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PARLIAMENT OF VICTORIA
Financial Management and Constitution Acts
Amendment Bill 2017
TABLE OF PROVISIONS
Clause Page
Part 1--Preliminary 1
1 Purposes 1
2 Commencement 2
Part 2--Financial Management Act 1994 4
3 Definitions 4
4 Relevant Minister 8
5 Section 6 repealed 8
6 Directions 9
7 New sections 8A and 8B inserted 9
8 Part 2 repealed 10
9 Heading to Part 3 substituted 10
10 Sections 13 and 14 repealed 10
11 Accounts of departments 10
12 New section 15A inserted 11
13 Section 16 substituted 11
14 Section 17 substituted 12
15 Section 18 substituted 14
16 Heading to Part 4 substituted 15
17 Sections 19 to 22 repealed 15
18 Section 23 substituted 15
19 Principles of sound financial management 17
20 Budget update 17
21 Annual financial report 18
22 Quarterly financial report 19
23 Transmission of documents to Parliament 19
24 Section 28 substituted 20
25 Section 29 substituted 23
26 Section 30 substituted 24
27 Sections 31 to 32 repealed 24
28 Section 33 substituted 25
29 Section 34 repealed 27
30 Section 35 substituted 27
31 Temporary advances to authorities 30
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Clause Page
32 New section 36A inserted 30
33 Issue of money out of Public Account 31
34 Section 38 substituted 32
35 Section 39 substituted 33
36 Annual budget estimates 33
37 New section 40DA inserted 33
38 Charge for indemnities 34
39 New sections 41 and 41A inserted 35
40 Accountable officer 38
41 Chief finance and accounting officer and other persons 39
42 Section 44A substituted 40
43 Report of operations and financial statements to be prepared 42
44 New sections 45A and 45B inserted 42
45 Tabling requirements 45
46 Financial statements 45
47 Information 46
48 Minister may direct public body to submit financial statements 46
49 Composite reports 46
50 Annual reports of State-owned corporations and other bodies 46
51 New section 53B inserted 47
52 Heading to Part 7A substituted 48
53 Specified entities 48
54 Establishment of Victorian Government Purchasing Board 48
55 Section 54B substituted 48
56 Powers of Board 50
57 Delegation 51
58 Minister's directions 51
59 Supply policies 51
60 Section 54M substituted 52
61 Minister may lease land or premises for other Ministers 53
62 Writing off 53
63 Liability in respect of loss or damage 53
64 Regulations 53
65 New section 65 inserted 55
66 New sections 66 to 68 inserted 55
67 Schedule 1 repealed 59
Part 3--Constitution Act 1975 60
68 Definitions 60
69 Divisions 1 and 2 of Part V substituted 61
Part 4--Consequential amendments 65
70 Project Development and Construction Management Act 1994 65
71 Public Administration Act 2004 65
72 Victorian Industry Participation Policy Act 2003 65
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Clause Page
Part 5--Repeal of amending Act 66
73 Repeal of amending Act 66
═════════════
Endnotes 67
1 General information 67
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PARLIAMENT OF VICTORIA
Introduced in the Assembly
Financial Management and Constitution
Acts Amendment Bill 2017
A Bill for an Act to amend the Constitution Act 1975 and the
Financial Management Act 1994 in order to provide that the Public
Account, Consolidated Fund and Trust Fund are maintained under
the Constitution Act 1975, to amend the Financial Management
Act 1994 to provide for the funding of departments and the
application of appropriations from the Consolidated Fund, to make
consequential amendments to certain other Acts and for other
purposes.
The Parliament of Victoria enacts:
Part 1--Preliminary
1 Purposes
The purposes of this Act are--
(a) to provide that the Public Account,
5 Consolidated Fund and Trust Fund
are maintained under the Constitution
Act 1975; and
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Part 1--Preliminary
(b) to amend the Financial Management
Act 1994 to reform financial management
processes including--
(i) to provide for the funding of
5 departments and the application of
appropriations from the Consolidated
Fund; and
(ii) to require financial statements and
reports prepared under that Act to
10 comply with Australian Accounting
Standards; and
(iii) to provide for the receipt of funds from
other jurisdictions; and
(iv) to enable the Minister to determine the
15 reporting period for certain reports and
statements prepared under that Act; and
(v) to provide for the accountability of
senior officers of departments and
public bodies; and
20 (vi) to rename the Victorian Government
Purchasing Board as the Victorian
Government Procurement Board; and
(c) to consequentially amend certain other Acts.
2 Commencement
25 (1) Subject to subsection (2), this Act comes into
operation on 1 July 2019.
(2) The following provisions of this Act come into
operation on 1 July 2018--
(a) this Part;
30 (b) section 3(2), (3), (4) and (6);
(c) section 5;
(d) section 6(1);
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Part 1--Preliminary
(e) sections 11(1), 13, 19, 20, 22, 23 and 34;
(f) sections 37 to 50;
(g) sections 52 to 64;
(h) section 65;
5 (i) sections 70 to 73.
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Financial Management and Constitution Acts Amendment Bill 2017
Part 2--Financial Management Act 1994
Part 2--Financial Management Act 1994
3 Definitions
(1) Insert the following definitions in section 3 of the
Financial Management Act 1994--
5 "annual appropriation Act means--
(a) an Act that, before it received the Royal
Assent, was an Annual Appropriation
Bill within the meaning of section 65
of the Constitution Act 1975; and
10 (b) an Act that appropriates the
Consolidated Fund for purposes
relating to the Parliament for a
financial year;
Consolidated Fund has the same meaning as in
15 the Constitution Act 1975;
Public Account has the same meaning as in the
Constitution Act 1975;
Trust Account has the same meaning as in the
Constitution Act 1975;
20 Trust Fund has the same meaning as in the
Constitution Act 1975;
Working Account, in relation to a department,
means the Trust Account established under
section 23(1) for that department.".
25 (2) Insert the following definitions in section 3 of the
Financial Management Act 1994--
"Australian Accounting Standards means
the accounting standards issued by the
Australian Accounting Standards Board
30 as in force from time to time;
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Part 2--Financial Management Act 1994
Department Head has the same meaning as in
the Public Administration Act 2004;
public construction has the same meaning as in
the Project Development and Construction
5 Management Act 1994;
relevant public entity has the same meaning as in
section 13A of the Public Administration
Act 2004;".
(3) In section 3 of the Financial Management
10 Act 1994, for the definition of Board
substitute--
"Board means the Victorian Government
Procurement Board continued under
section 54A(1);".
15 (4) In section 3 of the Financial Management
Act 1994, in the definition of chief finance
and accounting officer omit "and accounting".
(5) In section 3 of the Financial Management
Act 1994, for the definition of department
20 substitute--
"department means a department established by
an Order under section 10 of the Public
Administration Act 2004;".
(6) In section 3 of the Financial Management
25 Act 1994, the following definitions are
repealed--
(a) authorised deposit-taking institution;
(b) financial year.
(7) In section 3 of the Financial Management
30 Act 1994, for the definition of public body
substitute--
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Part 2--Financial Management Act 1994
"public body means, subject to a determination
under subsection (2)--
(a) a body corporate that is--
(i) a public entity within the meaning
5 of the Public Administration
Act 2004; or
(ii) a special body within the meaning
of the Public Administration
Act 2004; or
10 (iii) an Administrative Office within
the meaning of the Public
Administration Act 2004; and
(b) the Victorian Public Sector
Commission established under
15 section 37 of the Public
Administration Act 2004; and
(c) the Office of Public Prosecutions
continued under section 39 of the
Public Prosecutions Act 1994; and
20 (d) Victoria Police within the meaning of
the Victoria Police Act 2013; and
(e) the office of the Ombudsman within
the meaning of the Ombudsman
Act 1973; and
25 (f) Court Services Victoria; and
(g) the Judicial Commission within the
meaning of the Constitution Act 1975;
and
(h) the Judicial College of Victoria
30 established under section 4 of
the Judicial College of Victoria
Act 2001; and
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Part 2--Financial Management Act 1994
(i) the Victorian Auditor-General's Office
within the meaning of the Audit
Act 1994; and
(j) a University established by an Act of
5 the Parliament of Victoria; and
(k) a body corporate of which the State
has control, within the meaning of
Australian Accounting Standards, and
to which--
10 (i) the government of another State or
a Territory has the right to appoint
a member; or
(ii) a person or body is authorised to
appoint a member under the law
15 of another State or a Territory; and
(l) an entity determined to be a public
body for the purposes of this definition
under subsection (2);".
