improvements to productivity and workplace reform’ has been discontinued as primary responsibility for the Industrial Relations function has moved to the Department of Economic Development, Jobs, Transport and Resources. DTF retains responsibility for the application of the wages policy however, and this function is part of the Financial and Resource Management Frameworks Maintenance and Support output in 201516. On 18 January 2015, the Victorian Government announced the abolition of the Construction Code Compliance Unit. The objective indicator ‘Increased engagement with industry to enable improved compliance and productivity in the Victorian construction industry’ has been discontinued as it is no longer relevant. This function was part of the Land and Infrastructure Investment Management output. Changes to outputs are reflected in the below. 201415 departmental objective 201415 output Reason for change Guide government actions to increase Victoria’s productivity and competitiveness Business Environment Policy Advice This output has been transferred to the Department of Premier and Cabinet as a result of machinery of government changes. Sound financial management of Victoria’s fiscal resources Budget and Financial Policy Advice The Workplace Relations function and its performance measures transferred to the Department of Economic Development, Jobs, Transport and Resources due to machinery of government changes effective 1 January 2015. Departmental objectives, indicators and outputs The Department’s objectives, associated indicators, and linked outputs as set out in the 201415 Budget Paper No. 3 Service Delivery are shown below. Departmental objective Indicators Outputs financial management of Victoria’s fiscal resources The Department of Treasury and Finance has a central role in shaping Victoria’s economic, social and fiscal policy to ensure that Government financial policies are fiscally sound. Demonstrate strong fiscal discipline by maintaining an annual budget surplus of at $100 million.(a) General government net debt reduced as a percentage of GSP over the decade to 2022.(a) Effective financial risk management and prudential supervision of public financial corporations and public nonfinancial corporations. Financial and Resource Management Frameworks Budget and Financial Policy Advice Financial Reporting GBE Performance Monitoring and Financial Risk Management Revenue Management Services to Government Guide government actions to increase Victoria’s productivity and competitiveness The Department of Treasury and Finance provides Government with advice on key economic and financial issues, including longer term economic development, regulation, financial strategy and taxation policy. Reduce regulatory burden by 25 per cent by 2014. Reduce the costs and barriers to doing business in Victoria. Economic and Financial Policy Economic Regulatory Services
The outcome is than the target as the 2014 state election resulted in fewer briefs being prepared during the caretaker period. Quality Accuracy of estimating gross state product and employment in the State budget per cent =< 1.0 n/a 0.95 n/a 0 n/a The gross state product growth rate estimate is not yet available. The estimate will be available when the ABS State Accounts are released in November 2015. The accuracy of estimating employment growth in 201415 was 0.95 percentage points greater than forecast in the 201415 Budget. Accuracy of estimating State taxation revenue in the State budget per cent =< 5.0 1.9 0 Maintain ISO 9001 (Quality Management Systems) Certification per cent 100 100 0 Timeliness Briefings on key Australian Bureau of Statistics economic data on day of release per cent 100 100 0 Longterm research projects managed within agreed timeframes per cent 100 100 0 Meet financial reporting deadlines per cent 100 100 0 Respond to correspondence within agreed timeframes per cent 85 89 4.7 Cost Total output cost $ million 17.2 17.4 1.2 Economic Regulatory Services This output provides economic regulation of utilities and other specified markets in Victoria to protect the longterm interests of Victorian consumers with regard to price, quality and reliability of essential services. By providing these services, this output contributes to the departmental objective of guiding government actions to increase Victoria’s productivity and competitiveness. Major outputs/deliverables Performance measures Unit of measure 201415 target 201415 actual Performance variation (%) Result Quantity New or revised regulatory instruments issued number 6 6 0 Performance reports for regulated businesses or industries number 4 4 0 Performance reviews and compliance audits of regulated businesses number 102 103 1 Price approvals of regulated businesses number 19 20 5.3 The outcome is higher than the target as a delayed review from 201314 was completed in 201415. Registration and accreditation decisions/approvals in relation to the Victorian Energy Efficiency Target Scheme number 3 000 5 578 85.9
Style conventions Figures in the tables and in the text have been rounded. Discrepancies in tables between totals and sums of components reflect rounding. Percentage variations in all tables are based on the underlying unrounded amounts. The notation used in the tables is as follows: .. or – zero, or rounded to zero 1 billion 1 000 million 200x year period 200x0x year period n/a not available or not applicable (xxx.x) negative numbers Financial statements Contents
Financial Management Act 1994 Section 29 Section 30 Section 32 Section 35 Parliamentary authority Appropriations applied Variance $’000 $’000 $’000 $’000 $’000 $’000 $’000 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 8 583 7 363 – 4 625 1 921 3 775 263 056 257 799 250 713 254 827 12 343 2 972 – (23 625) 2 757 741 27 184 3 703 5 000 – 22 184 3 703 – 19 000 2 600 898 – 24 320 1 755 823 1 883 874 1 746 568 1 880 349 9 255 3 525 8 583 7 363 – – 7 278 5 414 – 24 320 2 046 063 2 145 376 2 002 281 2 135 176 43 782 10 200
Appendix 4 Community Support Fund The Community Support Fund (CSF) is a trust fund which directs a portion of gaming revenue back into the community. It was established in 1991 and is governed by the Gambling Regulation Act 2003. As prescribed by the legislation, the CSF receives revenue generated from electronic gaming machines in hotels less $45 million which is retained in the Consolidated Fund each year to support government priorities. Any interest earned on the balance of the trust fund is retained by the CSF. In 201415, the CSF received $97.5 million revenue. The Government can allocate funding from the CSF to a range of initiatives, which are administered by departments. Funded initiatives must be consistent with the purposes of the legislation. Programs that tackle problem gambling are the first call on funds from the CSF. The Victorian Responsible Gambling Foundation Act 2011 gives effect to the Government’s problem gambling policy. This legislation provides the basis on which funds will be transferred from the CSF to the Responsible Gambling Fund to reduce the prevalence and severity of gambling related harm and foster responsible gambling behaviour. The CSF can also fund: drug education, treatment and rehabilitation; financial counselling and support for families in crisis; youth programs; sport and recreation; arts and tourism; community support or advancement; and costs associated with administering the CSF. The funds provided to departments are generally used to provide grants to a wide range of communitybased organisations and councils, supporting them to build strong and sustainable communities. The legislation also provides for the payment of one day’s revenue from the CSF to the Victorian Veterans Fund. A total of $110.2 million was paid out of the CSF in 201415. The administration of the CSF forms part of the audited accounts of the Department. For more information in relation to the CSF please refer to . Programs approved from 1 July 2014 to 30 June 2015 Program name Portfolio $ Victorian Responsible Gambling Foundation Gaming 148 000 000 Precommitment Information program Gaming 2 000 000 Foodbank Human Services 480 000 Children and youth area partnerships Human Services 1 300 000 Local facilities for local clubs and Recreation 1 000 000 Strategic sporting infrastructure program Sport and Recreation 825 000 Total program approvals 153 605 000 Note: The list above shows total funding approved for each program in the 201415 financial year. Expenditure will occur in future years.