Financial Management and Accountability Framework

This table sets out the Northern Territory Government's Financial Management and Accountability Framework for: agencies listed in Schedule 1 of the Administrative Arrangements Order; and government business divisions as outlined in the Treasurer's Determination.

  • LEGAL OBLIGATION + MINIMUM DETAIL
  • MODERATE DETAIL
  • MODERATE TO HIGH DETAIL

LEGISLATION


**mandatory requirements**

TERRITORY FINANCIAL LEGISLATION

Fiscal Integrity and Transparency Act (FITA)


Establishes the principles underpinning the Government's financial policy, management and reporting.

Financial Management Act (FMA)


Provides the legislative basis for the efficient and effective management of the Territory's financial resources.

Appropriation Act


Provides the legal authority for the Government's funding decisions.
 

Financial Management Regulations (FMR)


Supplements the FMA, addressing losses, overpayments, rights of recovery and limits for transfers of allocations.

 

Commonwealth Legislation

 

Other Territory Legislation

SUPPLEMENTARY LEGISLATION, STANDARDS AND POLICIES

**mandatory requirements**

DIRECTIONS, CIRCULARS AND DETERMINATIONS

Treasurer's Directions (TDs)


Supports the FMA by specifying the practices and procedures that must be observed by Accountable Officers in the financial management of their agencies.
(FMA section 38)

Treasurer's Determinations


Sets out determinations made by the Treasurer under powers provided in the FMA, including determinations on: Accountable Officers and exemptions, Accountable Officer's trust accounts, and governmnet business divisions.

Treasury Circulars

Provides instructions and advice on a range of topics such as: tax obligations; updates and accouncements relating to the financial management and accountability framework; the Territory budget cycle and associated processes; and account and procurement issues.

 

Australiam Accounting Standards

Other Territory (Whole-Of-Government) Policies

RESOURCE MATERIALS AND AGENCY SPECIFIC POLICIES AND PROCEDURES

**mandatory and non-madatory requirements**

Accounting and Property Manual
(mandatory)


Aids Accountable Officers in: ensuring proper records of all transactions affecting their Agency are kept; employees comply with the requirements of the FMA, FMR and TDs; and that procedures within the Agency afford proper internal controls at all times.
(FMA section 16)

Treasury Guideance Documents
(non-mandatory)


Assists agencies to comply with mandatory requirements and provides guidance on commonly asked questions or specific issues.

Other Agency Specific Policies, Procedures, and Guidelines
(mandatory and non-mandatory)


Supports employees to operate in accordance with their agency's requirements; and to discharge their duties under various legislative, supplementary policies (including whole-of-government), directions, and standards.

Financial Management Toolkit
(non-mandartory)


Draws together elements of the FITA, FMA, FMR, TDs, policies, and corporate service provisions. It is designed to assist Accountable Officers to discharge their responsibilities under the Framework.

Last updated: 27 March 2018