2017-11-07 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                     7 NOVEMBER 2017


CORPORATE SERVICES DEPARTMENT

BRANCH ACTIVITIES                       RECENT ACHIEVEMENTS                         CURRENT PRIORITIES                         THE NEXT QUARTER
Financial Services

Budget                                     August budget review for carryovers       November budget review process           Guidelines and timeframes for the
                                             has been finalised and adopted.             has commenced.                             2018/19 budget are being prepared
                                                                                       New Technology One Enterprise              to enable commencement of the
                                                                                         Budget module is being                     process by December 2017.
                                                                                         implemented in preparation for use
                                                                                         for 2018/19 budget development.

Assets                                     $8.9M new assets constructed/             Recruitment of vacant Asset              Finalise the revised useful lives to be
                                             purchased in 2016/17 recognised.            Accountant position.                       applied to road assets.
                                           $5.5M new assets contributed in           Asset management initiative to           Reconcile road assets data in
                                             2016/17 recognised.                         reconcile road assets between the          TechnologyOne to SMEC/ GIS and
                                           QAO audit of asset capitalisation           pavement management system                 assess financial sustainability
                                             completed.                                  (SMEC) and Technology One GIS.             implications from updated road data
                                                                                       Development of monitoring and              and lives.
                                                                                         reporting tools to track status of       Asset recognition procedures and
                                                                                         asset capitalisation.                      forms to be reviewed to streamline
                                                                                       Commence annual revaluations for           processes and improve efficiency.
                                                                                         selected asset classes.

Financial Statements and Audit Review      Annual external audit is complete.        Adoption of financial statements by      Undertake an internal lessons learnt
                                           Financial Statements have been              Council.                                   workshop to improve financial
                                             finalised, reviewed by the Audit and                                                   reporting processes for 2017/18
                                             Risk Committee and signed off by                                                       audit and financial statements
                                             QAO.                                                                                   preparation.

Treasury, Investments and Banking          Investment portfolio reviewed in          Review location, service cost and        Replace existing old (non-pay wave)
                                             alignment to revised Investment             usage of current payment devices           eftpos machines, including
                                             Policy, with $35 million available          held by Council for customer               consideration of a remote payment
                                             cash reinvested in a spread high            payment.                                   site (e.g. Cooroy Library).
                                             yielding deposits.                                                                   Internal audit of bank reconciliation
                                                                                                                                    processes.




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