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Actions for Governance and internal controls over local infrastructure contributions
The Auditor-General for New South Wales, Margaret Crawford, released a report today on how well four councils managed their local infrastructure contributions during the 2017-18 and 2018-19 financial years. Local infrastructure contributions, also known as developer contributions, are collected from developers to pay for local infrastructure such as drainage, local roads, open space and community facilities. Controls over local infrastructure contribut
Actions for Volume Twelve 2015 Part One Trade & Investment and TAFE
Serious system limitations prevented TAFE NSW from providing sufficient and appropriate evidence to support recorded student revenue of $477 million, student receivables and accrued income of $47.6 million and unearned revenue of $398 million. These limitations resulted in: a qualified audit opinion being issued for TAFE NSW; delays in enrolling students; inability to fully reconcile cash balances; difficulties in reconciling student enrolments wi
Actions for Volume Twelve 2015 Part Two Water
The distributions to the NSW Government increased from $690 million in 2013-14 to $1.0 billion in 2014-15. The increase was largely due to a higher dividend from Sydney Water Corporation.
Actions for Volume Five 2015 Premier and Cabinet
Volume Five 2015 covered Premier and Cabinet agencies such as the Department of Premier and Cabinet, Office of Sport, Venues NSW, Barangaroo Delivery Authority and Infrastructure NSW.
Actions for Areas of focus from 2014
The 2014 audits showed that the quality and timeliness of financial reporting have continued to improve. However, many agencies do not have financial sustainability indicators that provide early warning of management issues, such as an inability to meet financial obligations. Weaknesses were identified in information security, management of leave balances, asset management and internal controls. Governance issues and gaps in performance information a
Actions for 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 proce
Actions for Volume Four 2013 focusing on Electricity
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 NSW Generators, Distributors and Transgrid were required to perform the early close procedures. All the electricity entities were broadly successful in performing th
Actions for Volume Eight 2011 Focus on Transport and Ports
The report includes comments on financial audits of government agencies in the Transport and Ports sectors. The audit of corporations’ financial statements for the year ended 30 June 2011 resulted in unmodified audit opinions within the Independent Auditor’s Reports. A key recommendation from the report is that Sydney Ports Corporation should continue working with other government authorities and industry stakeholders to improve the effectiveness of prog
Actions for Volume Six 2011 focus on Environment, Water and Regional Infrastructure
The Environment Protection Authority’s expenditure for the financial year 2010/11 was $92 million - $76 million of this was for environment protection and regulation. The Office of Environment and Heritage and the Environment Protection Authority commenced 145 prosecutions for environmental offences and 106 were completed in the financial year 2010/11, down from the 134 prosecutions completed in 2009/10. Financial penalties for 2010/11 totalled $969,000
Actions for Volume Four 2011 focusing on Electricity
The sale of the State’s electricity retail and trading rights raised $5.3 billion. The electricity retail businesses sold for a $3.08 billion profit with the electricity generation output sold for a $1.85 billion loss, delivering a overall profit of $1.23 billion. One recommendation is that The Treasurer should consider releasing the Energy Reform Strategy relating to the development and ownership of the Cobbora Coal Project for public scrutiny to ensur