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The Department of the Treasury's budget statements are prepared in compliance with Australian Accounting Standards, Accounting Guidance Releases and having regard to Statements of Accounting Concepts.
Under the Commonwealth's accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (departmental transactions) are separately budgeted for and reported on from transactions agencies do not have control over (administered transactions). This ensures that agencies are only held accountable for the transactions over which they have control.
Departmental
Departmental assets, liabilities, revenues and expenses in relation to an agency are those which are controlled by the agency. Departmental expenses include employee and supplier expenses and other administrative costs that are incurred by the agency in providing its goods and services.
There are no substantial variations to the notes outlined in the 2001-02 Portfolio Budget Statements and The Treasury Annual Report 2000-01.
Administered
Administered items are revenues, expenses, assets or liabilities which are managed by an agency on behalf of the Government according to set Government directions. Administered expenses include subsidies, grants, and personal benefit payments and administered revenues include taxes, fees, fines and excises.
There are no substantial variations to the notes outlined in the 2001-02 Portfolio Budget Statements and The Treasury Annual Report 2000-01.
Appendix 1
Non-appropriation departmental and administered revenue
Appendix 2
Estimates of expenses from special appropriations