(8) In section 3 of the Financial Management
20 Act 1994, in paragraph (c) of the definition
of the relevant Minister--
(a) after "public body" insert "or entity";
(b) for "the Minister" substitute "the person".
(9) At the end of section 3 of the Financial
25 Management Act 1994 insert--
"(2) The Minister may determine, by notice
published in the Government Gazette, that
an entity of which the State has control,
within the meaning of the Australian
30 Accounting Standards, is or is not a public
body for the purposes of the definition of
public body.
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Part 2--Financial Management Act 1994
(3) Subject to this or any other Act, an
unincorporated entity of which the State
has control, within the meaning of the
Australian Accounting Standards, is taken
5 to form part of a department if--
(a) the relevant Minister of that
department is the Minister responsible
for administering the entity; and
(b) the entity is not a department or public
10 body; and
(c) under the Australian Accounting
Standards relevant to the entity--
(i) the entity is not taken to be a
public body; and
15 (ii) the entity's financial statements
do not form part of the financial
statements of any public body.".
4 Relevant Minister
At the end of section 5 of the Financial
20 Management Act 1994 insert--
"(2) The Governor in Council, may, by Order,
declare a person other than a Minister to
be the relevant Minister in relation to--
(a) a public body; or
25 (b) an entity, other than a public body, for
the purposes of a specified provision
of this Act that applies to that entity.".
5 Section 6 repealed
Section 6 of the Financial Management
30 Act 1994 is repealed.
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Part 2--Financial Management Act 1994
6 Directions
(1) In section 8(1) of the Financial Management
Act 1994, for "chief finance and accounting
officer" substitute "chief finance officer".
5 (2) In section 8(2) of the Financial Management
Act 1994, after "the regulations" insert "or any
determination made under section 53B(3) or (4)".
(3) Section 8(4) of the Financial Management
Act 1994 is repealed.
10 (4) In section 8(5) of the Financial Management
Act 1994--
(a) omit "in the Trust Fund";
(b) for "another Act" substitute "any other Act".
7 New sections 8A and 8B inserted
15 After section 8 of the Financial Management
Act 1994 insert--
"8A Application of Act and regulations
The Minister may determine, by notice
published in the Government Gazette,
20 that a provision of this Act (other than a
provision of Part 3, 4 or 6) or a regulation
made under section 59 applies or does not
apply to a department or public body
specified in the notice.
25 8B Application of Subordinate Legislation
Act 1994
Parts 3A and 5A of the Subordinate
Legislation Act 1994 apply to a notice
under section 3(2), 8A or 53B(3) or (4)
30 as if it were a legislative instrument within
the meaning of that Act.".
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Part 2--Financial Management Act 1994
8 Part 2 repealed
Part 2 of the Financial Management Act 1994
is repealed.
9 Heading to Part 3 substituted
5 For the heading to Part 3 of the Financial
Management Act 1994 substitute--
"Part 3--Accounts of departments
and investment of money in
Public Account".
10 10 Sections 13 and 14 repealed
Sections 13 and 14 of the Financial Management
Act 1994 are repealed.
11 Accounts of departments
(1) In section 15(1) of the Financial Management
15 Act 1994, for "an authorised deposit-taking
institution or institutions" substitute "one or
more ADI".
(2) After section 15(3) of the Financial Management
Act 1994 insert--
20 "(4) In this section--
department means any entity for the
purposes of which the Treasurer is
authorised by an annual appropriation
Act to issue an amount from the
25 Consolidated Fund.".
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Part 2--Financial Management Act 1994
12 New section 15A inserted
After section 15 of the Financial Management
Act 1994 insert--
"15A Payment of departments' expenses,
5 liabilities and obligations from Public
Account
(1) If an expense, liability or obligation of a
department becomes due and payable--
(a) the Treasurer must pay out of the
10 Public Account into an account
opened under section 15 by the
department an amount necessary to
enable the department to meet that
expense, liability or obligation; and
15 (b) that amount is to be deducted from--
(i) the Working Account for the
department; or
(ii) any Trust Account from which
the department is required or
20 permitted to make the payment.
(2) In this section--
department means any entity for the
purposes of which the Treasurer is
authorised by an annual appropriation
25 Act to issue an amount from the
Consolidated Fund.".
13 Section 16 substituted
For section 16 of the Financial Management
Act 1994 substitute--
30 "16 Receipt of public money
A person who collects or receives public
money must, in accordance with the
regulations and directions, daily or at such
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Part 2--Financial Management Act 1994
intervals as the Minister determines, pay the
money into--
(a) if required by or under this or any other
Act to be paid into an account that does
5 not form part of the Public Account,
that account; or
(b) in any other case, the Public Account.".
14 Section 17 substituted
For section 17 of the Financial Management
10 Act 1994 substitute--
"17 Receipt of money from different
jurisdictions
(1) This section applies to money that--
(a) is received or receivable by--
15 (i) the State; or
(ii) an entity, the transactions
of which form part of the
transactions of the State for the
purposes of section 24(2)(b); and
20 (b) is provided by a different jurisdiction
under an agreement between the State
or an entity described in paragraph (a)
and that jurisdiction; and
(c) is required by or under an Act to
25 be paid into the Public Account
and credited to the Consolidated
Fund; and
(d) is not provided for in an annual
appropriation Act for that year as
30 an amount that may be issued by
the Treasurer from the Consolidated
Fund.
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Part 2--Financial Management Act 1994
(2) Subject to subsection (3), the Treasurer
may issue out of the Consolidated Fund an
amount equal to or less than an amount of
money to which this section applies and
5 either--
(a) credit that amount to a Trust Account;
or
(b) pay out of the Public Account that
amount and credit it to an account
10 or fund other than a Trust Account.
(3) The Treasurer may not credit or pay out
an amount of money under subsection (2)
unless--
(a) in the case of the credit of an amount
15 to a Trust Account, the amount is to
be credited to a Trust Account from
which a Minister is authorised to
make payments for the purposes of
the agreement between the different
20 jurisdiction and the State; and
(b) the credit or payment is made in
accordance with the agreement; and
(c) the total amount of credits or payments
made in respect of that amount does not
25 exceed the amount to which this section
applies.
(4) For the purposes of subsection (2), the
Consolidated Fund is to the necessary
extent appropriated accordingly.
30 (5) In this section--
different jurisdiction means--
(a) the Commonwealth; or
(b) another State or a Territory; or
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Part 2--Financial Management Act 1994
(c) a municipal council; or
(d) the government of a jurisdiction
outside Australia.".
15 Section 18 substituted
5 For section 18 of the Financial Management
Act 1994 substitute--
"18 Investment of money in Public Account
(1) The Minister may invest any money from
the Public Account in any manner that is
10 consistent with the Treasury Corporation
of Victoria Act 1992, the Borrowing and
Investment Powers Act 1987 or any other
Act.
(2) Subject to subsection (3), interest or earnings
15 received from the investment of any money
under subsection (1)--
(a) must be paid into the Public Account;
and
(b) must be credited to the Consolidated
20 Fund.
(3) If an Act or a determination made under
section 93(3) of the Constitution Act 1975
provides that interest or earnings received
from the investment of money from a Trust
25 Account under subsection (1) must be
credited to that account, the interest and
earnings must be credited to that Trust
Account.
(4) The investment of any money under
30 subsection (1) is not taken to be a
transaction on the Consolidated Fund
or any Trust Account for the purposes
of any Act.
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Part 2--Financial Management Act 1994
18A Liability under guarantees
If any borrowing or other contract or
agreement or the performance of any
other contract or agreement is by any
5 Act declared to be guaranteed by the
Government of Victoria--
(a) any amount required by the Minister
or the Treasurer for fulfilling the
guarantee must be paid out of the
10 Consolidated Fund, which is to the
necessary extent appropriated
accordingly; and
(b) any amount received or recovered by
the Minister or the Treasurer in respect
15 of any amount paid by the Minister or
the Treasurer under paragraph (a) must
be paid into the Consolidated Fund.".
16 Heading to Part 4 substituted
For the heading to Part 4 of the Financial
20 Management Act 1994 substitute--
"Part 4--Departmental
Working Accounts".
