PUBLIC SECTOR FUNDS MANAGEMENT

70 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (30 September 2008). What is the current status of the implementation of the framework for a centralised funds management model for the South Australian public sector?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I am advised that a review of funds management arrangements within the South Australian public sector has been undertaken.

The review recommended centralising public sector funds management in South Australia.

Legislation to establish a centralised funds management framework for the South Australian public sector has been drafted and circulated to relevant stakeholders for comment.

In the interim, with the changes to Funds SA's legislation in 2005 allowing Funds SA to accept funds from non-superannuation public sector agencies, such agencies with funds management requirements are being encouraged to use Funds SA as their investment manager.

Any centralised model would use the current infrastructure of Funds SA as its base.