Council, 26 June 2015.

Council adopts its Revenue & Financing Policy under section 102 of the Local Government Act 2002.

The purpose of this Policy is to set out how each of Council’s Activities is to be funded – that is, who pays for what, and why. The Policy outlines:

  • Available funding mechanisms (e.g. rates, fees, borrowing, etc.),
  • Council’s funding considerations (i.e. the decision about how each Council Activity is to be funded and the process followed to reach that decision), including
    - funding of operating costs (i.e. the funding mix Council has chosen for each Activity’s operating costs), and
    - funding of capital costs (i.e. the funding mix Council has chosen for each type of capital investment).

Note that the Revenue & Financing Policy simply sets out Council’s decision about how each Activity is to be funded, and the thinking behind that decision. The application of this Policy is set out elsewhere:

  • Rates charges and definitions are set out in the Funding Impact Statement,
  • Fees and charges for all Activities are set out in the Fees & Charges Schedule,
  • Development Contributions are set out in the Development Contributions Policy,
  • Projected dollar revenues and costs for each Activity (and the Council as a whole) are set out in the Funding Impact Statement.

See the Revenue and Financing Policy from the 2015-25 Long Term Plan for full details.