The Budget Timeline
Budget Timeline At a Glance
The budget process calendar is drawn below - you can use the filter to switch between Budgeting publications and Reporting publications. Hover your mouse over the colourful dots to see the publications leading up to the Budget Speech by the Minister of Finance in June!
Below the timeline the information is also presented in a table.
The timelines are presented again below, with National documents in black and Local documents in blue for clarity.
|Pubication Date||Document||Sphere||Purpose of Document|
|End February||Budget Framework Paper (BFP)||National||First publication of estimates for the next fiscal year|
|End April||Draft Budget Estimates||National||Draft budget estimates themselves|
|Background to the Budget||National||The economic context for the choices made in the budget|
|Ministerial policy statement (MPS)||National||Accompanies and justifies the draft budget on a ministerial level|
|Budget Framework Paper (BFP)||Local||First publication of estimates of expenditure and revenue for the next fiscal year|
|End May||Public investment plan||National||Details the government’s capital projects in the approved budget|
|Approved Budget Estimates||National||Presents the approved budget estimates, as approved by Parliament|
|Mid June||Budget Speech||National||Speech by the Minister of Finance presenting the approved budget|
|Central government expenditure limits||National||Breaks the Approved Budget into quarterly spending limits for agencies|
|End July||Approved Budget (Contract Form B)||Local||Presents the approved budget estimates, as approved by Parliament|
|Workplan||Local||Provides detailed information on government plans including quarterly outputs|
The budget process itself is only part of the story, however. Once the budgets have been set government and Agencies are required to report performance against them throughout the year. The timeline for the quarterly and annual reports is set out below, again with National documents in black and Local documents in blue for clarity.
|Publication Date||Document||Sphere||Purpose of Document|
|Within 1 month of the end of the quarter||Quarterly reports||National||Cumulative progress towards approved budget output targets and expected expenditure|
|Within three months of the end of the fiscal year||Annual Budget Performance report (ABPR)||National||Information on how the central government performed against the budget|
|Within six months of the end of the fiscal year||Audited financial statements (AFS)||National||The final audited financial figures for the year|
|Within 1 month of the end of the quarter||Quarterly reports||Local||Cumulative progress towards approved budget output targets and expected expenditure|
|Submitted to central government three months after the day of the period.||Annual report||Local||Information on how each local government performed against the budget|