The Queensland Treasury Annual Report 2019-2020 is an integral part of our corporate governance framework and one of the main tools we use to ensure we are accountable to the Queensland Parliament and the community about our activities.
These annual financial statement requirements include the Minimum Reporting Requirements and assist agencies in the preparation of their financial statements. The requirements provide updates on new and revised accounting policies and standards and additional guidance and advice on the application of such policies and standards.
Our strategic plan outlines how we will achieve our vision to grow the Queensland economy and improve the wellbeing of all Queenslanders.
It reflects our purpose to leverage our Government-wide perspective to provide trusted, impartial and influential advice and services to clients, and partner for better outcomes in matters relating to the economy and state finances, revenue and commercial services and support for fair, safe and productive workplaces.
The Deputy Premier and Treasurer, the Honourable Jackie Trad MP, delivered the Budget speech in Parliament on Tuesday 11 June 2019. The Queensland Government produces several documents to communicate the key elements of the State Budget. The suite of budget papers includes:
Government Owned Corporations (GOCs) need reporting and approval requirements for financial arrangements that facilitate the pursuit of commercial objectives. This Code of Practice outlines approval requirements and guidelines within which GOCs must operate in entering into financial arrangements. The Code applies to all GOCs declared under the GOC Act (except QIC Limited) and their subsidiaries.
The Guide for Board Appointments to Government Owned Corporations, Queensland Rail and Seqwater provides an outline of the processes undertaken in the appointment of independent, non-executive directors to Government commercial businesses.
The Cost of Capital Principles provide a framework for the calculation of cost of capital for Government Owned Corporations (GOCs).
Under the Company Financial Reporting in the Queensland Public Sector policy, public sector companies without their own websites must publish their statements on the site of their controlling entity. The following financial statements are for public sector companies controlled by Queensland Treasury.
The purpose of this policy is to provide guidance to departments on implementing a full cost pricing policy for significant business activities (SBAs) as required under National Competition Policy (NCP) and commercialised business units (CBUs) under the Queensland Government’s Financial and Performance Management Standard 2009.
This statement is provided as an adjunct to the Queensland Government’s July 1996 policy statement, Competitive Neutrality and Queensland Government Business Activities.
This paper outlines the application of the elements of the Competition Principles Agreement to Queensland Local Government and is based on two issues papers prepared by the joint State/Local Government NCP Working Group and feedback from councils and other major stakeholders.
The purpose of this statement is to outline the approach to be taken by the Queensland Government in applying the principle of competitive neutrality to its Significant Business Activities(SBAs). The statement fulfils the commitment of the Queensland Government, under the National Competition Policy(NCP) agreements (notably the Competition Principles Agreement), to publish such a statement by 30 June 1996.
This updated guidance clarifies the supplementary Key Management Personnel (KMP)-related remuneration disclosures that will continue to be required of GOCs beyond the requirements applied by AASB 124 for reporting periods beginning on or after 1 July 2013.
The follow information is intended as a guide, not a direction, on provisions GOC subsidiary Constitutions should contain. Adherence to the guide will facilitate shareholding Minister approvals relating to GOC subsidiaries.