{ "entity_id": "S-QLD-045", "folder": "Queensland-Treasury-Corporation", "name": "Queensland Treasury Corporation", "type": "State-Owned Corporation", "jurisdiction": "QLD", "portfolio": "Treasurer", "website": "https://www.qtc.com.au/", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": true, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": false, "has_global_initiatives_text": false, "has_ideas": true, "has_artifacts": true, "n_ideas": 12, "n_legislation": 0, "n_artifacts": 9, "n_kpi_targets": 1, "n_kpi_results": 1, "n_outcomes": 2, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "To create value for all Queenslanders through our trusted financial expertise", "official_site_url": "https://www.qtc.com.au/", "source_documents": [ { "type": "annual_report", "title": "Download", "url": "https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "Download", "url": "https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "Download", "url": "https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "Download", "url": "https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf", "period": "2021-22", "confidence": "high" }, { "type": "annual_report", "title": "Download", "url": "https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf", "period": "2020-21", "confidence": "high" } ], "purpose": { "text": "To create value for all Queenslanders through our trusted financial expertise", "source_url": "", "source_page": 5, "source_deep_url": "" }, "vision": { "text": "To be a world-class financial partner of government", "source_url": "", "source_page": 7, "source_deep_url": "" }, "strategic_priorities": [ { "title": "Energy", "description": "Energy", "source_url": "", "source_page": 10, "source_deep_url": "" }, { "title": "Infrastructure", "description": "Infrastructure", "source_url": "", "source_page": 10, "source_deep_url": "" }, { "title": "Investment", "description": "Investment", "source_url": "", "source_page": 10, "source_deep_url": "" }, { "title": "Housing", "description": "Housing", "source_url": "", "source_page": 10, "source_deep_url": "" }, { "title": "Social services", "description": "Social services", "source_url": "", "source_page": 10, "source_deep_url": "" } ], "values": [ { "name": "Risk Mindset", "description": "", "source_url": "", "source_page": null }, { "name": "Integrity", "description": "", "source_url": "", "source_page": null }, { "name": "Accountability", "description": "", "source_url": "", "source_page": null }, { "name": "Creating Value for Queensland", "description": "", "source_url": "", "source_page": null }, { "name": "Growth", "description": "", "source_url": "", "source_page": null }, { "name": "Innovation and Excellence", "description": "", "source_url": "", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Achieving sustainable access to funding", "description": "QTC completed the State’s $26.9 billion 2024-25 indicative term debt borrowing program on 13 May 2025 ahead of schedule, and raised an additional $2.6 billion towards the 2025-26 program.", "activities": [ "Attracting a diversified investor base", "Offering a wide range of high-quality financial securities" ], "source_url": "", "source_page": 8, "source_deep_url": "" }, { "name": "Outcome 2: Creating value for the State and clients", "description": "In 2024–25, QTC supported Queensland Treasury and other key clients to create value for Queensland. This work contributed to fiscal, economic and social benefits and more informed decision-making to enhance Queensland’s prosperity.", "activities": [ "Financial and risk advice on high-priority government projects", "Assisting with the coordinated management of the whole-of-government capital program" ], "source_url": "", "source_page": 12, "source_deep_url": "" } ], "performance_measures": [ { "code": "CCE01", "measure": "State’s term debt borrowing requirement", "target": "$33.5 billion", "latest_result": "$26.9 billion", "status": "Achieved", "target_source_url": "", "target_source_page": 8, "result_source_url": "https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf", "result_source_page": 8 } ], "document_alignment_terms": { "must_support": [ "To create value for all Queenslanders through our trusted financial expertise", "To be a world-class financial partner of government", "Energy", "Infrastructure", "Investment", "Housing", "Social services" ], "watch_terms": [ "State’s term debt borrowing requirement" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Queensland Treasury Corporation — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)\n\n## Vision\n\n> To be a world-class financial partner of government [CP p.7]\n\n## Our purpose / purposes\n\n> To create value for all Queenslanders through our trusted financial expertise [CP p.5]\n\n## How we deliver\n\n> By fostering a strong risk mindset, embracing innovation, and striving for excellence in everything we do [CP p.7]\n\n## Government priorities for this department\n\n- Energy [CP p.10]\n- Infrastructure [CP p.10]\n- Investment [CP p.10]\n- Housing [CP p.10]\n- Social services [CP p.10]\n\n## Outcomes\n\n### Outcome 1: Achieving sustainable access to funding\nQTC completed the State’s $26.9 billion 2024-25 indicative term debt borrowing program on 13 May 2025 ahead of schedule, and raised an additional $2.6 billion towards the 2025-26 program. [CP p.8]\n\n**Key activities:**\n- Attracting a diversified investor base\n- Offering a wide range of high-quality financial securities\n\n### Outcome 2: Creating value for the State and clients\nIn 2024–25, QTC supported Queensland Treasury and other key clients to create value for Queensland. This work contributed to fiscal, economic and social benefits and more informed decision-making to enhance Queensland’s prosperity. [CP p.12]\n\n**Key activities:**\n- Financial and risk advice on high-priority government projects\n- Assisting with the coordinated management of the whole-of-government capital program\n\n## Values and principles\n\n_QTC Values_\n\n- Risk Mindset\n- Integrity\n- Accountability\n- Creating Value for Queensland\n- Growth\n- Innovation and Excellence\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| CCE01 | State’s term debt borrowing requirement | $33.5 billion | CP p.8 |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| CCE01 | State’s term debt borrowing requirement | $26.9 billion | Achieved | [AR p.8](https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf#page=8)(https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf#page=8) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Queensland Treasury Corporation - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T22:51:56.661979+00:00\n**Entity ID**: S-QLD-045\n**Entity type**: State-Owned Corporation\n**Jurisdiction**: QLD\n**Portfolio**: Treasurer\n**Website**: https://www.qtc.com.au/\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 5 |\n| other-pdfs | 4 |\n| pages | 29 |\n\n## Executive Readout\n\n### Purpose\n\n- Vision 2021–25\nProtecting and advancing Queensland’s Strategic Goals\nfinancial interests\n1 S ustainable funding\nMission\n2 State and client value\nTo deliver optimal financial outcomes 3 O rganisational excellence\nthrough sound funding and financial\nrisk management\nValues\nClient focus\nWe build strong partnerships with our clients to deliver simple and\nwell-designed solutions that achieve quality outcomes for Queensland.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- Vision 2021–25\nProtecting and advancing Queensland’s Strategic Goals\nfinancial interests\n1 Sustainable funding\nMission\n2 S tate and client value\nTo deliver optimal financial outcomes 3 Organisational excellence\nthrough sound funding and financial\nrisk management\nValues\nClient focus\nWe build strong partnerships with our clients to deliver simple and\nwell-designed solutions that achieve quality outcomes for Queensland.\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- Vision\nProtecting and advancing Queensland’s financial interests\nMission\nTo deliver optimal financial outcomes through sound funding and financial risk management\n2023-27 Strategic Goals\n1.\n Source: `pages/annual-reports-index__02.html (https://www.qtc.com.au/annual-reports/annual-report-2022-23/)`\n- Vision\nProtecting and advancing Queensland’s financial interests\nMission\nTo deliver optimal financial outcomes through sound funding and financial risk management\n2021-25 Strategic Goals\n1.\n Source: `pages/annual-reports-index__03.html (https://www.qtc.com.au/annual-reports/annual-report-2021-22/)`\n\n### Role and Functions\n\n- The charter provides that the role and\nfunctions of the Board are to:\nn take responsibility for the corporate governance of QTC\nn set strategic direction, policies and risk appetite\nn promote and monitor the organisational culture\nn monitor the implementation of QTC’s strategy\nn ensure the effectiveness of the risk management framework\nn monitor QTC’s financial and business performance\nn ensure compliance with legal and regulatory obligations\n16\nANNUAL REPORT 2024–25 Queensland Treasury Corporation\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n- [Page 3]\nQUEENSLAND TREASURY CORPORATION | ANNUAL REPORT 2020–21\n1\nContents\nLetter of compliance 2\nQueensland Treasury Corporation 3\nRole and responsibilities 4\nChair’s report 5\nChief Executive’s report 6\nAchieving sustainable access to funding 8\nCreating value for the State and clients 10\nAchieving organisational excellence 14\nEnvironmental, social and governance (ESG) 16\nCorporate governance 17\nFinancial Statements 23\nAppendices 61\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nTelephone: +61 7 3842 4600\nEmail: enquiry@qtc.com.au\nInternet: www.qtc.com.au\nQueensland Treasury Corporation’s annual reports\n(ISSN 1837-1256 print; ISSN 1837-1264 online) are available on\nQTC’s website at www.qtc.com.au/about-qtc/annual-reports.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- [Page 3]\nQUEENSLAND TREASURY CORPORATION | ANNUAL REPORT 2021–22\nCONTENTS\nLetter of compliance 2\nQueensland Treasury Corporation 3\nRole and responsibilities 4\nChair’s report 5\nChief Executive’s report 6\nAchieving sustainable access to funding 8\nCreating value for the State and clients 10\nAchieving organisational excellence 14\nEnvironmental, social and governance commitment 17\nCorporate governance 18\nQTC’s Capital Markets Board 20\nFinancial Statements 25\nAppendices 65\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nTelephone: +61 7 3842 4600\nEmail: enquiry@qtc.com.au\nInternet: www.qtc.com.au\nQueensland Treasury Corporation’s annual reports\n(ISSN 1837-1256 print; ISSN 1837-1264 online) are available on\nQTC’s website at www.qtc.com.au/about-qtc/annual-reports 1\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- [Page 3]\nQUEENSLAND TREASURY CORPORATION | ANNUAL REPORT 2022–23\nCONTENTS\nLetter of compliance 2\nQueensland Treasury Corporation 3\nRole and responsibilities 4\nChair’s report 5\nChief Executive Officer’s report 6\nAchieving sustainable access to funding 8\nCreating value for the State and clients 10\nAchieving operational excellence 13\nEnvironmental, social and governance commitment 15\nCorporate governance 16\nFinancial Statements 23\nAppendix A – Statutory and mandatory disclosures 64\nAppendix B – Glossary 65\nAppendix C – Compliance checklist 66\nAppendix D – Contacts 67\nTurrbal Country (Meanjin)\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nTelephone: +61 7 3842 4600\nEmail: enquiry@qtc.com.au\nInternet: www.qtc.com.au\nQueensland Treasury Corporation’s annual reports (ISSN 1837-1256 print; ISSN 1837-1264 online)\nare available on QTC’s website at www.qtc.com.\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- [Page 3]\nCONTENTS\nLetter of compliance 2\nQueensland Treasury Corporation 3\nRole and responsibilities 4\nChair’s report 5\nChief Executive Officer’s report 6\nAchieving sustainable access to funding 8\nCreating value for the State and clients 10\nAchieving operational excellence 13\nEnvironmental, social and governance commitment 15\nCorporate governance 16\nFinancial statements 23\nAppendices 63\nAppendix A – Statutory and mandatory disclosures 64\nAppendix B – Glossary 65\nAppendix C – Compliance checklist 66\nAppendix D – Contacts 67\nTurrbal Country (Meanjin)\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nTelephone: +61 7 3842 4600\nEmail: enquiry@qtc.com.au\nInternet: www.qtc.com.au\nQueensland Treasury Corporation’s annual reports (ISSN 1837-1256 print; ISSN 1837-1264 online)\nare available on QTC’s website at www.qtc.com.au/about-qtc/annual-reports\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- No remuneration\nis payable by QTC to the Under Treasurer in relation to this role.\n(b) Key management personnel\nDisclosures relating to key management personnel are set out in note 20.\n(c) Investments in companies\nDetails of investments in associates and other companies are set out in note 22.\n(d) Transactions with related parties\nTransactions undertaken with related parties during the year include:\n§ loan balances with a book value of $95.6 billion (2023: $89.4 billion) and interest received $3.1 billion (2023: $2.7 billion)\n§ investment of cash surpluses $4.9 billion (2023: $5.2 billion) and interest paid $311.3 million (2023: $103.8 million)\n§ fees received $84.2 million (2023: $80.2 million)\n§ no dividends were paid to Queensland Treasury this year (2023: $40 million)\n§ the SIO segment transferred $411 million of securities from the LTA portfolio to the State (2023: Nil).\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n\n### Strategic Priorities\n\n- QTC continues to hold a portfolio\nenhancements, mature risk practices, culture and leadership. of diverse, liquid financial securities to meet the State’s\nIn February 2023, a new Chief Executive was appointed by liquidity requirements, consistent with policy frameworks.\nthe Board to guide QTC’s strategic direction and continue\nThe outcome of the 2022–23 internal audit program was\ndelivering operational excellence and adapt to the ever-\npositive with 11 internal audits conducted and completed\nchanging external environment.\nsuccessfully, with ratings demonstrating a well-controlled\nFour priority streams of strategy, technology, people and operating environment.\nrisk were identified as focus areas to enhance QTC’s core\nQTC manages cyber risk by continual review and\nbusiness and elevate future opportunities, while assessing\nimprovement through the coordination of four key elements:\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- In addition, QTC provides a dedicated advisory\n11 Financial risk management 36\nservice that works in partnership with government clients to solve complex\n12 Fair value hierarchy 43 issues aligned with Queensland Government’s priorities and uplift public sector\n13 Notes to the statement of cash flows 45 financial and risk management capability.\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n- Under the strategy’s three priority streams of culture, disability and gender, ten new initiatives were implemented, including:\nactivities to celebrate the 26 nationalities represented in QTC’s workforce\ntwo new partnerships with external organisations to provide employment opportunities for people with a disability, and\nan increase in the number of women appointed to senior leadership roles (now 38 percent, up from 20 per cent in 2013–14) and general manager roles (now 50 per cent).\n Source: `pages/annual-reports-index__11.html (https://www.qtc.com.au/annual-reports/annual-report-2014-15/)`\n- The four strategic priority areas form a significant program of work that is being coordinated into the 2023–24 performance year.\n Source: `pages/annual-reports-index__02.html (https://www.qtc.com.au/annual-reports/annual-report-2022-23/)`\n- In 2020–21, under the strategy’s three priority streams of culture, family and community, and gender, QTC:\ncontinued the Stepping Stone partnership and the intern program with the Australian Network on Disability\ncontinued its range of mental and physical health programs to support employee wellbeing, including health and fitness checks, ergonomic evaluations, fitness passports and flu vaccinations\nraised awareness for inclusivity and diversity by supporting National Reconciliation Week during NAIDOC Week, RUOK Day, the UNICEF India COVID-19 Relief Appeal, Harmony Day, International Women’s Day, and International Day of Disability, and\nembraced community giving by fundraising for a number of additional charities in 2020–21, including Movember (supporting men’s health), and The Push-Up Challenge (supporting Headspace, the National Youth Mental Health Foundation; Lifeline Australia;\n Source: `pages/annual-reports-index__04.html (https://www.qtc.com.au/annual-reports/annual-report-2020-21/)`\n- The key priority projects QTC delivered include:\nn Queensland Sustainability Report 2021: QTC collaborated with the Queensland\nGovernment on the development of the inaugural Queensland Sustainability Report\n2021 with information about the State’s environmental, social and governance (ESG)\ncommitments and outcomes.