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Our performance - the year in review

Output: Government-owned corporations performance and governance

Output: Government-owned corporations performance and governance
Strategic business priorities Highlights The year ahead

Assist shareholding Ministers in setting performance targets for GOCs.

Supported shareholding Ministers in finalising performance agreements with GOCs.

Collected dividends and tax equivalents from GOCs of $982 million to fund Government services.

Collect $938 million in forecast revenue to fund Government services.

Finalise statements of corporate intent with GOCs in accordance with legislative timeframes.

Provide clear guidance on the State's risk tolerance and assess the risks and returns faced by GOCs in pursuing business and investment strategies.

Assessed 23 GOC investment proposals to a total value of $2.1 billion.

Assess GOC capital programs to a total budgeted value of $3.6 billion.

Ensure GOCs comply with all relevant policies.

Conducted review of GOC corporate governance practices.

Completed review of GOC financial risk management policies.

Finalise corporate governance guidelines and work with GOCs to understand and apply the guidelines.

Financial summary
  2004-05 2003-04
State contribution $2.88M $2.61M
Other revenue $0.87M $0.35M
Full-time equivalent employees 23 24

Net assets - total GOC sector

Government-owned corporations performance and governance: graph showing net assets - total GOC sector for years 2000-01 to 2004-05.

Analysis: GOCs' net assets in the last financial year have grown by $2.3 billion.