Part 6
Planning, decision-making, and accountability
Financial management
100Balanced budget requirement
A local authority must ensure that each year's projected operating revenues are set at a level sufficient to meet that year's projected operating expenses.
Despite subsection (1), a local authority may set projected operating revenues at a different level from that required by that subsection if the local authority resolves that it is financially prudent to do so, having regard to—
- the estimated expenses of achieving and maintaining the
predicted levels of service provision set out in the
long-term
plan, including the estimated expenses associated with maintaining the service capacity and integrity of assets throughout their useful life; and - the projected revenue available to fund the estimated
expenses associated with maintaining the service capacity
and integrity of assets throughout their useful life;
and
- the equitable allocation of responsibility for funding
the provision and maintenance of assets and facilities
throughout their useful life; and
- the funding and financial policies adopted under
section 102.
Notes
- Section 100(2)(a): amended, on , by section 49 of the Local Government Act 2002 Amendment Act 2010 (2010 No 124).