Lodgement of draft financial statements with your auditor by 30 September 2020
Local governments may be aware that the department is currently consulting with the sector on proposed amendments to the Financial Management Regulations that could affect 2019-20 financial statements.
A webinar was recently hosted by LG Professional to provide further information to the sector on the proposed amendments and potential impacts on financial reporting.
This alert is to advise that financial statements complying with the current requirements can and should be lodged with your auditor by 30 September 2020. Local governments complying with the current requirements do not need to wait for the proposed
amendments to lodge.
If a local government cannot meet the deadline, an application for an extension of time must be lodged with the Minister on or before 30 September 2020. The application form is available in Smart Hub.
If the proposed changes are introduced for 2019-20, local governments will be able update their draft financial statements with any necessary changes if required.
To assist with understanding the proposed changes, the following documents are provided:
1. From the department, an extract from the Regulations in marked-up format, showing how they will look when the amendments are "read in", plus the consultation draft.
- Local Government (Financial Management) Amendment Regulations 2020 (Consultation Draft)
- Pages from Track Change Local Government (Financial Management) Regulations 1996.
Any feedback should submitted via email to lghotline@dlgsc.wa.gov.au by 12 noon Monday 21 September 2020.
The attached papers are consultation drafts only and do not have any status within government.