2015-04-28 Planning and Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                     28 APRIL 2015




                                                                               Council Policy
                                                                  MANAGEMENT OF
                                                                  RESTRICTED CASH


 Corporate Plan Priority:                      A financially sustainable Council

 Adopted by Council:

 Policy Author:                                Manager Financial Services



POLICY BACKGROUND

The purpose of this policy is to establish a framework for the ongoing management of cash
reserves, including the establishment of targets and thresholds where appropriate.


COUNCIL POLICY

Restricted cash reserves are established to set aside funds for Council to allocate against
specific future projects and activities, and to ensure sufficient working capital to meet current
and long term financial obligations.

All reserves are fully cash backed, and are established for specific purposes. Restricted
cash reserves fall into the categories of:

1. Externally Restricted Cash
    Unexpended levy funds;
    Contributions received from developers for specific purposes constrained under
      legislation;
    Unexpended grants and subsidies received from State or Federal Government
      agencies and provided for specific purposes;
    Unexpended carbon tax liabilities collected; and
    Unexpended loan funds.

2. Internally Restricted Cash
    Natural disaster rehabilitation;
    Asset renewal;
    Waste management;
    Plant replacement; and
    Specific purpose.

Within each category, accounts will be created in Council’s financial system for each
specified purpose.




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