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Financial management framework

• Overview of the framework
• 1. Set high-level Government objectives and priorities
  • 1.1 Identify desired community outcomes
  • 1.2 Set fiscal objectives
  • 1.3 Set priorities and strategic objectives
  • 1.4 Produce specific purpose plans
• 2. Set agency service delivery objectives and strategies
  • 2.1a Undertake strategic planning
  • 2.1b Develop MPS Output Statements
  • 2.2 Undertake agency operational planning
  • 2.3 Undertake asset strategic planning
  • 2.4 Undertake ICT resources strategic planning
  • 2.5 Undertake other agency planning
• 3. Allocate resources to meet Government service demands and achieve desired outcomes
  • 3.1 Develop and approve global fiscal strategy based on whole-of-Government fiscal position
  • 3.2 Develop and approve annual Budget priorities
  • 3.3 Develop Budget process
  • 3.4 Regularly update CBRC on whole-of-Government fiscal position based on Forward Estimates
  • 3.5 Brief CBRC on agency Budget submissions
  • 3.6 Make resource allocation decisions and advise outcomes
  • 3.7 Update whole-of-Government Forward Estimates
  • 3.8 Prepare and finalise annual State Budget papers
  • 3.9 Endorse budget
  • 3.10 Table Budget papers in Parliament
  • 3.11 Conduct Estimates Committee Hearings
  • 3.12 Consider the Appropriation Bills
• 4. Allocate resources to meet agency service demands and achieve desired outcomes
  • 4.1 Prepare and develop agency budget priorities
  • 4.2 Submit budget submissions
  • 4.3 Portfolio Ministers advocate budget requests with CBRC
  • 4.4 Update Forward Estimates
  • 4.5 Prepare and finalise Budget and other documentation
  • 4.6 Manage interim supply period
  • 4.7 Address Estimates Committee questions on notice
  • 4.8 Prepare for and attend Estimates Committee hearings
  • 4.9 Undertake agencies' internal budget allocation processes
• 5. Manage resources to achieve Government outcomes
  • 5.1 Discuss with agencies emerging issues and identify risks and consider monitoring requirements
  • 5.2 Monitor issues and identify risks
  • 5.3 Brief CBRC on emergent and variations to resourcing requirements
  • 5.4 Make decisions on emergent and variations to resourcing requirements
  • 5.5 Revise whole-of-Government budget position and Forward Estimates
  • 5.6 Undertake end-of-year process
  • 5.7 Report actual results
• 6. Manage resources to deliver agency services
  • 6.1 Manage and monitor performance, monitor issues and identify risks and opportunities
  • 6.2 Realign agency resources to meet emergency resourcing
  • 6.3 Identify emergent and variations to resourcing requirements resulting from risks and opportunities
  • 6.4 Update Operational plans
  • 6.5 Undertake initial end-of-year process
  • 6.6 Report on final/actual results
  • 6.7 Provide information to Treasury
• Case studies
• Resources

3.3 Develop Budget process (developed by Treasury; approved by CBRC)

Treasury advises departments about the process and timing for submitting budget submissions, these may include long form/short form and proposed priorities for agency budget submissions.

Governance

While Treasury develop the draft Budget process each year, ultimately the Cabinet Budget Review Committee (CBRC) will approve the process (including proposed timing).

Timing

The timing of this process is dependent on the timing of the State Budget. Based on a June Budget, this process is likely to occur in December.

Further information

Budget Monitoring - Treasury Financial Circulars

Last reviewed 30 July 2009

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