2015-04-28 Planning and Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                           28 APRIL 2015


Asset Renewal

Council’s Corporate Plan places a priority on maintaining and renewal of existing community
assets rather than on building new assets. As such the long term financial forecast aims to
achieve expenditure of an amount equivalent to 100% of the annual depreciation budget on
renewal and refurbishment of existing assets. Where funds are not fully allocated within any
financial year, any remaining surplus will be constrained to provide for expenditure in a
subsequent period where required.

Waste Management Landfill Rehabilitation

Council undertakes a full cost pricing model for determining charges to apply for waste
management operations, which includes allocation of funds for future rehabilitation and
replacement of assets in accordance with a long term financial forecast. Accordingly,
unspent funds will be constrained to meet future business strategy and landfill rehabilitation
obligations.

Plant Replacement

To ensure sufficient funds are available to finance the ongoing replacement of Council’s
plant and fleet, any operational surplus or unexpended depreciation amount from fleet
activities will be constrained to provide for expenditure in a future period.

Specific Purpose

Council budgets annually for a range of anticipated costs for legal and insurance claims that
are part of normal operational activities. Any unspent portion of these budgets will be
constrained to provide for unforeseen future risks as they arise.

Separate accounts within this category will also be maintained for stand-alone activities
subject to external funding, such as Noosa Community Care.

ROLES AND RESPONSIBILITIES

The Director Corporate Services is Policy owner and responsible for oversight of the
financial management of Council.

The Manager Financial Services has operational responsibility for the development of
Council’s long term financial forecast and annual budget, and for oversight of Council’s
treasury function including cash management.

RELEVANT LEGISLATION

There are no specific legislative requirements around the adoption of a formal policy
regarding the restriction of cash, however, where unspent funds are derived from special
rates and charges, specific grants, or developer contributions, the funds can only be
allocated for the original purpose.


Version control:
 Version      Reason/ Trigger           Change (Y/N)   Endorsed/ Reviewed by        Date

 1.0          Create new                               Manager Financial Services   18/04/2015




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