Document ID: chunk:federal_register_of_legislation:F2018L00591:body:0:p7
Version: federal_register_of_legislation:F2018L00591
Segment Type: other
Provision Reference: 
Character Range: 17716–20663

cash and cash equivalents and shall present a reconciliation of the amounts in its statement of cash flows with the equivalent items in the statement of financial position.

Report required under subsection 255(2A)
26.          Subsection 255(2A) of the RO Act requires a reporting unit to prepare a separate report that shows the total expenditure incurred by the reporting unit during the financial year in relation to each of the following:
       a)             remuneration, and other employment-related costs and expenses, in respect of employees;
b)             advertising;
c)              operating costs;
d)             donations to political parties;
e)             legal costs.
27.          The RO Act allows for this total expenditure to be shown in diagrammatic form however it is not compulsory to present this information in diagrammatic form and it is at the discretion of the reporting unit on how to present this information in the report.  The information is only required to be reported in one format, that is, in either a descriptive form or a diagrammatic form.

Operating report
28.          The Commissioner considers it best practice that the operating report that is required to be prepared under section 254 of the RO Act:
       a)             be signed and name printed by officer(s) of the reporting unit; and
       b)             be dated by each officer who has signed the report as at the date on which the officer signs the report.

Committee of management statement
29.          For the purposes of subparagraph 7(d) of these guidelines, the reporting unit must prepare a committee of management statement containing declarations by the committee of management in relation to the GPFR.
30.          The committee of management statement must include declarations by the committee of management as to whether in their opinion:
       a)             the financial statements and notes comply with the reporting guidelines of the Commissioner for the purposes of section 270 of the RO Act;
       b)             the financial statements and notes give a true and fair view of the financial performance, financial position and cash flows of the reporting unit for the financial year to which they relate;
       c)              there are reasonable grounds to believe that the reporting unit will be able to pay its debts as and when they become due and payable;
       d)             during the financial year to which the GPFR relates and since the end of that year:
           1. meetings of the committee of management were held in accordance with the rules of the organisation; and
           2. the financial affairs of the reporting unit have been managed in accordance with the rules of the organisation; and
           3. the financial records of the reporting unit have been kept and maintained in accordance with the RO Act; and
           4. where information has been sought in any request by a member