Under section 91 of the Local Government Act 2020, the Council must develop and adopt a financial plan to provide a long-term view of the resources that are expected to be available to Council and the proposed/predicted application/use of those resources over a 10-year period.
The Financial Plan should cover all aspects of the Council’s role, including services/operations and capital investment/assets. It should also describe the proposed sources of funds it proposes to have access to and include all the high-level assumptions under-pinning the Plan.
The Benalla Rural City Council Financial Plan demonstrates the following financial management principles:
1.2.1 Revenue, expenses, assets, liabilities, investments and financial transactions are
managed in accordance with Council's financial policies and strategic plans.
1.2.2 Management of the following financial risks:
a) the financial viability of the Council (refer to section 2.1 Financial Policy Statements).
b) the management of current and future liabilities of the Council. The estimated 10
year-liabilities are disclosed in section 3.2 Balance Sheet projections.
c) the beneficial enterprises of Council (where appropriate).
The Financial Plan was adopted by Council at its meeting on 29 June 2022.