The Department of Local Government, Sport and Cultural Industries has developed a package of reforms to bolster financial transparency in Local Governments.
The reforms will simplify annual financial reporting, reducing its cost and complexity, while ensuring critical financial information is made available to ratepayers.
Under the changes, Local Governments will be required to publicly disclose all employees’ credit card transactions at Council meetings each month, beginning in September, with the listings noted in the meeting minutes.
In a statement, the Department said that new standardised templates were now available to assist Local Governments in preparing financial statements for the 2022-2023 financial year.
“There is a standard template for larger Councils, and a further simplified template for smaller Councils which generally have less complex financial operations,” the statement said.
“These changes to simplify financial reports have been based on recommendations by the Office of the Auditor General (OAG).
Minister for Local Government, David Michael said the changes would simplify and standardise financial reporting and auditing for all Local Governments, making the reports clearer and more easily understood by ratepayers.
“OAG audits of Local Government financial statements will still be carried out in accordance with Australian Auditing Standards and will remain generally consistent with reporting for State Government Agencies,” Mr Michael said.
“It is critical that Local Government financial information is clear and transparent. Ratepayers must be able to have a clear view into how their Council is spending funds to benefit the community.”
