Below is the information available about the QCT’s projected and actual income and expenditure, procurement, contracts and financial audit.
The QCT is a statutory body for the purposes of the Financial Accountability Act 2009 (Qld) (PDF, 912KB) (FAA Act) and the Statutory Bodies Financial Arrangements Act 1982 (Qld) (PDF, 504KB).
Under the Education (Queensland College of Teachers) Act 2005, the Minister approves the QCT’s annual budget.
Under the FAA Act, the QCT must prepare a report detailing its financial statements for the preceding financial year.
Information about the actual income and expenditure of the QCT is published in our annual reports.
The Financial and Performance Management Standard 2019, issued under the FAA Act, provides a framework for the QCT to develop and implement systems, practices and controls for the efficient, effective and economic financial and performance management of the office.
In Queensland, the State Procurement Policy contains the broader rules under which procurement is conducted by all government agencies. Each agency then has its own more detailed purchasing procedures, which sets out how their officers will buy goods and services. For the purposes of administering good practice in its financial management, the QCT maintains a QCT Financial Management Practice Manual.