Commonwealth legislation

Financial Management and Accountability Act 1997 - Determination 1998/9 - Determination to Establish Component of the Reserved Money Fund (09/11/1998)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This determination creates a special reserve account within the government's Reserved Money Fund called the Commonwealth/State Disability Agreement Reserve.

Who it affects: Primarily the Department of Family and Community Services.

What it does:

Establishes a separate 'bucket' of money for specific disability-related projects
Allows two types of money to be deposited:
- Trust money: Funds held by the government for the benefit of someone else (where the Commonwealth is essentially the banker)
- Dedicated payments: Money specifically given to the government to spend on these disability projects
Restricts spending to research and development projects under agreements between the Australian Government (the Commonwealth) and State/Territory governments regarding disability services

Why it matters: This separation ensures that money earmarked for disability R&D under federal-state agreements is quarantined from general government spending and used only for its intended purpose, making financial tracking clearer and ensuring compliance with funding conditions.

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Current sections

Direct links to the current provisions in Financial Management and Accountability Act 1997 - Determination 1998/9 - Determination to Establish Component of the Reserved Money Fund (09/11/1998).

Financial Management and Accountability Act 1997 - Determination 1998/9 - Determination to Establish Component of the Reserved Money Fund (09/11/1998)

DETERMINATION 1998/9

SECTION 20 OF THE FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

DETERMINATION TO ESTABLISH COMPONENT OF THE RESERVED MONEY FUND

I, Graham Millar, Branch Manager, Financial Framework, pursuant to powers delegated to me by the Finance Chief Executive under section 53 of the Financial Management

and Accountability Act 1997, determine, for the purposes of section 20 of that Act, that the Department of Family and Community Services – Commonwealth/State Disability Agreement Reserve is established as a component of the Reserved Money Fund.

I further determine that:

(a) amounts of the following kinds may be transferred from the Consolidated Revenue Fund to this component:

money that is held in trust for, or otherwise for the benefit of, a person other than the Commonwealth;
all money paid to the Commonwealth by any person for the expenditure purposes of the component; and,

(b) the purposes for which amounts may be debited to the component are:

for expenditure on projects which relate to the Commonwealth/State Disability research and development agenda.

Graham Millar

Delegate of the Finance Chief Executive

9 November 1998

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Financial Management and Accountability Act 1997 - Determination 1998/9 - Determination to Establish Component of the Reserved Money Fund (09/11/1998)