Preliminaries and Introduction


© Commonwealth of Australia 2003

Office of the Secretary
11 October, 2003

The Hon Peter Costello, MP
Parliament House

Dear Treasurer

I have pleasure in presenting to you the Annual Report of the Treasury for the year ended 30 June 2003. The Report has been prepared under section 63 of the Public Service Act 1999. Subsection 63 (1) of the Act requires that a Secretary of a Department is to provide a copy of the report to their Agency Minister for presentation to the Parliament.

As provided in subsection 63 (2) of the Act, the Report has been prepared in accordance with guidelines approved on behalf of the Parliament by the Joint Committee of Public Accounts and Audit. These guidelines provide that a copy of the Annual Report is to be laid before each House of the Parliament on or before 31 October.

Yours sincerely


Ken Henry
Secretary to the Treasury


Langton Crescent, PARKES ACT 2600 · Telephone: (02) 6263 3738 · Facsimile: (02) 6263 3360

Table of Contents


Index of compliance

Letter of transmittal
Aids to access

Table of contents
Index of compliance
Introduction and guide to the report
Acronyms and Glossary
Alphabetical index
Contact details
Secretary's review

Part 1: Departmental overview

Part 2: Treasury's report on performance

Part 4: Management and accountability

Corporate governance
External scrutiny
Management of human resources
Assets management
Consultants and competitive tendering and contracting
Commonwealth disability strategy

Part 5: Financial statements

Part 6: Other information

Occupational health and safety
Freedom of information
Advertising and market research
Ecologically sustainable development and environmental performance
Discretionary grants


Figures in tables and generally in the text have been rounded. Discrepancies in tables between totals and sums of components are due to rounding.

Introduction and guide to the report

The 2002-03 Treasury Annual Report outlines performance against outcomes, outputs and performance information contained in the 2002-03 Portfolio Budget Statements.

The 2002-03 Annual Report of the Treasury includes the reporting requirements and financial accounts for the Royal Australian Mint, Australian Government Actuary, Foreign Investment Review Board and Axiss Australia. The financial accounts for the Takeovers Panel are included in this report, however, the performance reporting does not extend to the activities of the Takeovers Panel. The Takeovers Panel publishes its own annual report.

Part 1 of this report includes an overview of major outcomes during 2002-03, and outlines changes in the organisation and senior management structure of the department and other significant management initiatives undertaken over the course of the year. Charts included in Part 1 depict the Treasury portfolio and departmental outcome and output structures, and the Treasury top management structure.

Part 2 of the report provides an analysis of performance against Treasury's policy outcomes. A review of Corporate Services Division performance is also provided in Part 2.

Part 3 reports on management and accountability issues as required under the Annual Report Guidelines.

Part 4 presents the audited financial status of the department as required under the Annual Report Guidelines.

Part 5 of the report includes other statistical information required under the Annual Report Guidelines.

The report concludes with a list of abbreviations and acronyms and an index to the report and its appendices.

Other sources of information

Treasury releases information on its activities through many publications, press releases, speeches and reports including the Annual Report. Copies of all Treasury publications are available on our website at


The contact officer to whom enquiries regarding this report may be directed is:

The General Manager
Corporate Services Division
The Treasury
Telephone: (02) 6263 3911
Fax: (02) 6263 2948

A copy of this document can be located on the Treasury website at: