Agency Banking and associated cash management activities are key elements of efficient and effective financial management and are fundamental to the accrual resourcing and agency banking arrangements. The three main components are the collection, aggregation and disbursement of funds – requiring managers to understand the time value of money and ongoing strategic decision-making that takes account of cash flows, cash needs and cash generation patterns.
Australian Government Banking Review
Finance is currently reviewing the banking arrangements for the Australian Government. The banking framework plays an important role in assisting Government cash management and fiscal sustainability. The delivery of Government services is underpinned by the effective management of payments and receipts. These cash transactions are undertaken in accordance with banking policies. The goal of effective cash management is to have the right amount of cash in the right place at the right time, in order to meet the obligations of Government and the requirements of funding recipients, in a way that minimises costs and risks.
The banking review assesses whether the Government’s banking needs are being met efficiently, how innovations in payment methods may be used to improve cash management, whether new payment methods are being adopted by Agencies, and proposes options to strengthen the framework.
- Agency Banking Framework Guidance Manual
- Financial Management and Accountability (Finance Minister to Chief Executive) Delegation / Banking Delegations
- Instructions for Agencies - Reporting Requirements for High Value Transactions
- Instructions for Transactional Bankers - Agency Banking
Finance Circulars on Banking Related Matters
- 2009/07 - Issuing and Exercising Drawing Rights
- 2003/10 - Special Instruction regarding Special Public Money
- 2003/08 - Bank Accounts: Removal of Trust Accounts and Creation of Special Public Money (SPM) Accounts
- 2003/07 - Agency Banking Framework Guidance Manual
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