This Circular advises General Government agencies and Government businesses that they are required to comply with the Recurrent Expenditure Assurance Framework (TPP19-03 with effect from the date of the circular.
Function and Subject
- Financial Management and Accounting (1)
- Financial Management Framework
This Circular advises the sector that the Recurrent Expenditure Assurance Framework TPP19-03 (REAF) is now operational.
Agencies whose recurrent investment proposals meet the thresholds set out in the framework are responsible to register and self-assess the project risk profile using the Project Registration and Risk Assessment Tool available on the Treasury website.
The Risk Tier and appropriate assurance plan will be reviewed and endorsed by the Major Recurrent Advisory Group, (consisting of senior executives from across the sector). Treasury will then coordinate with agencies to arrange Gateway Reviews and Health Checks as required.
These processes are similar to those being followed for capital and ICT investments.
Treasury will be working with agencies to implement the REAF, including agreeing transitional arrangements on a case by case basis.
The REAF is applicable to general Government Agencies and Government businesses. The REAF is only applicable to State Owned Corporations to the extent set out in the Commercial Policy Framework, specifically the revised Major Projects Policy (on which SOCs have recently been consulted).
Who needs to know and/or comply with this?
- Executive agencies related to Departments
- Separate agencies
- State Owned Corporations
- Statutory Authorities/Bodies
- Date Issued
- Jan 31, 2019
- Review Date
- Jan 31, 2024
- Replaced By
- (02) 9228 4207
- Publishing Entity
- The Treasury
- Issuing Entity
- The Treasury