Financially sustainable long term outlook for Willoughby City Council
Published on 14 July 2021
Willoughby City Council’s long term financial plan delivers a clear road map for the next ten years and demonstrates exceptional financial management.
Council adopted the Willoughby City Council Long Term Financial Plan 2021/22 -2030/31 at its recent meeting on Monday 12 July.
Mayor Gail Giles-Gidney said, "This is great news for the community and we’re financially committed to keeping our future sound."
"With the financial resources over the next 10 years, we’re excited about upcoming multi-millionaire dollar projects like the Gore Hill Indoor Sports Complex ($57.6m) and the Willoughby Leisure Centre refurbishment ($22.7m)."
Major Projects in the Long Term Future Plan 2021/22 - 30/31 include:
- Gore Hill Indoor Sports Complex: $57.6m
- Willoughby Leisure Centre Refurbishment: $22.7m
- Water Management: $9.6m
- Streetscape Upgrades: $7.9m
- Artarmon Bowling Club: $2.3m
Despite the negative impacts of COVID-19 on key revenue streams, the Long Term Financial Plan forecasts surpluses for all but one year. Cash flow is forecast to remain strong throughout the 10 years of the plan.
Council is also not planning to renew the infrastructure levy from 2022/23 onward which is great news for our community.
Council’s financial resources show there’s strong alignment with the vision and outcomes anticipated by Willoughby City’s Community Strategic Plan: Our Future Willoughby 2028.
For more information, please visit Willoughby City Council General Council Meetings.