2015-10-14 Audit & Risk Committee Meeting - Draft Annual Financial Statements

AUDIT & RISK COMMITTEE MEETING REPORT                                                   14 OCTOBER 2015


It is noted that all of the changes were made in close consultation with the QAO Audit team.

The final net operating result excluding capital income and expenditure is $6,734,645 as compared
to the original draft position of $8,059,179. This variation is partly as a result of the change in
reporting treatment for Council’s investment in Unitywater (point 1 above), and partly as a result of
the change to the calculation of leave provisions (point 2).

As a consequence of changes made to both the operating result and to leave provisions, the
financial sustainability ratios have also changed.


Previous Committee Consideration

Draft financial statements were presented to the 21 August 2015 Audit & Risk Committee meeting
for consideration.

Finance & Risk

Nil.

Consultation

External Consultation - Community & Stakeholder

There has been extensive consultation with QAO in the preparation and review of the financial
statements to ensure compliance with the relevant legislation and accounting standards.

Internal Consultation

Nil.

Departments/Sections Consulted:

       Chief Executive Officer                Community Services                 X   Corporate Services
       Executive Officer to the Mayor & CEO   Community Facilities               x   Financial Services
       Executive Support                      Community Development                  ICT
                                              Libraries & Galleries                  Procurement & Fleet
                                              Local Laws                             Property & Facilities
                                              Waste & Environmental Health           Revenue Services

       Executive Office                       Planning & Infrastructure
       Community Engagement                   Building & Plumbing Services
       Customer Service                       Civil Operations
       Economic Development                   Infrastructure Planning & Design
       Governance                             Planning & Environment
       Human Resources                        Strategic Land Use Planning
       Sustainability




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