City of Albany praised for efficient financial reporting

Published on Thursday, 5 October 2023 at 10:07:57 AM

The City of Albany has been named as one of Western Australia’s top 20 Best Practice Local Governments for financial reporting from the Office of the Auditor General for the 2021/2022 period.

This accolade has come out of the Office of the Auditor General’s report of Local Governments across the 2021/2022 financial year that analyses the financial performance of a local government.

A Best Practice honour is measured against five criteria; timeliness of financial statements, quality of financial statements and notes, quality of working papers, resolution of accounting issues and availability of key staff.

The report commends the effort of regional shires who make up the majority of the top 20 with 18 of the Councils coming from outside the metropolitan area of Western Australia.

The City of Albany were also noted for their audit readiness and financial statement timeliness which is a direct result of their attention to detail and diligence and responsible financial management.

Chief Executive Officer Andrew Sharpe said this accolade is a huge win for the City and community and a testament to the dedicated and hard-working City of Albany finance team.

“Being acknowledged when it comes to the City’s responsible management of rates and revenue is incredibly pleasing, and a well-deserved accolade for the City’s finance team,” he said.

“There are 137 local governments in Western Australia, so to make the top 20 when it comes to best practices of our financial processes means we are overachieving in the best possible way.

“Recognised responsible management of the City’s finances is a feather in the cap of the City and should provide reassurance and confidence to our ratepayers that we are financially healthy.”

This was the first year that local governments within the Financial Audit Results – Local Government Report were rated on their financial reporting and financial controls.

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