Local Government Loan Applications
In order to assist Western Australian local governments in accessing loan funds in the most appropriate and prudent manner, WATC has established the Local Government Borrowing Kit to facilitate the loan approval process. This Kit includes a key financial information form and loan application form that must be submitted to WATC for assessment before loan funds can be drawn.
For further information and/or a copy of the Local Government Borrowing Kit and appropriate forms, please contact the Debt Finance team.
Key financial information form
Prior to submitting a new Loan Application Form to WATC, a local government is required to complete a Key Financial Information Form based on data contained within:
- audited annual financial statements for the preceding financial year
- adopted budget for the current financial year
and provide WATC with a hard or soft copy of the abovementioned reports.
Loan application form
A Loan Application Form is required to be completed for each new borrowing or refinancing of an existing loan. The form is in Excel format and will therefore need to be completed in Excel. The Loan Application Form has four main parts:
- The first part of the form requests information directly related to the proposed loan.
- The second part of the form requests current financial information submitted to Council.
- The third part of the form refers to relevant financial ratios derived from audited financial statements, adopted budget and current financial position at the time of each loan application.
- The fourth part of the form (Representation and Authorisation) requires the local government to certify that the information provided is accurate.
A completed Loan Application Form and documentation supporting the information provided within the Loan Application Form is required to be forwarded to Client Debt Finance and Investments via either email, facsimile or post before a firm quotation can be provided.