MINUTES ORDINARY MEETING OF COUNCIL 10 …Ordinary Meeting of Council Minutes - 10 March 2015 13 of...

MURCHISON REGIONAL VERMIN COUNCIL

MINUTES

ORDINARY MEETING OF COUNCIL

10 MARCH 2015

1. DECLARATION OF OPENING / ANNOUNCEMENT OF VISITORS ................... 3

2. RECORD OF ATTENDANCE / APOLOGIES / LEAVE OF ABSENCE ................. 3

3. RESPONSE TO PREVIOUS PUBLIC QUESTIONS TAKEN ON NOTICE ........... 3

4. PUBLIC QUESTION TIME AND ADDRESS BY MEMBERS OF THE PUBLIC .. 3

4.1 Public Question Time .................................................................................... 3 4.2 Address by Members of the Public ................................................................ 3

5. APPLICATIONS FOR LEAVE OF ABSENCE ......................................................... 3

6. DEPUTATIONS / PRESENTATIONS / SUBMISSIONS.......................................... 4

7. CONFIRMATION OF MINUTES OF PREVIOUS MEETING................................. 4

7.1 Minutes of the Ordinary Meeting held on 3 December 2014 ........................ 4

8. ANNOUNCEMENTS BY PRESIDING PERSON WITHOUT DISCUSSION ......... 4

9. PETITIONS.................................................................................................................. 4

10. DECLARATIONS OF INTEREST ............................................................................. 4

11. BUSINESS DEFERRED FROM PREVIOUS MEETING ......................................... 4

12. REPORTS .................................................................................................................... 6

12.1 Cash Position Statement ................................................................................ 6 12.2 Accounts for Payment .................................................................................... 8 12.3 Debtors ......................................................................................................... 10

12.4 Investment Register ..................................................................................... 11 12.5 Statement of Financial Activity ................................................................... 13

12.6 Budget Review to 31 December 2014 ......................................................... 38 12.7 Compliance Audit Return - Calendar Year 2014 ......................................... 55

13. MOTIONS OF WHICH PREVIOUS NOTICE HAS BEEN GIVEN ....................... 65

14. NOTICE OF MOTIONS FOR THE NEXT MEETING............................................ 65

15. CONFIDENTIAL BUSINESS................................................................................... 65

16. LATE AGENDA ITEMS ........................................................................................... 65

17. ELECTED MEMBER MATTERS ............................................................................ 65

18. NEXT MEETING ...................................................................................................... 65

19. CLOSURE OF MEETING ........................................................................................ 65

20. CERTIFICATION BY CHAIRMAN ........................................................................ 66

Ordinary Meeting of Council Minutes - 10 March 2015 2 of 66

Murchison Regional Vermin Council

Minutes for the Ordinary Meeting of Council - 10 March 2015

In Council Chambers, Lot 163 Hepburn Street, Mount Magnet

To commence immediately at the conclusion of the Audit Committee Meeting

1. DECLARATION OF OPENING / ANNOUNCEMENT OF VISITORS

The President, Cr Jason Homewood, opened the meeting at 1:20pm.

2. RECORD OF ATTENDANCE / APOLOGIES / LEAVE OF ABSENCE

Attendance

President Cr Jason Homewood

Deputy President Cr Neil Grinham

Member Cr Carol Hodshon

Member Cr Roger Le Maitre

Member Cr Robert Grinham

Member Cr Alan Bloore

Member Cr Martin King

Member Cr Harvey Nichols

Apologies

Member Cr Peter Clancy

Member Cr Joe O'Brien

Staff

Chief Executive Officer Mr Warren Olsen

Administration Supervisor Ms Ronella Kelly

3. RESPONSE TO PREVIOUS PUBLIC QUESTIONS TAKEN ON NOTICE

Nil.

4. PUBLIC QUESTION TIME AND ADDRESS BY MEMBERS OF THE PUBLIC

4.1 Public Question Time

Nil.

4.2 Address by Members of the Public

Nil.

5. APPLICATIONS FOR LEAVE OF ABSENCE

Nil.


6. DEPUTATIONS / PRESENTATIONS / SUBMISSIONS

Nil.

7. CONFIRMATION OF MINUTES OF PREVIOUS MEETING

7.1 Minutes of the Ordinary Meeting held on 3 December 2014

COUNCIL RESOLUTION

Moved: Cr Roger Le Maitre Seconded: Cr Bob Grinham

That the minutes of the Ordinary Meeting held on 3 December 2014 as circulated be

confirmed as a true and correct record of proceedings.

CARRIED 8/0

8. ANNOUNCEMENTS BY PRESIDING PERSON WITHOUT DISCUSSION

Nil.

9. PETITIONS

Nil.

10. DECLARATIONS OF INTEREST

Nil.

11. BUSINESS DEFERRED FROM PREVIOUS MEETING

Nil.

COUNCIL RESOLUTION

The Chief Executive Officer advised that the Council had established an Audit Committee

in 2012 comprising all members of the Council. However, having reviewed all the

minutes, he could not find a COUNCIL RESOLUTION since the October 2013

establishing an Audit Committee. Advice from the Department of Local Government was

that the COUNCIL RESOLUTION of 2012 was no longer effective as all committees

cease to exist on election day.


That the Murchison Regional Vermin Council Audit Committee be established with a

membership of all Councillors.

CARRIED 8/0


COUNCIL RESOLUTION


That the meeting adjourns at 1:25pm.

CARRIED 8/0

COUNCIL RESOLUTION

Moved: Cr Roger Le Maitre Seconded: Cr Carol Hodshon

That the meeting resumes at 1:45pm.

CARRIED 8/0


12. REPORTS

12.1 Cash Position Statement

File: MRVC

Officer: Finance Manager

Amended By: Nil

Disclosure of Interest: Nil

Meeting Date: 10 March 2015

Comment

The Cash Position Statement is as stated below.

Statement of Cash Position - As at 31 January 2015 $

Balance of Cash Position - As at 1 July 2014 2,050.90

Add - Operating - Revenue

Annual Subsidy 32,675.50

Precepts 70,240.50

Fence Rentals 5,199.51

Credit Interest 1.90

Total – Operating - Revenue $ 108,117.41

Less – Operating - Expenditure

Fence Maintenance -13,672.32

Advertising -369.51

Secretarial Services -6,600.00

Financial/Audit Services -7,951.39

Member Fees -4,492.50

Meeting Expenses -750.00

Communication Expenses -270.00

Insurance -825.00

Legal Expenses -3,434.76

Bank Fees -108.60

Total – Operating – Expenditure -38,474.08

Less - ATO – BAS - April 2014 to June 2014 -56,083.00

Less - ATO – BAS - July 2014 to September 2014 -52,830.00

Add – Capital - Revenue

CLGF 2012/2013 Regional Groups 526,731.70

Less - Capital - Expenditure

Fencing Materials -310,956.76

Clearing & Grading -81,346.67

Field Coordinator -18,370.13

Advertising -1,508.00

CLGF Audit – Year End 30 June 2014 -275.00

Total – Capital – Expenditure -$ 412,456.56

Cash Deposit – At Call

Drawdown - Cash Deposit 27,563.90

Transfer to Cash Deposit -30,000.00

Cash Deposit

Drawdown – Cash Deposit 465,000.00

Transfer to Cash Deposit - CLGF 2012/2013 Regional Groups -526,731.70

Cash Balance - As At 31 January 2015 12,888.57


Consultation

Nil

Statutory Environment

Nil

Policy Implications

Nil

Financial Implications

Nil

Strategic Implications

Nil

Voting Requirements

Simple Majority

COUNCIL RESOLUTION

Moved: Cr Roger Le Maitre Seconded: Cr Alan Bloore

That the Cash Position Statement as at 31 January 2015 be received.

CARRIED 8/0


12.2 Accounts for Payment

File: MRVC


Amended By: Nil



Comment

The accounts for payment list for November 2014, December 2014 and January 2015 are

attached for notation.

Consultation

Nil


Nil

Policy Implications

Nil


Nil


Nil

Voting Requirements

Simple Majority

COUNCIL RESOLUTION

Moved: Cr Bob Grinham Seconded: Cr Carol Hodshon

That payments of accounts for payment list for November 2014, December 2014 and

January 2015 are noted.

CARRIED 8/0


ACCOUNTS PAID

1 November 2014 to 31 January 2015

Date Paid Invoice No Name Particulars Amount $

01/11/2014 Direct CBA Account Service Fee 5.00


21/11/2014 5139 Shire of Mount Magnet Reimbursement –

Advertisement – Meeting Dates

116.66


Advertisement – Quotation

Vermin Fence Maintenance Works

136.19

21/11/2014 1957 Robbro WA Pty Ltd MRVC/11 – Clearing & Grading 67,760.00

28/11/2014 290009255 RSM Bird Cameron Financial Services 2,032.25

28/11/2014 9234 Swagman Roadhouse Catering – Council Lunch 250.00


Freight –Fence Materials

$1819.76 Satellite Phone Account $90.00

1,909.76

28/11/2014 96065605

96070340

Landmark MRVC/10 – Supply of Fencing

Materials-Category 2–Star

Pickets

73,986.00

28/11/2014 100-119978 LGIS Liability Insurance 825.00



19/12/2014 Direct A Bloore Member Fees – Jul 14 to Dec 14 300.00

19/12/2014 Direct N Grinham Member Fees – Jul 14 to Dec 14

plus Deputy Presidents

Allowance

362.50

19/12/2014 Direct H Nichols Member Fees – Jul 14 to Dec 14 150.00

19/12/2014 Direct M King Member Fees – Jul 14 to Dec 14 300.00

19/12/2014 Direct R Grinham Member Fees – Jul 14 to Dec 14 300.00

19/12/2014 Direct J Homewood Member Fees – Jul 14 to Dec 14

plus Presidents Allowance

1150.00

19/12/2014 Direct R LeMaitre Member Fees – Jul 14 to Dec 14 450.00

19/12/2014 Direct C Hodshon Member Fees – Jul 14 to Dec 14 450.00

19/12/2014 Direct J O’Brien Member Fees – Jul 14 to Dec 14 450.00

19/12/2014 1967 Robbro WA Pty Ltd MRVC/11 – Clearing & Grading

– Additional Works

13,586.67

19/12/2014 490 Murchison Aviation Field Co-Ordinator to 10 Dec

2014

6,299.15


08/01/2015 80107 McLeods Legal Advice re Imposing Fence

Rental Fees & Charges

3,434.76

08/01/2015 96106187 Landmark MRVC/10 – Supply of Fencing

Materials-Category 2–Star

Pickets

8,162.00

TOTAL 182,428.54


12.3 Debtors

File: MRVC


Amended By: Nil



Comment

Outstanding Debtors - As at 31 January 2015

Outstanding Current Fence Rental $ 2,310.51

Outstanding Previous Years Fence Rental $ 6,213.57

Recovery Expenses $ 249.29

Total Amount Outstanding $ 8,773.37

Details of outstanding debtors are available to Councillors as a separate document.

Consultation

Nil


Nil

Policy Implications

Nil


Nil


Nil

Voting Requirements

Simple Majority

COUNCIL RESOLUTION

Moved: Cr Carol Hodshon Seconded: Cr Roger Le Maitre

That the outstanding Debtors Report be received.

CARRIED 8/0


12.4 Investment Register

File: MRVC


Amended By: Nil



Comment

The Investment Register is attached for notation.

Consultation

Nil


Nil

Policy Implications

Nil


Nil


Nil

Voting Requirements

Simple Majority

COUNCIL RESOLUTION

Moved: Cr Bob Grinham Seconded: Cr Martin King

That the Investment Register is noted.

