The Auditor-General has published his annual report on the State Government’s financial statements, finding them to be reliable and in line with legislative requirements.
In his report, Queensland Government State Finances: 2018–19 Results of Financial Audits, Auditor-General, Brendan Worrall analysed the consolidated position of the Government and reported his audit results.
“We found that the Queensland Government financial statements, the Consolidated Fund Financial Report, the Public Report of Ministerial Expenses, and the Public Report of Office Expenses of the Office of the Leader of the Opposition, are reliable and comply with legislative requirements,” Mr Worrall said.
However, the audit found that Government expenses were increasing faster than revenue.
“The Queensland Government is now receiving less funding from the Australian Government from Goods and Services Tax grants,” he said.
“These grants are expected to further decline in 2019–20.”
The audit found infrastructure investment and debt levels were forecast to rise over the next four years in line with an expansive program of capital works.
“The delivery of major infrastructure projects, including Cross River Rail (pictured), needs to be closely monitored. Based on current forecasts, the increase in debt is sustainable but needs to be managed,” Mr Worrall said.
He said the Government might need to fund emerging obligations following recent court decisions and legal action, including class actions from the 2011 floods, and native title compensation claims.
The Auditor-General’s 31-page report can be accessed at this PS News link.
