Special Accounts

A Special Account is an appropriation mechanism that sets aside amounts within the Consolidated Revenue Fund (CRF) for expenditure for special purposes. The appropriation is provided under section 20 or 21 of the Financial Management and Accountability Act 1997 [] (FMA Act)

The Department of Finance and Deregulation has developed Guidelines for the Management of Special Accounts. The Guidelines discuss a number of aspects of Special Accounts including their establishment, management, reporting and banking procedures.

Finance Circular 2003/09 provides a brief description of Special Accounts and explains why the proper management of Special Accounts is important. The Circular supersedes 'Finance Circular 1999/03 Reserved Money Fund (RMF) and Commercial Activities Fund (CAF) - Transition to "Special Accounts" from 1 July 1999'.