2010 - Yarriambiack Council

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STANDARD STATEMENTS Notes to the Standard Statements 1. Basis of preparation of Standard Statements Council is required to prepare and include audited Standard Statements within its Annual Report. Four Statements are required a Standard Statement of Financial Performance, Standard Statement of Financial Position, Standard Statement of Cash Flows, and a Standard Statement of Capital Works, together with explanatory notes. These statements and supporting notes form a special purpose financial report prepared to meet the requirements of the Local Government Act 1989 and Local Government (Finance and Reporting) Regulations 2004. The Standard Statements have been prepared on accounting basis consistent with those used for General Purpose Financial Statements and the Budget. The result reported in these statements are consistent with those reported in the General Purpose Financial Statements. The Standard Statements are not a substitute for the General Purpose Financial Statements, which are included on pages 43 to 88 of the Annual Report. They have not been prepared in accordance with all Australian Accounting Standards or other authoritative professional pronouncements. The Standard Statements compare Council’s financial plan, expressed through its budget, with actual performance. The Local Government Act 1989 requires explanation of any material variances. The Council has adopted a materiality threshold of 10 per cent. Explanations have not been provided for variations below the materiality threshold unless the variance is considered to be material because of its nature. The budget figures included in the Statements are those adopted by Council on 11 th August 2010. The budget was based on assumptions that were relevant at the time of adoption of the budget. The Council set guidelines and parameters for revenue and expense targets in this budget in order to meet council’s business plan and financial performance targets for both the short and long term. The budget did not reflect any changes to equity resulting from assets revaluations, as their impacts were not considered predictable. Detailed information on the actual financial results is contained in the General Purpose Financial Statements on pages 43 to 88. The detailed budget can be obtained by contacting council or through the council’s website. The Standard Statements must be read with reference to these documents. Annual Report 2009/10 33
STANDARD INCOME STATEMENT For the year ending 30 June 2010 Ref Budget $’000 Actual $’000 Variance $’000 % Revenues Rates and Charges 7,615 7,636 21 0.3% Government Grants – Operating 1 5,322 7,314 1,992 37.4% Government Grants – Capital 1,329 1,443 114 8.6% User Charges 2 1,417 1,706 289 20.4% Reimbursements, Contributions & Donations 3 319 244 (75) (23.5)% Interest 4 123 325 202 164.2% Total Revenues 16,125 18,668 2,543 15.8% Expenses Employee Costs 5,682 5,696 14 0.2% Materials & Services 4,647 4,970 323 7.0% Depreciation 5 4,606 5,273 667 14.5% Contributions & Donations 6 622 701 79 12.7% Finance Costs 7 34 14 (20) (58.8)% Bad Debts - 3 3 - Other Costs 783 817 34 4.3% Total Expenses 16,374 17,474 1,100 6.7% Net loss on disposal of property, infrastructure, plant and equipment Share of Net Profit/(Loss) of Associates accounted for by the equity method 8 45 (2,055) (2,100) (4,666.7)% 9 - 56 56 100.0% NET SURPLUS (DEFICIT) FOR THE YEAR (204) (805) (601) (294.6)% Annual Report 2009/10 34
Page 2 and 3: CONTENTS SHIRE AT A GLANCE 2 REPORT
Page 4 and 5: REPORT FROM THE MAYOR As Mayor of Y
Page 6 and 7: COUNCILLOR PROFILES Mayor Jean Wise
Page 8 and 9: SENIOR MANAGEMENT Chief Executive O
Page 10 and 11: DEPARTMENTAL REPORTS Department of
Page 12 and 13: Community Services Gavin Blinman Ob
Page 14 and 15: Infrastructure Services Management
Page 16 and 17: CONTRIBUTIONS & DONATIONS (continue
Page 18 and 19: • Yarriambiack Shire Council will
Page 20 and 21: December 2009 • Cr Jean Wise repl
Page 22 and 23: • Yarriambiack Shire Council, wit
Page 24 and 25: INFORMATION TO BE MADE AVAILABLE TO
Page 26 and 27: ABOUT US Equal Employment Opportuni
Page 28 and 29: VICTORIAN GOVERNMENT INDICATORS 201
Page 30 and 31: Summary of explanations of major va
Page 32 and 33: INDEPENDENT AUDIT Annual Report 200
Page 36 and 37: STANDARD INCOME STATEMENT Major Var
Page 38 and 39: STANDARD BALANCE SHEET Major Varian
Page 40 and 41: STANDARD CASH FLOW STATEMENT Major
Page 42 and 43: CERTIFICATION OF STANDARD STATEMENT
Page 44 and 45: GENERAL PURPOSE FINANCIAL STATEMENT
Page 46 and 47: GENERAL PURPOSE FINANCIAL STATEMENT
Page 48 and 49: NOTES TO THE ACCOUNTS INTRODUCTION
Page 50 and 51: NOTES TO THE ACCOUNTS Note 1 Signif
Page 56 and 57: NOTES TO THE ACCOUNTS Note 3 Rates
Page 58 and 59: NOTES TO THE ACCOUNTS Note 5 User c
Page 60 and 61: NOTES TO THE ACCOUNTS Note 12 Contr
Page 62 and 63: NOTES TO THE ACCOUNTS Note 17 Cash
Page 64 and 65: NOTES TO THE ACCOUNTS Note 22 Prope
Page 66 and 67: NOTES TO THE ACCOUNTS Note 22 Prope
Page 68 and 69: NOTES TO THE ACCOUNTS Note 26 Provi
Page 70 and 71: NOTES TO THE ACCOUNTS Note 28 Reser
Page 72 and 73: NOTES TO THE ACCOUNTS Note 32 Super
Page 74 and 75: NOTES TO THE ACCOUNTS Note 36 Finan
Page 80 and 81: NOTES TO THE ACCOUNTS Note 38 Relat
Page 82 and 83: NOTES TO THE ACCOUNTS Note 39 Reven
Page 84 and 85:
NOTES TO THE ACCOUNTS Note 41 Capit
Page 86 and 87:
NOTES TO THE ACCOUNTS CERTIFICATION
Page 88:
NOTES TO THE ACCOUNTS INDEPENDENT A
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2010 - Yarriambiack Council

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