Armidale Regional Council recently needed to review the Council’s Financial Policy and Strategy for the years 2017/2021 and also their Long Term Financial Plan. Their objective was to review Council’s long term sustainability given the range of challenges and opportunities following the recent merger.
To achieve this, Morrison Low created a framework and financial sustainability roadmap for the on-going financial sustainability of Council. Four key financial sustainability principles were identified and tailored for Armidale Regional Council: a fully funded operating position, maintaining sufficient cash reserves, an appropriately funded capital program and the maintenance of its asset base. These principles, processes and actions will guide Council to significantly improve its viability, with the potential elimination of its deficits by 2021.
Morrison Low’s Senior Consultant, Greg Smith said “We are encouraging councils to look down the road five or ten years ahead, planning and mitigating for the unexpected. Working with Armidale Regional Council, we were able to create a roadmap that will guide them through to being a more sustainable and viable Council.”
Council’s CEO, Peter Dennis said that “Morrison Low created a well-constructed and professional report that will assist in driving Armidale Regional Council’s road to sustainability. The team was attentive and comprehensive with their research and met all expectations on delivery. I would definitely work with them again.”
Project Contact: Greg Smith