Unit of competency Outline

Date retreived
22/07/2026 3:06 PM AWST

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Manage financial resources

Manage financial resources

Unit of competency
National Code
PUAMAN007
State Code
OAY20
TGA Status
Current
DTWD Status
Approved
Current Release Number
2.00
Current Release Date
08/02/2021
View on TGA
State Implementation and Classification
Approved Date
26/02/2020
Field of Education
080101 - Accounting
Original Release Date
26/02/2020
Nominal Hours
80
Description
This unit of competency involves the skills and knowledge required to manage financial resources to achieve organisation and operational objectives.The unit applies to any personnel with authority for the management of financial resources, including budgets, within a public safety organisation.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Develop budget
  • 1.1 Budgets are developed in required format, in accordance with organisational procedures
  • 1.2 Costs and income streams are identified and quantified, in accordance with organisational procedures
  • 1.3 Comparative analysis is prepared for major items, in accordance with organisational policies and procedures
  • 1.4 Subordinate budgets are integrated into the prime budget
  • 1.5 Implications of major shifts in proposed or actual budget allocations, income and/or expenditure are identified and analysed when preparing the budget
  • 1.6 Performance indicators are developed and implemented, in accordance with organisational procedures
  • 1.7 Financial resources are allocated to support achievement of operational objectives
2 Allocate, authorise and monitor expenditure
  • 2.1 Expenditure management is implemented to ensure it meets organisational financial accountability requirements
  • 2.2 Significant potential and actual variations from the budget are renegotiated, in accordance with organisational procedures
  • 2.3 Expenditure is authorised within financial authority limits, in accordance with organisational procedures and guidelines
  • 2.4 Supply and expenditure processes are in accordance with corporate governance and organisational protocols
  • 2.5 Financial reports are produced, as required, in a format nominated by the organisation
  • 2.6 Primary and subordinate budgets are monitored alongside achievement of financial and operational objectives
  • 2.7 Financial allocations are monitored, in accordance with organisational procedures, to ensure objectives and priorities relating to service delivery are met
  • 2.8 Reallocation of financial resources is undertaken, in accordance with organisational policy and procedures
3 Utilise financial management information systems
  • 3.1 Management information systems are used for planning, implementing and monitoring financial resource usage
  • 3.2 Management information system reports are produced, verified and interpreted, in accordance with organisational policy and procedures
No information
No information
Replaces
State Code National Code Title Type
AVM94 PUAMAN007B Manage financial resources Unit of competency