11 FINANCE AND ADMINISTRATION - Upper Lachlan Shire · 11.4 Library 1st Quarter Report 2012 - 2013...

Ordinary Meeting held on 15 November 2012 73

11 FINANCE AND ADMINISTRATION

The following items are submitted for consideration -

11.1 Investments to 31 October 2012 174 11.2 Bank Balances and Reconciliation to 31 October 2012 177 11.3 Rates and Charges Outstanding as at 31 October 2012 179 11.4 Library 1st Quarter Report 2012 - 2013 183 11.5 Quarterly Budget Review Statements 2012-2013 186 11.6 Presentation of the 2011/2012 Annual Report 245 11.7 NSW Local Infrastructure Renewal Scheme 248 11.8 Financial Sustainability Assessment of Council 253

Finance and Administration - 15 November 2012

Ordinary Meeting of Council held on 15 November 2012 Page 174

ITEM 11.1 Investments to 31 October 2012

FILE REFERENCE I12/560

AUTHOR Manager of Finance and Administration

ISSUE Council Investments Portfolio as at 31 October 2012. RECOMMENDATION That - 1. Council receives and note the report as information.

BACKGROUND A summary of the investment portfolio register to 31 October 2012 for the information of Council. REPORT

Investment Institution Type

Investment Face Value

Market Value 30/09/2012

Interest Rate

Term Days

Reset Date

Maturity Date Interest Due

CBA Call $500,000 $500,000 3.20% 30 30-11-12 $1,315.07

Westpac CDO $500,000 $439,660 4.78% 91 21-12-12 21-06-13 $5,958.63

ANZ Averon FRN $500,000 $478,250 0.00% 91 22-12-12 20-06-13 $0.00

Adelaide Bank TD $400,000 $400,000 4.90% 91 28-11-12 $4,886.58

Adelaide Bank TD $400,000 $400,000 4.90% 105 19-12-12 $5,638.36

Adelaide Bank TD $500,000 $500,000 4.90% 112 09-01-13 $7,517.81

Adelaide Bank TD $400,000 $400,000 5.00% 182 30-01-13 $9,972.60

Adelaide Bank TD $800,000 $800,000 5.00% 182 13-02-13 $19,945.21

Bank of Qld TD $500,000 $500,000 5.10% 119 09-01-13 $8,313.70

Bank of Qld TD $500,000 $500,000 4.75% 98 30-01-13 $6,376.71

Bank of Qld TD $400,000 $400,000 5.05% 146 06-02-13 $8,080.00

Bank of Qld TD $1,400,000 $1,400,000 4.80% 126 06-02-13 $23,197.81

Bank of Qld TD $1,000,000 $1,000,000 5.00% 147 20-02-13 $20,136.99

Bank of Qld TD $400,000 $400,000 5.00% 154 27-02-13 $8,438.36

Bank of Qld TD $400,000 $400,000 4.75% 161 13-03-13 $8,380.82

Bankwest TD $500,000 $500,000 5.10% 91 21-11-12 $6,357.53

Finance and Administration INVESTMENTS TO 31 OCTOBER 2012 cont’d


Bankwest TD $400,000 $400,000 5.10% 98 12-12-12 $5,477.26

Bankwest TD $600,000 $600,000 4.35% 70 02-01-13 $5,005.48

Bankwest TD $400,000 $400,000 4.35% 75 14-01-13 $3,575.34

IMB TD $300,000 $300,000 5.30% 182 14-11-12 $7,928.22

IMB TD $400,000 $400,000 5.10% 91 21-11-12 $5,086.03

IMB TD $400,000 $400,000 4.90% 90 05-12-12 $4,832.88

IMB TD $300,000 $300,000 4.80% 118 16-01-13 $4,655.34

IMB TD $500,000 $500,000 4.80% 175 06-03-13 $11,506.85

IMB TD $400,000 $400,000 4.40% 182 01-05-13 $8,775.89

St George TD $700,000 $700,000 5.00% 154 07-11-12 $14,767.12

St George TD $500,000 $500,000 4.81% 93 05-12-12 $6,127.81

St George TD $500,000 $500,000 4.90% 168 23-01-13 $11,276.71

St George TD $500,000 $500,000 4.40% 154 27-03-13 $9,282.19

St George TD $400,000 $400,000 5.15% 371 21-08-13 $20,938.63

