Explore Victorian Governance Framework
Governance Framework
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Contract Disclosure
Contract Disclosure Record
Contract Management Plan
Contract Management Plan
Evaluation Plan
Evaluation Plan
Local Jobs First Plan
Local Jobs First Plan
Market Approach Documentation
Market Approach Documentation
Probity Plan
Probity Plan
Procurement Plan
Procurement Plan
Sourcing Strategy
Sourcing Strategy
Value for Money Assessment
Value for Money Assessment
AMAF
Asset Management Accountability Framework
Gateway / HVHR
Gateway Review Process and High Value High Risk Framework
Infrastructure Procurement Framework
Victorian Infrastructure Procurement Framework
PROV
Public Record Office Victoria — Records Management Standards
PV Requirements
Partnerships Victoria Requirements 2016
Partnerships Victoria
Partnerships Victoria
VAGO
Victorian Auditor-General's Office
VGRMF
Victorian Government Risk Management Framework
VPDSF
Victorian Protective Data Security Framework
VPSC Integrity
Public Sector Integrity Framework
Instruction 4.2.1
Instruction 4.2.1 — Acquisition of Assets, Goods and Services
Audit Act
Audit Act 1994
FM Regulations
Financial Management Regulations 2024
FMA
Financial Management Act 1994
FMA Part 7A
FMA Part 7A — Supply Management (VGPB)
FOI Act
Freedom of Information Act 1982
GE Act
Gender Equality Act 2020
IBAC Act
Independent Broad-based Anti-corruption Commission Act 2011
LJF Act
Local Jobs First Act 2003
Modern Slavery Act
Modern Slavery Act 2018 (Cth)
OHS Act
Occupational Health and Safety Act 2004
Ombudsman Act
Ombudsman Act 1973
PAA
Public Administration Act 2004
PDCMA
Project Development and Construction Management Act 1994
PDP Act
Privacy and Data Protection Act 2014
PID Act
Public Interest Disclosures Act 2012
PRA
Public Records Act 1973
Complexity Policy
VGPB Policy 2: Complexity and Capability Assessment
Contract Management Policy
VGPB Policy 5: Contract Management and Disclosure
Fair Jobs Code
Fair Jobs Code
Governance Policy
VGPB Policy 1: Governance
LJF
Local Jobs First
Market Analysis Policy
VGPB Policy 3: Market Analysis and Review
Market Approach Policy
VGPB Policy 4: Market Approach
Overlay Policies
Procurement-Related Overlay Policies (21 policies)
Professional Services Guidelines
Administrative Guidelines on Engaging Professional Services and Labour Hire
SPF
Social Procurement Framework
VGPB Policies
VGPB Supply Policies — Overview
AWS SPC
Amazon Web Services
Banking SPC
Banking and Financial Services
Career Management SPC
Career Management Services
Cyber Security SPC
Cyber Security
EUCE SPC
End User Computing Equipment and Associated Services
EV Charging SPC
Public Charging of Fleet Electric Vehicles
Electricity Large SPC
Electricity Contract: Large Sites
Electricity Small SPC
Electricity Contract: Small Sites
Energy Performance SPC
Energy Performance Contracting
Fleet Disposals SPC
Fleet Disposals
Fuel SPC
Fuel and Associated Products
Gas Large SPC
Natural Gas Contract: Large Sites
Gas Small SPC
Natural Gas Contract: Small Sites
Geospatial SPC
Geospatial Data and Analytics Panel
Google SPC
Google Australia
Legal Services SPC
Legal Services Panel
MAMS SPC
Master Agency Media Services (MAMS)
MFD & Printers SPC
Multifunction Devices and Printers
Mail & Delivery SPC
Mail and Delivery Services
Media Monitoring SPC
Media Monitoring Services
Microsoft EA SPC
Microsoft Enterprise Agreement
Microsoft LSP SPC
Microsoft Licensing Solution Provider
Motor Vehicles SPC
Motor Vehicles
Office Telephony SPC
Victorian Office Telephony Services
Oracle SPC
Oracle Systems
Print Management SPC
Print Management and Associated Services
Professional Advisory SPC
Professional Advisory Services
Recruitment Advertising SPC
Recruitment Advertising Services
SAP SPC
SAP
Salesforce SPC
Salesforce
Security Services SPC
Security Services
ServiceNow SPC
ServiceNow
Staffing Services SPC
Staffing Services
Stationery SPC
Stationery and Workplace Consumables
Telecom SPC
Telecommunications Services
Travel SPC
Travel Management Services
eProcurement SPC
eProcurement Platform
Construction Directions
Ministerial Directions and Instructions for Public Construction Procurement
FRD 12
FRD 12 — Disclosure of Major Contracts
