Document ID: chunk:federal_register_of_legislation:F2024L00670:reg:12:p1
Version: federal_register_of_legislation:F2024L00670
Segment Type: reg
Provision Reference: reg 12 (pt 1/2)
Character Range: 20470–23687

12  Conditions relating to annual reports
       (1)    An annual report for the purposes of paragraph 11(1)(b) must include:
            (a)    a written financial statement of the CEO (CEO's financial statement);
            (b)    a written report from an appropriate auditor (auditor's report); and
            (c)    a written statement of accountability by the CEO (CEO's statement of accountability).
              Note: The term 'appropriate auditor' is defined in section 4 of the Act.
       (2)    The CEO's financial statement must specify:
            (a)    the total of Roads to Recovery payments that:
                (i)            the funding recipient has remaining or is payable from the previous financial year; (the amount brought forward from previous financial year)
                      Note:  The amount brought forward from previous financial year may be a negative amount if the funding recipient has accrued expenditure on a Roads to Recovery project in the previous financial year, but did not receive Roads to Recovery payments for those amounts expended during that financial year.
                (ii)            the funding recipient has received in the financial year to which the statement relates (the amount received);
                (iii)            the funding recipient had available in the financial year to which the statement relates (the amount available for expenditure);
                      Note:  The amount available for expenditure is to include the amount received plus the amount brought forward from previous financial year, but does not include any interest that may have been earned on Roads to Recovery payments.
                (iv)            the funding recipient spent during the financial year to which the statement relates (the amount expended);
                      Note:  The amount expended is to be reported on an accrual basis, that is, it should reflect the amount of expenses incurred by the funding recipient on Roads to Recovery projects during the relevant annual reporting period, even if the expenses will not be paid for by the funding recipient or a Roads to Recovery payment received by the funding recipient until a future annual reporting period.
                (v)            remains unspent or payable at the end of the financial year to which the statement relates (the amount carried forward to next financial year); and
                      Note:  The amount carried forward to next financial year may be a negative amount if the funding recipient has accrued expenditure on a Roads to Recovery project in the financial year, but did not receive Roads to Recovery payments for those amounts expended during the financial year.
            (b)    the amount of own source expenditure during the year to which the statement relates.
                  Note:  The term 'own source expenditure' is defined in subsection 10(1) of this Determination.
       (3)    The auditor's report must specify whether in the auditor's opinion the CEO's financial statement:
            (a)    is based on the funding recipient's proper accounts and records;
            (b)    is in agreement with the funding recipient's accounts and records;