Building a Sustainable Financial Future for Kangaroo Island
Kangaroo Island Council is focused on developing a strong and sustainable financial strategy to ensure responsible financial management and long-term stability for our community.
As part of this commitment, Council is implementing a comprehensive financial plan that aligns with best-practice accounting standards and supports both short-term needs and long-term sustainability. To achieve this, non-essential or unanticipated expenditures will be deferred while we work closely with elected members to establish a sustainable ongoing budget.
Council is also developing a performance-based Road Asset Management Plan alongside a broader Asset Management Plan to ensure that investment in infrastructure is strategic, efficient, and meets community needs. These financial and asset management initiatives are aligned with Council’s Community Strategic Plan 2024-34 and Four-Year Delivery Program 2024-28, which provide a clear framework for responsible decision-making and financial sustainability.
CEO Daryl Buckingham highlighted the importance of strengthening Council’s financial position to support long-term service delivery:
"This is about building a financial strategy that is realistic, sustainable, and aligned with best-practice management principles. By taking a disciplined approach now, we can ensure Council remains financially stable while continuing to invest in essential infrastructure and services."
Mayor Michael Pengilly reinforced the need for responsible financial management to support the Island’s future:
“Our community expects Council to be financially responsible while delivering the services and infrastructure that make Kangaroo Island a great place to live, work, and visit. This financial strategy is about ensuring we can continue to meet those expectations while keeping rate increases as low as possible.
Council is also committed to continuing a strong debt reduction program. Reducing our borrowings will put us in a better position to direct future funding toward the services and community projects that matter most to our residents.”
Council’s financial strategy and asset management planning also play a critical role in supporting the delivery of services and infrastructure improvements that the community values. These plans will continue to inform Council’s Annual Business Plans and Long-Term Financial Plan (LTFP), ensuring a clear link between financial decision-making and the aspirations outlined in the Community Strategic Plan.
The Long-Term Financial Plan is a key part of Council’s Integrated Planning and Reporting (IP&R) framework and provides a 10-year outlook on revenue, expenditure, and future investment. It helps guide decisions on maintaining services, managing assets, and planning for financial sustainability while adapting to changing community needs and external economic conditions. By integrating the LTFP with asset and service planning, Council is ensuring that funding decisions are transparent, responsible, and aligned with the long-term vision for Kangaroo Island.
More information will be shared as this work progresses.