CARRIED 8/0


At Call 2.450% 36,318.04 1,278.93 99,947.45 -27,563.90 109,980.52

At Call 2.450% 10,000.00 1,720.11 530,600.80 -479,090.75 63,230.16

2/03/2015 2.490% 589,112.51 9,969.94 -55,856.70 543,225.75

- 3,869.10 526,731.70 -530,600.80 -

TOTAL 16,838.08$ 1,157,279.95$ 1,093,112.15-$ 716,436.43$

OPERATING

CAPITAL

CAPITAL

CAPITAL

INVESTMENT REGISTER

01 JULY 2014 TO 31 JANUARY 2015

Commonwealth Bank of Australia - Cash Deposit Account Number 36558508

Maturity Date Interest Rate Opening Balance Interest Earnt to 31.01.2015

Transfers to Investments

Transfers from Investments

Closing Balance 31.01.2015


12.5 Statement of Financial Activity

File: MRVC

Officer: Warren Olsen - CEO

Amended By: Nil



Application

To review the Statement of Financial Activity to 31 January 2015.

Background The attached Statement of Financial Activity to 31 January 2015 has been prepared by

RSM Bird Cameron.

Consultation

Mr Travis Bate – RSM Bird Cameron


Nil

Policy Implications

Nil


Nil


Nil

Voting Requirements

Simple Majority

COUNCIL RESOLUTION

Moved: Cr Roger Le Maitre Seconded: Cr Martin King

That the Statement of Financial Activity to 31 January 2015 be adopted.

CARRIED 8/0


RSM Bird Cameron

Level 1, 12 Bayly Street Geraldton WA 6530

PO Box 61 Geraldton WA 6531

T +61 8 9920 7400 F +61 8 9920 7450

www.rsmi.com.au

Liability limited by a scheme approved under Professional Standards Legislation

Birdanco Nominees Pty Ltd ABN 33 009 321 377 Practising as RSM Bird Cameron ABN 65 319 382 479

Major Offices in: Perth, Sydney, Melbourne, Adelaide and Canberra

RSM Bird Cameron is an independent member firm of RSM International, an affiliation of independent accounting and consulting firms. RSM International is the name given to a network of independent accounting and consulting firms each of which practices in its own right. RSM International does not exist in any jurisdiction as a separate legal entity.

Compilation Report

To the Council

Murchison Region Vermin Council

Scope

We have compiled the accompanying special purpose financial statements.

The specific purpose for which the special purpose financial report has been prepared is to provide information

relating to the financial performance and financial position of the Shire that satisfies the information needs of the

Council and the Local Government Act 1995 and associated regulations.

The responsibility of the Murchison Region Vermin Council

The Murchison Region Vermin Council (MRVC) is solely responsible for the information contained in the special

purpose financial report and have determined that the accounting policies used are consistent and are appropriate

to satisfy the requirements of the Council and the Local Government Act 1995 and associated regulations.

Our responsibility

On the basis of information provided by the MRVC, we have compiled the accompanying special purpose

financial statements.

Our procedures use accounting expertise to collect, classify and summarise the financial information, which the

Management provided, into a financial report. Our procedures do not include any verification or validation

procedures. No audit or review has been performed and accordingly no assurance is expressed.

To the extent permitted by law, we do not accept liability for any loss or damage which any person, other than the

MRVC, may suffer arising from negligence on our part. No person should rely on the report without having an

audit or review conducted.

This report was prepared for the benefit of the Council of the MRVC and the purpose identified above. We do not

accept responsibility to any other person for the content of the report.

Signed at GERALDTON RSM BIRD CAMERON

Chartered Accountants

Date 26 February 2015 RSM BIRD CAMERON


Appendix A: Issues Noted in Preparation of Financial Report

We noted the following issues during the preparation of the financial statements which we wish to bring to your

attention:

Format of Report

The format of the Financial Statement is consistent with that used previously with the Council. We accept no

responsibility for the Financial Statements compliance or otherwise with the requirements of the Local

Government Act 1995 and associated regulations.

Fixed Assets, Depreciation and Profit / Loss on Sale of Asset

Depreciation expense is brought to account for the MRVC at the 30 June and is not reflected in these financial

statements..



FINANCIAL REPORT

For the Period 1 July 2014 to 31 January 2015

Local Government Act 1995

Local Government (Financial Management) Regulations 1996

This report should be read in conjunction with the notes to the accounts


Table of Contents

Income Statement by Nature and Type

Income Statement by Statutory Reporting Program

Statement of Financial Position at 31 January 2015

Note 1 Significant Accounting Policies

MYOB "Profit & Loss Statement" 1 July 2014 to 31 January 2015

MYOB "Balance Sheet" at 31 January 2015

MYOB "GST Detail" Report Year to 31 January 2015

MYOB "Bank Register" Report Year to 31 January 2015


Jan-15 2015 Jan-14$ Budget $

$REVENUES FROM ORDINARY ACTIVITIESSubsidy-Meekatharra Rangelands 29,705 29,705 31,724Fees and Charges 70,047 70,047 68,007Interest Earnings 16,840 15,000 1,124

116,592 114,752 100,855

EXPENSES FROM ORDINARY ACTIVITIESMaterials and Contracts (31,315) (89,752) (36,435)Depreciation - (49,693) -Other Expenditure - - -

(31,315) (139,445) (36,435)

REVENUES FROM ORDINARY ACTIVITIESNon Operating Grants 478,847 478,847 -

478,847 478,847 -

NET RESULT 564,125 454,154 64,419

Jan-15 2015 Oct-13$ Budget $

$REVENUES FROM ORDINARY ACTIVITIESEconomic Services 116,592 114,752 100,855

116,592 114,752 100,855

EXPENSES FROM ORDINARY ACTIVITIESEXCLUDING BORROWING COSTS EXPENSEGovernance (24,464) (56,462) (30,490)Economic Services (6,851) (82,983) (5,945)

(31,315) (139,445) (36,435)

REVENUES FROM ORDINARY ACTIVITIESNon Operating Grants 478,847 478,847 -

478,847 478,847 -

NET RESULT 564,125 454,154 64,419

This statement is to be read in conjunction with the accompanying notes.

By ProgramFor the Period 1 July 2014 to 31 January 2015

INCOME STATEMENT

Murchison Region Vermin CouncilINCOME STATEMENTBy Nature and Type




NOTE Jan-15 Jan-14$ $

CURRENT ASSETSCash and Cash Equivalents 729,325 66,892Trade and Other Receivables 3,396 3,860Inventories 10,060 620,220TOTAL CURRENT ASSETS 742,782 690,972

NON-CURRENT ASSETSInfrastructure 1,976,242 1,023,930TOTAL NON-CURRENT ASSETS 1,976,242 1,023,930

TOTAL ASSETS 2,719,024 1,714,902

CURRENT LIABILITIESTrade and Other Payables (35,346) 6,210TOTAL CURRENT LIABILITIES (35,346) 6,210

TOTAL LIABILITIES (35,346) 6,210

NET ASSETS 2,754,370 1,708,692

EQUITYEquity 2,754,370 1,708,692TOTAL EQUITY 2,754,370 1,708,692

Murchison Region Vermin CouncilSTATEMENT OF FINANCIAL POSITION



1. SIGNIFICANT ACCOUNTING POLICIESThe significant accounting policies which have been adopted in the preparation of this financialreport are:

(a) Basis of Preparation

The report has also been prepared on the accrual basis and is based on historical costs, modified, whereapplicable, by the measurement at fair value of the selected non-current assets, financial assetsand liabilities.

Critical Accounting Estimates

(b) The Local Government Reporting EntityAll Funds through which the Council controls resources to carry on its functions have beenincluded in the financial statements forming part of this financial report.

In the process of reporting on the local government as a single unit, all transactions and balancesbetween those funds (for example, loans and transfers between Funds) have been eliminated.

(c) Goods and Services TaxIn accordance with recommended practice, revenues, expenses and assets capitalised are stated netof any GST recoverable. Receivables and payables in the statement of financial position are statedinclusive of applicable GST.

(d) Cash and Cash Equivalents

(e) Trade and Other Receivables

Bank overdrafts are shown as short term borrowings in current liabilities on the statement of financial position.

Collectability of trade and other receivables is reviewed on an ongoing basis. Debts that are known to be uncollectible are written off when identified. An allowance for doubtful debts is raised when there is objective evidence that they will not be collectible.

Cash and cash equivalents include cash on hand, cash at bank, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value and bank overdrafts.

Murchison Region Vermin CouncilNOTES TO AND FORMING PART OF THE FINANCIAL REPORT


The financial report is a general purpose financial statement which has been prepared in accordance with Australian Accounting Standards (as they apply to local governments and not-for-profit entities), Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board, the local Government Act 1995 and accompanying regulations.

The preparation of a financial report in conformity with Australian Accounting Standards requires management to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets and liabilities, income and expenses.

The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances; the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.


1. SIGNIFICANT ACCOUNTING POLICIES (Continued)

(f) Inventories

General

Land Held for Resale

Land purchased for development and/or resale is valued at the lower of cost and net realisablevalue. Cost includes the cost of acquisition, development, borrowing costs and holding costsuntil Finance costs and holding charges incurred after development is completed are expensed.

Revenue arising from the sale of property is recognised in the statement of comprehensive incomeas at the time of signing an unconditional contract of sale.

Land held for resale is classified as current except where it is held as non-current based on Council's intentionto release for sale.

(g) Fixed Assets

Initial Recognition

Revaluation

Certain asset classes may be revalued on a regular basis such that the carrying values are not materiallydifferent from fair value. For infrastructure and other asset classes where no active market exists, fairvalue is determined to be the current replacement cost of an asset less, where applicable, accumulateddepreciation calculated on the basis of such cost to reflect the already consumed or expired futureeconomic benefits of the asset.

Those assets carried at a revalued amount, being their fair value at the date of revaluation less anysubsequent accumulated depreciation and accumulated impairment losses, are to be revalued withsufficient regularity to ensure the carrying amount does not differ materially from that determined usingfair value at reporting date.



Inventories are measured at the lower of cost and net realisable value.

Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

Each class of fixed assets is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation or impairment losses.

All assets are initially recognised at cost. Cost is determined as the fair value of the assets given as consideration plus costs incidental to the acquisition. For assets acquired at no cost or for nominal consideration, cost is determined as fair value at the date of acquisition. The cost of non-current assets constructed by the Council includes the cost of all materials used in construction, direct labour on the project and an appropriate proportion of variable and fixed overhead.

Increases in the carrying amount arising on revaluation of assets are credited to a revaluation surplus in equity. Decreases that offset previous increases in the same asset are charged against fair value reserves directly in equity; all other decreases are charged to the statement of comprehensive income.

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.



(g) Fixed Assets (Continued)

Depreciation of Non-Current Assets (Continued)

Depreciation is recognised on a straight-line basis, using rates which are reviewed each reportingperiod. Major depreciation periods are:

Fencing 50 yearsPlant and Equipment 10 years

Capitalisation Threshold

(h) Financial Instruments

Initial Recognition and Measurement

Classification and Subsequent Measurement

techniques are adopted.

NOTES TO AND FORMING PART OF THE FINANCIAL REPORTFor the Period 1 July 2014 to 31 January 2015

An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and losses are included in the statement of comprehensive income. When revalued assets are sold, amounts included in the revaluation surplus relating to that asset are transferred to retained earnings.