\nn Energy reforms: QTC supported Queensland Treasury and other agencies with market\nmodelling and research to assist the Queensland Government meet its energy policy\ncommitments.\nn SEQ Waste Management Plan: On behalf of the 11 councils in South-East Queensland,\nSupported the\nQTC developed the SEQ Waste Management Plan—a 10-year roadmap that identifies\nQueensland Government's\nthe sequence of levers and investments required to improve the economics of waste\nenergy policy commitments\nmanagement operations, encourage economic development and deliver social and\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- [pages 17,18]\nns an important volunteer leave or contributed to charity during 2023–24 was\npriority.\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- This included the establishment of new bond lines, including a $1.5 billion 1.25% 2031 Green\nBond, a $3 billion 1.50% 2032 Benchmark Bond, and a $2 billion 2027 Floating Rate Note at\n$50 million dividend 3mBBSW+9bps.\nto the State\nDue to COVID-19, the 2020–21 State Budget was deferred in line with the Commonwealth\nand other State Governments.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- Following the Queensland State Budget release on 15 June 2021, QTC estimated that it\nwill borrow $17.4 billion of term debt in 2021–22.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- On 7 September 2020, following the release of the State’s COVID-19\nFiscal and Economic Review, QTC announced its indicative term debt borrowing requirement\nof $21 billion, within the anticipated requirement, and which remained unchanged following\nthe State Budget on 1 December 2020.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- The reduction was a result of lower\nclient borrowings and general government revenue uplifts.\n$404.6 million interest Following the Queensland 2022–23 State Budget, released on 21 June 2022, QTC estimates\nrate reduction to the State it will borrow $14.4 billion of term debt in the 2022–23 financial year.\nthrough debt management\nESG initiatives\nQTC worked closely with its stakeholders and the Queensland Government to deliver initiatives\nthat support environmental, social and governance (ESG) outcomes for Queensland.\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- [pages 52,53]\nd\u0007the\u0007defined\u0007benefit\u0007superannuation\u0007and\u0007other\u0007long\u0007term\u0007obligations\u0007of\u0007the\u0007State.\n(2)\u0007 At\u000730\u0007June\u00072022,\u0007the\u0007only\u0007sub\u0007fund\u0007of\u0007the\u0007QFF\u0007is\u0007the\u0007DRF.\u0007The\u0007DRF\u0007was\u0007established\u0007to\u0007support\u0007both\u0007the\u0007State's\u0007credit\u0007rating\u0007and\u0007generate\u0007returns\u0007to\u0007reduce\u0007the\u0007State's\u0007debt\u0007burden.\n(3)\u0007 For\u0007every\u0007investment\u0007deposited\u0007or\u0007withdrawal\u0007from\u0007the\u0007LTA\u0007or\u0007QFF,\u0007there\u0007is\u0007an\u0007equivalent\u0007increase\u0007or\u0007decrease\u0007to\u0007the\u0007corresponding\u0007FRN.\n(4)\u0007 \u0007The\u0007net\u0007change\u0007in\u0007the\u0007fair\u0007value\u0007of\u0007the\u0007fixed\u0007rate\u0007notes\u0007was\u0007negative\u0007in\u00072022,\u0007reflecting\u0007the\u0007lower\u0007returns\u0007achieved\u0007on\u0007the\u0007assets\u0007invested\u0007when\u0007compared\u0007to\u0007the\u0007interest\u0007paid\u0007by\u0007\nQTC\u0007on\u0007the\u0007FRN\u0007of\u00076.5%.\u0007In\u0007the\u0007previous\u0007year,\u0007the\u0007return\u0007on\u0007assets\u0007invested\u0007was\u0007positive,\u0007reflecting\u0007higher\u0007returns\u0007achieved\u0007on\u0007the\u0007assets\u0007invested\u0007when\u0007compared\u0007to\u0007the\u0007interest\u0007\npaid\u0007on\u0007the\u0007FRN\u0007of\u00076.5%.\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- OPENING UNREALISED CLOSING\n30 JUNE 2023\nBALANCE DISTRIBUTIONS(1) MARKET MOVEMENTS(1) SETTLEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000\nDiversified alternatives 4 065 983 (639 271) 132 508 762 132 4 321 352\nInfrastructure 9 555 545 (534 489) 291 086 (4 106 892)(2) 5 205 250\nPrivate equities 4 153 698 (187 792) (59 973) 82 012 3 987 945\nReal estate 2 754 235 (182 476) 487 894 3 764 898(2) 6 824 551\nOPENING UNREALISED CLOSING\n30 JUNE 2022\nBALANCE DISTRIBUTIONS(1) MARKET MOVEMENTS(1) SETTLEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000\nDiversified alternatives 3 149 225 (513 803) 466 868 963 693 4 065 983\nInfrastructure 8 703 331 (107 211) 1 308 889 (349 464) 9 555 545\nPrivate equities 3 611 679 (453 054) 941 950 53 123 4 153 698\nReal estate 1 661 880 - (20 469) 1 112 824 2 754 235\n(1) Data in the above table is based on movements in the unit trusts that hold the assets\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- [pages 52,53]\nT MOVEMENTS(1) SETTLEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000\nDiversified alternatives 3 149 225 (513 803) 466 868 963 693 4 065 983\nInfrastructure 8 703 331 (107 211) 1 308 889 (349 464) 9 555 545\nPrivate equities 3 611 679 (453 054) 941 950 53 123 4 153 698\nReal estate 1 661 880 - (20 469) 1 112 824 2 754 235\n(1) Data in the above table is based on movements in the unit trusts that hold the assets\n(2) The movements to the infrastructure and real estate asset classes were as a result of the reclassification of an underlying asset, not a change in underlying asset exposure.\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- 30 JUNE 2024 OPENING DISTRIBUTIONS(1) UNREALISED SETTLEMENTS(1) TRANSFERS CLOSING\nBALANCE MARKET MOVEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000 $000\nDiversified alternatives 4 321 352 (7 222) 551 233 (411 108) 3 645 434(2) 8 099 689\nInfrastructure 5 205 250 (36 412) 702 160 20 252 - 5 891 250\nPrivate equities 3 987 945 (15 976) 18 977 (33 725) - 3 957 221\nReal estate 6 824 551 (23 790) 1 267 596 4 661 - 8 073 018\n30 JUNE 2023 OPENING DISTRIBUTIONS(1) UNREALISED SETTLEMENTS(1) TRANSFERS CLOSING\nBALANCE MARKET MOVEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000 $000\nDiversified alternatives 4 065 983 (639 271) 132 508 762 132 - 4 321 352\nInfrastructure 9 555 545 (534 489) 291 086 (4 106 892)(3) - 5 205 250\nPrivate equities 4 153 698 (187 792) (59 973) 82 012 - 3 987 945\nReal estate 2 754 235 (182 476) 487 894 3 764 898(3) - 6 824 551\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- [pages 52,53]\n6 (4 106 892)(3) - 5 205 250\nPrivate equities 4 153 698 (187 792) (59 973) 82 012 - 3 987 945\nReal estate 2 754 235 (182 476) 487 894 3 764 898(3) - 6 824 551\n(1) Data in the above table is based on movements in the unit trusts that hold the assets.\n(2) Diversified alternative assets were transferred from level 2 to level 3 during the year ended 30 June 2024.\n(3) The movements to the infrastructure and real estate asset classes were as a result of the reclassification of an underlying asset, not a change in underlying asset exposure.\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- Against this backdrop, QTC achieved strong funding outcomes, including:\nEarly completion of the $7 billion 2017-18 borrowing program and pre-funding of an additional $3.5 billion towards future borrowing programs, a total of $10.5 billion\nIssuance of $8 billion of benchmark bonds, including one new benchmark bond maturing in 2030 that helped smooth and extend QTC’s bond maturity profile\nIssuance of $2 billion into a new floating rate note, maturing in 2022, and\nStrong returns and benchmark outperformance of QTC’s Capital Guaranteed Cash Fund, which remains one of the largest managed funds in Australia with $8.3 billion under management.\n Source: `pages/annual-reports-index__07.html (https://www.qtc.com.au/annual-reports/annual-report-2017-18/)`\n- Overview as at 30 June 2018\nProgram limit ($M)\nMaturities\nCurrencies\nShort-term\nDomestic T-Note\nUnlimited\n7–365 days\nAUD\nEuro CP\nUSD10,000\n1–364 days\nMulti-currency\nUS CP\nUSD10,000\n1–270 days\nUSD\nLong-term\nAUD Bond\nUnlimited\n12 benchmark lines: 2019-2028, 2030 and 2033\nAUD\n2 AGG* lines: 2019-2021\nAUD\n1 QTC Green Bond: 2024\nAUD\n2 floating rate note: 2018 and 2022\n1 capital indexed bond: 2030\n1 AUD non-benchmark line: 2047\nAUD\nEuro MTN\nUSD10,000\nAny maturity subject to market regulations\nMulti-currency\nUS MTN\nUSD10,000\n9 months – 30 years\nMulti-currency\n*AGG – Australian Government Guaranteed\nAchieving organisational excellence\nQTC is committed to maintaining high organisational standards to provide an environment where corporate goals can be achieved and organisational risks are actively monitored and addressed.\n Source: `pages/annual-reports-index__07.html (https://www.qtc.com.au/annual-reports/annual-report-2017-18/)`\n- Highlights include:\ntransition from 250 applications to four core software platforms\n96 per cent of client transactions completed online – more than 50 per cent in excess of target\nreduction in time spent rebalancing portfolios from approximately 120 hours to approximately 6 hours per month\nemployee productivity increased, and reduced employee induction times\n76 per cent employee engagement – a 33 per cent increase in 12 months\n73 per cent reduction in the number of policy documents, and\nnew employees rate recruitment satisfaction at 88 per cent.\n Source: `pages/annual-reports-index__08.html (https://www.qtc.com.au/annual-reports/annual-report-2016-17/)`\n- Operating profit\nFor the half-year ended 31 December 2016, QTC achieved an operating profit after tax from its capital markets operations of $66.2 million (HY2015: $25.1 million).\n Source: `pages/annual-reports-index__09.html (https://www.qtc.com.au/annual-reports/qtc-half-yearly-report-july-december-2016/)`\n- Funding requirements achieved\nStrong investor demand for primary issuance supported the successful early completion of the State’s $5.9 billion term debt borrowing program for 2015–16 in March, and prefunded $1 billion towards the 2016–17 funding requirement and approximately $3 billion for future years by year end.\n Source: `pages/annual-reports-index__10.html (https://www.qtc.com.au/annual-reports/annual-report-2015-16/)`\n- Funding facilities\nFunding facilities\nFacility\nSize\n($M)\nMaturities\nCurrencies\nOn issue\n(AUD M)\nShort-term\nDomestic T-Note\nUnlimited\n7–365 days\nAUD\n5 056\nEuro CP\nUSD10,000\n1–364 days\nMulti-currency\n754\nUS CP\nUSD10,000\n1–270 days\nUSD\n46\nLong-term\nAUD Bond\nUnlimited\n12 benchmark lines:\n2017-2026, 2028, 2033\nAUD\n68 740\n3 AGG\n4\nlines: 2017-2021\nAUD\n5 524\nCapital Indexed Bond: 2030\nAUD\n860\n3 floating rate notes: 2016, 2017 & 2018\nAUD\n6 655\nGlobal AUD Bond\nAUD20,000\nAGG\n4\nline: 2017 (transferable to domestic bonds)\nAUD\n185\nMulti-currency Euro MTN\nUSD10,000\nAny maturity subject to market regulations\nMulti-currency\n1 183\nMulti-currency US MTN\nUSD10,000\n9 months – 30 years\nMulti-currency\n–\nStriving for organisational excellence\n Source: `pages/annual-reports-index__10.html (https://www.qtc.com.au/annual-reports/annual-report-2015-16/)`\n- 2014-15 funding requirements achieved\nWith strong investor demand for primary issuance, and despite some increasing volatility within the global financial markets, QTC successfully completed its $7 billion term debt borrowing program for 2014–15 in March—and by year end had raised an additional $2 billion towards the 2015–16 funding requirement.\n Source: `pages/annual-reports-index__11.html (https://www.qtc.com.au/annual-reports/annual-report-2014-15/)`\n- Funding facilities\nFunding facilities\nAs at 30 June 2015\nFacility\nSize\n($M)\nMaturities\nCurrencies\nOn issue\n(AUD M)\nShort-term\nDomestic T-Note\nUnlimited\n7–365 days\nAUD\n4 900\nEuro CP\nUSD10,000\n1–364 days\nMulti-currency\n115\nUS CP\nUSD10,000\n1–270 days\nUSD\n163\nLong-term\nAUD Bond\nUnlimited\n11 benchmark lines: 2015-2025\nAUD\n69 713\n4 AGG\n4\nlines: 2015-2021\nAUD\n7 281\nPreferred line: 2033\nAUD\n905\nCapital Indexed Bond: 2030\nAUD\n847\nFloating rate notes: 2016-2018\nAUD\n7 055\nGlobal AUD Bond\nAUD20,000\n2 AGG* lines 2015-2017\nAUD\n487\nMulti-currency Euro MTN\nUSD10,000\nVarious\nMulti-currency\n1 089\nMulti-currency US MTN\nUSD10,000\nVarious\nMulti-currency\n–\n* AGG – Australian Government Guaranteed\nStriving for organisational excellence\n Source: `pages/annual-reports-index__11.html (https://www.qtc.com.au/annual-reports/annual-report-2014-15/)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $404.6 million, $14.4 billion, 404.6 million, 14.4 billion | The reduction was a result of lower\nclient borrowings and general government revenue uplifts.\n$404.6 million interest Following the Queensland 2022–23 State Budget, released on 21 June 2022, QTC estimates\nrate reduction to the State it will borrow $14.4 billion of term debt in the 2022–23 financial year.\nthrough debt management\nESG initiatives\nQTC worked closely with its stakeholders and the Queensland Government to deliver initiatives\nthat suppo | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $1.0 billion, $14.5 billion, 1.0 billion, 14.5 billion | The Queensland Government and QTC continued to provide transparent and regular updates to\nthe market on Queensland’s fiscal position and borrowing program, including $1.0 billion reduction\nin the borrowing program to $14.5 billion due to general government revenue uplifts following the\nQueensland 2023–24 Budget Update released on 13 December 2023. | `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)` |\n| $612 million, $4.6 billion, $1.83 billion, 612 million, 4.6 billion, 1.83 billion | Two of QTC’s most senior staff members provided project leads to the asset divestment program for the successful sale of Forestry Plantation Queensland ($612 million, June 2010), QR National ($4.6 billion, November 2010) and the Abbot Point Coal Terminal ($1.83 billion, May 2011). | `pages/announcements-index__20.html (https://www.qtc.com.au/about-qtc/2008-2011/)` |\n| $2.5 billion, 2.5 billion | 4 Administration expenses 34\nLong Term Assets Portfolio\n5 Income tax expense 35 The LTA portfolio consists of assets that were transferred to QTC by the\n6 Cash and cash equivalents 35 State and invested in several sub-portfolios:\n7 Financial assets at fair value through profit or loss 36 (a) Endowment Portfolio\n8 Derivative financial assets and derivative financial liabilities 36 In 2008, the State transferred assets to fund the State’s superannu | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $1.5 billion, $3 billion, $2 billion, $50 million, 1.5 billion, 3 billion | This included the establishment of new bond lines, including a $1.5 billion 1.25% 2031 Green\nBond, a $3 billion 1.50% 2032 Benchmark Bond, and a $2 billion 2027 Floating Rate Note at\n$50 million dividend 3mBBSW+9bps.\nto the State\nDue to COVID-19, the 2020–21 State Budget was deferred in line with the Commonwealth\nand other State Governments. | `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)` |\n| $17.4 billion, 17.4 billion | Following the Queensland State Budget release on 15 June 2021, QTC estimated that it\nwill borrow $17.4 billion of term debt in 2021–22. | `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)` |\n| $21 billion, 21 billion | On 7 September 2020, following the release of the State’s COVID-19\nFiscal and Economic Review, QTC announced its indicative term debt borrowing requirement\nof $21 billion, within the anticipated requirement, and which remained unchanged following\nthe State Budget on 1 December 2020. | `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)` |\n| $3.1 billion, $14.3 billion, 3.1 billion, 14.3 billion | QTC’s borrowing program was reduced by $3.1 billion to $14.3 billion following the Queensland\n2021–22 Budget Update released on 16 December 2021. | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $9.0 billion, $17.4 billion, 9.0 billion, 17.4 billion | Issued approx. $9.0 billion\nof benchmark bonds Meeting the State’s funding requirements\nQTC is a highly regarded bond issuer in global fixed-income markets and raises the funds\nneeded by the State each year, often ahead of time, with its bond issues consistently\nover-subscribed.