Document ID: chunk:federal_register_of_legislation:F2024L00670:reg:10
Version: federal_register_of_legislation:F2024L00670
Segment Type: reg
Provision Reference: reg 10
Character Range: 17235–19058

10  Own source expenditure conditions
       (1)    For each financial year in which a funding recipient receives, spends or retains Roads to Recovery payments, the funding recipient must report the amount of own source funds spent on the construction and/or maintenance of roads (the own source expenditure).
       Note:  The term 'own source funds' is defined in section 4 of this Determination.
              Interest earned on funds deposited in respect of a Roads to Recovery payment as referred in subsection 9(3) is included in own source funds.
              Own source expenditure is to be reported in the annual report referred in paragraph 11(1)(b).
       (2)    The amount of own source funds spent must be equal to or greater than an amount communicated by notice in writing from the Department to each funding recipient on or before 1 July 2024 and applicable throughout the Roads to Recovery funding period (the reference amount).
       (3)    A funding recipient is taken to have met the own source expenditure conditions in a particular financial year if:
            (a)    the reported own source expenditure for that financial year equals or exceeds the reference amount;
            (b)    the average of own source expenditure reported for that financial year and the financial year immediately prior to that year equals or exceeds the reference amount; or
            (c)    the average of own source expenditure reported for that financial year and the two prior financial years equals or exceeds the reference amount.
              Note: Under section 91 of the Act, the Minister (or delegate) may, by notice in writing, exempt a funding recipient from a condition that applies to own source expenditure, and, if considered appropriate, impose a replacement condition on the funding recipient.