2014-01-13 Deamalgamation Report Attachment

The Finance TAP working group were tasked with the establishment of financial systems and
processes for the new Council, including the development of a 6 month budget and negotiation and
liaison with respect to the methodology applied for the separation of assets and liabilities. This
involved:

    Development of an agreed methodology to separate assets and liabilities in particular cash
     and debt - expected to be finalised by the end of January 2014.
    Confirming equity shares and associated share of distributions in Unitywater, including
     necessary legal transfers.
    Negotiating the allocation of plant and equipment to satisfy each Councils need which
     resulted in appropriate levels of plant and equipment for Noosa Council to operate from 1
     January 2014.
    Ensuring the necessary taxation requirements were investigated including ABN, GST and
     OSR registration for Council and its subsidiaries to secure trading names and ensure
     appropriate legal compliance,
    Development of a new financial system chart of accounts and preparation of an interim
     account structure.
    Determining financial reporting requirements for the new council to ensure appropriate
     reporting was in place on 1 January 2014.
    Preparation of an interim 6 month operating and capital budget for consideration by council.
    Monthly recording and publication of de-amalgamation costs.
    Ensuring key supplier arrangements were in place for 1 January 2014 for such items as
     utilities, registrations, ICT, insurances, contractors, plant hire and services.
    Establishing in conjunction with SCC a process for the receipt and payment of creditor’s pre
     and post 1 January 2014 including communication of changes to existing suppliers.
    Record an inventory of relevant debtors as at 31 December 2013 including upload into the
     new rating and property system, with the development of processes to ensure invoices and
     statements continue to be issued in a seamless and timely fashion.
    Investigate banking options with a preferred interim banking provider secured to ensure
     banking services including EFTPOS facilities were fully functional and compliant on 1January
     2014.
    Reviewed and audited existing store arrangements and establish interim and future stores
     arrangements.
    Reviewed existing procurement processes and establish new system to ensure they are
     compliant and operational at 1 January 2014.
    Financial system module testing and design for key modules such as procure to pay,
     financial assets, property and rating, general ledger, purchase card, contracts, payroll,
     inventory, and works management.
    Review and establishment of a new fees and charges schedule.




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