FINANCIAL MANAGEMENT ACT 1994
Table of Provisions
PART 1--PRELIMINARY
- 1 Purposes
- 2 Commencement
- 3 Definitions
- 4 Act binds the Crown
- 5 Relevant Minister
- 6 Declaration of financial year
- 7 Delegation
- 8 Directions
PART 2--THE CONSOLIDATED FUND
- 9 The Consolidated Fund
- 10 Appropriation of Commonwealth grants etc.
- 11 Liability under guarantees
- 12 Loans from Consolidated Fund
PART 3--PUBLIC LEDGER AND PUBLIC ACCOUNT
- 13 Public ledger
- 14 Public Account
- 15 Accounts of departments
- 16 Receipt of public money
- 17 How money is to be issued
- 18 Investment of money in Public Account
PART 4--THE TRUST FUND
- 19 The Trust Fund
- 20 Deposits in Trust Fund
- 21 Investment of money in Trust Account
- 22 Expenditure of money in Trust Fund
- 23 Departmental Working Accounts
PART 5--FINANCIAL RESPONSIBILITY
Division 1--Introduction
Division 2--Principles of sound financial management
- 23C Government to operate in accordance with principles of sound financial management
- 23D Principles of sound financial management
Division 3--Financial policy objectives and strategies statements
- 23E Financial policy objectives and strategies statement
- 23F Purpose of statement
- 23G Content of statement
Division 4--Estimated financial statements and budget update
- 23H Estimated financial statements
- 23I Purpose of estimated financial statements
- 23J Content of estimated financial statements
- 23K Accompanying statement
- 23L Budget update
- 23M Purpose of budget update
- 23N Content of budget update
Division 5--Disclosure of financial results
Division 6--Pre-election budget update
- 27 Pre-election budget update
- 27A Purpose of pre-election budget update
- 27B Contents of pre-election budget update
- 27C Release of pre-election budget update
Division 7--Release of reports, statements and updates
- 27D Transmission of documents to Parliament
- 27DA Publication of documents protected
- 27E Release of estimated financial statements and budget financial policy objectives and strategies statement[1]
PART 6--BUDGET MANAGEMENT
- 28 Appropriation for borrowing against future appropriation
- 29 Appropriation of certain revenue and asset proceeds
- 30 Transfer between items of departmental appropriation
- 31 Transfer between items of Parliamentary appropriation
- 31A Transfer between items of Court Services Victoria appropriation
- 32 Unused appropriation
- 33 Appropriation to meet certain obligations
- 34 Reduction in amount applied to meet future payments
- 35 Temporary advances
- 36 Temporary advances to authorities
- 37 Issue of money out of Public Account
- 38 Application of money in Public Account to meet appropriations
- 39 Arrangements for temporary advances
- 40 Annual budget estimates
PART 6A--INDEMNITIES
- 40A Definitions
- 40B Provisions of this Part in addition to all other powers
- 40C Indemnity for directors
- 40D Indemnity for statutory authorities and State companies
- 40E Indemnity for owner of goods
- 40F Charge for indemnities
- 40G Confirmation of certain indemnities
- 40H Appropriation
PART 6B--GUARANTEE CHARGE
PART 6C--FINANCIAL ACCOMMODATION LEVY
- 40M Leviable authority
- 40N Financial accommodation levy
- 40O Leviable authority not liable to pay guarantee charge
PART 7--ACCOUNTABILITY AND REPORTING
- 42 Accountable officer
- 43 Chief finance and accounting officer and other persons
- 44 Accounts to be kept
- 44A Accountable officer of public body must provide financial information
- 44B Asset registers and risk management strategies
- 45 Report of operations and financial statements to be prepared
- 46 Tabling requirements
- 47 Minister may vary reporting requirements
- 48 Report of operations
- 49 Financial statements
- 50 Information
- 51 Relevant Minister may require additional information
- 52 Minister may direct public body to submit financial statements
- 53 Composite reports
- 53A Annual reports of State-owned corporations and other bodies
- 54 Part to prevail
PART 7A--SUPPLY MANAGEMENT
- 54AA Specified entities
- 54A Establishment of Victorian Government Purchasing Board
- 54B Functions of Board
- 54C Powers of Board
- 54D Membership of Board and terms of office
- 54E Payment of members
- 54F Procedure of Board
- 54G Validity of Board decisions
- 54H Members' pecuniary interests
- 54I Improper use of information
- 54J Delegation
- 54K Minister's directions
- 54L Supply policies
- 54M Annual report
PART 7B--ACQUISITION, LEASING AND LICENSING OF LAND AND PREMISES
- 54N Minister may acquire land
- 54O Minister may lease land or premises for other Ministers
- 54P Licensing and leasing of surplus Crown land and buildings
PART 7C--POWER TO WAIVE, DEFER, REFUND OR REDUCE FEES AND CHARGES UNDER ACTS, STATUTORY RULES AND OTHER SUBORDINATE INSTRUMENTS
- 54Q Application of this Part
- 54R Definitions for this Part
- 54S Fee or charge collector may waive, defer, refund or reduce fees and charges
- 54T Payment of refunds
- 54U Treasurer may make and publish guidelines
- 54V Part does not limit other powers
PART 8--GENERAL
- 55 Writing off
- 56 Recovery of overpayments
- 57 Liability in respect of loss or damage
- 58 Unclaimed property
- 59 Regulations
PART 9--TRANSITIONAL AND CONSEQUENTIAL
- 62 Transitional provisions
- 62A Further transitional provisions
- 63 References to receiver of revenue
- 64 Saving of payments under Mint Act 1958