Financial Management Strategy adopted

This year, Burnie City Council has introduced a target to reduce the rate burden to the community over the next 5 years by 1% per annum.

At it’s meeting tonight, Burnie City Council adopted the Financial Management Strategy 2017, which defines the principles of financial management for Council over the next ten years.

Burnie City Council Mayor Anita Dow said, “The Financial Management Strategy (FMS) was first introduced to Council in 2012 and since this time Council has identified the ongoing need for restraint in expenditure growth in order for rate increases to be kept to a minimum."

“Burnie is a regional centre, with Council providing a broad range of services relative to its population and as such our rates are higher than the state average.  The strategy recognises that there is more work to be done in reducing the cost of service provision to the community.”

 “In order to achieve this, and maintain financial sustainability, Council has also introduced operational savings targets which set a clear agenda led by Council to reduce costs while maintaining acceptable levels of service to the community.”

“We must balance our service levels with the needs and expectations of the community. Therefore, cost reductions must be in finding efficiencies in the way services are delivered rather than through a reduction of services provided. The strategy identifies operational savings targets in the order over $2.250m over the next 5 years will be needed.”

 “Council continues to be in a strong financial position.  Through careful planning over recent years it has improved its operating position, has strong liquidity and cash flow, relatively low debt levels, and its asset renewal requirements are being satisfactorily funded.”

“The strategy demonstrates Council’s commitment to keeping the cost of services to the community as low as possible whilst maintaining financial sustainability and ensuring the ongoing ability to deliver services to our community and improve community infrastructure.”

For further information please contact

Janine Phillips
Communications Officer
Burnie City Council
03 6430 5716 or 0448 568 728