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Draft Related Party Disclosures Policy

BACKGROUND

On 22 March 2017 Council resolved to place the draft Related Party Disclosures Policy on public exhibition.


From 1 July 2016, the Australian Accounting Standards Board has determined that Australian Accounting Standard AASB 124 Related Party Disclosures will apply to not-for-profit public sector entities, including local governments.


As part of its annual financial statements for 2016-17 and subsequent financial years, Council will need to disclose key management personnel remuneration (including Mayor and Councillors), related party relationships, transactions and outstanding balances. This information will be audited as part of the annual external audit to be undertaken by the NSW Audit Office.


The policy has been developed to ensure Council meets these disclosure obligations.


EXHIBITION PERIOD

Wednesday 5 April to Tuesday 2 May 2017.


HOW TO ACCESS THE DRAFT POLICY

You are invited to inspect the draft policy by using the link below.


HOW TO MAKE A SUBMISSION

To make a submission, please:
• Submit it by email, post or in person at the Civic Centre during Council’s business hours.
• Quote file number 103/14.
• Include your name and postal address.
• Ensure it is received by Council by 4.30 pm on Tuesday 2 May 2017.


For further information, please contact Governance on (02) 4868 0888.


Draft Related Party Disclosures Policy


Last Updated: April 4th, 2017
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