\n•I I\nOn 15 June 2021, following the release of the 2021–22 State Budget, QTC announced it\nI would raise $17.4 billion to meet the State’s term debt borrowing requirement. | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $3.1 billion, $14.3 billion, 3.1 billion, 14.3 billion | On 16 December 2021, the requirement was decreased by $3.1 billion to $14.3 billion,\nfollowing the Queensland 2021–22 Budget Update. | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $2.0 billion, 2.0 billion | 10 Financial liabilities at fair value through profit or loss 37 (b) State Initiatives Portfolio\n11 Financial risk management 39 In June 2021, assets worth $2.0 billion were transferred to support\n12 Fair value hierarchy 44 a number of Government initiatives. | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $1.0 billion, $13.4 billion, 1.0 billion, 13.4 billion | QTC’s borrowing program\nwas reduced by $1.0 billion to $13.4 billion following the Queensland 2022–23 Budget Update\nreleased on 7 December 2022. | `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)` |\n| $15.5 billion, 15.5 billion | Following the Queensland 2023–24 State Budget, released on 13 June 2023, QTC announced\nan indicative term debt borrowing program of $15.5 billion in the 2023–24 financial year. | `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)` |\n| $14.4 billion, 14.4 billion | On 21 June 2022, following the release of the 2022–23 State Budget, QTC announced\nit would raise $14.4 billion to meet the State’s term debt borrowing requirement. | `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)` |\n| $1.0 billion, $13.4 billion, $7.8 billion, 1.0 billion, 13.4 billion, 7.8 billion | On 7 December 2022, the requirement was decreased by $1.0 billion to $13.4 billion, following\nIssued approx. $7.8 billion\nthe Queensland 2022–23 Budget Update. | `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)` |\n| $24.9 billion, 24.9 billion | Following the Queensland 2024–25 State Budget, released on 11 June 2024, QTC announced an\nindicative term debt borrowing program of $24.9 billion for the 2024–25 financial year. | `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)` |\n| $15.5 billion, 15.5 billion | On 13 June 2023, following the release of the 2023–24 State Budget, QTC announced it would raise\n$15.5 billion to meet the State’s term debt borrowing requirement. | `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)` |\n| $1.0 billion, $14.5 billion, 1.0 billion, 14.5 billion | On 13 December 2023, the requirement was decreased by $1.0 billion to $14.5 billion, following the\nQueensland 2023–24 Budget Update. | `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)` |\n| $404.6 million, $14.4 billion, 404.6 million, 14.4 billion | The reduction was a result of lower\nclient borrowings and general government revenue uplifts.\n$404.6 million interest Following the Queensland 2022–23 State Budget, released on 21 June 2022, QTC estimates\nrate reduction to the State it will borrow $14.4 billion of term debt in the 2022–23 financial year.\nthrough debt management\nESG initiatives\nQTC worked closely with its stakeholders and the Queensland Government to deliver initiatives\nthat suppo | `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)` |\n| $000 , $000 | OPENING UNREALISED CLOSING\n30 JUNE 2023\nBALANCE DISTRIBUTIONS(1) MARKET MOVEMENTS(1) SETTLEMENTS(1) BALANCE\nASSET CLASS $000 $000 $000 $000 $000\nDiversified alternatives 4 065 983 (639 271) 132 508 762 132 4 321 352\nInfrastructure 9 555 545 (534 489) 291 086 (4 106 892)(2) 5 205 250\nPrivate equities 4 153 698 (187 792) (59 973) 82 012 3 987 945\nReal estate 2 754 235 (182 476) 487 894 3 764 898(2) 6 824 551\nOPENING UNREALISED CLOSING\n30 JUNE 2022 | `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)` |\n\n## Key Achievements\n\n- Highlights include:\ntransition from 250 applications to four core software platforms\n96 per cent of client transactions completed online – more than 50 per cent in excess of target\nreduction in time spent rebalancing portfolios from approximately 120 hours to approximately 6 hours per month\nemployee productivity increased, and reduced employee induction times\n76 per cent employee engagement – a 33 per cent increase in 12 months\n73 per cent reduction in the number of policy documents, and\nnew employees rate recruitment satisfaction at 88 per cent.\n Source: `pages/annual-reports-index__08.html (https://www.qtc.com.au/annual-reports/annual-report-2016-17/)`\n- QTC also received a ‘5 out of 5’\nrating for key controls that were implemented for workforce\nAn ongoing focus on the continuous improvement of QTC’s\nmanagement in response to COVID-19, and for\norganisational capability has delivered further enhancements\nits exceptionally well-controlled industry support package\nto systems, risk management and talent development\nloan management processes.\npractices.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- During the year, the Risk and Audit Committee\nHuman Resources Committee\nrecommended the adoption of annual financial statements,\nThe Human Resources Committee is a decision-making\nreviewed external and internal audit reports and the\nand advisory body responsible for overseeing and assisting\nprogress in implementing the recommendations from those\nthe Board with:\nreports, approved QTC’s Internal Audit Plan and reviewed the\nn human resources-related key policies and compliance Queensland Audit Office’s External Audit Plan.\nwith relevant legislation\nn the framework for remuneration and performance reviews\nn the integrity and consistency of QTC’s corporate culture\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 9 4 4 5\nII ELIGIBLE II ELIGIBLE II ELIGIBLE II ELIGIBLE\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- Board with:\nDuring the year, the Risk and Audit Committee\nn human resources-related key policies and compliance with\nrecommended the adoption of annual financial statements,\nrelevant legislation\nreviewed external and internal audit reports and the\nn the framework for remuneration and performance reviews progress in implementing the recommendations from those\nn the integrity and consistency of QTC’s corporate culture reports, approved QTC’s Internal Audit Plan and reviewed the\nn succession planning for the executive leadership team, Queensland Audit Office’s External Audit Plan.\nexecutive development and talent pipeline risks\nn strategic workforce planning and operational resource\nplanning\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 8 4 3 4\nELIGIBLE ELIGIBLE ELIGIBLE ELIGIBLE\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- The Committee meets at least four\nincluding culture, values and behaviours, leadership, talent times each calendar year.\nmanagement, employee engagement, remuneration,\nDuring the year, the Risk and Audit Committee recommended\nworkforce planning and organisation design\nthe adoption of annual financial statements, reviewed external\nn human resources-related key policies and compliance with and internal audit reports and the progress in implementing the\nrelevant legislation\nrecommendations from those reports, approved QTC’s Internal\nn QTC’s risk appetite and strategies for human resources key Audit Plan and reviewed the Queensland Audit Office’s External\nrisk areas Audit Plan.\nn performance and remuneration frameworks and processes,\nand associated budget oversight\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- The role of internal audit is to support ELIGIBLE\nQTC’s corporate governance framework by providing the Board POSITION ATTENDED TO ATTEND\n(through the Risk and Audit Committee) with: Board meetings held: 4\nn assurance that QTC has effective, efficient and economical Dennis Molloy, Deputy Under Treasurer1,2 Chair 0 0\ninternal controls in place to support the achievement of its\nMaryanne Kelly, Acting Under Treasurer1,3 Chair 0 1\nobjectives, including the management of risk, and\nMichael Carey, Under Treasurer1,4 Chair 3 3\nn advice with respect to QTC’s internal controls and business\nprocesses.\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- Highlights of QTC’s funding and financial risk management outcomes during the 2018–19 financial year included:\nearly completion of the $8 billion 2018–19 borrowing program, with an additional $2 billion of pre-funding raised to reduce future borrowing programs\nraising a further $2.4 billion towards the 2019-20 borrowing program, following its announcement on 11 June 2019\nextending QTC’s maturity profile and reducing its refinancing risk through the issuance\nof more than $9 billion of benchmark bonds – including a new 2029 maturity, $1.25 billion into a new 2029 green bond line and $1.7 billion into a new 2023 floating rate note, and\nachieving strong returns from QTC’s Capital Guaranteed Cash Fund, which outperformed its benchmark and remains one of the largest managed funds in Australia with $8.45 billion under management.\n Source: `pages/annual-reports-index__06.html (https://www.qtc.com.au/annual-reports/annual-report-2018-19/)`\n- As with the Board, Executive Management Team appointments are made on the basis of qualifications, experience, skills, strategic ability, and commitment to contribute to QTC’s performance and achievement of its corporate objectives\nQTC’s Executive Management Team\nas at 30 June 2017\nPhilip Noble\nChief Executive\nGrant Bush\nDeputy Chief Executive and Managing Director, Funding and Markets\nMark Girard\nManaging Director, Client Advisory\nRupert Haywood\nManaging Director, Risk and Financial Operations\nJane Keating\nManaging Director, Corporate Services\nFinancial Statements\nFinancial Statements for the 2016-17 Financial Year\n(\nDownload pdf, 1,323Kb\n)\nCertificate of the Queensland Treasury Corporation\nCertificate of the Queensland Treasury Corporation\nThe foregoing general purpose financial statements have been prepared in accordance with the\nFinancial Accountability Act 2009\n Source: `pages/annual-reports-index__08.html (https://www.qtc.com.au/annual-reports/annual-report-2016-17/)`\n- 2014-15 funding requirements achieved\nWith strong investor demand for primary issuance, and despite some increasing volatility within the global financial markets, QTC successfully completed its $7 billion term debt borrowing program for 2014–15 in March—and by year end had raised an additional $2 billion towards the 2015–16 funding requirement.\n Source: `pages/annual-reports-index__11.html (https://www.qtc.com.au/annual-reports/annual-report-2014-15/)`\n- Under the strategy’s three priority streams of culture, disability and gender, ten new initiatives were implemented, including:\nactivities to celebrate the 26 nationalities represented in QTC’s workforce\ntwo new partnerships with external organisations to provide employment opportunities for people with a disability, and\nan increase in the number of women appointed to senior leadership roles (now 38 percent, up from 20 per cent in 2013–14) and general manager roles (now 50 per cent).\n Source: `pages/annual-reports-index__11.html (https://www.qtc.com.au/annual-reports/annual-report-2014-15/)`\n- Workforce profile\nFY 2012-13\nEstablishment\n226\nFull-time equivalent staff\n224\nPermanent retention rate\n94.26%\nPermanent separation rate\n5.23%\nPermanent average tenure\n6.29 years\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nMaintain organisational sustainability\nKPI 1: QTC operates efficiently and effectively\nKPI 2: Risks are managed within QTC’s risk appetite\nKPI 3: QTC’s employee engagement scores trend positive\nAchieve sustainable access to funding\nKPI 4: The State’s funding objectives are met, following Board-approved funding principles\nCreate client value\nKPI 5: Clients acknowledge QTC’s positive contribution to their businesses\nStrategic Goal 4: Deliver whole-of-State benefits\nKPI 6: Evidence that QTC has delivered whole-of-State benefits, through:\n Source: `pages/annual-reports-index__13.html (https://www.qtc.com.au/annual-reports/annual-report-2012-13/)`\n- The proportion of each executive’s short-term incentive\n‘target’ opportunity is then weighed 40% on individual performance, 30% on divisional performance, and 30% on\nthe achievement of targets set out in QTC’s Strategic Plan 2017-21 and Corporate Plan 2019-20.\n Source: `other-pdfs/QTC-AR-2019-20-Financials.pdf (https://www.qtc.com.au/wp-content/uploads/2020/09/QTC-AR-2019-20-Financials.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- During the year, the Risk and Audit Committee\nHuman Resources Committee\nrecommended the adoption of annual financial statements,\nThe Human Resources Committee is a decision-making\nreviewed external and internal audit reports and the\nand advisory body responsible for overseeing and assisting\nprogress in implementing the recommendations from those\nthe Board with:\nreports, approved QTC’s Internal Audit Plan and reviewed the\nn human resources-related key policies and compliance Queensland Audit Office’s External Audit Plan.\nwith relevant legislation\nn the framework for remuneration and performance reviews\nn the integrity and consistency of QTC’s corporate culture\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 9 4 4 5\nII ELIGIBLE II ELIGIBLE II ELIGIBLE II ELIGIBLE\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- ELIGIBLE\nInternal audit is responsible for: POSITION ATTENDED TO ATTEND\nn developing an annual audit plan, based on the assessment Board meetings held: 4\nof financial and business risks aligned with QTC’s strategic\nLeon Allen1, Acting Under Treasurer Chair 3 4\ngoals and objectives, as well as material risks, and\napproved by the Risk and Audit Committee William Ryan2, Queensland Treasury Member 3 4\nn providing regular audit reports and periodic program Philip Graham, External member Member 4 4\nmanagement reports to the management team and the\nTony Hawkins, External member Member 4 4\nRisk and Audit Committee, and\nMaria Wilton, External member Member 4 4\nn working constructively with QTC’s management team to\nchallenge and improve established and proposed practices\n1\u0007 The\u0007Chair\u0007of\u0007SIAB\u0007is\u0007an\u0007ex\u0007officio\u0007role.\u0007Leon\u0007Allen’s\u0007term\u0007ended\u0007on\u000730\u0007June\u00072022\u0007and\u0007Mr\u0007Allen\u0007\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- Board with:\nDuring the year, the Risk and Audit Committee\nn human resources-related key policies and compliance with\nrecommended the adoption of annual financial statements,\nrelevant legislation\nreviewed external and internal audit reports and the\nn the framework for remuneration and performance reviews progress in implementing the recommendations from those\nn the integrity and consistency of QTC’s corporate culture reports, approved QTC’s Internal Audit Plan and reviewed the\nn succession planning for the executive leadership team, Queensland Audit Office’s External Audit Plan.\nexecutive development and talent pipeline risks\nn strategic workforce planning and operational resource\nplanning\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 8 4 3 4\nELIGIBLE ELIGIBLE ELIGIBLE ELIGIBLE\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- ELIGIBLE\nPOSITION ATTENDED TO ATTEND\nInternal audit is responsible for:\nBoard meetings held: 3\nn developing an annual audit plan, based on the assessment\nMaryanne Kelly, Acting Under-Treasurer1,2 Chair 1 1\nof financial and business risks aligned with QTC’s strategic\ngoals and objectives, as well as material risks, and Leon Allen, Under-Treasurer1,3 Chair 2 2\napproved by the Risk and Audit Committee\nWilliam Ryan, Queensland Treasury1,4 Member 3 3\nn providing regular audit reports and periodic program\nPhilip Graham, External member5 Member 3 3\nmanagement reports to the management team and the\nRisk and Audit Committee, and Maria Wilton AM, External member6 Member 3 3\nn working constructively with QTC’s management team to Cate Wood AM, Independent Member7 Member 3 3\nchallenge and improve established and proposed practices\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- The Committee meets at least four\nincluding culture, values and behaviours, leadership, talent times each calendar year.\nmanagement, employee engagement, remuneration,\nDuring the year, the Risk and Audit Committee recommended\nworkforce planning and organisation design\nthe adoption of annual financial statements, reviewed external\nn human resources-related key policies and compliance with and internal audit reports and the progress in implementing the\nrelevant legislation\nrecommendations from those reports, approved QTC’s Internal\nn QTC’s risk appetite and strategies for human resources key Audit Plan and reviewed the Queensland Audit Office’s External\nrisk areas Audit Plan.\nn performance and remuneration frameworks and processes,\nand associated budget oversight\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- William Ryan, Head of Fiscal1,5 Member 2 2\nInternal audit is responsible for: Kathleen Begley, Acting Head of Fiscal1,5 Member 2 2\nn developing an annual audit plan, based on the assessment of Philip Graham, External Member6 Member 4 4\nstrategic, financial and operational risks with regard to QTC’s Maria Wilton AM, External Member7 Member 1 1\npurpose and strategy, which is approved by the Risk and\nCate Wood AM, External Member8 Member 4 4\nAudit Committee\nWendy Tancred, External Member9 Member 3 3\nn providing regular audit reports and periodic program reports to\nthe management team and the Risk and Audit Committee, and Brendan O’Farrell, External Member10 Member 3 3\nn working constructively with QTC’s management team to\n1 This position is an ex officio appointment within Queensland Treasury.