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Ordinary Council Meeting – Agenda 16 February 2009
8.2.3 FINANCIAL STATEMENT FOR PERIOD ENDING 30 NOVEMBER 2008
File No: NOVEMBER 08
Responsible Officer: Jim Goulias
Acting Manager Financial Services
Author Name: Vicki Clarke
Expenditure Accountant
Disclosure of Interest: Nil
REPORT PURPOSE
To provide Council with a summary of the financial position as at the specified period,
noting that the final figures for 2007/08 are subject to auditor‟s confirmation.
Background
In accordance with the Local Government Act 1995 and Local Government (Financial
Management) Regulations 1996, a Statement of Financial Activity is required to be
presented to Council as a minimum requirement.
In accordance with the regulations, a report must be compiled on variances greater than
the materiality threshold adopted by Council (10% or $10,000).
With this report being composed at programme level, only a general comment can be
made regarding the variances.
The Act states that a statement of financial activity, and accompanying documents, are to
be;
1) presented to the Council;
(a) at the next ordinary meeting of council following the end of the month to
which the statement relates; or
(b) if the statement is not prepared in time to present it to the meeting referred
to in (a) above, to the next meeting of Council after that meeting; and
2) recorded in the minutes of the meeting at which it is presented.
As a consequence, the financial reports for the month ending November 2008 are
presented to Council.
Issues
None
Options
None
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