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
PART 1—PRELIMINARY
1.
2.
3.
4.
5.
6.
1
Objective
Authorising provisions
Commencement
Revocation
Application
Definition
1
1
1
1
1
2
PART 2—COLLECTION OF REVENUE AND OTHER
RECEIPTS
3
7, 8. Revoked
9.
Unidentified and surplus money and unpresented cheques
3
3
PART 3—INCURRING OF EXPENSES AND OBLIGATIONS
4
10.
11.
Limits on incurring of expenses and obligations
Expenses and obligations of Royal Commissions and Boards
of Inquiry
PART 4—DIRECTIONS
12.
4
5
Directions of the Minister
5
PART 5—MISCELLANEOUS
13.
4
7
Records of authorities subject to inspection by Department
of Treasury and Finance
__________________
SCHEDULE
7
8
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i
Regulation
Page
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
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
19931 are revoked.
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.
1
Reg. 5
substituted by
S.R. No.
57/1997
reg. 4.
Financial Management Regulations 1994
S.R. No. 69/1994
Part 1—Preliminary
r. 6
(3) The bodies set out in the Schedule are prescribed
as authorities for the purposes of the Act.
6. Definition
In these Regulations—
"the Act" means the Financial Management
Act 1994.
_______________
2
Financial Management Regulations 1994
S.R. No. 69/1994
Part 2—Collection of Revenue and other Receipts
r. 9
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
(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
15 months must be paid to Treasury Trust Fund.
_______________
3
Financial Management Regulations 1994
S.R. No. 69/1994
Part 3—Incurring of Expenses and Obligations
r. 10
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
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
14 days 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.
_______________
4
Financial Management Regulations 1994
S.R. No. 69/1994
Part 4—Directions
r. 12
PART 4—DIRECTIONS
12. Directions of the Minister
(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;
5
Financial Management Regulations 1994
S.R. No. 69/1994
Part 4—Directions
r. 12
(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;
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.
_______________
6
Financial Management Regulations 1994
S.R. No. 69/1994
Part 5—Miscellaneous
r. 13
PART 5—MISCELLANEOUS
13. Records of authorities subject to inspection by
Department of Treasury and Finance
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.
__________________
7
Reg. 13
amended by
S.R. No.
77/1998
reg. 11.
Financial Management Regulations 1994
S.R. No. 69/1994
Sch.
Sch.
amended by
S.R. Nos
57/1997 reg. 5,
77/1998
reg. 12(a)–(c).
SCHEDULE
Regulation 5
Authority
Specified Money
Environment Protection Authority
Money forming part of the Public
Account
Money forming part of the Public
Account
Money forming part of the Public
Account
Money forming part of the Public
Account
Money forming part of the Public
Account
Money forming part of the Public
Account
Marine Board
Roads Corporation
State Training Board
Victorian Casino and Gaming
Authority
Victorian Health Promotion
Foundation
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8
Financial Management Regulations 1994
S.R. No. 69/1994
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).
9
Financial Management Regulations 1994
S.R. No. 69/1994
Endnotes
2. Table of Amendments
This Version incorporates amendments made to the Financial Management
Regulations 1994 by statutory rules, subordinate instruments and Acts.
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Financial Management (Amendment) Regulations 1994, S.R. No. 215/1994
Date of Making:
20.12.94
Date 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:
24.6.97
Date of Commencement:
30.6.97: reg. 3
Financial Management (Amendment) Regulations 1998, S.R. No. 77/1998
Date of Making:
30.6.98
Date of Commencement:
1.7.98: reg. 3
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
10
Financial Management Regulations 1994
S.R. No. 69/1994
Endnotes
3. Explanatory Details
1
S.R. No. 107/1993.
11