2011-2012 Annual Report - Full Version - PDF - Palmerston North ...

Independent Auditor’s ReportTo the readers of Palmerston North City Counciland group’s annual reportfor the year ended 30 June 2012The Auditor-General is the auditor of PalmerstonNorth City Council (the City Council) and group. TheAuditor-General has appointed me, Bede Kearney,using the staff and resources of Audit New Zealand,to carry out the audit of the financial statements,non-financial performance information and otherinformation required by schedule 10 of the LocalGovernment Act 2002 (other information) of theCity Council and group on her behalf.We have audited:• the financial statements of the City Council andgroup on pages 27 to 195, that comprise thestatement of financial position as at 30 June2012, the statement of comprehensive income,statement of changes in equity and statementof cash flows for the year ended on that dateand the notes to the financial statementsthat include accounting policies, explanatoryinformation and other information required byschedule 10 of the Local Government Act 2002;and• the non-financial performance informationof the City Council and group on pages 27to 130 and 189 to 195 that includes otherinformation required by schedule 10 of theLocal Government Act 2002.Opinion on the financial statements,non-financial performance informationand other informationIn our opinion:• The financial statements of the City Counciland group on pages 27 to 195:• comply with generally accepted accountingpractice in New Zealand; and• fairly reflect:• the City Council and group’s financialposition as at 30 June 2012; and• the results of its operations and cashflows for the year ended on that date.• The non-financial performance information ofthe City Council and group on pages 27 to 130and 189 to 195:• complies with generally acceptedaccounting practice in New Zealand; and• fairly reflects the City Council and group’slevels of service for the year ended 30 June2012, including:• the levels of service as measuredagainst the intended levels of serviceadopted in the long-term councilcommunity plan; and• the reasons for any significant variancesbetween the actual service and theexpected service.• The other information of the City Council andgroup contained in the financial statements andthe non-financial performance information,complies with the requirements of Schedule 10of the Local Government Act 2002 applicableto the annual report and fairly reflects therequired information.Our audit was completed on 26 September 2012.This is the date at which our opinion is expressed.The basis of our opinion is explained below. Inaddition, we outline the responsibilities of theCouncil and our responsibilities, and explain ourindependence.Basis of opinionWe carried out our audit in accordance with theAuditor-General’s Auditing Standards, whichincorporate the International Standards onAuditing (New Zealand). Those standards requirethat we comply with ethical requirements andplan and carry out our audit to obtain reasonableassurance about whether the financial statements,non-financial performance information and otherinformation are free from material misstatement.Material misstatements are differences oromissions of amounts and disclosures that wouldaffect a reader’s overall understanding of thefinancial statements, non-financial performanceinformation and other information. If we had foundmaterial misstatements that were not corrected,we would have referred to them in our opinion.An audit involves carrying out procedures toobtain audit evidence about the amounts anddisclosures in the financial statements, nonfinancialperformance information and otherinformation. The procedures selected depend onPalmerston North City Council Annual Report 2011/12Financial Statements Auditor's Report131