2.3 ACCOUNTING

What we do

We provide a range of accounting services including preparation of financial returns and claims to government agencies , reconciliations of Council ’ s accounts and management of Council ’ s investments and borrowings .

We also process creditor and debtor accounts and payroll on behalf of all Council services and projects .

What we must do

Australian and Queensland Government Legislation

• Local Government Act 2009

• Local Government Regulation 2012

• Statutory Bodies Financial Arrangements Act 1982

• Statutory Bodies Financial Arrangements Regulation 2007

• Public Sector Ethics Act 1994 Australian Accounting Standards Funding Guidelines Asset Management Plans Asset Management Policy .

Why we do it

As with any business , the keeping of good financial records is key to sound decision making and financial planning , as well as ensuring legislative compliance .

We have both internal and external users of Council ’ s financial information including :

• Queensland Local Government Grants Commission

• Australian Bureau of Statistics

• Australian Taxation Office

• Queensland Treasury Corporation

• Department of Local Government , Racing and Multicultural Affairs .

The Queensland Audit Office ( or their delegate ) audits Council ’ s annual financial statements each year .

Many of the financial returns that are completed impact how much revenue Council collects each year . Increased revenue from these sources reduce the impost on our region ’ s ratepayers .

The preparation of the Queensland Local Government Grants Commission return each year is particularly important as it influences the amount of the financial assistance grant from the federal government .

Our plans for 2021 / 22

Did you know

In 2019 / 20 , our team members processed and reconciled :

95