8BPrinciples of sound financial management

#### 8B Principles of sound financial management 8B Principles of sound financial management > The following principles of sound financial management apply to councils— > > > (a) Council spending should be responsible and sustainable, aligning general revenue and expenses. > > > (b) Councils should invest in responsible and sustainable infrastructure for the benefit of the local community. > > > (c) Councils should have effective financial and asset management, including sound policies and processes for the following— > > > > > (i) performance management and reporting, > > > > > (ii) asset maintenance and enhancement, > > > > > (iii) funding decisions, > > > > > (iv) risk management practices. > > > (d) Councils should have regard to achieving intergenerational equity, including ensuring the following— > > > > > (i) policy decisions are made after considering their financial effects on future generations, > > > > > (ii) the current generation funds the cost of its services. > > **ss 8A–8C:** Ins 2016 No 38, Sch 1 \[2\].