Council Adopts Financial Management Strategy 2023

Published on 29 June 2023

Council adopted the Financial Management Strategy 2024 - 2033 (FMS) at its meeting on 27 June 2023.

The FMS is an essential component of the Council’s financial planning process as it underpins financial sustainability, whilst meeting the needs and expectations of the community in delivering the Council’s strategic objectives.

Burnie City Council Mayor Teeny Brumby said:

“The FMS seeks to inform the community how Council intends to govern its financial decisions both now and into the future.

In adopting its long term Financial Management Strategy two years ago, it set an ambitious target to start to deliver underlying break even budgets from 2022-23 financial year. We are working hard to deliver that this financial year, and the new financial year presents similar challenges. We are up for this and continue to evaluate our costs and income sources as a means of continuing our pathway to long term financial sustainability."

It is true that our Council remains in budget repair mode, since the decisions to reduce the rate burden to our community for a five year period which commenced in 2016-17. We continue to make progress in this area but just as it has been a long time producing the issues of our present financial constraints that we are now experiencing – it will take many years to continue to gradually repair our financial position as we continue to pursue a more financially sustainable future for our community.