The Statutory Bodies Financial Arrangements Act 1982 (SBFA Act) requires local governments to obtain the Treasurer’s approval before entering into particular financial arrangements.
A local government proposing to enter into such an arrangement must provide the Department with complete details of the proposal and a request that the Department seeks any necessary approvals on its behalf.
Please note that the SBFA Act does not provide for retrospective approvals.
Further information is provided on the following specific financial arrangements:
- General approval to enter into a lease
- General approval to provide an indemnity (Bulletin 04/17)
- Local government controlled entities (Bulletin 06/15)
- Approvals Required for the Establishment of a Company (Bulletin 08/13)
- Loans to community organisations (Bulletin 15/12)
For a general overview of the SBFA Act, please refer to Queensland Treasury’s Statutory Bodies Financial Arrangements Act 1982: Operational Guidelines.
Local governments are responsible for familiarising themselves with the requirements of the SBFA Act, including seeking their own legal advice.
For additional information or assistance, please contact:Finance and Funding
Department of Local Government, Racing and Multicultural Affairs
M: PO Box 15009, City East QLD 4002
T: (07) 3452 6720
E: Finance & Funding Requests