public accounts and estimates committee · victorian budget 2014|15 the hon. gordon rich -phillips...
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Victorian Budget 2014|15
The Hon. Gordon Rich-Phillips MLC Assistant Treasurer
Friday 23 May, 2014
Public Accounts and Estimates Committee 2014-15 Budget Estimates Hearing
• Workplace Accident Compensation and Rehabilitation; • Occupational Health and Safety; • Transport Accident Compensation and Rehabilitation; • Government’s motor vehicle fleet; • Victorian Government Purchasing Board; • Acquisition, reuse or disposal of Victorian Government land
and property; • WoVG accommodation planning and policies; • Superannuation policy for the State; • Regulation of Victoria’s registered housing agencies; and • WoVG DataVic Access Policy and Intellectual Property Policy
Core responsibilities – Assistant Treasurer
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Department of Treasury and Finance outputs: • Budget and Financial Policy Advice • Economic and Financial Policy • GBE Performance Monitoring and Financial Risk Management • Resource Management Services to Government • Land and Infrastructure Investment Management
Statutory Authorities: • Victorian WorkCover Authority (VWA) • Transport Accident Commission (TAC) • Emergency Services Superannuation Scheme (ESSS)
Core responsibilities – Assistant Treasurer
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60.0%
70.0%
80.0%
90.0%
100.0%
110.0%
120.0%
130.0%
140.0%
(1,500.0)
(1,000.0)
(500.0)
-
500.0
1,000.0
1,500.0
Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13
PFIO ($m) NRAT ($m) Actuarial Release Funding Ratio (RHS)
Victorian WorkCover Authority
Financial Performance
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Victorian WorkCover Authority
5
OHS Performance
Victorian WorkCover Authority
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OHS Performance - reported claims
30,489 30,327
28,856 29,107
28,689 28,854
29,628 29,261
28,003
2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13
Victorian WorkCover Authority VWA Premium Rates Over the Last Decade
2.22%
2.00%
1.80%
1.62%
1.46% 1.387% 1.387% 1.338% 1.338% 1.298% 1.298%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14
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Victorian WorkCover Authority
2.75%
2.36%
1.82%
1.668%
1.55% 1.45%
1.298%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
SA 13/14 Tas 13/14 ComCare 13/14 WA 13/14 NSW 13/14 QLD 13/14 VIC 13/14
Comparison of average Australian Premium Rates
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Transport Accident Commission Financial Performance
70%
80%
90%
100%
110%
120%
-1,200
-1,000
-800
-600
-400
-200
0
200
400
600
800
1,000
1,200
2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13
TAC PERFORMANCE
PFIO $M NRAT $M Actuarial Release $M Funding Ratio % (RHS)
$M
9 9
The Victorian Road Toll
Transport Accident Commission
10 10
Enhanced Crash Investigation Study
Transport Accident Commission
11 11
Emergency Services and State Super Financial Performance as at 30 June 2013
Year to 30 June 2012 Year to 30 June 2013
Total Net Assets $16 774 million
$19 087 million
Members’ accrued benefits $33 002 million
$33 987 million
Funding Ratio ES DB 100 per cent 108 per cent
Funding Ratio SSF 36.2 per cent 39.4 per cent
Investment Returns ES DB 3.0 per cent 14.5 per cent
Investment Returns SSF 1.9 per cent 15.8 per cent
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VicFleet • Realised benefits • Cost of fleet • Fleet safety
Procurement • WoVG contracts • The Victorian Government Purchasing Board
Government Services
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2013-14 2014-15
Q1 – Staffing Services OA* – (July 2013) Probity OA – (Sep 2013) Q2 – Fleet Disposal OA – (Nov 2013) Print OA – (Nov 2013) Stationery OA – (Aug 2013) Electricity <160kWh – Extension Q3 – Post - New Contract – (Jan 2014) Financial Advisory Services OA – (Feb
2014) Fuel OA - (Feb 2014) Gas OA - (Feb 2014) Tax OA - (Feb 2014) Document Exchange BC^ – (Mar 2014) Q4 – Real Estate Facilities Management - New
Contract – (Apr 2014) Elec >160 kWh OA – (to be completed
Jun 2014)
Q1 – Financial Advisory Services (Jul) Fuel (Jul) Print Management Services (Jul) Cash & Banking (Sep) Security Services (Sep) Q2 – Novated Leasing (Oct) Postal Services (Dec) Q3 – Natural Gas (Jan) Motor Vehicles Supply (Jan) Q4 – Probity services (Apr)
Strategic Sourcing Contract Reviews (BP3 Measure: Evaluation and decision on existing or potential whole of Victorian government contracts within agreed timelines
OA*: Opportunity Assessment, is preliminary analysis of options used to inform a future procurement strategy. BC^: Business Case, comprises a detailed analysis of options, including a risk assessment and cost / benefit justification, from which a strategy / plan is recommended.
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Accommodation • Portfolio size • Workplace density • Vacancy rates • Cost
Government Services cont.…
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• Superannuation • Land & Property • Better Financial Management Policy • Housing Registrar
Other/Departmental
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• DataVic Access Policy • Intellectual property (IP) policy • National Disability Insurance Scheme
Other/Departmental
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