2018-07-06 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                                  6 JULY 2018


2                        ADOPTION OF 2018-19 BUDGET POLICIES
DOCUMENT INFORM AT ION




Author                              Director Corporate Services, Michael Shave
                                    Corporate Services Department

Index                               ECM/ Subject/ 2018 - 2019 Budget

Attachments                         1.    Financial Sustainability Policy
                                    2.    Investment of Surplus Funds Policy
                                    3.    Debt Policy
                                    4.    Procurement Policy
                                    5.    General Rate Donations Policy



EXECUTIVE SUMMARY
The Local Government Act 2009 requires Council to adopt a number of policies related to the
annual budget to ensure 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 and
Procurement policies should be reviewed periodically to ensure they continue to meet Council’s
strategic and operational objectives.

RECOMMENDATION
That Council note the report by the Director Corporate Services to the Special Meeting dated 6
July 2018 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 2018/19
                         financial year the Investment of Surplus Funds Policy, which is provided as Attachment 2
                         to the report.
C.                       Pursuant to section 192 of the Local Government Regulation 2012, adopt for the 2018/19
                         financial year the Debt Policy, which is provided as Attachment 3 to the report.
D.                       Pursuant to section 198 of the Local Government Regulation 2012, adopt the Procurement
                         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.



REPORT
The Local Government Regulation 2012 Sections 191, 192 and 198 require Council to prepare
an Investment Policy, Debt Policy and Procurement Policy. The Debt Policy is required to be
adopted each financial year with the Investment of Surplus Funds Policy and Procurement Policy
to be reviewed on an annual basis.

The Financial Sustainability Policy is not required under legislation although is considered an
appropriate policy to adopt to reinforce Council’s commitment to the prudent financial
management of Council’s resources on behalf of our community. The General Rate Donations
Policy is a new policy introduced to apply to rating concessions provided for the 2018/19 financial
year.


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