Can councils request an extension to lodge their financial statements?
Yes. The General Manager can write to the Deputy Secretary, Local Government, Planning and Policy 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 Office of Local Government 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.
Other Important Resources:
Click on the links below for information about financial reporting, including information about the Code of Accounting Practice and goods and services tax.
- Council Circular 15-29 – Auditing of the Report on Infrastructure Assets (Special Schedule 7)
- Council Circular 11-23 – GST Certificate – Revised Requirements
- Local Government Code of Accounting Practice and Financial Reporting
- Quarterly Budget Review Statement for NSW Local Government – PDF
- See also – Integrated Planning and Reporting.