Output 2.2 Financial Management

Overview

The directorate advised the Government and agencies on the development of the Territory’s budget, advising on financial issues relating to agencies and the Territory, and provided advice on accounting policies and financial frameworks. The directorate was also responsible for reporting on the Territory’s Capital Works Program and for reviews of services, programs and functions provided by the Government.

The directorate supports the selection, funding, implementation, delivery and whole-of-life transaction management of complex and major infrastructure projects. To enable and facilitate the delivery of major and complex infrastructure projects in the ACT the directorate:

  • supported and advised on Public Private Partnership transactions, including procurement;
  • provided whole-of-life project transaction support;
  • supported the delivery phase on major projects;
  • reviewed PPP contract management arrangements;
  • provided governance and secretariat support for major projects, a range of taskforces and other projects as directed by Cabinet;
  • provided commercial support on the assessment of unsolicited proposals; and
  • progressed infrastructure reform through new delivery models, improved governance, and better allocation of project risks.

Highlights

Against this output in 2015-16 the directorate:

  • prepared the Territory’s Consolidated 2014-15 Annual Financial Statements, the 2015-16 Budget Review and the 2016-17 Budget consistent with legislative requirements and timeframes;
  • prepared the Appropriation Act 2015-2016 and Appropriation (Office of the Legislative Assembly) Act 2015-2016, which were both passed by the Assembly on 11 August 2016;
  • worked with directorates on the development of major policy initiatives including: the significant expansion of services to address domestic and family violence, the formation of the Transport Canberra and City Services Directorate, commencement of stage one of the light rail network; and strategies to promote urban renewal and revitalisation of the city (including the sale of assets under the Asset Recycling Initiative);
  • continued the implementation of the Government Budget Management System, a key component of the Territory’s budgeting process;
  • commenced and completed a review of select budget programs;
  • commenced a Human Services Cluster Review which is considering services that impact upon or alleviate disadvantage and persistent marginalisation for children aged 0-8 years and their families;
  • undertook consultation on options to improve the Concessions Program;
  • commenced work on the Independent Review of CHC Affordable Housing, as part of the Loan Agreement between the Territory and the company;
  • reviewed and updated the following policy frameworks:
    • The Capital Framework;
    • The Partnerships Framework;
    • The Guidelines for Public Private Partnerships; and
    • The Guidelines for Unsolicited Proposals;
  • supported the ACT Courts PPP project during the procurement phase and its role continues into the Design and Construct Phase, with continuing support being provided through advice to the Project Control Group and through its membership of the Executive Steering Committee and Senior Representatives’ Group;
  • supported and advised on the tender evaluation and procurement phase of the Capital Metro project, including participation in the interactive bid process and on the Tender Evaluation Teams;
  • supported and advised on the procurement phase of the University of Canberra Public Hospital project, including participation in the Project Control Group, Tender Evaluation and Executive Steering Committee;
  • assisted in the pre-business case commercial analysis of the Australia Forum, to get this project investment ready; and
  • provided comprehensive secretariat and governance support to a range of major projects, taskforces and Executive-led meetings.

The directorate met six out of seven targets against this output. The target not met was (f) Policy/service reviews completed. Due to changing priorities a foreshadowed review of property management was replaced with the Human Services Cluster Review that commenced during the reporting period but will not be completed until 2016-17.

Future Direction

In 2016-17 the directorate will:

  • prepare the 2016-17 Budget Review, the 2017-18 Budget, and the Territory’s Consolidated 2015‑16 Annual Financial Statements;
  • coordinate the Government’s budget processes and report on financial outcomes;
  • provide regular updates to the Budget Committee of Cabinet on the Territory’s finances to allow the Government to manage the public finances appropriately and maintain a strong balance sheet;
  • provide regular updates to the Government on the progress of its infrastructure program, including regular reports to the Budget Committee of Cabinet;
  • prepare the pre-election budget update and the policy costing responsibilities outlined in the Election Commitment Costings Act 2012;
  • work with directorates on significant policy issues to help achieve value for money in the use of government resources;
  • continue to strengthen the budget planning and management process, as well as monitor agencies’ financial performance;
  • continue to improve the planning, scheduling and delivery of capital works projects across the Territory;
  • commence and complete the Human Resources and Financial Services Update and work flowing from the review of select budget programs;
  • complete the Human Services Cluster Review;
  • continue to implement The Partnerships Framework, which establishes the framework for:
    • delivery of major infrastructure projects under models including Design, Construct, Maintain and Operate and PPP;
    • evaluation of unsolicited proposals under a structured framework; and
    • provision of infrastructure advice across the ACT Government as required;
  • provide support for PPP life-of-project transactions such as refinancing, assignments, change of control, and enhancements;
  • provide a specialist resource to support the delivery phase on major projects and protect the Territory’s interests;
  • review PPP contract management arrangements post commissioning of assets;
  • facilitate the delivery of PPP projects in the Territory, including the ACT Courts PPP project, the Capital Metro Project and future PPP projects;
  • provide support and advice on major infrastructure projects and transactions under models including Design, Construct, Maintain and Operate and PPP, including transaction execution through to financial close; and
  • provide comprehensive secretariat and governance support to a range of major projects, taskforces and Executive-led meetings to ensure decision making on high risk projects is of the highest standard, appropriately recorded and that probity and policy requirements are fully satisfied.

For further information contact:

Mr Stephen Miners
Executive Director
Finance and Budget Division
+61 2 6207 5071
Stephen.Miners@act.gov.au

Mr Peter Murray
Executive Director
Infrastructure Finance and Advisory Division
+61 2 6207 5650
PeterR.Murray@act.gov.au

Mr Neil Bulless
Executive Director
Expenditure Review Division
+61 2 6207 0264
Neil.Bulless@act.gov.au

Previous page Next page