Councils that found themselves with the requirement for significant levels of debt in the 1980s and early 1990’s when interest rates were at historic highs, felt under pressure to minimise borrowings. The legacy of those times has been a factor in councils being averse to borrowing, even when interest rates are at historic lows. Yet the effective use of debt has meant that communities have been able to enjoy a wide range of services, from improved transport networks to CWMS schemes to recreational facilities, which have been paid for over time through structured borrowings, prudent rate increases and reasonable user charges.
The South Australian Local Government sector as a whole has very low levels of debt relative to their income and assets they are responsible for. If the sector’s debt was represented by an individual’s debt on their home loan, it would equate to something like $15,000 worth of debt on a $500,000 property. The LGFA applies stringent credit criteria to assess the ability of a council to meet its repayment requirements for any borrowings. Recently, applying those criteria on a state-wide basis, the LGFA calculated that the sector could comfortably borrow an extra 2 or 3 times current debt levels to provide further benefits for local communities.
This paper has been written by the LGFA to give a better understanding about the responsible use of debt by the South Australian Local Government sector.
The paper has been prepared for mayors, chairs, councillors and council management teams and sets out to answer some of the questions commonly asked by councils during our visitation program.
Debt is a renewable resource and is an effective financial tool that can be utilised by councils, when required.
Councils should not be afraid of debt, they should embrace its’ responsible use.
Use of Debt
Councils are infrastructure intensive organisations. For some councils the issues are largely the renewal of existing infrastructure; for some councils the issues are largely the provision of infrastructure to meet the demands of a growing population and for other councils the issues are largely the need to improve and upgrade infrastructure that does not meet the needs of a modern community. South Australian councils prepare long-term financial and asset management plans. These plans indicate to councils their need for funds to acquire, upgrade and renew their infrastructure. The prudent use of debt can allow councils to bring forward their plans to acquire, upgrade and renew their infrastructure and provide their communities with the services in an equitable manner.
Debt should be a key element in a council’s long-term financial plan as its correct use helps with the acquisition of planned infrastructure and the renewal of existing infrastructure as it supports intergenerational rating equity. This ensures that ratepayers in the future, who will benefit from a council’s infrastructure, effectively contribute to its provision or replacement rather than this burden falling just on ratepayers at the time of acquisition or replacement. To ‘save’ for infrastructure means that ratepayers who receive no benefit from the infrastructure are effectively ‘paying’ for it. One of the benefits of using debt financing is that interest costs and any principal repayments on borrowings are spread, to some extent, over the life of the asset and paid for by ratepayers who benefit from the services provided by the infrastructure.
The term ‘intergenerational equity’ often arises in a discussion about local government financial performance and financial sustainability. It is important to bear in mind in such discussions that local government service provision is very asset intensive. Many local government services involve the provision of assets (e.g. roads) that provide benefits to communities over a long period of time.
Intergenerational equity in a local government context is often considered in the context of whether payment for the cost of services is recovered over time broadly in accordance with the benefits enjoyed by service recipients. In the case of the road example above it wouldn’t be intergenerationally equitable if it was paid for by ratepayers over a short-term (e.g. by funds from ratepayers in one year) yet benefitted ratepayers over many years (the ratepayers over time will change and are not the same as the ratepayers when the road was built – even if they don’t change it may be difficult or unfair to expect a person to pay ‘up front’ for services they will benefit from over many years).
Of course, an assessment of whether council rating and service provision policies are intergenerationally equitable can’t be determined by looking at a single asset. Councils have many assets built at different points in time. The best assessment of whether a council’s rating and charging decisions are intergenerationally equitable relative to service provision is by comparing underlying ongoing operating revenue with underlying ongoing operating expenses. Operating expenses include depreciation which simplistically results in the capital cost of an asset being recognised progressively over its useful life. If an organisation maintains a breakeven/small surplus operating result it is likely to be operating on an intergenerationally equitable basis. Large operating surpluses or deficits over several ongoing years imply a council is not operating on an intergenerationally equitable basis.
