Council has voted to endorse the City's Draft Long Term Financial Plan 2025 - 26 to 2034 - 35, releasing it for community consultation.
The Long-Term Financial Plan presents a blueprint for managing the financial needs of the next decade, recognising the need to continue to provide critical services, infrastructure and facilities through a time of growing community need while ensuring financial sustainability.
It also highlights the challenges, including Victorian Government constraints on council revenue, ongoing cost pressures relative to inflation, and a trend of cost-shifting, where other levels of government move funding requirements to local government to absorb.
Despite these challenges, the plan forecasts operating surpluses across the decade, while reducing levels of debt and maintaining sufficient working capital to meet liabilities.
There are also considerations for the management and renewal of the City's $6 billion worth of assets and capital works.
Community consultation has already shaped the plan, as it is underpinned by the objectives of the Our Council Plan 2025-29, and the 30-Year Community Vision.
Mayor Stretch Kontelj OAM
The next decade is a very exciting time for Geelong, but it also presents some challenges in terms of how we manage the forecast growth while providing the services and facilities that the community expects.Achieving financial sustainability is one of my highest priorities, and this plan shows that the organisation will continue to deliver for the community over the next decade, while living within our means by maintaining operating surpluses and paying down debt.
Finance portfolio chair Cr Andrew Katos
We want a Long-Term Financial Plan that is truly representative, so visit the Have Your Say page to read the full draft.The opportunity for comments closes on 24 August 2025, so don't miss this important opportunity.
Feedback is now open at yoursay.geelongaustralia.com.au/LTFP-25-35
The final plan is expected to be presented to Council for adoption in October.
