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Puddle Account year ended 30 June 2017

The 30 June 2017 Puddle model account have been released. VicWater and the Finance Issues Steering Committee is very grateful for the contribution of PwC and VAGO to the preparation of the account.

During 2016 the VicWater Finance Issues Steering Committee reviewed its approach to delivering the Puddle Account and decided to proceed with a paid model. This change in approach coincides with the Victorian Government’s adoption of a new accounting approach called ‘streamlined reporting’. Under ‘streamlined reporting’ disclosures are reordered such that the most material is placed first. This change will have significant implications for the delivery of the Puddle Account, because it will no-longer be a relatively simple process of taking the DTF model account and removing the extraneous bits.

Earlier in 2017, VicWater invited all water corporations to subscribe to the new model for the Puddle Account for four years 2017-20. All regional and rural water corporations, together with Yarra Valley Water took up the offer. Water corporations that do not make a financial contribution to the project will not be able to participate in the transition project or receive a copy of the Puddle Account. For further information, contact James Cleaver james.cleaver@vicwater.org.au.