Appointing the right members to a council’s audit committee allows for informed, effective oversight.
For many entities, disclosure about the impacts of COVID-19 in this year’s financial report and annual report will be a key point of difference compared to previous years.
COVID-19 has affected the cash flows of many public sector entities. Their ability to earn revenue may have decreased, potentially permanently, and they are implementing cost reduction strategies.
Health service planning aims to improve service delivery to better meet the health needs of the population. It is future orientated and usually adopts a medium- to long-term (10–15 years) perspective.
Improving housing affordability, reducing homelessness, and assisting Queenslanders to access the private housing market remain key priorities of the Queensland Government.
In response to the Queensland Child Protection Commission of Inquiry, the Queensland Government is implementing a new child and family support system over the next 10 years. It is intended to have a greater focus on supporting families in providing a safe and secure home for their children.
Audit committees are an important part of the governance framework of public sector entities. They are mandatory for all government departments and are encouraged for other public sector entities.
Responsibility for the management of taxation and royalties within Queensland Treasury rests with the Office of State Revenue. For the 2017–18 financial year, Queensland Treasury recognised revenue of $10.8 billion from taxation and $4.3 billion from royalties.