{
  "entity_id": "O-004841",
  "folder": "Regional-Investment-Corporation",
  "name": "Regional Investment Corporation",
  "type": "Corporate Commonwealth Entity",
  "jurisdiction": "Commonwealth",
  "portfolio": "Agriculture, Fisheries and Forestry",
  "website": "https://www.ric.gov.au/",
  "data_status": "rich",
  "completeness": {
    "has_strategy_brief": true,
    "has_strategy_structured": true,
    "has_vision": false,
    "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": 12,
    "n_kpi_targets": 2,
    "n_kpi_results": 2,
    "n_outcomes": 1,
    "verified_own_data": true
  },
  "strategy_profile": {
    "status": "published",
    "confidence": "high",
    "summary": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]",
    "official_site_url": "https://www.ric.gov.au/",
    "source_documents": [
      {
        "type": "annual_report",
        "title": "Annual Report 2024/25",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
        "period": "2024-25",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "Annual Report 2023/24",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf",
        "period": "2023-24",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "Annual Report 2022/23",
        "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf",
        "period": "2022-23",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "Annual Report 2021/22",
        "url": "https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf",
        "period": "2021-22",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "Annual Report 2020/21",
        "url": "https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf",
        "period": "2020-21",
        "confidence": "high"
      },
      {
        "type": "corporate_plan",
        "title": "Corporate Plan 2025/26",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "period": "2025-26",
        "confidence": "high"
      },
      {
        "type": "corporate_plan",
        "title": "Corporate Plan 2024/25",
        "url": "https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf",
        "period": "2024-25",
        "confidence": "high"
      },
      {
        "type": "corporate_plan",
        "title": "Corporate Plan 2023/24",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf",
        "period": "2023-24",
        "confidence": "high"
      },
      {
        "type": "corporate_plan",
        "title": "Corporate Plan 2022/23",
        "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf",
        "period": "2022-23",
        "confidence": "high"
      },
      {
        "type": "corporate_plan",
        "title": "Corporate Plan 2021/22",
        "url": "https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf",
        "period": "2021-22",
        "confidence": "high"
      }
    ],
    "purpose": {
      "text": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]",
      "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
      "source_page": 7,
      "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7"
    },
    "vision": null,
    "strategic_priorities": [
      {
        "title": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy",
        "description": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy",
        "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "source_page": null,
        "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf"
      }
    ],
    "values": [
      {
        "name": "Be bold, act with purpose and act as one",
        "description": "",
        "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "source_page": null
      },
      {
        "name": "We are down to earth",
        "description": "",
        "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "source_page": null
      },
      {
        "name": "We embrace difference",
        "description": "",
        "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "source_page": null
      }
    ],
    "outcomes": [
      {
        "name": "Outcome 1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities",
        "description": "By delivering the Commonwealth’s farm business concessional loans",
        "activities": [
          "Delivering concessional loans to farm businesses",
          "Supporting farm businesses through financial disruptions"
        ],
        "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "source_page": 7,
        "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7"
      }
    ],
    "performance_measures": [
      {
        "code": "CCE01",
        "measure": "Average total days to decision of 50 days",
        "target": "Average total days to decision of 50 days",
        "latest_result": "50 days",
        "status": "Achieved",
        "target_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "target_source_page": null,
        "result_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
        "result_source_page": null
      },
      {
        "code": "NPS",
        "measure": "Net Promoter Score",
        "target": ">20%",
        "latest_result": ">20%",
        "status": "Achieved",
        "target_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "target_source_page": null,