17 Sections 19 to 22 repealed
Sections 19, 20, 21 and 22 of the Financial
25 Management Act 1994 are repealed.
18 Section 23 substituted
For section 23 of the Financial Management
Act 1994 substitute--
"23 Departmental Working Accounts
30 (1) The Minister administering section 93(1) of
the Constitution Act 1975 must establish
one Trust Account for each department that
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Part 2--Financial Management Act 1994
is to be the Working Account for the
department.
(2) The Working Account for a department is
to be used for the following purposes--
5 (a) to receive money transferred to the
Working Account for the department
by or under this or any other Act;
(b) to provide for the payments of
amounts that are required, by or
10 under this or any other Act, to be
paid from the Public Account into
an account that does not form part
of the Public Account in order to
meet the department's expenses,
15 liabilities and obligations.
(3) The balance of money in the Working
Account of a department may be less
than zero.
(4) Nothing in this section prevents the
20 Minister administering section 93(1) of
the Constitution Act 1975 establishing
Trust Accounts for the purposes of a
department in addition to the Working
Account.
25 (5) In this section--
department means any entity for the
purposes of which the Treasurer
is authorised by an annual
appropriation Act to issue an
30 amount from the Consolidated
Fund.".
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Part 2--Financial Management Act 1994
19 Principles of sound financial management
(1) After section 23D(1)(a) of the Financial
Management Act 1994 insert--
"(ab) establish, maintain and implement systems
5 and procedures to achieve effective
management of public resources and best
value for money;".
(2) After section 23D(1)(d) of the Financial
Management Act 1994 insert--
10 "(da) ensure that financial management decisions
made by departments and public bodies
have regard to the Government's strategic
priorities;".
(3) After section 23D(2) of the Financial
15 Management Act 1994 insert--
"(3) The principle of sound financial management
set out in subsection (1)(da) does not apply
to an entity that is not subject to the control
or direction of a Minister.".
20 20 Budget update
(1) In section 23L(1) of the Financial Management
Act 1994, for "The Minister" substitute
"Subject to subsection (3), the Minister".
(2) After section 23L(2) of the Financial
25 Management Act 1994 insert--
"(3) Subsection (1) does not apply in relation to a
financial year if a pre-election budget update
prepared in accordance with Division 6 is
released within 3 months before the due
30 date for the budget update for that financial
year.".
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Part 2--Financial Management Act 1994
21 Annual financial report
(1) Section 24(2)(d) of the Financial Management
Act 1994 is repealed.
(2) In section 24(2)(f) of the Financial Management
5 Act 1994 omit "or 31".
(3) In section 24(2)(g)(i) and (iii) of the Financial
Management Act 1994, for "section 32 in respect
of unused appropriation" substitute "section 28D
in respect of unapplied appropriation".
10 (4) For section 24(2)(h) of the Financial
Management Act 1994 substitute--
"(h) must include--
(i) details of amounts advanced in respect
of the financial year as a result of a
15 determination under section 35;
(ii) a statement of the purposes for
which the amounts referred to in
subparagraph (i) were expended;
(ha) must include--
20 (i) details of amounts appropriated in
respect of the next financial year
under section 35A;
(ii) a statement of the reasons for which
the amounts appropriated under
25 section 35A were applied;".
(5) After section 24(2)(l) of the Financial
Management Act 1994 insert--
"(la) must include details of directions made
under section 93(7) of the Constitution
30 Act 1975 during the financial year;".
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Part 2--Financial Management Act 1994
22 Quarterly financial report
(1) For section 26(2B) of the Financial Management
Act 1994 substitute--
"(2B) The quarterly financial report for the quarter
5 ending on 31 December in a financial year
must include, in addition to the statements
referred to in subsection (2)(a) to (d) for
that quarter, the statements referred to in
subsection (2)(a) to (d) for the period of
10 6 months ending on 31 December, unless
those statements are included in the mid-year
report prepared under section 25 for the
financial year.".
(2) For section 26(3A) of the Financial Management
15 Act 1994 substitute--
"(3A) The quarterly financial report for the quarter
ending on 30 June in a financial year must
include, in addition to the statements referred
to in subsection (2)(a) to (d) for that quarter,
20 the statements referred to in subsection (2)(a)
to (d) for the period of 12 months ending on
30 June, unless those statements are included
in the annual financial report prepared under
section 24 for the financial year.".
25 23 Transmission of documents to Parliament
In Column 2 of the Table to section 27D(3)
of the Financial Management Act 1994, for
"15 November" substitute "15 December".
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Part 2--Financial Management Act 1994
24 Section 28 substituted
For section 28 of the Financial Management
Act 1994 substitute--
"28 Definitions
5 (1) In this Part--
department means any entity for the
purposes of which the Treasurer is
authorised by an annual appropriation
Act to issue an amount from the
10 Consolidated Fund.
(2) For the purposes of this Part, subject to any
declaration made under section 5, a reference
to the relevant Minister is a reference to--
(a) in relation to the Department of
15 Legislative Council, the President
of the Legislative Council; or
(b) in relation to the Department of
Legislative Assembly, the Speaker
of the Legislative Assembly; or
20 (c) in relation to a department of the
Parliament, the President of the
Legislative Council and the Speaker
of the Legislative Assembly acting
jointly; or
25 (d) in the case of Court Services
Victoria, the Courts Council acting
with the consent of the Treasurer
and Attorney-General.
28A Application of money for specified
30 purpose
For the purposes of this Act, if this or any
other Act requires, authorises or deems an
amount of money to be appropriated from
the Consolidated Fund for a specified
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Part 2--Financial Management Act 1994
purpose, the Treasurer is taken to have
applied that amount for that purpose at
the time the amount is deducted from the
Consolidated Fund.
5 28B Transactions following application of
appropriated money
If an Act requires, authorises or deems an
amount of money to be appropriated from
the Consolidated Fund for a specified
10 purpose, on the application of the amount, it
is to be credited to the Working Account of
the department to which the purpose relates,
unless that amount is required or authorised
by or under any Act--
15 (a) to be credited to one or more Trust
Accounts that are not Working
Accounts; or
(b) to be paid out of the Public Account
into one or more accounts that do not
20 form part of the Public Account.
28C Determination that amount has not been
applied
(1) The Treasurer may, if an amount has been
applied for a specified purpose in respect of
25 a department and credited to the Working
Account for that department, determine that
the amount is not applied.
(2) Subject to subsection (3), a determination
under subsection (1) that an amount is not
30 applied may be made--
(a) during the financial year in which
the transactions required under
subsection (4) are recorded; or
(b) as soon as practicable after the end
35 of that financial year.
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(3) A determination under subsection (1) that an
amount is not applied must be made before
the submission of the financial statements
of the department under section 45(2) for
5 the financial year in which the transactions
required under subsection (4) are recorded.
(4) If the Treasurer determines under
subsection (1) that an amount is not
applied, that amount must be--
10 (a) deducted from the Working
Account for the department; and
(b) credited to the Consolidated Fund.
28D Unapplied appropriation
(1) If the relevant Minister is satisfied that an
15 amount appropriated for a financial year
for a specified purpose in respect of a
department is not applied, or is not likely
to be applied, in that year, the relevant
Minister, with the consent of the Treasurer,
20 may determine that the amount, or a part
of it, may not be applied in that financial
year but may be applied for that specified
purpose in the next financial year.
(2) If the Minister makes a determination under
25 subsection (1), the amount appropriated for
the department for the next financial year is
taken to be increased accordingly.
(3) The Minister must not make a determination
under subsection (1) in relation to an
30 amount, or part of an amount, that has
previously been subject to a determination
under that subsection.
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28E Payments from Working Accounts for
goods or services required for the
provision of outputs
If a department (the first department) agrees
5 to provide another department (the second
department) with any goods or services
the second department requires to provide
outputs, the amount of any payment required
to be made to the first department under the
10 agreement must--
(a) be deducted from the Working Account
for the second department; and
(b) be credited to the Working Account for
the first department.".
15 25 Section 29 substituted
For section 29 of the Financial Management
Act 1994 substitute--
"29 Appropriation of certain revenue and
asset proceeds
20 (1) This section applies if an annual
appropriation Act provides that this
section applies in relation to an amount
to be appropriated from the Consolidated
Fund in respect of a department.
25 (2) To the extent and subject to the conditions
agreed to by the Treasurer and the relevant
Minister, revenue receivable from the
provision of outputs by the department is
taken to have been appropriated for the
30 purposes of the provision of outputs by the
department.
(3) To the extent and subject to the conditions
agreed to by the Treasurer and the relevant
Minister, proceeds received from the sale of
35 assets by the department are taken to have
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been appropriated for the purposes of
additions to the net asset base of the
department.".
