Financial Management and Accountability Act 1997 - Determination 1998/7 - Determination to Establish Component of the Reserved Money Fund (09/11/1998)

Overview

The Financial Management and Accountability Act 1997 was enacted to ensure sound financial management and accountability within the Commonwealth. This legislation was introduced to address the need for a robust framework that governs the financial operations of Commonwealth entities, ensuring transparency, efficiency, and compliance with financial management standards. The Act was enacted by the Parliament of Australia and aims to provide a comprehensive set of rules and procedures to manage the financial resources of the Commonwealth effectively. The legislative instrument, Determination 1998/7, establishes a component of the Reserved Money Fund specifically for the Australian Childhood Immunisation Register Reserve under the authority delegated by the Finance Chief Executive. This component facilitates the allocation and management of funds dedicated to the operations of the Australian Childhood Immunisation Register, ensuring that the necessary resources are available to support the critical public health initiative.

Scope and Application

The Determination 1998/7 under Section 20 of the Financial Management and Accountability Act 1997 specifically applies to the establishment of the Department of Health and Aged Care – Australian Childhood Immunisation Register Reserve as a component of the Reserved Money Fund. This legislative instrument is enacted within the Commonwealth jurisdiction, impacting the financial framework and management of the specified component. The Act allows for the transfer of funds from the Consolidated Revenue Fund to this component, including monies appropriated by law, received in consideration for services related to the Australian Childhood Immunisation Register, and any payments made to the Commonwealth for this purpose. The funds in this component are designated for expenditure related to the operations of the Australian Childhood Immunisation Register, including payments made to providers for the provision of information. The scope of this legislation is confined to financial transactions and purposes directly associated with the Australian Childhood Immunisation Register, without any stated exclusions or exemptions within the provided text. Any further clarification or extension of the application of this Act would be addressed through subordinate instruments as authorised by the Act.

Key Provisions

This determination, made under section 20 of the Financial Management and Accountability Act 1997, establishes the Department of Health and Aged Care – Australian Childhood Immunisation Register Reserve as a component of the Reserved Money Fund (s. 1). This component is specifically intended to manage funds related to the operations of the Australian Childhood Immunisation Register. The Branch Manager, Financial Framework, authorised by the Finance Chief Executive, has determined that moneys can be transferred into this component from the Consolidated Revenue Fund under certain conditions (s. 2(a)). These conditions include moneys appropriated by law for the purpose of payment into the component, moneys received in consideration for services, benefits, activities, transactions or other matters congruent with the component’s expenditure purposes, and moneys paid to the Commonwealth for the component’s expenditure purposes. The funds can be debited from this component only for expenditure relating to the operations of the Australian Childhood Immunisation Register, including payments to providers for the provision of information (s. 2(b)). The Act imposes certain obligations and requirements on the parties involved. The Branch Manager, Financial Framework, has the responsibility to ensure that the transfers of funds into the Australian Childhood Immunisation Register Reserve are in accordance with the legislative conditions outlined in the determination. This includes verifying that the funds transferred are appropriately appropriated or received for the specified purposes and ensuring that the expenditure from this component strictly adheres to the operational needs of the Australian Childhood Immunisation Register. Additionally, the Department of Health and Aged Care must ensure that any payments made from this reserve are directly related to the register's operations and comply with the prescribed conditions. Breaches of the provisions outlined in this determination may result in various consequences. While the determination itself does not explicitly state specific offences or penalties, contraventions of the Financial Management and Accountability Act 1997 could lead to civil or criminal liabilities. Under the Act, unauthorised expenditure or mismanagement of funds could be subject to disciplinary action, fines, or other penalties as prescribed by the relevant laws. It is essential for the Branch Manager, Financial Framework, and the Department of Health and Aged Care to adhere strictly to the legislative requirements to avoid any potential legal repercussions.