\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- Meetings held\nBoard\nRisk and\nAudit Committee\nFunding\nand Markets Committee\nHuman Resources Committee\nOrdinary meetings held\n9\n5\n4\n4\nGerard Bradley\n9\n1\n3\n4\nTonianne Dwyer\n1\n9\n–\n2\n4\nNeville Ide\n2\n6\n2\n1\n–\nAnne Parkin\n9\n5\n–\n4\nAlison Rayner\n3\n6\n3\n–\n–\nKaren Smith-Pomeroy\n4\n9\n5\n–\n1\nJim Stening\n9\n–\n4\n–\n1\nMs Dwyer was appointed to the Funding and Markets Committee effective 1 February 2019\n2\nMr Ide was appointed to the Board effective 1 October 2018, the Risk and Audit Committee effective 1 February 2019 and the Funding and Markets Committee effective 1 February 2019\n3\nMs Rayner was appointed to the Board and the Risk and Audit Committee effective 19 July 2018\n4\nMs Smith-Pomeroy was appointed to the Human Resources Committee effective 1 February 2019\nQTC's Capital Markets Board as at 30 June 2019\nQTC's Capital Markets Board as at 30 June 2019\n Source: `pages/annual-reports-index__06.html (https://www.qtc.com.au/annual-reports/annual-report-2018-19/)`\n- [pages 22,23,24,25]\nram reports\nto the management team and the Risk and Audit Committee,\nand\nn working constructively with QTC’s management team to\nchallenge and improve established and proposed practices\nand to put forward ideas for process improvement.\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n- Meetings held\nRISK AND FUNDING AND HUMAN RESOURCES\nBOARD AUDIT COMMITTEE MARKETS COMMITTEE COMMITTEE\nORDINARY MEETINGS HELD 9 5 4 6\nII ELIGIBLE II ELIGIBLE II ELIGIBLE II ELIGIBLE\nATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND\nGerard Bradley1 9 9 1 1 4 4 5 5\nLeon Allen2 9 9 0 0 3 3 0 0\nNeville Ide 9 9 5 5 4 4 0 0\nAnne Parkin 9 9 5 5 0 0 6 6\nKaren Smith-Pomeroy 9 9 5 5 0 0 6 6\nJim Stening1 9 9 0 0 4 4 0 0\nRosemary Vilgan3 7 7 0 0 0 0 5 5\n1 The terms for Mr Bradley and Mr Stening expired on 30 June 2020.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- [pages 23,24,25]\nnt reports to the\nmanagement team and the Risk and Audit Committee, and\nn working constructively with QTC’s management team to challenge and improve established\nand proposed practices and to put forward ideas for process improvement.\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- [pages 21,22]\nC’s corporate culture\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 9 4 4 5\nII ELIGIBLE II ELIGIBLE II ELIGIBLE II ELIGIBLE\nATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND\nGerard Bradley1 – Chair 9 9 4 4 4 4 1 1\nLeon Allen2 8 9 3 4 - - - -\nNeville Ide3 9 9 4 4 - - 5 5\nAnne Parkin 7 9 - - 3 4 5 5\nKaren Smith-Pomeroy 9 9 - - 4 4 5 5\nJim Stening 8 9 4 4 - - - -\nRosemary Vilgan 9 9 - - 4 4 - -\n1 \u0007 Gerard\u0007Bradley\u0007retired\u0007from\u0007the\u0007QTC\u0007Board,\u0007effective\u000730\u0007June\u00072022.\u0007Damien\u0007Frawley\u0007was\u0007appointed\u0007as\u0007the\u0007QTC\u0007Board\u0007Chair\u0007from\u00071\u0007July\u00072022.\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- The\nfinancial\nstatements\nare\nauthorised\nfor issue\non\nthe\ndate\nof\nsigning\nthis\ncertificate\nwhich\nis\nsigned\nin\naccordance\nwith\na\nrisk\nmanagement\nprocesses\nwith\nrespect\nto financial\nreporting\nthroughout\nthe\nreporting\nperiod.\nfor\nthe\nestablishment\nand\nmaintenance,\nin all material\nrespects,\nof\nan\nappropriate\nand\neffective\nsystem\nof\ninternal\ncontrols\nand\nWe\nacknowledge\nresponsibility\nunder\nsection\n7\nand\nsection\n11\nof\nthe\nFinancial\u0007and\u0007Performance\u0007Management\u0007Standard\u00072019\nCorporation’s\nassets\nand\nliabilities,\nfinancial\nposition\nand\nfinancial\nperformance\nfor\nthe\nyear\nended\n30\nJune\n2022.\n(ii)\nt\nhe\nforegoing\nannual\nfinancial\nstatements\nhave\nbeen\ndrawn\nup\nso\nas\nto\npresent\na\ntrue\nand\nfair\nview\nof\nQueensland\nTreasury\nand\n(i)\nt\nhe\nprescribed\nrequirements\nfor\nestablishing\nand\nkeeping\nthe\naccounts\nhave\nbeen\ncomplied\nwith\nin\nall\nmaterial\nrespects,\nIn\naccordance\nwith\nsection\n62(1)(b)\nof\nthe\nAct we\n Source: `annual-reports/2021-22.pdf (https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf)`\n- The role of internal audit is to support ELIGIBLE\nQTC’s corporate governance framework by providing the Board POSITION ATTENDED TO ATTEND\n(through the Risk and Audit Committee) with: Board meetings held: 4\nn assurance that QTC has effective, efficient and economical Dennis Molloy, Deputy Under Treasurer1,2 Chair 0 0\ninternal controls in place to support the achievement of its\nMaryanne Kelly, Acting Under Treasurer1,3 Chair 0 1\nobjectives, including the management of risk, and\nMichael Carey, Under Treasurer1,4 Chair 3 3\nn advice with respect to QTC’s internal controls and business\nprocesses.\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- Meetings held\nBOARD FUNDING AND PEOPLE AND RISK AND\nMARKETS COMMITTEE CULTURE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 9 4 4 4\nELIGIBLE ELIGIBLE ELIGIBLE ELIGIBLE\nATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND ATTENDED TO ATTEND\nDamien Frawley 9 9 — — 4 4 3 4\nMicheal Carey1 2 2 0 2 — — — —\nRachel Crossland2 3 3 — — — — — —\nNeville Ide 8 9 4 4 — — 4 4\nNatalie Smith 8 9 — — 4 4 — —\nKaren Smith-Pomeroy 8 9 2 2 — — 4 4\nRosemary Vilgan 9 9 — — 4 4 4 4\nPaul Williams3 2 4 0 2 — — — —\nJohn Wilson 7 9 4 4 4 4 — —\n1 This position is an ex officio appointment within Queensland Treasury.\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n\n## Corporate Values and Operating Culture\n\n- [Page 31]\nQUEENSLAND TREASURY CORPORATION | ANNUAL REPORT 2020–21\nNotes to the Financial Statements 29\nFor the year ended 30 June 2021\n2 Significant accounting policies and other explanatory information\nThe principal accounting policies adopted in the preparation of the (d) Financial assets and liabilities\nfinancial report are set out below and in the relevant notes to the Financial assets on initial recognition are classified at fair value through\nfinancial statements. profit or loss and include:\n(a) Basis of preparation § cash and cash equivalents\nThese general purpose financial statements for the year ended 30 June § financial assets at fair value through profit or loss\n2021 have been prepared in accordance with Australian Accounting\nStandards (AASB) and interpretations adopted by the Australian Accounting § derivative financial instruments, and\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- The Committee meets at least four\nincluding culture, values and behaviours, leadership, talent times each calendar year.\nmanagement, employee engagement, remuneration,\nDuring the year, the Risk and Audit Committee recommended\nworkforce planning and organisation design\nthe adoption of annual financial statements, reviewed external\nn human resources-related key policies and compliance with and internal audit reports and the progress in implementing the\nrelevant legislation\nrecommendations from those reports, approved QTC’s Internal\nn QTC’s risk appetite and strategies for human resources key Audit Plan and reviewed the Queensland Audit Office’s External\nrisk areas Audit Plan.\nn performance and remuneration frameworks and processes,\nand associated budget oversight\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- 7 Financial assets at fair value through profit or loss 33\nCapital Markets Operations\n8 Derivative financial assets and derivative financial liabilities 33\nThe remit of Capital Markets Operations includes debt funding, cash\n9 Onlendings 34 management, financial advisory and risk management services, and the\n10 Financial liabilities at fair value through profit or loss 34 custodian service for Australian Carbon Credit Units (ACCUs) on behalf of\nthe Queensland Government.\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n- In addition, QTC provides a dedicated advisory\n11 Financial risk management 36\nservice that works in partnership with government clients to solve complex\n12 Fair value hierarchy 43 issues aligned with Queensland Government’s priorities and uplift public sector\n13 Notes to the statement of cash flows 45 financial and risk management capability.\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n- Board Committee\nChairperson $100, 527 Chairperson $6,658\nPublic Sector Ethics Act\nMember $33,551 Member $5,152\nQTC provides the following information pursuant to\nobligations under section 23 of the Public Sector Ethics Act\nThe total remuneration payments made to the members of\n1994 (Qld) to report on action taken to comply with certain\nthe QTC Capital Markets Board was $337,873 and the total\nsections of the Act.\non-costs (including travel, accommodation, car parking and\nQTC employees are required to comply with QTC’s Code professional memberships for members) was $12,485.\nof Conduct for employees, which aligns with the ethics\nFor the year ending 30 June 2021, the remuneration and\nprinciples and values in the Public Sector Ethics Act 1994\ncommittee fees of the QTC State Investment Advisory Board\n(Qld), as well as the Code of Conduct established by the\n Source: `annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)`\n- The total remuneration payments made to the members of\nPublic Sector Ethics Act the QTC Capital Markets Board was $334,290 and the total\non-costs (including travel, accommodation, car parking and\nQTC provides the following information pursuant to\nprofessional memberships for members) was $25,491.\nobligations under section 23 of the Public Sector Ethics Act\n1994 (Qld) to report on action taken to comply with certain For the year ending 30 June 2022, the remuneration and\nsections of the Act. committee fees of the QTC State Investment Advisory Board\nmembers (excluding superannuation contributions and non-\nQTC employees are required to comply with QTC’s Code of\nmonetary benefits) were as follows:\nConduct, which aligns with the ethics principles and values in\nBoard\nthe Public Sector Ethics Act 1994 (Qld), as well as the Code of\n Source: `annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)`\n- [Page 55]\nNotes to the Financial Statements\nOther information\nFor the year ended 30 June 2024\n20 Key management personnel continued\n(c) Remuneration by category\n2024 2023\n$ $\nCapital Markets Operations\nDirectors\nShort-term employment benefits (1) 449 624 317 131\nPost-employment benefits (4) 47 973 31 765\nTotal 497 597 348 896\nExecutive management\nShort-term employment benefits (2) 3 320 459 2 912 362\nLong-term employment benefits (3) 388 049 120 460\nPost-employment benefits (4) 123 295 166 769\nEx-gratia payments - 650 570\nTermination benefits - 1 103 888\nTotal 3 831 803 4 954 049\n2024 2023\n$ $\nState Investment Operations\nDirectors\nShort-term employment benefits (1) 200 590 99 054\nPost-employment benefits (4) 22 065 10 401\nTotal 222 655 109 455\n Source: `annual-reports/2023-24.pdf (https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf)`\n- [Page 56]\nNotes to the Financial Statements\nOther Information\nFor the year ended 30 June 2025\n19 Key management personnel continued\n(c) Remuneration by category\n2025 2024\nCAPITAL MARKETS OPERATIONS\n$ $\nDirectors\nShort-term employment benefits(1) 490 819 449 624\nPost-employment benefits(4) 54 869 47 973\nTotal 545 688 497 597\nExecutive management\nShort-term employment benefits(2) 3 587 027 3 320 459\nLong-term employment benefits(3) 219 989 388 049\nPost -employment benefits(4) 166 958 123 295\nSpecial payments(5) 770 137 -\nTermination benefits(6) 542 588 -\nTotal 5 286 699 3 831 803\n2025 2024\nSTATE INVESTMENT OPERATIONS\n$ $\nDirectors\nShort-term employment benefits(1) 230 000 200 590\nPost-employment benefits(4) 26 448 22 065\nTotal 256 448 222 655\n Source: `annual-reports/2024-25.pdf (https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf)`\n\n## Global Ideas and Case Study Inputs\n\n_No global-intelligence source text found yet. Run `CLAUDE/global-ideas-scraper.py ` to populate case-study sources._\n\n## Source Artifacts Used\n\n- `annual-reports/2020-21.pdf` - annual-reports - https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf\n- `annual-reports/2021-22.pdf` - annual-reports - https://www.qtc.com.au/wp-content/uploads/2022/08/QTC-Annual-Report-2021-22.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://www.qtc.com.au/wp-content/uploads/2024/09/QTC-Annual-Report-2023–24.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf\n- `pages/about.html` - pages - https://www.qtc.com.au/\n- `pages/announcements-index.html` - pages - https://www.qtc.com.au/institutional-investors/news-and-publications/recent-announcements/\n- `pages/announcements-index__14.html` - pages - https://www.qtc.com.au/institutional-investors/news-and-publications/recent-announcements/\n- `pages/announcements-index__15.html` - pages - https://www.qtc.com.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.qtc.com.au%2Finstitutional-investors%2Fnews-and-publications%2Frecent-announcements%2F\n- `pages/announcements-index__16.html` - pages - https://www.qtc.com.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.qtc.com.au%2Finstitutional-investors%2Fnews-and-publications%2Frecent-announcements%2F&format=xml\n- `pages/announcements-index__17.html` - pages - https://www.qtc.com.au/wp-content/themes/qtc-website/dist/styles/main.css?20200831\n- `pages/announcements-index__18.html` - pages - https://www.qtc.com.au/about-qtc/2017-present/\n- `pages/announcements-index__19.html` - pages - https://www.qtc.com.au/about-qtc/2012-2016/\n- `pages/announcements-index__20.html` - pages - https://www.qtc.com.au/about-qtc/2008-2011/\n- `pages/announcements-index__21.html` - pages - https://www.qtc.com.au/about-qtc/2002-2007/\n- `pages/announcements-index__22.html` - pages - https://www.qtc.com.au/about-qtc/1997-2001/\n- `pages/annual-reports-index.html` - pages - https://www.qtc.com.au/\n- `pages/annual-reports-index__00.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2024-25\n- `pages/annual-reports-index__01.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2023-24/\n- `pages/annual-reports-index__02.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2022-23/\n- `pages/annual-reports-index__03.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2021-22/\n- `pages/annual-reports-index__04.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2020-21/\n- `pages/annual-reports-index__05.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2019-20/\n- `pages/annual-reports-index__06.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2018-19/\n- `pages/annual-reports-index__07.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2017-18/\n- `pages/annual-reports-index__08.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2016-17/\n- `pages/annual-reports-index__09.html` - pages - https://www.qtc.com.au/annual-reports/qtc-half-yearly-report-july-december-2016/\n- `pages/annual-reports-index__10.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2015-16/\n- `pages/annual-reports-index__11.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2014-15/\n- `pages/annual-reports-index__12.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2013-14/\n- `pages/annual-reports-index__13.html` - pages - https://www.qtc.com.au/annual-reports/annual-report-2012-13/\n- `pages/contact.html` - pages - https://www.qtc.com.au/contact/\n- `pages/homepage.html` - pages - https://www.qtc.com.au/\n- `pages/publications-index.html` - pages - https://www.qtc.com.au/institutional-investors/news-and-publications/subscribe/\n- `other-pdfs/15-QTC-AR-2019-20-Indepent-Auditors-Report.pdf` - other-pdfs - https://www.qtc.com.au/wp-content/uploads/2020/09/15-QTC-AR-2019-20-Indepent-Auditors-Report.pdf\n- `other-pdfs/QTC-AR-2019-20-Financials.pdf` - other-pdfs - https://www.qtc.com.au/wp-content/uploads/2020/09/QTC-AR-2019-20-Financials.pdf\n- `other-pdfs/Financial-Statements-for-the-2021-22-Financial-Year.pdf` - other-pdfs - https://www.qtc.com.au/wp-content/uploads/2022/09/Financial-Statements-for-the-2021-22-Financial-Year.pdf\n- `other-pdfs/Independent-Auditors-Report-for-the-2021-22-Financial-Year.pdf` - other-pdfs - https://www.qtc.com.au/wp-content/uploads/2022/09/Independent-Auditors-Report-for-the-2021-22-Financial-Year.pdf\n\n## Gaps To Fix\n\n- No corporate plan text source found.\n- No global comparison/case-study sources found.", "legislation_md": "# Queensland Treasury Corporation - Acts and Legislation Discovery\n\n**Generated at**: 2026-05-09T21:37:41.899392+00:00\n**Entity ID**: S-QLD-045\n**Jurisdiction**: Queensland\n**Portfolio**: Treasurer\n\n> This is an evidence-based discovery list from scraped department material. A mention does not always mean the department administers the legislation; high-confidence and official register links should be reviewed.