Draft Borrowing Policy Exhibition

Project Overview

Have your say on Council's Draft Borrowing Policy which establishes objectives and principles that outline when it is appropriate to undertake borrowings.

Council recognises that borrowings can support intergenerational equity principles, where an ‘under-use’ of debt would result in intergenerational inequity in service provision and user-pays principles and an inability to meet the needs and preferences for growth of the municipality. The Borrowings Policy  specifies the framework within which Council will borrow money.

The purpose of Council’s Borrowing Policy is to:

  • Establish objectives and principles that outline when it is appropriate for Council to undertake borrowings within a sound financial management framework consistent with Section 104 of the Local Government Act 2020;
  • Set out the manner in which Council may establish and manage a debt portfolio;
  • Ensure Council’s new borrowings comply with legislative requirements.

As per the draft Policy, Council may consider borrowing as an alternative financing option for:

  • Capital works projects that are of strategic significance (that could not otherwise be financed from ongoing income sources and provide benefit across generations); or
  • To meet Council’s obligations in relation to future defined benefit superannuation calls, if required.

Please share your feedback via the survey. 

  • Review of existing policy

    Finance staff reviewed the current policy in preparation for the redevelopment of the policy. 

  • Council's Audit and Risk Committee reviewed the Draft Policy

    August 2022 

  • Draft policy presented to Council

    2 November Ordinary Meeting of Council 

  • Draft policy exhibited for public feedback

    14 November - 12 December 2022 

  • Feedback analysed

    December - January 2022

  • Community feedback presented to Council

    1 February Ordinary Meeting of Council 

  • Final policy endorsed

    Dependent on community feedback:

    • February Ordinary Meeting of Council; or
    • March Ordinary Meeting of Council 
  • Policy review up until 2026 (when applicable)

    The policy is reviewed when any of the following occur:

    • The relevant legislation is amended or replaced
    • Other circumstances as determined from time to time by a resolution of the Council
    • Any other change or update which materially impacts and alters this policy