Goulburn Mulwaree Council in regional New South Wales is using an innovative financial modelling program to help Councillors and non financial staff better understand the long term impact of financial decisions. Introduced in 2007, the computer based model allows Council’s finance staff to enter the cost of projects into an Excel spreadsheet and have the analysis displayed in graphs.
Council’s Manager of Finance, Brendan Hollands, said Council recognised it was necessary to turn complex and specialised processes into simple concepts, able to be understood by all Councillors, regardless of their professional and intellectual capabilities.
“The graphs have an immediate visual impact and are easily understood by Councillors,” he said. “The graphs update in real time as costs are changed in the spreadsheet. This enables Councillors to see the impact of cost blowouts and savings and allows them to make better informed decisions regarding Council projects.”
The program is able to generate graphs of Council’s overall financial position, as well as for individual business units. This means results against industry, and similar Council groupings can easily be benchmarked.
The program was developed by consultants, KPMG, in consultation with Goulburn Mulwaree Council, which helped to adapt the financial modelling components to suit its organisational needs.
For more information contact Goulburn Mulwaree Council’s Director of Corporate Services, Dirk Holwerda, on (02) 4823 4426.
