Finance

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​Our Commitment

As a statutory authority, Queensland Rail is committed to ensuring that its financial activities are undertaken in a manner that is appropriate, defensible and consistent with all statutory requirements, applicable accounting standards and Queensland Government requirements.  Within these parameters, the Board determines the limits and requirements for financial activities within Queensland Rail.

What we will do

To ensure Queensland Rail operates within the prescribed limits and requirements, we will:

  • satisfy the requirements prescribed in the Queensland Rail Transit Authority Act 2013, Financial Accountability Act 2009, Statutory Bodies Financial Arrangements Act 1982 and the applicable Australian Accounting Standards;
  • ensure decisions relating to financial and accounting matters are sound and defensible;
  • ensure the annual financial reports submitted to responsible Ministers are a fair, accurate and complete representation of the financial affairs of Queensland Rail (and its related entities) and have been audited by Queensland Audit Office;
  • provide appropriate guidance to all Queensland Rail employees, contractors and consultants about the broad financial disciplines that Queensland Rail is subjected to and the issues it encounters every day, including the imposition of limits where applicable;
  • require personnel to observe applicable Board-imposed constraints on financial activities and the limits of financial delegations;
  • undertake procurement activities with integrity using the most efficient business practices to achieve the best value outcomes, and
  • ensure all expenditure on travel, accommodation, entertainment and hospitality is reasonable, achieving optimum value-for-money outcomes at all times and is otherwise able to withstand public scrutiny.