Victorian Budget 2017/18 · 2017-06-05 · 2 June 2017 Victorian Budget 2017/18 ... Portfolio...
Transcript of Victorian Budget 2017/18 · 2017-06-05 · 2 June 2017 Victorian Budget 2017/18 ... Portfolio...
Robin Scott MPMinister for Finance2 June 2017
Victorian Budget 2017/18
Public Accounts and Estimates Committee –2017-18 Budget Estimates hearing
Minister for Finance responsibilities
• Whole of government Financial Management and Risk Management Frameworks
• Oversight of Essential Services Commission and VMIA• Victorian Government Purchasing Board• Land, property and Crown Land • WorkSafe and TAC• Government vehicle fleet• Emergency Services and State Superannuation• Regulation of Housing Agencies• DataVic and Government Intellectual Property• CenITex governance• Shared Service Provider
Portfolio highlights - Finance
• Amendments to the Financial Management Act 1994
• Greener Government Buildings program
• New Supplier Code of conduct from 1 July 2017
WorkSafe Victoria financial performance
30%
40%
50%
60%
70%
80%
90%
100%
110%
120%
130%
140%
150%
160%
170%
‐1500
‐1000
‐500
0
500
1000
1500
Jun‐06 Jun‐07 Jun‐08 Jun‐09 Jun‐10 Jun‐11 Jun‐12 Jun‐13 Jun‐14 Jun‐15 Jun‐16
PFIO ($M) NRAT ($M) Actuarial Release ($M) Funding Ratio (RHS) Economic Funding Ratio (RHS)
WorkSafe Victoria – OHS performance
In Victorian workplaces the number of claims per million hours continues to decrease.
In 2015-16:
• 46 259 inspector visits• 32 workplace fatalities
Improving workplace safety and wellbeing
• Quad bikes rebate scheme• WorkHealth program
TAC financial performance
40
60
80
100
120
140
160
-1200
-1000
-800
-600
-400
-200
0
200
400
600
800
1000
1200
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
per c
ent
$ m
illio
n
PFIO NRAT Accounting Funding Ratio Economic Funding Ratio
TAC initiatives
Residential Independence Pty Ltd
Recovery card
VMIA financial performance
0
50
100
150
200
-400
-300
-200
-100
0
100
200
300
400
500
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
per c
ent
$ m
illio
n
PFIO Net Result Accounting Funding Ratio Economic Funding Ratio
VMIA – PRactical Obstetric Multi-Professional Training (PROMPT)
Superannuation liability
-
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
-
5
10
15
20
25
30
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Top-
up p
aym
ents
($bi
llion
)
Supe
rann
uatio
n lia
bilit
y ($
bill
ion)
Liability on a Reporting Basis (left axis)
Liability on a Funding Basis(left axis)
Top-Up Payments (right axis)
© State of Victoria 2017
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