Financial Sustainability Review

Summary and scope

To support Council's consideration of long-term financial sustainability initiatives and any future Special Rate Variation (SRV) application, Council requires a comprehensive Financial Sustainability Review.The review should address the requirements of Council Resolution 26-108 (Comprehensive Review of Council Business) by examining expenditure on non-statutory services and benchmarking against comparable councils where possible.The review will also address Council Resolution 26-110 (Exploration of Alternative Options to Support Long-Term Financial Sustainability) by identifying and evaluating alternative revenue opportunities, commercial opportunities, asset utilisation options, cost containment measures, and productivity improvements.The report will assess the financial impact, benefits, risks, and implementation considerations of identified options and develop financial scenarios demonstrating how a combination of expenditure savings, efficiency gains, revenue initiatives and, if required, a potential Special Rate Variation could improve Council's long-term financial sustainability.The review will provide an evidence-based framework to inform Council decision-making, community engagement and any future SRV application to IPART.