The RMF includes mandatory requirements and guidance for departments on a range of topics including matters relating to the Department Funding Model, objectives and outputs, appropriation funding, trust accounts, carryovers, reporting and other topics.
All Victorian government departments will be required to apply the RMF under the Standing Directions 2018 under the Financial Management Act 1994.
The RMF is effective from 1 July 2019 onwards.
The fact sheet provides further information on the RMF.
Additional guidance to the RMF has now been issued on the evaluation of lapsing programs - quantifying the effect of programs.