To formally apply the accounting principles outlined in the National Competition Policy (NCP) reforms to the operational implementation of our budget documents. This is in accordance with section 34 of the Local Government Regulation 2012
This policy outlines: (a) risks that we are exposed to through operations related to financial management, control measures adopted to manage these risks and the duties of employees responsible for carrying out an activity relating to financial management
To provide a framework to manage surplus cash and equity investments in accordance with section 191 of the Local Government Regulation 2012 and to ensure that there are investment criteria that reduce the risk of loss of capital, provide a beneficial return, are in the public interest and support Council liquidity requirements
To minimise the risk of loss and to follow up and take the appropriate action in order to make sure all Adopted Infrastructure Charges Notices (AICN) and other charges in relation to works carried out on the land are collected.
To provide a framework for governing related‐party transactions, reporting related‐party transactions, balances and commitments to achieve the level of disclosures required by the Australian Accounting Standard AASB 124 Related party disclosures.
To provide a framework by which we may structure a portfolio of income generating strategies to meet the financial requirements of our functional programs in accordance with our overall corporate objectives,the Local Government Act 2009 and Local Government Regulation 2012.