Expenditure on items of equipment under $2,000 is not capitalised. Rather, it is recorded on an asset inventory listing.

Financial assets and financial liabilities are recognised when the Council becomes a party to the contractual provisions to the instrument. For financial assets, this is equivalent to the date that the Council commits itself to either the purchase or sale of the asset (i.e. trade date accounting is adopted).

Financial instruments are initially measured at fair value plus transaction costs, except where the instrument is classified 'at fair value through profit or loss', in which case transaction costs are expensed to profit or loss immediately.

Financial instruments are subsequently measured at fair value, amortised cost using the effective interest rate method or at cost.

Fair value represents the amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other




(h) Financial Instruments (Continued)

Classification and Subsequent Measurement (Continued)

(i) Financial assets at fair value through profit and loss

(ii) Loans and receivables

(iii) Held-to-maturity investments

If the Council were to sell other than an insignificant amount of held-to-maturity financial assets, the whole category would be tainted and reclassified as available-for-sale.

Amortised cost is calculated as:

(a) the amount in which the financial asset or financial liability is measured at initial recognition;

(b) less principal repayments;

(c) plus or minus the cumulative amortisation of the difference, if any, between the amount initially

recognised and the maturity amount calculated using the effective interest rate method; and

(d) less any reduction for impairment.

The effective interest rate method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payments or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying value with a consequential recognition of an income or expense in profit or loss.

Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short term. Derivatives are classified as held for trading unless they are designated as hedges. Assets in this category are classified as current assets.

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost.

Loans and receivables are included in current assets, except for those which are not expected to mature within 12 months after the end of the reporting period (classified as non-current assets).

Held-to-maturity investments are non-derivative financial assets with fixed maturities and fixed or determinable payments and fixed maturities that the Council’s management has the positive intention and ability to hold to maturity.

Held-to-maturity financial assets are included in non-current assets, except for those which are expected to mature within 12 months after the end of the reporting period (classified as current assets).







(iv) Available-for-sale financial assets

(v) Financial liabilities

Impairment

(i) Estimation of Fair Value

The nominal value less estimated credit adjustments of trade receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Council for similar financial instruments.



Available-for-sale financial assets, are non-derivative financial assets that are either not suitable to be classified into other categories of financial assets due to their nature, or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable.

Available-for-sale financial assets are included in non-current assets, except for those which are expected to mature within 12 months after the end of the reporting period (classified as current assets).

Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost.

At the end of each reporting period, the Council assesses whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether impairment has arisen. Impairment losses are recognised in the statement of comprehensive income.

The fair value of financial assets and financial liabilities must be estimated for recognition and measurement or for disclosure purposes.

The fair value of financial instruments traded in active markets is based on quoted market prices at the reporting date.

The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Council uses a variety of methods and makes assumptions that are based on market conditions existing at each reporting date. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models making maximum use of market inputs and relying as little as possible on entity-specific inputs.

Quoted market prices or dealer quotes for similar instruments are used for long-term debt instruments held. Other techniques, such as estimated discounted cash flows, are used to determine fair value for the remaining financial instruments.



(j) ImpairmentIn accordance with Australian Accounting Standards the Council's assets, other than inventories,are assessed at each reporting date to determine whether there is any indication they may be impaired.

Where such an indication exists, an estimate of the recoverable amount of the asset is madein accordance with AASB 136 'Impairment of Assets' and appropriate adjustments made.

An impairment loss is recognised whenever the carrying amount of an asset or its cash-generating unitexceeds its recoverable amount. Impairment losses are recognised in the statement of comprehensive income.

For non-cash generating assets such as roads, drains, public buildings and the like, value in use isrepresented by the depreciated replacement cost of the asset.

(k) Trade and Other PayablesTrade and other payables represent liabilities for goods and services provided to the Councilprior to the end of the financial year that are unpaid and arise when the Council becomesobliged to make future payments in respect of the purchase of these goods and services.The amounts are unsecured and are usually paid within 30 days of recognition.

(l) Employee BenefitsThe provisions for employee benefits relates to amounts expected to be paid for long serviceleave, annual leave, wages and salaries and are calculated as follows:

(i) Wages, Salaries, Annual Leave and Long Service Leave (Short-term Benefits)The provision for employees’ benefits to wages, salaries, annual leave and long service leaveexpected to be settled within 12 months represents the amount the Council has a presentobligation to pay resulting from employees services provided to reporting date. The provision hasbeen calculated at nominal amounts based on remuneration rates the Council expects to payand includes related on-costs.

(ii) Long Service Leave (Long-term Benefits)

(m) Borrowing CostsBorrowing costs are recognised as an expense when incurred except where they are directlyattributable to the acquisition, construction or production of a qualifying asset. Where this isthe case, they are capitalised as part of the cost of the particular asset.





(n) ProvisionsProvisions are recognised when:

a) the Council has a present legal or constructive obligation as a result of past events; b) for which it is probable that an outflow of economic benefits will result to settle the obligation; and c) that outflow can be reliably measured.

Provisions are not recognised for future operating losses.

(o) Joint VentureThe Council does not have any interest in a joint venture.

(p) Rates, Grants, Donations and Other ContributionsRates, grants, donations and other contributions are recognised as revenues when the localgovernment obtains control over the assets comprising the contributions. Control over assetsacquired from rates is obtained at the commencement of the rating period or, where earlier, uponreceipt of the rates.

Where contributions recognised as revenues during the reporting period were obtained on thecondition that they be expended in a particular manner or used over a particular period, and thoseconditions were undischarged as at the reporting date, the nature of and amounts pertaining tothose undischarged conditions are disclosed in Note 2(c). That note also discloses the amountof contributions recognised as revenues in a previous reporting period which were obtained inrespect of the local government's operation for the current reporting period.

(q) Superannuation

(r) Current and Non-Current Classification

(s) Rounding Off FiguresAll figures shown in this annual financial report, other than a rate in the dollar, are rounded to thenearest dollar.

(t) Comparative FiguresWhere required, comparative figures have been adjusted to conform with changes in presentationfor the current financial year.

(u) Budget Comparative FiguresUnless otherwise stated, the budget comparative figures shown in this annual financial report relate tothe original budget estimate for the relevant item of disclosure.

Provisions are measured using the best estimate of the amounts required to settle the obligation at the end of the reporting period.

The Council contributes to a number of superannuation funds on behalf of employees.

In the determination of whether an asset or liability is current or non-current, consideration is given to the time when each asset or liability is expected to be settled. The asset or liability is classified as current if it is expected to be settled within the next 12 months, being the Council’s operational cycle. In the case of liabilities where the Council does not have the unconditional right to defer settlement beyond 12 months, such as vested long service leave, the liability is classified as current even if not expected to be settled within the next 12 months. Inventories held for trading are classified as current even if not expected to be realised in the next 12 months except for land held for resale where it is held as non-current based on Council’s intentions to release for sale.




NOTES TO AND FORMING PART OF THE FINANCIAL REPORT


(w) New Accounting Standards and Interpretations for Application in Future Periods

Title and Topic Issued Applicable (*) Impact

(i) AASB 9 – Financial

InstrumentsDecember 2009 01 January 2013 Nil – The objective of this Standard is to improve and

simplify the approach for classification and

measurement of financial assets compared with the

requirements of AASB 139. Given the nature of the

financial assets of the Council, it is not anticipated the

standard will have any material effect.

(ii) AASB 124 – Related Party

DisclosuresDecember 2009 01 January 2011 Nil – It is not anticipated the Council will have any

related parties as defined by the Standard.

(iii) AASB 1053 - Application of

Tiers of Australian Accounting

Standards

June 2010 01 July 2013Nil - Due to its nature and statutory requirements the

Council will be deemed a Tier 1 entity and will continue

to prepare general purpose financial statements.

(iv) AASB 2009 -12 Amendments

to Australian Accounting

Standards

[AASB 5, 8, 108, 110, 112,

119, 133, 137, 139, 1023 &

1031 and Interpretations 2, 4,

16, 1039 & 1052]

December 2009 01 January 2011 Nil – The revisions embodied in this standard relate to

standards which do not apply to local government (i.e.

AASB8) or are largely editorial in nature and will have

minimal effect (if any) on the accounting practices of the

Council.

(v) AASB 2009– 11 Amendments


Standards arising from AASB

9

December 2009 01 January 2013 Nil – The revisions embodied in this standard give effect

to the consequential changes arising from the issuance

of AASB 9 which is not anticipated to have any material

effect on the Council (refer (i) above).[AASB 1, 3, 4, 5, 7, 101, 102,

108, 112, 118, 121, 127, 128,

131, 132, 136, 139, 1023 &

1038 and Interpretations 10 &

12)

(vi) AASB 2010 - 2 Amendments


Standards arising from

Reduced Disclosure

Requirements

[AASB 1, 2, 3, 5, 7, 8, 101,

102, 107, 108, 110, 111, 112,

116, 117, 119, 121, 123, 124,

127, 128, 131, 133, 134, 136,

137, 138, 140, 141, 1050, &


5, 15, 17, 127, 129 & 1052]

June 2010 01 July 2013 Nil - None of these amendments will have any effect on

the financial report as the standard does not apply in the

case of general purpose financial statements.

(vii) AASB 2010 - 4 Further

Amendments to Australian

Accounting Standards arising

from the Annual Improvements

Project [AASB 1, 7, 101, 134,

and Interpretation 13]

June 2010 01 January 2011 Nil - The revisions are part of the AASB's annual

improvement project to help ensure consistency with

presentation, recognition and measurement criteria of

IFRSs. It is not anticipated these will have any effect on

the Council.



Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet effective have not been adopted by the Council for the annual reporting period ending 30 June 2011.

Council’s assessment of these new standards and interpretations is set out below:




(w) New Accounting Standards and Interpretations for Application in Future Periods (Continued)


(viii) AASB 2010 - 5 Amendments


Standards

[AASB 1, 3, 4, 5, 101, 107,

112, 118, 119, 121, 132, 133,

134, 137, 139, 140, 1023 &

1038 and Interpretations 112,

115, 127, 132 & 1042]

October 2010 01 January 2011 Nil - The revisions embodied in this standard are largely

editorial in nature or relate to standards not applicable to

the Council and will have minimal effect (if any) on the

accounting practices of the Council.

(ix) AASB 2010 - 6 Amendments


Standards - Disclosures on

Transfers of Financial Assets

[AASB 1 & 7]

November 2010 01 July 2011 Nil - The revisions embodied in this standard amend

disclosures required on transfers of financial assets.

The Council is not expected to have any qualifying

transfers.

(x) AASB 2010 – 7 Amendments


Standards arising from AASB

9 (December 2010)




effect on the Council (refer (i) above).

[AASB 1, 3, 4, 5, 7, 101, 102,

108, 112, 118, 121, 127, 128,

131, 132, 136, 139, 1023 &


12)

(xi) AASB 2010 - 8 Amendments


Standards - Deferred Tax:

Recovery of Underlying Assets

[AASB 1 & 7]

December 2010 01 January 2012 Nil - None of these amendments will have any effect on

the financial report as none of the topics are relevant to

the operations of the Council.

AASB 2010 - 9 Amendments


Standards - Severe

Hyperinflation and Removal of

Fixed Dates for First-time

Adopters

[AASB 1]

December 2010 01 July 2011 Nil - None of these amendments will have any effect on



AASB 2009– 14 Amendments

to Australian Interpretations –

Prepayments of a Minimum

Funding Requirement

[AASB Interpretation 14]

December 2009 01 January 2011

AASB 2010 - 10 Further


Accounting Standards -

Removal of Fixed Dates for

First-time Adopters [AASB

2009 - 11 & 2010 - 7]


Notes:

(*) Applicable to reporting periods commencing on or after the given date.






(x) Adoption of New and Revised Accounting Standards

AASB 2009 - 5

AASB 2009 - 8

AASB 2009 - 10

AASB 2009 - 13

AASB 2010 - 1

AASB 2010 - 3

Interpretation 19


During the current year, the Council adopted all of the new and revised Australian Accounting Standards and Interpretations which became

mandatory and which were applicable to its operations.

The standards adopted had a minimal effect on the accounting and reporting practices of the Council as they were either largely editorial in

nature, were revisions to help ensure consistency with presentation, recognition and measurement criteria of IFRSs or related to topics not

relevant to operations.


These new and revised standards were:


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Profit & Loss StatementJuly 2014 through January 2015

Income

General Purpose Funds $29,705.00

Grant Funding $478,847.00

Precepts $63,855.00

Rental Fences $6,192.36

Total Income $578,599.36

Cost of Sales

Gross Profit $578,599.36

Expenses

Bank Fees $108.60

Administration $6,106.05

Insurance $750.00

Legal Accounting Audit $6,851.05

Fence Maintenance $12,429.38

Meeting Fees $3,600.00

Meeting Expenses $681.81

Presidents Allowance $312.50

Telephone $245.46

Sundry Expenses $229.86

Total Expenses $31,314.71

Operating Profit $547,284.65

Other Income

Interest Income $16,839.98

Total Other Income $16,839.98

Other Expenses

Net Surplus / (Deficit) $564,124.63

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Balance SheetAs of January 2015

Assets

Current Assets

Cheque Account $12,888.57

Cash Deposit Account $716,436.43

Receivables $8,773.36

Provision for Doubtful Debts ($5,377.15)

Inventory $10,060.45

Total Current Assets $742,781.66

Property & Equipment

Plant and Equipment

Plant and Equipment at Cost $9,119.00

Plant and Equipment Accum Dep ($9,119.00)

Total Plant and Equipment $0.00

Fence Infrastructure

Infrastructure Assets at Cost $3,127,393.00

Infrastructure Asset Accum Dep ($3,127,393.06)

Total Fence Infrastructure ($0.06)

Fence Works

Fence Works at Cost $2,025,540.72

Fence Works Acumm Dep ($49,298.62)

Total Property & Equipment $1,976,242.04

Total Assets $2,719,023.70

Liabilities

Current Liabilities

Trade Creditors $0.00

Tax Liabilities

GST Collected $251,106.47

GST Paid ($286,452.96)

Total Tax Liabilities ($35,346.49)

Total Current Liabilities ($35,346.49)

Total Liabilities ($35,346.49)

Net Assets $2,754,370.19

Equity

Retained Earnings $2,190,245.56

Current Year Surplus/Deficit $564,124.63

Total Equity $2,754,370.19

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Balance Sheet [Last Year Analysis]January 2015

This Year Last Year $ Difference % Difference

Assets

Current Assets

Cheque Account $12,888.57 $1,494.65 $11,393.92 762.30%

Cash Deposit Account $716,436.43 $65,397.37 $651,039.06 995.50%

Receivables $8,773.36 $9,236.66 ($463.30) -5.00%

Provision for Doubtful Debts -$5,377.15 -$5,377.15 $0.00 0.00%

Inventory $10,060.45 $620,220.15 ($610,159.70) -98.40%

Total Current Assets $742,781.66 $690,971.68 $51,809.98 7.50%

Property & Equipment

Plant and Equipment

Plant and Equipment at Cost $9,119.00 $9,119.00 $0.00 0.00%

Plant and Equipment Accum Dep -$9,119.00 -$9,119.00 $0.00 0.00%

Total Plant and Equipment $0.00 $0.00 $0.00 NA

Fence Infrastructure

Infrastructure Assets at Cost $3,127,393.00 $3,127,393.00 $0.00 0.00%

Infrastructure Asset Accum Dep -$3,127,393.06 -$3,127,393.06 $0.00 0.00%

Total Fence Infrastructure -$0.06 -$0.06 $0.00 0.00%

Fence Works

Fence Works at Cost $2,025,540.72 $1,040,221.44 $985,319.28 94.70%

Fence Works Acumm Dep -$49,298.62 -$16,291.00 ($33,007.62) -202.60%

Total Property & Equipment $1,976,242.04 $1,023,930.38 $952,311.66 93.00%

Total Assets $2,719,023.70 $1,714,902.06 $1,004,121.64 58.60%

Liabilities

Current Liabilities

Trade Creditors $0.00 $7,424.50 ($7,424.50) -100.00%

Tax Liabilities

GST Collected $251,106.47 $190,362.55 $60,743.92 31.90%

GST Paid -$286,452.96 -$191,577.11 ($94,875.85) -49.50%

Total Tax Liabilities -$35,346.49 -$1,214.56 ($34,131.93) -2810.20%

Total Current Liabilities -$35,346.49 $6,209.94 ($41,556.43) -669.20%

Total Liabilities -$35,346.49 $6,209.94 ($41,556.43) -669.20%

Net Assets $2,754,370.19 $1,708,692.12 $1,045,678.07 61.20%

Equity

Retained Earnings $2,190,245.56 $1,644,272.64 $545,972.92 33.20%

Current Year Surplus/Deficit $564,124.63 $64,419.48 $499,705.15 775.70%

Total Equity $2,754,370.19 $1,708,692.12 $1,045,678.07 61.20%

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GST [Detail - Cash]01/07/2014 To 31/01/2015

Date ID# Name Rate Sale Value Purchase Value Tax Collected Tax Paid

CAP Capital Acquisitions

31/07/2014 EFT Tenderlink 10.00% $165.00 $15.00

31/07/2014 EFT Tenderlink 10.00% $165.00 $15.00

31/07/2014 EFT Murchison Aviation 10.00% $1,650.00 $150.00



31/07/2014 EFT Anderson Munro & Wyllie 10.00% $275.00 $25.00

08/01/2014 EFT Shire of Mount Magnet 10.00% $172.17 $15.65





31/10/2014 EFT Southern Wire 10.00% $9,159.15 $832.65

31/10/2014 EFT Southern Wire 10.00% $56,811.70 $5,164.70

31/10/2014 EFT Southern Wire 10.00% $157,895.10 $14,354.10


21/11/2014 EFT Robbro WA Pty Ltd 10.00% $67,760.00 $6,160.00

28/11/2014 EFT Shire of Mount Magnet 10.00% $1,819.76 $165.43

19/12/2014 459 Landmark Operations Limited 10.00% $3,894.00 $354.00

19/12/2014 459 Landmark Operations Limited 10.00% $70,092.00 $6,372.00


19/12/2014 EFT Robbro WA Pty Ltd 10.00% $13,586.67 $1,235.15

01/08/2015 EFT Landmark Operations Limited 10.00% $8,162.00 $742.00

Total: $0.00 $410,266.88 $0.00 $37,296.98

FRE GST Free

07/01/2014 EFT R Le Maitre 0.00% $290.00 $0.00

Total: $0.00 $290.00 $0.00 $0.00

GST General

31/07/2014 CR000188 Payment; Narndee Station 10.00% $698.44 $63.49

31/07/2014 EFT Hampel Contracting Services 10.00% $6,050.00 $550.00

31/07/2014 EFT Swagman Roadhouse 10.00% $250.00 $22.73

31/07/2014 EFT Shire of Mount Magnet 10.00% $6,600.00 $600.00

08/01/2014 CR000189 Payment; Shire of Mount Magnet 10.00% $13,637.80 $1,239.80


08/05/2014 CR000190 Payment; Murchison Downs Station10.00% $423.30 $38.48

15/08/2014 CR000191 Payment; Neds Creek Station 10.00% $360.58 $32.78

19/08/2014 CR000192 Payment; Meekatharra Rangelands Biosecurity Assn10.00% $12,000.50 $1,090.95

19/08/2014 CR000193 Payment; Paroo Station 10.00% $1,151.42 $104.67

21/08/2014 CR000196 Payment; Meekatharra Rangelands Biosecurity Assn10.00% $675.00 $61.36

26/08/2014 CR000197 Payment; Gidgee Pastoral Station 10.00% $115.07 $10.46

26/08/2014 CR000198 Payment; Hill View Station 10.00% $663.69 $60.34

28/08/2014 CR000199 Payment; Shire of Cue 10.00% $12,423.40 $1,129.40

28/08/2014 EFT CL & MA Bernhardt 10.00% $1,122.00 $102.00

29/08/2014 CR000200 Payment; Dept of CALM 10.00% $225.71 $20.52

09/01/2014 CR000201 Payment; Yulella Fabrications Aboriginal Corporation10.00% $375.61 $34.15

09/01/2014 CR000202 Payment; Shire of Meekatharra 10.00% $19,911.10 $1,810.10

09/02/2014 CR000203 Payment; Shire of Sandstone 10.00% $4,560.60 $414.60

09/04/2014 CR000204 Payment; Meeline Station 10.00% $78.88 $7.17




09/12/2014 EFT RSM Bird Cameron 10.00% $2,032.25 $184.75

15/09/2014 CR000205 Payment; Barrambie Station 10.00% $177.03 $16.09

19/09/2014 CR000206 Payment; Shire of Yalgoo 10.00% $19,707.60 $1,791.60



23/10/2014 EFT Anderson Munro & Wyllie 10.00% $2,035.00 $185.00

23/10/2014 EFT Anderson Munro & Wyllie 10.00% $1,851.89 $168.35

13/11/2014 CR000207 Payment; Youno Downs Station 10.00% $460.27 $41.84

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17/11/2014 CR000208 Payment; Rangeland Red 10.00% $469.51 $42.68



28/11/2014 EFT LGIS 10.00% $825.00 $75.00



28/11/2014 EFT RSM Bird Cameron 10.00% $2,032.25 $184.75

01/08/2015 EFT McLeods Barristers & Solicitors 10.00% $3,434.76 $312.25

Total: $88,115.51 $33,872.98 $8,010.48 $3,079.37

INP Input Taxed

07/01/2014 GJ0107 Credit Interest - Cash Deposit - At Call0.00% ($73.81) $0.00

07/01/2014 GJ0107BF CBA - Account Fee 0.00% $7.20 $0.00

07/01/2014 GJ0107IN Credit Interest 0.00% ($0.02) $0.00

31/07/2014 GJ3107 Credit Interest - Cash Deposit 0.00% ($1,641.12) $0.00

08/01/2014 GJ0108 Credit Interest - Cash Deposit - At Call0.00% ($98.43) $0.00



25/08/2014 GJ2508BF CBA - Audit Certificate Fee 0.00% $60.00 $0.00


09/01/2014 GJ0109CD Credit Interest - Cash Deposit 0.00% ($155.61) $0.00


09/02/2014 GJ0209CD Credit Interest - Cash Deposit 0.00% ($1,504.01) $0.00

30/09/2014 GJ3009 Credit Interest - Cash Deposit 0.00% ($3,869.10) $0.00

10/01/2014 GJ000091 CBA - Account Fee 0.00% $6.40 $0.00

10/01/2014 GJ000092 Credit Interest 0.00% ($0.46) $0.00

10/01/2014 GJ000095 Credit Interest - Cash Deposit 0.00% ($166.34) $0.00














Total: $0.00 ($16,731.38) $0.00 $0.00

N-T Not Reportable

07/01/2014 EFT R Grinham 0.00% $290.00 $0.00

07/01/2014 GJ0107 Credit Interest - Cash Deposit - At Call0.00% $73.81 $0.00

07/01/2014 GJ0107BF CBA - Account Fee 0.00% ($7.20) $0.00

07/01/2014 GJ0107IN Credit Interest 0.00% $0.02 $0.00

31/07/2014 GJ3107 Credit Interest - Cash Deposit 0.00% $1,641.12 $0.00

08/01/2014 GJ0108 Credit Interest - Cash Deposit - At Call0.00% $98.43 $0.00



25/08/2014 GJ2508BF CBA - Audit Certificate Fee 0.00% ($60.00) $0.00


09/01/2014 GJ0109CD Credit Interest - Cash Deposit 0.00% $155.61 $0.00


09/02/2014 GJ0209CD Credit Interest - Cash Deposit 0.00% $1,504.01 $0.00


30/09/2014 GJ3009 Credit Interest - Cash Deposit 0.00% $3,869.10 $0.00

10/01/2014 GJ000091 CBA - Account Fee 0.00% ($6.40) $0.00

10/01/2014 GJ000092 Credit Interest 0.00% $0.46 $0.00

10/01/2014 GJ000095 Credit Interest - Cash Deposit 0.00% $166.34 $0.00


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19/12/2014 458 M King 0.00% $300.00 $0.00