Council Debt versus Individuals Debt:
Councils have a significant advantage over individuals and private corporations in both access to debt and in servicing the debt. Councils taxing powers to raise rates provide them with a high level of certainty in their incomes. The fact that the LGFA secures loans over the general revenue of councils indicates the importance of that power to tax. Another important advantage is that a council is considered to have an unlimited life as an organisation; it will remain an ‘on-going’ entity.
Interestingly, there are very few business corporations in existence that have no or low debt policies. Well managed corporations will be continually scanning the environment in which they operate and their growth or expansion plans will include the use of profits, debt and equity as funding mechanisms. Although councils are corporations in their own right, with many in the state actually being very large corporations, they do not have the same flexibility in the way they finance their operations. Instead they must finance their infrastructure plans and requirements from rate income, government grants, their own cash resources and via the prudent use of debt. Just like corporations sometimes need to borrow to undertake investments so do councils. Borrowing for either cashflow or specific infrastructure projects is a normal operating activity and the local government sector should develop the same attitude.
Long-Term Infrastructure and Long-Term Debt:
Councils are encouraged to have treasury management policies and to consider borrowings as an organisational response to the need for funds for capital projects or cashflow, without specifically borrowing for a particular project. The term of any borrowings, whether fixed interest or whether floating interest rate borrowings are sought should be determined under the Councils’ Treasury Management policy.
(LGA Financial Sustainability Information Paper No. 15 includes an illustrative model treasury management policy.)
Interest Rate Risk:
Interest rate risk is the potential loss in an investment or borrowing decision resulting from movements in interest rates. For example, investing surplus funds at a fixed interest rate when the next movement in interest rates is up or borrowing at a fixed interest rate when the next movement in interest rates is down.
It is not possible to avoid interest rate risk. Trying to anticipate interest rate movements is purely speculative and should not be practised by councils. The best that can be done is to pursue an investment or borrowing policy that attempts to minimise the adverse effect of movements in interest rates. If looking primarily at the interest rate risk associated with a council borrowing funds, interest rate risk can be managed by having a balanced portfolio of fixed and variable interest rate debt so that the adverse impact of movements in interest rates are minimised and that in the medium to long-term a Council’s interest rate expense risk exposure is optimised.
Over the past 50 years, the Reserve Banks of Australia has only moved interest rates higher in periods of high inflation. Because increases to council rate revenue are usually linked to inflation, rate revenue should increase during times of high interest rates, which should offset the higher interest costs associated with floating rate debt. Despite this inherent risk mitigation councils would be adversely affected by large unexpected interest rate rises that occur within a year.
Financial viability of a Council:
Elected bodies around the state are usually concerned about fostering strong communities and maintaining/providing the appropriate infrastructure in a financially responsible way. However, what constitutes a strong viable council can often be misunderstood.
Debt levels and net financial liabilities ratio:
As described in this document there are many reasons why a Council will use debt, so looking at a Council’s level of debt in isolation is a poor way to judge its overall financial performance and long-term viability.
Newly elected members often grapple with the large dollar figures of debt that a council may have but they should remember that even though an average sized Council may have around $10 million dollars of debt they also have total assets of around $360 million.
When people in the sector talk about debt they usual consider a council’s net debt as a percentage of a year’s operating income. The resulting ratio is the net financial liabilities ratio which equals total liabilities (including debt & other commitments) less financial assets (deposits and investments) divided by the operating income for the year.
The LGA recommends that net financial liabilities ratio is between zero and 100% of total operating income, but possibly higher in some circumstances.
There is no right or wrong target range for the net financial liabilities ratio. Different councils (or the same council at different points of time in its long-term financial plan) could appropriately have very different target ranges and each could be equally responsible and financially sustainable, depending upon their circumstances.
An operating surplus (or deficit) arises when operating income exceeds (or is less than) operating expenses for a period (usually a year). Just like any household or other organisation, a council’s long-term financial sustainability is dependent upon ensuring that, on average over time, its expenses are less than associated income. In essence, this means that current day citizens fully meet the cost of services provided for them by their council in most circumstances.
