The Andrews Government has allocated $100,000 for Regional Cities Victoria (RCV) to develop a business model for shared treasury services.
The model will allow the ten member councils of Regional Cities Victoria (RCV) to work together to reduce costs, meaning more money will be directed back into local communities.
Minister for Regional Development Jaala Pulford, who announced the plan said, “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 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 achieved from such a model would allow RCV cities to make further investments in their communities, address infrastructure backlogs and develop their 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.
