2017-06-15 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                               15 JUNE 2017


2.    Revenue Policy and Statement

Council is required to prepare and adopt a Revenue Policy and Statement in accordance with the
regulation. The purpose of the Policy and Statement is to set out the principles used by Council
for the levying of rates and charges; granting concessions for rates and charges; the recovery of
overdue rates and charges; and other cost recovery methods (i.e. fees and charges). In addition,
the Revenue Statement provides for the amounts of each rate and charge to be levied for the
upcoming financial year.

The Revenue Policy and Statement generally follow the same format as was adopted for the
2016/17 year.

3.    Debt Policy

The Debt Policy follows the same format as was adopted for the 2016/17 year. 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.

New borrowings proposed in the 2017/18 budget include $975,000 towards funding the of the
new planning scheme development, in addition to $250,000 for the North Shore Campground
redevelopment detailed design. The proposed borrowings have no significant impact on the long
term financial position of Council, as evidenced through the net financial liabilities sustainability
indicator, with overall debt levels reducing given expected repayments of existing debt will be
higher than proposed borrowings.

4.    Investment of Surplus Funds Policy

The Investment of Surplus Funds Policy remains largely unchanged from 2016/17 and outlines
how Council can invest community funds based on certain parameters including authorised
investments and acceptable financial institutions to minimise risk. The only change made relates
to providing a small 10 basis point margin to give preference to those financial institutions not
investing in fossil fuel companies when seeking comparative quotes.

5.    Procurement Policy

The Procurement Policy sets out the arrangements for the purchasing of goods and services by
Council having regard to the sound contracting principles outlined in the Local Government Act
2009. The Policy also specifies the relevant expenditure thresholds and related obligations that
must be followed when procuring goods and services on behalf of Council. A minor change has
been made to the policy to reflect Council’s use of the Local Buy vendor panel marketplace e-
quotation tool which has been recently implemented.

Previous Council Consideration

The current policies were previously adopted by Council at the 29 June 2016 Special Budget
meeting




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