$15,400,000 $15,317,910 $264,268.19 COUNCIL INVESTMENT PERFORMANCE: - BUDGET COMPARISON TO 31 OCTOBER 2012 Interest on Investments Received YTD $270,811 Annual budgeted amount for all funds $513,000 Percentage of Interest Received YTD 52.59% Percentage of Year Elapsed 33.70% BBSW COMPARISON TO 31 OCTOBER 2012 Average market interest rate (90 day BBSW) 3.48% Average return on Term Deposits 5.20% Average return on FRNs and CDOs etc. 2.24% The above investments have been made in accordance with Section 625, of the Local Government Act 1993, the Local Government Regulations, the Ministerial Investment Order and the Council’s Investment Policy.

Finance and Administration INVESTMENTS TO 31 OCTOBER 2012 cont’d


SUMMARY OF AVAILABLE CASH AT 31 OCTOBER 2012 TOTAL INVESTMENTS: - $ 15,317,910.00 LESS RESTRICTED ASSETS: - General Fund Reserves $ 8,874,716.53

Water Supply Fund Reserves $ 3,266,150.90

Sewer Fund Reserves $ 2,325,779.26

Domestic Waste Management Fund Reserves $ 839,557.25

Trust Fund Reserves $ 11,706.06

POLICY IMPACT Nil OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receives and note the report as information. ATTACHMENTS Nil



ITEM 11.2 Bank Balances and Reconciliation to 31 October 2012


AUTHOR Director Finance and Administration

ISSUE Statement of Bank Balances and Reconciliation to 31 October 2012. RECOMMENDATION That - 1. Council receive and note the report as information.

BACKGROUND Nil REPORT STATEMENT OF BANK BALANCE & RECONCILIATION

General Ledger Balance brought forward 30 September 2012

96,493.78

Add Receipts for October 2012

3,212,795.77

3,309,289.55

Deduct Payments of October 2012

3,227,622.85

Balance as at 31 October 2012

81,666.70

Balance as per Bank Statement 31 October 2012

320,960.58

Add: Outstanding Deposits

6,473.13

327,433.71

Less Unpresented Cheques

245,767.01

Balance as at 31 October 2012

81,666.70 POLICY IMPACT Nil

Finance and Administration BANK BALANCES AND RECONCILIATION TO 31 OCTOBER 2012 cont’d


OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receive and note the report as information. ATTACHMENTS Nil



ITEM 11.3 Rates and Charges Outstanding as at 31 October 2012



ISSUE Rates and Charges Outstanding Report 2012/2013. RECOMMENDATION That - 1. Council receive and note the report as information.

BACKGROUND A summary report of the Rates and Charges outstanding as at 31 October 2012. REPORT There are attached reports titled “Rate Collection 2013 Year” and “Arrears of Rates by Category” for the 2012/2013 financial year. A comparison of the rates and charges outstanding percentage to last financial year is highlighted in the below table:-

Description

31/10/2012

31/10/2011

31/10/2010

Total % Rates and Charges Outstanding

58.83% 58.37% 58.51%

Total $ Amount Rates and Charges Outstanding

$5,516,617 $5,231,789 $5,015,997

Total $ Amount of Prior Years Rates and Charges Arrears

$ 149,364 $ 107,132 $ 86,762

POLICY IMPACT Nil OPTIONS Nil

Finance and Administration RATES AND CHARGES OUTSTANDING AS AT 31 OCTOBER 2012 cont’d


FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receive and note the report as information. ATTACHMENTS A. Rate Arrears by Year - Nov 12 AttachmentB. Rate Arrears by Category - Nov 12 Attachment

Item: 11.3 Attachment A.: Rate Arrears by Year - Nov 12


Item: 11.3 Attachment B.: Rate Arrears by Category - Nov 12




ITEM 11.4 Library 1st Quarter Report 2012 - 2013



ISSUE A summary of the activities carried out in the Shire libraries in the first quarter of 2012/2013. RECOMMENDATION That - 1. Council receive and note the report as information.

