2017 Media Releases

Council adopts Long Term Financial Plan

10 August 2017


Willoughby City Council has adopted its updated Long-Term Financial Plan (LTFP) 2017 - 2027 at the final Council meeting for the current term (Monday 7 August). The LTFP presents a solid financial position for Council, forecasting a cumulative Annual Operating Surplus, including Capital Grants and contributions of $147M, over the next 10 years.

The updated 10-year model demonstrates Council’s commitment to providing quality infrastructure assets to the community, with improvements in asset maintenance and asset renewal ratios. This means there will be a continued focus on the provision of high-quality sporting fields, buildings, parks and stormwater provisions, with an expected $61.6M works spend from 2015/16 to 2024/25.

The works are funded partly by the seven-year Infrastructure Levy Program which will come to an end in 2021/22, resulting in a rates drop for residents in 2022/23. Council’s healthy Reserves are expected to grow from $92M to $113M by June 2027, creating quarantined funds for existing and pre-determined future projects.

Assuring good outcomes for the community, the LTFP continues to focus on the delivery of upgraded sports and recreation facilities, and includes current and future funding commitments by Council for significant Capital Works projects such as:

  • Haven Amphitheatre $1.3m
  • WLC major refurbishment and Pool Hall Upgrade $18.5m
  • Artarmon Bowling Club $1.5m
  • Northbridge Bowling Club $1.3m
  • Northbridge Baths $2.1m
  • Gore Hill Stage 2 $41.6m
  • Chatswood Park and Oval $2.3m
  • Chatswood High and Willoughby Girls synthetic sports fields $2.5m
  • Streetscape Improvements $0.2m

“The Long Term Financial Plan shows Council financial strength moving forward into the next decade and into a new Term of Council. This is part of Council’s commitment to continue delivering for our community.  It’s also great to see the commitment to maintaining our community assets such as parks, our sportsgrounds, building, stormwater pipes as well as our roads and paths,” said Willoughby City Council General Manager, Debra Just.

Media Contact
Acting Marketing and Events Manager
Phone: 9777 7703
Mobile: 0455 061 700
Email: Samantha.Connor@Willoughby.nsw.gov.au 

For non media related enquiries contact Willoughby City Council on 9777 1000 or email@willoughby.nsw.gov.au