¶ COLLIE Shire Council endorsed the shire’s loan management strategy through to 2034/35 at its May meeting.
The strategy will be incorporated within the shire’s 2025/26 budget, four-year corporate business plan and 10-year long-term financial plan.
Shire chief executive officer Phil Anastasakis said it provides council an understanding of its level of debt.
“What it’s also designed to do is identify future funding sources for council for capital works,” Mr Anastasakis said.
“One of the fundamental principles around this as well is to understand that the raising of funding for capital works needs to be in a balanced way.
“A good balance of funding for capital works is to look at a combination of reserves, to look at loans and to look at rates.”
This ensures ratepayers of the past, present and future contribute towards building of capital assets, Mr Anastasakis added.
It is projected the shire will have $1,210,174.39 in total existing loans at the end of the 2025/26 financial year.
No new loans have been projected for the next 10 years under the strategy.
However, moving forward, further financial modelling and asset planning will pinpoint new potential loans required to maintain and upgrade existing assets and fund new assets.