- PSPMNGT610A - Manage public sector financial resources
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
PSPMNGT610A Mapping and Delivery Guide
Manage public sector financial resources
Version 1.0
Issue Date: April 2024
| Qualification | - |
Unit of Competency | PSPMNGT610A - Manage public sector financial resources |
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| Description | This unit covers input into public sector budgeting, financial forecasting and reporting requirements, and the allocation and management of resources to achieve the required outputs of the business unit. It includes contributing to financial bids and estimates, allocating funds, managing budgets and reporting on financial activity.In practice, the management of public sector financial resources may occur in the context of other generalist or specialist public sector workplace activities such as managing compliance with legislation, maintaining and enhancing ethical practice, managing people, policy etc.This unit is one of 6 units of competency in the Working in Government and Management Competency fields that deal with resources.Related units are:PSPGOV204B Access and use resourcesPSPGOV305B Access and use resources and financial systemsPSPGOV403B Use resources to achieve work unit goalsPSPGOV503B Coordinate resource allocation and usageNo licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication | ||
| Employability Skills | This unit contains employability skills. | ||
| Learning Outcomes and Application | Not applicable. | ||
| Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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| Prerequisites/co-requisites | Not applicable. | ||
| Competency Field | Management. | ||
| Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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| Elements of Competency | Performance Criteria | |||||||
| Element: Contribute to financial bids and estimates |
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| Element: Allocate funds |
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| Element: Manage budgets |
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| Element: Report on financial activities |
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| Element: Contribute to financial bids and estimates |
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| Element: Allocate funds |
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| Element: Manage budgets |
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| Element: Report on financial activities |
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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.
The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package. | |
Units to be assessed together | Pre-requisite units that must be achieved prior to this unit:Nil Co-requisite units that must be assessed with this unit:Nil Co-assessed units that may be assessed with this unit to increase the efficiency and realism of the assessment process include, but are not limited to: PSPETHC601B Maintain and enhance confidence in public service PSPLEGN601B Manage compliance with legislation in the public sector PSPMNGT603B Facilitate people management PSPMNGT602B Manage resources PSPMNGT608B Manage risk PSPMNGT609B Formulate business strategies PSPPOL603A Manage policy implementation |
Overview of evidence requirements | In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms: the knowledge requirements of this unit the skill requirements of this unit application of the Employability Skills as they relate to this unit (see Employability Summaries in Qualifications Framework) management of public sector financial resources in a range of (2 or more) contexts (or occasions, over time) |
Resources required to carry out assessment | These resources include: public sector and organisational financial procedures and protocols workplace scenarios and case studies to capture the range of situations likely to be encountered when managing public sector financial resources financial legislation and guidelines such as central agency guidelines budget process and guidelines |
Where and how to assess evidence | Valid assessment of this unit requires: a workplace environment or one that closely resembles normal work practice and replicates the range of conditions likely to be encountered when managing public sector financial resources, including coping with difficulties, irregularities and breakdowns in routine management of public sector financial resources in a range of (2 or more) contexts (or occasions, over time) Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as: people with disabilities people from culturally and linguistically diverse backgrounds Aboriginal and Torres Strait Islander people women young people older people people in rural and remote locations Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of: case studies portfolios projects questioning scenarios authenticated evidence from the workplace and/or training courses |
For consistency of assessment | Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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 section describes the essential skills and knowledge and their level, required for this unit. |
Skill requirements Look for evidence that confirms skills in: 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 cross-cultural communication relating to financial management - across professional cultures such as accounting, IT, arts, policy areas responding to diversity, including gender and disability accessing information and legislation electronically or in hard copy applying environmental, sustainability and occupational health and safety procedures relating to working in the public sector |
Knowledge requirements Look for evidence that confirms knowledge and understanding of: financial management principles legislation, policies and processes relating to public sector financial management, such as 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 (detailed knowledge) 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 such as equal employment opportunity, environmental, sustainability and occupational health and safety requirements |
The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here. | |
Bids may include: | program discretionary bids program, sub-program, section, business unit bids portfolio managed bids |
Estimates may include: | budget estimates additional estimates forward estimates long-term estimates forecasts |
Information may include: | historical information cost-benefit analysis staff requirements contractual information efficiency/sustainability requirements |
Budgetary requirements may include: | zero-based budgeting accrual budgeting activity-based costing/management output-based budgeting top-down/bottom-up approach base plus increment |
Supporting documentation may include: | phasing for liability and expenditure/cash flow implications impact statements reasons for major variations to financial guidance staffing resources |
