Portfolio departments engage contract and temporary staff, in addition to ongoing staff, to deliver public services and generate economic benefit. In this Part we report on the use of contract and temporary staff across the 11 portfolio departments during 2012–13.
In this Part we review the financial sustainability of 47 self-funded entities, that is, entities that generate the major part of their revenue from their operations, rather than depending upon government funding.
The self-funded entities should aim to generate sufficient revenue from operations to meet their financial obligations, and to fund asset replacement and asset acquisitions.
Independent audit opinions add credibility to financial reports by providing assurance that the information reported is reliable. This Part covers the results of the 2012–13 audits of 11 portfolio departments and 197 associated entities, and our observations regarding the quality of agency financial reporting.
This report covers the 11 portfolio departments and 197 associated entities with 30 June 2013 balance dates. The most common reporting frameworks for these entities are the Financial Management Act 1994 (FMA) and the Corporations Act 2001. Figure 1A shows the number of entities per portfolio and legislative reporting framework.
Figure 1A
Entities by portfolio and legislative reporting framework
This report presents the outcomes and observations from the financial audits of the 11 portfolio departments and 197 associated entities that are not reported in our other sector based reports.
These 208 entities make up the core of the public service and are responsible for delivering key public services and community support programs. It is important that they prepare high quality financial reports in a timely manner so that Parliament and the public can see the revenue, expenses, assets and liabilities required to provide public services and programs.
Ordered to be printed
VICTORIAN GOVERNMENT PRINTER November 2013
PP No 280, Session 2010–13
Ordered to be printed
VICTORIAN GOVERNMENT PRINTER June 2013
PP No 241, Session 2010–13
In accordance with section 16(3) of the Audit Act 1994 a copy of this report was provided to the Department of Education and Early Childhood Development with a request for submissions or comments.
The submissions and comments provided are not subject to audit nor the evidentiary standards required to reach an audit conclusion. Responsibility for the accuracy, fairness and balance of those comments rests solely with the agency head.