The Queensland Treasury Annual Report 2019-2020 is an integral part of our corporate governance framework and one of the main tools we use to ensure we are accountable to the Queensland Parliament and the community about our activities.
These annual financial statement requirements include the Minimum Reporting Requirements and assist agencies in the preparation of their financial statements. The requirements provide updates on new and revised accounting policies and standards and additional guidance and advice on the application of such policies and standards.
Our strategic plan outlines how we will achieve our vision to grow the Queensland economy and improve the wellbeing of all Queenslanders.
It reflects our purpose to leverage our Government-wide perspective to provide trusted, impartial and influential advice and services to clients, and partner for better outcomes in matters relating to the economy and state finances, revenue and commercial services and support for fair, safe and productive workplaces.
The Deputy Premier and Treasurer, the Honourable Jackie Trad MP, delivered the Budget speech in Parliament on Tuesday 11 June 2019. The Queensland Government produces several documents to communicate the key elements of the State Budget. The suite of budget papers includes:
The purpose of the Cross-Agency Funding Framework (the Framework) is to outline the options available to Government and departments to fund cross-agency initiatives. Specifically, the Framework provides alternative models for how funding can be distributed to agencies, i.e. how best to get funding from the centralised Consolidated Fund out to departments (who then distribute funds to other entities where required). The models can be applied whether an initiative is funded from internal sources, from a reprioritisation of existing funding, or by new funding. Several agencies already utilise the Framework’s models, albeit on an informal basis.
The Framework provides for three broad types of funding models:
• Lead agency funding
• Multi-agency funding (simple), and
• Multi-agency funding (complex).
The funding approach adopted will depend upon the complexity surrounding the initiative, particularly the number of agencies involved.
The Financial Accountability Handbook (the Handbook) has been designed to assist accountable officers and statutory bodies discharge their obligations under the Financial Accountability Act 2009 (the Act), the Financial and Performance Management Standard 2019 (the Standard), and the Financial Accountability Regulation 2019 (the Regulation).
The Overview of Queensland’s Financial Accountability Framework has been prepared to provide information to all interested stakeholders about the financial accountability framework in Queensland, as it applies to departments and statutory bodies. It outlines processes and legislative requirements with respect to the annual State Budget and financial reporting by the whole of Government and individual departments and statutory bodies.