Section 78 of the Financial Management Act (the Act) provides that the Treasurer may issue instructions with respect to matters of financial administration. The ‘Treasurer's instructions’ have the force of law and therefore must be observed by all agencies to which they apply. It should be noted that Treasurer’s instruction 104 ‘Exemptions’ empowers the Treasurer to grant exemptions from the requirements of Treasurer's instructions where he/she considers it warranted. The Treasurer's instructions prescribe requirements at a minimum level on such matters as accounting for revenue, expenditure and property, the standards of reporting and such other matters necessary to achieve the objects and purposes of the Act. They contain sufficient flexibility to be applied to agencies of all sizes and scope, from centrally funded departments to those statutory authorities that operate in a commercial environment. Our refund policy is in accordance with Treasurers Instruction 320.