2016-06-16 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                16 JUNE 2016


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
2015/16 year.

3.    Non-Current Asset Accounting Policy

The Non-Current Asset Accounting policy provides a framework for the recognition and control of
Council’s significant asset base in accordance with legislative requirements and in support of
Council’s asset management approach. The policy outlines the relevant asset classes of Council
and also how and when assets are recognised, how they are valued on an ongoing basis, how
assets are to be recorded in Council’s systems, in addition to threshold values for asset recognition.

4.    Debt Policy

The Debt Management Policy follows the same format as was adopted for the 2015/16 year. In
accordance with legislation, Council must adopt a Debt Management 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 2016/17 budget include $2.8 million towards funding the
construction of the Rufous Street commercial building, in addition to funding of the new planning
scheme development. 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 remaining largely the same as 2015/16.

5.    Investment Policy

The Investment Policy 2016/17 remains unchanged from 2014/15 and outlines how Council can
invest community funds based on certain parameters including authorised investments and
acceptable financial institutions to minimise risk.

6.    Procurement Policy

The Procurement Policy has been provided for adoption with the 2016/17 budget policies given its
significance and to ensure appropriate governance practice is followed given this is the first budget
adopted by Council since the election in March 2016. 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.


Previous Council Consideration

The current policies were previously adopted by Council at the 29 June 2015 Special Budget
meeting (with the exception of the Procurement and Non-Current Asset policies which were
adopted at separate previous Council meetings).


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