DETERMINATION NUMBER: 1998/10
SECTION 20 OF THE FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997
DETERMINATION TO ESTABLISH COMPONENTS OF THE RESERVED MONEY FUND AND TO VARY AN EXISTING DETERMINATION
I, Graham Millar, Branch Manager, Financial Framework Branch, pursuant to powers delegated to me by the Finance Chief Executive under section 53 of the Financial Management and Accountability Act 1997, determine, for the purposes of section 20 of that Act, that, for the Agencies listed below, the Federation Fund Reserve is established as a component of the Reserved Money Fund.
- Department of Agriculture, Fisheries and Forestry;
- Department of Communications, Information Technology and the Arts;
- Department of Education, Training and Youth Affairs;
- Department of Environment and Heritage;
- Department of Finance and Administration;
- Department of Industry, Science and Resources;
- Department of Transport and Regional Development;
- Department of Veterans’ Affairs.
I further determine that:
(a) amounts of the following kinds may be transferred from the Consolidated Revenue Fund to this component:
- all money appropriated by law for the purpose of payment into the component;
- all money transferred from the Federation Fund Reserve controlled by the Department of the Prime Minister and Cabinet for payment into the relevant new component established by this determination;
- all money received in consideration for any service, benefit, activity, transaction or other matter which is congruent with the expenditure purposes of the component;
- all money paid to the Commonwealth by any person for the expenditure purposes of the component; and,
(b) the purposes for which amounts may be debited to the component are:
- for expenditure on substantial capital projects throughout Australia which will mark the centenary of Federation and make a significant and lasting contribution to the Australian Community
(c) that the purposes of the Federation Fund Reserve controlled by the Department of the Prime Minister and Cabinet include transfer to the new components established by this determination.
Graham Millar
Delegate of the Finance Chief Executive
9 November 1998
ATTACHMENT
SUMMARY DETAILS OF COMPONENTS OF THE RESERVED MONEY FUND
Department of Agriculture, Fisheries and Forestry – Federation Fund Reserve
Department of Communications, Information Technology and the Arts – Federation Fund Reserve
Department of Education, Training and Youth Affairs – Federation Fund Reserve
Department of Environment and Heritage – Federation Fund Reserve
Department of Finance & Administration – Federation Fund Reserve
Department of Industry, Science and Resources – Federation Fund Reserve
Department of Transport and Regional Development – Federation Fund Reserve
Department of Veterans’ Affairs – Federation Fund Reserve
The establishment of the new components arises from agreement reached between the Department of Prime Minister and Cabinet (PM&C), the Department of Finance & Administration Budget Group and the listed Agencies whereby those Agencies are to be responsible and accountable for the delivery of those elements, agreed at Ministerial level, of the Federation Fund program that are within their portfolio responsibilities.
This determination provides for the transfer of funds from the Federation Fund Reserve administered by PM&C to the new components.