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2021-06-30 Special Meeting Agenda
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SPECIAL MEETING AGENDA 30 JUNE 2021
ATTACHMENT 4
Page 26 of 67
SPECIAL MEETING AGENDA 30 JUNE 2021
ATTACHMENT 4
| ¢ ) | NOOSA Council Policy
@ | COUNCIL MANAGEMENT OF
RESTRICTED CASH
Corporate Plan Reference: Long term planning for Noosa Shire
Endorsed by Council: 30 June 2021
Policy Author: Director Corporate Services
POLICY BACKGROUND
The purpose of this policy is to establish a framework for the ongoing management of cash reserves,
including the establishment of targets and thresholds where appropriate.
COUNCIL POLICY
Restricted cash reserves are established to set aside funds for Council to meet regulatory
requirements, allocate against specific future projects and activities, and to ensure sufficient working
capital to meet current and long term financial obligations.
All reserves are fully cash backed, and are established for specific purposes. Restricted cash
reserves fall into the categories of:
1. Externally Restricted Cash
° Unexpended levy funds;
° Contributions received from developers for specific purposes constrained under
legislation;
° Unexpended grants and subsidies received from State or Federal Government agencies
and provided for specific purposes;
° Unexpended carbon tax liabilities collected; and
° Unexpended loan funds.
2. — Internally Restricted Cash
° Natural disaster rehabilitation;
e Asset renewal:
8 Waste management;
° Plant replacement;
° Liquidity management (cash expense cover); and
° Other specific purpose.
To ensure oversight on restricted cash balances, a register of restricted cash will be maintained by
Council and disclosed in the financial statements on an annual basis.
1. Externally Restricted Cash
Unexpended Levy Funds
This category includes money received for special and separate rates and charges, as outlined in
the Revenue Statement, and for which a levy Overall Plan provides for funds to be spent over a
number of financial periods.
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