Public Governance, Performance and Accountability (Financial Reporting) Rule 2015
8Departmental and administered: classification and reporting
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8 Departmental and administered: classification and reporting
Guide to this section
The purpose of this section is to state that this rule applies to both departmental and administered reporting.
(1) This rule applies to both departmental and administered reporting unless otherwise specified. (2) Reporting entities must distinguish between ‘departmental’ and ‘administered’ in the financial statements for all disclosures outlined in this rule. (3) The financial statements of reporting entities must present items as ‘departmental’ and ‘administered’ in accordance with Cabinet decisions on their classification. (4) Changes must not be made to the classification of existing items without the approval of Cabinet or the Finance Minister. (5) Reclassification of an existing item is not a change in accounting policy. (6) Unless directed by legislation, Cabinet or the Finance Minister, corporate Commonwealth entities must not recognise monies collected on behalf of the Commonwealth as an administered revenue or asset. The relevant non‑corporate Commonwealth entity will make the appropriate disclosures.
Note: Corporate Commonwealth entities are legally separate from the Commonwealth whereas non‑corporate Commonwealth entities are part of the Commonwealth.