Annual Financial Reporting

Final Budget Outcome and Consolidated Financial Statements

The Charter of Budget Honesty Act 1998 [External Site] section 18(1) requires that the Final Budget Outcome (FBO) be published within three months of the end of the financial year (ie 30 September). Given the Commonwealth's move to an accrual budgeting and reporting framework in 1999-2000, FBO reports now incorporate audit cleared accrual based revenue and expenses, balance sheet and cash flow information. Such information is obtained from the annual process of compilation of the Consolidated Financial Statements (CFS) under Section 55 of the Financial Management and Accountability Act 1997.

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Contact for information on this page: Financial Reporting and Accounting Policy Contacts