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This is a Bill, not an Act. For current law, see the Acts databases.
FINANCIAL MANAGEMENT AMENDMENT BILL 2002
2002
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Financial
Management Amendment Bill 2002
Contents
Page
2002
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Financial Management
Amendment Bill 2002
A Bill for
An Act to amend the
Financial Management Act
1996
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the Financial Management Amendment Act 2002.
This Act commences on a day fixed by the Minister by written
notice.
Note 1 The naming and commencement provisions automatically commence
on the notification day (see Legislation Act 2001, s 75).
Note 2 A single day or time may be fixed, or different days or times
may be fixed, for the commencement of different provisions (see Legislation
Act 2001, s 77 (1)).
Note 3 If a provision has not commenced within 6 months beginning on
the notification day, it automatically commences on the first day after that
period (see Legislation Act 2001, s 79).
This Act amends the Financial Management Act 1996.
Note This Act is amended in the body of this Act and in sch
1.
4 Departmental
budgetsSection 12 (1) (c)
(ii)
omit
repaid.
substitute
repaid; and
insert
(d) a statement of the financial targets of the department’s
operations during the year for which the chief executive of the department will
be responsible.
6 Variation
of appropriations for Commonwealth
grantsSection 17 (2)
(a)
substitute
(a) an appropriation to which this section applies is to be funded in
whole or in part by a payment made to the Territory by the Commonwealth for a
nominated purpose; and
7 Payments
in anticipation of appropriation or
supplySection 18A
omit
8 New
sections 19C to 19E
insert
19C Amendment of conditions of capital
injection
(1) If a capital injection is given under conditions set out under
section 12 (1) (c) (ii) (Departmental budgets) in a statement included in a
proposed budget for a department for a financial year, the Treasurer may, in
writing, amend the conditions.
(2) An amendment of the conditions of the capital injection must state the
Treasurer’s reasons for the amendment.
(3) An amendment of conditions of a capital injection is a notifiable
instrument.
Note A notifiable instrument must be notified under the
Legislation Act 2001.
19D Amendment of performance
criteria
(1) The responsible Minister of a department may, in writing, amend the
performance criteria set out under section 12 (1) (b) in a statement included in
a proposed budget for the department for a financial year.
(2) Without limiting subsection (1), the responsible minister may amend
the performance criteria if—
(a) the appropriations for the department for the financial year are
varied under section 14 or 17; or
(b) the Executive gives a direction under section 15 (1) in relation to an
appropriation made for the department; or
(c) funds are transferred to or from the department under section 16;
or
(d) funds are given to the department under section 18 (Treasurer’s
advance); or
(e) funds mentioned in section 19B (Authorisation of expenditure of
certain Commonwealth grants) are given to the department; or
(f) changes happen in the priorities of the department; or
(g) the Minister is satisfied that performance criteria (other than those
stated in the budget) should be adopted for the provision of outputs by the
department.
(3) An amendment of performance criteria must be made in such a way that
the department’s budget as amended will comply with section 12
(3).
(4) An amendment of performance criteria is a notifiable
instrument.
Note A notifiable instrument must be notified under the
Legislation Act 2001.
(5) In this section:
budget, for a department for a financial year, means the
budget for the department for the financial year presented to the Legislative
Assembly under section 10 (b) (Budget papers) and, if that budget has previously
been amended under this Act, the budget as amended.
19E Amendment of financial
targets
(1) The Treasurer may, in writing, amend the financial targets set out in
a statement under section 12 (1) (d) (Departmental budgets) included in a
proposed budget for a department for a financial year.
(2) An amendment of the financial targets must state the Treasurer’s
reasons for making the amendment.
(3) An amendment of financial targets is a notifiable
instrument.
Note A notifiable instrument must be notified under the
Legislation Act 2001.
9 Audit
of annual financial statementsSection 24
(1)
substitute
(1) The Treasurer must give the auditor-general a copy of the annual
financial statements of the Territory for a financial year within 3 months
after the end of the year.
