Estimates Replies

Mining Services Centre of Excellence

In reply to Mr VAN HOLST PELLEKAAN (Stuart) (17 July 2014). (Estimates Committee B)

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business):

1. I am advised, the forward allocation breakdown for 2014-15 is $3 million, 2015-16 is $2 million, 2016-17 is $2 milion and 2017-18 is $1 million, with the addition of the 2013-14 $2 million allocation, bringing the total budgeted initiative to $10 million over five years.

2. I am advised this increase is due to the following:

Increased activity levels due largely to additional revenue from the full year implementation of the Petroleum Retention Licence scheme which increases revenue by approximately $2.3 million, partially offset by reduced activity levels under the Mining Act including the partial surrender of a material retention lease.

Increased revenue of $0.5 million due to the annual indexation at CPI on all regulated fees under acts administered by the department.

Therefore, the increase in the forecast revenue from regulated fees and charges is explained by volume level increases of $1.3 million and price level increases of $0.5 million from annual CPI adjustment of regulated fees.