As part of this update, Treasury has amended 20 Treasurer’s instructions (TIs), reinstated TI 104C Annual Reporting 2020-21 Exemption, and deleted five TIs.
TI 104C has been reinstated to reduce agencies’ reporting compliance burden in the preparation of 2020-21 annual reports.
This update also includes amendments to the Accounting Policy Guideline APG 1 Accounting for Contaminated Sites and APG 3 Provisions – Discount Rates and Other Factors; the Opportunity Cost of Capital; and the Model Annual Reports for Tier 1 and Tier 2 agencies.
The updated FAB gives effect to amendments to:
- The Model Annual Report (Tier 1 and Tier 2 agency) for the reporting period ended 30 June 2021;
- Treasurer’s instruction 102 Interpretation;
- Treasurer’s instruction 103 Treasurer’s Instructions;
- Treasurer’s instruction 104 Exemptions;
- Treasurer’s instruction 108 Operative Dates;
- Treasurer’s instruction 323 Timely Payment of Accounts;
- Treasurer’s instruction 802 Special Purpose Statements and Trust Statements;
- Treasurer’s instruction 805 Operating Accounts for Departments and Sub-Departments;
- Treasurer’s instruction 806 Specific Purpose and Other Money (Money Held in Trust);
- Treasurer’s instruction 810 Tariffs, Fees and Charges;
- Treasurer’s instruction 811 Register of Security Documents;
- Treasurer’s instruction 812 Insurance;
- Treasurer’s instruction 825 Risk Management;
- Treasurer’s instruction 945 Explanatory Statement;
- Treasurer’s instruction 952 General Information in Financial Statements;
- Treasurer’s instruction 954 Revaluation of Non-current Physical Assets;
- Treasurer’s instruction 955 Contributions by Owners Made to Wholly-Owned Public Sector Entities;
- Treasurer’s instruction 1101 Application of Australian Accounting Standards and Other Pronouncements;
- Treasurer’s instruction 1102 Statements of Comprehensive Income;
- Treasurer’s instruction 1103 Statements of Financial Position;
- Treasurer’s instruction 1201 Internal Audit;
- Accounting Policy Guideline APG 1 Accounting for Contaminated Sites;
- Accounting Policy Guideline APG 3 Provisions – Discount Rates and Other Factors;
- Opportunity Cost of Capital;
and also include newly issued:
- Treasurer’s instruction 104C Annual Reporting 2020-21 Exemption;
and deletion of:
- Treasurer’s instruction 101 Commencement;
- Treasurer’s instruction 105 Duties of Officers;
- Treasurer’s instruction 801 Accounting for Public Money, Statutory Authority Money and Other Money (Money Held in Trust);
- Treasurer’s instruction 803 Shortages and Surpluses of Money; and
- Treasurer’s instruction 820 Register of Contracts.
More information on the changes is provided in the section ‘NEW IN THIS RELEASE – UPDATE NO. 88’.
Accountable authorities and chief finance officers should ensure employees are aware of requirements in the new and amended Treasurer’s instructions.
