Public Finance Act 1989

E589800

The Public Finance Act 1989 is a key New Zealand statute that modernised government financial management by introducing accrual accounting, greater transparency, and stricter accountability for public sector spending.

All labels observed (2)

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Statements (47)

Predicate Object
instanceOf New Zealand statute
affects Crown entities in New Zealand
New Zealand Treasury NERFINISHED
New Zealand government departments NERFINISHED
appliesTo New Zealand central government NERFINISHED
New Zealand public sector
areaOfLaw administrative law
public finance law
country New Zealand
governmentTypeContext Westminster-style parliamentary democracy
governs Crown bank accounts
borrowing by the Crown
investment of public funds
use of public money in New Zealand
hasPrinciple accountability of Ministers and chief executives for financial performance
disciplined management of public debt and assets
fiscal responsibility
transparency in government financial information
introducedConcept accrual accounting for government financial reporting
clearer specification of chief executives’ financial responsibilities
distinction between policy advice and service delivery outputs
enhanced reporting requirements for departments
greater fiscal transparency
output-based appropriations
jurisdiction New Zealand
language English
legalSystem New Zealand law
purpose to improve transparency of public sector finances
to modernise government financial management in New Zealand
to strengthen accountability for public sector spending
region Oceania
regulates appropriations of public money
financial reporting by Crown entities
financial reporting by Offices of Parliament
financial reporting by government departments
public finances of New Zealand
use of public resources by Ministers and departments
relatedTo Fiscal Responsibility Act 1994 NERFINISHED
Public Finance (State Sector Management) Bill reforms NERFINISHED
requires appropriations to be authorised by Parliament
audited financial statements of departments
preparation of financial statements for the Crown on an accrual basis
publication of fiscal forecasts
regular reporting to Parliament on the use of appropriations
statements of objectives and performance for departments
shortTitle Public Finance Act 1989 NERFINISHED
title Public Finance Act 1989 NERFINISHED

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Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Minister of Finance of New Zealand associatedWithLaw Public Finance Act 1989
New Zealand Crown agencies subjectTo Public Finance Act 1989
this entity surface form: Public Finance Act 1989 (New Zealand)
New Zealand government departments subjectTo Public Finance Act 1989