List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
ELEMENTS | PERFORMANCE CRITERIA |
Elements describe the essential outcomes | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section. |
1. Contribute to financial bids and estimates | 1.1 Identify organisational initiatives requiring the preparation of bids and estimates in accordance with resource constraints and organisational needs. 1.2 Substantiate information for bids and/or estimates, ensuring it contains logical assumptions and takes account of strategic plans, government policies and priorities. 1.3 Prepare information for bids and/or estimates including a timeframe to meet critical submission dates. 1.4 Prepare documentation to support bids and/or estimates in accordance with budget guidelines. |
2. Allocate funds | 2.1 Approve budgets and allocate financial resources. 2.2 Make allocations and take account of any statutory requirements or constraints. 2.3 Maintain audit trails to ensure tracking and to identify variances between agreed and actual allocations. 2.4 Monitor financial allocation against organisational objectives and priorities and take corrective action as required. |
3. Manage budgets | 3.1 Undertake budget management that meets the financial accountability requirements of the organisation. 3.2 Monitor expenses against budget and authorise in accordance with financial delegation and organisational financial controls. 3.3 Obtain and provide financial reports. 3.4 Monitor expenses through analysis of financial information and resolve or refer problems in accordance with financial delegation. 3.5 Align expenditure with service delivery expectations. 3.6 Negotiate changes to the budget to account for potential under-spending, delays in service delivery, overruns and unneeded line items. |
4. Report on financial activities | 4.1 Identify requirements for financial management and reporting in accordance with the public sector financial management framework. 4.2 Undertake financial management and reporting. |
Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least one occasion.
preparing information and reports requiring precision of expression
meeting formatting and process requirements for bids and estimates and linkages to strategic plans
monitoring financial information
interpreting and signing off on financial reports
interpreting organisational information in financial terms
adjusting communication to suit different audiences
using crosscultural communication relating to financial management – across professional cultures, including accounting, IT, arts, policy areas
accessing information and legislation electronically or in hard copy
Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.
financial management principles
legislation, policies and processes relating to public sector financial management, including conflicts of interest, procurement, value for money
the organisation’s financial accountability mechanisms
corporate governance requirements
internal controls and why they are used
delegations and why the public sector uses them
public sector financial management framework and the relationship between the elements of the framework
documents that make up the financial management framework
legislation related to working in the public sector, including equal employment opportunity, environmental, sustainability and work health and safety requirements
This unit contains no specific industry-mandated assessment conditions. Guidance on suggested and recommended conditions and methods can be found in the Implementation Guide.
Assessors must satisfy the NVR/AQTF mandatory competency requirements for assessors.