BACKGROUND Nil REPORT

Upper Lachlan Shire Libraries

QUARTERLY REPORT: July - September 2012

LIBRARY USAGE:

Crookwell Gunning Loans 11,619 2,258 New Members 41 5 Internet Sessions 1,026 437 Visitors 6,490 2,546 Hours open per week 31. 5 17

OVERVIEW: With the implementation of the new library structure the Southern Tablelands Library Co-operative Agreement came into effect for the Upper Lachlan Shire Library Service from 1 July 2012. Two promotional activities were conducted during the quarter.

Finance and Administration LIBRARY 1ST QUARTER REPORT 2012 - 2013 cont’d


EVENTS AND PROMOTION: Crookwell and Gunning Libraries: • Eight promotional articles were published, as time allowed, in the Crookwell

Gazette the Gunning Lions Newsletter, Goulburn Post, Upper Lachlan Shire’s Newsletter, and ‘What’s on in the Shire of Villages’ newsletter.

• During the quarter, displays showcasing a selection of fiction and non-fiction resources based around the themes of the National Year of Reading provided an interesting variety of items for loan in our libraries. Displays included ‘Get Reading – 50 books you can’t put down!’ ‘Pack your bags’, ‘Cracking Good Reads’ and ‘Spring into the Garden’.

Crookwell Library Events: • In co-operation with the organisers of the Mary Gilmore Weekend the Library

mounted a display featuring works by Mary Gilmore and other Australian poets and authors during August.

Gunning Library Events: • Sydney based author of ‘Think Smart & Lose Weight’, Sandy Brocking gave a

motivational talk to a gathering of 18 ladies on the importance of a healthy diet and the benefits of making some small changes to our lifestyles. Sandy’s talk was followed by morning tea in the library.

CHILDREN AND YOUNG PEOPLE: Gunning: • The fortnightly StoryTime sessions at Gunning continue to be very well attended.

• Gunning Primary School students and the Gunning and District - Before and After

School Care continue to use the library on a weekly basis. Crookwell: • With assistance from members of the Black Sheep Artists, two ‘Paint a T’

workshops were held in the September school holidays. Thirty five children ranging in age from 7 to 12 attended the workshops which were sponsored by the Crookwell Library Friends.

• The Library’s weekly StoryTime sessions continue to be popular with up to 20 children and their carers attending each week.

• Several pre-school groups and primary school classes visited the library during

the quarter while the Neighbourhood Centre’s after school care and vocational care groups regularly utilise the library’s facilities.

COLLECTIONS: • The complete collection of DVDs and music CDs from Gunning Library were

swapped with similar items from Crookwell Library.

Finance and Administration LIBRARY 1ST QUARTER REPORT 2012 - 2013 cont’d


• The complete collection housed in the Kids Zone at Crookwell Library was

weeded during September. With the growing popularity of the DVD collection, all videos have now been withdrawn from the collections at both Crookwell and Gunning Libraries.

Kerri-ann Pratley Manager, Library Services POLICY IMPACT Nil OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receive and note the report as information. ATTACHMENTS Nil



ITEM 11.5 Quarterly Budget Review Statements 2012-2013



ISSUE A financial summary and Key Performance Indicators report for the 1st Quarter Budget Review in 2012/2013. RECOMMENDATION That - 1. Council adopts the 1st Quarter Budget Review Statements for 2012/2013

including revotes of income and expenditure to the Operational Plan; and 2. Council notes the Operational Plan Performance Summary Report.

