Notification to establish a Financial Reserve Account

Published on Monday, 11 March 2024 at 12:19:47 PM

Notification to establish a Financial Reserve Account


In accordance with Section 6.11 of the Local Government Act 1995 (the Act), the Shire of Victoria Plains is required to provide local public notice of the proposed use of Reserve fund.


1 Purpose


The Shire is proposing to establish a Reserve Account to hold unclaimed / unallocated monies that have been paid to the Shire over a number of years but have been unable to be identified as to what the payment is for.

The Reserve account will be titled Unallocated Monies with the purpose of future refund or allocation once identified or transferred to shire general revenue after the statutory period has expired. 

2 Objectives


The establishment of this Reserve fund will:


  1. Address the management audit finding by transferring unallocated monies from the suspense account.


  1. Will continue to be supported and reconciled by a spreadsheet that provides as much detail as possible on each transaction.


  1. Provide a facility where unclaimed / unallocated monies can be transferred back to general revenue after the ten (10) year statutory period.


3 Submissions 

Written submissions may be made to the Shire of Victoria Plains –


Submissions close at 4.00pm on Tuesday 16 April 2024.


Sean Fletcher

Chief Executive Officer