2.1 FINANCIAL PLANNING
What we do
We prepare for Council the 5 key financial documents that are required to form part of a local government ’ s system of financial management ( Section 104 of the Local Government Act 2009 ):
• 5-year corporate plan ( Section 104 ( 5 ) ( a ) ( i ))
• Long-term asset management plan ( Section 104 ( 5 ) ( a ) ( ii ))
• Long-term financial forecast ( Section 104 ( 5 ) ( a ) ( iii ))
• Annual budget ( Section 104 ( 5 ) ( a ) ( iv )
• Annual operational plan ( Section 104 ( 5 ) ( a ) ( iv ))
We aim to consider the short-term and longer term financial impacts of Council ’ s policy development and decisions , on behalf of current and future residents .
For the new Corporate Plan , Council aims to demonstrate that it is representing the current and future interests of its residents by :
• ensuring financial plans extend beyond one decision and one financial year ( current year budget integrated with its longterm forecast );
• planning for high value infrastructure and assets well in advance ( looking forward for the next decade and beyond ) and preparing business cases for major investments ;
• having priority areas of focus for pursuit of grants .
Why we do it
It is often said that local government is the level of government closest to the people . Whilst this is a title that we value , it also presents challenges on a daily basis as there is the expectation that all requests made to Council can be implemented .
However , in local government , like any other tier of government , there are limited funds available . The elected members , and the employees who implement the elected Council ’ s decisions , are constantly juggling many competing demands for Council services and projects . The task to prioritise the use of the limited funds is not an easy one , nor is how to get the balance right between raising rates and charges to meet more needs , and affordability of rates and charges in the community .
As well as juggling in the short term , all Councillors must represent the current and future interests of its residents . This means looking at the short term and longer term impacts of today ’ s decisions . What is an easy or popular decision today , may create a financial burden for future ratepayers .
Our financial planning documents help us keep an eye on how our finances are tracking over the short , medium and long term .
What we must do
Local Government Act 2009 Local Government Regulation 2012 Australian Accounting Standards Funding Guidelines ( Queensland , Australian Governments ) Planning Act 2016
Our plans for 2021 / 22
Did you know
From 2013 / 14 to 2019 / 20 , $ 457.082 million of grants , subsidies , contributions and donations have been secured to assist in funding services and projects for our region ( Recurrent - $ 164.478 million and Capital - $ 292.604 million ).
This has made an extraordinary difference to the level of service and the number of projects that could be delivered for our region ’ s residents each year .
?
The Roma Saleyards Multi-Purpose Facility is an example of a project planned and advocated for over many years .
Officially opened on 26 January 2020 , it was jointly funded by the Australian Government through the Building Better Regions Fund ($ 3,961,483 ) and Queensland Government ($ 3,698,983 ) in association with Saleyards Reserves ($ 434,193 ) and Council ( balance ).
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