10 Annual
financial statements of departmentsSection
27 (2)
omit
that was presented to the Legislative Assembly under section 10
(b)
11 New
section 27 (3) (ba)
insert
(ba) if a change was made during the year to the conditions of a capital
injection set out under section 12 (1) (c) (ii) (Departmental budgets) in a
statement included in a proposed budget for the department for a financial
year—a statement of the change and the reasons for it; and
omit
presented to the Legislative Assembly under section 10 (b)
insert
(5) In subsections (2) and (4):
budget, for a department for a financial year, means the
budget for the department for the year presented to the Legislative Assembly
under section 10 (b) (Budget papers) and, if that budget has been amended under
this Act, the budget as amended.
substitute
29 Audit of financial statements of
departments
(1) The responsible chief executive of a department must give the
auditor-general a copy of the financial statements of the department for a
financial year as soon as practicable after the statements are
prepared.
(2) The copy of the financial statements given to the auditor-general
under subsection (1) must have endorsed on them, or attached to them, a signed
copy of the statement of responsibility made for the financial statements under
section 28.
(3) The auditor-general must give the responsible chief executive an audit
opinion about the financial statements as soon as practicable after the
auditor-general receives them.
15 Responsibilities
of chief executives of departmentsSection
31 (2) (a) and (b)
substitute
(a) that money spent by the department is spent in accordance with
appropriations made for the department (including appropriations available under
section 34B); and
(b) that the operations of the department in a financial year give the
financial targets at the end of the year set out in the statement of financial
targets in the proposed budget for the department for the year (or, if the
statement has been amended by the Treasurer, in the amended statement) to be
targets for which the chief executive is responsible; and
16 Departmental
banking accountsSection 34
(3)
substitute
(3) A departmental banking account must not, without the Treasurer’s
written approval, be opened or maintained otherwise than with an authorised
deposit-taking institution with which an agreement is in force under section
32.
insert
36A Transfers from departmental banking accounts to
Territory banking account
If, in the Executive’s opinion, it is desirable for the management of
the public money of the Territory to transfer an amount held in a departmental
banking account to the Territory banking account, the Executive may direct that
the transfer be made.
substitute
37 Payments from Territory banking
account
19 Section
37 (1) and (2)
substitute
(1) An amount must not be paid out of the Territory banking account except
to a departmental banking account under an appropriation.
substitute
46 Payments by Treasurer
The Treasurer may, without further appropriation, make payments needed
for—
(a) payment of interest on borrowings made for the Territory; or
(b) repayment of borrowings made for the Territory; or
(c) payment of the expenses of making or repaying borrowings for the
Territory.
21 Departmental
trust banking accountsSection 51
(3)
substitute
(3) A trust banking account must not, without the Treasurer’s
written approval, be opened or maintained otherwise than with an authorised
deposit-taking institution with which an agreement is in force under section 32
(Agreement for the conduct of banking for Territory).
22 Banking
accountsSection 55 (3)
substitute
(3) A banking account of a Territory authority must not, without the
Treasurer’s written approval, be opened or maintained otherwise than with
an authorised deposit-taking institution with which an agreement is in force
under section 32 (Agreement for the conduct of banking for Territory).
23 InvestmentSection
56 (3)
omit 1st mention of
Territory
substitute
Treasurer
substitute
(4) However, if an investment of funds of a Territory authority is made or
managed with the assistance of a department, a fee charged by the department for
giving the assistance may be deducted from interest received for the investment
and paid to the department.
substitute
61 Audit of annual financial
statements
(1) The chief executive of a Territory authority must, within the
prescribed period after the end of a financial year, give the auditor-general a
copy of the financial statements of the authority for the year.
(2) The copy of the financial statements given to the auditor-general
under subsection (1) must have endorsed on them, or attached to them, a signed
copy of the statement of responsibility made for the financial statements under
section 60.
(3) The auditor-general must give the chief executive officer an audit
opinion about the financial statements as soon as practicable after the
auditor-general receives them.
Schedule
1 Minor amendments of Financial
Management Act 1996
(see s 3)
omit
provide the Treasurer with an audit opinion concerning the
statements
substitute
give the Treasurer an audit opinion about the statements
substitute
25 Presentation of annual financial statements to
Legislative Assembly
[1.3] Section
25A (4) (b)
omit
targets
substitute
criteria
relocate as section 30A
renumber paragraphs when Act next republished under Legislation Act
2001
substitute
28 Responsibility for annual financial
statements
substitute
30 Presentation of annual financial
statements
renumber subsections when Act next republished under Legislation Act
2000
omit
forward
substitute
give
[1.10] Dictionary,
definition of warrant
omit
Endnote
Republications of amended laws
For the latest republications of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2002
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