#SummerSeries 18/19: New Resolutions or rather do an Annual Plan

Adopting public sector ideas to make next year a productive one

It is coming to that time of year where New Years Resolutions like going to the gym or eating less food are made then forgotten the next day along with the hangover.

Frivolous is not in my nature so I thought how to make those New Year Resolutions more solid for the 2019 year. And with that light bulb moment I decided to borrow an idea from Auckland Council: setting an Annual Plan!

In Council speak an Annual Plan is their yearly Budget they must produce on all things income and expenditure. Unlike Central Government a Council’s budget must follow the 10 year Long Term Plan (or LTP) that is updated every three years (Auckland just had the 2018-2028 LTP released).

So after a few coffees I laid out the basic structure of my Annual Plan for 2019:

Think of it as our Annual Plan just like a Council does
What are the projects and goals for the year – how does it fit in the Long Term Plan main goals, what is projected income, OPEX and any CAPEX you might have this year. 

Example: The Ben Ross Annual Plan 2019
Goal: Completion of first set of renovations (Bathroom)
Events of Note: Oldest starts school Term 3, also a wedding in January and possible holiday in December. Bubs arrives April 

Major CAPEX: Bathroom: $X for installation 
School: $X for full fit out and stationery 
Holiday in December: $X

Income: censored
Opex: censored
Debt Servicing: Censored (this is the mortgage or hire purchase debts)
Deficit or surplus carried over from last Annual Plan: Censored

Other incidentals from 2018-2021 and 2018-2023 Long Term Plans (this is where major renovations or other CAPEX would sit as unfunded) brought into the 2019 Annual Plan as a funded activity: Censored

Note: if the incidental can not be funded in the 2019 Annual Plan it is left as an unfunded activity in the respective Long Term Plans. Also any deficits from the last Annual Plan will need to be carried over.

Surplus or Deficit: Censored

Have you consulted the Commander in Chief? I hope so

It does not need to be overly complex and can be done on paper or spreadsheet. Just remember to check up on it at least monthly or when any major events come up that could upset the Plan.

Hope you are all enjoying the Holiday break. Talking Southern Auckland is back Auckland Anniversary Weekend.

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