2014-01-13 Item 6.3 Appendices 1-5

ORDINARY MEETING AGENDA                                                        2 JANUARY 2014


The Investment Policy outlines Council’s overall investment objectives and risk philosophy and
outlines procedures to be applied in achieving those objectives.

The Debt Policy shows the proposed loan borrowings for 2013/14 and outlines the term over
which Council plans to repay existing and new loans. The Debt Policy would normally outline
Council’s proposed borrowings over a 10-year period, however due to transitional arrangements
the Debt Policy only provides for loans expected to be undertaken in 2013/14.

5.   Budget

Section 169 of the Local Government Regulation 2012 outlines the content to be included in
Council’s budget. The prepared budget contains the financial statements for the period 1 January
to 30 June 2014. The forecast financial position to 30 June 2014 is based on preliminary opening
estimates of the assets and liabilities expected to be transferred from Sunshine Coast Regional
Council, with actual figures not expected until after February 2014.

The Capital Works Program is based on identified current priorities for key asset classes within
available funding constraints. Significant work will be required to be undertaken to develop asset
management plans for each asset class, with outputs of the plans to form the basis of future
Capital Works forecasts.

BUDGET & FINANCIAL ASPECTS
The new Council has a number of financial challenges to address to ensure its long term viability.
The 2013-14 budget has been established conservatively, to ensure cash flows can be managed
and the resultant costs of de-amalgamation appropriately funded with minimal impact on
Council’s overall equity position.

RECOMMENDATION
That Council receive and note the report by the Interim Director Organisational Services to the
Ordinary Meeting dated 2 January 2014 and adopt the 2013/2014 Operational Plan and Budget
as outlined in the attachments, incorporating:

1.   Operational Plan;
2.   Revenue Policy;
3.   Revenue Statement;
4.   Register of Cost-recovery Fees and Commercial Charges
5.   Investment Policy;
6.   Debt Policy;
7.   Budgeted Financial Reports; including:
     a)    Statement of Comprehensive Income;
     b)    Statement of Financial Position;
     c)    Statement of Cash Flows;
     d)    Statement of Changes in Equity;
     e)    Statement of Capital Funding;
     f)    Measures of Financial Sustainability; and
     g)    Schedule of Capital Works.




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