Long Term Plan Disclosure Statement for the Period Commencing 1 July 2018 Long Term Plan Disclosure Statement for the Period Commencing 1 July 2018 What is the Purpose of this Statement? This table shows that Council has gone above its policy in the first five years of the LTP albeit only marginally in 2018-19 and 2021-22. Also the Loan rate for The purpose of this statement is to disclose the Council’s planned financial Flaxbourne commences in 2022-23. Without this additional voluntary targeted rate performance in relation to various benchmarks to enable the assessment of Council would have complied with its policy in that year. As stated in the Financial whether the Council is prudently managing its revenues, expenses, assets, Overview the main driver for Council exceeding it Rates Cap is the large liabilities, and general financial dealings. The Council is required to include this investment in Capital Expenditure in these early years Statement in the Long Term Plan Local Government (Financial Reporting and Prudence) Regulations 2014 (the Regulations). Refer to the Regulations for more Rates Affordability Benchmark information including definitions of some of the terms used in this Statement. The following graph compares Council's planned rates with a quantified limit on Rates Income Affordability Benchmark rates contained in the financial strategy included in this Long Term Plan. The quantified limit is a maximum dollar rates of $97.6 million. The following graph compares Council's planned rates with a quantified limit on rates contained in the Financial Strategy included in this Long Term Plan. The quantified limit is that rate increases will not exceed the Local Government Cost Index by more than 2%. 2018-2028 Long Term Plan Page 18