BACKGROUND A financial summary and Key Performance Indicators report for the 1st Quarter Budget Review in 2012/2013. REPORT The Quarterly Budget Review Statements have been prepared for Upper Lachlan Shire Council in accordance with the Division of Local Government, Department of Premier and Cabinet guidelines. The quarterly review statements are comprehensive and should be read in conjunction with the Operational Plan performance summary report. The Income and Expenses Budget Review Statement provides an overview of Council operations for the 1st Quarter of 2012/2013 financial year. The following is a summary of the data as at 30 September 2012 – see Attachment C:- 1. Council has raised 47.08% of the operating budgeted income.

2. Council has expended 27.03% of the operating budgeted expenditure.

3. Capital grants and contributions income received is 3.72% of the budgeted

capital income.

4. Council has expended 32.27% of the budgeted capital expenditure (including previous year’s reserves and revotes) on asset acquisitions and renewals.

5. Capital works transfer from reserves is 38.79% of the total reserves movements budgeted in 2012/2013.

Finance and Administration QUARTERLY BUDGET REVIEW STATEMENTS 2012-2013 cont’d


Budget Revote’s

Council resolved an original operating budget surplus, before capital grants and contributions, totalling $694,500. Since the original budget was adopted there are operational budget revotes for the 1st Quarter totalling $380,070 which is detailed in Attachment E. Therefore the revised budget projects a surplus of $314,430 (before capital grants and contributions). The total budgeted operating surplus (including capital grants and contributions) now totals $6,927,930. Operational Budget Analysis Council’s operational budget analysis is outlined in Attachment C. The year to date actual to budget operating income shows that total revenue received year to date is comparable to the anticipated budget forecast. Likewise the year to date actual to budget operating expense shows that total expenditure year to date is similar to that anticipated. For the operating budget, the forecasted net variation to budget should be minimal at year end barring any significant unforeseen event. It is worthwhile to note the Operating Budget Review Statement by Function/Activity Attachment D. This document shows the net budgeted cost of Council’s various functions and activities and illustrates the cost to Council in providing a particular service.

Capital Budget Analysis The total capital expenditure, including accounts payable commitments, for actual to budget at year to date for all funds is 32.27%. Attachments H and I provide further detail in regards to progress of each individual capital project. The General Fund capital expenditure program is 21.78% complete year to date. This includes the purchase of several heavy plant items ($673,750 or 51.12% of budget) and significant progress in the scheduled replacement of motor vehicles ($168,789 or 54.54% of budget). The Roads to Recovery program relating to various local road gravel resheeting projects is 35.67% complete year to date. The Water Fund capital expenditure program is 43.78% complete year to date. This is due to significant expenditure being incurred or committed in relation to the Taralga Water Supply augmentation and the Gunning/Dalton Water Supply project. As at 30 September 2012, there has been no significant receipt of capital grants and contributions (3.72%). The low percentage year to date is due to the timing of the payment of grant funds by the Federal and State Governments, this is consistent with previous years.

Finance and Administration QUARTERLY BUDGET REVIEW STATEMENTS 2012-2013 cont’d


Cash flow Council’s projected short term liquidity financial position is satisfactory, the total investments at market valuation as at 30 September 2012, totals $16,010,005. The Cash and Investments Quarterly Budget Review Statement (Attachment F) details the unrestricted cash, internal restrictions and external restrictions both in total and movements to 30 September 2012. Note: The total cash and investments of $16 million include external restricted income of $1.8 million for advance payments of Financial Assistance Grants and $1.9 million for Federal Government SBC water supply grant. There have been large cash outflows this quarter for works carried out in relation to Natural Disaster road funding. These payments are reimbursed by RMS to Council in arrears upon approval and certification of Council payment claims. POLICY IMPACT Nil OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Total net revotes in the first quarter has reduced the operational budget surplus by $380,070. RECOMMENDATION That - 1. Council adopts the 1st Quarter Budget Review Statements for 2012/2013

including revotes of income and expenditure to the Operational Plan; and 2. Council notes the Operational Plan Performance Summary Report. ATTACHMENTS A. Quarterly Budget Review Statement by Responsible Accounting

