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Budget development and management policy

Version number 1.1 | Version effective 20 December 2019
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Budget development and management policy

Audience

Department-wide

Purpose

To outline the Department of Education’s (the department’s) approach to planning and managing resources efficiently and effectively.

Policy statement

The department’s budget supports the delivery of outcomes identified in the Strategic Plan and aligns with the Long-Term Financial Plan.

Principles

Principle

What this means for the department

Accountability

All departmental budgets are developed and managed in accordance with Queensland Treasury guidelines. Budgets are reported to Parliament through the State Budget Papers and reviewed through a series of parliamentary estimates hearings, which comprise government and opposition members.

Equity

The department ensures funding is managed efficiently and effectively to meet government and departmental priorities.

Performance

The department’s budget is monitored through monthly financial performance reporting to ensure issues are appropriately managed.

Sustainability

The department prioritises and manages its budget in line with funding provided by government.

Flexibility

The Executive Management Board may make decisions that require variations to budgets throughout the financial year.

Requirements

  • Budgets are only developed for authorised and permitted purposes.
  • Budgets are reported, disclosed and recognised in the State Budget Papers.
  • Budgets must be identified and recorded accurately in the department’s accounting systems, in a manner, which maintains an adequate audit trail and allows reporting objectives and accountability requirements to be satisfied.
  • Budgets should be developed and monitored to ensure the department is managing its operations efficiently, effectively and economically and resourcing is aligned to strategic priorities.
  • Business units must notify the department’s Chief Finance Officer when surplus budget is identified.

Definitions

Term

Definition

Strategic Plan

The Strategic Plan outlines the department’s vision for Queensland children and students, workplaces and communities and its people.

Long-Term Financial Plan

The Long-Term Financial Plan describes the department’s framework for delivering cost effective services, maximising value and planning for future resource allocation.

State Budget Papers

The State Budget Papers provide published budgeted financial and non-financial information for the Budget year.

  • Departmental budgets are published in Budget Paper 5 – Service Delivery Statements.
  • Departmental capital expenditure is outlined in Budget Paper 3 – Capital Statement.
  • Departmental expense, capital and revenue measures reflecting decisions since the previous budget are outlined in Budget Paper 4 – Budget Measures.

Parliamentary estimates hearings

Comprised of government and non-government members, the parliamentary estimates hearings inform the general parliamentary debate on budgets. These hearings ensure accountability and transparency of the overall budget process.

Legislation

Delegations/Authorisations

  • The Executive Management Board (EMB) are responsible for the approval, allocation and monitoring of the department’s annual corporate operating and capital budgets.
  • School principals are responsible for the approval, allocation and monitoring of school budgets.

Other resources

School budgeting

Superseded versions

Previous seven years shown. Minor version updates not included.

1.0 Budget development and management

Review date

26 July 2024
Attribution CC BY

Keywords

Policies and procedures in this group

Budget development and management policy (current page)
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