Compliance Stream C & D (C000373) – Defence QLD Budget Cycle and Process

Lesson
Materials

The Budget is the government’s annual statement of income and expenditure and the Budget process allows the Executive government to determine priorities for policy and expenditure. It is a collection of financial documents which detail:

  • The government’s assessment of the national economy;
  • The government’s priorities and policies for the coming year;
  • How the government intends to raise money;
  • How much money is expected to be raised;
  • How the government intends to spend this money; and
  • The specific allocation of funds to departments and programs.

This setting of priorities usually occurs between September and May, when the budget is presented to the Parliament by the Treasurer and the department of Treasury for scrutiny by Senators and Members.  The Treasurer works with the other Cabinet members to develop the spending policies, priorities and amounts for each department.

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