Financial Management Act 1995

This Act may be cited as the Financial Management Act 1995.

This Act shall come into operation on a date to be fixed by the

Administrator by notice in the Gazette.

Accountable Officer means:

(a) in relation to an Agency – the chief executive officer (however described) of the Agency or a person whom the Treasurer declares in writing to be the Accountable Officer for the Agency for this Act; or

(b) in relation to the Central Holding Authority – the person whom the Treasurer declares in writing to be the Accountable Officer of the Authority for this Act.

Accountable Officer's Trust Account means an Accountable Officer's Trust Account established under section 7.

accounts mean the records, however compiled, recorded or stored (whether in written or printed form or on film or by electronic process or otherwise) of transactions in respect of money or property held by or for the Territory or an Agency, and includes books, documents, writings, money forms, vouchers and other recorded information of any kind from which accounts have been compiled.

Agency means a unit of government administration, or office or statutory corporation, nominated in an Administrative Arrangements Order as an Agency for the purposes of this Act, and includes, where the case requires, a part or division (by whatever name called) of an Agency.

appropriation means:

(a) an amount authorised to be paid from the Central Holding Authority pursuant to an Appropriation Act and includes any variation of that amount authorised in accordance with this or any other Act; or

(b) an amount required by any other Act to be provided from the public moneys of the Territory.

Appropriation Act includes a Supply Act, an annual Appropriation Act or an additional Appropriation Act which authorises an appropriation to a Purpose.

audit includes the inspection, investigation, examination and review of accounts and systems.

Central Holding Authority means the account by that name that forms part of the Public Account, as mentioned in section 4.

employee, in relation to an Agency, means a person employed by or in the business of the Agency, and includes the Accountable Officer.

expenditure means the payment of money for either actual or accrued expenses and includes an advance or transfer from an Operating Account.

Government Business Division means an Agency, or a part of an Agency, that:

(a) recovers a significant proportion of its operating costs through charges on users; and

(b) is determined by the Treasurer to be a Government Business Division.

internal control means the methods and procedures adopted within an Agency to do the following:

(b) safeguard its assets and manage its liabilities and contingent liabilities;

(d) maintain the accuracy and reliability of its accounting information;

loss includes the following:

(a) a loss of or deficiencies in money or property held by or for the Territory or an Agency;

(b) a loss arising out of the destruction, condemnation, obsolescence, abandonment, deterioration of or damage to property;

(e) a loss of money due to failure to assess and levy revenue and other amounts receivable.

money means cash or negotiable instruments collected, received or held by or due to a person for or on behalf of the Territory or an Agency or held in an official bank account and includes funds transferred electronically or by any other means.

National Health Reform Agreement, see section 3(1) of the NHFP Act.

NHFP account means either of the following established under the NHFP Act as an Operating Account for the Agency responsible for administering that Act:

NHFP Act means National Health Funding Pool and Administration (National Uniform Legislation) Act 2012.

official bank account means an official bank account opened by the Treasurer in pursuance of section 27.

Note

See section 27(7).

Operating Account means:

(a) a Government Business Division Operating Account, or an Agency Operating Account, established under section 6(1); or

Public Account means the account established under section 4.

Purpose means a Purpose specified under an Appropriation Act, whether or not it is also designated under that Act as any of the following:

receipts means money received into the Public Account and includes:

(a) a transfer, advance or other remittance within the Public Account; and

(b) the amount of the value of units in a unit trust held by or on behalf of the Territory credited to the Public Account; and

(c) the amount of the value of funds managed on behalf of the Territory credited to the Public Account.

securities include inscribed stock, debentures, bonds, debenture stock, notes and any other document creating, evidencing or acknowledging indebtedness (whether or not constituting a charge on property).

Treasurer's Advance means the Purpose to which an appropriation is made, that may be used as mentioned in section 18.

(2) A reference in this Act to a Minister in relation to an Agency (whether the relationship is by reference to the Accountable Officer, Operating Account or otherwise) is a reference to the Minister to whom the administration of the Agency, or the Act by or under which the Agency is established, is allotted under an Administrative Arrangements Order or an Act.

(1) The Treasurer shall establish and keep a Public Account of the receipts and expenditure of the Territory and Agencies.

Account.

(a) an Operating Account for each Government Business Division for which the Agency is responsible; and

(b) an Agency Operating Account for all other functions of the Agency.

