2016-06-16 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                              16 JUNE 2016


3                        BUDGET POLICIES 2016/17
DOCUMENT INFORM AT ION




Author                              Director Corporate Services, Michael Shave
                                    Corporate Services Department

Index                               ECM/ Subject/ 7.12 – 2016-2017 Budget

Attachments                         (hard copy attachments provided at tabs 7 – 13 of Councillor budget packs)
                                    1.    Financial Sustainability Policy
                                    2.    Revenue Policy
                                    3.    Revenue Statement
                                    4.    Non-Current Asset Accounting Policy
                                    5.    Debt Policy
                                    6.    Investment Policy
                                    7.    Procurement 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 Revenue Policy (and Revenue Statement), and Debt Policy must
be reviewed annually; and the Investment Policy, Procurement Policy and Non-Current Asset
Policy 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 16
June 2016 detailing the proposed 2016/17 budget related policies and request staff to make any
required amendments to the policies and present them for adoption at the Special Meeting on 29
June 2016.


REPORT
The financial policies required under sections 191-193 of the Local Government Regulation 2012
provide a framework under which the respective activities are undertaken throughout the year.
These policies include the Revenue Policy, Debt Policy and Investment Policy. The Financial
Sustainability Policy is not required under legislation although is considered an appropriate policy
to adopt to reinforce Council’s commitment to prudent financial management of Council’s
resources on behalf of our community. The Non-Current Asset Policy has been included for
adoption with the budget given the direct relationship to Council’s Capital Works Program.

Note that the policies for adoption were also provided to Council’s Audit & Risk Committee meeting
on 10 June 2016 for information.

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.



                                                                                                     Page 8 of 13