Council Finances

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.

17-36 – Annual Code of Conduct Complaints Reporting

Under the Model Code of Conduct Procedures, each council’s complaints coordinator must report annually on a range of complaint statistics to their council and to the Office of Local Government within three months of the end of September.

17-28 – 2017-2018 Calendar of Compliance and Reporting Requirements

The 2017-18 Calendar of Compliance and Reporting Requirements is now available for councils.

17-27 – End of Year Financial Reporting 2016-17

End of year financial reporting information has been updated for 2016-17. The Financial Data Return (FDR) 2016-17 has also been updated to reflect the changes within the Local Government Code of Accounting Practice and Financial Reporting (Update No. 25). Additional worksheets have been included to capture the assets, liabilities and rating information of new entities.

17-21 – Reporting of Rates Permissible Income for 2017-18

On 29 November 2016, the Independent Pricing and Regulatory Tribunal (IPART) announced the 2017-18 rate-peg limit of 1.5%. The Special Schedule 8 Permissible Income Workpapers have been updated accordingly. The rate-peg for 2017-18 will be used to calculate the Permissible Income that will be reported and audited with the Financial Statements for 2017-18.

17-04 – Topics for local government performance audit by Auditor-General of NSW

The Auditor-General of NSW was given the mandate to conduct performance audits of a council, or the sector, as part of the Phase 1 amendments to the Local Government Act 1993.