The Dunedin City Council is preparing to launch into its draft long term plan.

Councillors will begin formal discussion of the document next week.

The long term plan outlines the council's financial strategy for the next ten years.

It takes into consideration major changes and development, in respect of infrastructure, assets, services and economic development.

The plan also highlights how the council intends to fund work, with information about budgets, financial sources and changes to rates.

A final version will be prepared after public consultation, which will begin in mid-March.