Council is poised to endorse a new Financial Sustainability Strategy at its December Council Meeting; the first strategy of its kind for a Victorian Council.
The final draft of the Strategy will be presented to Council for endorsement on Tuesday 12 December. This follows a four-week engagement process seeking feedback from the community.
Financial sustainability means consistently having sufficient reserves available to meet unforeseen or emergency expenses, without relying on borrowing or compromising essential services.
Like most Councils, Yarra currently has a Long-Term Financial Plan which helps inform Council planning and predicts the funding we will need to fulfil the needs of our community, along with where we are expected to be financially in the next ten years.
The Financial Sustainability Strategy looks at those predicted numbers and identifies strategic ways to address them, so that we are in an improved financial position and can deliver for our community both now and into the future.
It sets out strategic reforms to ensure that future investment decisions are based on need, underpinned by evidence, and guided by informed strategies. It also includes practical and achievable actions and outcomes.
If you’re interested in reading the draft Financial Sustainability Strategy you can do so on our website here.
The community is welcome to attend the 12 December Council Meeting at Richmond Town Hall at 6.30pm. You can also watch the Council Meeting online via the live stream.