19/12/2014 EFT C Hodshon 0.00% $450.00 $0.00

19/12/2014 EFT R Le Maitre 0.00% $450.00 $0.00

19/12/2014 EFT J Homewood 0.00% $1,150.00 $0.00

19/12/2014 EFT R Grinham 0.00% $300.00 $0.00

19/12/2014 EFT H Nichols 0.00% $150.00 $0.00

19/12/2014 EFT N Grinham 0.00% $362.50 $0.00

19/12/2014 EFT A Bloore 0.00% $300.00 $0.00





01/08/2015 EFT J O'Brien 0.00% $450.00 $0.00


Total: $0.00 $23,123.56 $0.00 $0.00

Grand Total: $8,010.48 $40,376.35

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Bank Register01/07/2014 To 31/01/2015

ID# Src Date Memo/Payee Deposit Withdrawal Balance

1-1110 Cheque Account

GJ0107BF GJ 01/07/2014 CBA - Account Fee $5.00 $2,045.90


GJ0107IN GJ 01/07/2014 Credit Interest $0.02 $2,043.72

EFT CD 01/07/2014 R Grinham $290.00 $1,753.72

EFT CD 01/07/2014 R Le Maitre $290.00 $1,463.72

GJ1007CD GJ 10/07/2014 CLGF 2012/2013 Regional

Groups - Construction of Part of

the Murchison Vermin Cell

$526,731.70 $528,195.42

GJ1107CD GJ 11/07/2014 Transfer - Cash Deposit $526,731.70 $1,463.72

GJ3107CD GJ 31/07/2014 Drawdown Cash Deposit $26,000.00 $27,463.72


EFT CD 31/07/2014 Shire of Mount Magnet $6,600.00 $22,427.62

EFT CD 31/07/2014 Anderson Munro & Wyllie $275.00 $22,152.62

EFT CD 31/07/2014 Murchison Aviation $11,123.90 $11,028.72

EFT CD 31/07/2014 Swagman Roadhouse $250.00 $10,778.72

EFT CD 31/07/2014 Tenderlink $165.00 $10,613.72

EFT CD 31/07/2014 Tenderlink $165.00 $10,448.72

EFT CD 31/07/2014 Hampel Contracting Services $6,050.00 $4,398.72

CR000188 CR 31/07/2014 Payment; Narndee Station $698.44 $5,097.16




EFT CD 01/08/2014 Shire of Mount Magnet $262.17 $4,829.40

CR000189 CR 01/08/2014 Payment; Shire of Mount Magnet $13,637.80 $18,467.20

CR000190 CR 05/08/2014 Payment; Murchison Downs

Station

$423.30 $18,890.50

CR000191 CR 15/08/2014 Payment; Neds Creek Station $360.58 $19,251.08

CR000192 CR 19/08/2014 Payment; Meekatharra

Rangelands Biosecurity Assn

$12,000.50 $31,251.58

CR000193 CR 19/08/2014 Payment; Paroo Station $1,151.42 $32,403.00



$20,000.00 $52,403.00



$675.00 $53,078.00

GJ2508BF GJ 25/08/2014 CBA - Audit Certificate Fee $60.00 $53,018.00

GJ2908AT GJ 25/08/2014 ATO - BAS - Apr14-Jun14 $56,083.00 ($3,065.00)

CR000197 CR 26/08/2014 Payment; Gidgee Pastoral Station $115.07 ($2,949.93)

CR000198 CR 26/08/2014 Payment; Hill View Station $663.69 ($2,286.24)

EFT CD 28/08/2014 CL & MA Bernhardt $1,122.00 ($3,408.24)

CR000199 CR 28/08/2014 Payment; Shire of Cue $12,423.40 $9,015.16

CR000200 CR 29/08/2014 Payment; Dept of CALM $225.71 $9,240.87




CR000201 CR 01/09/2014 Payment; Yulella Fabrications

Aboriginal Corporation

$375.61 $9,604.88

CR000202 CR 01/09/2014 Payment; Shire of Meekatharra $19,911.10 $29,515.98

CR000203 CR 02/09/2014 Payment; Shire of Sandstone $4,560.60 $34,076.58

CR000204 CR 04/09/2014 Payment; Meeline Station $78.88 $34,155.46

EFT CD 12/09/2014 RSM Bird Cameron $2,032.25 $32,123.21





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Bank Register01/07/2014 To 31/01/2015

ID# Src Date Memo/Payee Deposit Withdrawal Balance

CR000205 CR 15/09/2014 Payment; Barrambie Station $177.03 $25,370.56

CR000206 CR 19/09/2014 Payment; Shire of Yalgoo $19,707.60 $45,078.16

GJ3009CD GJ 30/09/2014 Transfer - At Call $30,000.00 $15,078.16

GJ000091 GJ 01/10/2014 CBA - Account Fee $5.00 $15,073.16

GJ000091 GJ 01/10/2014 CBA - Account Fee $1.40 $15,071.76

GJ000092 GJ 01/10/2014 Credit Interest $0.46 $15,072.22

EFT CD 23/10/2014 Anderson Munro & Wyllie $3,886.89 $11,185.33







GJ000093 GJ 31/10/2014 Drawdown - Cash Deposit $280,000.00 $286,393.02

GJ000094 GJ 31/10/2014 ATO - BAS 01/07/2014 to

30/09/2014

$52,830.00 $233,563.02


EFT CD 31/10/2014 Southern Wire $223,865.95 $9,386.12




CR000207 CR 13/11/2014 Payment; Youno Downs Station $460.27 $9,841.29

CR000208 CR 17/11/2014 Payment; Rangeland Red $469.51 $10,310.80




EFT CD 21/11/2014 Robbro WA Pty Ltd $67,760.00 $27,297.95


EFT CD 28/11/2014 RSM Bird Cameron $2,032.25 $125,265.70


EFT CD 28/11/2014 Shire of Mount Magnet $1,909.76 $123,105.94

EFT CD 28/11/2014 LGIS $825.00 $122,280.94




458 CD 19/12/2014 M King $300.00 $121,973.76

459 CD 19/12/2014 Landmark Operations Limited $73,986.00 $47,987.76

EFT CD 19/12/2014 A Bloore $300.00 $47,687.76

EFT CD 19/12/2014 N Grinham $362.50 $47,325.26

EFT CD 19/12/2014 H Nichols $150.00 $47,175.26

EFT CD 19/12/2014 R Grinham $300.00 $46,875.26

EFT CD 19/12/2014 J Homewood $1,150.00 $45,725.26

EFT CD 19/12/2014 R Le Maitre $450.00 $45,275.26

EFT CD 19/12/2014 C Hodshon $450.00 $44,825.26

EFT CD 19/12/2014 Robbro WA Pty Ltd $13,586.67 $31,238.59




EFT CD 08/01/2015 McLeods Barristers & Solicitors $3,434.76 $21,500.57

EFT CD 08/01/2015 Landmark Operations Limited $8,162.00 $13,338.57

EFT CD 08/01/2015 J O'Brien $450.00 $12,888.57

$1,127,413.01 $1,116,575.34

Page 22


12.6 Budget Review to 31 December 2014

File: MRVC

Officer: Warren Olsen - CEO

Amended By: Nil



Application

To adopt the review of Council’s 2014/2015 Annual Budget as at 31 December 2014.

Background

The 2014/2015 Statutory Budget has been reviewed on the basis of actual expenditure and

income as at 31 December 2014. Council’s Financial Advisor RSM Bird Cameron have

reviewed the 2014/2015 Annual Budget in the context of the attachment and advises that

on review no variances are required.

Comment As required under Regulation 33A (4) the Annual Budget Review once adopted by Council

will be forwarded to the Department of Local Government.

Consultation

Mr Travis Bate - RSM Bird Cameron


Local Government Financial Management Regulations 1996 – Regulation 33A

Policy Implications

Nil


Nil


Nil

Voting Requirements

Absolute Majority

COUNCIL RESOLUTION

Moved: Cr Alan Bloore Seconded: Cr Harvey Nichols

That Council adopts the Budget Review as at 31 December 2014 with no variances

required.



REVIEW OF BUDGET REPORT


Local Government Act 1995

Local Government (Financial Management) Regulations 1996

This report should be read in conjunction with the notes to the accounts


Table of Contents

Income Statement by Nature and Type

Income Statement by Statutory Reporting Program

Note 1 Significant Accounting Policies


Adopted

Annual Budget

$ (a)

YTD

Actual $

(b)

Variance

Permanent

(c)

Variance

Timing

(Carryover)

(d)

Year End $

(a)+(c )+(d)

Comment

REVENUES FROM ORDINARY ACTIVITIES

Subsidy-Meekatharra Rangelands 29,705 29,705 29,705

Fees and Charges 70,047 70,047 70,047

Interest Earnings 15,000 16,840 15,000

114,752 116,592 - - 114,752

EXPENSES FROM ORDINARY ACTIVITIES

Materials and Contracts (89,752) (31,315) - - (89,752)

Depreciation (49,693) - - - (49,693)Depreciation has not been posted do not expect

depreciation to vary from budget by end of the year

Other Expenditure - - - - -

(139,445) (31,315) - - (139,445)

REVENUES FROM NON ORDINARY ACTIVITIES

Non Operating Grants 478,847 478,847 478,847

478,847 478,847 - - 478,847

NET RESULT 454,154 564,125 - - 454,154


INCOME STATEMENT

By Nature and Type


Budget v Actual Budget v Actual

Page 1Ordinary Meeting of Council Minutes - 10 March 2015 41 of 66

Adopted

Annual Budget

$ (a)

YTD

Actual $

(b)

Variance

Permanent

(c)

Variance

Timing

(Carryover)

(d)

Year End $

(a)+(c )+(d)

Comment


Economic Services 114,752 116,592 114,752

114,752 116,592 - - 114,752

EXPENSES FROM ORDINARY ACTIVITIES

EXCLUDING BORROWING COSTS EXPENSE

Governance (56,462) (24,464) (56,462)

Economic Services (82,983) (6,851) (82,983)

(139,445) (31,315) - - (139,445)


Non Operating Grants 478,847 478,847 478,847

478,847 478,847 - - 478,847

NET RESULT 454,154 564,125 - - 454,154

This statement is to be read in conjunction with the accompanying notes.

