A mandatory requirement for all business cases submitted to Treasury is the completion of:
◼ an economic appraisal (supported by financial analysis) to evaluate the costs and benefits of the options and to determine which option offers superior value for money
◼ a financial impact statement to evaluate the budget impact of the options and the preferred option. A financial impact statement template must be prepared for all submissions to Cabinet. Submissions must be referred to Treasury for review and sign off prior to consideration by Cabinet and
◼ a financial appraisal for capital projects of Government businesses and all projects of General Government agencies which involve a financing decision (e.g. outsourcing projects and joint public/private sector infrastructure projects) and Treasury may also request a financial appraisal be undertaken for projects that are outside these categories.