\n\n## Summary\n\n- Source files scanned: 38\n- Unique legislation references found: 38\n\n| Type | Count |\n|---|---:|\n| Act | 31 |\n| Order | 1 |\n| Scheme | 1 |\n| Standard | 5 |\n\n## Legislation References\n\n### Financial Accountability Act 2009\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 63\n**Register search**: https://www.legislation.qld.gov.au/search?query=Financial+Accountability+Act+2009\n\n**Sources**:\n- `pages/annual-reports-index__00.html`\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n\n**Evidence contexts**:\n- sbane QLD 4001\nDear Treasurer\nI am pleased to submit for presentation to the Parliament the Annual Report 2024-25 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2019, and\nthe detailed requirements set out in the Annual Report requirements for Queensland Government agencies.\nA checklist outlining the annual reporting requirements can be found on page 70 of this Ann\n Source: `pages/annual-reports-index__00.html`\n- Box 611\nBrisbane QLD 4001\nDear Deputy Premier\nI am pleased to present to the parliament the Annual Report 2023–24 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the\nFinancial Accountability Act 2009\nand the\nFinancial and Performance Management Standard 2019\n, and\nthe detailed requirements set out in the\nAnnual Report requirements for Queensland Government agencies.\nA checklist outlining the annual reporting requirements can be found at page 66 of this An\n Source: `pages/annual-reports-index__01.html`\n- t 2023–24_financial_statements\n(Download pdf, 2,059KB)\nCertificate of the Queensland Treasury Corporation\nCertificate of the Queensland Treasury Corporation\nThe foregoing general purpose financial statements have been prepared pursuant to section 62(1) of the\nFinancial Accountability Act 2009\n(the FA Act), section 39 of the\nFinancial and Performance Management Standard 2019\nand other prescribed requirements.\nThe Directors draw attention to note 2(a) to the financial statements, which includes a statement of compliance with International Financial\n Source: `pages/annual-reports-index__01.html`\n- 39 and 46\nARRs – section 17.1\nPage 58\nIndependent Auditor’s Report\nFAA – section 62\nFPMS – section 46\nARRs – section 17.2\nPages 59-62\nNote\n: This checklist excludes reference to any requirements that do not apply to QTC for the current reporting period.\nFAA: Financial Accountability Act 2009\nFPMS: Financial and Performance Management Standard 2019\nARRs: Annual report requirements for Queensland Government agencies\nAppendix D – Contacts\nAppendix D – Contacts\nQueensland Treasury Corporation\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nG\n Source: `pages/annual-reports-index__01.html`\n- e QLD 4001\nDear Treasurer and Minister for Trade and Investment\nI am pleased to present the Annual Report 2022–23 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the\nFinancial Accountability Act 2009\nand the\nFinancial and Performance Management Standard 2019\n, and\nthe detailed requirements set out in the\nAnnual Report requirements for Queensland Government agencies\n.\nA checklist outlining the annual reporting requirements can be found at page 66 of this A\n Source: `pages/annual-reports-index__02.html`\n\n### Financial and Performance Management Standard 2019\n\n**Type**: Standard\n**Confidence**: high\n**Mentions**: 48\n**Register search**: https://www.legislation.qld.gov.au/search?query=Financial+and+Performance+Management+Standard+2019\n\n**Sources**:\n- `pages/annual-reports-index__00.html`\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- to submit for presentation to the Parliament the Annual Report 2024-25 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2019, and\nthe detailed requirements set out in the Annual Report requirements for Queensland Government agencies.\nA checklist outlining the annual reporting requirements can be found on page 70 of this Annual Report.\nYours sincerely\nDamien Frawley\nChair\nQueensland\n Source: `pages/annual-reports-index__00.html`\n- ef Risk Officer\nStephanie Challen\nActing Managing Director – Business Services, and Chief Operating Officer\nLona Baskerville\nChief People Officer\n1\nCommenced on 30 June 2025\n2\nActing Chief Executive Officer from 19 February 2025 to 29 June 2025\nInternal audit\nThe\nFinancial and Performance Management Standard 2019 (Qld)\n(Standard) governs the operation of QTC’s internal audit function. QTC outsourced its independent internal audit function for the 2024–25 financial year. Internal Audit reports to the Board, via the Risk and Audit Committee, consistent with the relevant\n Source: `pages/annual-reports-index__00.html`\n- ier\nI am pleased to present to the parliament the Annual Report 2023–24 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the\nFinancial Accountability Act 2009\nand the\nFinancial and Performance Management Standard 2019\n, and\nthe detailed requirements set out in the\nAnnual Report requirements for Queensland Government agencies.\nA checklist outlining the annual reporting requirements can be found at page 66 of this Annual Report.\nSincerely\nDamien Frawley\nChair\nQueensland Trea\n Source: `pages/annual-reports-index__01.html`\n- g Director – Funding and Markets\nStephanie Challen\nManaging Director – Advisory\nNathan Cowen\nManaging Director – Risk, and Chief Risk Officer\nKulwant Singh-Pangly\nManaging Director – Business Services, and Chief Operating Officer\nInternal audit\nInternal audit\nThe Financial and Performance Management Standard 2019\n(Qld) (Standard) governs the operation of QTC’s internal audit function. QTC outsourced its independent internal audit function for the 2023–24 financial year. Internal Audit reports to the Risk and Audit Committee, consistent with the relevant audit and ethi\n Source: `pages/annual-reports-index__01.html`\n- of the Queensland Treasury Corporation\nCertificate of the Queensland Treasury Corporation\nThe foregoing general purpose financial statements have been prepared pursuant to section 62(1) of the\nFinancial Accountability Act 2009\n(the FA Act), section 39 of the\nFinancial and Performance Management Standard 2019\nand other prescribed requirements.\nThe Directors draw attention to note 2(a) to the financial statements, which includes a statement of compliance with International Financial Reporting Standards.\nIn accordance with section 62(1)(b) of the FA Act we certify t\n Source: `pages/annual-reports-index__01.html`\n\n### Queensland Treasury Corporation Act 1988\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 45\n**Register search**: https://www.legislation.qld.gov.au/search?query=Queensland+Treasury+Corporation+Act+1988\n\n**Sources**:\n- `pages/annual-reports-index__00.html`\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__09.html`\n\n**Evidence contexts**:\n- rporation\nQueensland Treasury Corporation\nQueensland Treasury Corporation (QTC) has a statutory responsibility to advance the financial position of the State. It also manages and minimises financial risks in the Queensland public sector. Established under the\nQueensland Treasury Corporation Act 1988\n(QTC Act), QTC is a corporation sole, reporting through the Under Treasurer to the Treasurer and the Queensland Parliament.\nPurpose\nWe create value for all Queenslanders through our trusted financial expertise\nVision\nProtecting and advancing Queensland’s fina\n Source: `pages/annual-reports-index__00.html`\n- cted in the public sector to support the achievement of QTC’s objectives in accordance with legislative and regulatory obligations, fulfillment of QTC’s purpose and maintenance of the corporation’s sustainability.\nQTC and its Boards\nQTC was established by the Queensland Treasury Corporation Act 1988 (the QTC Act) as a corporation sole (ie, a corporation that consists solely of a nominated office holder). The Under Treasurer of Queensland is QTC’s nominated office holder and has delegated powers to its two Boards:\nthe Queensland Treasury Corporation Capit\n Source: `pages/annual-reports-index__00.html`\n- ation\nQueensland Treasury Corporation\nThe Queensland Treasury Corporation (QTC) has a statutory responsibility to advance the financial position\nof the State. It also manages and minimises financial risks in the Queensland public sector. Established under the\nQueensland Treasury Corporation Act 1988\n(QTC Act), QTC is a corporation sole, reporting through the Under Treasurer to the Treasurer and the Queensland Parliament.\nClient Centricity\nOur clients’ goals, as reflected in government priorities, are at the heart of all we do.\nGreat Place to Work\nWe are\n Source: `pages/annual-reports-index__01.html`\n- anisational goals are met, and proactively managing and monitoring risk. QTC’s corporate governance practices are continually reviewed and updated in line with industry guidelines and standards.\nQTC and its Boards\nQTC and its Boards\nQTC was established by the\nQueensland Treasury Corporation Act 1988\n(the QTC Act) as a corporation sole (ie, a corporation that consists solely of a nominated office holder). The Under Treasurer of Queensland is QTC’s nominated office holder and has delegated powers to its two Boards:\nthe Queensland Treasury Corporation Capit\n Source: `pages/annual-reports-index__01.html`\n- l Report.\nSincerely\nDamien Frawley\nChair\nQueensland Treasury Corporation\nQueensland Treasury Corporation\nQueensland Treasury Corporation (QTC) has a statutory responsibility to advance the financial position and development of the State. Established under the\nQueensland Treasury Corporation Act 1988\n, QTC is a corporation sole, reporting through the Under Treasurer to the Treasurer and the Queensland Parliament.\nVision\nProtecting and advancing Queensland’s financial interests\nMission\nTo deliver optimal financial outcomes through sound funding and financi\n Source: `pages/annual-reports-index__02.html`\n\n### Public Sector Ethics Act 1994\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 41\n**Register search**: https://www.legislation.qld.gov.au/search?query=Public+Sector+Ethics+Act+1994\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n- `pages/annual-reports-index__11.html`\n\n**Evidence contexts**:\n- of QTC records are created and managed digitally in QTC’s designated records management system. QTC continues to advance its information management maturity through enhancing enterprise-wide search, data classification, and reporting and records capabilities.\nPublic Sector Ethics Act 1994\nQTC provides the following information pursuant to obligations under section 23 of the\nPublic Sector Ethics Act 1994\n(Qld) (the Act) to report on action taken to comply with certain sections of the Act.\nQTC employees are required to comply with QTC’s Code of\n Source: `pages/annual-reports-index__01.html`\n- nce its information management maturity through enhancing enterprise-wide search, data classification, and reporting and records capabilities.\nPublic Sector Ethics Act 1994\nQTC provides the following information pursuant to obligations under section 23 of the\nPublic Sector Ethics Act 1994\n(Qld) (the Act) to report on action taken to comply with certain sections of the Act.\nQTC employees are required to comply with QTC’s Code of Conduct, which aligns with the ethics principles and values in the Act, as well as the Code of Conduct and market sta\n Source: `pages/annual-reports-index__01.html`\n- ches and continues to place focus on education, communication and evolving our technical environment to manage information and data security risk\n.\nPublic Sector Ethics Act\nQTC provides the following information pursuant to obligations under section 23 of the Public Sector Ethics Act 1994 (Qld) to report on action taken to comply with certain sections of the Act.\nQTC employees are required to comply with QTC’s Code of Conduct, which aligns with the ethics principles and values in the\nPublic Sector Ethics Act 1994 (Qld)\n, as well as the Code of\n Source: `pages/annual-reports-index__02.html`\n- ations under section 23 of the Public Sector Ethics Act 1994 (Qld) to report on action taken to comply with certain sections of the Act.\nQTC employees are required to comply with QTC’s Code of Conduct, which aligns with the ethics principles and values in the\nPublic Sector Ethics Act 1994 (Qld)\n, as well as the Code of Conduct and market standards established by the Australian Financial Markets Association of which QTC is a member. Both codes are available to employees via QTC’s intranet. A copy of QTC’s Code of Conduct can be inspected by con\n Source: `pages/annual-reports-index__02.html`\n- aches and continues to place focus on education, communication and evolving our technical environment to manage information and data security risk.\nPublic Sector Ethics Act\nQTC provides the following information pursuant to obligations under section 23 of the\nPublic Sector Ethics Act 1994\n(Qld) to report on action taken to comply with certain sections of the Act.\nQTC employees are required to comply with QTC’s Code of Conduct, which aligns with the ethics principles and values in the\nPublic Sector Ethics Act 1994\n(Qld), as well as the Code of\n Source: `pages/annual-reports-index__03.html`\n\n### Auditor-General Act 2009\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 22\n**Register search**: https://www.legislation.qld.gov.au/search?query=Auditor-General+Act+2009\n\n**Sources**:\n- `pages/annual-reports-index__00.html`\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n\n**Evidence contexts**:\n- team and the Risk and Audit Committee, and\nworking constructively with QTC’s management team to challenge and improve established and proposed practices and to put forward ideas for process improvement.\nExternal audit\nIn accordance with the provisions of the\nAuditor-General Act 2009\n, the Queensland Audit Office is the external auditor for QTC. The Queensland Audit Office has the responsibility for forming opinions about the reliability of QTC’s financial statements, along with other public sector entities, with the results of these fina\n Source: `pages/annual-reports-index__00.html`\n- isk and Audit Committee, and\nworking constructively with QTC’s management team to challenge and improve established and proposed practices and to put forward ideas for process improvement.\nExternal audit\nExternal audit\nIn accordance with the provisions of the\nAuditor-General Act 2009\n, the Queensland Audit Office is the external auditor for QTC. The Queensland Audit Office has the responsibility for forming opinions about the reliability of QTC’s financial statements, along with other public sector entities, with the results of these fina\n Source: `pages/annual-reports-index__01.html`\n- lished and proposed practices and to put forward ideas for process improvement\nIn the year under review, the internal audit was completed in accordance with the approved annual audit plan.\nExternal audit\nExternal audit\nIn accordance with the provisions of the\nAuditor-General Act 2009\n, the Queensland Audit Office is the external auditor for QTC. The Queensland Audit Office has the responsibility for forming opinions about the reliability of QTC’s financial statements, along with other public sector entities, with the results of these fina\n Source: `pages/annual-reports-index__02.html`\n- ished and proposed practices and to put forward ideas for process improvement.\nIn the year under review, EY completed its internal audits in accordance with the approved annual audit plan.\nExternal audit\nExternal audit\nIn accordance with the provisions of the\nAuditor-General Act 2009,\nthe Queensland Audit Office is the external auditor for QTC. The Queensland Audit Office has the responsibility for providing Queensland’s Parliament with assurances as to the adequacy of QTC’s discharge of its financial and administrative obligations.\nAll a\n Source: `pages/annual-reports-index__03.html`\n- ished and proposed practices and to put forward ideas for process improvement.\nIn the year under review, EY completed its internal audits in accordance with the approved annual audit plan.\nExternal audit\nExternal audit\nIn accordance with the provisions of the\nAuditor-General Act 2009\n, the Queensland Audit Office is the external auditor for QTC. The Queensland Audit Office has the responsibility for providing Queensland’s Parliament with assurances as to the adequacy of QTC’s discharge of its financial and administrative obligations.\nAll\n Source: `pages/annual-reports-index__04.html`\n\n### Financial and Performance Management Standard 2009\n\n**Type**: Standard\n**Confidence**: high\n**Mentions**: 22\n**Register search**: https://www.legislation.qld.gov.au/search?query=Financial+and+Performance+Management+Standard+2009\n\n**Sources**:\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n- `pages/annual-reports-index__11.html`\n- `pages/annual-reports-index__12.html`\n- `pages/annual-reports-index__13.html`\n- `other-pdfs/QTC-AR-2019-20-Financials.pages.jsonl`\n\n**Evidence contexts**:\n- dependent Auditor’s Report\nFAA – section 62\nFPMS – section 46\nARRs – section 17.2\nPages 58-62\nNote\n: This checklist excludes reference to any requirements that do not apply to QTC for the current reporting period.