Budget v Actual Budget v Actual


INCOME STATEMENT

By Program



1. SIGNIFICANT ACCOUNTING POLICIES

The significant accounting policies which have been adopted in the preparation of this financial

report are:

(a) Basis of Preparation

The report has also been prepared on the accrual basis and is based on historical costs, modified, where

applicable, by the measurement at fair value of the selected non-current assets, financial assets

and liabilities.

Critical Accounting Estimates

(b) The Local Government Reporting Entity

All Funds through which the Council controls resources to carry on its functions have been

included in the financial statements forming part of this financial report.

In the process of reporting on the local government as a single unit, all transactions and balances

between those funds (for example, loans and transfers between Funds) have been eliminated.

(c) Goods and Services Tax

In accordance with recommended practice, revenues, expenses and assets capitalised are stated net

of any GST recoverable. Receivables and payables in the statement of financial position are stated

inclusive of applicable GST.

(d) Cash and Cash Equivalents

(e) Trade and Other Receivables

Cash and cash equivalents include cash on hand, cash at bank, deposits held at

call with banks, other short term highly liquid investments with original maturities

of three months or less that are readily convertible to known amounts of cash and

which are subject to an insignificant risk of changes in value and bank overdrafts.




The financial report is a general purpose financial statement which has been prepared in

accordance with Australian Accounting Standards (as they apply to local governments and not-for-

profit entities), Australian Accounting Interpretations, other authoritative pronouncements of the

Australian Accounting Standards Board, the local Government Act 1995 and accompanying

regulations.

The preparation of a financial report in conformity with Australian Accounting Standards requires

management to make judgements, estimates and assumptions that effect the application of

policies and reported amounts of assets and liabilities, income and expenses.

The estimates and associated assumptions are based on historical experience and various other

factors that are believed to be reasonable under the circumstances; the results of which form the

basis of making the judgements about carrying values of assets and liabilities that are not readily

apparent from other sources. Actual results may differ from these estimates.

Bank overdrafts are shown as short term borrowings in current liabilities on the

statement of financial position.

Collectability of trade and other receivables is reviewed on an ongoing basis.

Debts that are known to be uncollectible are written off when identified. An

allowance for doubtful debts is raised when there is objective evidence that they

will not be collectible.



(f) Inventories

General

Land Held for Resale

Land purchased for development and/or resale is valued at the lower of cost and net realisable

value. Cost includes the cost of acquisition, development, borrowing costs and holding costs

until Finance costs and holding charges incurred after development is completed are expensed.

Revenue arising from the sale of property is recognised in the statement of comprehensive income

as at the time of signing an unconditional contract of sale.

Land held for resale is classified as current except where it is held as non-current based on Council's intention

to release for sale.

(g) Fixed Assets

Initial Recognition

Revaluation

Certain asset classes may be revalued on a regular basis such that the carrying values are not materially

different from fair value. For infrastructure and other asset classes where no active market exists, fair

value is determined to be the current replacement cost of an asset less, where applicable, accumulated

depreciation calculated on the basis of such cost to reflect the already consumed or expired future

economic benefits of the asset.

Those assets carried at a revalued amount, being their fair value at the date of revaluation less any

subsequent accumulated depreciation and accumulated impairment losses, are to be revalued with

sufficient regularity to ensure the carrying amount does not differ materially from that determined using

fair value at reporting date.




Inventories are measured at the lower of cost and net realisable value.

Net realisable value is the estimated selling price in the ordinary course of

business less the estimated costs of completion and the estimated costs

necessary to make the sale.

Each class of fixed assets is carried at cost or fair value as indicated less, where

applicable, any accumulated depreciation or impairment losses.

All assets are initially recognised at cost. Cost is determined as the fair value of

the assets given as consideration plus costs incidental to the acquisition. For

assets acquired at no cost or for nominal consideration, cost is determined as fair

value at the date of acquisition. The cost of non-current assets constructed by

the Council includes the cost of all materials used in construction, direct labour

on the project and an appropriate proportion of variable and fixed overhead.

Increases in the carrying amount arising on revaluation of assets are credited to

a revaluation surplus in equity. Decreases that offset previous increases in the

same asset are charged against fair value reserves directly in equity; all other

decreases are charged to the statement of comprehensive income.

Any accumulated depreciation at the date of revaluation is eliminated against the

gross carrying amount of the asset and the net amount is restated to the revalued

amount of the asset.



(g) Fixed Assets (Continued)

Depreciation of Non-Current Assets (Continued)

Depreciation is recognised on a straight-line basis, using rates which are reviewed each reporting

period. Major depreciation periods are:

Fencing 50 years

Plant and Equipment 10 years

Capitalisation Threshold

(h) Financial Instruments

Initial Recognition and Measurement

Classification and Subsequent Measurement

techniques are adopted.




An asset's carrying amount is written down immediately to its recoverable amount

if the asset's carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing proceeds with the

carrying amount. These gains and losses are included in the statement of

comprehensive income. When revalued assets are sold, amounts included in the

revaluation surplus relating to that asset are transferred to retained earnings.

Expenditure on items of equipment under $2,000 is not capitalised. Rather, it is

recorded on an asset inventory listing.

Financial assets and financial liabilities are recognised when the Council

becomes a party to the contractual provisions to the instrument. For financial

assets, this is equivalent to the date that the Council commits itself to either the

purchase or sale of the asset (i.e. trade date accounting is adopted).

Financial instruments are initially measured at fair value plus transaction costs,

except where the instrument is classified 'at fair value through profit or loss', in

which case transaction costs are expensed to profit or loss immediately.

Financial instruments are subsequently measured at fair value, amortised cost

using the effective interest rate method or at cost.

Fair value represents the amount for which an asset could be exchanged or a

liability settled, between knowledgeable, willing parties. Where available, quoted

prices in an active market are used to determine fair value. In other





(i) Financial assets at fair value through profit and loss

(ii) Loans and receivables

(iii) Held-to-maturity investments




If the Council were to sell other than an insignificant amount of held-to-maturity financial assets,

the whole category would be tainted and reclassified as available-for-sale.

Amortised cost is calculated as:

(a) the amount in which the financial asset or financial liability is measured at initial recognition;

(b) less principal repayments;

(c) plus or minus the cumulative amortisation of the difference, if any, between the amount initially

recognised and the maturity amount calculated using the effective interest rate method; and

(d) less any reduction for impairment.

The effective interest rate method is used to allocate interest income or interest expense over the

relevant period and is equivalent to the rate that exactly discounts estimated future cash payments

or receipts (including fees, transaction costs and other premiums or discounts) through the

expected life (or when this cannot be reliably predicted, the contractual term) of the financial

instrument to the net carrying amount of the financial asset or financial liability. Revisions to

expected future net cash flows will necessitate an adjustment to the carrying value with a

consequential recognition of an income or expense in profit or loss.

Financial assets at fair value through profit or loss are financial assets held for trading. A financial

asset is classified in this category if acquired principally for the purpose of selling in the short term.

Derivatives are classified as held for trading unless they are designated as hedges. Assets in this

category are classified as current assets.

Loans and receivables are non-derivative financial assets with fixed or determinable payments that

are not quoted in an active market and are subsequently measured at amortised cost.

Loans and receivables are included in current assets, except for those which are not expected to

mature within 12 months after the end of the reporting period (classified as non-current assets).

Held-to-maturity investments are non-derivative financial assets with fixed maturities and fixed or

determinable payments and fixed maturities that the Council’s management has the positive

intention and ability to hold to maturity.

Held-to-maturity financial assets are included in non-current assets, except for those which are

expected to mature within 12 months after the end of the reporting period (classified as current

assets).





(iv) Available-for-sale financial assets

(v) Financial liabilities

Impairment

(i) Estimation of Fair Value

The nominal value less estimated credit adjustments of trade receivables and payables are

assumed to approximate their fair values. The fair value of financial liabilities for disclosure

purposes is estimated by discounting the future contractual cash flows at the current market

interest rate that is available to the Council for similar financial instruments.




Available-for-sale financial assets, are non-derivative financial assets that are either not suitable to

be classified into other categories of financial assets due to their nature, or they are designated as

such by management. They comprise investments in the equity of other entities where there is

neither a fixed maturity nor fixed or determinable.

Available-for-sale financial assets are included in non-current assets, except for those which are

expected to mature within 12 months after the end of the reporting period (classified as current

assets).

Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at

amortised cost.

At the end of each reporting period, the Council assesses whether there is objective evidence that

a financial instrument has been impaired. In the case of available-for-sale financial instruments, a

prolonged decline in the value of the instrument is considered to determine whether impairment

has arisen. Impairment losses are recognised in the statement of comprehensive income.

The fair value of financial assets and financial liabilities must be estimated for recognition and

measurement or for disclosure purposes.

The fair value of financial instruments traded in active markets is based on quoted market prices at

the reporting date.

The fair value of financial instruments that are not traded in an active market is determined using

valuation techniques. The Council uses a variety of methods and makes assumptions that are

based on market conditions existing at each reporting date. These include the use of recent arm’s

length transactions, reference to other instruments that are substantially the same, discounted

cash flow analysis, and option pricing models making maximum use of market inputs and relying

as little as possible on entity-specific inputs.

Quoted market prices or dealer quotes for similar instruments are used for long-term debt

instruments held. Other techniques, such as estimated discounted cash flows, are used to

determine fair value for the remaining financial instruments.



(j) Impairment

In accordance with Australian Accounting Standards the Council's assets, other than inventories,

are assessed at each reporting date to determine whether there is any indication they may be impaired.

Where such an indication exists, an estimate of the recoverable amount of the asset is madein accordance with AASB 136 'Impairment of Assets' and appropriate adjustments made.

An impairment loss is recognised whenever the carrying amount of an asset or its cash-generating unit

exceeds its recoverable amount. Impairment losses are recognised in the statement of comprehensive

income.

For non-cash generating assets such as roads, drains, public buildings and the like, value in use is

represented by the depreciated replacement cost of the asset.

(k) Trade and Other Payables

Trade and other payables represent liabilities for goods and services provided to the Council

prior to the end of the financial year that are unpaid and arise when the Council becomes

obliged to make future payments in respect of the purchase of these goods and services.

The amounts are unsecured and are usually paid within 30 days of recognition.

(l) Employee Benefits

The provisions for employee benefits relates to amounts expected to be paid for long service

leave, annual leave, wages and salaries and are calculated as follows:

(i) Wages, Salaries, Annual Leave and Long Service Leave (Short-term Benefits)

The provision for employees’ benefits to wages, salaries, annual leave and long service leave

expected to be settled within 12 months represents the amount the Council has a present

obligation to pay resulting from employees services provided to reporting date. The provision has

been calculated at nominal amounts based on remuneration rates the Council expects to pay

and includes related on-costs.

(ii) Long Service Leave (Long-term Benefits)

(m) Borrowing Costs

Borrowing costs are recognised as an expense when incurred except where they are directly

attributable to the acquisition, construction or production of a qualifying asset. Where this is

the case, they are capitalised as part of the cost of the particular asset.




The liability for long service leave is recognised in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currency that match as closely as possible, the estimated future cash outflows. Where the Council does not have the unconditional right to defer settlement beyond 12 months, the liability is recognised as a current



(n) Provisions

Provisions are recognised when:

a) the Council has a present legal or constructive obligation as a result of past events;

b) for which it is probable that an outflow of economic benefits will result to settle the

obligation; and

c) that outflow can be reliably measured.

Provisions are not recognised for future operating losses.

