Financial Administration Bookcase – Update No. 88

News story
Treasury has released the latest update (No. 88) of the Financial Administration Bookcase.
Financial Administration Bookcase

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.  
 

Page reviewed 24 June 2021