Minutes of Meeting

Extraordinary Finance Advisory Committee Meeting

Venue	Conference Room, Station Street, Mullumbimby
Date	Thursday, 13 April 2017
Time	9.00am

BYRON SHIRE COUNCIL

Extraordinary Finance Advisory Committee Meeting Minutes 13 April 2017

Minutes of the Extraordinary Finance Advisory Committee Meeting held on Thursday, 13 April 2017

File No: I2017/461

PRESENT:   Cr B Cameron, Cr C Coorey, Cr A Hunter, Cr M Lyon, Cr P Spooner

Staff:   Mark Arnold (Acting General Manager)

            Phil Holloway (Director Infrastructure Services)

            James Brickley (Manager Financial Services)

Cr Cameron (Chair) opened the meeting at 9.04am and acknowledged that the meeting was being held on Bundjalung Country.

Apologies:

There was an apology received from Cr Richardson.

Declarations of Interest – Pecuniary and Non-Pecuniary

There were no declarations of interest.

Adoption of Minutes from Previous Meetings

Committee Recommendation:

That the minutes of the Finance Advisory Committee Meeting held on 16 February 2017 be confirmed.                                                                                                                                   (Hunter/Cameron)

Business Arising from Previous Minutes

There was no business arising from previous minutes.

Staff Reports - Corporate and Community Services

Report No. 4.1             Review of Council Investment Policy

File No:                        I2017/341

Committee Recommendation:

That the Finance Advisory Committee receive a further report on the review of the Council’s Investment Policy at its next meeting scheduled for 18 May 2017, with the following amendments to the Draft Policy - Council Investments 2017 to be included:

a) Definition for Social and Environmentally Responsible Investments,

b) Decision making process for the investment of funds with an authorised deposit-taking institution.          (Spooner/Lyon)

Report No. 4.2             Draft 2017/2018 Budget Estimates

File No:                        I2017/344

Committee Recommendation:

That the Finance Advisory Committee recommend to Council the adoption of the Draft 2017/2018 Budget Estimates for the purposes of public exhibition subject to:-

a)      the inclusion of a revised Operating Revenue and Expenditure Budget for the Cavanbah Centre, and

b)      the distribution to Councillors by Memorandum of further information on significant variances to salary and wages budgets.                                                                                                (Cameron/Hunter)

Report No. 4.3             Draft 2017/2018 Revenue Policy

File No:                        I2017/345

Committee Recommendation:

That the Finance Advisory Committee recommend to Council the adoption of the Draft 2017/2018 Revenue Policy for the purposes of public exhibition subject to:-

a)      an amendment to the section on Borrowings to include additional information on the level of existing debt and the impact of debt ratios of the additional borrowings forecast in the Draft Revenue Policy.           (Hunter/Spooner)

There being no further business the meeting concluded at 11.00am.