Rates & spending · Woollahra Municipal Council
Woollahra adopts financial policies after rejecting motion with debt-ratio wording
A motion containing a proposed Debt Service Coverage Ratio definition was defeated 3-8 before councillors adopted the Financial Sustainability Policy and Borrowing Policy as presented.
Reporting from draft minutes. Recorded wording may change when confirmed. How this article was prepared
Woollahra Council has adopted two financial policies after a motion containing proposed wording for its Debt Service Coverage Ratio was defeated 3-8, according to unconfirmed minutes. The decisions concern financial sustainability and borrowing, although the policy item does not announce new borrowing or a new charge on residents.
Four submissions were received during exhibition of the draft Financial Sustainability Policy and draft Borrowing Policy between 14 August and 13 September 2026, according to resolution 716/2026. Councillors then adopted both policies as presented in Attachments 1 and 2, with the final motion recorded as carried 11-0.
The wording in the defeated motion would have calculated the ratio by dividing annual cash flow available for debt service by principal and interest repayments on external borrowings over the same period. The supplied minutes do not include the final adopted policy wording.
The record is from the unconfirmed minutes of Council’s 26 October meeting. It records the votes and adoption, but the policy item does not quantify any future borrowing, identify a borrowing programme or announce changes to rates, fees or other resident charges.
What deserves a closer look
The record supports reporting that a motion containing proposed ratio wording was defeated, followed by adoption of both policies as presented. It does not record a separate amendment vote on the ratio wording.
The supplied record gives the proposed ratio wording but does not include the full adopted Borrowing Policy or its final definition.
The policy item identifies no new borrowing amount or new resident charge.
Questions for follow-up reporting
What Debt Service Coverage Ratio definition appears in the final adopted Borrowing Policy?
How will Council apply the adopted policies to existing or proposed borrowings?
What were the positions taken in the four submissions, and did Council make any changes in response to them?
Check the record
These passages were matched to the source text. Read them in context in the original minutes.
The meeting record is labelled unconfirmed and identifies the 26 October 2026 Ordinary Council meeting of Woollahra Municipal Council.
Ordinary Council Monday, 26 October 2026 6:30 PM Minutes Unconfirmed Woollahra Municipal Council Ordinary Council 26 October 2026 Page | 2 Ordinary Council Meeting Minutes of the Meeting of Ordinary Council held at the Council Chambers, 536 New South Head Road, Double Bay, on 26 October 2026 at 6:30 PM.
Meeting heading and opening record
Open original minutes ↗Resolution 716/2026 records Council noting four submissions received during public exhibition of the draft Financial Sustainability Policy and draft Borrowing Policy from 14 August 2026 to 13 September 2026, and adopting the policies as presented in Attachments 1 and 2.
Note:In accordance with Council's Code of Meeting Practice a Division of votes is recorded on this matter. For the MotionAgainst the Motion Councillor Ardouin, Councillor Dixson, Councillor Woodgate Councillor Jarvis, Councillor Mitchell, Councillor Parmegiani, Councillor Price, Councillor Regan, Councillor Robertson, Councillor Silcocks, Councillor Torsten 3/8 (Councillor Dixson/Councillor Silcocks) 716/2026 Resolved: THAT Council: A. Notes the four submissions received for the draft Financial Sustainability Policy and draft Borrowing Policy during public exhibition from 14 August 2026 to 13 September 2026. B. Adopt the Financial Sustainability Policy presented as Attachment 1. C. Adopt the Borrowing Policy presented as Attachment 2. The Motion was put and Carried. Unconfirmed Woollahra Municipal Council Ordinary Council 26 October 2026 Page | 17 Note:In accordance with Council's Code of Meeting Practice a Division of votes is recorded on this matter.
Item 13.1.1, resolution 716/2026
Open original minutes ↗The defeated motion contained proposed Debt Service Coverage Ratio wording using annual cash flow available for debt service divided by principal and interest repayments on external borrowings over the same annual period; its recorded division was three for and eight against.
C. Adopt the Borrowing Policy presented as Attachment 2, subject to the amending the definition of the Debt Service Cover Ratio to instead read: "The Debt Service Coverage Ratio is calculated to determine the extent Council's operating performance covers its debt obligations. In each case, it is calculated by dividing the Cash Flow Available for Debt Service (CFADS) across an annual period by principal and interest repayments on external borrowings over that same annual period." The Motion was put and Lost. Note:In accordance with Council's Code of Meeting Practice a Division of votes is recorded on this matter. For the MotionAgainst the Motion Councillor Ardouin, Councillor Dixson, Councillor Woodgate Councillor Jarvis, Councillor Mitchell, Councillor Parmegiani, Councillor Price, Councillor Regan, Councillor Robertson, Councillor Silcocks, Councillor Torsten 3/8 (Councillor Dixson/Councillor Silcocks) 716/2026 Resolved: THAT Council: A.
Item 13.1.1, proposed definition and division on the defeated motion
Open original minutes ↗Council adopted the Financial Sustainability Policy and Borrowing Policy as presented, with the motion recorded as carried and a division listing 11 councillors for and none against.
Notes the four submissions received for the draft Financial Sustainability Policy and draft Borrowing Policy during public exhibition from 14 August 2026 to 13 September 2026. B. Adopt the Financial Sustainability Policy presented as Attachment 1. C. Adopt the Borrowing Policy presented as Attachment 2. The Motion was put and Carried. Unconfirmed Woollahra Municipal Council Ordinary Council 26 October 2026 Page | 17 Note:In accordance with Council's Code of Meeting Practice a Division of votes is recorded on this matter. For the MotionAgainst the Motion Councillor Ardouin, Councillor Dixson, Councillor Jarvis, Councillor Mitchell, Councillor Parmegiani, Councillor Price, Councillor Regan, Councillor Robertson, Councillor Silcocks, Councillor Torsten, Councillor Woodgate None 11/0 13.1.2.
Resolution 716/2026 and its recorded division
Open original minutes ↗Source record
Reporting from the unconfirmed public minutes of Woollahra Municipal Council’s Ordinary Council meeting held on 26 October 2026.
Key facts from the minutes
- Council noted four submissions on the draft policies during exhibition from 14 August to 13 September 2026.
- Resolution 716/2026 records adoption of the Financial Sustainability Policy and Borrowing Policy as presented.
- A motion containing a proposed Debt Service Coverage Ratio definition was defeated 3-8 before the policies were adopted.
- The final policy adoption was recorded as carried 11-0.
- The supplied minutes do not include the final adopted policy wording, and the policy item does not identify new borrowing, a borrowing amount or new resident charges.
Why it matters
- The decision concerns Council’s financial sustainability and borrowing framework. The unconfirmed minutes record the defeat of a motion containing proposed Debt Service Coverage Ratio wording, but do not provide the final policy wording or quantify any financial effect.