Key dates for the completion of the general purpose financial statements and annual reports from the 2012/13 financial year
Annual Report Compliance Checklist 2012/13
This bulletin is to provide councils with an overview of the new timing requirements under the Local Government Regulation 2012 for the completion of the general purpose financial statements and the annual report from the 2012/13 financial year. In addition, the department has updated the 'Annual Report Checklist' ( 55 KB) to assist councils in the preparation of the new annual report disclosure requirements.
Under the Local Government Act 2009 and the Local Government Regulation 2012, all councils are required to prepare:
- general purpose financial statements each year and give these to the Auditor-General within four months after year end by 31 October. The time agreed between councils and the Auditor-General should allow for the completion of the audit within this four month period
- an annual report for each financial year and adopt this report within one month after the Auditor-General signs off on council's general purpose financial statements.
The legislation allows councils to apply to the Minister for Local Government, Community Recovery and Resilience for an extension of time only in extraordinary circumstances, for either the:
- general purpose financial statements to be given to the auditor-general, and
- annual report to be adopted.
Within two weeks of adopting the annual report the council must publish on its website this report, which must include:
- its general purpose financial statements
- the current-year financial sustainability statement for the financial year
- the long-term financial sustainability statement for the financial year
- the auditor-general's reports about the general purpose financial statement and the current-year financial sustainability statement
- the community financial report for the financial year.
Annual report checklist
The 'Annual Report Checklist' ( 55 KB) is a Microsoft Excel file which lists the current legislative requirements.
Department suggestions for the annual report
The department suggests that local governments separately disclose in the annual report an Index identifying how each of the required legislative disclosures have been met.
- the annual report must be published on council's website.
- if council also decides to provide copies it could investigate the cost effectiveness of printing compared with either providing a PDF version on either a disc or a USB.
The general purpose financial statements and annual report requirements are contained in:
- Local Government Act 2009
- Local Government Regulation 2012.
For any further enquiries on this matter please contact the department on 13 QGOV (13 74 68).