Council plan for decade of growth

BUNDABERG Regional Council expects revenue from its rates and utility charges to increase by 7.1% a year over the next 10 years, according to a financial plan released yesterday.

The plan makes it clear that the increase in revenue will include natural growth in areas such as valuation and population increases.

The inaugural financial plan, adopted at a special meeting of the council yesterday morning, details the activities the council intends to undertake over the next 10 years to achieve its objectives.

The plan is the first since the amalgamation of the Bundaberg City Council with the Burnett, Isis and Kolan shire councils.

Council finance portfolio spokesman Greg Barnes said the plan would ensure the council remained financially sustainable and able to deliver a diverse range of services and infrastructure at an affordable price.

"The financial plan, in conjunction with the long-term asset management and community plans and the financial forecast, outline the council's goals, strategies and policies," Cr Barnes said.

"The plan covers a 10-year period and includes investment, debt and revenue policies and requires the council to consider whole-of-life costing for capital investment decisions."

Cr Barnes said in the past the council had looked two or three years ahead, but this was the first time a 10-year plan had had to be prepared.

"We used the best information we have on hand now," he said.

"But there are always going to be variables."

The plan says insurance premiums are event driven and can be expected to increase by 20% in the short term.

At yesterday's meeting, the council also adopted its annual report and audited financial statements for 2010/2011, which showed the expected surplus of $2.2 million.

The annual report will be available online at the council's website at or at council libraries from tomorrow.

 

REVENUE INCREASES

Rates and utility charges revenue to rise by 7.1% a year

Fees and charges revenue to rise by 8.6% a year

Grants and subsidies revenue to rise by 5.6% a year



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