South Australian Current Acts

LOCAL GOVERNMENT ACT 1999 - SECT 127

127—Financial statements

        (1)         A council must prepare for each financial year—

            (a)         financial statements and notes in accordance with standards prescribed by the regulations; and

            (f)         other statements or documentation relating to the financial affairs of the council required by the regulations.

        (2)         The material required under subsection (1)—

            (a)         must be prepared as soon as is reasonably practicable after the end of the relevant financial year and in any event before the prescribed day; and

            (b)         must comply with standards and principles prescribed by the regulations; and

            (c)         must include the information required by the regulations.

        (3)         The statements prepared for each financial year must be audited by the council's auditor.

        (4)         A copy of the audited statements must be submitted by the council to the persons or bodies prescribed by the regulations on or before the day prescribed by the regulations.