Community Panel
Deliberative workshop #4 Council & Financial Plan
Tuesday 19 November 2024
Acknowledgement of country
Frankston City Council acknowledges the Bunurong people of the Kulin Nation as the Traditional Custodians of the lands and waters in and around Frankston City, and value and recognise local Aboriginal and Torres Strait Islander cultures, heritage and connection to land as a proud part of a shared identity for Frankston City.
Council pays respect to Elders past and present and recognises their importance in maintaining knowledge, traditions and culture in our community.
Council also respectfully acknowledges the Bunurong Land Council Aboriginal Corporation as the Registered Aboriginal Party responsible for managing the Aboriginal cultural heritage of the land and waters where Frankston City Council is situated.
Frankston City Council
Financial Plan
Caroline Reidy Manager Financial and Integrated Planning
Financial Plan Agenda
❖ Recap - Developing a Council and Wellbeing Plan
❖ What is a Financial Plan?
❖ Budget Challenges
❖ Current Process
❖ What we need your help with
❖ Activity
❖ Next Steps
Developing the Council and Wellbeing Plan
What is a Financial Plan?
• 10 Year View
• Contains financial levers/assumptions
• Funding and revenue streams
• How we spend money
• Need to find balance
What is a Budget?
• 1 Year Detailed View + 3 years
• First section of LTFP
Challenge:
• How we spend money
o how funds will be allocated across initiatives programs services capital works, debt repayments
• Need to find balance
Current Process
Community Ideas
Design Decision Matrix to help with discretionary decision making Panel Service Plans Action Plans
Councillor planning workshop
Develop Council and Wellbeing Plan
Criteria to assess discretionary ideas
Long Term Impact
Funding Source
Risk Inclusivity Alignment with Community Needs
Clear objectives
Strategic Alignment Evaluation & Reporting
Other?
Upvote the comments that best reflect your personal view and understanding of community expectations
https://engage.frankston.vic.gov.au/your-vision-frankston-city/CWP4
Next Steps
• Confirm criteria
• Prioritise each criteria
• Present in draft financial plan
• Use to help analyse future community submissions
you Next Meeting Tuesday 26 November