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Controlled entities

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2022-2023

  • Commentary
    An entity is a controlled entity if it is subject to the control of the local government. Control means the capacity of the local government to dominate decision making, directly or indirectly, in relation to the financial and operating policies of the entity.
    Section 213B of the Local Government Regulation 2012 requires that if the financial statements of a controlled entity of a local government are audited under the Auditor-General Act 2009, then the local government must:
    • obtain a copy of the audited financial statements; and
    • present them at the next ordinary meeting of the local government; and
    • publish a copy, or a link to the copy, on the local government’s website within 14 days after the financial statements are presented at the meeting.
    On 30 June 2023, the Central Highlands Regional Council (council) had one controlled entity:
    • Central Highlands Development Corporation Limited (CHDC)
    CHDC is a controlled entity of council due to council’s representation on the board.
    The board is comprised of seven directors, consisting of the mayor, three councillors (one appointed as an alternate director), and three independent community members. The company has its own chief executive officer who also acts as the secretary of the entity.  Council’s CEO acts as an observer on the board of CHDC.

     

    CHDC was formed in 1997 and is the lead economic and tourism development agency for the region. The company receives annual operational funding from council to help fund the delivery of projects and initiatives.

     

    The audited financial statements of CHDC for the year ended 30 June 2023 were presented at the general council meeting on 13 December 2023.

     

    The Central Highlands (QLD) Housing Company Limited (CHHC), is no longer a controlled entity of council following the decision by council to enter members voluntary liquidation on 12 September 2022. Control by council and the powers of the directors ceased on this date, with control transferring to the liquidator. The liquidator has now completed the process to distribute the assets to the Central Highlands Community Services Ltd, an entity with similar objects to CHHC. The final stage of the members voluntary liquidation is now being completed which involves the deregistration of CHHC by the Australian Securities and Investments Commission.
  • Audited financial statements

    CHDC 2022-23 audited financial statement

2021-2022

  • Commentary

    An entity is a controlled entity if it is subject to the control of the local government. Control means the capacity of the local government to dominate decision making, directly or indirectly, in relation to the financial and operating policies of the entity.

    At 30 June 2022 council had two controlled entities:

    • Central Highlands Development Corporation Limited (CHDC)
    • Central Highlands (QLD) Housing Company Limited (CHHC)

    CHDC was formed in 1997 and is the lead economic and tourism development agency for the Central Highlands region. The company has a chief executive officer and seven directors consisting of the mayor, two councillors, council’s chief executive officer and three independent community members.

    CHHC was formed in 2012 with a principal object to provide affordable housing in the council region. Directors of the company at 30 June 2022 were the mayor, three councillors and three invited community members. On 12 September 2022 the company entered members voluntary liquidation and a liquidator was appointed to take control and manage the wind down and de-registration of the company.

    Section 213B of the Local Government Regulation 2012 requires that if the financial statements of a controlled entity of a local government are audited under the Auditor-General Act 2009, then the local government must:

    • obtain a copy of the audited financial statements; and
    • present them at the next ordinary meeting of the local government; and
    • publish a copy, or a link to the copy, on the local government’s website within 14 days after the financial statements are presented at the meeting.

    The audited financial statements of CHDC for the year ended 30 June 2022 were presented at the general council meeting on 25 January 2023.

    The audited financial statement of CHHC for the year ended 30 June 2022 were presented at the general council meeting on 9 August 2023.

  • Explanatory note
    EXPLANATORY NOTE - CHDC
  • Audited financial statements

    CHDC 2021-22 audited financial statement

    Central Highlands QLD Housing Company 2021-22 audited financial statement

     

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