Appendix E. Performance reporting
Financial indicators
Figure E1 Financial indicators
|
Indicator number |
Indicator |
Metropolitan wholesaler |
Metropolitan retailer |
Regional urban |
Rural |
|---|---|---|---|---|---|
|
F1 |
Appendix D. Acronyms and glossary
Acronyms
AAS Australian Auditing Standard
AASB Australian Accounting Standards Board
CMA Catchment Management Authority
DELWP Department of Environment, Land, Water & Planning
DTF Department of Treasury & Finance
ESC Essential Services Commission
FAL Financial Accommodation Levy
FMA Financial Management Act 1994
FRD Financial Reporting Direction
Appendix C. Risks to financial sustainability
Financial sustainability risk assessment indicators
This Appendix sets out the definitions, criteria and changes made to the financial indicators applied in this report from prior years that assist us in conducting our assessment of risks to financial sustainability across the water sector.
The financial sustainability indicators used in this report are indicative and merely highlight risks to ongoing financial sustainability at a sector and cohort level—metropolitan, regional urban and rural.
Appendix B. Management letter risk ratings
Figure B1 shows the risk ratings applied to management letter points raised during an audit.
Figure B1
Risk definitions applied to issues reported in audit management letters
Rating |
Definition |
Management action required |
|---|---|---|
Extreme |
The issue represents: |
Appendix A. Water entity list
Figure A1 lists the legal and trading names of the 21 entities including two controlled entities that form part of the Victorian water industry.
Figure A1
Water entities and controlled entities
Legal name |
Trading name |
|---|---|
Metropolitan cohort | |
4 Trends in debt management
At a glance
Background
In this Part we comment on the trend in borrowings and the extent of debt refinancing (rollover) across the water sector for the past five years. We also consider the risks to longer-term financial sustainability in light of current debt management practices.
3 Performance reporting
At a glance
Background
This Part covers the results of the 2014–15 audits of water entity performance reports. Our annual audit of the performance report of water entities provides an opinion on whether the actual results reported are presented fairly and in compliance with the legislative requirements. We do not form an opinion on the relevance and appropriateness of the reported performance indicators.
2 Financial outcomes
At a glance
Background
This Part looks at the collective 30 June 2015 financial position of the 19 water entities. It details the main drivers behind the net results achieved, and analyses the sector's financial sustainability risks.
1 Context
1.1 Introduction
This report details the outcomes of the 2014–15 financial audits of Victoria's 19 water entities. In addition, there are two controlled entities, where one no longer actively trades, and the other is captured in the consolidated results of the parent entity. As a result, no further comments are made on the results of these audits throughout this report.
Auditor-General's comments
|
Dr Peter Frost Acting Auditor-General |
Audit team Roberta Skliros—Engagement Leader Jan-Michael Perez—Team Leader Jie Yang—Team member Richard Ly—Team member Engagement Quality Control Reviewer Travis Derricott |