If a council was operating with a significant deficit over several years and its strategic management and long-term financial plans did not provide clear proposals for this to be turned around then it would be inevitable that the council would face major financial shocks in the future. The council effectively would be in the same position as an individual or family living beyond their means. Sooner or later they would be caught by the consequences. For a council, the problem would likely come to a head when existing major assets failed. The council would then need to choose between large rate rises or not replacing assets thereby effectively lowering its standards of service to its community.
Focusing on a council’s underlying operating result, over a number of years, is the best way to judge its financial performance as the operating result reflects the council’s cost of service provision including the cost of maintaining existing assets, as the result allows for asset depreciation.
Comrie, J., (2014), Debt is Not a Dirty Word: Role and Use of Debt In Local Government, UTS Sydney
Hope, D., (2002), Debt – A Renewable Resource, Unpublished
LGA-SA, (2015), Financial Sustainability Information Paper No 15 – Treasury Management, LGA-SA, Adelaide
LGA-SA, (2015), Financial Sustainability Information Paper No 10 – Debt, LGA-SA, Adelaide
If you require anymore information, please do not hesitate to contact us via email@example.com
Regardless of your financial circumstances, life stage or goals for the future, just a few small changes to your finances today can dramatically change what your retirement may look like in the years ahead. We asked Statewide Super Financial Planner Kate Dundon, to share her top three tips that you can implement today, to prepare for a better future.
These few tips are just the start of your path to a better future. For tailored, personalised advice on how you can grow your wealth and prepare for retirement, why not speak to a Statewide Super Financial Planner today? They are dedicated to helping you achieve your financial goals and will provide you with guidance based on your exact circumstances. Click here to make an appointment.
Statewide Superannuation Pty Ltd ABN 62 008 099 223 (AFSL 243171) Trustee and RSE Licensee of Statewide Superannuation Trust ABN 54 145 196 298 (“Statewide Super”). In deciding whether to acquire, or continue to hold, a Statewide Super product, please consider the applicable Product Disclosure Statement (PDS) available at statewide.com.au or by calling 1300 65 18 65. Article issued on 14.02.19.
The information provided contains general advice which does not take into account your specific objectives, financial situation or needs. Before investing, you should consider the appropriateness of this general advice with regard to your personal circumstances. You may also wish to obtain independent financial advice.
Statewide Super holds an Australian Financial Services Licence (AFSL) that allows it to provide general and personal financial advice. Statewide Super Financial Planners are employees and Authorised Representatives of Statewide Super, who is responsible for any advice given to you by them. Statewide Super also has an accredited network of financial advisers (“Accredited Advisers”) based locally and regionally. Advice provided to you by these Accredited Advisers will be provided under the AFSL held by a third party. That third party is responsible for the financial advice given to you by an Accredited Adviser.For further information and a copy of the applicable Statewide Super Financial Services Guide (FSG), visit www.statewide.com.au or call 1300 65 18 65. A copy of the relevant FSG for an Accredited Adviser can be obtained by contacting the Accredited Adviser directly.
A Victoria local government council has been found by the Commonwealth Fair Work Commission to be a ‘constitutional corporation’ for the purposes of the (Federal) Fair Work Act 2009 (Cth) (FW Act). That status exposed it to a federal bullying claim.
No South Australian Local Government Council is a ‘national system employer’ pursuant to the FW Act. That status insulates South Australian Councils in many helpful ways. For example, the federal unfair dismissal jurisdiction and the National Employment Standards do not apply.
However, whether South Australian Councils are ‘constitutional corporations’ for FW Act purposes, remains a critical legal issue, possibly exposing South Australian Councils to potential litigation and disputes under the FW Act.
There is no ‘one size fits all test’ to determine whether your council is a constitutional corporation, however, an analysis of the councils trading activities must be taken into account.
