LOCAL GOVERNMENT (COMMUNITY GOVERNMENT AREAS) FINANCE STANDARD 2004

Queensland Consolidated Regulations

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LOCAL GOVERNMENT (COMMUNITY GOVERNMENT AREAS) FINANCE STANDARD 2004

TABLE OF PROVISIONS

Contents

Part 1--Preliminary

1. Short title
2. Commencement
3. Dictionary
4. Reference to provision of Local Government Act 1993 etc.

Part 2--Financial management

Division 1--Policies for financial management

5. Policies to be developed by each community government
6. Policy about contracts for the acquisition of goods and services for less than $10 000
7. Policy about internal audit
8. Policy about an audit committee
9. Policy about borrowings
10. Revenue policy
11. Policy about lending to adult resident of community government area

Division 2--Principles of financial management

12. Principles to be complied with in financial management

Division 3--Accounting manual

13. Community government to keep accounting manual

Division 4--Contracts and tendering

14. Exemptions to requirement to seek tenders or quotations—Local Government Act 1993, s 486(1)(e)
15. Preconditions for establishing a standing offer or preferred supplier arrangement
16. Preconditions for establishing a register of pre-qualified suppliers
17. Procedure for establishing purchasing arrangements

Division 5--Notional GST

18. Certificate about payment of notional GST

Part 3--Corporate and operational plans

Division 1--Corporate plans

19. Requirements of corporate plan—Local Government Act 1993, s 507
20. Assessment of local and regional issues
21. Consultation process used in preparation of plan

Division 2--Operational plans

22. Requirements of operational plans—Local Government Act 1993, s 510

Part 4--Funds and accounting procedures

Division 1--Operating fund

23. Operating fund
24. Separate bank accounts within operating fund
25. Reserves—Local Government Act 1993, s 515

Division 2--Trust fund

26. Trust fund
27. Funds that should not be part of trust fund
28. Funds incorrectly paid into operating fund
29. Reconciliation of trust fund

Part 5--Revenue statement and budget

30. Requirements for revenue statement
31. Amendment of budget
32. Disbursement because of genuine emergency or hardship—Local Government Act 1993, s 519(4)
33. Financial information to be presented to budget meeting—Local Government Act 1993, s 521

Part 6--Accounts

Division 1--Accounting records

34. Systems to support account keeping

Division 2--Non-current assets

35. Register of non-current assets
36. Revaluation of non-current physical assets

Part 7--Annual report

37. Annual report content
38. Note about reserves and roads controlled by community governments

Part 8--Financial statements

39. Period to which financial statements relate
40. Signing of financial statements
41. Certificate for proposed financial statements
42. Certificate for final financial statements
43. Differences between proposed and final financial statements
44. Unaudited financial statements

Part 9--Full cost pricing

Division 1--Preliminary

45. Object of pt 9
46. Application of pt 9

Division 2--Full cost pricing
Subdivision 1--Matters affecting full cost pricing

47. Matters affecting full cost pricing
Subdivision 2--Full cost pricing
48. Application of full cost pricing
49. Different charges for commercial reasons
50. Total costs of carrying on activity
51. Administrative and overhead costs
52. Cost of resources used in carrying on activity
53. Depreciation
54. Equivalents for taxes not otherwise liable to be paid
55. Return on capital
Subdivision 3--Treatment of community service obligations
56. Extra cost for community service obligations to be treated as revenue

Part 10--Commercialisation

Division 1--Preliminary

57. Object of pt 10
58. Application of pt 10

Division 2--Commercialisation
Subdivision 1--Matters affecting commercialisation

59. Matters affecting commercialisation
Subdivision 2--Full cost pricing
60. Application of full cost pricing
61. Different charges for commercial reasons
62. Total costs of carrying on activity
63. Administrative and overhead costs
64. Cost of resources used in carrying on activity
65. Depreciation
66. Return on capital
Subdivision 3--Treatment of community service obligations
67. Extra cost for community service obligations to be treated as revenue
Subdivision 4--Annual performance plan
68. Annual performance plan for each commercial business unit

Part 11--Code of competitive conduct

Division 1--Preliminary

69. Object of pt 11
70. Application of code

Division 2--The code
Subdivision 1--Elements of the code

71. Elements of the code
Subdivision 2--Full cost pricing
72. Application of full cost pricing
73. Different charges for commercial reasons
74. Total costs of carrying on activity
75. Administrative and overhead costs
76. Cost of resources used in carrying on activity
77. Depreciation
78. Equivalents for taxes not otherwise liable to be paid
79. Equivalents for State guarantees on borrowings
80. Return on capital
Subdivision 3--Treatment of community service obligations
81. Extra cost for community service obligations to be treated as revenue
82. Community service obligations not to be part of roads business activities
Subdivision 4--Elimination of, or taking into account, advantages and disadvantages of public ownership
83. Effect of advantages or disadvantages of public ownership
Subdivision 5--Financial reporting
84. Statement in budget
85. Omission of certain matters from statement in budget
86. Statement in annual report
87. Omission of certain matters from statement in annual report

Part 12--Reform of certain water and sewerage services

Division 1--Preliminary

88. Object of pt 12

Division 2--Matters to be complied with
Subdivision 1--Matters to be complied with for relevant business activities

89. Matters to be complied with for relevant business activities

Subdivision 2--Two-part tariffs

90. Utility charges if two-part tariffs applied
Subdivision 3--Consumption as the basis for utility charges for water services

91. Application of sdiv 3
92. Consumption as the basis for utility charges
93. When charges are based on quantity of water supplied
Subdivision 4--Full cost recovery
94. Application of sdiv 4
95. Application of full cost recovery
96. Total costs of carrying on relevant business activity
97. Administrative and overhead costs
98. Cost of resources used in carrying on relevant business activity
99. Depreciation
100. Return on capital
Subdivision 5--Treatment of community service obligations
101. Extra cost for community service obligations to be treated as revenue
Subdivision 6--Identification and disclosure of cross-subsidies between classes of consumers
102. Disclosure of cross-subsidies in annual report
103. Identification and disclosure of cross-subsidies
Subdivision 7--Disclosure of community service obligations
104. Disclosure of community service obligations

Part 13--Repeal

105. Repeal of Community Services (Aboriginal Council) Accounting Standard 2002
SCHEDULE DICTIONARY
Endnotes

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