Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698752532441.pdf (New Zealand)
2011/249 Local Government (Financial Reporting) Regulations 2011 Anand Satyanand, Governor-General Order in Council At Wellington this 11th day of July 2011 Present: The Right Hon John Key presiding in Council Pursuant to section 259(1)(da) and (db) of the Local Government Act 2002, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.
Contents Title Commencement Interpretation Information to be disclosed in financial statements Form of funding impact statement Directions for preparation of funding impact statements Transitional provision for specified plans and reports Schedule Forms of funding impact statement Page 2 2 2 2 2 3 3 4 1 r 1 1 2 3 Local Government (Financial Reporting) Regulations 2011 2011/249 Regulations Title These regulations are the Local Government (Financial Re- porting) Regulations 2011.
Commencement These regulations come into force on the 28th day after the date of their notification in the Gazette.

Interpretation In these regulations,— Act means the Local Government Act 2002 targeted rate for water supply means a targeted rate levied under section 19 of the Local Government (Rating) Act 2002.

4 (1) Information to be disclosed in financial statements This regulation applies to a local authority’s financial state- ments in its annual plan, long-term plan, and annual report.
(2) A local authority’s statement of comprehensive income must disclose separately the amount of income received or to be received from each of the following sources: (a) (b) (c) rates other than a targeted rate for water supply; and development and financial contributions; and subsidies and grants.
(3) A local authority’s statement of financial position must spe- cify the sum of the amounts of the authority’s investments in council-controlled organisations and in entities listed in sec- tion 6(4) of the Act.

The notes to a local authority’s financial statements must spe- cify, in relation to each group of activities, the combined de- preciation and amortisation expense for assets used directly in providing the group of activities.
(4) Form of funding impact statement The funding impact statement to be included in the long-term plan in accordance with clause 5 of Schedule 10 of the Act must be in form 1 of the Schedule.

5 (1) 2 2011/249 Local Government (Financial Reporting) Regulations 2011 r 7 (2) (3) (4) (5) 6 7 The funding impact statement to be included in the long-term plan in accordance with clause 15 of Schedule 10 of the Act must be in form 2 of the Schedule.
The funding impact statement to be included in the annual plan in accordance with clause 20 of Schedule 10 of the Act must be in form 3 of the Schedule.

The funding impact statement to be included in the annual re- port in accordance with clause 26 of Schedule 10 of the Act must be in form 4 of the Schedule.

