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New Look Accounts

After several years of either snide, or direct criticism of the TCDC accounts, I have to change horses this month, and offer congratulations to all concerned for the easily understanable format now adopted and in use. If you have despaired in the past, take a look at this format - you may be pleasantly surprised.

Of even greater importance was Steve Baker's announcement yesterday that they are currently running a $1m operating expenditure surplus - an unheard situation, and one that will do standing members chances in the next election no harm, though their input to this situation has been minimal, if not zero. Staff are predicting elimination of the underlying debt within ten years at current rates, but I have no doubt that there are already new capital projects being dreamt up as we speak.

I think that the Prince2 Contract Management system that the Council invested in must be given substantial credit for this turnaround. Along with many others, I approached this new method of structuring the goverance/management role with considerable scepticism. But the training at every level of management in modern methods of oversight and contract control appears to be paying off. Check it out on Wikepedia if you are interested in the methodology.  It goes well beyond the usual management guru gobbledegook.

It is also interesting to note that $20k has been put aside for additional internal audit procedures at the request of the Audit Committee, and advisory member. Most rate-payers are under a complete misaprehension regarding the scope of the Auditor General's process - its internal audit is a complete joke. Our Council needs a regular and effective independent internal audit.

Plaudits to all concerned.




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