Central FINANCING Unit

EXPENSES ON BEHALF OF THE TERRITORY
PRINCIPAL MEASURES	
EBT 1:  CENTRAL FINANCING UNIT	
Description:		Management of the investment and borrowing activities of the ACT Government.	

Measures 	2004-05
Targets	2004-05
Estimated Outcome	
Quantity			
Monitor and review the Debt Portfolio. 	4	4	
Monitor and review the investment performance of the general government investment funds.
	4
	4
	
Quality/Effectiveness			
Average duration of actual debt portfolio1	 2.5 years and  3.5 years	1 year	
Ratio of average investment earnings rate divided by the established benchmark.
	1
	1
	
Timeliness			
Debt portfolio performance reported quarterly by the 15th business day after the end of the quarter.	100%	100%	
Investment portfolio performance reported quarterly by the 15th business day after the end of the quarter.	100%	100%	
			
TOTAL COST ($’000)	$2  418  920.0	$2  396  953.0	
EXPENSE ON BEHALF OF THE TERRITORY ($’000) 	$11  686.0	$11  331.0	
Notes
1.	The approved duration policy is to target 3 years, however the actual duration range is ±0.5 years around 3 years.  Debt portfolio restructuring options to align portfolio with the benchmark are still being considered.