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Measuring Remeasurements Treasury Applications Guidance

Issue date: 
Monday, 19 March 2018
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Formats and related files

Version 2.1 published 19 Mar 2018

The Public Finance Act 1989, as amended by the Public Finance Amendment Act 2004, provides that the Crown or an Office of Parliament must not incur expenses except as authorised by an appropriation or other statutory authority. However, remeasurements, as defined by section 2 of the Act, are not included in the meaning of expenses (s4). The purpose of this paper is to establish guidance for making judgments as to whether an item is a remeasurement or an expense requiring appropriation.  This document is available for download in Adobe PDF format only.

1 Introduction

2 The Legislative Context

3 Objective of Excluding Remeasurements from Appropriations

4 Making Judgements on Remeasurements

  • 4.1 Key judgements required to determine if an item is a remeasurement
  • 4.2 Examples of Remeasurements and Expenses requiring appropriation
  • 4.3 Particular Example 1: Losses on Sale or Disposal of Assets
  • 4.4 Particular Example 2: Distinguishing between Forgiveness, Provisions and Write-offs
  • 4.5 Particular Example 3: Asset impairments included in Output Costs
  • 4.6 Particular Example 4: Movements in Value of Working Capital Items
  • 4.7 Particular Example 5: Changes in Accounting Policy

5 Managing Remeasurements

  • 5.1 Non-departmental Remeasurements
  • 5.2 Departmental Remeasurements
  • 5.3 Revaluations That Are Not Remeasurements
  • 5.4 Realising Revaluation Gains and Losses

6 Reporting Remeasurements

Contact for enquiries

Fiscal Reporting
Tel: +64 472 2733
Fax: +64 473 0982
Last updated: 
Thursday, 26 April 2018