FINANCIAL DATA COLLECTION

256 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (23 October 2007). With respect to 2007-08 Budget Paper 4 Volume 1—page 3.10:

(a) what issues are still existing in the timeliness and accuracy of financial data collection and reporting as mentioned in sub program 1.1; and

(b) which agencies are continuing to experience issues and why?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations):

(a) The Department of Treasury and Finance (DTF) made significant process improvements targeted at reducing the preparation time of South Australia’s annual consolidated financial reports.

Both the 2006-07 Final Budget Outcome and the 2006-07 Consolidated Financial Report were published in December 2007.

DTF’s targeted efforts helped to ensure that the data submitted to DTF for the 2006-07 reports was of a far better quality than that submitted in previous years.

(b) There are no significant ongoing financial reporting issues in agencies that impact on the consolidated financial statements produced by DTF. DTF supports financial management and reporting in agencies by providing information forums, training seminars and site visits. These support mechanisms will continue into the future. DTF continues to focus on assuring the quality of financial information provided by agencies by reviewing data collection processes and applying robust integrity checks to agency financials.