2021-06-30 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                30 JUNE 2021


4    STATEMENT OF ESTIMATED FINANCIAL POSITION FOR THE 2020-21 FINANCIAL
     YEAR


Author            Manager Financial Services, Trent Grauf
                  Corporate Services Department

Index             ECM/ Subject/ 2021 - 2022 Budget

Attachments       1.    Statement of Estimated Financial Position



EXECUTIVE SUMMARY
Not applicable.

RECOMMENDATION
That Council note the report by the Manager Financial Services to the Special Meeting dated 30
June 2021 and pursuant to section 205 of the Local Government Regulation 2012, note the
Statement of Estimated Financial Position for the 2020/21 Financial Year which is provided as
Attachment 1 to the report.



REPORT
The Statement of Estimated Financial Position is a statement that must be presented to the Council
as part of the Council’s annual budget meeting and is a requirement under section 205 of the Local
Government Regulation 2012.

The Statement of Estimated Financial Position is a document that states the estimated financial
operations and financial position of Council for the 2020/21 financial year.

The financial statements as provided in Attachment 1 provides a comparison between the 2020/21
original budget and latest forecast 30 June 2021 position (being the current Budget Review 3 (BR3)
adopted at Council’s Ordinary Meeting on 15 April 2021).

It should also be noted that end of financial year adjustments such as new accounting standards,
changes in employee payables in addition to asset adjustments may change the final financial
position once known.

As part of transparent reporting processes interim financial performance is reported to Council in the
July round of meetings, with a final financial year-end wrap up report provided following completion
of the audit by the Queensland Audit Office (usually November or December each year).

Previous Council Consideration
Special Meeting Minutes, 10 July 2020, Item 5, Page 10
That Council note the report by the Manager Financial Services to the Special Meeting dated 10 July
2020 and pursuant to section 205 of the Local Government Regulation 2012, note the Statement of
Estimated Financial Position for the 2019/20 Financial Year which is provided as Attachment 1 to
the report.




                                                                                       Page 43 of 67