Resource Library

Local Government Victoria’s suite of 2024 planning and reporting guidance, calculator and templates is now available to support councils in meeting their planning and reporting obligations.

The documents are available at https://www.localgovernment.vic.gov.au/strengthening-councils/sector-guidance-planning-and-reporting.

The link above includes the following documents:

Asset Plan Guidance 2022
Financial Plan 2023-24 to 2032-33
Model Budget 2023-24
Model Financial Report 2022-23
Annual Report Performance Reporting 2022-23
Performance Reporting Framework 2022-23
Performance Reporting Framework 2023-24
Revenue and Rating

Local Government Act 2020

The Local Government Act 2020 is available at www.localgovernment.vic.gov.au

Recent VAGO Updates

VAGO – LG status report – April 2024

VAGO – LG status report – February 2024

Vic Gov Rating Review Table (summary for FinPro) – 29 January 2021

Sample Revenue and Rating Plan 2021

MAV Members Brief #1 – Social and affordable housing July 2021

MAV Members Brief #2 – Social and Affordable Housing

Social Housing and Funding for Local Services – Issues Paper July 2021

MAV WorkCare guidance update – LGV 12 August 2021

Updates required to reflect comparative information in Note 5.8 Leases – LGV 12 August 2021

FOI 101 presentation – South Gippsland Shire Council September 2022

MAV infrastructure pressures summary report – Nov 2022

Council Policies and sample schedules

As part of helping our members, FinPro has pulled together some draft policies. Some of these are examples from specific Council’s – and others have been collated specifically by FinPro Exec members

City-of-Greater-Bendigo-Borrowing-Policy

City-of-Greater-Bendigo-Investment-Policy

City-of-Greater-Bendigo-Pricing-Policy

The list of Council Policies is available to FinPro members only.

Click here to access the FinPro members library.

Statutory Obligations & Compliance Schedule updates Feb 2023 – Golden Plain Shire (as example for FinPro members)

Procurement – New Procurement Policies under the Local Government Act 2020

All councils, are required to comply with S108 & 109 of the Local Government Act 2020 and have an adopted Procurement Policy. The Policy had to be adopted by 31 December 2021 and then be reviewed at least once every four years thereafter.

Under the 2020 Act, Council’s have to establish their own public tender thresholds & exemptions and Council’s must consider opportunities for collaboration. The Act also allows greater powers for Councils to engage in beneficial enterprises or co-operative business opportunities which deliver increased public value. There has been significant collaborative work done with regional groups preparing either one policy or policy guidelines in preparation of their new policies to their council.

Examples

Procurement Policy 2021 – Banyule City Council

Note: The document is split into two sections, with Part A prescribing Banyule’s (and the NRPEN’s) public tendering thresholds and governance requirements and Appendix 2 setting out the Sustainable Procurement Policy with Appendix 2, Part B stipulating our Sustainable Procurement Key Performance Indicators.

Procurement Policy – Greater Bendigo CC

Procurement Policy – Golden Plains Shire Council

Procurement Policy July 2021 – Monash City Council

Reserves Policy, procedure and guidelines

The following guidelines have been prepared by FinPro to be used as a guide when writing a Council’s own Reserves Policy.

Accounting Standards Guidance and Worked Examples – AASB 9, AASB 15, AASB 16 and AASB 1058

The Accounting Standards Working Group, (Comprising FinPro members and staff from LGV and Crowe Horwath), worked together during 2018 and early 2019 to develop a guidance document specific to the Local Government Sector. It was developed by the working group and will be published and issued by Local Government Victoria and will be launched at the FinPro Seminar on Friday 22 February 2019.

The guidance material is to assist the Local Government sector to transition to the new accounting standards in a consistent and practical manner. The Guidance document is to supplement the detail of the Standards themselves; it enables the sector to know what the position is on a number of paragraphs within the standards so that the application can be applied consistently throughout the sector.

The worked examples are in an appendix to the guidance document and provide practical guidance to the overall application of the guidance materials. The Guidance document refers to the examples, so that the sector can have real, relatable examples and assist in interpreting the sectors overall position on particular paragraphs within the standards. The examples have been made simple, in order to easily follow the application, with the aim being that the sector be able to apply such examples in their organisation’s decision making.

Link to Guidance on transition to new accounting standards 2018/19

Other information which may be of value:

FinPro – Sample Position paper AASB 15 1058 16 July 2020

Sample Report to Audit Committee – Model accounts and new accounting standards 2020

Copy of AASB 15 1058 assessment – for FinPro website July 2020