Document ID: chunk:federal_register_of_legislation:F2022C01123:reg:27:p12
Version: federal_register_of_legislation:F2022C01123
Segment Type: reg
Provision Reference: reg 27 (pt 12/15)
Character Range: 71531–74407

to annual and special appropriations
  Where an entity ('the spending entity') has paid money out of the CRF on behalf of another entity ('the responsible entity'):
       (a) the spending entity must disclose the following for each responsible entity:
           (i) the name of the responsible entity;
           (ii) total receipts and total payments (include annual departmental and administered items, as well as special appropriations); and
           (iii) the relationship between itself and the responsible entity; and
       (b) the responsible entity must:
           (i) apply the reporting requirements outlined in this rule; and
           (ii) disclose the name of the spending entity as a footnote to the relevant appropriations note tables.
  Division 6 -  Special accounts

Guide to this Division

The purpose of this Division is to set out the reporting and disclosure requirements for special accounts.

A special account is an appropriation mechanism that notionally sets aside an amount within the CRF to be expended for specific purposes. The type of appropriation provided by a special account is a special appropriation. The appropriation mechanism remains available until the special account is repealed. The amount of money that may be spent from the CRF, via a special account, is limited to the balance of that special account.

  48 Special accounts
  (1) The special accounts note must be prepared on a recoverable GST exclusive basis and a cash basis.
  (2) Reporting entities must disclose information on special accounts that existed in either the current year or comparative year regardless of whether they have been repealed or whether the relevant amounts are considered to be immaterial (appropriations are material by nature).
  (3) If the status of a special account has changed during the reporting period (e.g., the account has been established, varied or repealed), the nature and date of effect of each change must be disclosed as a footnote.
  (5) Entities must disclose the opening balance, increases, decreases (classified as either departmental or administered) and the closing balance for each special account.
  (6) If an amount standing to the credit of a special account is held by a reporting entity, the amount must be disclosed in the entity's financial statement as cash.
  (7) If an amount standing to the credit of a special account is held in the OPA, the amount must be disclosed in a reporting entity's financial statement as cash held in the OPA.
   (8) If a reporting entity holds part of the closing balance of a special account on trust, the reporting entity must:
   (a) disclose the amount so held as a footnote to the special accounts notes; and
   (b) not include that amount in the entity's statement of financial position; and
       (c) not include that amount in any statements or notes required by AASB