Council follows strategy to maintain financial sustainability

Burnie City Council adopted the 2011/12 Annual Plan and Budget Estimates at its meeting tonight.

Mayor Alvwyn Boyd said, “Aldermen and Council staff have worked extremely hard over the last couple of months exploring every option to ensure the best outcome for the community.”

In 2010 Burnie City Council adopted a Financial Management Strategy which is reviewed annually and provides Council with a strategic planning framework when developing budgets for the next ten years.

Mayor Boyd said, “The key objective of the strategy is to demonstrate and maintain financial sustainability whilst achieving the strategic objectives for the city. If we continue to follow the direction of the strategy, Council will maintain a strong financial position into the medium to long term.

“Council has been focused on long term planning, both with its Making Burnie 2030 process as well as through the Financial Management Strategy. This will allow us to provide the services required by our community whilst remaining financially strong.

This year’s capital works expenditure is $14.665m and is supported by borrowings up to $2.000m.

The borrowings will be utilised to partly fund long term assets such as new natural gas heating and chlorine dosing upgrade for the Burnie Aquatic Centre and concept plans for a new aquatic and leisure centre ($0.500m), improved access upgrade at the Burnie Arts & Function Centre ($0.500m) and the West Park intersection upgrade ($1.000m).

“This effectively means that the cost of assets which benefit future generations will be spread over time, rather than burdening today’s ratepayers with the full cost.

“By following the financial management strategy, we can afford to pursue these projects knowing that our long term sustainability is assured. The 2011/12 budget will lead to another successful year for the City of Burnie,” Mayor Boyd said.

For further information please contact

Libby Jowett
Communications Officer
Burnie City Council
(03) 6430 5716 or 0448 568 728