The Commonwealth Resource Management Framework provides the legislative framework for collecting and banking relevant money by Commonwealth entities.
For more information, see the Guide to Appropriations.
The following sections provide further guidance on:
- Collecting revenue or money
- Banking cash
- Investing relevant money
- Borrowing and the use of credit cards
- Recovery of amounts owing to the Commonwealth
- Loss and recovery of relevant money
The Constitution requires revenue or money raised or received by the Commonwealth to form the Consolidated Revenue Fund (CRF), this includes:
- tax and levy receipts
- borrowings and loan repayments
- cost recovery activities.
Entities can only keep money received if:
- the money can be added to a special account
- receipts relate to certain matters prescribed in the Public Governance, Performance and Accountability (PGPA) Rule (retained receipts) which can be added to an entity’s recent appropriation.
The PGPA Act requires Commonwealth entities to promptly bank any revenue received. The following guide explains transactional and central banking, the roles involved in the management of cash, the Central Budget Management System (CBMS), and the relationship between appropriations and cash:
- RMG-413 The banking of cash by Commonwealth entities [ 165 KB]
- RMG-413 The banking of cash by Commonwealth entities [ 619 KB]
The following guide explains the law and policies relating to the banking of relevant money received by Ministers and officials. It explains when relevant money must be banked and when it is not required to be banked.
- RMG-300 Banking of relevant money received by Ministers and officials [ 112 KB]
- RMG-300 Banking of relevant money received by Ministers and officials [ 132 KB]
For more information contact firstname.lastname@example.org
The PGPA Act limits the ways Commonwealth entities can invest relevant money. The following guide describes control and reporting requirements relating to investments:
- RMG 301 - Investment by Commonwealth entities [ 132 KB]
- RMG 301 - Investment by Commonwealth entities [ 112 KB]
For guidance on the investment reporting requirements of Commonwealth entities, refer to the Financial Reporting Rule 2014
For further information on investment by Commonwealth entities, contact email@example.com.
The PGPA Act limits borrowing by Commonwealth entities:
- for non‑corporate Commonwealth entities, the Finance Minister has delegated the power to enter into an agreement for use of credit cards or credit vouchers, provided that the agreement requires the money borrowed to be repaid within 90 days
- for corporate Commonwealth entities, the PGPA Rule provides similar authority to accountable authorities to enter into an agreement for use of credit cards or credit vouchers, provided that the agreement requires the money borrowed to be repaid within 90 days.
The Government’s credit card payment policy establishes payment cards as the preferred method to pay suppliers, for eligible payments valued below $10,000. This policy, effective from 1 July 2014, applies to non-corporate Commonwealth entities:
- RMG 416 Facilitating Supplier Payment Through Payment Card [ 687 KB]
- RMG 416 Facilitating Supplier Payment Through Payment Card [ 195 KB]
For further information, refer to the frequently asked questions.
The PGPA Act and PGPA Rule requires the accountable authority of a non-corporate Commonwealth entities to pursue amounts owing to the Commonwealth.
- The Finance Minister has delegated to accountable authorities of non-corporate Commonwealth entities, the power to modify the terms and conditions on which an amount owing to the Commonwealth is to be paid
- for information on the process for waiving debts see Discretionary financial assistance
The PGPA Act requires officials to ensure the security of any relevant money they have custody of. An official can be liable for losing relevant money or relevant property.
Last updated: 09 February 2017