Skip to main content
placeholder image

Financial Sustainability and the Imperative for Reform in Investment Organisation in Australia's Local Government

Conference Paper


Abstract


  • The losses reported from the so-called sub-prime category, and the collateral damage suffered by some councils, has brought renewed scrutiny of their financial viability and the investment practices which are employed across the local government sector. The diversity of prudential investment standards which currently apply in Australia also suggests that the investment policies expected to deliver optimal economic outcomes for ratepayers require reform. In conjunction with the moves to address the financial sustainability of the sector, this paper argues that reforms are needed to standardise investment powers, empower councils to develop appropriate investment objectives, and to centralise funds management.

    - 2

Publication Date


  • 2008

Citation


  • Gold, M. L. (2008). Financial Sustainability and the Imperative for Reform in Investment Organisation in Australia''s Local Government. The 6th Symposium on Accountability, Governance & Performance: Meeting Sustainability (p. [25]). Nathan, Queensland: School of Accounting, Finance & Economics, Griffith University.

Ro Metadata Url


  • http://ro.uow.edu.au/gsbpapers/67

Start Page


  • [25]

Place Of Publication


  • http://www.griffith.edu.au/school/gbs/afe/symposium/2008/home.html

Abstract


  • The losses reported from the so-called sub-prime category, and the collateral damage suffered by some councils, has brought renewed scrutiny of their financial viability and the investment practices which are employed across the local government sector. The diversity of prudential investment standards which currently apply in Australia also suggests that the investment policies expected to deliver optimal economic outcomes for ratepayers require reform. In conjunction with the moves to address the financial sustainability of the sector, this paper argues that reforms are needed to standardise investment powers, empower councils to develop appropriate investment objectives, and to centralise funds management.

    - 2

Publication Date


  • 2008

Citation


  • Gold, M. L. (2008). Financial Sustainability and the Imperative for Reform in Investment Organisation in Australia''s Local Government. The 6th Symposium on Accountability, Governance & Performance: Meeting Sustainability (p. [25]). Nathan, Queensland: School of Accounting, Finance & Economics, Griffith University.

Ro Metadata Url


  • http://ro.uow.edu.au/gsbpapers/67

Start Page


  • [25]

Place Of Publication


  • http://www.griffith.edu.au/school/gbs/afe/symposium/2008/home.html