FUNDS SA INSURANCE

395 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (17 November 2008). With respect to the report of the Auditor-General 2007-08—part B, volume 5, page 1275—What is the cost to Funds SA for insuring all major risks through SAICORP?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I have been advised that the cost to Funds SA for its insurance cover with SAICORP (based on the standard SAICORP SA Government Agency Agreement) for 2008-09 was $2,852.58 inclusive of all costs (ie. premium, stamp duty and GST). The comparable cost for the 2007-08 financial year was $2,775.07.