Regulations on annual budget, annual report and accounts for intermunicipal companies
Date FOR-1999-12-17-1568
Ministry Ministry of Local Government and Regional Development
Published Dept. In 2000 441
Commencement Budgetary and fiscal 2000
Edited
FOR-2013-11-27-1384 from 01/01/2014
Changes
For
Norway
Legal
LOV-1999-01-29-6-§18, LAW-1999-01-29-6-§27
Promulgated
Corrected 03.06.2005 (Annex placed)
Short Title
Regulation on budget, accounting mm IKS
Chapter Overview:
Main part
Annex
Adopted by Local Government and Regional Development (now Ministry of Local Government and Regional Development) on 17 December 1999 pursuant to the Law of 29 January 1999 no. 6 on intermunicipal companies § 18, no. 4 and § 27 no. 3 | || Changes: Amended by regulations 9 June 2009 No.. 853, November 27, 2013 No.. 1384.
§ 1 Scope These regulations apply to inter-municipal companies established by law on inter-municipal companies 29 January 1999 6.
§ 2. Annual budget Supervisory Board by year-end to determine binding economic framework for its operations and investments for the forthcoming calendar year. The Supervisory Board shall determine the remuneration of the Directors of the Company.
The board of the company determines the further distribution of the financial framework.
The full annual budget shall consist of
A)
a result listing compiled on the basis of similar principles and with the same specifications as the income statement
B)
an overview of the company's investments in the fiscal year and how these will be financed compiled on the basis of similar principles and with the same specifications as the summary to be provided in the notes to the financial statements in accordance with § 3, second paragraph.
§ 3. Annual report and accounts Interkommunale company has accounting obliga- as otherwise provided by law or regulation.
In the notes to the financial statements, the company will provide an overview of investments in the financial year and how they are financed as specified in Annex. Accounting Act § 7-1, third paragraph does not apply to such a view.
For each item in the income statement and investment section in accordance with the second paragraph should appear similar figures from the annual budget.
The annual report shall be submitted in accordance with the provisions of Accounting.
§ 4. Closing etc. The annual report shall be submitted by 15 February the following year. It will be revised by 15 March. The financial statements with the auditor's report and accounts shall be determined by the Supervisory Board before 1 May. The decision must specify the application of profit or covering of loss. Losses on financial statements that are not covered in the budget in the year accounts are submitted, are recognized to cover the following year's budget.
§ 5. The annual accounts, annual budget and accounts for municipal principles for an inter-municipal company for the partnership agreement shall submit accounts for municipal policies following special rules apply:
-
The annual report shall include management accounts, capital accounts, balance sheet and notes as set out in Annex. It should be based on the accounting principles laid down by the Local Government Act and regulations for municipal and county budgets and accounts.
-
The full annual budget, according to § 2 shall consist of an operating budget and capital budget as set out in Annex. It should be based on the budgetary principles laid down by the Local Government Act and regulations for municipal and county budgets and accounts.
-
The annual report shall be given information concerning factors that are important for judging the company's position and results of operations and not reflected in the financial statements, as well as other matters that are of significance for the company.
§ 6. Implementation These regulations come into force with effect from the budgetary and fiscal 2000.
Annex
A. Operating / -Accounting
Revenues
Revenues
Refunds
Transfers
Other operating income
Total revenue
expenditure
Salaries incl. Social spending
Purchases of goods and services
Transfers
imputed depreciation
Other operating expense
Total operating expenses Operating profit
Financial items Interest income Interest expenses
installment on loans
Received loan repayments
offsetting entry imputed depreciation
Basic earnings (earnings before internal financing transactions)
Internal financing transactions
provisions
Use of previous provisions
Used to finance expenditure in capital account
Accounting result (profit after internal financing transactions) || |
B. Capital Budget / -Accounting
Investments
Capital expenditures
Lending
Buying stocks
Total investments
Finance
Use of loan
Selling real estate
grants and rebates on investments | || Compensation for VAT
Received repayments of loans
Sales of shares
Contributions from this year's operating budget / -Accounting
Net provisions
Total financing
C. Required notes
Specification of
1.
Transfers between companies and participants
2.
Provisions / use of provisions
3.
External revenue and expenditure
4.
Distributable reserve
5.
Untied endowment fund
6.
Restricted endowment fund
7.
Bound driftsfond
8.
Capital account
9.
Liquidity.
D. Balance Sheet
Assets Fixed assets
Real estate and construction
equipment, machinery and transport
Lending
Shares and participations
Pension funds
Current assets Current receivables
Prize Deviation
Shares and participations
Certificates
Bonds
Derivatives
Cash, postal giro and bank deposits
Equity
Outline Fund
Restricted driftsfond
Unbound capital funds
Restricted endowment fund | || Accounting profit
accounting deficit
Liquidity
capital Account
debt
term liabilities
Bearer bonds
Pension liabilities
Certificates
Other loans
Current liabilities || | Kassekredittlån
Other payables
Derivatives
Prize Deviation
for all assets and liabilities shall debtor / creditor indicated by sector according to the current sectoral structure of the national accounts.
