17Monthly financial reports to council

17 Monthly financial reports to council (1) The CEO must, in each month, give the council a report setting out: (a) the actual income and expenditure of the council for the period from the commencement of the financial year up to the end of the previous month; and (b) the most recently adopted annual budget; and (c) details of any material variances between the most recent actual income and expenditure of the council and the most recently adopted annual budget. (2) The report must also include: (a) details of all cash and investments held by the council (including money held in trust); and (b) the closing cash at bank balance split between tied and untied funds; and (c) a statement on trade debtors and a general indication of the age of the debts owed to the council; and (d) a statement on trade creditors and a general indication of the age of the debts owed by the council; and (e) a statement in relation to the council's payment and reporting obligations for GST, fringe benefits tax, PAYG withholding tax, superannuation and insurance; and

Local Government (General) Regulations 2021 10 (f) other information required by the council. (3) If a council does not hold a meeting in a particular month, the report is to be laid before the council committee performing the council's financial functions under regulation 19 for the particular month. (4) The report must be in the approved form. (5) The report must be accompanied by: (a) a certification, in writing, by the CEO to the council that, to the best of the CEO's knowledge, information and belief: (i) the internal controls implemented by the council are appropriate; and (ii) the council's financial report best reflects the financial affairs of the council; or (b) if the CEO cannot provide the certification – written reasons for not providing the certification.