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The Finance Base
The Money Desk · Blog
Re:

City of Nedlands Sought More Time to File Its 2024–25 Financial Report

Nedlands commissioners voted in September 2025 to request more time for the City’s annual financial report. The City later said it was provided in November, while the audit remained in progress in February 2026.
From TheFinanceBase Team3 min to read
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On 17 September 2025, City of Nedlands commissioners unanimously asked the chief executive to seek an extension for the City’s 2024–25 annual financial report, proposing a new deadline of 15 November. The statutory deadline was 30 September. The stated reasons were finance-department resource constraints and the delayed completion of the previous year’s audit.

The vote authorised a request; it does not establish that an extension was granted. The City later reported that the 2025 financial report was provided in November, after the statutory deadline, while its February 2026 report said the audit was still in progress.

What commissioners decided

At its 17 September 2025 meeting, the City’s three commissioners voted unanimously, 3–0, to ask the chief executive to prepare and submit an extension request for the 2024–25 annual financial report. The proposed date was 15 November 2025, rather than the statutory 30 September deadline. The City’s meeting minutes record the resolution.

The decision concerned the deadline for preparing and submitting the annual report. It was not a finding that the report was accurate, an audit outcome, or confirmation that the extension application had been approved.

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Why the City asked for more time

The explanation in the council material, also reported by PerthNow on 25 September 2025, was that the finance department did not have enough capacity to prepare the next annual report while dealing with the late completion of the 2023–24 financial audit. PerthNow reported that the earlier audit was completed on 3 September, leaving little time before the 30 September deadline.

The staff report’s explanation, quoted by PerthNow, was: “Due to resourcing constraints within the finance department and the delayed completion of the financial audit for 2023-24, it has not been possible to devote resources to the preparation of the financial report.”

What happened after the request

In a report dated 5 February 2026, the City said its 2025 financial report had been provided in November 2025, after the 30 September statutory deadline. That establishes when the City said the report was provided; the available documents do not establish whether the requested extension was formally granted.

The same February report said the 2024–25 audit was still in progress. It forecast completion by 31 March 2026, conditional on outstanding information and issues being resolved. That was a projected date, not confirmation that the audit was completed or a statement of its eventual opinion. The City’s annual-report index lists the 2024–25 Annual and Financial Report, but the listing alone does not verify the audit date or result.

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How this fits into the City’s wider financial pressures

The extension request was about a specific reporting deadline. A later City report described broader financial and asset-management challenges, but its figures are estimates rather than audited outcomes.

In its 5 February 2026 report, the City estimated a $2.85 million deficit for 2025–26, a negative variance of $4.2 million against the approved budget surplus of $1.38 million. It warned that systemic and historical deficiencies in financial systems meant it could not have full confidence in the estimated position, including its forecast cash position at 30 June 2026.

The City also reported that it lacked an up-to-date long-term financial plan, rating and financing strategy, and asset management plan. It estimated about $41.8 million in unfunded asset renewal over the coming decade and a $24.18 million maintenance and renewal backlog. The same report put the infrastructure portfolio at $502.8 million and annual capital investment in infrastructure renewal at about $4.3 million. These are City-reported estimates and planning figures, not audited results or the subject of the September vote.

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Why commissioners were overseeing the council

The request came shortly after three commissioners took office on 25 July 2025, following councillor resignations that left the council unable to continue in its previous form. The Western Australian Government described addressing the Auditor General’s disclaimer on the 2022–23 financial audit and adopting the 2025–26 budget as priorities for the commissioners. This governance context helps explain the timing, but it does not change what the September resolution did: it authorised the CEO to seek more time for the 2024–25 report.

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