Budget and financial management1
Fiscal coordination and budget strategy development2
|2019–20 Target/estimate||2019-20 End of financial year actual|
|Target ongoing reductions in Queensland’s relative debt burden, as measured by the General Government debt to revenue ratio3||64%||77%|
|Target net operating surpluses that ensure any new capital investment in the General Government Sector is funded primarily through recurrent revenues rather than borrowing (as measured by the General Government net operating cashflows as a proportion of purchases of net investments in non-financial assets)3||60%||..|
|The capital program will be managed to ensure a consistent flow of works to support jobs and the economy and reduce the risk of backlogs emerging3||$13,709 million4||$12,428 million4|
|Maintain competitive taxation by ensuring that General Government Sector own-source revenue remains at or below 8.5% of nominal gross state product, on average, across the forward estimates3||8.5%||8.2% (for 2019–20)|
|Target full funding of long-term liabilities such as superannuation and WorkCover in accordance with actuarial advice||Full funding||Met|
|Maintain a sustainable public service by ensuring that overall growth in full-time equivalent (FTE) employees, on average over the forward estimates, does not exceed population growth3||1.68%||2.2% (two year average growth to 2020–21)|
|Average cost per hour of advice and support output5||$131.18||$119.63|
Financial Provisioning Scheme6
2019-20 End of financial year actual
|Overall stakeholder experience in using processes associated with the Financial Provisioning Scheme5||Report actuals||100%|
|Administrative costs as a percentage of Fund revenue||Report actuals||4.20%|
- This is a new service area with services previously presented in the Economic and fiscal coordination and Commercial services areas in the 2019–20 SDS. The new service area, Budget and financial management, reflects the implementation of the new Treasury operating model.
- This service was previously presented under the Economic and fiscal coordination service area in the 2019–20 SDS. The service name has been changed to reflect the implementation of the new Treasury operating model.
- These measures are based on Government’s Fiscal Principles and typically reported on an Estimated Actual basis published as part of the annual State Budget. A 2019-20 Estimated Actual along with an update on the performance against the Fiscal Principles is published as part of the Treasurer’s COVID-19 Fiscal and Economic Review.
- The capital program measure reflects the inclusion of capital grants. The 2019-20 target is restated to include capital grants.
- The decrease between actual and budget is due to the impact of the government’s wage policy, less than expected direct recoverable charges associated with 1 William Street office accommodation and the reduction in corporate support costs, mainly relating to corporate staffing costs as a result of the government’s wage policy and the department’s FTE management strategies.
- This service was previously presented under the Commercial Services service area in the 2019-20 SDS. The change occurred to reflect the implementation of the new Treasury operating model.