Version No. 020
Financial Management Regulations 1994
S.R. No. 69/1994
Version incorporating amendments as at 1 September 1999
table of provisions
Regulation Page
ii
Regulation Page
PART 1—PRELIMINARY 1
1. Objective 1
2. Authorising provisions 1
3. Commencement 1
4. Revocation 1
5. Application 1
6. Definition 2
PART 2—COLLECTION OF REVENUE AND OTHER
RECEIPTS 3
7, 8. Revoked 3
9. Unidentified and surplus money and unpresented cheques 3
PART 3—INCURRING OF EXPENSES AND OBLIGATIONS 4
10. Limits on incurring of expenses and obligations 4
11. Expenses and obligations of Royal Commissions and Boards
of Inquiry 4
PART 4—DIRECTIONS 5
12. Directions of the Minister 5
PART 5—MISCELLANEOUS 7
13. Records of authorities subject to inspection by Department
of Treasury and Finance 7
______
SCHEDULE 8
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ENDNOTES 9
1. General Information 9
2. Table of Amendments 10
3. Explanatory Details 11
ii
Version No. 020
Financial Management Regulations 1994
S.R. No. 69/1994
Version incorporating amendments as at 1 September 1999
2
Part 1—Preliminary
Financial Management Regulations 1994
S.R. No. 69/1994
Part 1—Preliminary
1. Objective
The objective of these Regulations is to facilitate economic, effective and efficient financial management.
2. Authorising provisions
These Regulations are made under sections 8 and 59 of the Financial Management Act 1994.
3. Commencement
These Regulations come into operation on 1 July 1994.
4. Revocation
The Audit (Financial Management) Regulations 1993[1] are revoked.
Reg. 5 substituted by S.R. No. 57/1997
reg. 4.
5. Application
(1) These Regulations (other than Part 4) apply to—
(a) all departments; and
(b) the bodies set out in the Schedule with respect to the money specified in the Schedule.
(2) Part 4 applies to all authorities, public bodies, accountable officers and chief finance and accounting officers.
(3) The bodies set out in the Schedule are prescribed as authorities for the purposes of the Act.
6. Definition
r. 6
In these Regulations—
"the Act" means the Financial Management Act 1994.
______
Pt 2 (Heading) substituted by S.R. No. 77/1998
reg. 5.
Part 2—Collection of Revenue and other Receipts
Reg. 7 revoked by S.R. No. 215/1994
reg. 5.
* * * * *
Reg. 8 amended by S.R. No. 215/1994
reg. 6(a)–(c), revoked by S.R. No. 77/1998
reg. 6.
* * * * *
9. Unidentified and surplus money and unpresented cheques
r. 9
(1) Money received which cannot be identified or which is surplus must be paid to Treasury Trust Fund pending clarification.
(2) Cheques which remain unpresented after 15months must be paid to Treasury Trust Fund.
______
Pt 3 (Heading) substituted by S.R. No. 77/1998
reg. 7.
Part 3—Incurring of Expenses and Obligations
Reg. 10 substituted by S.R. Nos 215/1994
reg. 7, 77/1998
reg. 8.
10. Limits on incurring of expenses and obligations
r. 10
Expenses and obligations may be incurred or met by a person employed in a department only within the limits conferred on the person by the Minister administering the department.
11. Expenses and obligations of Royal Commissions and Boards of Inquiry
Reg. 11(1) amended by S.R. No. 77/1998
reg. 9.
(1) Expenses and obligations may only be incurred or met by a Royal Commission or Board of Inquiry—
(a) if authorised by an Order in Council; and
(b) to the extent of the maximum amount provided in the Order.
(2) The Order must be published in the Government Gazette within 14 days of the making of the Order and laid before both Houses of Parliament within that time or, if a House is not sitting, within 14days after the next meeting of that House.
(3) The maximum amount may be increased by a further Order in Council which must be published and tabled in the same manner.