        "result_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
        "result_source_page": null
      }
    ],
    "document_alignment_terms": {
      "must_support": [
        "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]",
        "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy"
      ],
      "watch_terms": [
        "Average total days to decision of 50 days",
        "Net Promoter Score"
      ],
      "avoid_claiming_without_evidence": []
    },
    "review_note": ""
  },
  "strategy_brief_md": "# Regional Investment Corporation — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)\n**Corporate Plan**: [2025-26](https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)\n\n## Our purpose / purposes\n\n> To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7](https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf#page=7) [[CP p.7](https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7)(https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7)]\n\n## How we deliver\n\n> We deliver government policy through low-interest loans to farm businesses and farm-related small businesses [CP p.4](https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=4) [[CP p.4](https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=4)(https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=4)]\n\n## Government priorities for this department\n\n- Supporting the growth, resilience, and sustainability of Australia’s agricultural economy\n\n## Outcomes\n\n### Outcome 1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities\nBy delivering the Commonwealth’s farm business concessional loans [[CP p.7](https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7)(https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7)]\n\n**Key activities:**\n- Delivering concessional loans to farm businesses\n- Supporting farm businesses through financial disruptions\n\n## Values and principles\n\n_RIC Values_\n\n- Be bold, act with purpose and act as one\n- We are down to earth\n- We embrace difference\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 | Average total days to decision of 50 days | Average total days to decision of 50 days |  |\n| NPS | Net Promoter Score | >20% |  |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| CCE01 | Average total days to decision | 50 days | Achieved |  |\n| NPS | Net Promoter Score | >20% | Achieved |  |",
  "strategy_overview_evidence_md": null,
  "internal_strategy_evidence_md": "# Regional Investment Corporation - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T22:07:26.488729+00:00\n**Entity ID**: O-004841\n**Entity type**: Corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Agriculture, Fisheries and Forestry\n**Website**: https://www.ric.gov.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| corporate-plans | 5 |\n| other-pdfs | 2 |\n| pages | 25 |\n\n## Executive Readout\n\n### Purpose\n\n- The key activities we will focus on to deliver on our purpose and performance measures are:\n1. maintain high levels of customer satisfaction through faster time to decision for eligible\nloans and continuous improvement of our newly insourced loan management systems,\nprocesses and workforce\n2. deliver our loans in accordance with funding appropriations\n3. prudently and efficiently manage our loan portfolio across each loan’s lifecycle\n4. manage loan portfolio credit risk in line with our credit risk appetite\n5. deliver new products or product amendments as directed by the Australian Government (if\nrequired)\n6. continue to develop our Environment, Social and Governance framework and associated\nreporting against our baseline and establishment of our Reflect Reconciliation Action Plan\n7. deliver a positive impact to farm businesses by increasing their confidence in the future\n  Source: `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)`\n- Our Outcome Statement, Vision, Purpose, Strategic Plan objectives and enablers, culture, and customer experience\nprinciples are unchanged from our last Corporate Plan, being integral to the delivery of this final year of our current\nStrategic Plan.\n  Source: `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)`\n- Table 1: Performance measures\nStrategic Key Our performance Our target performance 2025- 2026- 2027- 2028-\nobjective activity measures result 2026 2027 2028 2029\nTo be valued\nby customers\nMaintain high customer Customer satisfaction\nfor the 1, 2, 4    \nsatisfaction rating above 80%1\noutcomes we\nachieve\nNumber and value of Support provided within\n1  N/A N/A N/A\nloans approved appropriation limits2\nTo be a 95% of new loan decisions\nleader in 3 Risk is managed within are consistent with the risk  TBC TBC TBC\nAustralian acceptable tolerances appetite3\nGovernment\nService Average total time to\nprovision decision of 50 days for\nEligible loan processing\n2, 4 new applications within  N/A N/A N/A\ntimeframe\nthe funding appropriation\nof $349.7m2\nTo be valued\nas a key\nLoan monitoring and\npartner in 6 2 delivered4  TBC TBC TBC\nevaluation reports\nagricultural\npolicy delivery\n  Source: `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)`\n- Our purpose, vision, and strategic objectives through to 2026 remain the same, as part of a\nplanned foundation for RIC to be in the best position possible to continue servicing the agriculture\nsector and regional Australia into the future.