Discretionary funds or restricted assets
LONG TERM FINANCIAL PLAN 2022 - 2031
There are two types of reserve funds. A discretionary cash fund represents monies held in a reserve that can in reality be used for any purpose Council desires, irrespective of the reserve title. A restricted asset is a reserve that is comprised of funds, which Council is legally obliged to apply to a certain purpose. The following table summarises the nature of each reserve. Reserve
Nature
Statutory?
Open space – planning, development and improvements
Restricted asset
Yes
Open space – acquisitions
Restricted asset
Yes
Development Contribution Plans (Council funded)
Restricted asset
No
Native revegetation reserves
Restricted asset
No
Keysborough maintenance levy
Restricted asset
No
General reserve (aged care)
Restricted asset
No
Future maintenance reserve (LXRA)
Restricted asset
No
Major projects
Discretionary fund
No
Self insurance
Discretionary fund
No
Spring Valley landfill
Discretionary fund
No
Springvale Activity Precinct parking and development
Discretionary fund
No
Dandenong Activity Precinct parking and development
Discretionary fund
No
Strategic Direction Outcomes 1. That Council endorse the continued use of the reserve funds noted in this section.
LONG TERM FINANCIAL PLAN 2022 - 2031 CITY OF GREATER DANDENONG
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