Update

Following the Council's resolution at its meeting on 24 July 2023, The Loan Borrowing Policy was placed on public exhibition from 1 August to 29 August 2023. Council received one submission on the draft policy during this period. Council responded to the submission in its report that was tabled at the 18 December 2023 Council meeting addressing all the items raised in the response. This resulted in some minor additions to the definitions section within the policy. The policy was adopted at the Council meeting held on 18 December 2023.

Background

The Georges River Loan Borrowing Policy was first adopted by Council on 17 December 2018. A review of the Policy has been undertaken and identified areas requiring correction, clarification or updating. Council, at its meeting on 24 July 2023, considered a report and resolved to exhibit the Draft Loan Borrowing Policy for a minimum of 28 days.

This policy outlines Council’s borrowing of funds strategy with the aim of minimising overall debt and utilising the funds primarily for projects of capital nature. The core objective of the Loan Borrowing Policy is to ensure the sound management of Council’s existing and future debt, bearing in mind Council’s financial aim to have balanced annual budgets and a considered long term financial plan.Council is currently debt free and there are no proposals to obtain a loan for a particular capital project at the time of the adoption of this policy.

How to be involved

Community feedback is essential in helping guide us in our decision-making process. Your feedback will influence the choices we make when developing our plans and ensure we are on the right path to achieving and managing our community's overall vision. If you would like to provide feedback or comments on the Policy, we encourage you to:

	Complete our online feedback form. Use the links below to submit your online feedback, or
	Return a hard copy submission.

If you are returning a hard copy submission, please quote SF23/4303 Public Submission - Draft Updated Loan Borrowing Policy at the beginning of your submission and return:

	In person to Georges River Council Civic Centre or Libraries
	Via email: mail@georgesriver.nsw.gov.au
	Via post: PO Box 205, Hurstville BC NSW 1481

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