applicants who Forecast: have an adjusted 85% combined gross annual income of not more than 140% of IBA’s income amount2. Percentage of Target: 90% 90% 90% 90% 90% loans to of applicants who Forecast: are first home 91% buyers Continued on next page. Performance 2015-16 2016-17 2017-18 2018-19 2019-20 Criteria Estimated Budget Forward Forward Forward Actual Estimate Estimate estimate Percentage of NA 96% 96% 96% 96% loans for home acquisitions3 Number of Target: 12 25 28 30 30 remote Forecast: 20 communities which IBA is actively facilitating home ownership opportunities Purposes To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and a substantial capital asset for the benefit of the Aboriginal and Torres Strait Islander peoples. To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. This is a new KPI introduced in 2016-17 to measure the aggregate volume of new loans. From 2016-17 IBA has adopted gross annual income” for this KPI. For joint applicants this “combined includes total income for both applicants (previously adjusted combined gross annual income was used which was 100% of the main income earner’s income and 50% of the secondary income earner’s income). This new performance indicator has been added in 2016-17 to report on new home ownership outcomes separately from loans made for ancillary home ownership outcomes. eg home renovations, repairs and maintenance and to refinance loans Continued on next page. Table 2.1.2: Performance criteria for Outcome 1 (continued) Program 1.3 The Business Development and Assistance Program plays an important role in the – development and growth of Aboriginal and Torres Strait Islander businesses through a range of assistance to Indigenous Australians to acquire, establish and grow their businesses successfully. This support includes access to expertise, supply chain opportunities, and finance for viable businesses. Delivery The program targets Indigenous persons and groups with aspirations for advancement and will be delivered by: Providing business loans.
applicants who have an adjusted combined gross annual income of not more than 140% of IBA’s income amount2. Forecast: 85% Percentage of loans to applicants who are first home buyers Target: 90% of Forecast: 91% 90% 90% 90% 90% Continued on next page. Performance Criteria 2015-16 Estimated Actual 2016-17 Budget 2017-18 Forward Estimate 2018-19 Forward Estimate 2019-20 Forward estimate Percentage of loans for home acquisitions3 NA 96% 96% 96% 96% Number of remote communities which IBA is actively facilitating home ownership opportunities Target: 12 Forecast: 20 25 28 30 30 Purposes To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and a substantial capital asset for the benefit of the Aboriginal and Torres Strait Islander peoples. To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. This is a new KPI introduced in 2016-17 to measure the aggregate volume of new loans. From 2016-17 IBA has adopted “combined gross annual income” for this KPI. For joint applicants this includes total income for both applicants (previously adjusted combined gross annual income was used which was 100% of the main income earner’s income and 50% of the secondary income earner’s income). This new performance indicator has been added in 2016-17 to report on new home ownership outcomes separately from loans made for ancillary home ownership outcomes. eg home renovations, repairs and maintenance and to refinance loans Continued on next page. Table 2.1.2: Performance criteria for Outcome 1 (continued) Program 1.3 – The Business Development and Assistance Program plays an important role in the development and growth of Aboriginal and Torres Strait Islander businesses through a range of assistance to Indigenous Australians to acquire, establish and grow their businesses successfully. This support includes access to expertise, supply chain opportunities, and finance for viable businesses. Delivery The program targets Indigenous persons and groups with aspirations for advancement and will be delivered by: Providing business loans.
2016-17-pmc-portfolio-budget-statements.docx