The document discusses the critical role of debt in local government financing, arguing that many councils in Australia maintain low debt levels relative to their income and service responsibilities, which can lead to under-investment in infrastructure. It emphasizes the need for local governments to adopt a more strategic approach to debt management, viewing it as a necessary tool for effective governance rather than a stigma. The paper advocates for changes in guidelines and collaborative efforts among local government associations to improve financial sustainability and service delivery through responsible debt utilization.%0aThe text further highlights the importance of long-term financial planning, treasury management practices, and the need for councils to balance their debt levels with service provision. It critiques current borrowing practices and calls for a shift in community perceptions regarding debt, suggesting that with proper management, councils can effectively address asset renewal backlogs. Overall, the document promotes a more nuanced understanding of debt as a means to enhance local government infrastructure and service delivery.