Annual Report 2005/2006 - Port Augusta - SA.Gov.au

More documents

Recommendations

Info

CITY OF PORT AUGUSTA NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 JUNE, 2006 NOTE 1 SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial report are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 1.1 Basis of Preparation 1.1.1 Compliance with Australian equivalents to International Financial Reporting Standards This general purpose financial report has been prepared in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS) as they apply to not-for-profit entities, other authoritative pronouncements of the Australian Accounting Standards Board, Urgent Issues Group Interpretations (UIGs) and relevant South Australian legislation. The financial report was authorised for issue by the Council by certificate under clause 11 of the Local Government (Financial Management) Regulation 1999 dated 26 th November, 2006). 1.1.2 Compliance with International Financial Reporting Standards AIFRS include certain specific provisions relating to not-for-profit entities that are not included in the International Financial Reporting Standards. In addition, Australian Accounting Standard AAS 27 Financial Reporting by Local Governments also applies. Except to the extent that these special provisions require, these financial statements comply with International Financial Reporting Standards. The principal areas of non-compliance relate to the recognition of nonreciprocal revenues, the definition of value in use for the purposes of AASB 116 Impairments and the offsetting of revaluation increments and decrements within classes of assets, and are detailed more particularly below. 1.1.3 Application of AASB 1 First-time Adoption of AIFRS These statements are the first Port Augusta City Council Financial Statements to be prepared in accordance with AIFRS and AASB1 Firsttime Adoption of AIFRS has been applied in their preparation. Previous financial statements have been prepared in accordance with the former Australian Generally Accepted Accounting Principles (GAAP) which differ in certain respects from AIFRS. When preparing these financial statements, Council has amended certain accounting and valuation methods applied in the AGAAP financial statements to comply with AIFRS. With the exception of financial instruments, where Council has taken the exemption available under AASB1 to only apply AASB 132 and AASB 139 from 1 July 2005, the comparative figures have been restated to reflect these adjustments. 1.1.4 Historical Cost Convention Except where stated below, these financial statements have been prepared in accordance with the historical cost convention. - 45 -
CITY OF PORT AUGUSTA NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 JUNE, 2006 1.1.5 Critical Accounting Estimates The preparation of financial statements in conformity with AIFRS requires the use of certain critical accounting estimates, and requires management to exercise its judgement in applying Council’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are specifically referred to in the relevant sections of this Note. 1.1.6 Rounding All amounts in the financial statements have been rounded to the nearest dollar ($0). 1.2 The Local Government Reporting Entity The Port Augusta City Council is incorporated under the SA Local Government Act 1999 and has its principal place of business at 4 Mackay Street, Port Augusta, South Australia. These financial statements include the consolidated fund and all entities through which Council controls resources to carry on its functions. In the process of reporting on the Council as a single unit, all transactions and balances between activity areas and controlled entities have been eliminated. Trust monies and property held by Council but subject to the control of other persons have been excluded from these reports. A separate statement of moneys held in the Trust Fund is available for inspection at the Council Office by any person free of charge. 1.3 Revenue recognition Revenue is measured at the fair value of the consideration received or receivable. Revenue is recognised when the Council obtains control over the assets comprising the revenue, or when the amount due constitutes an enforceable debt, whichever first occurs. Where grants, contributions and donations recognised as revenues during the reporting period were obtained on the condition that they be expended in a particular manner or used over a particular period, and those conditions were undischarged as at the reporting date, the amounts subject to those undischarged conditions are disclosed in these notes. Also disclosed is the amount of grants, contributions and receivables recognised as revenues in a previous reporting period which were obtained in respect of the Council’s operations for the current reporting period. 1.4 Cash Assets and other Financial Instruments Cash Assets include all amounts readily convertible to cash on hand at Council’s option with an insignificant risk of changes in value with a maturity of three months or less from the date of acquisition. - 46 -
Page 2 and 3: The Port Augusta City Council is ha
Page 4 and 5: A harmonious, unique, vibrant commu
Page 6 and 7: Section Six: Community Acknowledgem
Page 8 and 9: Mayor & City Manager’s Report Ano
Page 10 and 11: 2.1 ELECTED MEMBER INFORMATION 2005
Page 12 and 13: 2.2 COUNCIL AND COMMITTEE STRUCTURE
Page 14 and 15: and Benefits will be available prio
Page 16 and 17: 2.7.2 Staffing overview as at the 3
Page 18 and 19: GOAL AREA 1: Community Development
Page 20 and 21: GOAL AREA 1: Community Development
Page 22 and 23: awareness of the network and possib
Page 24 and 25: These courses were Federally funded
Page 26 and 27: a) Flexible connection to the Publi
Page 28 and 29: with all their presentations in the
Page 30 and 31: Nominations were received from Port
Page 32 and 33: A Committee has been set up by the
Page 34 and 35: c) On-Line Retail Shop A new initia
Page 36 and 37: GOAL AREA 3: Economic Development S
Page 38 and 39: would then carry the name of the no
Page 40 and 41: GOAL AREA 4: Infrastructure & Resou
Page 42 and 43: CITY OF PORT AUGUSTA OPERATING STAT
Page 44 and 45: CITY OF PORT AUGUSTA STATEMENT OF C
Page 48 and 49: CITY OF PORT AUGUSTA NOTES TO AND F
Page 68 and 69: GOAL AREA 4: Infrastructure & Resou
Page 70 and 71: PERFORMANCE IN RELATION TO THE PROG
Page 72 and 73: VECTOR CONTROL 1. Mosquitoes 5 comp
Page 74 and 75: GOAL AREA 6: Organisational Effecti
Page 76 and 77: 1. 10 Year Service Employee Award G
Page 78 and 79: INFORMATION STATEMENT 4.1 DECISION
Page 80 and 81: 4.4 PUBLIC PARTICIPATION 4.4.1 Publ
Page 82 and 83: 4.6 COMMUNITY CONSULTATION Council
Page 84 and 85: Quality of Life Performance Index S
Page 86 and 87: Website www.portaugusta.sa.gov.au u
Page 88 and 89: Human Resource Manual 4.1.01 Statut
Page 90 and 91: s e c t i o n f i v e ARID - A Scul
Page 92 and 93: h) pensioner concessions i) unemplo
Page 94 and 95: 1.5 The Council conducts public con
Page 96 and 97:
) The support provided to the North
Page 98 and 99:
5.5.3 The minimum rate will affect
Page 100 and 101:
eceived late. A payment that contin
Page 102 and 103:
5.1 RATE REBATES The Local Governme
Page 104 and 105:
11) Nerrilda Nursing Home/AM Ramsay
Page 106 and 107:
The “Community” is the sole of
Page 108 and 109:
Sportsperson of the Month Incentive
Page 110 and 111:
Senior Citizens Club of Port August
Page 112:
Council also won the Local Governme
show all

Annual Report 2005/2006 - Port Augusta - SA.Gov.au

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?