Department-wide
To ensure the consistent and prompt approval, identification, assessment, review and recording of expenditure across the department.
Expenditure is money or other resources that the department uses for goods and services. Goods and services are purchased for authorised and permitted purposes only and can be both of an operational and capital nature.
The department recognises, manages and reports expenditure in accordance with legislation, Australian Accounting Standards and Queensland Government policy.
Internal controls manage risk associated with expenditure, including minimising the likelihood of fraud and misappropriation.
Principle
What this means for the department
Accountability
The department recognises and reports expenditure promptly and accurately and in accordance with Australian Accounting Standards.
The department effectively manages risks associated with expenditure through preventive and detective controls.
The department will apply the provisions of the Financial Accountability Handbook, in particular, Information Sheet 3.6 – Expense Management Systems (excluding HR), to identify, assess, record and manage expenses and payables.
Effectiveness
Expenditure is approved by an authorised delegate to ensure funds are expended in accordance with departmental objectives and controls.
Performance
The department manages expenditure to maximise value for money.
Sustainability
The department proactively manages its current and future financial position.
Term
Definition
Capital expenditure
Expenditure incurred in acquiring, or building fixed assets such as land and buildings.
Expenses
Costs incurred by the department in carrying out its functions through the consumption of goods or services.
Operational expenses
Expenses incurred in the ongoing business of the department. For example, salary and wages.
Australian Accounting Standards
Financial reporting standards applicable to entities in the private and public sectors in Australia.
Australian Accounting Standards, in particular:
Previous seven years shown. Minor version updates not included.
1.0 Expenditure
For further information, please contact:Finance Branch through the Services Catalogue Online (DoE employees only). Customers and users external to the department should email financialpolicy.finance@qed.qld.gov.au.
Uncontrolled copy. Refer to the Department of Education Policy and Procedure Register to ensure you have the most current version of this document.
How would you rate this page?
Thank you! We appreciate your feedback.
Share with Facebook
Share with Twitter
Share with LinkedIn
Share with Google+
Share with Pinterest