THE Derwent Valley Council has unveiled the draft plan for its 10-year outline to secure a stable financial future for the region.
In the words of the council, the Financial Management Strategy and Plan (FMSP) “is a strategic planning tool based on a range of assumptions that assess the financial requirements to achieve our strategic objectives: moderate underlying surpluses, sufficient liquidity and cash flow, minimal debt, and asset renewal requirements being satisfactorily funded”.
The FMSP, which was released last week, takes in to account a variety of factors and predicts their influence on the future of the region, including population growth of the state, age demographics, predicted growth rates and rate growth.
Some of the major points of interest in the FMSP include an ongoing rate rise of 4 per cent over the next 10 years, the introduction of a waste levy, which will facilitate rehabilitation of the tip site and a proposed stormwater levy, which will be introduced next year at $20, increasing annually by 5 per cent.
Growth of recurrent income for the Derwent Valley Council is expected to grow from approximately $15.4 million to $22.65 by 2030/2031.
One of the major influencers in the FMSP is the elimination of the operating surplus, which is outlined to be erased by 2027/2028, according to the financial plan.
The FMSP also outlines potential expenses to the council in the form of upcoming projects and expected costs associated with the growth of the region, which includes construction of a weighbridge at the Peppermint Hill Landfill, as well as the expected costs related to building a waste transfer station on the site.
The FMSP will be reviewed by the Derwent Valley Council annually.
The FMSP Draft is available on the Derwent Valley Council website.