Note for subsection (1)

The definition of Operating Account in section 3(1) includes each of the NHFP accounts. However, a reference to an Operating Account established under this Act is a reference to an account established under subsection (1).

(2) There must be paid into an Operating Account the following to the extent applicable to that Operating Account:

(a) payments from the Central Holding Authority in respect of the functions for which the Agency is responsible;

(b) for an Operating Account for a Government Business Division – all receipts of the Government Business Division;

(c) for an NHFP account – all receipts for the NHFP account including payments from the Commonwealth under the National Health Reform Agreement;

(d) other categories of receipts as are from time to time agreed by the Treasurer and the Minister and specified in the Treasurer's Directions issued under section 38.

(3) An amount of expenditure incurred may be paid from an Operating Account as follows:

(a) for an Operating Account established under this Act – by the Accountable Officer of the Agency that performs the functions for which the Operating Account exists;

(4) Subject to this Act and any other law of the Territory, if the Treasurer is satisfied at any time that there is available in an Agency Operating Account established under this Act a credit balance in excess of the amount reasonably required, the Treasurer may transfer the whole or a part of the excess from the Operating Account to the Central Holding Authority.

(5) The Accountable Officer of an Agency must keep in relation to his or her Operating Account established under this Act the accounts that are specified in the Treasurer's Directions.

Accounts as are required by or under this Act or any other law in force in the Territory to be established for the receipt of money by the Territory or an Agency to be held in trust.

Account all money required or permitted by this Act or any other law in force in the Territory to be held in trust by the Territory or an

Agency.

Account only for the purposes of the trust to which the money relates or for any other purpose authorised by this Act or any other law in force in the Territory.

Accountable Officer's Trust Account the accounts that are specified in the Treasurer's Directions.

Transparency Act 2001.

(1) The Treasurer must publicly release and table in the Legislative Assembly an annual financial statement for a financial year, in the form the Treasurer considers appropriate, within 4 months after the end of the financial year.

(1A) If the Legislative Assembly is not sitting when an annual financial statement is publicly released, the statement must be tabled in the Legislative Assembly when it next sits.

(2) The annual financial statement may incorporate the final fiscal results report for the financial year under the Fiscal Integrity and Transparency Act 2001.

(3) The annual financial statement is to include reports on the following during the financial year:

(a) all write-offs, waivers, postponements and gifts by the Treasurer under section 35;

(b) all ex gratia payments directed by the Treasurer under section 37.

(4) In tabling the annual financial statement, the Treasurer must include:

(b) a signed copy of the Auditor‑General's report on the statement under the Audit Act 1995.

(1) The Accountable Officer of an Agency responsible for a Government Business Division must prepare a financial statement in respect of the Government Business Division:

(2) A financial statement under subsection (1) must be prepared in such form as the Treasurer directs and, unless the Treasurer directs otherwise, be prepared on commercial accounting principles.

(3) The Accountable Officer must forward the financial statement to the Auditor-General who must audit the statement and report on the statement to the Minister and forward a copy of the report to the Accountable Officer.

(4) The Minister must publicly release and table in the Legislative Assembly the financial statement and the Auditor-General's report within 4 months after the end of the financial year or another period determined by the Treasurer.

(5) If the Legislative Assembly is not sitting when the financial statement and the Auditor-General's report are publicly released, the statement and the report must be tabled in the Legislative Assembly when it next sits.

(1) Subject to any other law of the Territory, the Accountable Officer of an Agency must, if the Treasurer directs the Accountable Officer to do so, prepare a financial statement in respect of the operations of, or specified functions of, the Agency for a financial year.

(2) The financial statement for the financial year must be in the form the Treasurer directs and must be prepared:

(3) The Treasurer may direct the Accountable Officer of an Agency to submit the financial statement directed to be prepared under subsection (1) to the Auditor-General who must audit it and report on the statement to the Minister and forward a copy of the report to the Accountable Officer.

(4) The Minister must publicly release and table in the Legislative Assembly the financial statement and any Auditor-General's report within 4 months after the end of the financial year or another period determined by the Treasurer.

(5) If the Legislative Assembly is not sitting when the financial statement and any Auditor-General's report are publicly released, the statement and the report must be tabled in the Legislative Assembly when it next sits.

All annual reports prepared under section 28 of the Public Sector

Employment and Management Act 1993 shall contain financial statements prepared under section 10 or, where a relevant direction by the Treasurer has been given, under section 11.