The financial strategy facilitates prudent financial management by providing a guide to consider proposals for funding and expenditure against and to provide context for the overall effects of proposals on Councils services, rates, debt, and investments.

This policy explains the conditions and criteria under which the Council might consider it appropriate to assist the ratepayer by providing rates relief.

Council previously consulted on a proposal to include a Community Housing development contributions remission. As Council now proposes to instead include a community housing remission, this triggers the need to consult on the Rates Remission and Postponement Policy in conjunction with the LTP.

States Council’s policies in respect of borrowing and other liabilities.

This policy sets out how Council will fund operating expenses and capital expenditure from the available sources of funding.

Proposed changes to funding splits are detailed as a consultation issue in the consultation document (Attachment 1). As these changes affect the Revenue and Financing Policy, Council will need to consult on this policy in conjunction with the draft LTP.

States Council’s policies in respect of investments.

The Policy was amended in 2023 to allow Council to acquire properties for investment purposes.

Explains how rates are structured and how rates are allocated over the properties in the District.

These statements show the sources of funding to be used, the amount of funds expected to be produced from each source and how the funds are to be applied.

The funding impact statements for each activity are incorporated into the Activity Statements within the LTP. The LTP also contains Funding Impact Statements for the whole of Council.

Sets out the assumptions that have been used to prepare the financial statements.

This policy outlines Council’s approach to funding development via development contributions under the Local Government Act 2002 and financial contributions under the Resource Management Act 1991.

The Schedule of Assets Funded by Development Contributions sets out the growth projects scheduled over a 20-year period and how development contributions will be calculated for developments to fund this new infrastructure.