Council has plans in place to manage its responsibility to the community of being a financially sustainable organisation.
Central Coast Council has moved into a new, yet challenging, period as it works to build on the last three years’ successful implementation of restoring Council’s financial position to enable Council to operate, repay emergency loans and meet other financial obligations. It is looking ahead, planning and identifying future challenges and actions to maintain financial sustainability.
The Financial Sustainability Strategy and Long-Term Financial Plan are important guiding documents to give the community confidence that Council is proactively managing its finances. Council has a significant responsibility in managing assets valued at over $9.4billion on behalf of the Central Coast community.
The Financial Sustainability Strategy identifies high-level actions that Council must take to sustain a positive operating result position, and to maintain an adequate level of unrestricted cash to support operating activities and the required investment in assets.
Each month Council reports about its financial position through the Finance Report and the Investment Report that are tabled at the Council Meetings. Quarterly, Council also reports its performance progress as measured against the annual operational plan and budget.