Council meeting 24 Aug 2011 - WorkBoot dig #1

Motion Date: 2011-08-12
Issue: Financial accountability
Motion Summary: Establish subcommittee to reduce borrowing requirements
Outcome: Lost

Motion

That Council immediately and with urgency establish a subcommittee to review the  2011-2012 Annual Plan with a view to reducing any requirements for further borrowing during the year.

 

 

Reasons

In light of the financial crisis and the prospect of continuing years of little or low growth, the underlying assumptions on borrowings and debt servicing should be immediately revisited by Council.

This review should not wait for appointment of a new CEO or Treasury consultants, as the questions and issues that will come out of such a review can be inputs to both the new CEO's role and the role of Treasury consultants.

Voted For:

• Larsen
• Linton
• Wade

Voted Against:

• Geange
• Sutherland
• McEwing
• Harding
• Blackwell

Abstained:

• Tiller