\nFAA: Financial Accountability Act 2009; FPMS: Financial and Performance Management Standard 2009;\nARRs: Annual report requirements for Queensland Government agencies\nAppendix D – Contacts\nAppendix D – Contacts\nQueensland Treasury Corporation\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nGPO Box 1096\nBrisbane Queensland\nAustralia 4001\nTelephone\n Source: `pages/annual-reports-index__05.html`\n- 1\nDear Deputy Premier\nI am pleased to present the Annual Report 2018–19 and financial statements for\nQueensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the\nFinancial Accountability Act 2009\nand the\nFinancial and Performance Management Standard 2009\n, and\nthe detailed requirements set out in the\nAnnual Report requirements\nfor Queensland Government agencies\n.\nA checklist outlining the annual reporting requirements can be found at page 58 of this Annual Report or accessed at\nwww.qtc.com.au\n.\nSincerely\nGera\n Source: `pages/annual-reports-index__06.html`\n- or providing Queensland’s Parliament with assurances as to the adequacy of QTC’s discharge of its financial and administrative obligations.\nAll significant audit recommendations raised by the Queensland Audit Office during the reporting period were addressed.\nThe\nFinancial and Performance Management Standard 2009 (Qld)\ngoverned the operation of QTC’s internal audit function for the 2018–19 financial year. QTC outsourced its independent internal audit function to Ernst and Young (EY) for the 2018–19 financial year. Internal audit reports to the Risk and Audit Committee\n Source: `pages/annual-reports-index__06.html`\n- dependent Auditor’s Report\nFAA – section 62\nFPMS – section 50\nARRs – section 17.2\nPages 51-54\nNote\n: This checklist excludes reference to any requirements that do not apply to QTC for the current reporting period.\nFAA: Financial Accountability Act 2009; FPMS: Financial and Performance Management Standard 2009;\nARRs: Annual report requirements for Queensland Government agencies\nAppendix D – Contacts\nAppendix D – Contacts\nQueensland Treasury Corporation\nLevel 31, 111 Eagle Street\nBrisbane Queensland Australia\nGPO Box 1096\nBrisbane Queensland\nAustralia 4001\nTelephone\n Source: `pages/annual-reports-index__06.html`\n- D 4001\nDear Treasurer\nI am pleased to present the Annual Report 2017–18 and financial statements for Queensland Treasury Corporation.\nI certify that this Annual Report complies with:\nthe prescribed requirements of the\nFinancial Accountability Act 2009\nand the\nFinancial and Performance Management Standard 2009\n, and\nthe detailed requirements set out in the\nAnnual Report requirements for Queensland Government agencies\n.\nA checklist outlining the annual reporting requirements can be found at page 58 of this Annual Report or accessed at\nwww.qtc.com.au\n.\nSincerely\nGera\n Source: `pages/annual-reports-index__07.html`\n\n### Public Records Act 2002\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 15\n**Register search**: https://www.legislation.qld.gov.au/search?query=Public+Records+Act+2002\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n- `pages/annual-reports-index__11.html`\n\n**Evidence contexts**:\n- website.\nQTC is committed to providing accessible services to Queensland residents from culturally and linguistically diverse backgrounds. QTC did not receive any requests for interpreters in 2023–24.\nInformation systems and record keeping\nQTC adheres to the\nPublic Records Act 2002\nand the General Retention and Disposal Schedule with respect to information and records management. No serious breaches of QTC’s information were experienced during the reporting period.\nQTC has embarked on a program of work to continuously build upon and imp\n Source: `pages/annual-reports-index__01.html`\n- cord keeping\nInformation and Data are vital assets and QTC is committed to continuously improving and maintaining information and data management practices that meet its business needs, legislative requirements and stakeholder expectations. QTC adheres to the Public Records Act 2002 and the General Retention and Disposal Schedule with respect to information and records management.\nQTC continues to evolve its electronic document and information management systems for improved management of both digital and physical records particularly in\n Source: `pages/annual-reports-index__02.html`\n- cord keeping\nInformation and Data are vital assets and QTC is committed to continuously improving and maintaining information and data management practices that meet its business needs, legislative requirements and stakeholder expectations. QTC adheres to the\nPublic Records Act 2002\nand the General Retention and Disposal Schedule with respect to information and records management.\nQTC continues to evolve its electronic document and information management systems for improved management of both digital and physical records particularly in\n Source: `pages/annual-reports-index__03.html`\n- viding accessible services to Queensland residents from culturally and linguistically diverse backgrounds. QTC did not receive any requests for interpreters and there was no overseas travel in 2020–21.\nInformation systems and record keeping\nQTC adheres to the\nPublic Records Act 2002\nand the General Retention and Disposal Schedule with respect to information and records management.\nQTC continues to evolve its electronic document and information management systems for improved management of both digital and physical records particularly in\n Source: `pages/annual-reports-index__04.html`\n- website.\nQTC is committed to providing accessible services to Queensland residents from culturally and linguistically diverse backgrounds. QTC did not receive any requests for interpreters in 2019–20.\nInformation systems and record keeping\nQTC adheres to the\nPublic Records Act 2002\nand the General Retention and Disposal Schedule with respect to information and records management.\nQTC has enhanced its electronic document and information management systems for improved management of both digital and physical records particularly in relati\n Source: `pages/annual-reports-index__05.html`\n\n### Queensland Future Fund Act 2020\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 14\n**Register search**: https://www.legislation.qld.gov.au/search?query=Queensland+Future+Fund+Act+2020\n\n**Sources**:\n- `pages/annual-reports-index__04.html`\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/Financial-Statements-for-the-2021-22-Financial-Year.pages.jsonl`\n\n**Evidence contexts**:\n- f the financial assets set aside by the Queensland Government to meet future employee liabilities and other long-term obligations of the State\nproviding governance oversight of the financial assets that relate to the Debt Retirement Fund established under the\nQueensland Future Fund Act 2020\n, and\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB member\n Source: `pages/annual-reports-index__04.html`\n- al assets that Prior to his current role, Mr Ryan held senior leadership roles\nrelate to the Debt Retirement Fund established under the in Queensland Treasury over a 19-year career. These roles have\nincluded developing investment programs, financial assurance\nQueensland Future Fund Act 2020, and\nmodelling, infrastructure program and economic policy analysis.\nn providing investment governance assistance in connection\nwith the Financial Provisioning Fund established under\nMARIA WILTON AM\nthe Mineral and Energy Resources (Financial Provisioning)\nBE\n Source: `annual-reports/2020-21.pages.jsonl`\n- ative financial assets and derivative financial liabilities 33\nQueensland Future Fund\n9 Onlendings 34\nThe QFF and its sub fund, the Debt Retirement Fund (DRF) were\n10 Financial liabilities at fair value through profit or loss 34 established as funds under the Queensland Future Fund Act 2020.\n11 Financial risk management 36 The DRF was set up to support both the State’s credit rating and generate\nreturns to reduce the State’s debt burden. The initial investment in the\n12 Fair value hierarchy 41 DRF was a transfer of $1 billion from the surplus as\n Source: `annual-reports/2020-21.pages.jsonl`\n- erannuation scheme.\n16 Financial instruments at fair value through profit or loss 45 Withdrawals from the DRF are limited to amounts to reduce the State’s\ndebt, and fees or expenses associated with administering the fund by the\n17 Financial risk management 47 Queensland Future Fund Act 2020.\n18 Fair value hierarchy 48\nFixed Rate Notes\nA Fixed Rate Note (FRN) has been issued by QTC for each of the\nOther information portfolios of SIO in return for the transfer of assets from the State.\n19 Contingent liabilities 50 The FRN issued to match the LTA p\n Source: `annual-reports/2020-21.pages.jsonl`\n- d $118.6 million in securities of strategic holdings\nin April 2022.\n15 Notes to the statement of cash flows 47\nQueensland Future Fund\nState Investment Operations The QFF and its sub portfolio, the Debt Retirement Fund (DRF) were\nestablished as funds under the Queensland Future Fund Act 2020.\n16 Financial instruments at fair value through profit or loss 48 The DRF was set up to support both the State’s credit rating and generate\n17 Financial risk management 51 returns to reduce the State’s debt burden.\n18 Fair value hierarchy 52 Withdrawals from\n Source: `annual-reports/2021-22.pages.jsonl`\n\n### Human Rights Act 2019\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 11\n**Register search**: https://www.legislation.qld.gov.au/search?query=Human+Rights+Act+2019\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- h due care, diligence and skill.\nQTC’s Compliance Policy requires that QTC and all employees comply with the letter and the spirit of all laws and regulations, industry standards, and relevant government policies, as well as QTC’s own policies and procedures.\nHuman Rights Act 2019\nQTC’s strategic and operational plans are in line with the objectives of the\nHuman Rights Act 2019\n(the Act). The plans aim to ensure QTC is respecting, protecting and promoting human rights in decision-making and actions.\nThe Act requires QTC to consider hum\n Source: `pages/annual-reports-index__01.html`\n- with the letter and the spirit of all laws and regulations, industry standards, and relevant government policies, as well as QTC’s own policies and procedures.\nHuman Rights Act 2019\nQTC’s strategic and operational plans are in line with the objectives of the\nHuman Rights Act 2019\n(the Act). The plans aim to ensure QTC is respecting, protecting and promoting human rights in decision-making and actions.\nThe Act requires QTC to consider human rights when performing functions of a public nature and only limit human rights after careful co\n Source: `pages/annual-reports-index__01.html`\n- h the letter and the spirit of all relevant laws and regulations, industry standards, and relevant government policies, as well as QTC’s own policies and procedures.\nHuman Rights Act\nQTC’s strategic and operational plans are in line with the objectives of the Human Rights Act 2019 (the Act). The plans aim to ensure QTC is respecting, protecting and promoting human rights in decision making and actions.\nThe Act requires QTC to consider human rights when performing functions of a public nature and only limit human rights after careful co\n Source: `pages/annual-reports-index__02.html`\n- h the letter and the spirit of all relevant laws and regulations, industry standards, and relevant government policies, as well as QTC’s own policies and procedures.\nHuman Rights Act\nQTC’s strategic and operational plans are in line with the objectives of the\nHuman Rights Act 2019\n(the Act). The plans aim to ensure QTC is respecting, protecting and promoting human rights in decision making and actions.\nThe Act requires QTC to consider human rights when performing functions of a public nature and only limit human rights after careful co\n Source: `pages/annual-reports-index__03.html`\n- h the letter and the spirit of all relevant laws and regulations, industry standards, and relevant government policies, as well as QTC’s own policies and procedures.\nHuman Rights Act\nQTC’s strategic and operational plans are in line with the objectives of the Human Rights Act 2019 (the Act). The plans aim to ensure QTC is respecting, protecting and promoting human rights in decision making and actions.\nThe Act requires QTC to consider human rights when performing functions of a public nature and only limit human rights after careful co\n Source: `pages/annual-reports-index__04.html`\n\n### Human Rights Human Rights Act 2019\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 9\n**Register search**: https://www.legislation.qld.gov.au/search?query=Human+Rights+Human+Rights+Act+2019\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- Financial Statements: Pages 28-57\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 16-21\nExecutive management\nARRs – section 13.2\nPage 20\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 13, 17\nAudit committee\nARRs – section 14.2\nPage 17\nInternal audit\nARRs – section 14.3\nPage 20\nInformation systems and record keeping\nARRs\n Source: `pages/annual-reports-index__01.html`\n- Financial Statements: Pages 30-57\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 16-20\nExecutive management\nARRs – section 13.2\nPage 20\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 13, 17\nAudit committee\nARRs – section 14.2\nPages 19\nInternal audit\nARRs – section 14.3\nPage 20\nInformation systems and record keeping\nARR\n Source: `pages/annual-reports-index__02.html`\n- Financial Statements: Pages 28-50\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 17-21\nExecutive management\nARRs – section 13.2\nPage 21\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 14, 18\nAudit committee\nARRs – section 14.2\nPages 18\nInternal audit\nARRs – section 14.3\nPage 1\nInformation systems and record keeping\nARRs\n Source: `pages/annual-reports-index__03.html`\n- Financial Statements: Pages 28-50\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 17-21\nExecutive management\nARRs – section 13.2\nPage 21\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 14, 18\nAudit committee\nARRs – section 14.2\nPages 18\nInternal audit\nARRs – section 14.3\nPage 1\nInformation systems and record keeping\nARRs\n Source: `pages/annual-reports-index__04.html`\n- atements: Pages 30-56\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 18-23\nExecutive management\nARRs – section 13.2\nPage 21-23\nPublic Sector Ethics Act 1994\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 16\nAudit committee\nARRs – section 14.2\nPages 19\nInternal audit\nARRs – section 14.3\nPage 20-21\nInformation systems and record keeping\nARRs\n Source: `pages/annual-reports-index__05.html`\n\n### Energy Resources (Financial Provisioning) Act 2018\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 8\n**Register search**: https://www.legislation.qld.gov.au/search?query=Energy+Resources+%28Financial+Provisioning%29+Act+2018\n\n**Sources**:\n- `pages/annual-reports-index__00.html`\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- te\noversight of the financial assets set aside to support long-term initiatives of the Queensland Government, and\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB members are appointed by the Governor-in-Council, in accordance with section 10(2) of the QTC Act.\nRemuneration for the SIAB members is determined by the Governor-in-Council.\nPosition\nAttende\n Source: `pages/annual-reports-index__00.html`\n- ce oversight of the financial assets set aside to support long-term initiatives of the Queensland Government, and\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB members are appointed by the Governor-in-Council, pursuant to section 10(2) of the QTC Act.\nRemuneration for the SIAB members is determined by the Governor-in-Council. In 2023–24, the members\n Source: `pages/annual-reports-index__01.html`\n- ernance oversight of the financial assets set aside to support long term initiatives of the Queensland Government\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB members are appointed by the Governor-in-Council, pursuant to section 10(2) of the QTC Act.\nRemuneration for the SIAB members is determined by the Governor-in-Council. In 2022–23, the members\n Source: `pages/annual-reports-index__02.html`\n- ernance oversight of the financial assets set aside to support long term initiatives of the Queensland Government\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB members are appointed by the Governor-in-Council, pursuant to section 10(2) of the QTC Act. Remuneration for the SIAB members is determined by the Governor-in-Council. In 2021–22, the members\n Source: `pages/annual-reports-index__03.html`\n- ancial assets that relate to the Debt Retirement Fund established under the\nQueensland Future Fund Act 2020\n, and\nproviding investment governance assistance in connection with the Financial Provisioning Fund established under the\nMineral and Energy Resources (Financial Provisioning) Act 2018\nand the National Injury Insurance Scheme Fund, Queensland.