Does a council need approval to borrow an amount equal to or less than its own source revenue?
No, Section 166(2) of The Municipalities Act allows council to borrow up to this amount without approval but not more and keeping in mind that operating debt is considered part of this amount. What does own source revenue mean? Own source revenue includes taxes, fees and charges, utility income and investment income. All grants, including grants in lieu of taxes, are excluded from calculating own source revenue. APPLICATION FOR APPROVAL TO UNDERTAKE A LOCAL IMPROVEMENT How does a council apply for approval to undertake a local improvement? Municipal administrators should contact the Local Government Committee staff if council is contemplating a local improvement project. The committee may issue its approval to undertake a local improvement work/service upon receipt of required documentation and may set terms and conditions for approval. The municipal administrator should refer to the Local Improvements Manual published by Ministry of Municipal Affairs for information on process and req
