Why do we need a financial reserves policy?
The Financial Reserves Policy ensures that Frankston City Council manages its cash balances and financial reserves in a sustainable, responsible, and transparent way. It provides a consistent approach for identifying, establishing, administering, and using both statutory and discretionary restricted financial reserve accounts.
Financial reserves are set aside to fund specific Council projects and future initiatives. This Policy has been developed to support accountability, transparency, and compliance with the Local Government Act 2020.
How will your feedback be used?
Your input will help refine the policy before it is presented to Council for adoption. We invite you to review the draft Financial Reserves Policy below and share your feedback in our survey below by 11.59pm 15 March 2026.Learn more about the draft Financial Reserve Policy
This is a revised Financial Reserves Policy. The updated policy helps ensure that Council manages its cash and financial reserves responsibly and sustainably. It sets out a consistent and transparent process for how the different types of financial reserves are identified, created, managed, and used.
Yes, Council is required to adopt financial policies that give effect to the financial management principles, as outlined in the Local Government Act 2020.
Yes, Council must comply with the financial management principles, as outlined in the Local Government Act 2020.
Download a copy of the draft Financial Reserves Policy
Engagement activity
Engagement Overview
Engagement Purpose
We’re seeking feedback on the revised Financial Reserves Policy to make sure it clearly explains how reserve accounts work. This includes the key principles that guide when funds are created, added, or transferred; the different types of reserve accounts Council use, and how these accounts are managed and reported on.
Engagement Dates
Community engagement is open for feedback from 11 February to 15 March 2026.
Engagement Methods
Participants are invited to review the revised policy and answer a short survey, including a space to add free text comments.
Participants can also contact the project team directly by phone or email using the contact details published at the bottom of this page.
The policy can be reviewed in several ways:
- View the document on a webpage (no download required)
- Download a PDF copy of the policy to view on a device or print at home
- Telephone the project team to ask questions and discuss the policy document
Participants have access to the following supports:
- Language translation tool on the Engage Frankston page
- Contact the project team by phone or email to discuss the document and provide feedback
- Make use of Councils interpreter service or the National Relay Service - see details at the bottom of this page
Council will promote the project to reach interested community members by:
- Sending a new project notification email to Engage Frankston members with a registered interest in "Council business and finance"
- Including an article about the Policy in the Frankston City eNews.
Engagement Results
A summary of the engagement results will be published here following the engagement period.
Services to support your participation
 | Council can arrange a telephone interpreter for you, call us on 1300 322 322 Or you can call: |
 | Interpreter Service: 131 450 |
 | NRS: 133 677 or 1300 555 727 |