Budgets may include: | capital expenses recurrent expenses staffing costs cash flow forward estimates |
Corrective action may include: | re-prioritising activities funds transfer re-phasing liability/expenditure |
Delegations are: | functions or powers (under an act) assigned to others limited to specified powers or amounts made to persons in specified positions |
Financial controls should: | identify, record and measure revenue, expenses, assets, liabilities and equity ensure assets are safeguarded and used to avoid waste, extravagance, loss and misuse ensure liabilities are not incurred without proper authority ensure correct valuation, cut-off, presentation and disclosure of financial balances and transactions be linked to the organisation's risk management strategy |
Financial reports may include: | program, sub-program, section, business unit financial reports accrual reports monthly/quarterly financial reports including cost/unit, costs incurred compared with share of program delivered annual reports |
Elements of the public sector financial management framework may include: | internal controls segregation of duties delegations corporate governance requirements service level agreements internal and external reporting risk management |
Public sector financial policies and procedures may include: | financial management acts and regulations financial administration and audit acts Treasury guidelines public sector finance standards financial management benchmarking studies the organisation's: financial management practice manual delegation manual budget manual/instructions style manual quality manual government financial policy statements |
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 |
|---|---|---|---|
| Organisational initiatives requiring the preparation of bids and estimates are identified in accordance with resource constraint s and organisational needs | |||
| Information for bids/estimates is substantiated, contains logical assumptions and takes account of strategic plans, government policies and priorities | |||
| Information for bids/estimates is prepared in accordance with government budgetary requirements including a timeframe to meet critical submission dates | |||
| Documentation to support bids/estimates is prepared in accordance with budget guidelines | |||
| Budgets are approved and financial resources are allocated according to organisational priorities/business plan | |||
| Allocations are made in accordance with organisational policy and procedures and take account of any statutory requirements or constraints | |||
| Audit trails are maintained to ensure accurate tracking and to identify variances between agreed and actual allocations | |||
| Financial allocation is monitored against organisational objectives and priorities and corrective action is taken as required in accordance with organisational policy and procedures | |||
| Budget management is undertaken that meets the financial accountability requirements of the organisation | |||
| Expenses are monitored against budget and authorised in accordance with financial delegation and organisational financial controls | |||
| Financial reports are obtained and provided in accordance with organisational requirements | |||
| Expenses are monitored through analysis of financial information/reports and problems are resolved or referred in accordance with organisational procedures and financial delegation | |||
| Expenditure is aligned with service delivery milestones/expectations | |||
| Changes to the budget are negotiated to account for potential under-spending, delays in service/program delivery, overruns and unneeded line items in accordance with organisational policy and procedures | |||
| Requirements for financial management and reporting are identified in accordance with the public sector financial management framework | |||
| Financial management and reporting are undertaken in accordance with organisational requirements and public sector financial management policy and procedures | |||
| Organisational initiatives requiring the preparation of bids and estimates are identified in accordance with resource constraint s and organisational needs. | |||
| Information for bids/estimates is substantiated, contains logical assumptions and takes account of strategic plans, government policies and priorities. | |||
| Information for bids/estimates is prepared in accordance with government budgetary requirements including a timeframe to meet critical submission dates. | |||
| Documentation to support bids/estimates is prepared in accordance with budget guidelines. | |||
| Budgets are approved and financial resources are allocated according to organisational priorities/business plan. | |||
| Allocations are made in accordance with organisational policy and procedures and take account of any statutory requirements or constraints. | |||
| Audit trails are maintained to ensure accurate tracking and to identify variances between agreed and actual allocations. | |||
| Financial allocation is monitored against organisational objectives and priorities and corrective action is taken as required in accordance with organisational policy and procedures. | |||
| Budget management is undertaken that meets the financial accountability requirements of the organisation. | |||
| Expenses are monitored against budget and authorised in accordance with financial delegation and organisational financial controls. | |||
| Financial reports are obtained and provided in accordance with organisational requirements. | |||
| Expenses are monitored through analysis of financial information/reports and problems are resolved or referred in accordance with organisational procedures and financial delegation. | |||
| Expenditure is aligned with service delivery milestones/expectations. | |||
| Changes to the budget are negotiated to account for potential under-spending, delays in service/program delivery, overruns and unneeded line items in accordance with organisational policy and procedures. | |||
| Requirements for financial management and reporting are identified in accordance with the public sector financial management framework. | |||
| Financial management and reporting are undertaken in accordance with organisational requirements and public sector financial management policy and procedures. |
Forms
Assessment Cover Sheet
PSPMNGT610A - Manage public sector financial resources
Assessment task 1: [title]
Student name:
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I declare that the assessment tasks submitted for this unit are my own work.
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Result: Competent Not yet competent
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Assessment Record Sheet
PSPMNGT610A - Manage public sector financial resources
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
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Feedback to student:
Overall assessment result: Competent Not yet competent
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Date:
Student signature:
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