Proposed 10 Year Financial Plan

We asked what you wanted the future of Manningham to look like and you answered.

For the first time, 44 locals across various demographics, came together as a Community Panel to discuss what the future of Manningham should look like. The Panel then shared their ideas and recommendations on achieving better outcomes for Manningham across whole range of areas, both in the next four years and in the long term. The Panel also proposed a new Community Vision.

Council unanimously supported the 2040 Community Vision and the 12 Community Panel recommendations included in this plan. Council endorsed the 2021/22 Budget on Tuesday 29 June 2021.

The Community Panel’s recommendations on priorities have informed our key strategies including the:

• 2040 Community Vision
• 10 Year Financial Plan
• 2021-2025 Council Plan
• 2021/22 Budget and Revenue and Ratings plan

Now it’s time for a final check on the proposed 10 Year Financial Plan. Feedback was open until 5pm Sunday 18 July.

The proposed 10 Year Financial Plan aims to:

• Achieve a prudent balance between meeting the service needs of our community (both now and into the future) and maintain Council’s financial sustainability for future generations.
• Increase ability to fund both capital works in general and meet the asset renewal requirements as outlined in asset management planning.
• Maintain a sustainable Council in an environment of capped Council rate income and low increases in government grant funding.
• Ensure that Council has sufficient reserves to meet any future financial challenges that may arise.

Highlights of the proposed 10 Year Financial Plan include:

• A sustainable level of surpluses and cash holdings
• Responses to our community’s aspirations
• $1.52 billion on service delivery over the 10 years.
• A $0.54 billion capital works program over the 10 years. The program averages $54 million per annum over the next 10 years - a significant uplift on the historical average annual spend (average of $40 million per annum for the previous four years)
• Increased ongoing funding for footpaths, drains, trees
• Rate rises in line with rate cap / forecast CPI.
• A $44 million allocation for the development of major Community Facilities
• $9 million for Waste Initiatives
• $18 million to purchase property to increase the open space within the Municipality
• $47 million for the open space improvement program
• $5 million for strategic property acquisitions.

The Proposed 10 Year Financial Plan will be considered for adoption at the August Council Meeting.