10-34 Capital Expenditure Guielines
The purpose of this circular is to advise councils of the release of the Capital Expenditure Guidelines (the Guidelines). The Guidelines will assist councils in the preparation and review of certain capital expenditure projects. These Guidelines replace Circular to Councils 97-55.
The overriding principles of the Guidelines are accountability and prudent financial management of council resources.
Councils are required to undertake a capital expenditure review for projects that are not exempt and cost in excess of 10% of council’s annual ordinary rates revenue or $1 million (GST exclusive), whichever is the greater. There are additional requirements for non exempt capital projects where the project costs are expected to exceed $10 million (GST exclusive). read more...