BENDIGO and nine other regional councils will investigate the potential of a new funding model, which the group believes could save millions of dollars.
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The shared treasury services model was proposed by Regional Cities Victoria as a way to reduce interest payments for each of the ten member councils.
Bendigo, Mildura, Horsham, Ballarat, Shepparton, Geelong, Latrobe, Wangaratta, Warrnambool and Wodonga are involved in the initiative.
The proposed model would see the cities aggregate funds to provide access to wholesale investment markets.
“The savings achieved from such a model would allow RCV cities to make further investments in their communities, address infrastructure backlogs and develop their assets,” Minister for Regional Development Jaala Pulford said on Friday.
“We’re pleased to support a business case to develop their proposal for a shared treasury services model.”
The state government will contribute $100,000 towards the business case development.
