A strategy to ensure Council's ongoing financial sustainability
Tuesday 19 September 2023
Council is committed to the responsible management of ratepayer’s funds and ensuring our community can thrive, now and into the future.
As part of our commitment to improve Council’s financial health we have developed a draft Financial Sustainability Strategy. This document has been prepared to identify reforms and direction on how to achieve a healthy long-term financial position.
‘Financial sustainability’ means consistently having sufficient reserves in the tank to meet unforeseen or emergency expenses, without relying on borrowing or compromising essential services.
Like all councils in Victoria, Yarra is facing financial challenges including rising cost pressures, cost-shifting of services from other levels of government, and the impact of unprecedented growth on our services and infrastructure.
The draft Financial Sustainability Strategy looks at the predicted numbers in our Long-Term Financial Plan and identifies ways to address them, so that we are in an improved financial position and can deliver for our community.
The Strategy sets out strategic reforms to ensure that future investment decisions are based on need, underpinned by evidence, and guided by informed strategies.
Central to the strategy are the 7 strategic levers, practical and achievable actions and outcomes. These levers will help us get to where we need to be and guide Council’s direction over many years.
The full draft Financial Sustainability Strategy is now available to read on Your Say Yarra. Our community is invited to have your say on the draft Strategy before 9am Monday 16 October.