Frequently asked questions about financial reporting
Can councils request an extension to lodge their financial statements?
Yes. The General Manager can write to the CEO of the Division requesting an extension. Requests for extensions to submit financial reports will not be approved unless there are extraordinary circumstances. Requests for extensions on the grounds of computer difficulties and/or lack of staff resources will not be considered extraordinary.
What if Council’s financial position is declining?
The Division monitors the financial performance of all NSW councils. A risk analysis is carried out upon receipt of council financial reports and further action taken if considered necessary. A desk review, on site review or a Promoting Better Practice review could be undertaken.