Reports
Actions for Volume Two 2015 focusing on Universities
Volume Two 2015 focusing on Universities
Generally, NSW universities are in a sound financial position, but average operating margins are falling and operating expenditure is growing faster than operative revenue.
The university sector’s average operating margin fell from 6.6 per cent in 2013 to 4.8 per cent in 2014 and combined operating expenditure grew 0.9 per cent more than operating revenue. Employee expenses in 2014 increased by an average of 5.1 per cent and other expenses by 5.8 per cent.
Operating expenditure grew at a faster pace than operating revenue at six of the ten NSW universities.
Actions for Areas of focus from 2014
Areas of focus from 2014
Actions for Volume Ten 2013 focusing on Health
Volume Ten 2013 focusing on Health
Unqualified opinions were issued for all agencies audited in the following report.
Some of the reports findings include:
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Most cultural bodies rely heavily on government grants to fund services
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The Sydney Opera House Trust earns most of its revenue from commercial operations
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Less than half of the 2014-16 service agreements between HealthShare NSW and its customers have been signed. HealthShare NSW and health entities should finalise their 2014-2016 service agreements by no later than 31 January 2014
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Five service level agreements with NSW Health Pathology for 2012-13 were never signed. NSW Health Pathology and local health districts/speciality networks should finalise their 2013-14 service agreements by no later than 31 December 2013
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HealthShare NSW is committed to sharing internal audit findings across NSW Health
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The Ministry has started a long-term project to review its policy directives
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A recent review concluded the health sector has mature risk management practices
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When changes to the Aboriginal Land Rights Act 1983 occur, the Minister should identify and assess any risks from the changes and develop strategies to mitigate against them.
Actions for Volume Eight 2013 focusing on Transport and Ports
Volume Eight 2013 focusing on Transport and Ports
Unqualified audit opinions were issued on the above corporations’ 30 June 2013 financial statements. During the year, Treasury issued TC 13/01 ‘Mandatory early close procedures for 2013’. This Circular aimed to improve the quality and timeliness of agencies’ annual financial statements. In 2012-13, application of the circular was made mandatory for State owned corporations. As a result, the port corporations were required to perform the early close procedures. All the port corporations were successful in performing the procedures, which helped them submit financial statements by an earlier due date. The early close procedures also resulted in general improvements to the quality of most financial statements.
The report recommends all transport entities should do more to reduce excessive annual leave balances to ensure they will comply with new targets set by the Premier, RailCorp, Sydney Trains and NSW Trains should minimise the amount of overtime bonuses paid to train drivers and that Transport for NSW should set targets to measure the overall satisfaction of train users.
Actions for Volume Two 2013 focusing on Universities
Volume Two 2013 focusing on Universities
Except for the matters noted, the Members we reviewed substantially complied with the requirements of the Parliamentary Remuneration Tribunal’s Determination (the PRT Determination) for the year ended 30 June 2012.
The review identified the following material exceptions:
- nine Member claims were not submitted for payment within 60 days of receipt or occurrence of the expense
- eight Members did not return their unspent Sydney Allowance amounts by 30 September 2012
- sixteen Members did not complete an annual declaration stating the benefits accrued by way of loyalty/incentive schemes, as a consequence of using their allowance and entitlements, were used only for Parliamentary duties and not for private purposes.
There are inherent limitations in undertaking an engagement of this nature. The work was conducted as a review engagement, not an audit. Consequently, the procedures were not designed to detect all instances of non-compliance. The review provides limited assurance and expresses our conclusion about whether the Members reviewed complied with the PRT Determination’s requirements for Member entitlements.
Actions for Volume Nine 2010 focus on Transport, Planning and Industry
Volume Nine 2010 focus on Transport, Planning and Industry
The report includes comments on his financial audits of NSW Government transport, planning and industry agencies for 2009-10. A key recommendation from the report is that the New South Wales Government identify lessons learnt from the metro experience and ensure that future decision processes are developed to ensure the State never again expends such a large amount of scarce transport funding dollars and valuable time on a project that does not proceed.
Actions for Volume Five 2010 focus on Public Financing Enterprises
Volume Five 2010 focus on Public Financing Enterprises
The report includes comments on NSW Treasury and agencies in the finance and superannuation sectors. The New South Wales public sector superannuation funds’ investments were $42.2 billion at 30 June 2010, up from $38.5 billion in 2009. Investment returns reached 14.5 per cent in 2009-10. This is a significant improvement on the investment returns of up to negative 18.4 per cent at the peak of the global financial crisis in 2008.
Actions for Volume Two 2010 focus on Universities
Volume Two 2010 focus on Universities
New South Wales’ ten universities recorded a combined operating surplus of $494 million compared to a deficit of $76.9 million last year, reflecting the improvement in global financial markets. This was largely due to investment gains of $38.0 million in 2009 compared to $405 million of losses in 2008. Despite this, financial risks remain for universities. With the recovery in global financial markets remaining fragile, universities with overseas operations and those needing to fund capital works programs, are at most risk. Capital funding is estimated at $2.0 billion for 2010 and 2011.
Actions for Volume One 2010
Volume One 2010
The report includes comments on his annual audit of entitlements paid to Members of NSW Parliament and financial audits of WorkCover, Justice Health, Waste Recycling Processing Corporation and some other NSW Government agencies.
In his audit the Auditor-General had called for a system to be developed to ensure accrued loyalty/reward benefits are used to reduce Members’ parliamentary business travel expenditure, rather than be forfeited when a Member leaves Parliament. He also called for better controls over the Logistic Support Allocation used for transport, communications, printing, stationery, office supplies and equipment.