APPENDIX C – COMPLIANCE INDEX – REQUIREMENTS OF THE FINANCIAL MANAGEMENT ACT 1994 The provisions of the Financial Management Act 1994 have been complied with in these budget papers. Table C1 details these requirements together with appropriate references in the document. Table C1: Statements required by the Financial Management Act 1994 and their location in the 2012-13 Budget Relevant section of the Act and corresponding requirement Sections 23E-G of the Financial Management Act 1994 Statement of financial policy objectives and strategies for the year. Sections 23H-J of the Financial Management Act 1994 Estimated financial statements for the year comprising: – an estimated statement of financial performance – an estimated statement of financial position at the end of the year – an estimated statement of cash flows for the year – a statement of the accounting policies on which these statements are based and explanatory notes 2012-13 Statement of Finances Location Budget Paper No. 2, Chapter 1 Economic and fiscal overview Budget Paper No. 5, Chapter 1 Estimated Financial Statements and notes Budget Paper No. 5, Chapter 1 Estimated Financial Statements and notes Appendix C 253 Table C1: Statements required by the Financial Management Act 1994 and their location in the 2012-13 Budget (continued) Relevant section of the Act and corresponding requirement Section 23K of the Financial Management Act 1994 Accompanying statements in association with each set of estimated financial statements comprising: – a statement of the material economic and other assumptions that have been used in preparing the estimated financial statements – a discussion of the sensitivity of the estimated financial statements to changes in those economic and other assumptions – an overview of the estimated tax expenditures for the financial years covered by the estimated financial statements – a statement of risks that may have a material effect on the estimated financial statements Section 26(1) of the Financial Management Act 1994 A quarterly financial report for each quarter of each financial year. Section 40 of the Financial Management Act 1994 A statement of information under departmental headings setting out: – a description of the goods and services to be produced or provided by each department during the period to which the statement related, together with comparative information for the preceding financial year 254 Appendix C Location Budget Paper No. 2, Chapter 2 Economic context Budget Paper No. 2, Chapter 4 Budget position and outlook Budget Paper No. 5, Chapter 1 Estimated Financial Statements and notes Budget Paper No. 2, Appendix A Sensitivity analysis table Budget Paper No. 5, Chapter 5 Tax expenditures and concessions Budget Paper No. 2, Chapter 2 Economic context Budget Paper No. 2, Chapter 4 Budget position and outlook Budget Paper No. 5, Chapter 6 Contingent assets and contingent liabilities Budget Paper No. 5, Appendix B 2011-12 Budget outcome incorporating the financial report for the March quarter 2012 Budget Paper No. 3, Chapter 2 Departmental performance statements 2012-13 Statement of Finances Table C1: Statements required by the Financial Management Act 1994 and their location in the 2012-13 Budget (continued) Relevant section of the Act and corresponding requirement – a description of the amount available or to be available to each department during the period to which the statement relates, whether appropriated by the Parliament for that purpose or otherwise received or to be received by the department, together with comparative figures for the preceding financial year – the estimated amount of the receipts and receivables of each department during the period to which the statement relates, together with comparative figures for the preceding financial year Section 16B of the Audit Act 1994 The Auditor-General review and report on the estimated financial statements to ensure they are consistent with accounting convention and that the methodologies and assumptions used are reasonable. 2012-13 Statement of Finances Location Budget Paper No. 5, Chapter 3 Departmental financial statements Budget Paper No. 5, Chapter 1 Estimated Financial Statements and notes Appendix C 255 256 Appendix C 2012-13 Statement of Finances