Strategic Finance Improvement Committee (SFIC)

Council resolved, at the 10 December 2025 Ordinary Council Meeting, to form a Strategic Finance Improvement Committee (SFIC) to further strengthen management and advise on the development of Integrated Planning and Reporting 2026/27.

Purpose:
The specific functions delegated to the Committee include:

  • Regularly and continuously review Council's financial situation with a view to becoming financially sustainable by 2026/27.
  • Prepare a Strategic Finance Improvement Plan with an emphasis on the urgency to address the financial issues facing Council.
  • To focus on the challenges faced by Council, brand the updated plan "Finance Improvement Plan" (the Plan).
  • Implement the actions identified in the Plan and report monthly to Council on the financial position in the Plan.
  • Improve compliance with accounting principles including the Local Government Act 1993 (NSW)(NI), the Local Government (General) Regulation 2005 (NSW)(NI) and the Code of Accounting Practice and Financial Reporting.
  • The Plan is to include the actions Council will take over the next two budgets (FY 25/26 and FY 26/27) to break the practice of adopting deficit operating budgets without reliance on government grants.
  • Update the six completed service reviews and include in the remaining three service reviews revenue opportunities to ensure Council can move to surplus operating budgets and ensure its long-term financial security.
  • Invite the Audit, Risk and Improvement Committee to provide monitoring of the Plan.
  • The Plan is also to include a three-year financial strategy which will culminate in Council increasing its unrestricted cash balance to a sustainable level to transition to the Norfolk Island Assembly (NIA).

Expressions of Interest for SFIC:
Council is seeking Expressions of Interest (EOIs) from suitably qualified/experienced candidates to fill three (3) vacancies on the Strategic Finance Improvement Committee (SFIC).

If there are any members in the community interested in joining the Committee, please read the Information Pack and Terms of Reference below, before submitting your application to Customer Care at customercare@nirc.gov.nf by 12 June 2026. 

Meeting Minutes:
SFIC Meeting Minutes - 29 January 2026(PDF, 281KB)

Agenda Packets:
SFIC Meeting Agenda Packet - 2 April 2026(PDF, 10MB)

Find SFIC meeting minutes and agenda packets in the web portal below. For assistance on how to use the web portal, read this step-by-step User Guide(PDF, 1MB).

 

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