Namoi Unlimited has "unanimously endorsed" its Water for the Future study, and will now begin work on creating an action plan.
The five member councils made the decision at a board meeting this week, and comes after the strategy was on public exhibition for 28 days.
A number of residents within the five local government areas made recommendations for the study, which Namoi Unlimited chairperson Jamie Chaffey said would all be "taken into consideration" for the action plan.
"There has been a significant focus on this strategy because our five councils understand the importance water will play in the future success of our communities," Cr Chaffey said.
"Now that it's endorsed, we'll be moving forward to identify our action plan and how best to work with other tiers of government to deliver on our identified priorities.
"From there, we'll prioritise those action plans and they will guide us in our actions over the coming months and, indeed, years to come."
The study makes 33 recommendations for actions that member councils should take, including for short and long term infrastructure to strengthen water security and changes to water planning and policy.
It also highlights the need for addressing data gaps to enable regional improvements to water management.
"There are numerous water studies that are being completed that talk about different regions in NSW that don't specifically identify all of the different aspects of water generation, storage, and use within the area covered by Namoi Unlimited," Cr Chaffey said.
"So, this report is very important information for the five local government entities and, more importantly, the 33 recommendations that have been identified will help us shape a stronger future for our communities."
A copy of the Water for the Future study can be found on the Namoi Unlimited website.
Namoi Unlimited incorporates Gunnedah, Liverpool Plains, Tamworth, Walcha and Gwydir councils.