Strategic & Corporate Committee - 6 October 2026

Topics

• Woollahra committee proposes closing 18 reserves and creating a $10 million working-capital fund
  Council’s committee has recommended a substantial restructure of internal reserves, including a new $10 million restricted working-capital reserve.
  The proposal would change how Council holds and authorises the use of internal funds, with closures recommended from 31 October 2026.
• Woollahra financial and borrowing policies head to Council after public exhibition
  Four public submissions were received before the committee recommended adoption of new Financial Sustainability and Borrowing policies.
  The policies will shape Council’s long-term financial management and borrowing decisions if formally adopted.
• Woollahra heritage grants program proposed for 2027 policy review
  A dedicated heritage grants stream has been recommended for consideration, but applicants will need to wait for a future policy decision.
  The proposal could create future financial support for heritage-related projects, while the amendment seeking an explicit public-benefit test was defeated.

Decisions

• Woollahra Libraries annual report received
  The committee received and noted the Woollahra Libraries Annual Report for 1 July 2025 to 30 June 2026 and the Public Library Evaluation Network annual survey outcomes. It also congratulated Council staff on the library services, programs and events delivered during the year.
  Provides a formal update on local library services and programming, although no service changes or new funding were resolved.
• Financial Sustainability Policy and Borrowing Policy recommended for adoption
  The committee noted four public submissions received during exhibition from 14 August to 13 September 2026 and recommended that Council adopt the Financial Sustainability Policy and Borrowing Policy.
  The policies will guide Council’s financial management and future borrowing, subject to formal Council adoption.
• Internal reserves restructuring recommended
  The committee recommended closing 18 named internal reserves from 31 October 2026 and transferring remaining balances to unrestricted cash. It also recommended establishing a $10 million General Working Capital Reserve, with use restricted to expenditure authorised through the adopted budget, a Quarterly Budget Review or a separate Council resolution, and adopting a revised Restricted Funds Policy.
  This changes how Council holds and controls internal funds. The $10 million working-capital reserve is intended for authorised budgeted expenditure and is not an unrestricted spending pool.
• Future Woollahra Heritage Grants Scheme recommended
  The committee recommended considering a dedicated Heritage Grants funding stream in the next Grants Policy update, due in December 2027. Staff would prepare draft guidelines, eligibility criteria, funding arrangements and assessment procedures, while Council would pursue external grant funding. An amendment seeking reference to public benefit in the criteria was lost.
  A future grant program could assist eligible heritage-related projects, but no funding scheme has yet been adopted and consideration is scheduled for 2027.

Discussion

• Internal reserve closures and $10 million working-capital reserve
  The committee recommended consolidating 18 internal reserves, transferring remaining balances to unrestricted cash and creating a new restricted General Working Capital Reserve of $10 million.
  Residents may be interested in increased visibility of Council’s reserve balances and the rules governing future use of these funds.
• Financial and borrowing policy changes
  Following public exhibition and four submissions, the committee recommended adoption of revised Financial Sustainability and Borrowing policies.
  These policies may influence Council’s long-term financial resilience and borrowing decisions.
• Potential heritage grants program
  A dedicated Heritage Grants funding stream was recommended for consideration in the December 2027 Grants Policy review, with staff to develop proposed rules and seek external funding.
  Owners, community groups and organisations involved in heritage conservation may eventually have access to a new funding stream, subject to future decisions.
• Library service reporting
  The committee received the annual Woollahra Libraries report and associated public library survey outcomes for 2025–26.
  The report records the performance and activities of local library services over the past year.

Impacts

• No immediate rates, fees, levies or service charges were adopted at this meeting.
• Council recommended closing 18 internal reserves from 31 October 2026 and creating a $10 million restricted General Working Capital Reserve.
• The Financial Sustainability Policy and Borrowing Policy were recommended for adoption after public exhibition; these recommendations still require Council consideration.
• A heritage grants program remains a future proposal, with policy consideration scheduled for December 2027.

Places

• Woollahra (local government area)
  Council, library services, financial policies and potential heritage grants apply across the Woollahra local government area.
• Double Bay (suburb and facility location)
  The Strategic & Corporate Committee meeting was held at the Council Chambers, 536 New South Head Road, Double Bay.
• Woollahra Libraries (library service)
  The annual report covered library services, programs and events delivered from 1 July 2025 to 30 June 2026.

Next

• Council to consider the recommended Financial Sustainability Policy and Borrowing Policy.
  After the 6 October 2026 committee meeting; no Council decision date is stated.
• Close the 18 listed internal reserves, transfer remaining balances and establish the General Working Capital Reserve if the recommendation is adopted.
  Recommended effective date for reserve closures: 31 October 2026.
• Chief Financial Officer to make accounting adjustments implementing the reserve decision if approved.
  Following adoption of the recommendation.
• Staff to prepare draft Heritage Grants guidelines, eligibility criteria, funding arrangements and assessment procedures.
  To inform the December 2027 Grants Policy update.
• Council staff to pursue external funding opportunities for any future heritage grants stream.
  Before or during development of the 2027 policy update.

Extract

Strategic & Corporate Committee Tuesday, 6 October 2026 6:30 PM Minutes Unconfirmed Woollahra Municipal Council Strategic & Corporate Committee 6 October 2026 Strategic & Corporate Committee Meeting Minutes of the Meeting of Strategic & Corporate Committee held at the Council Chambers, 536 New South Head Road, Double Bay, on 6 October 2026 at 6:30 PM. Present:Deputy Mayor, Councillor Hugh Woodgate Councillors:Alexander Andruska (Via zoom) James Ardouin Mary-Lou Jarvis Jeanette Mitchell Julian Parmegiani Harriet Price Lucinda Regan Mark Silcocks Torsten Staff:Craig Swift-McNair - General Manager Jennifer Chenhall - Manager, Governance & Risk Fiona Calverley - Governance & Meeting Officer Jam...