Australian Capital Territory
Financial Management (Budget Financial Statements) Guidelines 2005
Disallowable instrument DI2005–271
made under the
Financial Management Act 1996, s107 (Guideline-making power)
EXPLANATORY STATEMENT

Outline
These guidelines are issued in accordance with section 107 of the Financial Management Act 1996 (the Act) and are one of a set of guidelines that replace provisions previously made through:
•	Financial Management Guidelines 2002;
•	Financial Management Amendment Guidelines 2003 (No 1);
•	Financial Management Amendment Guidelines 2004 (No 1);
•	Financial Management Amendment Guidelines 2004 (No 2);
•	Financial Management Amendment Guidelines 2004 (No 3);
•	Financial Management Amendment Guidelines 2004 (No 4); and
•	Financial Management Amendment Guidelines 2005 (No 1).
The reissued set of financial management guidelines aims to be more accessible and easier to maintain, by grouping similar provisions with common amendment patterns into separate financial management guidelines.  
This instrument, Financial Management (Budget Financial Statements) Guidelines 2005, prescribes the financial statements required for budget papers, replacing largely unchanged the corresponding provisions in sections 6 to 8 and 12 in Part 2 of the Financial Management Guidelines 2002 as amended by the Financial Management Amendment Guidelines 2005 (No 1).  Minor changes have been made to the provisions of clause 5 of this instrument to adopt recent amendments to the Act itself, through the Financial Management Legislation Amendment Act 2005. 
Details of the Financial Management (Budget Financial Statements) Guidelines 2005.
Formal Clauses
Clauses 1 and 2 are formal requirements.  They refer to the name and the commencement date of the Guidelines.
Prescribed Financial Statements 
This guideline ensures that the financial statements required under the Act are consistent with the current accounting standards.  The financial statement required for budget papers are:
a)	Operating Statement;
b)	Balance Sheet (beginning and end of year);
c)	Statement of Changes in Equity; and
d)	Cash Flow Statement.
Clause 3 prescribes the financial statements required for the proposed budget for the Territory under section 11 (1) (e) of the Act.
Clause 4 prescribes the financial statements required for the proposed budget for a department under section 12 (1) (a) of the Act.
Clause 5 prescribes the financial statements required for the proposed budget for Territory authorities and Territory-owned corporations under section 12A (1) (a) of the Act.
Clause 6 prescribes the financial statements required for Territory authorities’ statement of intent under section 61 (5) (a) of the Act.  
End