Health Infrastructure outlines financial reporting requirements for all projects and/or programs in the "Cost Planning and Reporting Standards" practices guidelines.
The guidelines provide details of standard monthly reporting practices required to be completed, and the delegation of authority and responsibility of various parties for completing monthly reports.
Along with contingency performance, the Health Infrastructure Monthly Financial Report captures information including project budget status, funding sources, cash flow, and financial risks. It can also be used as a base data source for Project Planning and Development Committee, Project Control Group and Executive Steering Committee governance groups.
This approach ensures the regular and transparent disclosure of contingency performance across all levels of governance and to all stakeholders throughout the investment lifecycle.