(o) Joint Venture

The Council does not have any interest in a joint venture.

(p) Rates, Grants, Donations and Other Contributions

Rates, grants, donations and other contributions are recognised as revenues when the local

government obtains control over the assets comprising the contributions. Control over assets

acquired from rates is obtained at the commencement of the rating period or, where earlier, upon

receipt of the rates.

Where contributions recognised as revenues during the reporting period were obtained on the

condition that they be expended in a particular manner or used over a particular period, and those

conditions were undischarged as at the reporting date, the nature of and amounts pertaining to

those undischarged conditions are disclosed in Note 2(c). That note also discloses the amount

of contributions recognised as revenues in a previous reporting period which were obtained in

respect of the local government's operation for the current reporting period.

(q) Superannuation

(r) Current and Non-Current Classification

(s) Rounding Off Figures

All figures shown in this annual financial report, other than a rate in the dollar, are rounded to the

nearest dollar.

(t) Comparative Figures

Where required, comparative figures have been adjusted to conform with changes in presentation

for the current financial year.

(u) Budget Comparative Figures

Unless otherwise stated, the budget comparative figures shown in this annual financial report relate to

the original budget estimate for the relevant item of disclosure.

Provisions are measured using the best estimate of the amounts required to settle the obligation at

the end of the reporting period.

The Council contributes to a number of superannuation funds on behalf of employees.

In the determination of whether an asset or liability is current or non-current, consideration is given

to the time when each asset or liability is expected to be settled. The asset or liability is classified

as current if it is expected to be settled within the next 12 months, being the Council’s operational

cycle. In the case of liabilities where the Council does not have the unconditional right to defer

settlement beyond 12 months, such as vested long service leave, the liability is classified as

current even if not expected to be settled within the next 12 months. Inventories held for trading

are classified as current even if not expected to be realised in the next 12 months except for land

held for resale where it is held as non-current based on Council’s intentions to release for sale.







(w) New Accounting Standards and Interpretations for Application in Future Periods


(i) AASB 9 – Financial

InstrumentsDecember 2009 01 January 2013 Nil – The objective of this Standard is to improve and

simplify the approach for classification and

measurement of financial assets compared with the

requirements of AASB 139. Given the nature of the

financial assets of the Council, it is not anticipated the

standard will have any material effect.

(ii) AASB 124 – Related Party

DisclosuresDecember 2009 01 January 2011 Nil – It is not anticipated the Council will have any

related parties as defined by the Standard.

(iii) AASB 1053 - Application of

Tiers of Australian Accounting

Standards

June 2010 01 July 2013Nil - Due to its nature and statutory requirements the

Council will be deemed a Tier 1 entity and will continue

to prepare general purpose financial statements.

(iv) AASB 2009 -12 Amendments


Standards

[AASB 5, 8, 108, 110, 112,

119, 133, 137, 139, 1023 &


16, 1039 & 1052]

December 2009 01 January 2011 Nil – The revisions embodied in this standard relate to

standards which do not apply to local government (i.e.

AASB8) or are largely editorial in nature and will have

minimal effect (if any) on the accounting practices of the

Council.



Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet effective have not been adopted by the Council for the annual reporting period ending 30 June 2011.

Council’s assessment of these new standards and interpretations is set out below:

Page 8






(v) AASB 2009– 11 Amendments


Standards arising from AASB 9




effect on the Council (refer (i) above).[AASB 1, 3, 4, 5, 7, 101, 102,

108, 112, 118, 121, 127, 128,

131, 132, 136, 139, 1023 &


12)

(vi) AASB 2010 - 2 Amendments to

Australian Accounting

Standards arising from

Reduced Disclosure

Requirements

[AASB 1, 2, 3, 5, 7, 8, 101,

102, 107, 108, 110, 111, 112,

116, 117, 119, 121, 123, 124,

127, 128, 131, 133, 134, 136,

137, 138, 140, 141, 1050, &


5, 15, 17, 127, 129 & 1052]

June 2010 01 July 2013 Nil - None of these amendments will have any effect on

the financial report as the standard does not apply in the

case of general purpose financial statements.

(vii) AASB 2010 - 4 Further


Accounting Standards arising

from the Annual Improvements

Project [AASB 1, 7, 101, 134,

and Interpretation 13]

June 2010 01 January 2011 Nil - The revisions are part of the AASB's annual

improvement project to help ensure consistency with

presentation, recognition and measurement criteria of

IFRSs. It is not anticipated these will have any effect on

the Council.



Page 9






(viii) AASB 2010 - 5 Amendments to


Standards

[AASB 1, 3, 4, 5, 101, 107,

112, 118, 119, 121, 132, 133,

134, 137, 139, 140, 1023 &

1038 and Interpretations 112,

115, 127, 132 & 1042]

October 2010 01 January 2011 Nil - The revisions embodied in this standard are largely

editorial in nature or relate to standards not applicable to

the Council and will have minimal effect (if any) on the

accounting practices of the Council.

(ix) AASB 2010 - 6 Amendments to


Standards - Disclosures on

Transfers of Financial Assets

[AASB 1 & 7]

November 2010 01 July 2011 Nil - The revisions embodied in this standard amend

disclosures required on transfers of financial assets.

The Council is not expected to have any qualifying

transfers.

(x) AASB 2010 – 7 Amendments


Standards arising from AASB 9

(December 2010)




effect on the Council (refer (i) above).

[AASB 1, 3, 4, 5, 7, 101, 102,

108, 112, 118, 121, 127, 128,

131, 132, 136, 139, 1023 &


12)

(xi) AASB 2010 - 8 Amendments to


Standards - Deferred Tax:

Recovery of Underlying Assets

[AASB 1 & 7]

December 2010 01 January 2012 Nil - None of these amendments will have any effect on





Page 10






(xi) (Continued)

AASB 2010 - 9 Amendments to


Standards - Severe

Hyperinflation and Removal of

Fixed Dates for First-time

Adopters

[AASB 1]

December 2010 01 July 2011 Nil - None of these amendments will have any effect on



AASB 2009– 14 Amendments

to Australian Interpretations –

Prepayments of a Minimum

Funding Requirement

[AASB Interpretation 14]


AASB 2010 - 10 Further


Accounting Standards -

Removal of Fixed Dates for

First-time Adopters [AASB

2009 - 11 & 2010 - 7]


Notes:

(*) Applicable to reporting periods commencing on or after the given date.



Page 11




(x) Adoption of New and Revised Accounting Standards

AASB 2009 - 5

AASB 2009 - 8

AASB 2009 - 10

AASB 2009 - 13

AASB 2010 - 1

AASB 2010 - 3

Interpretation 19


During the current year, the Council adopted all of the new and revised Australian Accounting Standards and Interpretations which became

mandatory and which were applicable to its operations.

The standards adopted had a minimal effect on the accounting and reporting practices of the Council as they were either largely editorial in

nature, were revisions to help ensure consistency with presentation, recognition and measurement criteria of IFRSs or related to topics not

relevant to operations.


These new and revised standards were:

Page 12


12.7 Compliance Audit Return - Calendar Year 2014

File: MRVC Officer: Warren Olsen – CEO

Amended by: Nil



Application

To adopt the Compliance Audit Return for 2014.

Background Completion of the Annual Compliance Audit Return is a requirement of the Local

Government Act 1995.

Current Position The 2014 Compliance Audit Return will be considered by the Audit Committee Meeting

preceding this Ordinary Meeting and the Compliance Audit Return will be tabled at the

Meeting together with the Committee's recommendation.

Consultation

Finance Manager


Regulations 14 and 15 of the Local Government Audit Regulations requires that a

Compliance Audit Return must be completed each year and lodged with the Department of

Local Government prior to the end of March of the following year.

Policy Implications

Nil.


Nil.


Nil.

Voting Requirements

Simple Majority.

COUNCIL RESOLUTION

Moved: Cr Roger Le Maitre Seconded: Cr Alan Bloore

That Council adopts the Compliance Audit Return for the 2014 calendar year as

recommended by the Audit Committee.

CARRIED 8/0


Murchison Regional Vermin Council - Compliance Audit Return Regional Local Government 2014

No Reference Question Response Comments Respondent

1 s3.59(2)(a)(b)(c) Functions & General Regulation 7,9

Has the local government prepared a business plan for each major trading undertaking in 2014.

N/A Warren Olsen


Has the local government prepared a business plan for each major land transaction that was not exempt in 2014.

N/A Warren Olsen


Has the local government prepared a business plan before entering into each land transaction that was preparatory to entry into a major land transaction in 2014.

N/A Warren Olsen

4 s3.59(4) Has the local government given Statewide public notice of each proposal to commence a major trading undertaking or enter into a major land transaction for 2014.

N/A Warren Olsen

5 s3.59(5) Did the Council, during 2014, resolve to proceed with each major land transaction or trading undertaking by absolute majority.

N/A Warren Olsen

Commercial Enterprises by Local Governments

Certified Copy of ReturnPlease submit a signed copy to the Director General of the Department of Local Government and Communities together with a copy of section of relevant minutes.

1 of 9

Department of Local Government and Communities - Compliance Audit Return



1 s5.16, 5.17, 5.18 Were all delegations to committees resolved by absolute majority.

N/A There are no delegations to committees

Warren Olsen

2 s5.16, 5.17, 5.18 Were all delegations to committees in writing.


Warren Olsen

3 s5.16, 5.17, 5.18 Were all delegations to committees within the limits specified in section 5.17.


Warren Olsen

4 s5.16, 5.17, 5.18 Were all delegations to committees recorded in a register of delegations.


Warren Olsen

5 s5.18 Has Council reviewed delegations to its committees in the 2013/2014 financial year.


Warren Olsen

6 s5.42(1),5.43 Administration Regulation 18G

Did the powers and duties of the Council delegated to the CEO exclude those as listed in section 5.43 of the Act.

No A limit should be set for the maximum value of goods to be disposed of under delegated authority, for the purpose of paragraph 5.43 (d).

Warren Olsen

7 s5.42(1)(2) Admin Reg 18G

Were all delegations to the CEO resolved by an absolute majority.

Yes Apparently so, as the report on the Council agenda specifies that an Absolute Majority is required. Unfortunately the minutes do not record the voting.

Warren Olsen

8 s5.42(1)(2) Admin Reg 18G

Were all delegations to the CEO in writing.

Yes Warren Olsen

9 s5.44(2) Were all delegations by the CEO to any employee in writing.

N/A There is no evidence in the delegations register of any new sub-delegations being made in the review period.

Warren Olsen

10 s5.45(1)(b) Were all decisions by the Council to amend or revoke a delegation made by absolute majority.

N/A No changes were proposed during the review period.

Warren Olsen

11 s5.46(1) Has the CEO kept a register of all delegations made under the Act to him and to other employees.

Yes Warren Olsen

12 s5.46(2) Were all delegations made under Division 4 of Part 5 of the Act reviewed by the delegator at least once during the 2013/2014 financial year.

No Unable to find evidence of a review of sub-delegations during the review period.

Warren Olsen

13 s5.46(3) Admin Reg 19

Did all persons exercising a delegated power or duty under the Act keep, on all occasions, a written record as required.

Yes Warren Olsen

Delegation of Power / Duty


Disclosure of Interest

2 of 9




1 s5.67 If a member disclosed an interest, did he/she ensure that they did not remain present to participate in any discussion or decision-making procedure relating to the matter in which the interest was disclosed (not including participation approvals granted under s5.68).

Yes Warren Olsen

2 s5.68(2) Were all decisions made under section 5.68(1), and the extent of participation allowed, recorded in the minutes of Council and Committee meetings.

