Northern Territory Auditor-General's Office, February 2023 Report to the Legislative Assembly
Tabled Paper 772
Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT
2023-02-14
Tabled by the Speaker
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
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Tabled papers
Legislative Assembly of the Northern Territory
Darwin
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Legislative Assembly of the Northern Territory
https://www.legislation.gov.au/Details/C2019C00042
https://hdl.handle.net/10070/898837
https://hdl.handle.net/10070/898851
Auditor-General for the Northern Territory February 2023 Report Page 54 of 131 Local Jobs Fund cont Leveraging private sector investment The Fund will leverage private sector investment in the Territory. This will occur: Directly through the transactions undertaken by the Fund, which will leverage private sector financing and investment in new projects and businesses. Indirectly through increased investment by the private sector to support Projects facilitated by the Fund. For example, suppliers investing in new assets to provide services for new projects and businesses. A performance management system audit on the Fund was undertaken through my Office in 2019. The audit was performed during the period from February 2019 to June 2019 and covered the period from December 2018 to April 2019. The primary objective of the 2019 audit was to assess the systems and processes in place to support the establishment and management of products offered through the Local Jobs Fund. The 2019 audit was conducted in the early stage of implementation the Fund. The final management letter reported At the time of my audit, a number of documents had been drafted to support the delivery of the products offered through the Local Jobs Fund however the systems and processes intended to manage the products offered through the Local Jobs Fund had not been fully designed or implemented. I acknowledge that no agreements or transactions had been entered into at the time of the audit fieldwork. I also acknowledge that a number of recommendations have been addressed between the completion of the audit fieldwork and the issue of this report to the Agency for comment. The audit conclusion stated: There are systems, processes and procedures (including the documentation thereof) that require implementation to ensure the products offered through the Local Jobs Fund are managed consistently, effectively, efficiently and economically in order to realise the intended objectives of the Local Jobs Fund. The findings were published in my November 2019 Report to the Legislative Assembly. Scope and objectives The objective of the performance management system audit was to assess the performance management systems in place at the Department of the Chief Minister and Cabinet (DCMC) that enable management to assess whether the objectives of the Local Jobs Fund (the Fund) are being delivered effectively, efficiently and with economy and in a way that will assist DCMC to achieve its stated outcomes. The stated objectives (outcomes) of the Fund are to: Create enduring employment opportunities for Territorians Increase the long term productive capacity of the Northern Territory economy Encourage private sector participation in the Northern Territory Receive a return on investment for the Northern Territory. The audit assessed the performance management systems in place during the period from April 2019 to December 2021.