26 Section 30 substituted
5 For section 30 of the Financial Management
Act 1994 substitute--
"30 Transfer between departmental
appropriations
(1) The relevant Minister in relation to a
10 department, with the consent of the
Treasurer, may determine that an amount
or part of an amount that an annual
appropriation Act authorises the Treasurer
to issue from the Consolidated Fund for
15 a specified purpose in respect of that
department may be transferred to, and
applied for, another specified purpose
in respect of that department.
(2) The relevant Minister must be satisfied,
20 before making a determination under
subsection (1), that--
(a) the amount to be transferred is not
required for the purpose for which
it was originally specified; and
25 (b) the amount authorised to be issued by
the annual appropriation Act for the
specified purpose to which the amount
is to be transferred is insufficient for
that purpose.".
30 27 Sections 31 to 32 repealed
Sections 31, 31A and 32 of the Financial
Management Act 1994 are repealed.
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28 Section 33 substituted
For section 33 of the Financial Management
Act 1994 substitute--
"33 Asset investment
5 (1) This section applies to money credited to
the Working Account of a department that--
(a) is provided for in an annual
appropriation Act for the purposes
of the provision of outputs by the
10 department; and
(b) has been applied.
(2) This section applies to the following as if
they compose a single department--
(a) the Joint House Committees established
15 by section 5 of the Parliamentary
Committees Act 2003;
(b) the Parliamentary Budget Office
established by section 17A of the
Parliamentary Administration
20 Act 2005;
(c) the Victorian Auditor-General's Office
within the meaning of the Audit
Act 1994;
(d) all departments of the Parliament.
25 (3) The total amount that may be paid from the
Public Account in each financial year from
a department's depreciation equivalent to
which this section applies for the purposes
of investment in assets by the department
30 must not exceed the sum of--
(a) the closing depreciation equivalent
balance of the department for the
preceding financial year; and
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(b) the amount reported as depreciation
expense in the comprehensive operating
statement of the department for the
financial year.
5 (4) The total amount that may be paid from the
Public Account in each financial year from a
department's accumulated operating surplus
to which this section applies for the purposes
of investment in assets by the department
10 must not exceed the amount determined
for the purposes of this subsection by the
Treasurer in consultation with the relevant
Minister in relation to the department.
(5) In this section, a reference to an investment
15 in assets by a department includes, but is not
limited to--
(a) payment of liabilities or obligations
incurred for the provision of assets; and
(b) transfer by the department of an amount
20 to an entity that is a relevant public
entity in relation to the Department
Head for the purpose of enabling that
entity to invest in assets; and
(c) additions to the net asset base of the
25 department.
(6) In this section--
closing depreciation equivalent balance, in
relation to a financial year, means the
sum of the following--
30 (a) the depreciation equivalent
balance for the preceding
financial year;
(b) the depreciation equivalent
movement for the financial
35 year;
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comprehensive operating statement, in
relation to a financial year, means
a statement of information of a
department's revenue and expenditure
5 for the financial year that is prepared
on the same basis as a statement of
the department's estimated revenue
and expenditure that forms part of
the statement of information prepared
10 under section 40(1) for that financial
year;
depreciation equivalent movement, in
relation to a financial year, means
the amount reported as depreciation
15 expense in the comprehensive operating
statement of the department for the
financial year minus the amount paid
from the Public Account during the
financial year from the department's
20 depreciation equivalent to which this
section applies for the purposes of
investment in assets.".
29 Section 34 repealed
Section 34 of the Financial Management
25 Act 1994 is repealed.
30 Section 35 substituted
For section 35 of the Financial Management
Act 1994 substitute--
"35 Supplementation of amounts issued for
30 specified purposes
(1) If an annual appropriation Act authorises
the Treasurer to issue an amount from the
Consolidated Fund for a specified purpose
in respect of a department, the Treasurer
35 may, after consultation with the relevant
Minister, determine that a further amount
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is to be advanced from the Consolidated
Fund to that department for that purpose.
(2) An amount advanced under this section
must be added to the Working Account
5 for the department.
(3) The total of amounts advanced under
this section in a financial year must not
exceed 1% of the total amount that the
Treasurer is authorised to issue by the
10 annual appropriation Act in respect of
that year.
(4) An amount advanced under this section
must be repaid before the end of the
second financial year following the
15 financial year in which the advance is
made.
35A Supplementation for salaries and related
costs
(1) This section applies if--
20 (a) in respect of a financial year, the
amount payable for salaries and related
costs by a department is increased as
the result of an Act or determination;
and
25 (b) the amounts appropriated through
the annual appropriation Act are
insufficient to provide for the payment
of the increased amount payable by the
department in respect of salaries and
30 related costs.
(2) If this section applies, the Treasurer may
issue from the Consolidated Fund an amount
not exceeding the increased amount payable
in respect of the salaries and related costs
35 of the department in addition to the amount
issued under the annual appropriation Act.
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(3) The Consolidated Fund is appropriated to
the extent necessary for the purposes of this
section.
(4) In this section--
5 determination includes any--
(a) regulation; or
(b) award, order or determination
of a person or body authorised
to determine minimum salaries
10 or wages under any law of the
Commonwealth or of the State; or
(c) agreement approved in accordance
with the Fair Work (Registered
Organisations) Act 2009 of the
15 Commonwealth or the Fair Work
Act 2009 of the Commonwealth;
or
(d) agreement entered into by or on
behalf of the State;
20 salaries and related costs includes the
following--
(a) wages or other amounts in the
nature of salary;
(b) payments by way of overtime or
25 penalty rates or in lieu of long
service leave;
(c) payments for retiring gratuities,
superannuation contributions,
annual leave loadings, payroll tax
30 payments or WorkCover policy
premiums.".
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31 Temporary advances to authorities
(1) For section 36(1)(a) of the Financial
Management Act 1994 substitute--
"(a) advances to authorities not exceeding at any
5 time an amount estimated by the Minister
to be sufficient to meet one month's expenses
in respect of the ordinary annual services
within the meaning of section 65 of the
Constitution Act 1975;".
10 (2) In section 36(1)(b) of the Financial Management
Act 1994--
(a) omit "special";
(b) omit "pending adjustment when payment
is made".
15 (3) For section 36(3) of the Financial Management
Act 1994 substitute--
"(3) The issue or repayment of money under this
section is not taken to be a transaction on the
Consolidated Fund or any Trust Account for
20 the purposes of any Act.".
32 New section 36A inserted
After section 36 of the Financial Management
Act 1994 insert--
"36A Advances from Trust Fund to
25 Consolidated Fund
(1) The Treasurer may advance an amount
to the Consolidated Fund from a Trust
Account if--
(a) that Trust Account is established
30 under section 93(1) of the Constitution
Act 1975; and
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(b) one of the purposes for which the
Trust Account is established is to
make advances to the Consolidated
Fund.
5 (2) The amount of an advance under
subsection (1) must--
(a) be deducted from the Trust Account
from which the advance is made; and
(b) be credited to the Consolidated Fund.
10 (3) The Consolidated Fund is appropriated to the
extent necessary to enable the repayment of
an amount advanced under subsection (1).".
33 Issue of money out of Public Account
(1) For section 37(1)(a) of the Financial
15 Management Act 1994 substitute--
"(a) money required for payment by the
Minister under an agreement with
a different jurisdiction within the
meaning of section 17, if section 17
20 does not apply to that money;".
(2) In section 37(1) of the Financial Management
Act 1994, for "the Government or authority or
public body" substitute "that jurisdiction, the
State or the authority or public body, as the case
25 requires".
(3) After section 37(2) of the Financial Management
Act 1994 insert--
"(3) The amount of any interest paid into the
Public Account under subsection (2) must
30 be credited to the Consolidated Fund.
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(4) The issue of money under this section, or the
repayment of that money, is not taken to be a
transaction on the Consolidated Fund or any
Trust Account for the purposes of any Act.".
5 34 Section 38 substituted
For section 38 of the Financial Management
Act 1994 substitute--
"38 Borrowing of money for Public Account
(1) If at any time the Minister is satisfied
10 that the money in the Public Account is
insufficient to provide for a payment that
is authorised to be made from the Public
Account, the Minister may, subject to this
or any other Act, borrow money and pay
15 it into the Public Account for the purposes
of making that payment.