In the recent case of Matina Bastakos  FWC 7650, the City of Port Phillip has been found by the Commonwealth Fair Work Commission (Commission) to be a ‘constitutional corporation’ for the purposes of the (Federal) Fair Work Act 2009 (Cth) (FW Act). That status exposed it to a federal bullying claim.
The FW Act exposes employers which are ‘constitutional corporations’ to further employment obligations and further risks of litigation.
No South Australian Local Government Council is a ‘national system employer’ per the FW Act. That status insulates South Australian Councils in many helpful ways. For example, the federal unfair dismissal jurisdiction and the National Employment Standards do not apply to South Australian Councils.
However, whether South Australian Councils are ‘constitutional corporations’ for FW Act purposes, remains a critical legal issue, possibly exposing South Australian Councils to potential litigation and disputes under the FW Act. For example, FW Act bullying claims and General Protections applications.
Notwithstanding that, a ‘constitutional corporation’ includes:
The general rule is that trading activities are akin to normal for-profit commercial activities. For example, trading activities could include: car parks, golf courses, swimming pools, cafes, leasing Council buildings, rental activities, use of parklands for commercial reward, childcare centres, aged care facilities and even festivals, just to name a few.
If such trading activities are ‘substantial’, a Council risks being deemed a constitutional corporation. If so, the above areas of the FW Act would apply to the Council. These risks are therefore significant regarding strategic planning for all Council stakeholders.
There is no single ‘one size fits all’ test of this constitutional corporation status. In the City of Port Philip case, 25% income derivation from trading activities was enough for the Commission to deem it a constitutional corporation, and thus prone to those liabilities and litigation.
However, in the matter of Mr Martin Cooper  FWC 5974, which involved two applications for an order to stop bullying, the employer, the City of Burnside, was found not to be a constitutional corporation for the purposes of the FW Act. Although the City of Burnside no doubt engaged in trading activities, the Commission deemed them to be peripheral, rather than substantial or sufficiently significant.
Councils can consider their respective position with regards to their trading activities. We are able to assist you in considering your position and have a list of council activities that are considered trading activities for the purposes of the activities test, to assist you in this process.
Please contact Sathish Dasan on +61 8 8210 1253 or by email on firstname.lastname@example.org to discuss the matter
In today’s world, many people are searching for higher meaning in their lives and this is transforming the workplace and the marketplace.
As a result, customer purchase decisions are often influenced by value-based motivations. Organisations that hold similar ethical beliefs and practices are attracting an engaged and loyal target market.
It has long been recognised that Corporate Social Responsibility (CSR) is not solely focussed on an innate desire to make the world a better place, but it can be a source of long-term competitive advantage for your brand.
As a proud South Australian industry super fund, Statewide Super is committed to making a real difference in the world, to our communities, to our environment, to our employees and most importantly, to our members.
We live our values and support SA in a number of ways. We hope that our actions below can inspire your organisation to also make a difference and strive to create a better world for your customers and your community. We do it by:
This is just a snapshot of the CSR work that we are doing in our community. The activities that your organisation may implement in this space will be different and aligned to your corporate identity. However, if you’re not sure where to start, here are a few tips that may kick start your CSR activity:
Statewide Superannuation Pty Ltd ABN 62 008 099 223 (AFSL 243171) is the Trustee and RSE Licensee of Statewide Superannuation Trust ABN 54 145 196 298. In deciding whether to acquire, or continue to hold, a Statewide Super product, please consider the applicable Product Disclosure Statement (PDS) available at statewide.com.au or by calling 1300 65 18 65. Issued in April 2018.
Debbie Sterrey, General Manager, Business Development, Statewide Super
Corporate Partner of LG Professionals, SA
What services do Statewide Super offer to clients?
Statewide Super prides itself on being an award-winning South Australian super fund who have been safeguarding our members’ wealth for over 30 years.
Managing more than $8 billion in funds under management, our investment returns have been one of the best in Australia according to independent rating agency SuperRatings, outperforming other retail and industry super funds across the country.
