Performance measures Unit of 201516 201516 Performance Result measure actual target variation (%) Quality AuditorGeneral qualification relating to material number 0 0 0 weaknesses in financial reporting systems and processes for the State of Victoria Financial Report or Estimated Financial Statements While the 201415 Annual Financial Report received two qualifications from the Acting AuditorGeneral (and the Estimated Financial Statements were similarly qualified for the Education Asset balances) these did not relate to material weaknesses in DTF’s financial reporting systems and processes. Maintain ISO 9001 (Quality Management per cent 100 100 0 Systems) Certification Supporting the financial reporting framework per cent 81 80 1.3 across the VPS (survey data) Timeliness Annual Budget published by date agreed by date 27 Apr May16 0 Treasurer 2016 Budget Update, Financial Report for the State of per cent 71 100 29 Victoria, MidYear Financial Report, and Quarterly Financial Reports are transmitted by legislated timeline The 201516 outcome is lower than the 201516 target as the audited 201415 Financial Report (incorporating Quarterly Financial Report No. 4) could not be transmitted to Parliament by the legislated date of 15 October 2015. Cost Total output cost $ million 10.3 9.5 8.4 The 201516 outcome is higher than the 201516 target due to costs associated with improvements to the State’s financial reporting system SRIMS. Financial and Resource Management Frameworks Maintenance and Support This output develops and maintains cohesive financial and resource management frameworks that sound financial and resource management practices in the Victorian public sector (VPS). This includes enhancing key frameworks to drive performance, monitoring VPS entities’ compliance, and advising government and key stakeholders on financial and resource management and compliance issues. The output contributes to the Department’s objective of ensuring sound financial management of the State’s fiscal resources by: ensuring that financial and resource management frameworks are established and complied with; promoting continuous improvement in resource allocation and management through regular reviews and updates to ensure the frameworks represent good practice; and promoting awareness of financial management accountabilities and roles. Performance measures Unit of 201516 201516 Performance Result measure actual target variation (%) Quality Maintain ISO 9001 (Quality Management per cent 100 100 0 Systems) Certification
Performance measures Unit of measure 201516 actual 201516 target Performance variation (%) Result Quality AuditorGeneral qualification relating to material weaknesses in financial reporting systems and processes for the State of Victoria Financial Report or Estimated Financial Statements While the 201415 Annual Financial Report received two qualifications from the Acting AuditorGeneral (and the Estimated Financial Statements were similarly qualified for the Education Asset balances) these did not relate to material weaknesses in DTF’s financial reporting systems and processes. number 0 0 0 Maintain ISO 9001 (Quality Management Systems) Certification per cent 100 100 0 Supporting the financial reporting framework across the VPS (survey data) per cent 81 80 1.3 Timeliness Annual Budget published by date agreed by Treasurer date 27 Apr 2016 May16 0 Budget Update, Financial Report for the State of Victoria, MidYear Financial Report, and Quarterly Financial Reports are transmitted by legislated timeline The 201516 outcome is lower than the 201516 target as the audited 201415 Financial Report (incorporating Quarterly Financial Report No. 4) could not be transmitted to Parliament by the legislated date of 15 October 2015. per cent 71 100 29 Cost Total output cost The 201516 outcome is higher than the 201516 target due to costs associated with improvements to the State’s financial reporting system SRIMS. $ million 10.3 9.5 8.4 Financial and Resource Management Frameworks Maintenance and Support This output develops and maintains cohesive financial and resource management frameworks that sound financial and resource management practices in the Victorian public sector (VPS). This includes enhancing key frameworks to drive performance, monitoring VPS entities’ compliance, and advising government and key stakeholders on financial and resource management and compliance issues. The output contributes to the Department’s objective of ensuring sound financial management of the State’s fiscal resources by: ensuring that financial and resource management frameworks are established and complied with; promoting continuous improvement in resource allocation and management through regular reviews and updates to ensure the frameworks represent good practice; and promoting awareness of financial management accountabilities and roles. Performance measures Unit of measure 201516 actual 201516 target Performance variation (%) Result Quality Maintain ISO 9001 (Quality Management Systems) Certification per cent 100 100 0
DTF-Annual-Report-2015-16.docx