(2) All money borrowed under this section must
be paid back from the Public Account--
(a) as soon as practicable after the Minister
20 is satisfied that sufficient funds are
available in the Public Account; and
(b) before the end of the financial year
following the financial year in which
the money was borrowed.
25 (3) Any interest paid on money borrowed under
this section must--
(a) be paid out of the Public Account; and
(b) be deducted from the Consolidated
Fund, which is appropriated by that
30 amount.".
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35 Section 39 substituted
For section 39 of the Financial Management
Act 1994 substitute--
"39 Investments may be offset against
5 borrowed money
(1) This section applies if, at a particular time--
(a) money from the Public Account is
invested with an entity under
section 18(1); and
10 (b) money borrowed under section 38
is owing to that entity.
(2) Subject to subsection (3), if this section
applies the Minister may offset some or
all of the money invested with the entity
15 against money owing to that entity.
(3) The Minister may offset money under
subsection (2) only to the extent that an
offset does not reduce the money earned
by an investment from a Trust Account if
20 the money earned from the investment is
required to be credited to that account.".
36 Annual budget estimates
Section 40(3) of the Financial Management
Act 1994 is repealed.
25 37 New section 40DA inserted
After section 40D of the Financial Management
Act 1994 insert--
"40DA Treasurer must not give indemnity unless
alternative indemnity previously sought
30 The Treasurer must not give an indemnity
under section 40C or 40D to a person
or an entity against a liability unless the
Treasurer is satisfied either that exceptional
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circumstances exist that justify the giving
of the indemnity or that--
(a) the person or entity has previously
sought to arrange insurance or an
5 indemnity against that liability--
(i) if the Victorian Managed
Insurance Authority may provide
insurance or an indemnity to
that person or entity under the
10 Victorian Managed Insurance
Authority Act 1996, with the
Victorian Managed Insurance
Authority; or
(ii) with a corporation authorised
15 under a law of the Commonwealth
to provide that type of insurance
or indemnity; and
(b) the Victorian Managed Insurance
Authority or that corporation, as the
20 case requires--
(i) has declined to provide the person
or entity with the indemnity or
insurance; or
(ii) has offered to provide the person
25 or entity with the indemnity or
insurance but not on reasonable
commercial terms.".
38 Charge for indemnities
(1) In section 40F of the Financial Management
30 Act 1994, for "a trust account in the Trust Fund
established under section 19" substitute "a Trust
Account".
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(2) At the end of section 40F of the Financial
Management Act 1994 insert--
"(2) Before determining an amount for payment
for the purposes of subsection (1), the
5 Treasurer must consult with the Minister
responsible for approving the premiums
determined by the Victorian Managed
Insurance Authority under section 24(1)
of the Victorian Managed Insurance
10 Authority Act 1996.
(3) An amount paid to the Treasurer under
subsection (1) must be paid into the Public
Account and--
(a) if the Treasurer or an Act requires the
15 amount to be credited to a specified
Trust Account, the money in that Trust
Account is increased accordingly; or
(b) in any other case, the Consolidated
Fund is increased accordingly.".
20 39 New sections 41 and 41A inserted
Before section 42 of the Financial Management
Act 1994 insert--
"41 Definitions
In this Part--
25 independent public body means--
(a) Court Services Victoria; or
(b) the Victorian Auditor-General's
Office within the meaning of the
Audit Act 1994; or
30 (c) the office of the Ombudsman
within the meaning of the
Ombudsman Act 1973; or
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(d) the Victorian Electoral
Commission; or
(e) the Independent Broad-based
Anti-corruption Commission
5 established under section 12 of
the Independent Broad-based
Anti-corruption Commission
Act 2011; or
(f) the Victorian Inspectorate within
10 the meaning of the Victorian
Inspectorate Act 2011; or
(g) the Judicial Commission within
the meaning of Part IIIAA of
the Constitution Act 1975; or
15 (h) the Judicial College of Victoria
established under section 4 of
the Judicial College of Victoria
Act 2001;
reporting period means, in relation to a
20 department or public body--
(a) the reporting period determined
under section 45B for the
department or public body; or
(b) if no reporting period has been
25 determined for the department
or public body, a financial year;
responsible body means--
(a) in the case of a public body
with a statutory board or
30 equivalent governing body
established under a provision
of an Act or enactment, that
board or governing body; or
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(b) in relation to any other department
or public body, that department or
public body's accountable officer;
responsible Minister means--
5 (a) in relation to a department, the
Minister or Ministers responsible
for any part of that department; or
(b) in relation to an independent
public body, the responsible body
10 of the independent public body; or
(c) in relation to any other public
body, the Minister or Ministers for
the time being administering the
provision of the Act or enactment
15 that establishes that body.
41A Responsible body
(1) The responsible body of a department or
public body is responsible for the financial
management, financial performance and
20 financial sustainability of the department or
public body to--
(a) the responsible Minister of that
department or public body; and
(b) to the extent specified under this or
25 any other Act--
(i) in the case of the responsible
body of a department, the
Department Head of the
Department of Treasury and
30 Finance; or
(ii) in the case of the responsible
body of a public body, any
Department Head in relation
to whom the public body is
35 a relevant public entity.
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(2) Subject to subsection (3), the function of
the responsible body of a department or
public body is, as far as they relate to the
department or public body, to further in a
5 financially efficient and effective manner--
(a) the objectives and functions of the
Government of the State; and
(b) the purpose and objectives of an Act
that is relevant to the department or
10 public body.
(3) Subsection (2)(a) does not apply to an
independent public body.".
40 Accountable officer
(1) In section 42(2)(a) of the Financial Management
15 Act 1994, for "department head" substitute
"Department Head".
(2) After section 42(2) of the Financial Management
Act 1994 insert--
"(3) The accountable officer of a department or
20 public body is responsible, to the extent
specified under this or any other Act, for the
financial management, financial performance
and financial sustainability of the department
or public body to--
25 (a) the responsible body of the department
or public body; and
(b) the responsible Minister of the
department or public body; and
(c) to the extent specified under this or
30 any other Act--
(i) in the case of the accountable
officer of a department,
the Department Head of the
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Department of Treasury and
Finance; or
(ii) in the case of the accountable
officer of a public body, any
5 Department Head in relation
to whom the public body is a
relevant public entity.
(4) The accountable officer of a department or
public body must--
10 (a) manage the public resources for which
the department or public body is
responsible in a financially efficient
and effective manner; and
(b) establish and maintain effective
15 controls and reporting mechanisms
for matters relating to the financial
management of the department or
public body; and
(c) ensure that the person designated to
20 be the chief finance officer of the
department or public body is able
to meet the responsibilities of that
position under this or any other Act.".
41 Chief finance and accounting officer and other
25 persons
(1) Insert the following heading to section 43 of
the Financial Management Act 1994--
"Chief finance officer".
(2) In section 43(1) of the Financial Management
30 Act 1994--
(a) in paragraph (a), for "chief finance
and accounting officer;" substitute
"chief finance officer.";
(b) paragraphs (b) and (c) are repealed.
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(3) In section 43(2) of the Financial Management
Act 1994, for "chief finance and accounting
officer" substitute "chief finance officer".
(4) After section 43(2) of the Financial Management
5 Act 1994 insert--
"(3) The chief finance officer of a department
or public body is responsible, to the extent
specified under this or any other Act,
for the financial management, financial
10 performance and financial sustainability
of the department or public body to--
(a) the responsible body of the department
or public body; and
(b) the responsible Minister of the
15 department or public body; and
(c) in the case of the chief finance officer
of a department, the Department Head
of the Department of Treasury and
Finance; and
20 (d) in the case of the chief finance officer
of a public body, any Department Head
in relation to whom the public body is a
relevant public entity.".
42 Section 44A substituted
25 For section 44A of the Financial Management
Act 1994 substitute--
"44A Accountable officer must provide
financial information
The accountable officer of a department or
30 public body must--
(a) promptly provide information to
the responsible body or responsible
Minister of the department or public
body or the Department Head of the
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Department of Treasury and Finance
if--
(i) the responsible body, the
responsible Minister or
5 that Department Head has
requested that information; or
(ii) the accountable officer
considers the responsible body,
the responsible Minister or that
10 Department Head should be
aware of that information; and
(b) in the case of the accountable officer
of a public body, promptly provide
information to any Department Head
15 in relation to whom the public body
is a relevant public entity if--
(i) the Department Head has
requested that information; or
(ii) the accountable officer considers
20 the Department Head should be
aware of that information.
