Moira Shire Council adopts loan policy

By Lachlan Durling

Jan 5, 2021

Moira Shire Council has adopted a new loan borrowings policy that will guide council on managing current and future borrowing.

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Councillors voted in favour of adopting the policy at the December meeting, updating the 2017 policy.

“As we know we’re in a fairly volatile position, we have been reprimanded by some at different stages, of having money stacked away,” Cr Kevin Bourke said.

“But also on the flipside of that is that we have got some pretty hefty commitments in the foreseeable future.

“There is never a better time (for borrowing) with interest rates the way they are, this is putting the guidelines out there that we do it by the book.”

The Loan Borrowings Policy will ensure council maintains financial sustainability and that its loan portfolio is maintained in terms of its ability to meet future repayments and budgetary constraints.