Auditor-General's Report

In reply to the Hon. J.A.W. GARDNER (Morialta—Deputy Leader of the Opposition) (30 October 2024).

The Hon. B.I. BOYER (Wright—Minister for Education, Training and Skills): I have been advised:

The revaluation of TAFE SA land and buildings in the 2023-24 financial year was undertaken for the purpose of TAFE SA complying with Australian Accounting Standards and Treasurer's Instructions.

The change in value by site is provided in the attached table. The movement was principally due to increases in the market value of land and increases in building construction costs that have occurred since the last valuation in 2019.

The property values reported in TAFE SA's financial statements are not used for determining property rates and taxes (including council rates and emergency services levy), as property rates and taxes generally apply values determined by the Valuer-General.

Revaluation by Property (year ended 30 June 2024)

Building