Module Scope

Does the council implement sound financial management systems that ensure accountability and sustainability?

Does the council prepare compliant budgets, long-term financial plans, and annual financial statements under the local government legislation and Integrated Planning and Reporting (IP&R) framework?

Does the council manage revenue (rates, charges, concessions), procurement, investments, and borrowings in accordance with statutory thresholds and guidelines?

Does the council maintain effective internal controls, risk management, and audit frameworks?

Module Application

The Finance module assists councils to:

• Develop budgeting, appropriation, revenue and rate strategies, and financial reporting aligned with NSW Treasury and Office of Local Government requirements.
• Comply with procurement and tendering rules (including exemptions), investment orders, and debt limits.
• Implement internal control and risk management frameworks, and address financial delegations and audit and risk committee functions.

This module applies to finance teams, responsible accounting officers, audit and risk committee members, and senior executives overseeing financial governance and performance.

Breaches may lead to invalid budgets, unlawful expenditure, procurement invalidation, loss of public funds, ministerial rate intervention or regulatory investigation.

About LexisNexis Regulatory Compliance

LexisNexis Regulatory Compliance® helps you forge a clear path to compliance.

With LexisNexis® content know-how at the core, our compliance registers, alerts, and information-driven solutions make compliance uncomplicated for GRC professionals across the globe.