With award-winning super and pension products, expert financial advice for all stages of life, value additions including seminars, our online learning hub and a range of articles and videos – we pride ourselves on being your super team, here to build your wealth for retirement.
What is your role at Statewide Super and what does it involve? Where were you prior to Statewide Super?
As General Manager for Business Development, my focus is growing Statewide Super’s employer partnerships, leveraging new business opportunities while ensuring our employers have the best possible experience.
As a member of the leadership team at Statewide Super, my role is to ensure implementation and achievement of our overall strategic plan, with the goal of doing more for our members and continuing to be the leading South Australian industry fund.
Before joining Statewide, I was Adelaide Bank’s National Sales Manager for the Wealth Management Division and prior to this I held the role of SA/NT Regional Manager for ING from 2001-2007. Earlier in my career I held various senior positions at ANZ Bank which included providing advice to clients as one of their leading Certified Financial Planners.
You have received several awards throughout your career for recognition of customer service, professionalism and leadership. Can you tell us more about these? Why is leadership important?
As a Certified Financial Planner (CFP) at ANZ I received the 'Peter Wilson Award' for SA/NT (outstanding achievement of results, customer service and overall professionalism) for 3 years running. I also received the District Managers Award for SA/NT 2 years in a row with the assessment criteria including professionalism, sales results and displaying strong values including ‘leading by example’.
I believe that using the right type of leadership is essential for every organisation and more importantly adaptive leadership. This is critical to any organisation, community and society overall to thrive in a changing world. Adaptive leadership is a practical leadership framework that helps individuals and organisations adapt and thrive in challenging environments and make progress on daunting or complex challenges.
If you had one piece of advice, what would it be?
My one piece of advice is focused around how to maximise you career opportunities. Always be passionate about the industry you wish to work in and believe in its purpose. Your genuine enthusiasm will always show through.
In relation to the financial services industry, in which I work in, it is very broad with regards to opportunities. My advice is to work hard, demonstrate your commitment to both the business and the customers and undertake required studies. This will form the basis for your progression and career trajectory.
What is an interesting fact about you that not many people know?
From a young age I had a passion for tennis and since then it has always been a large part of my life.
My parents enrolled me in professional coaching at the age of 8, which over the years that followed, it not only taught me the skills of the game but also what it took to play at the elite level.
My ability saw me undertake extensive travel along with moving up the State rankings which I am proud to have achieved a State Ranking of 2 at the age of 13.
How do you spend your leisure time outside of work?
Spending time with family is my number one priority, especially in relation to my husband and 9 year old daughter. We share the love of travel which has seen us visit great destinations and experience things that I would never have imagined.
I also enjoy keeping fit, renovating our home, spending time with friends and I am excited this year to be dedicating time to community work as a participant in the Governor’s Leadership Program (GLF).
Local Government Risk Services (LGRS) was established to manage and service the insurance and risk management needs of Local Government in South Australia.
We chat with Robyn Daly, Scheme Manager, Local Government Association Mutual Liability Scheme.
Hi Robyn - thanks for taking the time to speak with LG Professionals, SA.
Tell us about LGRS - where does it operate? What's its ‘reason for being’?
The LGRS brand represents Local Government Risk Services. LGRS is the South Australian public sector division of JLT (Jardine Lloyd Thompson). Nationally JLT‘s core public sector business is focussed on partnering with local government – providing membership, risk based services and ‘insurance’ options to over 95% of all councils in Australia.
How does it benefit (SA) councils?
Apart from the obvious value as the recognised specialised provider of insurance services to local government, LGRS provides to local government in South Australia, councils benefit from the establishment of the unique risk indemnity schemes, being the LGA Workers Compensation Scheme, LGA Mutual Liability Scheme and LGA Asset Mutual Fund.
Established via the Local Government Act 1999, the LGA in partnership with LGRS continue to deliver ultimate protection, consistency of risk, claim services and value-add incentives via the schemes in relation to workers compensation, public liability and asset (including motor vehicles/machinery) management. Reflecting the application of good risk mitigation strategies.
