It states that:
(1) A Council must prepare a budget for each financial year.
(2) The Council must ensure that the budget contains—
(a) the standard statements in the form and containing the matters required by the regulations;
(b) a description of the activities and initiatives to be funded in the budget;
(c) a statement as to how the activities and initiatives described under paragraph will contribute to achieving the strategic objectives specified in the Council Plan;
(d) separately identified Key Strategic Activities to be undertaken during the financial year and performance targets and measures in
relation to each Key Strategic Activity;
(e) any other details required by the regulations.
(3) The Council must ensure that the budget also contains—
(a) the information the Council is required to declare under section 158(1);
(b) if the Council intends to declare a differential rate under section 161, the details listed in section 161(2);
(c) if the Council intends to declare a differential rate under section 161A, the details listed in section 161(2).
- AASB 1055 (Budgetary Reporting)