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Financial Management

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Treasury supports the Government's development of its strategic priorities and develops and promotes an integrated resource allocation and management framework for the Queensland public sector through the Financial Management Branch. Key responsibilities of the branch are:

Financial management framework

The Queensland Government's financial management framework forms the basis for decisions on planning, resource allocation and management, monitoring and reporting within the Queensland public sector.

The framework provides a structure within which to better understand the linkages between planning, resource allocation and management, monitoring and reporting. The overview of the framework can be read horizontally to show how whole-of-Government processes link with internal agency processes and it can be read vertically to show how planning processes link with resource allocation processes and in turn, how they link with management, monitoring and reporting processes.

Financial management framework documents can be accessed on the knowledge centre.

Strategic outcomes and priorities

Treasury is responsible for supporting the Government in its development and monitoring of its Charter of Social and Fiscal Responsibility. The Charter establishes a framework for developing strategic policy initiatives and allocating available resources across the Government. A Priorities in Progress report is published each year.

The Branch works in partnership across Treasury Office in supporting the Government in ensuring the social, economic and environmental outcomes for Queensland communities are optimised through the efficient and effective management of available government resources.

Financial reporting and accounting policies and controls

Treasury develops guidelines and policies which support financial reporting and financial integrity of State Government agencies. Specific responsibilities include development of annual Financial Reporting Requirements and ongoing support to the Government’s Financial Administration and Audit Act.

SAP whole-of-Government Chart of Accounts and Asset Register

Treasury's Financial Management Branch is the custodian of the whole-of-Government Chart of Accounts and Asset Classes used in the SAP Finance Solution.

To outline the roles and responsibilities of CorpTech, Financial Management Branch, Fiscal Reporting, Expert Reference Group and agencies/Shared Service Providers in  establishing and maintaining the whole-of-Government Chart of Account and Asset Register, a paper titled Implementation and Maintenance of the SAP whole-of-Government Chart of Accounts and Asset Classes has been prepared. Treasury also has prepared guidance material to assist agencies in establishing their Chart of Accounts for the SAP Finance Solution.

The Chart of Accounts and other guidance and reference material are available on the Treasury Office knowledge centre.

Asset management framework

Treasury is responsible for continued development of a coordinated approach to asset investment and management decisions across general government agencies. This role works to ensure the Government’s assets are aligned with and contribute to the achievement of the Government’s priorities and outcomes.

To assist agency's with their asset management, Treasury has prepared Asset management guidelines and templates which are consistent with the whole-of-Government approach.

Last reviewed 3 July 2008