Victorian Consolidated Legislation

Financial Management Act 1994 - SECT 23N

Content of budget update

23N. Content of budget update





(1) A budget update comprises updated estimated financial statements.



(2) The updated estimated financial statements must-

   (a)  take into account Government decisions and other circumstances that
        may have a material effect on them;

   (b)  state the date on which the updating was undertaken.

(3) A budget update must be prepared-

   (a)  on a basis consistent with the current financial policy objectives and
        strategies statement; and

   (b)  in the manner and form determined by the Minister, having regard to
        appropriate financial reporting frameworks.

(4) If particular information required to be included in a budget update is
unchanged from information set out in full in the estimated financial
statements, the update may instead summarise the information and state that it
is unchanged from what was set out in the estimated financial statements.









Division 5-Disclosure of financial results