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Annual Report 2006-07

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The year in review - 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.	Collect $1 billion in forecast revenue to fund Government services.
	Collected $1.8 billion in dividends and tax equivalents from GOCs.
Provide clear guidance on the State's risk tolerance and assess risks and returns faced by GOCs in pursuing business and investment strategies.	Assessed 42 GOC investment proposals to a total value of $2.3 billion.	Assess GOC capital programs to a total budgeted value of $4.6 billion.
	Administered approximately $540.3 million in equity injections on behalf of shareholding Ministers to support large capital expenditure programs.
	As part of the implementation of the outcomes of the energy GOC's Structural Review, the State realised gross proceeds of $3.1 billion from the sale of its energy retail assets.
Ensure GOCs comply with all relevant policies.	Made amendments to the Government Owned Corporations Act 1993 to simplify the legislative and administrative frameworks for GOC compliance.	Assist GOCs with the conversion process from statutory GOCs to company GOCs.

Financial summary

	2006-07	2005-06
State contribution	$4.85M	$3.84M
Other income	$0.26M	$2.27M
Full-time equivalent employees	38	40

Net assets - Government owned corporations sector

Analysis: Government owned corporation (GOC) net assets indicate the net value of all Queensland GOCs, which grew by $0.9 billion in 2006-07.

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 1 November 2007

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