Standardisation of Chart of Accounts to continue in local government sector

Published on Wednesday, 29 December 2021 at 12:00:00 PM

The WA Department of Local Government, Sport, and Cultural Industries has approved another round of funding to support the standardisation of the Chart of Accounts (COA) across local governments.

The Standard COA program aims to create consistency across local government financial systems to make it easier to share reports, documentation, and staff across the sector. This includes the creation of a standard number system in SynergySoft for general ledger numbers, job numbers, cost centres, element types, trust accounts, and more. The Standard COA also meets all local government reporting requirements from the Australian Accounting Standards, Department of Local Government, Sport and Cultural Industries and Australian Taxation Office.

Since the COA funding announcement, IT Vision has been liaising with local government  across the State to gauge Expressions of Interest (EOIs) for their involvement in the project. The Shires of Capel, Mt Magnet, Quairading and Ravensthorpe are confirmed to undertake the restructure, with another two local governments eligible to receive funding support.

The standard COA program was an initiative launched and lead by the IT Vision User Group, with experienced IT Vision consultants brought on board to implement and execute the program in partnership with LG Professionals WA.

“We have a very fruitful and longstanding relationship with IT Vision and this engagement that we have, together with a number of local governments, is something we really appreciate as it allows us to continue to enhance local government systems,” said Candy Choo, Chief Executive Officer at LG Professionals WA.

The following Local Government have either already adopted, or are in the process of adopting, the Standard COA:

  • Shire of Carnamah
  • Shire of Chittering
  • Shire of Coorow
  • Shire of Derby West Kimberley
  • Shire of Dowerin
  • Shire of Dumbleyung
  • Shire of Exmouth
  • Shire of Gingin
  • Shire of Koorda
  • Shire of Laverton
  • Shire of Menzies
  • Shire of Merredin
  • Shire of Mingenew
  • Shire of Nannup
  • Shire of Plantagenet
  • Shire of Three Springs
  • Shire of Wickepin
  • Shire of Wyalkatchem
  • Shire of Yalgoo

 

“I would strongly encourage Local Governments to be part of the Chart of Accounts program. With the support from Local Government Professionals WA, Department of Local Government, Sport, and Cultural Industries, and IT Vision, we will make this as seamless as possible.” – Candy Choo, Chief Executive Officer at LG Professionals Australia

The Standard COA is an important step in the process of getting ‘Altus ready’. If your organisation is ready to transition to the Altus platform, there are a number of other data readiness initiatives you can start to consider and prepare for now. Contact your Account Manager to discuss your level of readiness and how best to prepare and plan.

“With the Chart of Accounts program, you can streamline reporting and share resources easily – your neighbour can help with payroll, rates, anything really, with much more ease. The basic numbering system is logical and can be expanded or reduced to suit all local governments big or small. The benefits are endless.”  – Rhona Hawkins, Executive Consultant at LG Best Practices

“Local Governments are an incredible sector who get involved in a lot of different areas, especially in regional areas. It is very important, especially for the less resourced Local Governments, that they are working on their systems as much as working within them. Resource constraints make it difficult to find time to investigate solutions to enhance their systems. With COA, Local Governments can work together to enhance efficiency internally.” – Candy Choo, Chief Executive Officer at LG Professionals Australia

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