Submissions on the amendment to the Treasury Management Policy contained in the Long Term Council Community Plan 2009-19 closed on 5 August and a total of three submission were received. Hearings were held at a council meeting on the 30th of August and the proposed amendment was adopted following deliberations.
The amendment enables Council to participate in the New Zealand Local Government Funding Agency Limited (LGFA).
The LGFA is a company being set up by a group of local authorities and the Crown. It will enable local authorities to borrow at lower interest margins than would otherwise be available.
The amendment allows Waipa District Council can become a shareholder in the LGFA. This will help to support the establishment of the LGFA as well as provide Council with an alternative source to raise loans in the future.
Treasury Management Policy
Audit Statement