Western Australian Current Regulations

LOCAL GOVERNMENT (FINANCIAL MANAGEMENT) REGULATIONS 1996 - REG 31

31 .         Net current assets at start of financial year to be shown

        (1)         The annual budget is to include the net current assets carried forward from the previous financial year.

        (2)         If at the time of preparation of the annual budget the net current assets is not known, an estimate of that figure may, if it is disclosed as an estimate, be included in the annual budget.

        (3)         The annual budget is to include or be accompanied by notes containing —

            (a)         a summary explaining the composition of the net current assets; and

            (b)         if the net current assets differs from the figure used in the statement of financial activity, a disclosure of the difference and a brief explanation of the reason for the difference.

        [Regulation 31 amended: Gazette 20 Jun 1997 p. 2840‑1; SL 2023/106 r. 15.]