The funding impact statement to be included in the annual re- port in accordance with clause 30 of Schedule 10 of the Act must be in form 5 of the Schedule.
Directions for preparation of funding impact statements A funding impact statement prepared by a local authority must comply with the following accounting policies: (a) (b) Timing a method of accounting that is regarded as accrual ac- counting under generally accepted accounting practice must be used to record the effects of transactions when they occur: Balance the total sources of funding must equal the total appli- cations of funding.
Transitional provision for specified plans and reports These regulations do not apply to— (a) a long-term plan beginning on 1 July 2009 and still in force on 27 November 2010; and an annual plan that relates to the period— (i) (ii) an annual report that relates to the period— 1 July 2010 to 30 June 2011; or (i) 1 July 2011 to 30 June 2012.
(ii) 1 July 2010 to 30 June 2011; or 1 July 2011 to 30 June 2012; and (b) (c) 3 4 Schedule Forms of funding impact statement Form 1 Funding impact statement for long-term plan (group of activities) Clause 5, Schedule 10, Local Government Act 2002 r 5 [Name of council]: Funding impact statement for [period] for [group of activities] [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) *[Year −1] Annual plan ($000) Sources of operating funding General rates, uniform annual general charges, rates penalties Targeted rates (other than a tar- geted rate for water supply) Subsidies and grants for oper- ating purposes Fees, charges, and targeted rates for water supply Internal charges and overheads recovered S c h e d u l e R e g u l a t i o n s 2 0 1 1 2 0 1 1 / 2 4 9 L o c a l G o v e r n m e n t ( F i n a n c i a l R e p o r t i n g ) Form 1—continued [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) *[Year −1] Annual plan ($000) 2 0 1 1 / ( F i n a n c i a l R e p o r t i n g ) fuel tax, authorities infringement fees, and Local fines, other receipts Total operating funding (A) of Applications funding Payments to staff and suppliers operating Finance costs Internal charges and overheads applied Other operating funding applications Total applications of operating funding (B) Surplus (deficit) of operating funding (A − B) 5 6 Form 1—continued *[Year −1] Annual plan ($000) [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) Sources of capital funding Subsidies and grants for capital expenditure Development contributions Increase (decrease) in debt and financial Gross proceeds from sale of as- sets Lump sum
 contributions Total sources of capital fund- ing (C) Applications of capital fund- ing Capital expenditure —to meet additional demand —to improve the level of ser- vice S c h e d u l e R e g u l a t i o n s 2 0 1 1 2 0 1 1 / 2 4 9 L o c a l G o v e r n m e n t ( F i n a n c i a l R e p o r t i n g ) Form 1—continued [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) *[Year −1] Annual plan ($000) —to replace existing assets Increase (decrease) in reserves Increase (decrease) of invest- ments Total applications of capital funding (D) Surplus (deficit) of capital funding (C − D) Funding balance ((A − B) + (C − D)) *Specify the actual years of the long-term plan.
The actual year for [year −1] is the year before the first year of the long-term plan.
7 2 0 1 1 / ( F i n a n c i a l R e p o r t i n g ) 8 Form 2 Funding impact statement for long-term plan (whole of council) Clause 15, Schedule 10, Local Government Act 2002 [Name of council]: Funding impact statement for [period] (whole of council) *[Year −1] Annual plan ($000) [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) Sources of operating funding rates, uniform annual General general charges, rates penalties Targeted rates (other than a tar- geted rate for water supply) Subsidies and grants for operating purposes Fees, charges, and targeted rates for water supply Interest and dividends from in- vestments Local authorities fuel tax, fines, infringement fees, and other re- ceipts Total operating funding (A) S c h e d u l e R e g u l a t i o n s 2 0 1 1 2 0 1 1 / 2 4 9 L o c a l G o v e r n m e n t ( F i n a n c i a l R e p o r t i n g ) Form 2—continued [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) *[Year −1] Annual plan ($000) 2 0 1 1 / ( F i n a n c i a l R e p o r t i n g ) Applications of operating fund- ing Payments to staff and suppliers Finance costs Other operating funding applications Total applications of operating funding (B) Surplus (deficit) of operating funding (A − B) Sources of capital funding Subsidies and grants for capital expenditure Development and financial contri- butions Increase (decrease) in debt 9 1 0 Form 2—continued *[Year −1] Annual plan ($000) [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) Gross proceeds from sale of assets Lump sum contributions Total sources of capital funding
 (C) Application of capital funding Capital expenditure —to meet additional demand —to improve the level of service —to replace existing assets Increase (decrease) in reserves Increase (decrease) of investments Total applications of capital funding (D) S c h e d u l e R e g u l a t i o n s 2 0 1 1 2 0 1 1 / 2 4 9 L o c a l G o v e r n m e n t ( F i n a n c i a l R e p o r t i n g ) Form 2—continued [Year 1] [Year 2] [Year 3] [Year 4] [Year 5] [Year 6] [Year 7] [Year 8] [Year 9] [Year 10] ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) ($000) *[Year −1] Annual plan ($000) Surplus (deficit) of capital fund- ing (C − D) Funding balance ((A − B) + (C − D)) *Specify the actual years of the long-term plan.
The actual year for [year −1] is the year before the first year of the long-term plan.

Other information to be included [Include the information specified in clause 15(3) to (5) of Schedule 10 of the Local Government Act 2002 where relevant.]
2 0 1 1 / ( F i n a n c i a l R e p o r t i n g ) 1 1 Schedule Local Government (Financial Reporting) Regulations 2011 2011/249 Form 3 Funding impact statement for annual plan (whole of council) Clause 20, Schedule 10, Local Government Act 2002 [Name of council]: Funding impact statement for [period] (whole of council) *[Year −1] Annual plan ($000) [Year 1] Long-term plan ($000) [Year 1] Annual plan ($000) Sources of operating funding General rates, uniform annual general charge, rates penalties Targeted rates (other than a targeted rate for water supply) Subsidies and grants for operating pur- poses Fees, charges, and targeted rates for water supply Interest and dividends from investments tax, fines, Local authorities fuel fringement fees, and other receipts Total operating funding (A) in- Applications of operating funding Payments to staff and suppliers Finance costs Other operating funding applications Total applications of operating fund- ing (B) Surplus (deficit) of operating funding (A − B) Sources of capital funding Subsidies and grants for capital expend- iture Development and financial contribu- tions 12 2011/249 Local Government (Financial Reporting) Regulations 2011 Schedule Form 3—continued *[Year −1] Annual plan ($000) [Year 1] Long-term plan ($000) [Year 1] Annual plan ($000) Increase (decrease) in debt Gross proceeds from sale of assets Lump sum contributions Total sources of capital funding (C) Application of capital funding Capital expenditure —to meet additional demand —to improve the level of service —to replace existing assets Increase (decrease) in reserves Increase (decrease) of investments Total applications of capital funding (D) Surplus (deficit) of capital funding (C − D) Funding balance ((A − B) + (C − D)) *Specify the actual year of the annual plan and the same year for the long-term plan.
The actual year for [year −1] is the year before the year of the annual plan.