Yes Warren Olsen

3 s5.73 Were disclosures under section 5.65 or 5.70 recorded in the minutes of the meeting at which the disclosure was made.

Yes Warren Olsen

4 s5.75(1) Admin Reg 22 Form 2

Was a primary return lodged by all newly elected members within three months of their start day.

No 1 Primary return was received after the statutory 3 month period. All others were received within the statutory period

Warren Olsen


Was a primary return lodged by all newly designated employees within three months of their start day.

No Warren Olsen


Was an annual return lodged by all continuing elected members by 31 August 2014.

Yes Warren Olsen


Was an annual return lodged by all designated employees by 31 August 2014.

Yes Warren Olsen

8 s5.77 On receipt of a primary or annual return, did the CEO, (or the Mayor/ President in the case of the CEO’s return) on all occasions, give written acknowledgment of having received the return.

Yes Warren Olsen

9 s5.88(1)(2) Admin Reg 28

Did the CEO keep a register of financial interests which contained the returns lodged under section 5.75 and 5.76

Yes Warren Olsen

10 s5.88(1)(2) Admin Reg 28

Did the CEO keep a register of financial interests which contained a record of disclosures made under sections 5.65, 5.70 and 5.71, in the form prescribed in Administration Regulation 28.

Yes Warren Olsen

11 s5.88 (3) Has the CEO removed all returns from the register when a person ceased to be a person required to lodge a return under section 5.75 or 5.76.

Yes Warren Olsen

12 s5.88(4) Have all returns lodged under section 5.75 or 5.76 and removed from the register, been kept for a period of at least five years, after the person who lodged the return ceased to be a council member or designated employee.

Yes Warren Olsen

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13 s5.103 Admin Reg 34C & Rules of Conduct Reg 11

Where an elected member or an employee disclosed an interest in a matter discussed at a Council or committee meeting where there was a reasonable belief that the impartiality of the person having the interest would be adversely affected, was it recorded in the minutes.

Yes Warren Olsen

14 s5.70(2) Where an employee had an interest in any matter in respect of which the employee provided advice or a report directly to the Council or a Committee, did that person disclose the nature of that interest when giving the advice or report.

N/A Warren Olsen

15 s5.70(3) Where an employee disclosed an interest under s5.70(2), did that person also disclose the extent of that interest when required to do so by the Council or a Committee.

N/A Warren Olsen

16 s5.103(3) Admin Reg 34B

Has the CEO kept a register of all notifiable gifts received by Council members and employees.

Yes Warren Olsen


1 s3.58(3) Was any property that was not disposed of by public auction or tender, given local public notice prior to disposal (except where excluded by Section 3.58(5)).

N/A Warren Olsen

2 s3.58(4) Where the local government disposed of property under section 3.58(3), did it provide details, as prescribed by section 3.58(4), in the required local public notice for each disposal of property.

N/A Warren Olsen

Disposal of Property


1 s7.1A Has the local government established an audit committee and appointed members by absolute majority in accordance with section 7.1A of the Act.

No At its meeting held on 6 March 2012, the Council resolved by absolute majority "That the Murchison Regional Vermin Council Audit Committee be established with a membership of all Councillors".

I am unable to find a resolution made subsequent to the October 2013 elections re-establishing the Committee.

Warren Olsen

Finance

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2 s7.1B Where a local government determined to delegate to its audit committee any powers or duties under Part 7 of the Act, did it do so by absolute majority.

N/A No powers and duties have been delegated to the Audit Committee

Warren Olsen

3 s7.3 Was the person(s) appointed by the local government to be its auditor, a registered company auditor.

Yes Maureen Murat

4 s7.3 Was the person(s) appointed by the local government to be its auditor, an approved auditor.

Yes Maureen Murat

5 S7.3, s7.6(3) Was the person or persons appointed by the local government to be its auditor, appointed by an absolute majority decision of Council.

Yes Maureen Murat

6 s7.12A(3), (4) Where the local government determined that matters raised in the auditor’s report prepared under s7.9(1) of the Act required action to be taken by the local government, was that action undertaken.

N/A No matters determined that required action

Maureen Murat

7 s7.12A(3), (4) Where the local government determined that matters raised in the auditor’s report (prepared under s7.9(1) of the Act) required action to be taken by the local government, was a report prepared on any actions undertaken.

N/A Maureen Murat

8 s7.12A(3), (4) Where the local government determined that matters raised in the auditor’s report (prepared under s7.9(1) of the Act) required action to be taken by the local government, was a copy of the report forwarded to the Minister by the end of the financial year or 6 months after the last report prepared under s7.9 was received by the local government whichever was the latest in time.

N/A Maureen Murat

9 A Reg 7 Did the agreement between the local government and its auditor include the objectives of the audit.

Yes Maureen Murat

10 A Reg 7 Did the agreement between the local government and its auditor include the scope of the audit.

Yes Maureen Murat

11 A Reg 7 Did the agreement between the local government and its auditor include a plan for the audit.

Yes Maureen Murat

12 A Reg 7 Did the agreement between the local government and its auditor include details of the remuneration and expenses to be paid to the auditor.

Yes Maureen Murat

13 A Reg 7 Did the agreement between the local government and its auditor include the method to be used by the local government to communicate with, and supply information to, the auditor.

Yes Maureen Murat

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14 Audit Reg 10 Was the Auditor's report for the financial year ended 30 June 2014 received by the local government within 30 days of completion of the audit.

Yes Maureen Murat

15 s7.9(1) Was the Auditor's report for 2013/2014 received by the local government by 31 December 2014.

Yes Maureen Murat


1 Admin Reg 18C Did the local government approve the process to be used for the selection and appointment of the CEO before the position was advertised.

N/A The MRVC does not directly appoint a CEO or designated senior employees

Warren Olsen

2 s5.36(4), 5.37(3), Admin Reg 18A

Were all vacancies for the position of CEO and other designated senior employees advertised and did the advertising comply with s5.36(4), s5.37(3) and Admin Reg 18A.


Warren Olsen

3 s5.37(2) Did the CEO inform council of each proposal to employ or dismiss a designated senior employee.


Warren Olsen

4 Admin Reg 18F Was the remuneration and other benefits paid to a CEO on appointment the same remuneration and benefits advertised for the position of CEO under section 5.36(4).


Warren Olsen

5 Admin Regs 18E Did the local government ensure checks were carried out to confirm that the information in an application for employment was true (applicable to CEO only).


Warren Olsen

Local Government Employees

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1 s5.120 Where the CEO is not the complaints officer, has the local government designated a senior employee, as defined under s5.37, to be its complaints officer.

N/A Warren Olsen

2 s5.121(1) Has the complaints officer for the local government maintained a register of complaints which records all complaints that result in action under s5.110(6)(b) or (c).

No Unable to find a complaints register

Warren Olsen

3 s5.121(2)(a) Does the complaints register maintained by the complaints officer include provision for recording of the name of the council member about whom the complaint is made.

N/A Warren Olsen

4 s5.121(2)(b) Does the complaints register maintained by the complaints officer include provision for recording the name of the person who makes the complaint.

N/A Warren Olsen

5 s5.121(2)(c) Does the complaints register maintained by the complaints officer include provision for recording a description of the minor breach that the standards panel finds has occurred.

N/A Warren Olsen

6 s5.121(2)(d) Does the complaints register maintained by the complaints officer include the provision to record details of the action taken under s5.110(6)(b)(c).

N/A Warren Olsen

Official Conduct


1 s3.57 F&G Reg 11 Did the local government invite tenders on all occasions (before entering into contracts for the supply of goods or services) where the consideration under the contract was, or was expected to be, worth more than the consideration stated in Regulation 11(1) of the Local Government (Functions & General) Regulations (Subject to Functions and General Regulation 11(2)).

Yes Maureen Murat

2 F&G Reg 12 Did the local government comply with F&G Reg 12 when deciding to enter into multiple contracts rather than inviting tenders for a single contract.

N/A Warren Olsen

3 F&G Reg 14(1) Did the local government invite tenders via Statewide public notice.

Yes Maureen Murat

4 F&G Reg 14, 15 & 16

Did the local government's advertising and tender documentation comply with F&G Regs 14,15 & 16.

Yes Maureen Murat

Tenders for Providing Goods and Services

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5 F&G Reg 18(1) Did the local government reject the tenders that were not submitted at the place, and within the time specified in the invitation to tender.

N/A Warren Olsen

6 F&G Reg 18 (4) In relation to the tenders that were not rejected, did the local government assess which tender to accept and which tender was most advantageous to the local government to accept, by means of written evaluation criteria.

Yes Maureen Murat

7 F&G Reg 17 Did the information recorded in the local government's tender register comply with the requirements of F&G Reg 17.

Yes Maureen Murat

8 F&G Reg 19 Was each tenderer sent written notice advising particulars of the successful tender or advising that no tender was accepted.

Yes Maureen Murat

9 F&G Reg 21 & 22 Did the local governments's advertising and expression of interest documentation comply with the requirements of F&G Regs 21 and 22.

N/A No expressions of interest sought

Maureen Murat

10 F&G Reg 23(1) Did the local government reject the expressions of interest that were not submitted at the place and within the time specified in the notice.

N/A Maureen Murat

11 F&G Reg 23(4) After the local government considered expressions of interest, did the CEO list each person considered capable of satisfactorily supplying goods or services.

N/A Maureen Murat

12 F&G Reg 24 Was each person who submitted an expression of interest, given a notice in writing in accordance with Functions & General Regulation 24.

N/A Maureen Murat

13 F&G Reg 24E Where the local government gave regional price preference in relation to a tender process, did the local government comply with requirements of F&G Reg 24E in relation to the preparation of a regional price preference policy (only if a policy had not been previously adopted by Council).

N/A Warren Olsen

14 F&G Reg 11A Does the local government have a current purchasing policy in relation to contracts for other persons to supply goods or services where the consideration under the contract is, or is expected to be, $100,000 or less.

No Warren Olsen

15 F&G Reg 14(5) If the local government sought to vary the information supplied to tenderers, was every reasonable step taken to give each person who sought copies of the tender documents or each acceptable tenderer, notice of the variation.

N/A Warren Olsen

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I certify this Compliance Audit return has been adopted by Council at its meeting on

Signed Mayor / President, Murchison Regional Vermin Council

Signed CEO, Murchison Regional Vermin Council

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13. MOTIONS OF WHICH PREVIOUS NOTICE HAS BEEN GIVEN

Nil.

14. NOTICE OF MOTIONS FOR THE NEXT MEETING

Nil.

15. CONFIDENTIAL BUSINESS

Nil.

16. LATE AGENDA ITEMS

Nil.

17. ELECTED MEMBER MATTERS

Cr Alan Bloore

Requested that the CEO adopt a purchasing policy and any other policies missing

from the MRVC, also any registers.

CEO

Colin Bernhardt informed CEO of 100 metres of fencing down on the No. 2 Vermin

Fence at Youno Downs.

The Murchison Region Vermin Cell Business Case is to be re-written.

Cr Neil Grinham

Sought advice on identifying a governing body for the Vermin Cell.

President

Advised Council on the need to issue a full fence inspection due to the recent rain.

Advised Council that the Maintenance contractor is no longer in Mount Magnet and

suggested the CEO re-advertise the position.

18. NEXT MEETING

8 June 2015

19. CLOSURE OF MEETING

There being no further business, the President closed the meeting at 2:25pm.


20. CERTIFICATION BY CHAIRMAN

Confirmed this day 29 June 2015


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