B2B with a Twist Publication - Work • Stay • Play October Edition Work • Stay • Play April-May 2017 Edition | Page 9

Q. Weren’t the former auditors negligent?
A. It is not appropriate for the Central Coast Council to
comment.
Q. How is the Central Coast Council in a strong
financial and corporate position?
A. There is sufficient cash available to meet commitments and
fund the plan. Council is a massive organisation with huge scale
and a huge asset base to service its community. It has $9.5 billion
of assets to service that community. The asset valuation issues
do not impact on the Council’s capacity to deliver services to the
community.
Q: Are any former or current staff expected to be
investigated over this recent matter?
A. That is not a matter for Council. The focus is on the wellbeing
of Council staff at the present time
Q: Will the financial reports be available online and if
so, which website can I find it?
A. The business paper for that Extraordinary Meeting includes a
copy of those financial reports, and is available at
www.centralcoast.nsw.gov.au
Q. Will the public have an opportunity to view and
comment on the financial reports?
A. Yes – The financial reports are already available to the public
on Council’s website. The Council meeting on 13 March refers
the accounts to two organisations for Audit -Price Waterhouse
Coopers and NSW Audit Office. The formal responses from
those external auditors will be publicly exhibited for seven (7)
days, and the public will be provided with an opportunity to
make submissions. Those audit responses, the financial reports
and any submissions received by Council will be formally tabled
at a future meeting of the Council.
Q. Is the merger of Central Coast on track?
A. Yes, the transformation of local government on the Central
Coast is underway and on track. We are working extremely hard
to sort through day to day tasks to ensure we continue to deliver
the services our community need, want and value.
Q. Is Central Coast Council financially viable?
A. Central Coast Council is in a strong financial and corporate
position. There is sufficient cash available to meet commitments
and fund the plan. It is a massive organisation with huge scale
and a huge asset base to service the Central Coast community.
It has $9.5 billion of assets to service that community. The asset
valuation issues do not impact capacity to deliver services to the
community.
Q. If the performance of Gosford City Council was so
bad, then how can you report a surplus?
A. In simple terms there was more revenue than costs. For
Central Coast Council this means we have inherited an operating
surplus from both former Councils. The good news is that this
will give us a great head start for our works program for 2017/18
and beyond
Q. How do I know my rates have been calculated
correctly? Why do I have to still pay?
A. The issues with the former Gosford financial reports have
had no impact on rate calculation. The issues included the
accurate identification and valuation of infrastructure assets,
and weaknesses in fundamental internal controls. Rates have
been calculated and levied in accordance with all legislative
requirements.
Q. Did external auditor PricewaterhouseCoopers
advise Central Coast Council to seek a further
extension, given the anticipated complexities with its
audits of the financial reports of the former Gosford
City Council for the 2015- 16 reporting period?
A. PricewaterhouseCoopers has noted that Central Coast
Council may need to seek a further extension, given the
anticipated complexities with its audit of the financial reports
of the former Gosford City Council for the 2015-16 reporting
period. The Chief Executive Officer may make a further request
to the Chief Executive of the NSW Office of Local Government
to extend the deadline for adoption of the audited Financial
Statements beyond 31 March 2017.
Q. What computer software was being used for
financial reporting and how long was it being used
for?
A. Civica Authority Enterprise Software. This software was
implemented in 1994. Central Coast Council is currently
undertaking a transformation and will replace both former
Council systems with a new integrated system.
Q: What is the inaccuracy of these balances most
likely to be related to?
A. Inaccuracy related to these balances is most likely to be
related to classification of the income or expense items, or the
validity of expenses. This is documented in the Statement of
Management in the financial report.
www.gosford.nsw.gov.au/docs/default-source/About-council-
documents/fact-sheet---council-report-4-march-2017.
pdf?sfvrsn=0
Q. Have Council’s financial practices been tidied up?
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A. Yes, Prior year errors from the former Gosford City Council
have been corrected and the noted control issues have been
rectified.
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