Our 10 Year Financial Plan 2024/25 to 2033/34 provides a financial road map for the future. Adopted at the 25 June 2024 Council Meeting, the 10 Year Financial Plan ensures we deliver on the Council Plan and continue to be a financially sustainable organisation.
Highlights of the 10 Year Financial Plan
- Provides the long-term financial resourcing for the future to build a better Manningham.
- Provision of funding to deliver on a range of key strategies and initiatives such as community health and wellbeing, our parks and public spaces, road maintenance and footpaths, the environment and waste and storm water management, support for local businesses including the introduction of a co-working business hub, a youth hub, and increased community grant funding to support community led initiatives.
- We will deliver on our Climate Emergency Action Plan to reduce the impacts of climate change. We have allocated $11 million in our capital works program over the next ten years for Circular Economy (Sustainability) initiatives.
- A commitment of $1.69 billion of operational expenditure over 10 years (an average of $169 million per annum) to deliver more than 100 services for our community.
- The delivery of a 10 year Capital Works Program of $549 million (an average of $55 million per annum) to renew and enhance Council’s $2.7 billion of community assets. This program focuses on core infrastructure such as footpaths, drainage, roads and open space and will enhance the liveability and amenity of our municipality.
- The Capital Works Program is in addition to the $247 million over 10 years (an average of $25 million per annum) to maintain our important community assets included in our operating budget.
- A significant allocation of funding in the Capital Works Program for major projects including the construction of major community and recreational facilities. These projects will be funded primarily from Council’s Strategic Fund.
- Average forecast general rate increases in line with the State Government’s rate cap/forecast CPI.
- Despite the challenging economic environment, we have continued to focus on ongoing financial sustainability through innovation and efficiencies, and containment of expenditure at less than inflation. We are also seeking alternative sources of income to reduce the dependence on rate income, such as ensuring that we strategically unlock the potential of our assets to enhance our financial sustainability.
Strategic Property Portfolio
The Strategic Property Portfolio (SPP) makes up part of the 10 Year Financial Plan by contributing to Council’s vision of being a financially sustainable organisation. Adopted at the 25 October 2022 Council Meeting, the Strategic Property Portfolio intention is to acquire property that will strategically enhance opportunities for development and community enhancement.
The SPP vision and principal:
The Strategic Property Portfolio will provide the City of Manningham with an additional funding source to enhance services and associated infrastructure for the benefit of the community.
Contribute to an alternative income stream to achieve Council’s mission to be a financially sustainable Council.
Acquired properties
| Address | Bid | Financial benefit |
|---|---|---|
| 10 Waldau Court, Doncaster | Council was unsuccessful at auction | Potential to acquire the heritage listed site for community use |
| 35 Hakea Street, Templestowe | Council was successful at auction for $1.45 million | The site adjoins Council owned land to the south, providing future opportunity for community infrastructure |