The Local Government Finance Authority of South Australia (LGFA) proudly and exclusively serves South Australian Councils and Local Government Bodies. It has done this with distinction since being established under the Local Government Finance Authority Act, 1983 as a body corporate.
The LGFA is administered by a Board of Trustees, and works for the benefit of Councils and other Local Government Bodies within South Australia. It is not part of the Crown, nor is it an agency or instrumentality of the Crown.
All South Australian Councils are automatically Members of the Finance Authority, but use of LGFA services for investment and loans is entirely voluntary.
State Government Guarantee
LGFA members have good reason to be confident in their dealings with the LGFA as, in accordance with Section 24 of the Local Government Finance Authority Act, 1983 the Treasurer of South Australia guarantees all of the Authority’s liabilities, including monies accepted on deposit from clients.
Members who support the Authority with deposits or who use our loan facilities share in the LGFA’s success with annual distributions based on deposit and loan support / utilisation.
Local Government Research and Development Fund
LGFA makes payments equivalent to Company Income Tax directly into a fund that is used exclusively for the benefit of South Australian Local Government. The funds in this account are available for local government development purposes based on recommendations by the Local Government Association of South Australia that have the support of the South Australian Minister for Local Government. It is a requirement that the LGFA has no involvement in the control or dispersion of funds from this account.