5Long-term financial management plan

5 Long-term financial management plan

(1)  In this clause –

long-term financial management plan of a council, means a long-term financial management plan prepared by the council in accordance with section 70 of the Act.

(2)  A long-term financial management plan of a council is required to include the following matters:

(a) the estimated revenues and expenses for each financial year of the plan, including the revenues and expenses in relation to each of the following matters:

(i) all capital works;

(ii) all capital expenditure;

(iii) all asset management requirements identified, as required under clause 7(2)(b) , in the long-term strategic asset management plan;

(b) for each financial year of the plan, a statement of comprehensive income, including estimates of –

(i) recurrent revenue; and

(ii) recurrent expenses; and

(iii) underlying surplus or deficit; and

(iv) net surplus or net deficit; and

(v) comprehensive result;

(c) for each financial year of the plan, a statement of financial position, including estimates of –

(i) current and non-current assets; and

(ii) current and non-current liabilities; and

(iii) net assets; and

(iv) equity, including reserves;

(d) for each financial year of the plan, a cash flow statement, including estimates of –

(i) receipts, payments, dividends and net cash from operational activities, financial activities including loan borrowings, and investment activities; and