From 1 January 2019, any organisation or entity receiving Council funding that totals more than $15,000 per annum in any financial year must provide a set of Audited Financial Statements to Council.

Some organisations may be exempt in alignment with the auditing requirements of the Australian Charities and Not-for-profits Commission. This applies to all organisations, individuals and entities that receive grant funding, including but not limited to Community Grants, Event Grants, Venue Hire Grants, Heritage Building Grants, Micro Grants, Councillor Ward Discretionary Funds, rental subsidies, sponsorship and/or donations in both cash and in-kind funding. Failure to do so will render new applications ineligible.
 

What does this mean for you?

Grant and funding recipients should keep a tally of all funding (cash and in-kind) received from Council during the financial year. If the total amount is more than $15,000 on 30 June, you must have your organisation's financial accounts audited, and the Audited Financial Statements forwarded to Council's Grants Officer. Any grant applicants who cannot meet this condition will be deemed ineligible to receive Council funding in the future. 

If Audited Financial Reports have not already been prepared through annual reporting processes, please use this Financial Statement Template. It has been designed by Council to help community organisations meet their fundamental financial reporting obligations. Please note:  

• These requirements only apply to recipients of Council funding totalling more than $15,000. They do not apply to recipients of funding below this threshold.

• All grant recipients must still meet their existing reporting and acquittal obligations for previous grant rounds.

For more information, please contact Council's Grants Officer on (02) 9330 6050 or grants@georgesriver.nsw.gov.au.