44AB Information on operational risks
(1) The chief finance officer of a public body
must promptly provide the chief finance
25 officer of any department, if the public body
is a relevant public entity in relation to the
Department Head of that department, with--
(a) details of the risks that may have a
material impact on the financial
30 position or performance of the State;
and
(b) any related information subsequently
requested by the chief finance officer.
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(2) On receiving information under subsection
(1), the chief finance officer must promptly
provide that information to the Department
Head of the Department of Treasury and
5 Finance.".
43 Report of operations and financial statements to be
prepared
(1) In section 45(1) of the Financial Management
Act 1994, for "financial year" (wherever
10 occurring) substitute "reporting period".
(2) In section 45(2) of the Financial Management
Act 1994, for "financial year" substitute
"reporting period".
(3) Section 45(4) of the Financial Management
15 Act 1994 is repealed.
44 New sections 45A and 45B inserted
After section 45 of the Financial Management
Act 1994 insert--
"45A Preparation of report of operations and
20 financial statements for superseded entity
(1) This section applies if--
(a) a department or public body
(the superseded entity) has ceased
to exist; and
25 (b) if the superseded entity had not ceased
to exist, the preparation of a report
of operations or financial statements
would be required under section 45.
(2) If this section applies, a final report of
30 operations or final financial statements
must be prepared by--
(a) the person or public body who would
be required under section 45 to prepare
a report of operations or financial
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statements for the department or public
body to which the functions of the
superseded entity have been
transferred; or
5 (b) if the functions of the superseded
entity have not been transferred, a
person designated in writing by the
Minister, in consultation with the
relevant Minister for the superseded
10 entity, for the purposes of this section;
or
(c) in any other case--
(i) the relevant Minister or
accountable officer of the
15 department in relation to the
Department Head of which
the superseded entity was a
relevant public entity; or
(ii) if the superseded entity was
20 not a relevant public entity in
relation to the Department Head
of any department, the Minister
or the accountable officer for
the Department of Treasury and
25 Finance.
(3) A final report of operations or final financial
statements prepared under this section must
be certified, in the manner approved by the
Minister, by the person or public body who
30 prepares the report.
45B Minister may determine reporting period
(1) The Minister may determine in writing that
a period other than a financial year is the
reporting period for a department or public
35 body, or a class of departments or public
bodies, for the purposes of its first or final
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report of operations and financial statements
under section 45.
(2) A determination made under subsection (1)
for a department or public body, or a class of
5 departments or public bodies, applies despite
any reporting period set out in any other Act
for the purposes of the department or public
body's first or final report of operations and
financial statements.
10 (3) Subject to subsection (4), the Minister may
determine in writing that a period other
than a financial year is the reporting period
for a department or public body, or a class
of departments or public bodies, for the
15 purposes of its reports of operations and
financial statements under section 45.
(4) The Minister may not make a determination
under subsection (3) for a department or
public body, or a class of departments or
20 public bodies, if the reporting period for the
purposes of the department or public body's
reports of operations and financial statements
is set out in any other Act.
(5) A determination under subsection (1) or (3)
25 must specify--
(a) the day on which the reporting period is
to end; and
(b) the time of day at which the reporting
period is to end.
30 (6) A determination under subsection (1) must
not determine a period to be a reporting
period for a department or public body
unless--
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(a) the period is less than 2 years; and
(b) the period--
(i) begins at the time the department
or public body comes into
5 existence and ends immediately
before the start of a financial year
or reporting period determined
for the department or public body
under subsection (3); or
10 (ii) begins immediately following
the end of a financial year or
reporting period determined for
the department or public body
under subsection (3) and ends
15 at the time the department or
public body ceases to exist.".
45 Tabling requirements
(1) In section 46(1) of the Financial Management
Act 1994, for "financial year" (where twice
20 occurring) substitute "reporting period".
(2) In section 46(2) of the Financial Management
Act 1994, for "financial year" substitute
"reporting period".
46 Financial statements
25 In section 49 of the Financial Management
Act 1994--
(a) in paragraph (c), for "financial year"
substitute "reporting period";
(b) in paragraph (d), for "that year" substitute
30 "that reporting period".
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47 Information
In section 50 of the Financial Management
Act 1994--
(a) for "financial years" substitute "reporting
5 periods";
(b) for "future years" substitute "future
reporting periods".
48 Minister may direct public body to submit financial
statements
10 In section 52(2) of the Financial Management
Act 1994, for "financial year" substitute
"reporting period".
49 Composite reports
In section 53(1) of the Financial Management
15 Act 1994, for "financial year" substitute
"reporting period".
50 Annual reports of State-owned corporations and
other bodies
(1) In section 53A(1) of the Financial Management
20 Act 1994, after "Act 1992" insert "or a
corporation that is a public body".
(2) In section 53A(4) of the Financial Management
Act 1994, for "financial year" (where twice
occurring) substitute "reporting period".
25 (3) In section 53A(5) of the Financial Management
Act 1994--
(a) for "31 October" (where first occurring)
substitute "the day that is 4 months after
the end of the reporting period";
30 (b) for "31 October" (where second occurring)
substitute "that day".
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Part 2--Financial Management Act 1994
(4) In section 53A(6) of the Financial Management
Act 1994, for "financial year" substitute
"reporting period".
51 New section 53B inserted
5 After section 53A of the Financial Management
Act 1994 insert--
"53B Application of accounting standards
(1) Subject to subsection (2) and any
determination under subsection (3) or (4),
10 a financial statement or report prepared
under this Act must be consistent with
an Australian Accounting Standard that
applies to the entity.
(2) Subsection (1) does not apply to the extent
15 that an Australian Accounting Standard
prevents the preparation of an annual report
in accordance with section 53(1)(b).
(3) The Minister may determine, by notice
published in the Government Gazette, that
20 all or part of an Australian Accounting
Standard does not apply to a department
or public body specified in the notice.
(4) The Minister may determine, by notice
published in the Government Gazette,
25 that a specified accounting practice applies
in place of all or part of an Australian
Accounting Standard specified in a notice
under subsection (3) in respect of the
department or public body specified in
30 that notice.
(5) A determination under subsection (3) or (4)
must be consistent with the regulations.".
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Part 2--Financial Management Act 1994
52 Heading to Part 7A substituted
For the heading to Part 7A of the Financial
Management Act 1994 substitute--
"Part 7A--Procurement
5 management".
53 Specified entities
In section 54AA(3) of the Financial
Management Act 1994, for "supply policy"
substitute "procurement policy".
10 54 Establishment of Victorian Government Purchasing
Board
(1) Insert the following heading to section 54A of the
Financial Management Act 1994--
"Victorian Government Procurement Board".
15 (2) For section 54A(1) of the Financial Management
Act 1994 substitute--
"(1) The Victorian Government Purchasing
Board established under this section as in
force immediately before 1 July 2018 is
20 continued as the Victorian Government
Procurement Board, subject to and in
accordance with this Act.".
55 Section 54B substituted
For section 54B of the Financial Management
25 Act 1994 substitute--
"54B Functions of Board
The Board has the following functions--
(a) to provide advice to the Minister on
policies relating to the procurement of
30 goods and services by departments and
specified entities;
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Part 2--Financial Management Act 1994
(b) after consultation with the Minister,
to prepare, make, amend and revoke
procurement policies;
(c) to provide advice and information to
5 departments and specified entities on
their implementation of procurement
policies;
(d) to foster best practice capability,
efficiency and effectiveness for people,
10 processes, governance and systems in
the procurement of goods and services
by departments and specified entities;
(e) at the request of the Minister or the
accountable officer of a department or
15 specified entity, to review any matter
related to the procurement of goods
and services by the department or
specified entity and to recommend any
improvements that the Board considers
20 appropriate;
(f) to review a department or specified
entity's compliance with procurement
policies and directions given by the
Minister under section 8;
25 (g) to report the findings of reviews under
paragraph (f) to the Minister and to the
accountable officer of the department
or specified entity;
(h) any other functions conferred on the
30 Board by this or any other Act.".
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Part 2--Financial Management Act 1994
56 Powers of Board
(1) For section 54C(2) of the Financial Management
Act 1994 substitute--
"(2) Without limiting subsection (1), the Board
5 may--
(a) require accountable officers of
departments and specified entities to
undertake an internal audit to assess
compliance by departments and
10 specified entities with procurement
policies and Ministerial directions
that relate to procurement and provide
internal audit reports to the Board; and
(b) require accountable officers of
15 departments and specified entities to
provide the Board with information
or data relating to procurement; and
(c) exercise any other powers conferred
on the Board by this Act or the
20 regulations.".
