CTHIn ForceLegislation
Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
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Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
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Turn the raw legal text into a practical explanation grounded in Public Governance, Performance and Accountability (Financial Reporting) Rule 2015.
Guide to this section
The purpose of this section is to set out the reporting requirements for regulatory charging activities. Regulatory charging activities are those activities where the government has agreed that a regulatory function is to be charged for on a full or partial cost recovery basis. The note provides industry, the Parliament and the public with assurance that these activities are being managed in a way that aligns expenses and revenues over time.
(1) Where a reporting entity undertakes a regulatory charging activity (consistent with the Australian Government Charging Framework), the financial statements of the entity must include a note providing financial information for those regulatory activities at an aggregate level. (2) The note must include: (aa) a list of the regulatory charging activities; (a) appropriations drawn down and applied to the regulatory activities; (b) external revenue raised for the regulatory activities; and (c) expenses related to the regulatory activities.