MidCoast Council
MidCoast Council has once again met all statutory requirements during an independent financial audit, earning an unqualified result from the NSW Audit Office.
This is the second year running Council has achieved an unqualified audit meaning all requirements have been met.
Each year, all Councils are required to provide a set of financial statements to the NSW Audit Office which set out performance, financial position and cash flows for that financial year.
Council referred the draft statements to the NSW Audit Office for audit ahead of the deadline.
MidCoast Council's Mayor Claire Pontin said it was a great outcome and showed MidCoast Council was again hitting its timelines successfully
"Not only did we again receive an unqualified audit, but the result reflects a concerted effort by Council to provide timely and accurate reporting and the Audit Office has recognised this achievement again, something we are very proud of," she said.
The financial reports include six performance measures and benchmarks set by the Office of Local Government, with MidCoast Council meeting all.
MidCoast Council's Audit Risk and Improvement Committee provides independent assurance and assistance in regard to Council's financial reporting, risk management, internal controls, governance and internal and external audits offered its congratulations to staff for such a positive outcome.
"The Statements show that we finished the year with a $39m surplus. We aim for a balanced budget close to zero, but it is better to finish with a slight surplus rather than a deficit. This is a great outcome given we manage $5bn in community assets."
The Annual Financial Reports are available for viewing on Council's website.
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