SHARED SERVICES

In reply to Mr GRIFFITHS (Goyder) (25 June 2008).

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I have been provided the following information:

This is a financing transaction to provide for a transfer of leave liabilities within government from one agency to another. It is a contingency to ensure that agencies have sufficient cash on hand to be able to transfer the equivalent value of the employee entitlements, such as long service leave, when these employees transfer from the agency to Shared Services SA.

There is no budget impact from these transfers and there is no change to the expenditure from transferring these liabilities between government agencies. The full value of these liabilities is already recognised in the balance sheet of the agencies in which employees currently reside.