What is the Resourcing Strategy?

    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.