Local government guidance: undertaking your next prescribed budget review
Regulation 33A of the Local Government (Financial Management) Regulations now requires local governments to undertake a review of their 2023-24 annual budget no earlier than 31 December 2023 and no later than 29 February 2024.
The review must be submitted to council on or before 31 March 2024.
Council should then determine (by absolute majority) whether to adopt the review, any parts of the review or any recommendations made in the review.
Additional requirements:
- The review must consider the local government’s position at the date of the review and evaluate outcomes for the end of 2023-24 that are forecast in the budget.
- Provide the estimated end-of-year amount for the item adjacent to each item in the annual budget that states an amount.
- Provide an estimated end-of-year amount for any items that did not have an amount stated in the adopted annual budget.
- Provide a copy of the budget review and the budget review item from the unconfirmed council minutes to the department within 14 days of the council meeting.
If you have any questions, please contact the department’s local government financial policy team at LG.accounting@dlgsc.wa.gov.au