VPRS 11331 Abstract Books:Expenditure [Consolidated Revenue Fund]

Full description

This series consists of Daily Abstract Books: Expenditure created from 1856 to 1860. From 1861 they were replaced by Detailed Ledgers of Expenditure (see VPRS 11332).

Separate books were created for recording revenue and expenditure transactions. The Daily Abstract Books: Revenue are located in VPRS 11327.

The information recorded included:
Date of payment;
No of voucher;
Name of the body to which the payment was made;
Particulars of payment;
Page number of the journal.

An Overview of Victorian Public Accounting

The keystone of the system of responsible government is Parliaments control of finance. The government has no financial resources of its own and depends on Parliament to make moneys available to it from a central fund into which all proceeds of taxation and other revenues are paid. The Government is accountable to the Parliament for the expenditure of these moneys...Nevertheless two principal features of Australian fiscal federalism detract from the control of finance by Commonwealth and State parliaments...The first is the regular transfer of substantial funds as grants or loans for general or specific purposes from the Commonwealth to the States. The other is the centralization of government borrowing through the Australian Loan Council... [General Financial Arrangements Between the Commonwealth and Victoria 1981/82. Intergovernmental Relations in Victoria Program, University of Melbourne 1982.]

Consolidated Revenue

General revenue from sources such as taxation, the sale and rental of crown lands, payments received from the Commonwealth under various financial agreements and special grants and receipts from other sources such as the payment of fines and fees was paid into the Consolidated Revenue Fund. Expenditure from this fund was authorised either under an Annual Appropriation Act which governed expenditure on Departmental salaries and wages, capital works and contingencies or under one of many special appropriation acts. These latter acts governed the payment of such items as the salaries and allowances of the Governor, members of Parliament, judges and certain other public officials and authorised expenditure on State pensions and payments to such bodies as the Hospitals and Charities Fund, the Housing Commission, the Mint and educational institutions.

Special funds were also established under various Acts which authorised the raising and expenditure of revenue for specified purposes. Such funds were considered part of the consolidated revenue but were managed separately. The revenue of some of these funds was primarily a transfer of revenue from consolidated revenue but the revenue of other funds was raised through specified fees and charges. For example, in the 1960s the revenue of the Country Roads Board Fund was derived from payments made by municipalities, fees and fines levied under the Motor Car Act, the Country Roads Act, the Commercial Goods Vehicles Act and drivers licence fees. While some special funds were continuing, others were established for a specific short term purpose.

Loan Fund

Until 1970, a separate account known as the Loan Fund was maintained by Treasury. The Public Account Act 1958 required that all moneys borrowed for and on behalf of the State pursuant to the Commonwealth and State Financial Agreement Act 1927, all moneys obtained by the Treasurer by way of temporary advance, moneys received in repayment of loans and advances and from the sale of property purchased or produced out of loan funds be credited to the Loan Fund.

Until 1927, the State raised its own public loans under the provisions of various specific loan acts. Parliament authorised the raising of public loans and the expenditure of loan funds. With the advent of the Commonwealth and States Financial Agreement, the State ceased to raise public loans and instead shared in the proceeds of loans raised by the Commonwealth at the direction of the Australian Loan Council.

Funds from the General Loan Account were used primarily for capital works and services including the construction and development of railways, roads and bridges, harbours and rivers, water supply, electricity supply, public buildings such as schools and hospitals and support for primary production.

In 1970 the Public Account Act 1958 was substantially amended to provide for the amalgamation of the former Consolidated Revenue and Loan funds into a single new account, the Consolidated Fund. At the same time, a trust fund, the Works and Services Account was established to cater for expenditure on capital works and services.

Trust Fund

In addition to the Consolidated Fund, the Public Account included a large number of trust accounts which collectively comprised the Trust Fund. They were notionally divided into four categories: State government funds, including the works and services account; joint Commonwealth and State funds; Commonwealth government funds and moneys held for bequests, donations, deposits and research.

The operation of the Trust Fund is regulated by the Public Account Act 1958, although its establishment was more directly attributable to the Audit Act. The Public Account Act provides that the Treasurer may establish trust accounts and define the purposes for which they are established. Unlike the Consolidated Fund, expenditure from the Trust Fund, other than from the works and services account, does not require parliamentary approval. However, section 12 of the Act provides that it shall not be lawful for the Treasurer to expend any moneys from the Trust Fund for purposes other than the one for which a trust account was established.

Records

Public sector accounting systems comprise a structured collection of records which together document the financial transactions of government.

The Treasury maintained cash books, journals, daily abstract books which were succeeded by detailed ledgers for general revenue and special accounts, provisional ledgers for trust funds and special appropriations, trust fund ledgers, loan ledgers, works and services ledgers and the public account ledger which was the prime ledger.

The Treasurer was required to present an annual Budget and an annual Finance Statement to Parliament. The latter was frequently accompanied by the report of the Auditor-General.

Records in PROV custody

VPRS 11325 Cash Books: Revenue and Expenditure [Consolidated Revenue Fund]1856-1872

VPRS 11326 Cash Books: Revenue [Consolidated Revenue Fund] 1872-1973

VPRS 11330 Cash Books: Expenditure [Consolidated Revenue Fund] 1872-1974

VPRS 11328 Journals [Consolidated Revenue Fund] 1856-1974

VPRS 11327 Abstract Books: Revenue [Consolidated Revenue Fund] 1857-1860

VPRS 11331 Abstract Books: Expenditure [Consolidated Revenue Fund] 1856-1860

VPRS 11329 Ledgers: General Revenue and Special Accounts 1861-1973

VPRS 11332 Expenditure Ledgers [Consolidated Revenue Fund] 1861-1974

VPRS 11336 Loan Ledger 1885-1970

VPRS 11337 Works and Services Ledger 1970-1974

VPRS 11333 Provisional Ledgers: [Trust Funds and Special Appropriations] 1857-1974

VPRS 11334 Trust Fund Ledgers 1858-1979

VPRS 11335 Public Account Ledger 1856-1974

[In 1974 the Treasury introduced an electronic recordkeeping system.]

VPRS 11342 Agent-General Accounts 1857-1914

VPRS 11340 Agent-General Ledgers 1856-1961

VPRS 11341 Agent-General: Service Account: Remittances and Collections 1915-1963

VPRS 11344 Agent-General Service Account: Payments 1915-1963

VPRS 11343 Advances and Agent-General Remittances Account 1862-1968

VPRS 11345 Record of Miscellaneous Funds and Accounts 1870-1971

VPRS 11338 Loan Council: Minutes of Meetings 1927-1980

VPRS 11339 Loan Council: Reports and Papers 1977-1981

(See also List of Holdings 1985 pages 390-392)