Our 10 Year Financial Plan 2023/24 to 2032/33 provides a financial road map for the future. Adopted at the 27 June 2023 Council Meeting, the 10 Year Financial Plan ensures we deliver on the Council Plan and continue to be a financially sustainable organisation.
Highlights of the 10 Year Financial Plan
- Provides the long-term financial resourcing for the future to build a better Manningham
- Provision of funding to deliver on a range of key strategies and initiatives such as sustainability, the environment, waste management, asset management, flood modelling, and water management
- We will deliver on our Climate Emergency Action Plan to reduce the impacts of climate change. We have allocated $13 million in our capital works program over the next four years for Circular Economy (Sustainability) initiatives
- We will introduce waste management initiatives such as the introduction of the Food Organics Garden Organics (FOGO) service to reduce the amount of waste going to landfill
- A commitment of $1.62 billion of operational expenditure over 10 years (an average of $162 million per annum) to deliver more than 100 services to our community
- The delivery of a 10 year Capital Works Program of $549 million (an average of $55 million per annum) to maintain and enhance Council’s $2.5 billion of community assets. This program focuses on core infrastructure such as footpaths, drainage, roads and open space and will enhance the liveability and amenity of our municipality
- A significant allocation of funding has been allocated to our Capital Works Program for major projects, including the construction of major community and recreational facilities. These projects will be funded primarily by Council’s Strategic Fund
- The Capital Works Program is in addition to the $224 million over 10 years (an average of $22 million per annum) to maintain our important community infrastructure included in our operating budget
- Average forecast general rate increases in line with the State Government’s rate cap/forecast CPI
- Despite the challenging economic environment, we have continued to focus on ongoing financial sustainability through innovation and efficiencies, and containment of expenditure at less than inflation. We are also seeking alternative sources of income to reduce the dependence on rate income, such as ensuring that we strategically unlock the potential of our assets to enhance our financial sustainability.
Strategic Property Portfolio
The Strategic Property Portfolio (SPP) makes up part of the 10 Year Financial Plan by contributing to Council’s vision of being a financially sustainable organisation. Adopted at the 25 October 2022 Council Meeting, the Strategic Property Portfolio intention is to acquire property that will strategically enhance opportunities for development and community enhancement.
The SPP vision and principal:
The Strategic Property Portfolio will provide the City of Manningham with an additional funding source to enhance services and associated infrastructure for the benefit of the community.
Contribute to an alternative income stream to achieve Council’s mission to be a financially sustainable Council.
|10 Waldau Court, Doncaster||Council was unsuccessful at auction||Potential to acquire the heritage listed site for community use|
|35 Hakea Street, Templestowe||Council was successful at auction for $1.45 million||The site adjoins Council owned land to the south, providing future opportunity for community infrastructure|