Search filters applied: transport, whole of government AND 2012, 2006, 2003 AND asset valuation, financial reporting, procurement .
Actions for Volume Ten 2012 Half-Yearly Review 2012-13 Engagement
The Treasurer has released the 2012-13 Half-Yearly review, which is essentially an update of projections published in the 2012-13 Budget Papers. We have reviewed the reasonableness of certain estimates and forecasts published within the Half-Yearly Review.
Actions for Volume Eight 2012 focusing on Transport and Ports
We issued unqualified audit opinions on the transport entities’ 30 June 2012 financial statements. Some of the findings of the report include: government funding to the public transport operators totalled $4.4 billion in 2011-12 ($3.7 billion in 2010-11) passenger services revenue only covered 20 per cent of RailCorp's operating costs Transport for NSW has formalised a protocol to mitigate the risk of potential conflicts of interests A
Actions for Volume Three 2012 focusing on New South Wales State Finances
A qualified audit opinion was issued on the Total State Sector Accounts for the year ended 30 June 2012. Qualified opinions have been issued every year for the past decade. The key issue contributing to past qualifications has been partially resolved, but new issues have arisen that impact the ability to confirm property, plant and equipment balances in 2011-12.
Actions for Condition of State Roads
The Roads and Traffic Authority (RTA) has improved the overall surface condition of State Roads in the last decade. Country road surfaces are now generally much better. Ride quality has improved and cracking has been reduced. The RTA has also achieved a substantial reduction in the number of structurally deficient bridges over the same period. Despite a significant increase in the State’s contribution to maintenance since 1999-2000, the RTA has deferre
Actions for The Cross City Tunnel Project
In our opinion the Government’s ‘no net cost to government’ requirement was a legitimate (but not the only possible) basis for the tunnel bid process. The Government was entitled to decide that tunnel users meet the tunnel costs. Structuring the bid process on the basis of an upfront reimbursement of costs incurred (or to be incurred) by the Roads and Traffic Authority (RTA) was therefore appropriate. In our opinion, however, the Government, Treasury an
Actions for The Millennium Train Project
State Rail has made significant improvements since the purchase of the Tangara. It improved measures necessary for handling contracts dealing with technically complex and innovative projects, although some other problems have been encountered, with new lessons to learn. The design and manufacture of new trains requires a significant investment in both time and cost. The Millennium Train has come at a considerably higher price than originally expected. An