If the VGC receives letters from the relevant authority between Nov-Feb, we will follow up with councils to complete the Natural Disasters tab to enable payment in the next allocation. Natural Disaster claims Natural Disaster Assistance Natural Disaster claims should be processed in the usual way through Department of Treasury & Finance. Please state if Council has submitted a natural disaster claim. Nature of Event ie flood, fire, wind, etc (26000, 26050, 26110) Date of Event (26010, 26060, 26120) Council Contribution claimed (26020, 26070, 26130) Is DTF approval provided ? (26030, 26080, 26140)
Employee Benefits (Column 1) Includes all labour related expenditure for staff (full-time, part-time and casual) and the Mayor and Councillors allowances and salaries and on-costs (include allowances, salary package components such as cars etc) leave entitlements - annual leave and long service leave superannuation rostered days off, overtime, etc fringe benefits tax and work cover redundancy Mayor and Councillor allowances Superannuation – refers to superannuation expenses accrued under a funded scheme for services provided by employees in the current period. A funded scheme is a separately constituted legal entity into which an employer contributes, on a regular basis, an amount actuarially determined to fully fund future superannuation liabilities. Where possible, provide superannuation by function area, otherwise include in Governance. Materials and Services (Column 2) Includes the purchases of consumables, payments of contractors for the provision of services and utility costs. Costs of works undertaken on behalf of VicRoads should be included. Depreciation and Amortisation (Column 3) Depreciation and amortisation expenses associated with the use of a Council controlled asset. Finance Costs (Column 4) Includes borrowing costs relating to interest charged by financial institutions on funds borrowed such as bank overdraft charges, interest on borrowings and interest of finance leases. Other Recurrent Expenses (Column 5) All other expenses related to a range of unclassified items including contributions to community groups, advertising, insurances, motor vehicle registrations and other miscellaneous expenditure items. Bad and doubtful debts are also included in this category. If in doubt whether expenses are other expenses or materials and services, place them in materials and services category. Expenditure (Column 6) Total of all of the above expenses columns. This should reconcile with the Income Statement. Revenue column headings Revenue
Capital Outlays & Sales All assets, whether new or second hand, are to be included. Please note: The rule of materiality (refer to AAS5) applies with regard to asset acquisition and disposal. Only show gross capital outlays - the disposal value of any asset that has been traded-in should be identified under capital asset sales. Function descriptions are the same outlined in the VGC1 section, 7-18. Land (Columns 1 & 8) Purchases of land (vacant or otherwise) either on the open market or through compulsory acquisition. Include purchase of land for road reserves and public open spaces. Buildings (Columns 2 & 9) Include: purchase of existing buildings and dwellings. construction cost of new buildings and dwellings. expenditure on extensions and renovations which serve to enhance/increase the value of the building. Note: If a property with an existing building was purchased for its land only and that building is to be/has been demolished, this acquisition should be identified Land. Construction (Column 3) Expenditure on construction except for buildings above). Include new works and reconstruction of roads (refer Australian Standard 1348 – Road and Traffic Engineering for definitions). With respect to roads and bridges, include land clearing and earthworks, construction or reconstruction and widening of pavements, shoulders and medians. Office Equipment (Columns 4 &10) Expenditure on office equipment and furniture eg. computers, printers, typewriters, chairs, etc. Transport equipment (Columns 5 & 11) Expenditure on equipment related to the Transport program to Transport Integration Act 2010). Other (Columns 6 & 12) All other expenditure on capital assets Total (Columns 7 & 13) The total of the above items