2020-07-10 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                               10 JULY 2020


2                      ADOPTION OF 2020-21 BUDGET POLICIES
DOCUMENT INFORMATION




Author                            Director Corporate Services, Michael Shave
                                  Corporate Services Department

Index                             ECM/ Subject/ 2020 - 2021 Budget

Attachments                       1.    Financial Sustainability Policy
                                  2.    Investment of Surplus Funds Policy
                                  3.    Debt Policy


EXECUTIVE SUMMARY
The Local Government Act 2009 requires Council to adopt a number of policies related to the
annual budget to ensure the effective and efficient financial governance of the organisation. The
Financial Sustainability Policy is a discretionary policy adopted by Council which is also included
in the budget policy suite. The Debt Policy must be adopted annually; and the Investment of
Surplus Funds Policy should be reviewed periodically to ensure it continues to meet Council’s
strategic and operational objectives.

RECOMMENDATION
That Council note the report by the Director Corporate Services to the Special Meeting dated 10
July 2020 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 2020/21
                       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 2020/21
                       financial year the Debt Policy, which is provided as Attachment 3 to the report.



REPORT
The Local Government Regulation 2012 Sections 191 and 192 require Council to prepare an
Investment Policy and Debt Policy. The Debt Policy is required to be adopted each financial year
with the Investment of Surplus Funds Policy to be reviewed on an annual basis.

The Financial Sustainability Policy is not required under legislation although is now embedded as
an essential Noosa policy to reinforce Council’s commitment to the prudent financial management
of Council’s resources on behalf of our community.

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.




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