Meeting papers

GENERAL COMMITTEE MEETING                                                            14 AUGUST 2023




The table below provides an overview of these movements:

 Item                                                                                             FTE
 Establishment report as at 30 June 2023                                                       432.38
 Correction for casual staff recognised as permanent establishment                               (0.46)
                                                                                               431.92
 Project Support Officer (Conversion to Permanent)                                                0.60
 Administration Support Officer                                                                   1.00
 Establishment as at 14 August 2023                                                            433.52

Any other temporary staff changes are not permanent establishment, and as such not included in
the above table.

5. Debt Policy Update

In accordance with legislation, Council must adopt a Debt Policy that includes an outline of
borrowings proposed within the current year plus a forecast of borrowings over the ensuing 9-year
period. The adopted FY 2023/24 budget forecast borrowing of $3,15 million to fund waste
management infrastructure and this was reflected in the Debt Policy adopted at the time.

In the FY 2022/23 budget it was proposed the borrowings of $5.76 million would be drawn down to
fund waste management capital infrastructure works and Noosa Water lock replacement works
however due to interest rates rising to their highest level in 20 years, the timing of construction works
and Council’s ability to fund the projects in the short term, this drawdown was delayed to allow
lending rates to stabilise and to allow Council to monitor rates.

Accordingly, an amendment to the current debt policy is required to reflect this change so that
Council is able to drawdown funds when it needs to. The revised drawdown amount for FY2023-24
is $8.91 million and has been reflected in the updated Debt Policy contained in Attachment 6.

Note, Council borrowings are effectively guaranteed by the State Government, and as such any
borrowing must be approved by the Minister for Local Government (in accordance with the Statutory
Bodies Financial Arrangements Act 1982).
Link to Corporate Plan

Theme No. 5. - Excellence

This theme focuses on customer experience, financial sustainability, innovation and technology,
levels of service, governance, our employees and volunteers, funding streams and asset
management practices.

Objective 5.2 - Continue to deliver a financially sustainable Council that has the resources now and
into the future to achieve its strategic objectives. This will be supported through the introduction of
enhanced sustainability reporting and performance indicator, as well as ESG (environment social
and governance) accounting practices as guided by statutory requirements.




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