The Long Term Financial Plan is our 20-year roadmap for financial sustainability, guiding both day-to-day and long-term decisions. It ensures we can meet community needs while maintaining a strong financial position, as outlined in the Community Vision 2034 and related plans.

Between the 24 September and 20 October we engaged on the Draft LTFP 2024-25 to 2034-35.

Key elements of the draft LTFP:

• Aligns rate revenue with CPI growth plus new property revenue.
• Sets a debt ceiling with provisions for capital investments that provide financial returns.
• Prioritises renewal of existing assets, as recommended by ESCOSA (Essential Services Commission of South Australia).

Recent updates included:

• A revised set of five LTFP principles, focusing on returning to a surplus, setting debt ceilings, increasing revenue, and reducing reliance on rates.
• Forecasted surpluses and debt reduction, based on assumptions like CPI-aligned rate increases and no new major projects.
• Plans to generate $3 million annually from asset sales and to manage costs within CPI limits.

Following a review by ESCOSA, we are committed to improving our financial sustainability by addressing deficits, ensuring asset renewals are maintained, and managing debt responsibly.

The following amendments were made to the LTFP after engagement:

• Efficiency target added into 2025-26 to ensure the operating surplus position is maintained.

The LTFP 2024-25 to 2034-35 was adopted by Council at a Special Council meeting on 19 November 2024.

The LTFP will be reviewed annually to remain relevant and reflect the latest economic data.