Victorian Current Acts Victorian Current Acts(1) A Council must develop, adopt and keep in force a Financial Plan in accordance with its deliberative engagement practices.
(2) The scope of a Financial Plan is a period of at least the next 10 financial years.
(3) A Financial Plan must include the following in the manner and form prescribed by the regulations—
(a) statements describing the financial resources required to give effect to the Council Plan and other strategic plans of the Council;
(b) information about the decisions and assumptions that underpin the forecasts in the statements specified in paragraph (a);
(c) statements describing any other resource requirements that the Council considers appropriate to include in the Financial Plan;
(d) any other matters prescribed by the regulations.
(4) A Council must develop or review the Financial Plan in accordance with its deliberative engagement practices and adopt the Financial Plan by 31 October in the year following a general election.
(5) The Financial Plan adopted under subsection (4) has effect from 1 July in the year following a general election.