Common use of Finance Arrangements Clause in Contracts

Finance Arrangements. 10.1 Maroondah City Council will be responsible for managing EAGA’s finances. Funding received from member councils will be used for the core operation of EAGA which includes staff salary and on-costs (including, superannuation, WorkCover accrual, long service leave accrual, sick leave and leave loading, on-costs) and other operational costs. The host council will absorb overhead and administrative costs associated with the position. 10.2 The host council will report to member councils on an annual basis in regard to the EAGA funds spent in each financial year and the budget balance (the EAGA Reserve). The host council will invoice each member council for their membership fee in May of each year for the coming financial year. 10.3 The EAGA Reserve will be used for supporting project work and capacity building opportunities for EAGA members. Additional funding to facilitate priority projects will be sought from member councils and via funding applications to state and federal government and other organisations as opportunities arise. 10.4 To ensure that the host council is not exposed to financial risks associated with a council member exiting the Alliance, a minimum $50,000 surplus will be retained within the EAGA Reserve to ensure that employment contracts can be honoured and/or redundancy payments can be made to EAGA staff. Members agree that the minimum reserve surplus can be allocated to meeting staff costs to ensure service continuity for remaining members.

Finance Arrangements. 10.1 Maroondah City Council will be responsible for managing EAGA’s finances. Funding received from member councils will be used for the core operation of EAGA which includes staff salary and on-costs (including, superannuation, WorkCover accrual, long service leave accrual, sick leave and leave loading, on-costs) and other operational costs. The host council will absorb overhead and administrative costs associated with the positionboth positions. 10.2 The host council will report to member councils on an annual basis in regard to the EAGA funds spent in each financial year and the budget balance (the EAGA Reserve). The host council will invoice each member council for their membership fee fees in May July of each year for the coming financial year. 10.3 The Any surplus in the EAGA Reserve will may be used for supporting project work and capacity building opportunities for via agreement between EAGA members. Additional funding to facilitate priority projects will be sought from member councils and via funding applications to state and federal government and other organisations as opportunities arise. 10.4 To ensure In accordance with Maroondah City Council redundancy provisions as outlined in its Enterprise Agreement, at the date of the program being identified as decommissioned or reduced, all currently participating EAGA Councils agree to share in the full compensation of affected and eligible staff members should redundancy be necessary. It is estimated that these costs are in the host council is not exposed to financial risks associated with a council member exiting the Alliance, a minimum order of $50,000 surplus will be retained within the EAGA Reserve to ensure that employment contracts can be honoured and/or redundancy payments can be made to EAGA staff. Members agree that the minimum reserve surplus can be allocated to meeting staff costs to ensure service continuity for remaining members60,000.

Finance Arrangements. 10.1 Maroondah City Council will be responsible for managing EAGA’s finances. Funding received from member councils will be used for the core operation of EAGA which includes staff salary and on-costs (including, superannuation, WorkCover accrual, long service leave accrual, sick leave and leave loading, on-costs) and other operational costs. The host council will absorb overhead and administrative costs associated with the position. 10.2 The host council will report to member councils on an annual basis in regard to the EAGA funds spent in each financial year and the budget balance (the EAGA Reserve). The host council will invoice each member council for their membership fee in May of each year for the coming financial year. 10.3 The EAGA Reserve will be used for supporting project work and capacity building opportunities for EAGA members. Additional funding to facilitate priority projects will be sought from member councils and via funding applications to state and federal government and other organisations as opportunities arise. 10.4 To ensure that the host council is not exposed to financial risks associated with a council member exiting the Alliance, a minimum $50,000 surplus will be retained within the EAGA Reserve to ensure that employment contracts can be honoured and/or redundancy payments can be made to EAGA staff. Members agree that the minimum reserve surplus can be allocated to meeting staff costs to ensure service continuity for remaining membersm4embers.