Document ID: chunk:federal_register_of_legislation:F2024L00665:clause:1_6:p6
Version: federal_register_of_legislation:F2024L00665
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 6/11)
Character Range: 16152–19231

activities identified have not occurred in the reporting period, a statement to this effect must be included either in the financial statements, the notes or in the officer's declaration statement (see Appendix 1).
     Report required under subsection 255(2A)
       (21)  Subsection 255(2A) of the 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.
       (22)  The 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
       (23)  The General Manager considers it best practice that the operating report:
            (a)    be signed by identified officer(s) of the reporting unit whose name(s) are clearly printed; 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
       (24)  For the purposes of paragraph 253(2)(c) of the Act, the reporting unit must prepare a committee of management statement containing declarations by the committee of management in relation to the GPFR.
       (25)  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 Australian Accounting Standards;
            (b)    the financial statements and notes comply with the reporting guidelines of the General Manager;
            (c)    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;
            (d)    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;
            (e)    during the financial year to which the GPFR relates and since the end of that year:
                (i)      meetings of the committee of management were held in accordance with the rules of the organisation including the rules of a branch concerned; and
                (ii)      the financial affairs of the reporting unit have been managed in accordance with the rules of the organisation including the rules of a branch concerned; and
                (iii)      the financial records of the reporting unit have been kept and maintained in accordance with the Act; and
                (iv)      where