As a result of the local government reform process there are now 12 Aboriginal shire councils governed by the Local Government (Community Government Areas) Act 2004, and two Indigenous regional councils governed by the Local Government Act 1993. The two Indigenous regional councils are the Northern Peninsula Regional Council and the Torres Strait Island Regional Council.

For the 2009–10 year the two Indigenous regional councils (Northern Peninsula Regional Council and the Torres Strait Island regional Council) need to prepare financial statements that comply with all Australian Accounting Standards. This is in accordance with the requirements of the Local Government Act 1993.

Under the Local Government (Community Government Areas) Act 2004 the department sets the format in which the 12 Aboriginal shire councils must prepare their annual financial statements. For 2009–10 the 12 Aboriginal shire councils will need to prepare financial statements that comply with all Australian accounting standards except for the requirement to provide comparative data as at 1 July 2008. However, those Aboriginal shire councils who are ready to prepare financial statements that fully comply with all Australian accounting standards may do so, rather than waiting until 2010–2011 when it will be required by the new local government legislation.

• financial statement approved format for Aboriginal shire councils 2009–10 ( 114 KB)

As is previous years, illustrative financial statements for councils (commonly referred to as the ‘Tropical’ statements) have been prepared. These provide an example set of financial statements that councils can use as guidance when preparing their financial statements. These complement the format approved under the legislation, but are not compulsory.

• Tropical Council illustrative financial statements for 2009–10 ( 1.38 MB)