The Queensland Treasury Annual Report 2021-22 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.
Our Queensland Treasury Strategic Plan 2022-2026 outlines how we will achieve our vision of a strong economy for all Queenslanders. It reflects our purpose to drive government priorities through our expert advice and services. Our objectives aim to grow the Queensland economy and create jobs, deliver fiscal sustainability, Empower our workforce for the future and drive public sector improvement.
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.
The Treasurer and Minister for Investment, the Honourable Cameron Dick MP, tabled the 2022-23 Queensland Budget in Parliament on Tuesday 21 June 2022.
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 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 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.