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Consultation has concluded
At the Ordinary Council Meeting held on 23 June 2021, Council resolved to place the Financial Reserves Policy on public exhibition commencing Thursday 24 June 2021 and ending on Thursday 22 July 2021.
The purpose of the Financial Reserves Policy is to:
define Council’s restricted cash reserves;
establish a policy position for unrestricted cash; and
set out the requirements that must be met for any new reserves to be established.
The Financial Reserves Policy is a requirement of the Performance Improvement Order issued 9 December 2020, which states the following:
6. Council must implement the recommendations made in the report of the review of Council finances
The key requirement from the Review of Council Finances was to:
Adopt a Reserves policy that ensures a minimum of $4-5m is available as unrestricted cash to fund working capital requirements before setting aside funds as Internal Restrictions The draft Financial Reserves Policy complies with this requirement. It also establishes a framework for the responsible management of existing and new reserves that will assist in implementation of appropriate budgetary controls and manage cashflow risks.
Send in a submission:
Submissions are invited and must be addressed to the General Manager, Armidale Regional Council, PO Box 75A, Armidale NSW 2350 or sent by email to council@armidale.nsw.gov.au
Submissions must be received by Council no later than 10pm on Thursday 22 July 2021.
Please be aware that if you make a submission, other people may have access to your comments. This may be as a result of a report to a Council meeting or as part of an application under the Government Information (Public Access) Act 2009. Also, under State legislation, any person making a submission on a Draft LEP amendment must also disclose whether they or an ‘associate’ have made a ‘reportable political donation’ or gift to a local Councillor or Council employee within the period commencing two years before any submission is made and ending when the Draft LEP is determined. Further details including disclosure forms are available on request from Council.
At the Ordinary Council Meeting held on 23 June 2021, Council resolved to place the Financial Reserves Policy on public exhibition commencing Thursday 24 June 2021 and ending on Thursday 22 July 2021.
The purpose of the Financial Reserves Policy is to:
define Council’s restricted cash reserves;
establish a policy position for unrestricted cash; and
set out the requirements that must be met for any new reserves to be established.
The Financial Reserves Policy is a requirement of the Performance Improvement Order issued 9 December 2020, which states the following:
6. Council must implement the recommendations made in the report of the review of Council finances
The key requirement from the Review of Council Finances was to:
Adopt a Reserves policy that ensures a minimum of $4-5m is available as unrestricted cash to fund working capital requirements before setting aside funds as Internal Restrictions The draft Financial Reserves Policy complies with this requirement. It also establishes a framework for the responsible management of existing and new reserves that will assist in implementation of appropriate budgetary controls and manage cashflow risks.
Send in a submission:
Submissions are invited and must be addressed to the General Manager, Armidale Regional Council, PO Box 75A, Armidale NSW 2350 or sent by email to council@armidale.nsw.gov.au
Submissions must be received by Council no later than 10pm on Thursday 22 July 2021.
Please be aware that if you make a submission, other people may have access to your comments. This may be as a result of a report to a Council meeting or as part of an application under the Government Information (Public Access) Act 2009. Also, under State legislation, any person making a submission on a Draft LEP amendment must also disclose whether they or an ‘associate’ have made a ‘reportable political donation’ or gift to a local Councillor or Council employee within the period commencing two years before any submission is made and ending when the Draft LEP is determined. Further details including disclosure forms are available on request from Council.
