Intro
LG Alert
The intention of the legislation is to ensure local governments conduct at least one budget review between six and nine months into a financial year.A budget review compares year to date actual results with the adopted or amended budget. It establishes whether a local government is meeting its budget commitments and if any variations are required. The review must:
Regulation 33A(2) and (3) of the FMR states that, within 30 days after a review is carried out, it is required to be submitted to the council. Therefore, if the review date was 31 December 2019, it must be submitted to Council by 30 January 2020. Council considers the review and determines (absolute majority required) whether to accept the review and any recommendations made in the review.In accordance with regulation 33A(4) of the FMR, a copy of the Council endorsed review must be provided to the Department of Local Government, Sport and Cultural Industries within 30 days of its endorsement by council.If prior budget reviews have been undertaken, the Reg 33A review must still cover the period from 1 July and also cover any adjustments made as a result of prior reviews.
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