sec.307ARecording and notifying loss of local government asset

### sec.307A Recording and notifying loss of local government asset This section applies if the chief executive officer— is aware of a loss of an asset belonging to the local government that the officer is satisfied is a reportable loss; or reasonably suspects there has been a reportable loss of an asset belonging to the local government; or is aware of a material loss of an asset belonging to the local government. The chief executive officer must keep a written record of the following details about the loss— a description of the asset, including its value; the cause of the loss; the action taken by the local government to deal with the loss, including, for example— action to remedy any weakness in the local government’s operations; or action taken to recover the loss; approval for writing off the loss. If the chief executive officer is satisfied the material loss is also a reportable loss, the officer must notify the following as soon as practicable, but not more than 6 months after the officer becomes aware of the loss— the auditor-general; for a loss resulting from the commission of an offence under the Criminal Code or another Act—a police officer; for a loss resulting from the corrupt conduct of a councillor, local government employee or local government worker—the Crime and Corruption Commission. In this section— material loss , for an asset belonging to a local government, means— for money—a loss of more than $500; or for any other asset—a loss valued by the chief executive officer at more than $1,000. reportable loss , for an asset belonging to the local government, means a loss resulting from— the commission of an offence under the Criminal Code or another Act; or the corrupt conduct of a councillor, local government employee or local government worker; or conduct of a contractor of the local government that would be corrupt conduct if the contractor were a councillor, local government employee or local government worker. s 307A ins 2013 SL No. 10 s 11 sub 2015 SL No. 140 s 6 amd 2018 SL No. 201 s 20 ; 2025 SL No. 161 s 27 (sec.307A-ssec.1) This section applies if the chief executive officer— is aware of a loss of an asset belonging to the local government that the officer is satisfied is a reportable loss; or reasonably suspects there has been a reportable loss of an asset belonging to the local government; or is aware of a material loss of an asset belonging to the local government. (sec.307A-ssec.2) The chief executive officer must keep a written record of the following details about the loss— a description of the asset, including its value; the cause of the loss; the action taken by the local government to deal with the loss, including, for example— action to remedy any weakness in the local government’s operations; or action taken to recover the loss; approval for writing off the loss. (sec.307A-ssec.3) If the chief executive officer is satisfied the material loss is also a reportable loss, the officer must notify the following as soon as practicable, but not more than 6 months after the officer becomes aware of the loss— the auditor-general; for a loss resulting from the commission of an offence under the Criminal Code or another Act—a police officer; for a loss resulting from the corrupt conduct of a councillor, local government employee or local government worker—the Crime and Corruption Commission. (sec.307A-ssec.4) In this section— material loss , for an asset belonging to a local government, means— for money—a loss of more than $500; or for any other asset—a loss valued by the chief executive officer at more than $1,000. reportable loss , for an asset belonging to the local government, means a loss resulting from— the commission of an offence under the Criminal Code or another Act; or the corrupt conduct of a councillor, local government employee or local government worker; or conduct of a contractor of the local government that would be corrupt conduct if the contractor were a councillor, local government employee or local government worker. - (a) is aware of a loss of an asset belonging to the local government that the officer is satisfied is a reportable loss; or - (b) reasonably suspects there has been a reportable loss of an asset belonging to the local government; or - (c) is aware of a material loss of an asset belonging to the local government. - (a) a description of the asset, including its value; - (b) the cause of the loss; - (c) the action taken by the local government to deal with the loss, including, for example— (i) action to remedy any weakness in the local government’s operations; or (ii) action taken to recover the loss; - (i) action to remedy any weakness in the local government’s operations; or - (ii) action taken to recover the loss; - (d) approval for writing off the loss. - (i) action to remedy any weakness in the local government’s operations; or - (ii) action taken to recover the loss; - (a) the auditor-general; - (b) for a loss resulting from the commission of an offence under the Criminal Code or another Act—a police officer; - (c) for a loss resulting from the corrupt conduct of a councillor, local government employee or local government worker—the Crime and Corruption Commission. - (a) for money—a loss of more than $500; or - (b) for any other asset—a loss valued by the chief executive officer at more than $1,000. - (a) the commission of an offence under the Criminal Code or another Act; or - (b) the corrupt conduct of a councillor, local government employee or local government worker; or - (c) conduct of a contractor of the local government that would be corrupt conduct if the contractor were a councillor, local government employee or local government worker.