FAQs

Section 403 of the Local Government Act 1993 requires all councils to have a long-term Resourcing Strategy (minimum of 10 years) to achieve the objectives established by the Community Strategic Plan. 

The Resourcing Strategy consist of three inter-related components:

• Long Term Financial Plan (LTFP)
• Asset Management Strategy
• Workforce Management Strategy 

As its name suggests, each of the elements of Council’s Resourcing Strategy plays a role in resourcing the achievement of the North Sydney Council Delivery Program 2018/19-2021/22 (and annual Operational Plan), as well as Council’s other strategic plans developed to support the achievement of the North Sydney Community Strategic Plan 2018-2028.

The LTFP must include the following statutory requirements:  

• projected income statement, balance sheet, cash flow statement and equity statement;  
• planning assumptions used to develop the plan;  
• sensitivity analysis - highlights factors/assumptions most likely to affect the plan;  
• financial modelling for three different scenarios; and  
• methods of monitoring financial performance.