7.1 Financial Sustainability & Governance
Local government acknowledges its statutory obligation to be sustainable and that this can only be achieved through attainment and maintenance of financial sustainability. Councils shall continue to proactively improve its practices, while complying with legislative and regulatory requirements for governance and reporting.
Local government recognises that a council’s long-term financial performance and position is sustainable where planned long-term service and infrastructure levels and standards are met without unplanned increases in rates or disruptive cuts to services. Councils shall continue to plan in the long-term to safeguard financial and service security.
Local government recognises the importance of autonomy in borrowing and investment powers of councils to ensure maximum flexibility, but within a general requirement to act prudently. Councils shall continue to improve transparency regarding their borrowing/ investment activities while recognising and exploiting appropriate use of debt.
Local government supports the provision of training on financial governance and responsibilities of council members and that training should be available focusing on best practice in financial governance. Councils shall continue to ensure training is made available to ensure high quality planning and decision making.