28Writing off money or assets

28 Writing off money or assets (1) If a council or local government subsidiary is satisfied, on certification in writing from the CEO or chief executive, that money has been misappropriated, or cannot be found, the council or local government subsidiary may authorise the writing off of the relevant amount in the accounts of the council or local government (2) If a council or local government subsidiary is satisfied, on certification in writing from the CEO or chief executive, that an asset has been misappropriated, destroyed, damaged beyond economical repair or cannot be found, the council or local government subsidiary may authorise the writing off of the asset in the accounts of the council or local government subsidiary. (3) Certification from the CEO or chief executive under this regulation must be accompanied by: (a) subject to subregulation (4) – a report detailing the improvements to internal controls to avoid the write off of money or assets of the type detailed in the certificate in the future; and (b) if required to be reported under regulation 27 – a statement that the misappropriation, loss, destruction or damage has been reported to the Police Force of the Northern Territory. (4) The report mentioned in subregulation (3)(a) is not required if an asset has been written-off because of normal wear and tear of the asset.

Local Government (General) Regulations 2021 16