❓ The Leader of the Opposition questions the criteria and oversight of special purpose accounts (SPAs) under the McGowan Labor government. The Treasurer's response outlines the legislative and administrative basis for SPAs and the Treasurer's discretionary approval.
AnsweredQoN 1033Legislative Council
QuestionView source ↗
FINANCIAL MANAGEMENT ACT — SPECIAL PURPOSE
ACCOUNTS
1033. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to the
proliferation of special purpose accounts under the McGowan Labor government.
(1) What criteria
are applicable to the legitimate creation of a special purpose account?
(2) Who has
oversight in determining the criteria?
(3) Are the
criteria reviewable; and, if so, who reviews the criteria?
(4) Will the minister table the criteria that apply to
the creation of special purpose accounts; and, if not, why not?
ACCOUNTS
1033. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to the
proliferation of special purpose accounts under the McGowan Labor government.
(1) What criteria
are applicable to the legitimate creation of a special purpose account?
(2) Who has
oversight in determining the criteria?
(3) Are the
criteria reviewable; and, if so, who reviews the criteria?
(4) Will the minister table the criteria that apply to
the creation of special purpose accounts; and, if not, why not?
AnswerView source ↗
I thank the Leader of the Opposition
again for some notice of the question. The following answer is provided on
behalf of the Treasurer.
(1) Special
purpose accounts—SPAs—are established under sections 10 and 16
of the Financial Management Act 2006. SPAs are established when the government determines
that an SPA shall be created. That may be due to a legislated requirement for
an account—for example, the royalties for regions fund—or an
operational need for a new account; for example, an agency operating account.
(2) Approval is
at the discretion of the Treasurer.
(3) Accounts established by legislation are governed by
the relevant provisions of the statute, while accounts that are
administratively established are governed by a special purpose statement that
outlines its purpose. All such accounts are subject to the requirements of
section 10 or 16 of the FMA and Treasurer's instruction 802 — Special purpose statements and trust statements .
(4) See (1).
again for some notice of the question. The following answer is provided on
behalf of the Treasurer.
(1) Special
purpose accounts—SPAs—are established under sections 10 and 16
of the Financial Management Act 2006. SPAs are established when the government determines
that an SPA shall be created. That may be due to a legislated requirement for
an account—for example, the royalties for regions fund—or an
operational need for a new account; for example, an agency operating account.
(2) Approval is
at the discretion of the Treasurer.
(3) Accounts established by legislation are governed by
the relevant provisions of the statute, while accounts that are
administratively established are governed by a special purpose statement that
outlines its purpose. All such accounts are subject to the requirements of
section 10 or 16 of the FMA and Treasurer's instruction 802 — Special purpose statements and trust statements .
(4) See (1).
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