sec.20Liability management

sec.20 Liability management

A department’s accountable officer or a statutory body must manage the liabilities of the department or statutory body in accordance with the liability management system established for the department or statutory body under section 11 (1) (e) . Without limiting section 11 , the liability management system must provide for— the identification, incurring, measurement, management, satisfaction and recording of liabilities; and the prompt identification, monitoring, recording and reporting of commitments for capital expenditure. In managing the liabilities, the accountable officer or statutory body must comply with the document called ‘Queensland leasing approval policy for public sector entities’ published by the treasury department. A copy of the document is available on the treasury department’s website. (sec.20-ssec.1) A department’s accountable officer or a statutory body must manage the liabilities of the department or statutory body in accordance with the liability management system established for the department or statutory body under section 11 (1) (e) . (sec.20-ssec.2) Without limiting section 11 , the liability management system must provide for— the identification, incurring, measurement, management, satisfaction and recording of liabilities; and the prompt identification, monitoring, recording and reporting of commitments for capital expenditure. (sec.20-ssec.3) In managing the liabilities, the accountable officer or statutory body must comply with the document called ‘Queensland leasing approval policy for public sector entities’ published by the treasury department. A copy of the document is available on the treasury department’s website.

• (a) the identification, incurring, measurement, management, satisfaction and recording of liabilities; and
• (b) the prompt identification, monitoring, recording and reporting of commitments for capital expenditure.