(2) In section 54C(3) of the Financial Management
Act 1994--
(a) for "An accountable officer" substitute
"The accountable officer of a department
25 or specified entity";
(b) for paragraph (a) substitute--
"(a) internal audit reports referred to
in subsection (2)(a);";
(c) for paragraph (b) substitute--
30 "(b) information or data referred to
in subsection (2)(b).".
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Part 2--Financial Management Act 1994
57 Delegation
In section 54J of the Financial Management
Act 1994--
(a) after "a member of the Board" insert
5 ", or a person employed by the Board,";
(b) in paragraph (a), for "compliance audits
to be undertaken under section 54C(2)(d)"
substitute "internal audits to be undertaken
under section 54C(2)(a)";
10 (c) in paragraph (b), for "supply policies"
substitute "procurement policies".
58 Minister's directions
For section 54K(2) of the Financial Management
Act 1994 substitute--
15 "(2) A copy of any direction must be included in
the report of the Board's operations during
the reporting period in which the direction
is given prepared under section 45.".
59 Supply policies
20 (1) Insert the following heading to section 54L of the
Financial Management Act 1994--
"Procurement policies".
(2) In section 54L(1) of the Financial Management
Act 1994--
25 (a) for "The Board" substitute "After
consultation with the Minister, the Board";
(b) for "supply" (where twice occurring)
substitute "procurement";
(c) omit "and the management and disposal of
30 goods by departments and specified entities".
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Part 2--Financial Management Act 1994
(3) In section 54L(2), (3) and (4) of the Financial
Management Act 1994, for "supply" substitute
"procurement".
60 Section 54M substituted
5 For section 54M of the Financial Management
Act 1994 substitute--
"54M Procurement principles
The procurement of any goods, services or
works (including public construction) by or
10 on behalf of a department or public body
must be undertaken consistently with the
following principles--
(a) the value for money of the
procurement, taking into account--
15 (i) the total benefits and costs over
the life of the goods, services or
works procured; and
(ii) environmental, social and
economic factors; and
20 (iii) any risk related to the
procurement;
(b) accountability for procurement
commensurate with appropriate
levels of authority and responsibility;
25 (c) probity through the application of
integrity, ethical behaviour, fairness
and transparency in the conduct of
procurement processes;
(d) scalability so that procurement
30 governance policies and processes are
appropriate and efficient, taking into
account the capability of available
resources and the complexity of the
procurement undertaken.".
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Part 2--Financial Management Act 1994
61 Minister may lease land or premises for other
Ministers
(1) Insert the following heading to section 54O of the
Financial Management Act 1994--
5 "Minister may obtain lease or licence over land
or premises for other Ministers".
(2) In section 54O of the Financial Management
Act 1994, for "take on lease, on any terms and
conditions the Minister thinks fit," substitute
10 "obtain, on any terms and conditions the Minister
thinks fit, a lease or licence over".
62 Writing off
In section 55 of the Financial Management
Act 1994, for "chief finance and accounting
15 officer" substitute "chief finance officer".
63 Liability in respect of loss or damage
(1) In section 57(3) of the Financial Management
Act 1994, for "chief finance and accounting
officer" (where twice occurring) substitute
20 "chief finance officer".
(2) In section 57(5) of the Financial Management
Act 1994, for "chief finance and accounting
officer" substitute "chief finance officer".
64 Regulations
25 (1) After section 59(1)(b) of the Financial
Management Act 1994 insert--
"(ba) financial performance planning for and
financial performance management of
authorities and public bodies;
30 (bb) policies, systems and procedures for the
assessment of, or the provision of advice
relating to, the financial performance
of authorities and public bodies by a
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Part 2--Financial Management Act 1994
responsible body, an accountable officer
or a chief finance officer;
(bc) policies, systems and procedures for the
provision of advice or the taking of any
5 corrective or preventative action following
an audit conducted under the Audit
Act 1994;".
(2) After section 59(1)(d) of the Financial
Management Act 1994 insert--
10 "(da) compliance by a department or public body,
or class of department or public body, with
Australian Accounting Standards;".
(3) For section 59(1)(i) of the Financial
Management Act 1994 substitute--
15 "(i) policies, systems and procedures for the
procurement of goods and services for or
on behalf of the State or by or on behalf
of departments or public bodies;
(ia) subject to consultation with the Minister
20 responsible for the administration of
Part 4 of the Project Development and
Construction Management Act 1994,
policies, systems and procedures for the
procurement of any public construction by
25 or on behalf of the State or by or on behalf
of departments or public bodies;
(ib) procedures for the application of
appropriations;".
(4) In section 59(1A) of the Financial Management
30 Act 1994, for "another Act" substitute "any other
Act".
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Part 2--Financial Management Act 1994
(5) In section 59(3) of the Financial Management
Act 1994--
(a) for "statement of accounting standards or"
substitute "accounting standard or other";
5 (b) paragraphs (a), (b), (c) and (e) are repealed.
65 New section 65 inserted
After section 64 of the Financial Management
Act 1994 insert--
"65 Financial Management and Constitution
10 Acts Amendment Act 2017--
determinations
Despite the repeal of section 6 by the
Financial Management and Constitution
Acts Amendment Act 2017, a determination
15 under that section that is in force
immediately before the commencement
of section 5 of that Act continues to have
effect as if it were a determination made
under section 45B.".
20 66 New sections 66 to 68 inserted
At the end of Part 9 of the Financial
Management Act 1994 insert--
'66 Financial Management and Constitution
Acts Amendment Act 2017--general
25 transitional provisions
(1) Balances recorded for the Consolidated
Fund immediately before the commencement
of section 69 of the Financial Management
and Constitution Acts Amendment
30 Act 2017 are taken to be recorded for the
Consolidated Fund as continued under
Division 2 of Part V of the Constitution
Act 1975.
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Part 2--Financial Management Act 1994
(2) Trust Accounts existing immediately before
the commencement of section 69 of the
Financial Management and Constitution
Acts Amendment Act 2017 (whether or not
5 established by an Act) continue as Trust
Accounts under Part V of the Constitution
Act 1975.
(3) Subject to section 67, balances recorded
for a Trust Account immediately before
10 the commencement of section 69 of the
Financial Management and Constitution
Acts Amendment Act 2017 are taken to be
recorded for that Trust Account as continued
under Part V of the Constitution Act 1975.
15 (4) Despite the amendment of the definition of
department in section 3 by the Financial
Management and Constitution Acts
Amendment Act 2017, Part 7A continues
to have effect, as if that definition had not
20 been so amended, in relation to a prescribed
office within the meaning of the Public
Administration Act 2004.
(5) Despite the amendment of the definition of
public body in section 3 by the Financial
25 Management and Constitution Acts
Amendment Act 2017, Part 7 as in force
immediately before the commencement of
section 3(7) of the Financial Management
and Constitution Acts Amendment
30 Act 2017 continues to have effect in relation
to a public body within the meaning of
paragraph (c) of that definition as in force
immediately before that commencement.
(6) Section 93(5) of the Constitution Act 1975
35 as inserted by the Financial Management
and Constitution Acts Amendment
Act 2017 applies to a Trust Account
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Financial Management and Constitution Acts Amendment Bill 2017
Part 2--Financial Management Act 1994
established under section 19(1) or 23(1)
existing immediately before the
commencement of section 69 of the
Financial Management and Constitution
5 Acts Amendment Act 2017.
(7) Despite the commencement of the Financial
Management and Constitution Acts
Amendment Act 2017, this Act as in force
immediately before 1 July 2019 applies in
10 respect of the preparation of any annual
financial report, mid-year report or quarterly
financial report--
(a) required to be prepared for the financial
year ending 30 June 2019 or any part of
15 that financial year; and
(b) that has not been prepared immediately
before 1 July 2019.
(8) For the purposes of section 33 as substituted
by section 28 of the Financial Management
20 and Constitution Acts Amendment
Act 2017, the closing depreciation
equivalent balance for each department
for the financial year ending 30 June 2019
is the amount determined by the Treasurer
25 in consultation with the relevant Minister
in relation to the department.
