Management of Specific Purpose Funds by public health services
Overview
Specific Purpose Funds (SPFs) are moneys and property received by public health services from various sources and may include donations, bequests and research funding.
Public health services disclosed in excess of $255 million in SPF reserves and more than $45 million in trust funds in their 30 June 2007 financial statements. Our audit covered four public health services which disclosed a total of around $118 million in SPF reserves and $28 million in trust funds in their financial statements.
This audit examined how well the four public health services managed such funds for the period May 2006 through April 2007.