You will need to undertake a number of initial and ongoing tasks to access, manage and use public resources. This includes setting up suitable funding arrangements, establishing bank accounts and appropriate cash management arrangements as well as ongoing monthly and annual financial reporting.
You may need to agree interim funding and cash management arrangements with your portfolio entity while you establish your own processes.
Topics covered in this section of the guide:
- Funding Arrangements (appropriations)
- Banking and Cash Management
- Budget and Mid-year Update of budget and forward estimates
- Portfolio Budget Statements
- Monthly Reporting (actuals and estimates)
- Annual Financial Reporting (estimates and financial statements)
- Consolidated Financial Statements
- Final Budget Outcome
- Organisations and Appointments Register
- Central Budget Management System (CBMS)
Useful resources and contact information are available in the table below.
Key Tasks
| Task | Explanation | Resources | Contact |
|---|---|---|---|
| Set up funding arrangements | You cannot spend Commonwealth money without an appropriation. Appropriations are established through the Budget’s annual appropriation acts or through separate legislation establishing special appropriations (including special accounts). Consult Finance to better understand your particular appropriation arrangements.
Commonwealth entities expecting to generate their own revenue will need to determine if these receipts can be retained. Any foreign exchange implications for receipts and payments need to be in accordance with the Foreign Exchange Risk Management Guidelines. | Guide to appropriations (RMG 100) Australian Government foreign exchange risk management - guidelines for entities Estimates Memorandum 2017-47 Special Accounts – Policy, Guidance and CBMS (available through CBMS) Estimates Memorandum 2015-23 GST Appropriations Management (available through CBMS) Estimates Memorandum 2021-04 - Repayments made using the Special Appropriation in section 77 of the PGPA Act (available through CBMS) Guide 03 - Quick Reference Guide - Special Accounts - July 2022 (available through CBMS) CBMS user reference material (guides available on the CBMS home page) | Annual appropriations Annual.Appropriations@finance.gov.au
Special appropriations Special.Appropriations@finance.gov.au
Charging Policy Team
|
| Establish bank accounts and cash management arrangements | There are rules for handling and managing cash and establishing bank accounts, new Commonwealth entities must contact Finance for cash management advice. Non-corporate Commonwealth entities need to contact Finance when a new bank account is opened and to establish primary bank account(s) to receive funds from the Official Public Account (OPA). There is a requirement to enter and update payment forecasts and receipts (if applicable) into CBMS. Corporate Commonwealth entities have their drawdowns made by their Portfolio entities on their behalf as needed, consistent with any legislative requirements. | The banking of cash by Commonwealth entities (RMG 413)
Estimates Memorandum – Banking and Cash Management by Non-Corporate Commonwealth Entities (available through CBMS)
| Banking and Cash Management 02 6215 3660
|
| Prepare Budget Estimates | All Commonwealth controlled entities are required to provide estimates for the Australian Government Budget. General government agencies are required to provide estimates for the current budget and 3 forward years. Public financial and non-financial agencies are required to provide estimates for the current and budget year. | Estimates Memorandum – Budget Timetable for Updating Estimates (available through CBMS) | Agencies need to consult their Agency Advice Unit in Budget group about the Budget process including the new policy process. 02 6215 2222
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| Prepare updated budget estimates for the Mid-Year Economic and Fiscal Outlook (MYEFO) | MYEFO provides updated information on the Government’s fiscal position and compares estimated expenditure to actual expenditure. All Commonwealth controlled entities are required to provide estimates for the MYEFO update of the Australian Government Budget. General government agencies are required to provide estimates for the current budget and 2 forward years. Public financial and non-financial agencies are required to provide estimates for the current year only. | Estimates Memorandum – Timetable for Mid-year Update of the Estimates (available through CBMS) | Agencies need to consult their Agency Advice Unit in Budget group about the MYEFO process including the new policy process. 02 6215 2222
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| Prepare Portfolio Budget Statements (PBS) and/or Portfolio Additional Estimates Statements (PAES) | Commonwealth entities and Commonwealth companies that receive annual appropriations must prepare a PBS (and/or a PAES). The PBS and PAES are tabled in Parliament as explanatory documents to the Appropriations Bills. | Guide to Appropriations (RMG 100) Guide to Preparing the Portfolio Budget Statements Guide to Preparing the Portfolio Additional Estimates Statements | Budget Framework |
| Prepare monthly actuals and monthly estimates profiles | New General Government Sector (GGS) entities are required to provide Finance with monthly financial statements, monthly preliminary underlying cash balance information (applicable to material GGS entities only) and Chief Financial Officer certified monthly profiles after each major annual budget updates (Budget & MYEFO).
| Estimates Memorandum – Financial Reporting Timetable for Actuals and Monthly Estimates (available through CBMS) Estimates Memorandum – Monthly Profiles for the Budget (available through CBMS) Estimates Memorandum - preliminary underlying cash balance reporting requirements (available through CBMS) CBMS user reference material (guides available on the CBMS home page) | Monthly Reporting monthlyreportingteam@finance.gov.au Monthly Reporting Team hotline: 02 6215 1668
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| Prepare annual financial statements | Commonwealth entities and Commonwealth companies must prepare audited annual financial statements, including for their first reporting period, (irrespective of the commencement date). Entities created late in the reporting period may require assistance from their portfolio department. These statements are tabled in Parliament as part of the Annual Report. | PGPA Financial Reporting Rule 2015 Accounting for Annual Appropriations (RMG 116) Commonwealth entities Financial Statements Guide (RMG 125) Financial Reporting for Commonwealth Entities (including Primary Reporting and Information Management Aid (PRIMA)) | Annual Financial Statements accountingpolicy@finance.gov.au
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| Provide information to input to the Consolidated Financial Statements and Final Budget Outcome | The Consolidated Financial Statements are prepared based on the audited financial statements of Commonwealth controlled entities. Refer to the applicable resources for guidance on the set of information, including CFS supplementary reporting, that are required to be provided to the Department of Finance.
| Estimates Memorandum – End of Year Financial Reporting Requirements (available through CBMS) Estimates Memorandum – CFS – Supplementary Reporting Pack (available through CBMS) | Consolidated Financial Statements CFS Team hotline: 02 6215 1668
|
| Provide information for inclusion in the Organisations and Appointments Register (OAR) | New Commonwealth entities and Commonwealth companies are required to provide information to Finance (through OAR Portfolio Administrators in their portfolio department) for inclusion in the Australian Government Organisations Register (AGOR). All appointments made by the Government to Commonwealth bodies must be reported in accordance with Senate Order 15. Directory contacts for Senior Executive Service officers must also be updated. | Commonwealth Governance Structure Policy Australian Government Organisations Register
| Organisations and Appointments Register System |
| Central Budget Management System (CBMS) | The CBMS manages the flow of financial information between Finance and Commonwealth Government entities. CBMS facilitates:
| Further information about CBMS, including mandatory training and access to CBMS, can be found at Central Budget Management System. | CBMS: 1800 089 197
Phone: 02 6215 2000
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