The Budget Operations Framework (BOF), Financial Reporting Operations Framework (FROF) and Performance Management Framework (PMF) currently form the three frameworks that underpin budgeting and financial management in the State of Victoria.
Effective from 1 July 2019 onwards, the Resource Management Framework (RMF) will replace the BOF and PMF. The RMF combines the policies and processes in the BOF and PMF into a single cohesive and comprehensive framework. The RMF was developed in consultation with departments.
Departments are required to apply these frameworks under the Standing Directions 2018 under the Financial Management Act 1994 (Directions). This includes the compliance requirements set out in the Directions, including public attestation of compliance in annual reports from 2017-18.
DTF will continue to review the content of these frameworks as policies evolve and change. Departments will be notified when this occurs.