67 Financial Management and Constitution
Acts Amendment Act 2017--Working
Accounts
30 (1) This section applies to a Trust Account
established--
(a) under section 23(1) existing
immediately before the commencement
of section 18 of the Financial
35 Management and Constitution
Acts Amendment Act 2017; and
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Part 2--Financial Management Act 1994
(b) for a nominated department within
the meaning of section 23(5) as
in force immediately before that
commencement that is not a department
5 within the meaning of section 23(5)
as in force on that commencement.
(2) Despite the amendment of section 23 by the
Financial Management and Constitution
Acts Amendment Act 2017, section 23(2),
10 (3), (4) and (5), as in force immediately
before the commencement of section 18
of the Financial Management and
Constitution Acts Amendment Act 2017,
continue to have effect in relation to a Trust
15 Account to which this section applies as if
section 23 had not been so amended.
68 Financial Management and Constitution
Acts Amendment Act 2017--opening
balance of Working Accounts
20 (1) The Minister administering section 93(1) of
the Constitution Act 1975, on establishing
a Working Account under section 23(1) for
a department, must record as the opening
balance of that Working Account the sum
25 of--
(a) an amount that represents the opening
balance, as at 1 July 2019, of the
account of the Department of Treasury
and Finance known as "45000--SAU
30 Inter-Entity Account"; and
(b) subject to subsection (2), an amount
determined by the Treasurer to fairly
represent the balance, as at the end of
the financial year ending 30 June 2019,
35 of the expenses, liabilities and
obligations incurred by the department
for purposes determined by the
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Part 2--Financial Management Act 1994
Treasurer, in relation to which an
appropriation of the Consolidated Fund
has not been applied as at that date.
(2) The total of all amounts determined by the
5 Treasurer for the purposes of subsection
(1)(b) must not exceed $2 billion.
(3) Details of any transactions under this
section must be reported in the quarterly
financial report for the quarter ending
10 30 September 2019 transmitted under
section 27D.
(4) The Consolidated Fund is appropriated to
the extent necessary for the purposes of this
section.'.
15 67 Schedule 1 repealed
Schedule 1 to the Financial Management
Act 1994 is repealed.
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Financial Management and Constitution Acts Amendment Bill 2017
Part 3--Constitution Act 1975
Part 3--Constitution Act 1975
68 Definitions
(1) In section 5 of the Constitution Act 1975, for the
definition of Consolidated Fund substitute--
5 "Consolidated Fund means the account known
as the Consolidated Fund established and
kept under section 9(1) of the Financial
Management Act 1994 as in force
immediately before the commencement
10 of section 8 of the Financial Management
and Constitution Acts Amendment
Act 2017;".
(2) In section 5 of the Constitution Act 1975, in
the definition of total pension entitlement, for
15 "that day." substitute "that day;".
(3) Insert the following definitions in section 5 of
the Constitution Act 1975--
"Public Account means the Public Account
opened and maintained under section 14 of
20 the Financial Management Act 1994 as in
force immediately before the commencement
of section 10 of the Financial Management
and Constitution Acts Amendment
Act 2017;
25 Trust Account means an account established
in the Trust Fund by or under an Act;
Trust Fund means the account known as
the Trust Fund that comprises all Trust
Accounts.".
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Financial Management and Constitution Acts Amendment Bill 2017
Part 3--Constitution Act 1975
69 Divisions 1 and 2 of Part V substituted
For Divisions 1 and 2 of Part V of the
Constitution Act 1975 substitute--
"Division 1--Public Account
5 89 Public Account
(1) The Minister must maintain the Public
Account in accordance with this Act.
(2) Money that is required or authorised under
this or any other Act to be credited to or
10 deducted from the Consolidated Fund or a
Trust Account must be paid into or out of
the Public Account.
(3) An amount of money paid into or out of
the Public Account under subsection (2)
15 must be credited to, or deducted from, the
Consolidated Fund or the Trust Account,
as the case may be.
90 Administration of the Public Account
(1) Money in the Public Account must be
20 deposited in an account with an ADI.
(2) The Minister may, subject to this or any
other Act, direct that--
(a) the Public Account is to be deposited
in a different account with an ADI; and
25 (b) the first account is to be closed.
Division 2--The Consolidated Fund
91 The Consolidated Fund
(1) The Consolidated Fund is continued in
accordance with this Act.
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Part 3--Constitution Act 1975
(2) Money must be credited to the Consolidated
Fund if--
(a) the money is--
(i) raised by or on behalf of or
5 received by the State; or
(ii) payable under an Act on behalf
of the State to a person who is
employed by or under an Act
or holds an office or place
10 established by or under an Act;
and
(b) the money is not required or authorised
by or under an Act to be credited to--
(i) a Trust Account; or
15 (ii) an account that does not form part
of the Public Account.
(3) The balance of the Consolidated Fund may
be less than zero.
92 Power to appropriate the Consolidated
20 Fund
(1) The Consolidated Fund may be appropriated
by or under an Act for the purposes specified
in that Act.
(2) The Consolidated Fund may not be
25 appropriated except by or under this
or any other Act.
(3) An amount may not be deducted from
the Consolidated Fund except by or under
this or any other Act.
30 (4) The correction of an error in any record of
the balance of the Consolidated Fund is not,
for the purposes of this section, taken to be--
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Part 3--Constitution Act 1975
(a) an appropriation of the Consolidated
Fund for the purposes of this section; or
(b) a deduction from the Consolidated
Fund.
5 Division 2A--The Trust Fund
93 The Trust Fund
(1) The Minister may establish Trust Accounts
in the Trust Fund and define the purposes
for which they are established.
10 (2) All money in an account that is a Trust
Account for the purposes of this section
is taken to be money in the Trust Fund.
(3) Subject to this or any other Act, the Minister
may determine that interest or earnings
15 received from the investment of any money
from a Trust Account is to be credited to that
Trust Account.
(4) Money from a Trust Account may not be
expended except for the purpose for which
20 that Trust Account is established or under
the authority of this or any other Act.
(5) The Minister may direct that a Trust Account
be closed and, after all liabilities of the Trust
Account have been met, the Trust Account
25 must be closed accordingly.
(6) Subsection (5) does not apply in relation
to an account in the Trust Fund established
under an Act other than this Act.
(7) The Minister may direct that the following
30 be credited to another Trust Account or to
the Consolidated Fund--
(a) any money in a Trust Account that is
not required for the purposes for which
that Trust Account is established;
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Part 3--Constitution Act 1975
(b) the balance of a Trust Account closed
under this section.
(8) Subject to this or any other Act, a transaction
must not be made on the Public Account if--
5 (a) that transaction would require a
deduction to be made from a Trust
Account; and
(b) the deduction would leave the balance
of the Trust Account at less than zero.
10 (9) The correction of an error in any record
of the balance of the Trust Fund or a Trust
Account is not taken to be a transaction
on the Trust Fund or Trust Account for the
purposes of this section.".
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Financial Management and Constitution Acts Amendment Bill 2017
Part 4--Consequential amendments
Part 4--Consequential amendments
70 Project Development and Construction
Management Act 1994
(1) In section 3(1) of the Project Development
5 and Construction Management Act 1994,
for the definition of public body substitute--
"public body has the same meaning as in the
Financial Management Act 1994;".
(2) Insert the following heading to section 31 of
10 the Project Development and Construction
Management Act 1994--
"Inconsistency with procurement policies".
(3) In section 31 of the Project Development and
Construction Management Act 1994, for
15 "supply policy" substitute "procurement policy".
71 Public Administration Act 2004
After section 16(1)(ja) of the Public
Administration Act 2004 insert--
"(k) the chairperson in relation to the Board
20 within the meaning of the Financial
Management Act 1994;".
72 Victorian Industry Participation Policy Act 2003
In section 8(a) of the Victorian Industry
Participation Policy Act 2003, for "Purchasing
25 Board" substitute "Procurement Board".
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Financial Management and Constitution Acts Amendment Bill 2017
Part 5--Repeal of amending Act
Part 5--Repeal of amending Act
73 Repeal of amending Act
This Act is repealed on 1 July 2020.
Note
5 The repeal of this Act does not affect the continuing operation
of the amendments made by it (see section 15(1) of the
Interpretation of Legislation Act 1984).
═════════════
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Financial Management and Constitution Acts Amendment Bill 2017
Endnotes
Endnotes
1 General information
See www.legislation.vic.gov.au for Victorian Bills, Acts and current
authorised versions of legislation and up-to-date legislative information.
By Authority. Government Printer for the State of Victoria.
581253B.I-28/11/2017 67 BILL LA INTRODUCTION 28/11/2017
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