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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

3.8 Prepare and finalise annual State Budget papers (Treasury)

Treasury, in conjunction with agencies, prepares the State Budget papers, which include:

• Budget Paper Number 1 - the Treasurer's Budget Speech, more formally titled 'Appropriation Second Reading Speech'. The speech is delivered to Parliament and gives an overview of the Government's strategic direction, priorities and plans, its fiscal and economic policies and major expense and revenue initiatives.
• Budget Paper Number 2 - Budget Strategy and Outlook: provides the context and background to the Budget. This includes the Government's fiscal and economic strategy, key Budget priorities, overviews of revenue and expenses and financial statements for the Government as a whole. It also provides information on recent economic conditions, Queensland's economic performance, key economic forecasts and State and Commonwealth financial relations.
• Budget Paper Number 3 - Capital Statement: provides an overview of proposed capital projects.
• Regional Budget Statements: this series of 10 Regional Budget Statements outline the Government's ongoing investment in the regions and its delivery on key service and infrastructure commitments.
• Ministerial Portfolio Statements: a Ministerial Portfolio Statement is presented for each Minister's portfolio and for the Legislative Assembly. These documents provide an overview of key strategies and achievements, and details of agency outputs and financial statements.
• Departmental Highlights: provide a summary of key initiatives of each department in the Budget.
• Budget Highlights: provides a high-level summary of the key features of the Budget. It outlines the overall Budget strategy and policies, the main Budget aggregates and economic conditions, and the outlook for the Queensland economy.
• Appropriation Bills: there are two Bills: one for the Legislative Assembly (called the Appropriation (Parliament) Bill) and one for the rest of the agencies.

Governance

Queensland Treasury manage the editorial and publication process of the annual State Budget papers. Agencies contribute information for many of the Papers. The Treasurer presents the Papers to Parliament at the presentation of the State Budget each year.

Timing

Presentation of the Budget papers occurs on 'Budget Day', which is determined by Government each year.

Further information

• Ministerial Portfolio Statement Guidelines are posted annually during the Budget process on the MPS extranet, which requires a logon
• Parliamentary Procedures Handbook, Queensland Parliament

Last reviewed 4 August 2009

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Queensland Government