Update on this matter:
The NSWRP has made a submission to the OLG suggesting two possible solutions.
1. Councils be allowed to submit a ‘streamlined’ special variation that aligns with their 2021-2031 Long Term Financial Plan within the CSP. This approach is on the basis that each community has set their expectations and councils have determined how this will be funded. For example, councils with 2% in their LTFP an SV bridging the gap of 1.3% should be allowed (bringing the cap up to 2%).
2. The Minister intervene and ask IPART to recalculate the LGCI based on the annual movements between September 2020 and September 2021. This approach is on the basis that the peg announcement had been delayed (due to election) to December and indices would be more relevant and more up to date.
We are working with LGNSW on their approach and I will provide a further update as this progresses.
Hope you are all keeping safe and have great Christmas and Happy New Year.
Regards,
Andrew
