The Financial Plan is a strategic document. It provides a 10-year projection regarding how the actions of the Council Plan may be funded to achieve the Community Vision.

The Budget is a more detailed annual assessment. It contains specific information on rates calculations and funding of the different activities of Council.

Council understands that Glen Eira residents and stakeholders have in-depth knowledge of people, places and spaces in our municipality.

Council wants our vision for the future to be shared and wants to draw on the community's knowledge, local insights and opinions to inform the approach and objectives for planning for our municipality. Council is therefore committed to engaging with our community as essential to planning for the Budget.

All community responses will be considered in the development of a final Budget. While some responses may be easily implementable, others may not be possible to include. Council will take a balanced approach and consider the responses in the context of all other relevant factors including other feedback received, the wider environment and the resources available to Council.

Rates and charges are an important source of revenue. Rates are collected from residents and businesses to help fund local infrastructure and services.

Planning for future rate increases is an important component of the financial planning process. The Fair Go Rates System (FGRS) overseen by the Victorian Minister for Local Government sets out the maximum amount councils may increase rates in a year. The rate cap for 2024—25 is set at 2.75 per cent.

The level of required rates and charges is considered alongside Council's other sources of income and the planned expenditure on services and works to be undertaken for the community.

Council's income comes from:

• rates (annual charges paid by residents and businesses)
• waste and recycling charges
• fines
• user fees (fees for using council pools, sports and recreation facilities, aged care services etc.)
• Commonwealth and State government grants.

The Community Vision statement is accompanied by six guiding principles that include:

• Principle 1: We work together
• Principle 2: Planning for community resilience
• Principle 3: Inclusive and healthy community
• Principle 4: Maximise and diversify our green and natural spaces
• Principle 5: We are proactive in meeting challenges and innovate using evidence-based methods
• Principle 6: Promote and develop our creative potential, celebrating our diverse identities through art and other cultural expression.

The Council Plan contains five strategic directions that will guide our efforts between 2021 and 2025, each with a long-term goal:

1. Well informed and transparent decisions and highly valued services

We build trust through engaging with our community, delivering quality services and making evidence-based decisions.

2. Access to well designed and maintained open spaces and places

Our public open spaces and places support a healthy and connected community and contribute to a more sustainable and vibrant City.

3. A liveable and well-planned City

Our planning aims to balance population growth with enhancing the unique character and heritage of our City

4. A green and sustainable community

Our actions and priorities aim to protect our community from the worst impacts of climate change.

5. A healthy, inclusive and resilient community

We support our residents to be healthy, strong and resilient and will embrace and celebrate our diverse community.