Assessor Resource

PUAMAN007B
Manage financial resources

Assessment tool

Version 1.0
Issue Date: May 2024


This unit applies to any workers with authority for a budget within a public safety organisation.

This unit covers the competency to manage financial resources to achieve organisation and operational objectives.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)

Prerequisites

PUAFIR505B Administer cost centre's financial resources (Fire sector specific)

Employability Skills

This unit contains employability skills.



Evidence Required

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.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

It is essential for this unit that competence be demonstrated in application of financial resource management in a wide range of contexts in achieving the organisation's financial objectives.

Consistency in performance

Evidence should be gathered over a period of time in a range of actual or simulated workplace environments.

Context of and specific resources for assessment

Context of assessment

Evidence of competent performance by observing an individual in a financial management role within the workplace or exercise or operational environment Knowledge may be assessed through:

written assignments

projects reports

debriefings and action learning projects

Specific resources for assessment

No special requirements.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

This describes the essential skills and knowledge and their level, required for this unit.

Required Skills

cost-benefit analysis

interpret financial reports

monitor financial accounts

prepare budgets

prioritise financial resource allocation

produce financial reports

utilise management information systems

Required Knowledge

accounting principles

accrual and cash management procedures

computer-based tools to produce financial reports

costing policies and procedures

financial management principles

legislative and organisation's procedures for budget development and financial management

management information systems

organisation's financial accountability requirements

The Range Statement relates to the Unit of Competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the Performance Criteria is detailed below.

Budget formats may include:

zero based budgeting

program budgeting

line item budgeting

Operating budget may include:

staffing costs

capital expenditure/income

recurrent expenditure/income

forward estimates

cash flow

Policy may include:

supply

procurement

expenditure

audit

reporting and recording policies

Financial reports may include:

annual reports

program financial statements

accrual reports

monthly/quarterly financial reports

Management information systems may include:

computers

communication channels

records management data

procedures

protocol

legislation

guidelines and awards

organisation

legal and policy materials

client information

market trends

registries and file records

library

financial records

basic statistical information

personnel records

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Budgets are developed in the required format and consistent with organisation's guidelines and procedures. 
Cost elements are identified and quantified to eliminate/reduce wastage. 
Cost-benefit analyses are prepared for major cost items in accordance with the organisation's policy and procedures. 
Sub-budgets prepared by other staff are coordinated in order that desired objectives are achieved. 
Implications of major shifts in proposed or actual budget expenditures are analysed, determined and taken into account. 
Performance indicators are developed and agreement reached based on the budget. 
Financial resources are allocated as agreed to in the operational plan and the budget negotiation process (as appropriate). 
Expenditure management meets the financial accountability requirements of the organisation. 
Expenditure is kept within budget or any potential over-runs identified and budget renegotiated accordingly. 
Expenditure is authorised within financial authority limits established by the organisation. 
Supply and expenditure processes are in accordance with corporate governance and organisational protocols. 
Financial reports are produced when and in a format required by the organisation. 
Sub-budgets are continuously monitored to ensure appropriate controls and authorisations are observed. 
Finance allocation is continually monitored against organisational objectives and priorities ensuring optimum service delivery. 
Re-allocation of resources is undertaken taking account of needs and priorities. 
Management information systems are used for planning, implementing and monitoring the financial resources usage. 
Management information system reports are produced, verified and interpreted. 

Forms

Assessment Cover Sheet

PUAMAN007B - Manage financial resources
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

PUAMAN007B - Manage financial resources

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: