Sound 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. Budget and Financial Policy Advice This output contributes to the Department’s objective of providing sound financial management of Victoria’s fiscal resources through the provision of strategic, timely and comprehensive analysis and advice to Ministers, Cabinet and Cabinet Sub Committees on: resource allocation; and departmental financial, output and asset delivery performance to support government in making decisions on the allocation of the State’s fiscal resources. This output assists government to deliver responsible budgets and operating surpluses which contributes to sound financial management. The output also provides management of Cost Control and Efficiency Reviews. Performance measures Unit of 201516 201516 Performance Result actual target variation (%) measure Quantity Cost Control and Efficiency Reviews (Funding number 1 3 66.7 Reviews) delivered The 201516 outcome is than the 201516 target due to the larger scale of reviews commenced. Quality Accuracy of the revised estimate of State budget per cent 0.5 0 ≤5.0 expenditure Maintain ISO 9001 (Quality Management per cent 100 100 0 Systems) Certification Timeliness Delivery of Cost Control and Efficiency Review per cent 100 100 0 reports within agreed timeframes Delivery of advice to Government on portfolio per cent 100 100 0 performance within agreed timeframes Cost Total output cost $ million 8.7 11.7 25.6 The 201516 outcome is lower than the 201516 target due to an internal restructure and the transfer of functions and employee expenses from this output. Financial Reporting This output contributes to the Department’s objective of providing sound financial management of Victoria’s fiscal resources by maintaining the integrity of systems and information for financial planning, management, monitoring and reporting of the State of Victoria through: publication of the State budget and budget related documents; reporting, monitoring and publication of financial and nonfinancial performance in the Victorian public sector; management of the Public Account operations; and best practice financial reporting framework, and whole of state management information systems, supporting financial reporting across the Victorian public sector.
Sound 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. Budget and Financial Policy Advice This output contributes to the Department’s objective of providing sound financial management of Victoria’s fiscal resources through the provision of strategic, timely and comprehensive analysis and advice to Ministers, Cabinet and Cabinet Sub Committees on: resource allocation; and departmental financial, output and asset delivery performance to support government in making decisions on the allocation of the State’s fiscal resources. This output assists government to deliver responsible budgets and operating surpluses which contributes to sound financial management. The output also provides management of Cost Control and Efficiency Reviews. Performance measures Unit of measure 201516 actual 201516 target Performance variation (%) Result Quantity Cost Control and Efficiency Reviews (Funding Reviews) delivered The 201516 outcome is than the 201516 target due to the larger scale of reviews commenced. number 1 3 66.7 Quality Accuracy of the revised estimate of State budget expenditure per cent 0.5 ≤5.0 0 Maintain ISO 9001 (Quality Management Systems) Certification per cent 100 100 0 Timeliness Delivery of Cost Control and Efficiency Review reports within agreed timeframes per cent 100 100 0 Delivery of advice to Government on portfolio performance within agreed timeframes per cent 100 100 0 Cost Total output cost The 201516 outcome is lower than the 201516 target due to an internal restructure and the transfer of functions and employee expenses from this output. $ million 8.7 11.7 25.6 Financial Reporting This output contributes to the Department’s objective of providing sound financial management of Victoria’s fiscal resources by maintaining the integrity of systems and information for financial planning, management, monitoring and reporting of the State of Victoria through: publication of the State budget and budget related documents; reporting, monitoring and publication of financial and nonfinancial performance in the Victorian public sector; management of the Public Account operations; and best practice financial reporting framework, and whole of state management information systems, supporting financial reporting across the Victorian public sector.
DTF-Annual-Report-2015-16.docx