CCRC – Strategic Financial Action Plan
The Cassowary Coast Regional Council was confronted by a number of enormous financial challenges as soon as it was formed early this year (in March 2008) through the amalgamation of the Johnstone and Cardwell Shire Councils.
Many of these financial challenges involved the upgrade or replacement of aging and neglected key infrastructure in the region, including water and sewerage facilities, and bridgeworks.
While seeking ways to fund such a massive capital works program, the new council has also been immersed in meeting the challenges associated with the amalgamation.
In light of the council’s current combined overwhelming financial and administrative burden, the Department of Local Government, Sport and Planning agreed to fund the services of de Chastel and Associates, to provide support in preparing a Strategic Financial Action Plan.
Recently adopted by council, the plan aims to provide the Cassowary Coast Regional Council with a comprehensive guide to managing the crucial financial challenges that lie ahead – and in doing so, improve the organisation’s financial prospects.
The plan identifies a range of issues that the new council should address to improve its financial prospects in the long-term, but points out that not all of these issues can be tackled immediately. Given the many years of inaction it took to create the current financial predicament facing the council, there will be no quick fix.
In the meantime, the plan advises the council to focus on five key elements “simply because they will either provide an early start to dealing with some of the financial challenges or because they are simply so important that they need to be addressed sooner rather than later”.
These five high-priority issues are: up-to-date and accurate financial reporting; the systematic review of service delivery; achieving unqualified audits; the use of community engagement to obtain community support, and: sourcing additional infrastructure funding.
Much of the plan focuses on developing a corporate culture to better manage financial challenges and foster the desire for financial independence.
Finally, the Strategic Financial Action Plan is a living document and a management tool that can be used to monitor the progress of the implementation of actions required to achieve long-term financial sustainability for the Cassowary Coast Regional Council.