2014-06-18 Special Meeting Budget

STRATEGIC POLICY - 2014/2015 DEBT POLICY




         The balance of the outstanding loan will be recorded as a liability in the balance sheet of the
          business activity and an asset in the balance sheet of Council.
         Provision for the repayment of the loan will be included in the annual budget for the business
          activity.

Reporting
Details of outstanding loans will be reported annually in Council’s Financial Statements and Annual
Report.


ROLES AND RESPONSIBILITIES
Pursuant to section 192 of the Local Government Regulation 2012 detail of the proposed
borrowing for the current year and the future 9 years will be prepared annually as part of the
budget process.

Applications outlining proposed borrowings will be forwarded to the Minister for Local Government
for approval.

Credit Reviews will be undertaken periodically by the QTC on behalf of the Minister for Local
Government.

Loan proceeds will be drawn down subject to cash flow requirements annually so as to minimise
interest expenses.

All lease proposals will be referred to Financial Services for evaluation against the QTC Asset
Financing Model to assess alternatives for asset acquisition and to ensure statutory compliance.



RELEVANT LEGISLATION
Local Government Act 2009
Local Government Regulation 2012
Statutory Bodies Financial Arrangements Act 1982
Statutory Bodies Financial Arrangements Regulation 2007




Version control:
    Version     Reason/ Trigger                 Change (Y/N)   Endorsed/ Reviewed by     Date

    1.1         Annual Review                         Y        Wayne Jensen              02/06/2014

    1.0         Create new                                     Wayne Jensen              23/12/2013




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