A long-term financial strategy is a plan that outlines how money will be managed over a long period. You can find information about what this plan should include in the Local Government Act, but the specific details about the content of this plan are no longer part of the law. This part of the law was repealed, which means it was removed, on 1 July 2003, by section 266 of the Local Government Act 2002, which you can read more about on the legislation website.