Officer Attachment

B. Contracts, Consultancy and Legal Expenses Budget Review Statement

Attachment

C. Income and Expenses Budget Review Statement AttachmentD. Operating Budget Review Statement by Function/Activity AttachmentE. Material Variations and Revotes Budget Review Statement AttachmentF. Cash and Investments Budget Review Statement AttachmentG. Capital Budget Summary Review Statement AttachmentH. Capital Expenditure (Assets) Budget Review Statement AttachmentI. Capital Income (Grants and Contributions) Budget Review

Statement Attachment

J. KPI - Operational Plan 1st Quarter 2012-2013 Attachment

Item: 11.5 Attachment A.: Quarterly Budget Review Statement by Responsible Accounting Officer


Item: 11.5 Attachment B.: Contracts, Consultancy and Legal Expenses Budget Review Statement


Item: 11.5 Attachment C.: Income and Expenses Budget Review Statement

Ordinary Meeting of Council held on 15 November 2012 1

Item: 11.5 Attachment D.: Operating Budget Review Statement by Function/Activity


Item: 11.5 Attachment E.: Material Variations and Revotes Budget Review Statement


Item: 11.5 Attachment F.: Cash and Investments Budget Review Statement


Item: 11.5 Attachment G.: Capital Budget Summary Review Statement


Item: 11.5 Attachment H.: Capital Expenditure (Assets) Budget Review Statement


Item: 11.5 Attachment I.: Capital Income (Grants and Contributions) Budget Review Statement


Item: 11.5 Attachment J.: KPI - Operational Plan 1st Quarter 2012-2013




ITEM 11.6 Presentation of the 2011/2012 Annual Report



ISSUE Presentation of the Upper Lachlan Shire Council 2011/2012 Annual Report. RECOMMENDATION That - Council resolves to adopt the Upper Lachlan Shire Council Annual Report for 2011/2012 in accordance with Section 428 and 508, of the Local Government Act 1993, Clauses 132, 217, 218-226 of the Local Government (General) Regulation 2005, Premier's Memorandum No. 93-4, Section 125 and Clause 13 of the Government Information (Public Access) Act 2009 and Regulation, Section 33 of the Privacy and Personal Information Protection Act 1998, and Section 93G(5) of the Environmental Planning and Assessment Act 1979.

BACKGROUND Nil REPORT Councils are required to prepare an Annual Report in accordance with Section 428, of the Local Government Act 1993, and Part 9, Division 7, of the Local Government (General) Regulation 2005. The Upper Lachlan Shire Council is required, within 5 months after the end of each financial year, to furnish the Division of Local Government, Department of Premier and Cabinet with a copy of the Annual Report. Upper Lachlan Shire Council has prepared an Annual Report relating to Council’s operations and achievements with respect to the objectives and performance targets set out in Council’s 2011/2012 Operational Plan. It is a legislative requirement that the Annual Report contains the following information:- • A full copy of Council’s audited Financial Statements; • A full copy of Council’s Social and Community Plan; • Comparisons of Council’s actual performance of principal activities with projected

performance of those activities; • A report as to the State of the Environment in the Shire; • A report on the condition of public works;

Finance and Administration PRESENTATION OF THE 2011/2012 ANNUAL REPORT cont’d


• A summary of legal proceedings; • A statement regarding the provision of fees and facilities to the Mayor and

Councillors and total amount of money expended on payment of Councillor expenses;

• A statement regarding senior staff employed by Council; • Details of each contract awarded by Council exceeding $150,000; • A report regarding bush fire hazard reduction activities; • Details of multicultural programs; • Details of subsidised private works; • Details of total amount of contributions and donations made under Section 356; • A statement of human resource activities; • A statement regarding Council’s Equal Employment Opportunity Management

Plan; • A statement of external bodies that exercised functions delegated by Council; • A statement of all companies in which Council held a controlling interest; • A statement regarding Council’s establishment of complaints handling mechanism

for competitive neutrality complaints; • Comparison of actual Stormwater Management services with proposed services

stated in the Council Operational Plan; • Information included on Government Information (Public Access) (GIPA) activities

in accordance with GIPA Act and Regulation requirements; • Information included on Public Interest Disclosures in accordance with the Act; • A statement of activities in relation to companion animal management; • Privacy and Personal Information Protection Act compliance with requirements of