Councils as members of the schemes are able to participate in financial rewards, via bonuses, rebates and special distributions. Councils are encouraged to re-invest these financial incentives into specific risk mitigation incentives/projects, designed to assist and support councils to reduce/mitigate identified risk trends.
How do you encourage council officers to take time out of their busy day to day schedules to consider risks and plan their organisational or departmental risk management strategies effectively?
Council officers do not need to be encouraged to ‘take time out’ to consider risks and plans. Via ongoing (100%) sector participation in the membership scheme concept, risk management is an embedded culture within each council business structure, supported by the requirements in the Local Government Act that all councils must have strategic plans that are implemented, measured and monitored. Managing and mitigating risk is an essential day to day function of a council.
How can LGRS help with this?
In South Australia, LGRS continues to operate in partnership with the LGA, the sector and each council to support the evolution of the sector’s risk profile. This is done by the consistent delivery of risk management and claim services recognising that each council has its own risk profile that can only mature successfully at its own rate. LGRS as scheme manager, reports regularly to each scheme board which has the delegated authority of the LGA to oversee the successful delivery of the schemes’ objectives to the sector.
The ongoing financial success of the schemes ensures that the boards are in a position to direct financial support and assistance to the areas of ultimate cover, claims and risk management, as identified and recommended by the LGRS, as the scheme manager. This can only be achieved by LGRS ensuring 100% council participation.
What would you like to see in the future in terms of (SA) councils and their approach to risk management?
Recognition and ongoing commitment to the application of effective risk management so it reflects in the culture of each council’s core business.
This objective will be achieved by the continuation of 100% council participation in the schemes – which continue to be successfully delivered by LGRS in partnership with the LGA.
Partnering is the key to achieving success and one of the best examples of this is the partnership between LG Professionals, SA and LGRS.
With an equal passion and unbounded enthusiasm for local government, our partnership will continue to deliver tailored services locally and nationally across the sector.
We know super isn’t always on your mind – in fact, super is probably something you may rarely think about. But read on. We have 3 simple super tips that can make all the difference to your future.
Tip 1: Knowledge is key
Making informed decisions about your money is one of the most important things you can do. We all have different personal skills, attitudes, behaviours and knowledge in relation to money. But spending just a few minutes a day can make all the difference to your financial independence now and in the years ahead.
So what can you do to kick start your financial freedom?
Statewide Super is committed to increasing financial literacy and we do this by offering a variety of fun and interactive tools to help you on this journey. Check out our complementary learning resources today!
Tips on Money Management platform
15 short interactive modules on a variety of topics including superannuation, debt, managing your money, retirement and investing.
Your Super Life blog
A range of educational articles and videos on a variety of lifestyle, wellbeing and financial topics to inspire you to lead a super life.
Tip 2: Take three minutes to find and consolidate your super into one account
Did you know there is over $16 billion** in lost super in Australia? So when you think back to all the old jobs you have had and all the super fund accounts you may have started and forgotten about – you’re not alone. Millions of Australians have done the same thing. But that lost money is still rightfully yours and you can find it in minutes – just by calling Statewide Super.
Not only can Statewide Super find your lost super, but we can also find all your super accounts and consolidate them together, quickly and easily into one fund only. This may be a smart strategy as currently you may be paying fees for each super fund and you probably have numerous statements sent to you each year which are cumbersome to manage. By combining your super together into one account, the power of compound earnings can help to grow your super balance faster!
Your next step…
Call Statewide Super on 1300 65 18 65 and ask to find and consolidate your super over the phone.
Tip 3: Seek financial advice to build your wealth
Regardless of how much or how little money you have, a simple financial ‘health check’ can mean thousands of dollars difference to your super balance. Just one phone call or one session with a financial advisor can change your financial trajectory.
As a Statewide Super member, you have access to the following advice services – so why not take advantage of them to ensure you get the most from your hard-earned money!
