2022-06-28 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                 28 JUNE 2022

1.    Financial Sustainability Policy
The Financial Sustainability Policy outlines the financial framework that Council will work within to
ensure that community capital is protected and that Council will meet its financial sustainability
targets into the future.
2.    Investment of Surplus Funds Policy
The Investment of Surplus Funds Policy outlines how Council can invest community funds based on
certain parameters including authorised investments and acceptable financial institutions to minimise
risk.
3.    Debt Policy
In accordance with legislation, Council must adopt a Debt Policy for the financial year that includes
an outline of borrowings proposed within the current year plus a forecast of borrowings over the
ensuing 9-year period. Council is proposing to borrow $5.76 million in the 2022/23 financial year and
$0.9 million proposed in the 2023/24 financial year to fund further waste management capital
infrastructure works and Noosa Water lock replacement works. Further borrowings are currently
forecast in future years for additional waste management landfill and resource recovery area works.
4.    Management of Restricted Cash Policy
The Management of Restricted Cash Policy outlines the internal and external restricted cash
reserves required for cash management to ensure that Council can meet regulatory requirements,
allocate funds for specific future projects and activities, and to ensure sufficient working capital to
meet current and long term financial obligations.
5.    General Rate Donations Policy
The General Rate Donations Policy outlines the eligibility criteria required to be met for community
organisations to receive a donation from Council equivalent to the general rates payable on a
property.

Previous Council Consideration
Special Meeting Minutes, 30 June 2021, Item 2, Page 3
That Council note the report by the Director Corporate Services to the Special Meeting dated 30
June 2021 and:
A.    Adopt the Financial Sustainability Policy, which is provided as Attachment 1 to the report;
B.    Pursuant to section 191 of the Local Government Regulation 2012, adopt for the 2021/22
      financial year the Investment of Surplus Funds Policy, which is provided as Attachment 2 to
      the report; and
C.    Pursuant to section 192 of the Local Government Regulation 2012, adopt for the 2021/22
      financial year the Debt Policy, which is provided as Attachment 3 to the report.
D.    Adopt the Management of Restricted Cash Policy, which is provided as Attachment 4 to the
      report.
E.    Adopt the General Rate Donations Policy, which is provided as Attachment 5 to the report.

Finance
Council borrowing is effectively guaranteed by the State Government, and as such any borrowing
must be approved by the Minister for Local Government (in accordance with the Statutory Bodies
Financial Arrangements Act 1982).

The Investment of Surplus Funds Policy encourages diversification and aims at preservation of
capital as a priority over investment returns, thereby minimising risk.




                                                                                       Page 23 of 79