\nThe SIAB members are appointed by the Governor-in-Council, pursuant to section 10(2) of the QTC Act. Remuneration for the SIAB members is determined by the Governor-in-Council. The members of the SIAB\n Source: `pages/annual-reports-index__04.html`\n\n### Public Sector Ethics Public Sector Ethics Act 1994\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 6\n**Register search**: https://www.legislation.qld.gov.au/search?query=Public+Sector+Ethics+Public+Sector+Ethics+Act+1994\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- FORMANCE\nSummary of financial performance\nARRs – section 12.1\nPages 6-7, Notes to Financial Statements: Pages 28-57\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 16-21\nExecutive management\nARRs – section 13.2\nPage 20\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 13, 17\nAudit committee\nARRs – section 14.2\nPage 17\nInternal audit\nARRs\n Source: `pages/annual-reports-index__01.html`\n- FORMANCE\nSummary of financial performance\nARRs – section 12.1\nPages 6-7, Notes to Financial Statements: Pages 30-57\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 16-20\nExecutive management\nARRs – section 13.2\nPage 20\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 13, 17\nAudit committee\nARRs – section 14.2\nPages 19\nInternal audit\nARRs\n Source: `pages/annual-reports-index__02.html`\n- FORMANCE\nSummary of financial performance\nARRs – section 12.1\nPages 6-7, Notes to Financial Statements: Pages 28-50\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 17-21\nExecutive management\nARRs – section 13.2\nPage 21\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 14, 18\nAudit committee\nARRs – section 14.2\nPages 18\nInternal audit\nARRs\n Source: `pages/annual-reports-index__03.html`\n- FORMANCE\nSummary of financial performance\nARRs – section 12.1\nPages 6-7, Notes to Financial Statements: Pages 28-50\nGOVERNANCE – MANAGEMENT AND STRUCTURE\nOrganisational structure\nARRs – section 13.1\nPages 17-21\nExecutive management\nARRs – section 13.2\nPage 21\nPublic Sector Ethics\nPublic Sector Ethics Act 1994\nARRs – section 13.4\nAppendix A\nHuman Rights\nHuman Rights Act 2019\nARRs – section 13.5\nAppendix A\nGOVERNANCE –  RISK MANAGEMENT AND  ACCOUNTABILITY\nRisk management\nARRs – section 14.1\nPage 14, 18\nAudit committee\nARRs – section 14.2\nPages 18\nInternal audit\nARRs\n Source: `pages/annual-reports-index__04.html`\n- mary of financial performance ARRs – section 12.1 Pages 6-7, Notes to Financial\nperformance Statements: Pages 28-57\nGovernance – Organisational structure ARRs – section 13.1 Pages 16-21\nmanagement\nand structure Executive management ARRs – section 13.2 Page 20\nPublic Sector Ethics Public Sector Ethics Act 1994 Appendix A\nARRs – section 13.4\nHuman Rights Human Rights Act 2019 Appendix A\nARRs – section 13.5\nGovernance – Risk management ARRs – section 14.1 Pages 13, 17\nrisk management\nand accountability Audit committee ARRs – section 14.2 Page 17\nInternal audit ARRs –\n Source: `annual-reports/2023-24.pages.jsonl`\n\n### Under the Queensland Treasury Corporation Act 1988\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 6\n**Register search**: https://www.legislation.qld.gov.au/search?query=Under+the+Queensland+Treasury+Corporation+Act+1988\n\n**Sources**:\n- `pages/annual-reports-index__01.html`\n- `pages/annual-reports-index__02.html`\n- `pages/annual-reports-index__03.html`\n- `pages/annual-reports-index__04.html`\n- `pages/annual-reports-index__05.html`\n- `pages/annual-reports-index__06.html`\n\n**Evidence contexts**:\n- continued to focus on supporting a dynamic workforce. A focus throughout 2023–24 was relaunching and embedding the new QTC values as a key driver of culture and engagement.\nQTC competes in the financial sector to attract and retain its high calibre employees. Under the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC strategically reviewed its remuneration framework to ensure that our approach continues to reflect the expected standards f\n Source: `pages/annual-reports-index__01.html`\n- tralia’s best places to work, receiving the ‘2022 5-Star Employer of Choice’ award. HRD acknowledged QTC’s professional development programs and employee benefits.\nQTC competes in the global financial industry to attract and retain its high calibre employees. Under the Queensland Treasury Corporation Act 1988, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s remuneration framework is one of the elements for attracting and retaining talented employees.\nTotal compensation is bench\n Source: `pages/annual-reports-index__02.html`\n- gations.\nHigh-performance workforce\nHigh-performance workforce\nQTC’s talent, engagement and development practices continue to support a high-performance workforce.\nQTC competes in the global financial industry to attract and retain its high calibre employees. Under the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s remuneration framework is a key driver of attracting and retaining our high-performing employees and enabling our culture\n Source: `pages/annual-reports-index__03.html`\n- gations.\nHigh-performance workforce\nHigh-performance workforce\nQTC’s talent, engagement and development practices continue to support a high-performance workforce.\nQTC competes in the global financial industry to attract and retain its high calibre employees. Under the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s remuneration framework is a key driver of attracting and retaining our high-performing employees and enabling our culture\n Source: `pages/annual-reports-index__04.html`\n- iquid financial securities to meet the State’s liquidity requirements, consistent with policy requirements.\nHigh performance workforce\nHigh performance workforce\nQTC competes with the global financial industry to attract and retain its high calibre employees. Under the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s Board regularly reviews QTC’s remuneration framework, with the total compensation package of employees comprising fixed a\n Source: `pages/annual-reports-index__05.html`\n\n### Act and the Financial and Performance Management Standard 2019\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.qld.gov.au/search?query=Act+and+the+Financial+and+Performance+Management+Standard+2019\n\n**Sources**:\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/Independent-Auditors-Report-for-the-2021-22-Financial-Year.pages.jsonl`\n\n**Evidence contexts**:\n- to the establishment and keeping of\naccounts were complied with in all material respects.\nPrescribed requirements scope\nThe prescribed requirements for the establishment and keeping of accounts are contained in the\nFinancial Accountability Act 2009, any other Act and the Financial and Performance Management\nStandard 2019. The applicable requirements include those for keeping financial records that\ncorrectly record and explain the entity's transactions and account balances to enable the\npreparation of a true and fair financial report.\n19 August 2021\nBrendan Worrall Queensland\n Source: `annual-reports/2020-21.pages.jsonl`\n- to the establishment and keeping of\naccounts were complied with in all material respects.\nPrescribed requirements scope\nThe prescribed requirements for the establishment and keeping of accounts are contained in the\nFinancial Accountability Act 2009, any other Act and the Financial and Performance Management\nStandard 2019. The applicable requirements include those for keeping financial records that\ncorrectly record and explain the entity's transactions and account balances to enable the\npreparation of a true and fair financial report.\n22 August 2022\nBrendan Worrall Queensland\n Source: `annual-reports/2021-22.pages.jsonl`\n- to the establishment and\nkeeping of accounts were complied with in all material respects.\nPrescribed requirements scope\nThe prescribed requirements for the establishment and keeping of accounts are contained in\nthe Financial Accountability Act 2009, any other Act and the Financial and Performance\nManagement Standard 2019. The applicable requirements include those for keeping financial\nenable the preparation of a true and fair financial report.\n20 August 2024\nRachel Vagg Queensland Audit Office\nAuditor-General Brisbane\n62\nANNUAL REPORT 2023–24 Queensland Treasury Corporation\n Source: `annual-reports/2023-24.pages.jsonl`\n- to the establishment and\nkeeping of accounts were complied with in all material respects.\nPrescribed requirements scope\nThe prescribed requirements for the establishment and keeping of accounts are contained in\nthe Financial Accountability Act 2009, any other Act and the Financial and Performance\nManagement Standard 2019. The applicable requirements include those for keeping financial\nrecords that correctly record and explain the entity’s transactions and account balances to\nenable the preparation of a true and fair financial report.\n25 August 2025\nRachel Vagg Queensland Audi\n Source: `annual-reports/2024-25.pages.jsonl`\n- to the establishment and keeping of\naccounts were complied with in all material respects.\nPrescribed requirements scope\nThe prescribed requirements for the establishment and keeping of accounts are contained in the\nFinancial Accountability Act 2009, any other Act and the Financial and Performance Management\nStandard 2019. The applicable requirements include those for keeping financial records that\ncorrectly record and explain the entity's transactions and account balances to enable the\npreparation of a true and fair financial report.\n22 August 2022\nBrendan Worrall Queensland\n Source: `other-pdfs/Independent-Auditors-Report-for-the-2021-22-Financial-Year.pages.jsonl`\n\n### Income Tax Assessment Act 1997\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.qld.gov.au/search?query=Income+Tax+Assessment+Act+1997\n\n**Sources**:\n- `annual-reports/2020-21.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n- `other-pdfs/QTC-AR-2019-20-Financials.pages.jsonl`\n\n**Evidence contexts**:\n- UAL REPORT 2020–21 | QUEENSLAND TREASURY CORPORATION\n32 Notes to the Financial Statements\nCapital Markets Operations\nFor the year ended 30 June 2021\n5 Income tax expense\nAccounting Policy\nQTC is exempt from the payment of income tax under section 50-25 of the Income Tax Assessment Act 1997 (as amended). QTC makes a payment in lieu of\nincome tax to the State Consolidated Fund. The calculation of the income tax liability is based on the income of certain activities controlled by QTC’s Capital\nMarkets Operations. No income tax is payable on the SI\n Source: `annual-reports/2020-21.pages.jsonl`\n- ANNUAL REPORT 2022–23 | QUEENSLAND TREASURY CORPORATION\nNotes to the Financial Statements\nCapital Markets Operations\nFor the year ended 30 June 2023\n5 Income tax expense\nAccounting Policy\nQTC is exempt from the payment of income tax under section 50-25 of the Income Tax Assessment Act 1997 (as amended). QTC makes a payment in lieu of\nincome tax to the State Consolidated Fund. The calculation of the income tax liability is based on the income of certain activities controlled by QTC’s Capital\nMarkets Operations. No income tax is payable on the SI\n Source: `annual-reports/2022-23.pages.jsonl`\n- and Treasury Corporation\n\n[page 34]\nNotes to the Financial Statements\nCapital Markets Operations\nFor the year ended 30 June 2024\n5 Income tax expense\nSummary of material accounting policy\nQTC is exempt from the payment of income tax under section 50-25 of the Income Tax Assessment Act 1997 (as amended). QTC makes a payment in lieu of income tax\nto the State Consolidated Fund. The calculation of the income tax liability is based on the income of certain activities controlled by QTC’s Capital Markets Operations.\nNo income tax is payable on the SI\n Source: `annual-reports/2023-24.pages.jsonl`\n- and Treasury Corporation\n\n[page 34]\nNotes to the Financial Statements\nCapital Markets Operations\nFor the year ended 30 June 2025\n5 Income tax expense\nSummary of material accounting policy\nQTC is exempt from the payment of income tax under section 50-25 of the Income Tax Assessment Act 1997 (as amended). QTC makes a payment in lieu of income\ntax to the State Consolidated Fund. The calculation of the income tax liability is based on the income of certain activities controlled by QTC’s Capital Markets Opera-\ntions. No income tax is payable on the\n Source: `annual-reports/2024-25.pages.jsonl`\n- PORT 2019–20 QUEENSLAND TREASURY CORPORATION\n\n[page 10]\nNotes to the Financial Statements\nCapital Markets Operations\nFor the year ended 30 June 2020\n5 Income tax expense\nAccounting Policy\nQTC is exempt from the payment of income tax under section 50-25 of the Income Tax Assessment Act 1997 (as amended). QTC makes a payment in lieu\nof income tax to the Queensland Government’s Consolidated Fund. The calculation of the income tax liability is based on the income of certain activities\ncontrolled by QTC’s Capital Markets Operations. No income tax is\n Source: `other-pdfs/QTC-AR-2019-20-Financials.pages.jsonl`\n\n### Pursuant to the Queensland Treasury Corporation Act 1988\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 4\n**Register search**: https://www.legislation.qld.gov.au/search?query=Pursuant+to+the+Queensland+Treasury+Corporation+Act+1988\n\n**Sources**:\n- `pages/annual-reports-index__07.html`\n- `pages/annual-reports-index__08.html`\n- `pages/annual-reports-index__10.html`\n- `pages/annual-reports-index__11.html`\n\n**Evidence contexts**:\n- securities to meet the State’s liquidity requirements, consistent with its internal and external policies.\nHigh performance workforce\nHigh performance workforce\nQTC competes with the global financial industry to attract and retain its high calibre employees. Pursuant to the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s Board regularly reviews QTC’s remuneration framework, which comprises fixed and variable remuneration. The reviews are be\n Source: `pages/annual-reports-index__07.html`\n- curities to meet the State’s liquidity requirements, consistent with its internal and external policies.\nHigh performance workforce\nHigh performance workforce\nQTC recruits from the global financial industry to attract and retain its high calibre of employees. Pursuant to the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which QTC operates.\nQTC’s Board regularly reviews QTC’s remuneration framework, which comprises fixed and variable remuneration. The reviews are b\n Source: `pages/annual-reports-index__08.html`\n- 0,000 transactions, with a combined turnover of $1.6 trillion, and an error rate of only 0.033 per cent.\nHigh performance workforce\nHigh performance workforce\nQTC competes with the global financial industry to attract and retain its high calibre of employees. Pursuant to the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s Board regularly reviews QTC’s remuneration framework, which comprises fixed and variable remuneration and is benchmarked\n Source: `pages/annual-reports-index__10.html`\n- 78,000 transactions, with a combined turnover of $1 trillion, and an error rate of only 0.036 per cent.\nHigh performance workforce\nHigh performance workforce\nQTC competes with the global financial industry to attract and retain its high calibre of employees. Pursuant to the\nQueensland Treasury Corporation Act 1988\n, QTC employees are hired on individual contracts, with employment practices aligned to the financial markets in which it operates.