South Australian Government Financing Authority

In reply to the Hon. S.C. MULLIGHAN (Lee) (28 July 2021). (Estimates Committee B)

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

This item reflects actual and budgeted indemnity payments made by the Administered Items of the Department of Treasury and Finance to SAFA for building indemnity insurance (SAFA Insurance Fund 3). The Treasurer indemnifies SAFA for the financial outcomes of the fund and the payments represent the extent to which insurance payouts exceed premium revenue in a year.

The 2021-22 budget of $0.618 million is an accounting estimate based on actuarial advice. The final amount paid in 2021-22 will be based on actual activity in 2021-22.