Government Businesses 2017-18

About this report

Report of the Auditor-General No. 4 of 2018-19

Auditor-General’s Report on the Financial Statements of State entities

Volume 2

Government Businesses 2017-18

Tasmanian Government businesses offered a diverse range of services ranging from essential utilities such as transport and electricity, to irrigation and financial services. Government businesses were expected to deliver services at the lowest sustainable cost, while also providing an appropriate financial return to the government in the form of dividends, income tax equivalents and guarantee fees.

Government businesses operated outside the Public Account, principally on the basis of funds derived through operations and generally had no direct impact on Budget expenditure except in circumstances where funding for Community Service Obligations (CSOs) was received, or payment was received for services provided to government agencies.

The Report contains individual Chapters on each of the 17 Government businesses. For 2017‑18, each Chapter includes some infographics that provide a snapshot of key data or statistical information applicable to the entity.

STATE ENTITIES COVERED IN THE REPORT

This Report contains the results from our financial audits of 17 entities and two subsidiaries in the government business sector:

Government Business Enterprises:

  • Sustainable Timber Tasmania (STT)
  • Hydro-Electric Corporation (Hydro)
  • Motor Accidents Insurance Board (MAIB)
  • Port Arthur Historic Management Authority (PAHSMA)
  • Public Trustee (PT)
  • Tasmanian Public Finance Corporation (Tascorp)

State-Owned Companies:

  • Aurora Energy Pty Ltd (Aurora Energy)
  • Metro Tasmania Pty Ltd (Metro)
  • Tasmanian Irrigation Pty Ltd (Tasmanian Irrigation)
  • Tasmanian Networks Pty Ltd (TasNetworks)
  • Tasmanian Ports Corporation Pty Ltd (TasPorts)
  • Tasmanian Railway Pty Ltd (TasRail)
  • Tasracing Pty Ltd (Tasracing)
  • TT-Line Company Pty Ltd (TT-Line)

Public Non-Financial Corporations:

  • Macquarie Point Development Corporation (MPDC)
  • Private Forests Tasmania (PFT)

Subsidiaries:

  • Momentum Energy Pty Ltd (Momentum Energy)
  • Bass Island Line Pty Ltd

Council Owned Entity:

  • Tasmanian Water and Sewerage Corporation Pty Ltd (TasWater)

 

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