| CBD | Central business district |
| ClicSim | City Loop and Inner Core Simulation |
| DEDJTR | Department of Economic Development, Jobs, Transport and Resources |
| DELWP | Department of Environment, Land, Water and Planning |
| DoT | Department of Transport |
| DPC | Department of Premier and Cabinet |
| DTF |
Independent assurance report to Parliament
Ordered to be published
VICTORIAN GOVERNMENT PRINTER June 2019
PP No 38, Session 2018–19
Dear Presiding Officers
Ordered to be published
VICTORIAN GOVERNMENT PRINTER May 2019
PP No 32, Session 2018–19
Dear Presiding Officers
Our dashboard is interactive visualisation tool summarising the financial statement data for all Victorian technical and further education (TAFE) institutes.
Do you need help using the dashboard? Read our dashboard instructions.
Responsibility of public-sector entities to achieve their objectives in the reliability of financial reporting; effectiveness and efficiency of operations; compliance with applicable laws; and reporting to interested parties.
The systematic allocation of the depreciable amount of an intangible asset over its expected useful life.
An item or resource controlled by an entity that will be used to generate future economic benefits.
Figure E1 shows indicators used in assessing the financial sustainability risks of TAFE institutes. These indicators should be considered collectively and are more useful when assessed over time as part of a trend analysis.
Figure E1
Financial sustainability risk indicators, formulas and descriptions
|
Indicator |
Formula |
Description |
|---|---|---|
|
Net result margin (%) |
Figures D1 shows the performance statement indicators, description and methodology, while Figures D2–D13 show each TAFE institute's reported performance against the four indicators for 2016 to 2018.
Figure D1
Performance statement indicators and formula
|
Indicator |
Description and methodology |
|---|---|
|
Training revenue diversity |
Figure C1 shows the risk ratings we apply to issues we raise, the management action required, and the expected timeline for the issue to be resolved.
Figure C1
Risk definitions applied to issues reported in audit management letters
|
Rating |
Definition |
Management action required |
|---|
Figure B1 lists the entities included in this report, the nature of the opinion and the date the audit opinion was issued to each entity for their 2018 financial reports.
Figure B1
Audit opinions issued for TAFEs and their controlled entities
|
Entity |
Clear audit opinion issued |
|---|
We have consulted with DET and the 12 TAFE entities and we considered their views when reaching our audit conclusions. As required by section 16(3) of the Audit Act 1994, we gave a draft copy of this report, or relevant extracts, to those agencies and asked for their submissions and comments. We also provided a copy of the report to the Department of Premier and Cabinet.
Responsibility for the accuracy, fairness and balance of those comments rests solely with the agency head.
Responses were received as follows: