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Finance

Finance

Local Government in SA manages its finances conservatively under extreme constraints. It has access to one tax, Council Rates, has very low debt and receives an unfair share of State and Federal government funding.

In 2005 the LGA commissioned an Independent Inquiry into the Financial Sustainability of Local Government in SA.  The Inquiry's final report can be found - here.

More information on the Financial Sustainability of Local Government in SA - http://www.lga.sa.gov.au/goto/fsp.

Information to assist Councils in this area can be found below.


Financial Management

There is a continuing evolvement and reform of financial management practices occuring, both directly and indirectly, in Local Government. Recent and current changes and issues include:

  • increased scrutiny by the community;
  • an expectation to do more with less;
  • accrual accounting;
  • National Competition Policy;
  • performance measurement and benchmarking;
  • infrastructure asset management;
  • internal controls; and
  • Governance.

A range of resources have been developed to assist Councils apply good practices in financial management which can be found at www.lga.sa.gov.au/goto/fsp.


What's New

Costing Principles for Local Government (December 2013)

It's vitally important for a Council to know the full, true cost of any service, over its full life. However, it is not easy to calculate the full and complete life-cycle cost of a service.   Finance professionals must take into account all costs: 

  • direct and indirect;
  • fixed and variable;
  • controllable and noncontrollable;

Therefore, the LGA has produced an updated Guidance paper "Costing Principles for Local Government".  

Costing Principles for Local Government(854 kb)


2012 Better Practice Model - Financial Internal Controls

The Better Practice Model - Financial Internal Controls have been prescribed, in Regulations, as the standard by which auditors must assess the internal financial controls of Local Government.

2012 Better Practice Model - Financial Internal Controls 2012%20Better%20Practice%20Model%20-%20Financial%20Internal%20Controls (791 kb)

 

2013 Model Financial Statements for SA

The South Australian Local Government Financial Management Group (SALGFMG) worked with Coalface Software Solutions to develop the set of Model Financial Statements for South Australian Councils for 2013.

2013 Model Financial Statements(1591 kb)


Local Government Reform

In February 2010 the LGA, working collaboratively with the Department of Planning and Local Government, received funding approval from the Australian Government's Local Government Reform Fund towards a comprehensive  "Improving SA Councils' Asset and Financial Management Practices" project. The LGA has underpinned this initiative with organisational changes to showcase an ongoing Local Government Reform agenda.

More information about the LGA's Local Government Reform Program and the "Improving SA Councils' Asset and Financial Management Practices" project can be obtained via the following link: www.lga.sa.gov.au/goto/reform.


Useful links

 

Economic and Finance Projects

Developing a Regional Development Plan - Pilot Program (2013.22)

Economic Stimulus Guidelines

Ensuring LG Services Provision

Fees and Charges set by Statute - Cost Recovery Model

Financial Assistance Grants (FAGS) Review

Financial Management Reporting - Accounting Committee Project

Financial Sustainability Program Implementation

Financial Sustainability Program Implementation 2

Future Library Funding

Impact of Global Financial Crisis on SA Local Government

Local Government Finance and Economic Model to Manage Growth

Local Government Reform Fund - SA Application

Localism: Learning from Federal Nation Building, (Economic Stimulus) Projects

Nation Building and Fiscal Stimulus Package

New Options for Revenue Raising in LG

Raising Awareness of Regional Contributions

Regional Capacity Building Allocation

Regional Development Australia Reform Implementation

Revenue Raising Constraints

Review of State Rating Concessions

Shared Services Implementation Program

Support for Councils to Address Rating Matters

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GPO Box 2693, Adelaide SA 5001 | Phone: 8224 2000 | Fax: 8232 6336 | Email: lgasa@lga.sa.gov.au
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