\nQTC’s Board regularly reviews the performance-based remuneration system, which comprises fixed and variable remuneration and is\n Source: `pages/annual-reports-index__11.html`\n\n### Financial Promotion) Order 2005\n\n**Type**: Order\n**Confidence**: high\n**Mentions**: 3\n**Register search**: https://www.legislation.qld.gov.au/search?query=Financial+Promotion%29+Order+2005\n\n**Sources**:\n- `pages/about.html`\n- `pages/annual-reports-index.html`\n- `pages/homepage.html`\n\n**Evidence contexts**:\n- , this communication is intended only for: (i) persons who have professional experience in matters relating to investments and who fall within the definition of ‘investment professionals’ as defined in Article 19(5) of the Financial Services and Markets 2000 (Financial Promotion) Order 2005 (the FPO); (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations etc) of the FPO and (iii) other persons to whom it may otherwise lawfully be communicated. All such persons together being referred to as ‘Re\n Source: `pages/about.html`\n- , this communication is intended only for: (i) persons who have professional experience in matters relating to investments and who fall within the definition of ‘investment professionals’ as defined in Article 19(5) of the Financial Services and Markets 2000 (Financial Promotion) Order 2005 (the FPO); (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations etc) of the FPO and (iii) other persons to whom it may otherwise lawfully be communicated. All such persons together being referred to as ‘Re\n Source: `pages/annual-reports-index.html`\n- , this communication is intended only for: (i) persons who have professional experience in matters relating to investments and who fall within the definition of ‘investment professionals’ as defined in Article 19(5) of the Financial Services and Markets 2000 (Financial Promotion) Order 2005 (the FPO); (ii) persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations etc) of the FPO and (iii) other persons to whom it may otherwise lawfully be communicated. All such persons together being referred to as ‘Re\n Source: `pages/homepage.html\n\n_…truncated, open the .md file for the full content._", "global_initiatives_md": null, "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": "To be a world-class financial partner of government", "vision_source_page": 7, "purposes": "To create value for all Queenslanders through our trusted financial expertise", "purposes_source_page": 5, "how_we_deliver": "By fostering a strong risk mindset, embracing innovation, and striving for excellence in everything we do", "how_we_deliver_source_page": 7, "government_priorities": [ { "text": "Energy", "source_page": 10 }, { "text": "Infrastructure", "source_page": 10 }, { "text": "Investment", "source_page": 10 }, { "text": "Housing", "source_page": 10 }, { "text": "Social services", "source_page": 10 } ], "outcomes": [ { "name": "Outcome 1: Achieving sustainable access to funding", "description": "QTC completed the State’s $26.9 billion 2024-25 indicative term debt borrowing program on 13 May 2025 ahead of schedule, and raised an additional $2.6 billion towards the 2025-26 program.", "key_activities": [ "Attracting a diversified investor base", "Offering a wide range of high-quality financial securities" ], "source_page": 8 }, { "name": "Outcome 2: Creating value for the State and clients", "description": "In 2024–25, QTC supported Queensland Treasury and other key clients to create value for Queensland. This work contributed to fiscal, economic and social benefits and more informed decision-making to enhance Queensland’s prosperity.", "key_activities": [ "Financial and risk advice on high-priority government projects", "Assisting with the coordinated management of the whole-of-government capital program" ], "source_page": 12 } ], "values": [ "Risk Mindset", "Integrity", "Accountability", "Creating Value for Queensland", "Growth", "Innovation and Excellence" ], "values_framework_name": "QTC Values", "kpi_targets_2025_26": [ { "code": "CCE01", "measure": "State’s term debt borrowing requirement", "target": "$33.5 billion", "source_page": 8 } ], "kpi_results_2024_25": [ { "code": "CCE01", "measure": "State’s term debt borrowing requirement", "result": "$26.9 billion", "status": "Achieved", "source_page": 8 } ], "_source_urls": { "annual_report_url": "https://www.qtc.com.au/wp-content/uploads/2025/09/QTC-Annual-Report-2024–25-as-at-12-Sept-2025-web-locked.pdf", "corporate_plan_url": "" } }, "ideas": [ { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Risk & Assurance", "scale": "small", "title": "Recommendation tracker for audits, reviews, and inquiries", "idea": "Publish a single internal tracker for audit/review recommendations, owners, due dates, and implementation evidence.", "quote": "Board with:\nDuring the year, the Risk and Audit Committee\nn human resources-related key policies and compliance with\nrecommended the adoption of annual financial statements,\nrelevant legislation\nreviewed external and internal audit reports and the\nn the framework for remuneration and performance reviews progress in implementing the recommendations from those\nn the integrity and consistency of QTC’s corporate culture reports, approved QTC’s Internal Audit Plan and reviewed the\nn succession planning for the executive leadership team, Queensland Audit Office’s External Audit Plan.\nexecutive development and talent pipeline risks\nn strategic workforce planning and operational resource\nplanning\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 8 4 3 4\nELIGIBLE ELIGIBLE ELIGIBLE ELIGIBLE", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Risk & Assurance", "scale": "large", "title": "Integrated assurance and lessons-learned system", "idea": "Create an assurance system that connects audit findings, risk registers, delivery reviews, and investment decisions.", "quote": "Board with:\nDuring the year, the Risk and Audit Committee\nn human resources-related key policies and compliance with\nrecommended the adoption of annual financial statements,\nrelevant legislation\nreviewed external and internal audit reports and the\nn the framework for remuneration and performance reviews progress in implementing the recommendations from those\nn the integrity and consistency of QTC’s corporate culture reports, approved QTC’s Internal Audit Plan and reviewed the\nn succession planning for the executive leadership team, Queensland Audit Office’s External Audit Plan.\nexecutive development and talent pipeline risks\nn strategic workforce planning and operational resource\nplanning\nMeetings held\nFUNDING AND HUMAN RESOURCES RISK AND\nBOARD MARKETS COMMITTEE COMMITTEE AUDIT COMMITTEE\nORDINARY MEETINGS HELD 8 4 3 4\nELIGIBLE ELIGIBLE ELIGIBLE ELIGIBLE", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "annual-reports/2022-23.pdf (https://www.qtc.com.au/wp-content/uploads/2023/10/QTC-Annual-Report-2022-23-FINAL-LOCKED.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Regulation & Policy", "scale": "small", "title": "Regulatory burden scan for forms, guidance, and reporting", "idea": "Identify the top 10 highest-friction reporting obligations and simplify guidance, forms, or evidence requirements.", "quote": "Meetings held\nBoard\nRisk and\nAudit Committee\nFunding\nand Markets Committee\nHuman Resources Committee\nOrdinary meetings held\n9\n5\n4\n4\nGerard Bradley\n9\n1\n3\n4\nTonianne Dwyer\n1\n9\n–\n2\n4\nNeville Ide\n2\n6\n2\n1\n–\nAnne Parkin\n9\n5\n–\n4\nAlison Rayner\n3\n6\n3\n–\n–\nKaren Smith-Pomeroy\n4\n9\n5\n–\n1\nJim Stening\n9\n–\n4\n–\n1\nMs Dwyer was appointed to the Funding and Markets Committee effective 1 February 2019\n2\nMr Ide was appointed to the Board effective 1 October 2018, the Risk and Audit Committee effective 1 February 2019 and the Funding and Markets Committee effective 1 February 2019\n3\nMs Rayner was appointed to the Board and the Risk and Audit Committee effective 19 July 2018\n4\nMs Smith-Pomeroy was appointed to the Human Resources Committee effective 1 February 2019\nQTC's Capital Markets Board as at 30 June 2019\nQTC's Capital Markets Board as at 30 June 2019", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "pages/annual-reports-index__06.html (https://www.qtc.com.au/annual-reports/annual-report-2018-19/)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Regulation & Policy", "scale": "large", "title": "Adaptive regulation program with live feedback loops", "idea": "Create an adaptive regulation model using sandboxes, industry data, risk scoring, and regular rule updates.", "quote": "Meetings held\nBoard\nRisk and\nAudit Committee\nFunding\nand Markets Committee\nHuman Resources Committee\nOrdinary meetings held\n9\n5\n4\n4\nGerard Bradley\n9\n1\n3\n4\nTonianne Dwyer\n1\n9\n–\n2\n4\nNeville Ide\n2\n6\n2\n1\n–\nAnne Parkin\n9\n5\n–\n4\nAlison Rayner\n3\n6\n3\n–\n–\nKaren Smith-Pomeroy\n4\n9\n5\n–\n1\nJim Stening\n9\n–\n4\n–\n1\nMs Dwyer was appointed to the Funding and Markets Committee effective 1 February 2019\n2\nMr Ide was appointed to the Board effective 1 October 2018, the Risk and Audit Committee effective 1 February 2019 and the Funding and Markets Committee effective 1 February 2019\n3\nMs Rayner was appointed to the Board and the Risk and Audit Committee effective 19 July 2018\n4\nMs Smith-Pomeroy was appointed to the Human Resources Committee effective 1 February 2019\nQTC's Capital Markets Board as at 30 June 2019\nQTC's Capital Markets Board as at 30 June 2019", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "pages/annual-reports-index__06.html (https://www.qtc.com.au/annual-reports/annual-report-2018-19/)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Data & Performance", "scale": "small", "title": "KPI evidence register with named owners", "idea": "Create a simple register mapping each KPI to source data, owner, frequency, target, and last result.", "quote": "Workforce profile\nFY 2012-13\nEstablishment\n226\nFull-time equivalent staff\n224\nPermanent retention rate\n94.26%\nPermanent separation rate\n5.23%\nPermanent average tenure\n6.29 years\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nMaintain organisational sustainability\nKPI 1: QTC operates efficiently and effectively\nKPI 2: Risks are managed within QTC’s risk appetite\nKPI 3: QTC’s employee engagement scores trend positive\nAchieve sustainable access to funding\nKPI 4: The State’s funding objectives are met, following Board-approved funding principles\nCreate client value\nKPI 5: Clients acknowledge QTC’s positive contribution to their businesses\nStrategic Goal 4: Deliver whole-of-State benefits\nKPI 6: Evidence that QTC has delivered whole-of-State benefits, through:", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "pages/annual-reports-index__13.html (https://www.qtc.com.au/annual-reports/annual-report-2012-13/)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Data & Performance", "scale": "large", "title": "Outcome dashboard linking budget, delivery, and public impact", "idea": "Build a public-facing outcome dashboard showing spend, outputs, outcomes, and delivery confidence.", "quote": "Workforce profile\nFY 2012-13\nEstablishment\n226\nFull-time equivalent staff\n224\nPermanent retention rate\n94.26%\nPermanent separation rate\n5.23%\nPermanent average tenure\n6.29 years\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nMaintain organisational sustainability\nKPI 1: QTC operates efficiently and effectively\nKPI 2: Risks are managed within QTC’s risk appetite\nKPI 3: QTC’s employee engagement scores trend positive\nAchieve sustainable access to funding\nKPI 4: The State’s funding objectives are met, following Board-approved funding principles\nCreate client value\nKPI 5: Clients acknowledge QTC’s positive contribution to their businesses\nStrategic Goal 4: Deliver whole-of-State benefits\nKPI 6: Evidence that QTC has delivered whole-of-State benefits, through:", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "pages/annual-reports-index__13.html (https://www.qtc.com.au/annual-reports/annual-report-2012-13/)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Citizen Services", "scale": "small", "title": "Plain-language service pages and proactive status updates", "idea": "Rewrite high-volume pages and letters into plain language, add status notifications, and measure contact reduction.", "quote": "Workforce profile\nFY 2012-13\nEstablishment\n226\nFull-time equivalent staff\n224\nPermanent retention rate\n94.26%\nPermanent separation rate\n5.23%\nPermanent average tenure\n6.29 years\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nMaintain organisational sustainability\nKPI 1: QTC operates efficiently and effectively\nKPI 2: Risks are managed within QTC’s risk appetite\nKPI 3: QTC’s employee engagement scores trend positive\nAchieve sustainable access to funding\nKPI 4: The State’s funding objectives are met, following Board-approved funding principles\nCreate client value\nKPI 5: Clients acknowledge QTC’s positive contribution to their businesses\nStrategic Goal 4: Deliver whole-of-State benefits\nKPI 6: Evidence that QTC has delivered whole-of-State benefits, through:", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "pages/annual-reports-index__13.html (https://www.qtc.com.au/annual-reports/annual-report-2012-13/)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Citizen Services", "scale": "large", "title": "Single front door for life-event based services", "idea": "Bundle services around life events so citizens can complete related steps across agencies in one journey.", "quote": "Workforce profile\nFY 2012-13\nEstablishment\n226\nFull-time equivalent staff\n224\nPermanent retention rate\n94.26%\nPermanent separation rate\n5.23%\nPermanent average tenure\n6.29 years\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nQTC's Strategic Goals, as outline in its Strategic Plan 2012-16\nMaintain organisational sustainability\nKPI 1: QTC operates efficiently and effectively\nKPI 2: Risks are managed within QTC’s risk appetite\nKPI 3: QTC’s employee engagement scores trend positive\nAchieve sustainable access to funding\nKPI 4: The State’s funding objectives are met, following Board-approved funding principles\nCreate client value\nKPI 5: Clients acknowledge QTC’s positive contribution to their businesses\nStrategic Goal 4: Deliver whole-of-State benefits\nKPI 6: Evidence that QTC has delivered whole-of-State benefits, through:", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "pages/annual-reports-index__13.html (https://www.qtc.com.au/annual-reports/annual-report-2012-13/)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Staff Productivity", "scale": "small", "title": "Reusable briefing and summary assistant for internal documents", "idea": "Create controlled templates for summarising reports, submissions, minutes, and ministerial briefs.", "quote": "QTC also received a ‘5 out of 5’\nrating for key controls that were implemented for workforce\nAn ongoing focus on the continuous improvement of QTC’s\nmanagement in response to COVID-19, and for\norganisational capability has delivered further enhancements\nits exceptionally well-controlled industry support package\nto systems, risk management and talent development\nloan management processes.\npractices.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "APS staff / executives", "source": "annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Sensitive information leakage", "Inconsistent quality of generated drafts" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Staff Productivity", "scale": "large", "title": "Department-wide knowledge and briefing platform", "idea": "Build a secure knowledge platform that lets staff search, summarise, and cite approved departmental material.", "quote": "QTC also received a ‘5 out of 5’\nrating for key controls that were implemented for workforce\nAn ongoing focus on the continuous improvement of QTC’s\nmanagement in response to COVID-19, and for\norganisational capability has delivered further enhancements\nits exceptionally well-controlled industry support package\nto systems, risk management and talent development\nloan management processes.\npractices.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "APS staff / executives", "source": "annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Sensitive information leakage", "Inconsistent quality of generated drafts" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Procurement & Delivery", "scale": "small", "title": "Procurement lessons library for repeat purchases", "idea": "Capture reusable procurement clauses, market lessons, supplier performance notes, and common evaluation criteria.", "quote": "BORROWINGS OFFSHORE INVESTMENTS DERIVATIVE CONTRACTS NET EXPOSURE\n2021 2020 2021 2020 2021 2020 2021 2020\n$000 $000 $000 $000 $000 $000 $000 $000\nUSD (2 311 346) (999 484) - 495 270 2 311 346 504 214 - -\nCHF (158,715) (168 449) - - 158 715 168 449 - -\nGBP - (322 290) - - - 322 290 - -\nJPY (180 376) (203 241) - - 180 376 203 241 - -\nEUR (721 451) (745 751) 79 106 81 771 642 345 663 980 - -\n(ii) Interest rate risk\nQTC lends to clients based on a duration profile specified in the client mandates.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "annual-reports/2020-21.pdf (https://www.qtc.com.au/wp-content/uploads/2021/09/QTC-Annual-Report-2020-21-LOCKED-FOR-WEB-1.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "S-QLD-045", "entity_name": "Queensland Treasury Corporation", "folder_name": "Queensland-Treasury-Corporation", "category": "Procurement & Delivery", "scale": "large", "title": "Portfolio delivery office for major investments", "idea": "Stand up a portfolio delivery office that tracks benefits, risks, dependencies, procurement, and delivery confidence.", "quote": "BORROWINGS OFFSHORE INVESTMENTS DERIVATIVE CONTRACTS NET EXPOSURE\n2021 2020 2021 2020 2021 2020 2021 2020\n$000 $000 $000 $000 $000 $000 $000 $000\nUSD (2 311 346) (999 484) - 495 270 2 311 346 504 214 - -\nCHF (158,715) (168 449) - - 158 715 168 449 - -\nGBP - (322 290) - - - 322 290 - -\nJPY (180 376) (203 241) - - 180 376 203 241 - -\nEUR (721 451) (745 751) 79 106 81 771 642 345 663 980 - -\n(ii) Interest rate risk\nQTC lends to clients based on a duration profile specified in the client mandates.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "annual-reports/2020-21.pdf 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