Other information to be included [Include the information specified in clause 20(3) to (5) of Schedule 10 of the Local Government Act 2002 where relevant.]
13 Schedule Local Government (Financial Reporting) Regulations 2011 2011/249 Form 4 Funding impact statement for annual report (group of activities) Clause 26, Schedule 10, Local Government Act 2002 [Name of council]: Funding impact statement for [period] for [group of activities] *[Year −1] Long-term plan ($000) [Year 1] Long-term plan ($000) [Year 1] Actual ($000) Sources of operating funding General rates, uniform annual general charge, rates penalties Targeted rates (other than a targeted rate for water supply) Subsidies and grants for operating pur- poses Fees, charges, and targeted rates for water supply Internal charges and overheads recovered Local authorities fuel tax, fines, infringe- ment fees, and other receipts Total operating funding (A) Applications of operating funding Payments to staff and suppliers Finance costs Internal charges and overheads applied Other operating funding applications Total applications of operating funding (B) Surplus (deficit) of operating funding (A − B) 14 2011/249 Local Government (Financial Reporting) Regulations 2011 Schedule Form 4—continued *[Year −1] Long-term plan ($000) [Year 1] Long-term plan ($000) [Year 1] Actual ($000) Sources of capital funding Subsidies and grants for capital expenditure Development and financial contributions Increase (decrease) in debt Gross proceeds from sale of assets Lump sum contributions Total sources of capital funding (C) Application of capital funding Capital expenditure —to meet additional demand —to improve the level of service —to replace existing assets Increase (decrease) in reserves Increase (decrease) of investments Total applications of capital funding (D) Surplus (deficit) of capital funding (C − D) Funding balance ((A − B) + (C − D)) *Specify the actual years.
The actual year for [year −1] is the year before the current year of the long-term plan.

The actual year for [year 1], in both cases, is the year of the long-term plan to which the annual report relates.
15 Schedule Local Government (Financial Reporting) Regulations 2011 2011/249 Form 5 Funding impact statement for annual report (whole of council) Clause 30, Schedule 10, Local Government Act 2002 [Name of council]: Funding impact statement for [period] (whole of council) *[Year −1] Annual plan ($000) [Year –1] Annual report ($000) [Year 1] Annual plan ($000) [Year 1] Actual ($000) Sources of operating funding General rates, uniform annual gen- eral charge, rates penalties Targeted rates (other than a tar- geted rate for water supply) Subsidies and grants for operating purposes Fees, charges, and targeted rates for water supply Interest and dividends from invest- ments Local authorities fuel tax, fines, in- fringement fees, and other receipts Total operating funding (A) Applications of operating fund- ing Payments to staff and suppliers Finance costs Other operating funding applications Total applications of operating funding (B) Surplus (deficit) of operating funding (A − B) 16 2011/249 Local Government (Financial Reporting) Regulations 2011 Schedule Form 5—continued *[Year −1] Annual plan ($000) [Year –1] Annual report ($000) [Year 1] Annual plan ($000) [Year 1] Actual ($000) Sources of capital funding Subsidies and grants for capital ex- penditure Development and financial contri- butions Increase (decrease) in debt Gross proceeds from sale of assets Lump sum contributions Total sources of capital funding (C) Application of capital funding Capital expenditure —to meet additional demand —to improve the level of service —to replace existing assets Increase (decrease) in reserves Increase (decrease) of investments Total applications of capital funding (D) Surplus (deficit) of capital fund- ing (C − D) Funding balance ((A − B) + (C − D)) *Specify the actual years.
The actual year for [year −1], in both cases, is the year before the year of the annual plan.

The actual year for [year 1], in both cases, is the year of the annual plan to which the annual report relates.

17 Explanatory note Local Government (Financial Reporting) Regulations 2011 2011/249 Rebecca Kitteridge, Clerk of the Executive Council.

Explanatory note This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on the 28th day after their notification in the Gazette, prescribe matters that must be specified in the financial statements of local authorities and forms for funding impact statements required by Schedule 10 of the Local Government Act 2002.

The regulations also include directions for the preparation of funding impact statements.
Regulation 7 provides that the requirements of the regulations do not apply to a local authority’s long-term plan beginning on 1 July 2009 and still operative, its 2010/ 2011 or 2011/12 annual plan, or its annual reports for the years 2010/11 and 2011/12.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 14 July 2011.

These regulations are administered by the Department of Internal Affairs.
12 18 Wellington, New Zealand: Published under the authority of the New Zealand Government—2011