Clear and accurate financial management and reporting is critical for public confidence in local government. Currently, local governments across Western Australia have to comply with the same financial reporting requirements, even though local governments range from less than 200 residents to a population of more than 200,000 people.
New standardised templates will be established for local government financial statements:
All local governments will adopt a short Rates and Revenue Policy. The policy will provide greater
clarity for ratepayers by linking the cost of services and the maintenance of assets (such as roads and recreation facilities) to the setting of rates.
The financial metrics reported on the MyCouncil website will be reviewed and adjusted to ensure they best reflect the underlying financial position of the local government.
New reforms will introduce a requirement that employee credit card statements are to be provided to council at meetings on a monthly basis.
Other changes to the legislation will provide for general improvements for financial management:
The State Government is also considering potential further reform for regional subsidiaries, and other financial and risk management initiatives.
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