______
Part 4—Directions
12. Directions of the Minister
r. 12
(1) The Minister may give to any authority or public body, an accountable officer or a chief finance and accounting officer directions in writing in relation to—
(a) the establishment and keeping of the accounts of authorities subsidiary to the Department of Finance's accounts including accounts of subsidiaries and related bodies;
(b) the collection of and accounting for public money and other money;
(c) the expenditure of and the accounting for the payment of public and other money;
(d) the establishment and maintenance of internal control standards, internal audit and audit committees;
(e) the form and content of financial statements, additional information requirements and reports of operations of—
(i) authorities and their subsidiaries and related bodies, including information to be disclosed in respect of affiliated bodies; and
(ii) public bodies;
(f) the preparation of performance indicators of authorities and all other bodies subject to any provision of the Act;
(g) the preparation, issue and amendment of accounting manuals of authorities;
(h) standards to be complied with and controls for computer—based accounting systems;
(i) required forms to be used;
(j) the destruction of accounting documents and other records;
Reg. 12(1)(k) substituted by S.R. No. 215/1994
reg. 8, amended by S.R. No. 77/1998
reg. 10(a).
(k) systems and procedures for the purchase and supply of goods and services for or on behalf of the State;
Reg. 12(1)(l) inserted by S.R. No. 215/1994
reg. 8, substituted by S.R. No. 77/1998
reg. 10(b).
(l) the management and disposal or writing off of the assets (other than money) and liabilities of the State and the recording of and accounting for those assets and liabilities;
r. 12
Reg. 12(1)(la) inserted by S.R. No. 77/1998
reg. 10(b).
(la) the writing off of amounts in respect of losses or deficiencies in public accounts or accounts of authorities or amounts of revenue or debts;
Reg. 12(1)(m) inserted by S.R. No. 215/1994
reg. 8.
(m) such other matters and things relating to the financial management of authorities and public bodies as the Minister thinks necessary to achieve the purposes of the Act.
______
Part 5—Miscellaneous
Reg. 13 amended by S.R. No. 77/1998
reg. 11.
13. Records of authorities subject to inspection by Department of Treasury and Finance
r. 13
A person employed in the Department of Treasury and Finance may inspect the accounting and financial records of an authority and report to the Minister any lack of uniformity in the form of the accounts or deficiency in the authority's system of accounts or internal controls.
______
Sch.
amended by S.R. Nos 57/1997 reg. 5, 77/1998
reg. 12(a)–(c).
SCHEDULE
Sch.
Regulation 5
Authority / Specified MoneyEnvironment Protection Authority / Money forming part of the Public Account
Marine Board / Money forming part of the Public Account
Roads Corporation / Money forming part of the Public Account
State Training Board / Money forming part of the Public Account
Victorian Casino and Gaming Authority / Money forming part of the Public Account
Victorian Health Promotion Foundation / Money forming part of the Public Account
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ENDNOTES
Endnotes
1. General Information
The Financial Management Regulations 1994, S.R. No. 69/1994, were made on 24 May 1994 by the Governor in Council under sections 8 and 59 of the Financial Management Act 1994, No. 18/1994 and came into operation on 1 July 1994: regulation 3.
The Financial Management Regulations 1994 will sunset 10 years after the day of making on 24 May 2004 (see section 5 of the Subordinate Legislation Act 1994).
2. Table of Amendments
This Version incorporates amendments made to the Financial Management Regulations 1994 by statutory rules, subordinate instruments and Acts.
Endnotes
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Financial Management (Amendment) Regulations 1994, S.R. No. 215/1994
Date of Making: / 20.12.94Date of Commencement: / Regulations 1–8 on 1.1.95: reg. 3(1), Regulation 9 on 1.2.95: reg. 3(2)
Financial Management (Amendment) Regulations 1997, S.R. No. 57/1997
Date of Making: / 24.6.97Date of Commencement: / 30.6.97: reg. 3
Financial Management (Amendment) Regulations 1998, S.R. No. 77/1998
Date of Making: / 30.6.98Date of Commencement: / 1.7.98: reg. 3
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
3. Explanatory Details
Endnotes
2
[1] S.R. No. 107/1993.