Financial Services oversees the finance, accounting, accounts payable and receivable functions for Council.
Income for Tiwi Islands Regional Council is generated by rates, Northern Territory Government grants and Australian Government grants and subsidies, charges , service fees and interest. Rates are set in July, in accordance with the Local Government Act and the formal budgets are prepared every year.
Program budgets provide information on the services and costs associated with each individual program. Budget papers are available for public scrutiny in Council’s website.
Tiwi Islands Regional Council’s management planning process involves a Council Plan (incorporating the Budget). These plans assist in monitoring performance to ensure agreed aims are achieved. Tiwi islands Regional Council’s plans all comply with the Local Government Act.
The majority of the functions performed by Financial Services help support the other sections to provide services to the community.