Section 33 (3); The Local Government (General) Regulation 2005 stipulate information that is required to be included in Council’s Annual Report, including Clause 217, containing requirements such as details of interstate and overseas visits by Councillors or Council staff, a summary of Council Category 2 business activities and a number of other statements. All of the above requirements have been met and a copy of the 2011/2012 Annual Report is attached for Councillor’s information. Senior management of each Department of Council’s operations has provided details concerning the components of the Annual Report relating to their specific responsibilities. POLICY IMPACT Nil OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Nil

Finance and Administration PRESENTATION OF THE 2011/2012 ANNUAL REPORT cont’d


RECOMMENDATION That - Council resolves to adopt the Upper Lachlan Shire Council Annual Report for 2011/2012 in accordance with Section 428 and 508, of the Local Government Act 1993, Clauses 132, 217, 218-226 of the Local Government (General) Regulation 2005, Premier's Memorandum No. 93-4, Section 125 and Clause 13 of the Government Information (Public Access) Act 2009 and Regulation, Section 33 of the Privacy and Personal Information Protection Act 1998, and Section 93G(5) of the Environmental Planning and Assessment Act 1979. ATTACHMENTS A. Annual Report 2011-2012 - Annexure Appendix



ITEM 11.7 NSW Local Infrastructure Renewal Scheme



ISSUE NSW Local Infrastructure Renewal Scheme - Round 2 announced by NSW State Government. RECOMMENDATION That - 1. Council receive and note the report as information.

BACKGROUND Nil REPORT In January 2012, the NSW State Government announced the opening of the Local Infrastructure Renewal Scheme (LIRS). Round 2 of the LIRS funding is now open. The LIRS scheme will provide an interest expense subsidy for the funding of Council infrastructure backlog projects or enable the provision of new housing infrastructure. The Guidelines for the LIRS program are available to download at www.dlg.nsw.gov.au. The LIRS scheme is designed for subsidising interest rates on infrastructure loans taken out by NSW Councils. The maximum interest subsidy provided by the LIRS scheme in Funding Round 2 is 3% (previous Round was 4% interest subsidy). While there is no loan amount threshold, a preference will be given to new loans of $1 million or greater. A loan is to be incurred by Council with a financial institution for either; specific new infrastructure works and/or renewal of existing infrastructure. The LIRS application assessment criteria and supporting documentation requirements include:- • Council are to clearly show where the project or program ranks in the

infrastructure backlog needs; i.e. 10 year asset program incorporated in Council’s Infrastructure Plan;

• Demonstrate that the LIRS approval will accelerate the project commencement and support will only be provided to subsidise borrowings for projects that are in a reasonably advanced stage of preparation;

• Provide assurances the project will commence within twelve months of signing the LIRS Agreement;

http://www.dlg.nsw.gov.au/�

Finance and Administration NSW LOCAL INFRASTRUCTURE RENEWAL SCHEME cont’d


• An Asset Management Plan and Long Term Financial Plan must be submitted that includes the project or program and anticipated loan and repayments in a “post” loan Financial Sustainability report.

Conditions of LIRS scheme include:- 1. Applications that pass the assessment and eligibility criteria will be subject to a

NSW Treasury Corporation financial assessment and benchmarking review; 2. All LIRS approved loans must be external loans from third party lenders and

financial institutions; 3. Approved LIRS loans are not State Government Guaranteed; 4. The Division of Local Government Capital Expenditure Review (Capex)

requirements are to be complied with for projects over $1 million in value; 5. No more than 2 separate projects applications can be submitted in each round; 6. The renewal of existing loans is not eligible for LIRS subsidies and neither are

internal loans between funds; 7. LIRS approved loans must have a loan term of 10 years or less and maturity