Types of advice available to you
1. As a Statewide Super member you can receive advice of a general nature about your super over the phone or in person at our Adelaide office at no additional cost.
2. As a Statewide Super member you can receive advice over the phone or in person to discuss your Statewide Super investment options, insurance cover and super contributions at no additional cost.
3. You can receive a complementary initial consultation with a Statewide Super financial planner* to explore your unique financial situation and objectives. Should you wish to proceed with financial advice, a fee-for-service will be agreed in advance.
But the best part…Statewide Super-related advice can be paid for with the money in your super account so you are not out of pocket. Now that’s convenient!
Want to know why Statewide Super is the best choice for you?
Well, let us be quick….as your local profit-for-members industry super fund, we exist only to benefit you. Our default MySuper investment option returns are the BEST in the country returning 9.26%*** over the three years to 31 January 2017. Recently winning the Workplace Select Choice Product of the Year, our investments, insurance and local service is also rated the BEST in the country by independent rating agency Rainmaker.
Now that’s peace-of-mind.
To learn more:
1300 65 18 65
The information provided is of a general nature. It does not consider your specific needs nor is it intended to be financial product advice. You should obtain independent financial advice and consider the applicable Product Disclosure Statement before making an investment decision.
Statewide Superannuation Pty Ltd ABN 62 008 099 223 (AFSL 243171) Trustee and RSE Licensee of Statewide Superannuation Trust ABN 54 145 196 298
*Financial information and general advice may be provided by representatives of the fund’s Trustee Statewide Superannuation Pty Ltd ABN 62 008 099 223 (AFSL 243171). Any personal advice you receive is provided by Authorised Representatives of Industry Fund Services Limited (IFS) ABN 54 007 016 195, AFSL 232514. IFS is responsible for the advice given to you by its Authorised Representatives and fees apply to any personal advice provided.
**The New Daily, March 2016
Local Community Insurance Services (LCIS) is a division of Jardine Lloyd Thompson Pty Limited.
For 10 years Local Community Insurance Services (LCIS) has worked closely with thousands of community groups and not-for-profits in Australia to manage their specific insurance needs.
LCIS believes communities thrive when people have the confidence to do what they love and live like they should. As a specialist insurance provider they protect the passions of community groups and not-for-profits with sounds advice and a selection of insurance covers to suit most groups.
This year LCIS have launched into 2017 with a new look and website which features:
Last year alone LCIS provided over 10,000 policies to various groups. Their specialised focus on the community sector means they can meet the specific insurance needs of these groups, with the underlying aim to give each group the confidence to live their passions to the fullest.
Their dedicated team pride themselves on getting to know each client to understand the risks associated with their activities and how to best manage these through insurance and risk management advice. They use their industry knowledge and experience to tailor the most suitable insurance solution for each client.
If you have any questions about community insurance contact the LCIS Team on 1300 853 800 or via email@example.com
What is Local Government LIFE App?
McArthur has been developing a mobile app for measuring staff engagement/satisfaction throughout the year (monthly), rather than just on an annual or bi-annual basis. We have decided to launch a Local Government Pilot of our Version 1 product.
How does it work?
The Local Government Finance Authority (LGFA) is an important part of the South Australian local government community. We were established in different economic times; however have remained relevant because we still provide competitive products to our members.
Why deposit your surplus funds with the LGFA?
The LGFA then uses Council Deposits, External Borrowings and LGFA reserves to fund loans to Councils and Prescribed Bodies around our State. Every dollar we source from the sector is a dollar we don’t need to borrow externally.
Loans to Councils:
Because of our mutual nature and support from the State Government, the LGFA are able to charge market leading lending rates to Councils and Prescribed bodies. The following LGFA loan products are innovative and often difficult to obtain from other lenders.
When you use LGFA services you receive:
When you use the LGFA, the local government sector benefits by:
Mailing Address: 5 Hauteville Tce EASTWOOD Phone: 8291-7990 Fax: 8451-1568 E-mail: firstname.lastname@example.org