SD 3.3
Direction 3.3 — Financial Authorisations
SD 3.5
Direction 3.5 — Fraud, Corruption and Other Losses
SD 3.7
Direction 3.7 — Managing Risk
SD 4.2.1
Direction 4.2.1 — Acquisition of Assets, Goods and Services
SD 4.2.2
Direction 4.2.2 — Discretionary Financial Benefits
SD 4.2.3
Direction 4.2.3 — Asset Management Accountability
SD 4.2.4
Direction 4.2.4 — Public Construction Accountability
SD 4.2.5
Direction 4.2.5 — Landholding Accountability
SD 5.1
Direction 5.1 — Financial Management Compliance
SDs
Standing Directions 2018 — Overview
Requirements
Evidence: Compliance with Standing Directions and associated frameworks
Applies to
Department, Public Body — All categories
Detail
Financial Management Act 1994
Summary
The FMA is the foundational legislation for financial management and accountability across Victorian government. It establishes the obligations of accountable officers (department secretaries) and responsible bodies (boards of public entities) for the financial management of their organisations.
The Act's most significant practical effect is section 8, which empowers the Minister for Finance to issue Standing Directions that bind all departments and public bodies. The Standing Directions are where most day-to-day obligations originate — the FMA provides the legal authority, the SDs provide the specific requirements.
Current version: Authorised Version No. 068, effective 20 August 2025. Amended by the Financial Management Legislation Amendment Act 2025 (No. 30/2025), which added s8(6) (compliance obligation), s8A (Guidelines power), s8B (establishment/abolition of entities), s52A (dispensation of financial statements), and the "Department Head" definition to s3.
Key Provisions
| Section | What it does |
|---|---|
| s3 | Definitions: accountable officer, public body, department, specified entity, chief finance officer, Department Head |
| s8 | Empowers Minister for Finance to issue Standing Directions binding departments and public bodies |
| s8(6) | Person or body given a direction under s8(1) must comply (added by No. 30/2025) |
| s8A | Minister may issue guidelines for accountable officers or public bodies (added by No. 21/2024) |
| s8B | Governor in Council may establish or abolish certain entities on Minister's recommendation (added by No. 30/2025) |
| s42 | Designates the accountable officer for each department (the secretary) |
| s43 | Designates the chief finance officer for each department |
| s44 | Duties of accountable officers |
| s44A–45 | Reporting obligations for departments and public bodies |
| s51 | Relevant Minister may require additional information in reports |
| s54AA | Governor in Council may declare "specified entities" subject to Part 7A (VGPB coverage) |
| s54A | Establishes the Victorian Government Purchasing Board as a body corporate |
| s54B | Functions of the Board: develop/implement/review supply policies, monitor compliance, provide advice |
| s54C | Powers of the Board: contracting, tendering, compliance audits, data collection |
| s54L | Board may prepare/make/amend/revoke supply policies; all accountable officers and staff must comply |
| s54M | Board annual report (by 30 September each year) |
Key Relationships
The FMA sits at the top of the Victorian financial governance hierarchy:
FMA 1994 (s8)
└── Standing Directions 2018
├── Ch 3 — Governance (risk, fraud, financial authorisations, audit)
├── Ch 4 — Delivering Services
│ ├── SD 4.2.1 — Procurement (VGPB supply policies via s54L)
│ ├── SD 4.2.2 — Grants/sponsorships
│ ├── SD 4.2.3 — Asset management (AMAF)
│ ├── SD 4.2.4 — Public construction (PDCMA)
│ └── SD 4.2.5 — Landholding (new Oct 2025)
└── Ch 5 — Compliance, reporting, attestation
Other Acts that interact with the FMA: - Audit Act 1994 — VAGO's audit mandate covers FMA compliance - Public Administration Act 2004 — governance framework for public entities - Privacy and Data Protection Act 2014 — VPDSF mandated via SDs
Part 7B — Acquisition, Leasing and Licensing of Land
Sections 54N–54P (inserted by No. 40/2007) provide the legislative basis for SD 4.2.5 (Landholding). The Minister may issue directions about the acquisition, leasing, and licensing of land by departments and public bodies.