Council Finances

19-12 Consultation by IPART on recommended reforms to local government election costs and extension of the deadline for councils to make a decision on the administration of their elections

The Government has asked the Independent Pricing and Regulatory Tribunal (IPART) to review the costs of conducting local government elections in NSW. IPART is now seeking feedback on its recommended changes to what councils pay for election services provided by the NSW Electoral Commission (NSWEC).

Grants Commission Circular- GC – 148 – 2019-20 Financial Assistance Grants (FAGs) – advance payment and on-going transition to implement improvements to the existing allocation model

The Deputy Prime Minister, Minister for Infrastructure, Transport and Regional Development, the Hon Michael McCormack MP has advised that the Australian Government will again bring forward the first two instalments of the estimated 2019-20 FAGs.

19-09 Increase to companion animal registration fees in line with CPI

From 1 July 2019 cat and dog lifetime registration fees will increase in line with the Consumer Price Index as required by the Companion Animals Regulation 2018 and outlined in Circular to Councils 13-54.

18-39 – Debt Management and Hardship Guidelines

The Office of Local Government has issued new Guidelines to ensure best practice debt management and hardship practices in all NSW councils.

18-33 – OLG Financial Reporting Workshops 2018-19

The Office of Local Government (OLG) is conducting a series of workshops commencing November 2018 and concluding May 2019 on impending Accounting Standards and the auditing of financial statements. A range of council revenue and lease contracts will be reviewed to enable councils to gain an understanding of the issues to consider in determining the impact of the new standards.

18-31 – Special Variation and Minimum Rate Variation Guidelines and Process for 2019-20

The timetable for 2019-20 Special Variation and Minimum Rate Variation applications has been released. The Guidelines that apply to 2019-20 Special Variation and Minimum Rate Variation applications have been published.

18-20 – Guidance to councils on transitioning to the new Australian Accounting Standards

The Office of Local Government has prepared a Guidance Paper, which provides councils with specific direction on adopting the new standards.Further guidance material and information on the new standards will be provided in 2018-19.

18-17 – End of Year Financial Reporting 2017-18

End of year financial reporting information has been updated for 2017-18. Councils need to review the attached end of year financial reporting information and apply it when completing their Financial Statements and their Financial Data Return (FDR).

18-04 – OLG Financial Reporting Roadshows 2018

The Office of Local Government (OLG) is conducting a series of information sessions in March 2018 on impending Accounting Standards and the auditing of financial statements.There will also be an opportunity at the sessions to discuss accounting issues and provide input into OLG’s financial reporting policy and guidelines.

17-35 – Special Variation and Minimum Rate Variation Guidelines and Process for 2018/19

The timetables for 2018/19 Special Variation and Minimum Rate Variation applications have been released. The Guidelines that apply to 2018/19 Special Variation and Minimum Rate Variation applications have been published.