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INTEREST RATES for PRESENT VALUE calculations
Government Securities Interest Rates for the calculation of present values
for employee benefits and other discounted cash flow calculations as at 31
December 2011. click here.
For 30 June 2011 - click here.
For previous year rates click here
We wish everyone the best as they enter this challenging period, and will provide all the assistance that we can.
NSW Rates Officer Training
Specialist training for NSW Rates Officers - a three day course covering all aspects of this position.Our next scheduled course will be held in the week 24 - 28 September 2012.
For current expressions of interest received, a course synopsis and registration form, and future course dates and locations, click here.
LONG TERM FINANCIAL PLAN
We are proud to announce that the SALG Financial Management Group Inc. have appointed Coalface as sole distributors of the Long Term Financial Planning model developed to their specifications.This Model is distributed free of charge to all SA Councils, and is being made available to Councils in other States at nominal cost.
For further information and order forms, click here
For development updates, and to check that you are using the latest version, click here
2012 SA Financial Statements templates available soon.
The 2012 Model Statements are scheduled to be sent for Ministerial approval 17 May 2012.
A 2011 Model Statements available for download - click here
click here
2012 NT Financial Statements templates available soon
Target release date 22 June 2012. click here
2012 NSW Financial Statements templates as soon as possible.
AS the Code has not yet been released, it is impossible to provide an estimated date.click here
NSW Annual Statements Award 2010
Congratulations to Lake Macquarie City Council,
For the Judges' comments, and to view the Roll of Honour - past winners and honourable mentions - click here.
SA Annual Statements Training Courses
Our training course schedule for country South Australia for 2012 has now been completed - for further information click here
Leases
As part of the harmonisation between IASs and GAAPs (US), the IASB and FASB are proposing major changes in accounting for leases.Exposure Draft ED 202 is the Australian exposure of their proposals.
To view our submission to the AASB click here
Please note our new telephone numbers:
Phone: (02) 6925 5646Fax: (02) 6925 5647
Income from Non-Exchange Transactions (Taxes and Transfers)
Since AAS 27 first came on the scene, the treatment of grants revenue has been an ongoing bone of contention.This exposure draft gives us a chance to make sure that the AASB gets it right!
To view our submission to the AASB click here
Australian Infrastructure Financial Management Guidelines
IPWEA (Institute of Public Works Engineering Australia) have released these guidelines and we understand that they are now - or soon will be - the required minimum professional standard for use by their members.The guidelines provide straightforward explanations of the accounting implications of the engineering facts, and we think provide a sound link.
For accountants it will be much easier to refer our engineering colleagues to the IPWEA guidelines, than to fossick through the Accounting Standards.
After a quick read, we feel that the accounting contents are quite suitable, and we only have qualms about petty detail that won't affect the broad picture.
We encourage all Councils to ensure that the guidelines are followed. Copies are available from www.ipwea.org.au/AIFMG
They are quite pricey ($590 + post/handling + GST) but, we think, cheap at the price.
We expect that the various Codes, Model Statements, Manuals etc. in different jurisdictions will adopt many of the definitions in years to come.
ARE THE ENGINEERS TELLING ACCOUNTANTS HOW TO DO THEIR JOB? click here
Our 2010 Annual Statements training courses will include sessions on the contents of the guidelines, and the best way to use them.
LAND under ROADS - the saga continues
Councils in Northern Territory, Queensland, South Australia and Western Australia will NOT be recognising land under roads - either acquired before or after 1 July 2008.
Circular 09/25 (released 23 June) now gives New South Wales Councils the option on whether to recognise land under roads
or not.
Consider carefully whether you have "a method of reliable measurement for
fair value of land under roads ... on a sector-wide basis" before making an election to recognise, as it would be embarrassing
to elect to recognise this year, and then reverse it.
Our annual statements templates will make provision for either election.
Our last information for Victoria is that a method of assessing a value for land under roads had been developed but adoption was being delayed due to concerns whether it provided a reliable basis.
We have prepared an analysis of the disclosures made by some NSW Councils for land under roads in their 2009 Statements. click here
ANNUAL FINANCIAL STATEMENTS
Work on our 2011 Annual Financial Statements templates has commenced.
We welcome comments and suggestions for further improvements.
New South Wales
- for further information click here Orders
being accepted now.
There will be a minor delay to our release date (after 9 July) because we can't do so until after the DLG has released its data file to Councils.
We understand that this will not be long delayed.
Northern Territory - click here Orders being accepted now.
Our templates due for release
6 July 2011
South Australia - click here Orders being accepted now..
2011 Model Statements have been signed off by the Minister.
Our templates released 25 May 2011.
NSW RATES ADMINISTRATION CLUEBOOK
Coalface® Cluebooks™ are an entirely new concept in the provision of practical
assistance to Council staff.
References to legislation, regulations, circulars
and case law are located together in logical topic order, to permit you to
quickly get to the heart of the problem and identify the authoritative source.
click
here
us now to keep right up to date