The Andrews Labor Government is helping the ten member councils of Regional Cities Victoria (RCV) work together to reduce costs, meaning more money will be directed back into local communities.
Minister for Regional Development Jaala Pulford today announced $100,000 towards the development of a business case for shared treasury services.
The shared service model will involve RCV cities aggregating funds in order to provide access to wholesale investment markets, which would reduce interest costs for all ten councils.
The savings would allow RCV cities to make further investments in their communities, addressing infrastructure backlogs and developing assets.
The Business Case will articulate the way in which the treasury shared services for local councils would operate, including funding models and management structures.
The Labor Government continues to work with regional and rural local government to find innovative ways to share and reduce annual operational costs.
Quotes attributable to Minister for Regional Development Jaala Pulford
“We’ve listened to Regional Cities Victoria and we’re pleased to support a business case to develop their proposal for a shared treasury services model.”
“The savings achieved from such a model would allow RCV cities to make further investments in their communities, address infrastructure backlogs and develop their assets.”
“Regional Victoria is a driving force behind the state’s economic prosperity, with nearly 10,000 jobs created in regional Victoria in the last three months. Regional cities are central to this strength.”
Reviewed 19 August 2020