Local Government Act 2002

102 Funding and financial policies

• (1) A local authority must, in order to provide predictability and certainty about sources and levels of funding, adopt the funding and financial policies described in subsection (4).

  (2) A local authority must, subject to subsection (3), use the special consultative procedure in adopting a policy under this section.

  (3) A policy under this section may be adopted by a local authority as part of its long-term council community plan.

  (4) A local authority must adopt—

  • (a) a revenue and financing policy; and

  • (b) a liability management policy; and

  • (c) an investment policy; and

  • (d) a policy on development contributions or financial contributions; and

  • (e) a policy on partnerships between the local authority and the private sector; and

  • (f) a policy on the remission and postponement of rates on Māori freehold land.

  (5) A local authority may adopt all or any of the following policies:

  • (a) a rates remission policy:

  • (b) a rates postponement policy.

  (6) A policy described in this section may be amended only as an amendment to the long-term council community plan.