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Annual Report 2005-06

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Government-owned corporations performance and governance output

Output: Government-owned corporations performance and governance

Strategic business priorities	Highlights	The year ahead
Assist shareholding Ministers in setting performance targets for Government-owned corporations (GOCs).	Supported shareholding Ministers in finalising Statements of Corporate Intent. Collected $961 million in dividends and tax equivalents from GOCs.	Collect $957 million in forecast revenue to fund Government services.
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 33 GOC investment proposals to a total value of $3.8 billion. Administered approximately $940 million in equity injections on behalf of shareholding Ministers to support large GOC capital expenditure programs. Supported the Government's comprehensive review of the Queensland energy GOC sector.	Assess GOC capital programs to a total budgeted value of $4.7 billion. Work with the Government's Retail Assets Sale Implementation Team and relevant GOCs to finalise implementation of the outcomes of the energy review.
Ensure GOCs comply with all relevant policies.	Finalised and implemented corporate governance guidelines for GOCs and worked with GOCs to apply these guidelines.	Progress work on proposed legislative amendments to enhance the GOC governance framework.

Financial summary

Financial summary for the Government-owned corporations performance and governance output

	2005-06	2004-05
State contribution	[1] $3.84M	$2.88M
Other revenue	[2] $2.27M	$0.87M
Full-time equivalent employees	[1] 40	23

1. 2005-06 includes economic modelling staff transferred to this output.

2. This increase in 2005-06 reflects the reimbursement of the energy review expenses incurred on behalf of energy GOCs.

Net assets - Government-owned corporations sector

Analysis: GOC net assets indicates the net value of all Queensland's GOCs, which grew by $0.7 billion in 2005-06.

Note: 2004-05 figures have been recast for the purposes of comparison in accordance with International Financial Reporting Standards which apply from 1 July 2005.

Last reviewed 2 October 2007

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