date is not to exceed 2025; and 8. Administration costs are not to be funded by LIRS approved loan. The LIRS scheme provides a subsidy interest payment from the Division of Local Government to Councils and thereby reduces the interest expense of new (LIRS approved) infrastructure loans. What the funding program does not do is pay $1 of the actual loan principal (therefore not $1 towards the actual cost of the backlog on infrastructure assets being renewed, replaced or provided). Council would still have to fund 100% of the principal amount of a loan for up to a ten year period and the LIRS will only reimburse Council the interest expense that is equal to 3% (noting that the current loan interest rate from a financial institution is equivalent to estimated 6.50%). While the LIRS scheme may be seen as a positive step for local government infrastructure funding projects it certainly does not pay for the asset and Council still needs to be able to afford the entire loan repayments for the life of the asset or at least the period of the loan. There are no new loans identified as infrastructure backlog projects within Council’s Delivery Program and Infrastructure Plan which may inhibit the success of a funding application. In Council’s 2012/2013 Operational Plan there are no new loans projected. The deadline for notification of Council’s intention to apply in the second round of funding closes 31 December 2012. Council senior management recommend that Council do not lodge an application for the second funding round of the LIRS. POLICY IMPACT Nil OPTIONS Nil

Finance and Administration NSW LOCAL INFRASTRUCTURE RENEWAL SCHEME cont’d


FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receive and note the report as information. ATTACHMENTS A. Premier and Cabinet - Circular - 12-37 - Local Infrastructure

Renewal Scheme - Round two Attachment

B. Loan Calculator LIRS 10yrs Attachment

Item: 11.7 Attachment A.: Premier and Cabinet - Circular - 12-37 - Local Infrastructure Renewal Scheme - Round two


Item: 11.7 Attachment B.: Loan Calculator LIRS 10yrs




ITEM 11.8 Financial Sustainability Assessment of Council



ISSUE The Division of Local Government, Circular No. 12/23, advised all NSW Councils that they will be independently reviewed and an assessment made of their financial sustainability. RECOMMENDATION That - 1. Council receive and note the report as information.

BACKGROUND The Local Government Review Panel appointed by the Minister for Local Government in March 2012 has commissioned a Financial Sustainability Assessment of all NSW Councils. REPORT To assist the Local Government Review Panel, the NSW Treasury Corporation (TCorp) has been commissioned to prepare a report for each NSW Council that provides an overview of the following:-

1. The existing financial performance and financial position of the Council;

2. A review of long term and medium term financial forecasts;

3. The future financial sustainability of the Council; and

4. Benchmarking and comparisons with other Councils. The independent assessment report will be prepared by TCorp and will be provided to each Council and also will be considered by the Local Government Review Panel as part of their deliberations. TCorp contacted Upper Lachlan Shire Council on 21 September 2012 to request access to Council financial reports and documentation. A complete list of documentation provided to TCorp is an attachment to this report titled TCorp Financial Assessment, Benchmarking and Sustainability Checklist.

Finance and Administration FINANCIAL SUSTAINABILITY ASSESSMENT OF COUNCIL cont’d


To date, TCorp is still preparing the Financial Sustainability Report and it is anticipated that the report will be completed by 20 December 2012. POLICY IMPACT Nil OPTIONS Nil FINANCIAL IMPACT OF RECOMMENDATIONS Nil RECOMMENDATION That - 1. Council receive and note the report as information. ATTACHMENTS A. Premier and Cabinet - Circular 12-23 - TCorp Assessment of

Financial Sustainability Attachment

B. NSW Treasury Corporation - TCorp Financial Assessment, Benchmarking and Sustainability Checklist

Attachment

Item: 11.8 Attachment A.: Premier and Cabinet - Circular 12-23 - TCorp Assessment of Financial Sustainability


Item: 11.8 Attachment B.: NSW Treasury Corporation - TCorp Financial Assessment, Benchmarking and Sustainability Checklist


11 FINANCE AND ADMINISTRATION - Upper Lachlan Shire · 11.4 Library 1st Quarter Report 2012 - 2013...

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