Budgeting for Availability PPPs policy reflects the Government's objective to achieve a systematic, consistent and comprehensive approach to budgeting for assets and services that are delivered under Availability PPP contracts.
Budgeting for Availability PPPs policy requires General Government agencies and PTEs (Relevant Entities) to budget for the liabilities that arise in relation to projects that are delivered under Availability PPP contracts. This includes budgeting for the capital, operational and financing elements of the Service Payment. In addition, it requires Relevant Entities to budget for the relevant projects at all stages, from investment decision through to the operational period of the Availability PPP project and provides guidance on reporting requirements.
The key requirements of this policy are outlined below:
■ All Relevant Entities that are in the process of procuring or are bound by an Availability PPP contract must comply with this policy.
■ Relevant Entities must develop and maintain data submissions in accordance with this policy.
■ Submissions comprise completed Availability PPP Budgeting Data Tables (PPP Data Tables) and completed quarterly Construction Progress Reports and annual Operational Progress Reports.
■ PPP Data Table submissions should be made as part of the budget returns process.
■ Any relevant templates and associated guidance will regularly be reviewed and updated by Treasury.