Long Term Financial Plan 2024

The Long Term Financial Plan (LTFP) is critical to the City of Mandurah Council’s financial planning process. It underpins long-term financial sustainability and demonstrates the level of investment the Council can commit to when delivering the City of Mandurah Strategic Community Plan.

The 10-year rolling plan has been prepared based on several objectives and assumptions outlined in this document. Strategies, priorities, opportunities and emerging issues are all dynamic influences of this plan. To ensure that the plan is responsive to the needs of the community, it is reviewed and adjusted each year, alongside the Corporate Business Plan and Annual Budget.

This year the city has also developed a Financial Position and Performance Policy alongside the LTFP. The policy is underpinned by six key principles and will assist the Council in its direction for the LTFP.

This plan is based on and achieves, the following outcomes:

• $393.38 million in capital expenses across the duration of the plan
• $1.40 billion in operating expenditure over the Plan (excluding depreciation)
• For 2024/2025 Financial Year a rate increase of 3.98% in year 1, CPI + 0.68% from year 2 onwards and an average of 0.69% growth in rates per year resulting in an additional $44.86 million in revenue over the Plan
• Loan borrowings of $60.70 million over the Plan resulting in a total liability of $25.87 million (decrease of $4.13 million) in year 10
• Achieves ongoing improvement with the Department of Local Government, Sport and Cultural Industries (DLGSC) financial ratio benchmarks.

The City welcomes any feedback on the Plan and are continually striving for continuous improvement. If you have any feedback, please email council@mandurah.wa.gov.au and include in the subject 'Long Term Financial Plan'. Alternatively, you can use the comment section below.

Please have your submissions to us by 10th May 2024.