General Information about council financials are available via the following links:
VGC Datasets – Consultation and Council Data – Local Government Victoria
VAGO dashboard – Results of 2021-22 Audits: Local Government – VAGO
Recent VAGO Updates
Local Government Planning and Reporting Guides and Templates
Local Government Victoria publishes all documents relating to reporting guides and templates, including Model Budgets and Financial Statements.
Practitioners are urged to refer to the LVG Website for updated information.
Both the Model Budget 2022/23 and the Model Financial Reports 2021/22 as also still available for councils, should they wish to refer to these previous documents.
The following documents are available at this link: Sector guidance: planning and reporting (localgovernment.vic.gov.au)
- 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
Local Government Act 2020
The Local Government Act 2020 is available at www.localgovernment.vic.gov.au.
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
The list of Council Policies is available to FinPro members only.
Click here to access the FinPro members library.
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.
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.
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.
Other information which may be of value: