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Consultation has concluded
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.
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.
If you've read the Long Term Financial Plan and the Financial Position and Performance Policy, you can leave your feedback here.
Consultation has concluded
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With the current increase of the cost of living, and the fact that Mandurahs incentive is clearly to become a retirement city once again (similar to how it was over 30 years ago- but as a town), is an increase really fair on us rate payers considering it is very apparent that our Mayor and councillors have only THEIR interests at heart. Where is this money ACTUALLY going for our kids, youths and families? I am yet to see an actual detailed plan that will make Mandurah fun again!
#NORATERISE
Halz86
5 days ago
Due the to the City’s very poor record of financial management over the previous number of years ie Cost blow outs at the Marc centre, the debacle of the Peel St repeated road works, toilet block revamp on the foreshore, and the list goes on and on, I believe there is much scope to reduce wasteful expenditure . I think it is imperative that Council pulls in the reins, to become more efficient, thus passing on saving now and into the future. I propose to stop or slow down the introduction of the suggested plans. I totally disagree with and rate increases this year, as people currently experiencing cost of living stress will possibly not be able to afford to pay their rates, the end result Council not getting as much revenue overall.
Malcolme
6 days ago
I have read them, and agree with what is proposed.
With the current increase of the cost of living, and the fact that Mandurahs incentive is clearly to become a retirement city once again (similar to how it was over 30 years ago- but as a town), is an increase really fair on us rate payers considering it is very apparent that our Mayor and councillors have only THEIR interests at heart. Where is this money ACTUALLY going for our kids, youths and families? I am yet to see an actual detailed plan that will make Mandurah fun again!
#NORATERISE
Due the to the City’s very poor record of financial management over the previous number of years ie Cost blow outs at the Marc centre, the debacle of the Peel St repeated road works, toilet block revamp on the foreshore, and the list goes on and on, I believe there is much scope to reduce wasteful expenditure . I think it is imperative that Council pulls in the reins, to become more efficient, thus passing on saving now and into the future. I propose to stop or slow down the introduction of the suggested plans.
I totally disagree with and rate increases this year, as people currently experiencing cost of living stress will possibly not be able to afford to pay their rates, the end result Council not getting as much revenue overall.
I have read them, and agree with what is proposed.