\n  Source: `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)`\n\n### Role and Functions\n\n- [Page 7]\nStrategic Objectives and key activities against\neach objective, 2021-2025:\n1) Unlock potential to deliver support to rural and regional\nAustralia through concessional finance;\n2) Improve capabilities to meet the emerging needs of the\nbusiness\nKey Activities 2021-25:\nKey activity A: W e will deliver our loans in accordance with\nappropriations and timelines\nKey activity B: W e will manage the risk and assurance in\nthe loan portfolio\nKey activity C: W e will implement a transformation\nprogram\nKey activity D: W e will increase customer and stakeholder\nsatisfaction and better manage expectations\nKey activity E: T hrough our customer and stakeholder\ninteractions, we will provide data to\nsupport the Australian Government in\nunderstanding the financial needs of rural\nand regional Australia and the impact of\nconcessional loan funding\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- Deliver services Operate within\nIn 2022-23 we will track our\nprogress against a new loan\nefficiently within approved operating\n2, 3 approved funding budget5\nprocessing timeframe target,\nensuring customers receive 85% of eligible loans\na decision on their loan as decisioned in 30\nq\nth\nu\ne\nic\nm\nk l\nw\ny\ni\na\nth\ns\nt\np\nh\no\ne\ns\nir\ns\np\nib\nla\nle\nn\nt\nn\no\nin\nh\ng\ne lp L\ntim\noa\ne\nn\nfr\np\na\nr\nm\no\ne\nce ssing R\nfo\nI\nr\nC\nth\n-h\ne\na\nl\nn\no\nd\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment.\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- [pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- Functions\n• to administer farm business loans\n• to administer programs prescribed by the Rules\nKey activities - summary\n• deliver loans in accordance with Guidelines, funding appropriations and\napplication decision timelines\n• manage all aspects of the loan portfolio including credit risk\n• im plement the final stages of the transformation program to insource loan\nservice delivery functions\n• increase customer satisfaction\n• deliver new products or amendments as directed by the Australian\nGovernment\n• develop an ESG framework\n  Source: `corporate-plans/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf)`\n- 85% of eligible loans\nLoan processing decisioned in 30 RIC-\n   N/A\ntimeframe handling days for the loan\nfacility of $218M 1\nWe will manage the credit risk in\nthe loan portfolio, with a focus on Risk is managed 95% of new loan decisions\nensuring all new loans are within acceptable are consistent with the risk    \nassessed in line with the credit tolerances appetite 3\nrisk appetite statement\nWe will implement the final Implement a loan Loan management system\nDec 23 N/A N/A N/A\nstages of the transformation management system implemented and functional 4\nprogram, involving the\ndeployment of new technology\nthat insources loan management Workforce capability\nWorkforce plan implemented\nand origination, and realigns our aligned to the new and embedded 5 Dec 23 N/A N/A N/A\nworkforce and capability to a new operating model\noperating model\nWe will increase customer\n  Source: `corporate-plans/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf)`\n\n### Strategic Priorities\n\n- [Page 7]\nStrategic Objectives and key activities against\neach objective, 2021-2025:\n1) Unlock potential to deliver support to rural and regional\nAustralia through concessional finance;\n2) Improve capabilities to meet the emerging needs of the\nbusiness\nKey Activities 2021-25:\nKey activity A: W e will deliver our loans in accordance with\nappropriations and timelines\nKey activity B: W e will manage the risk and assurance in\nthe loan portfolio\nKey activity C: W e will implement a transformation\nprogram\nKey activity D: W e will increase customer and stakeholder\nsatisfaction and better manage expectations\nKey activity E: T hrough our customer and stakeholder\ninteractions, we will provide data to\nsupport the Australian Government in\nunderstanding the financial needs of rural\nand regional Australia and the impact of\nconcessional loan funding\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 17]\n6 Appendix- list of requirements\nRequirement Page\nIntroduction i\n– Statement of preparation\n– the reporting period for which the plan is prepared\n– the reporting periods covered by the plan\nPurposes 3\nKey activities 4\nOperating context 8\nEnvironment 8\nCapability 9\nRisk oversight and management 10\nCooperation 13\nPerformance 5\nRIC Customer\nAndrew Leslie\nNorthern Rivers NSW\nRegional Investment Corporation Corporate Plan 2021/22 14\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- [Page 14]\nRegional Investment Corporation 11\nCorporate Plan 2023 - 2024\nTable 2: 2023-24 to 2026-27 Key activities, performance measures & targets\nPerformance Key activities Targets measures\n42\n- 3202\n52\n- 4202\n62\n- 5202\n72\n- 6202\nNumber and value of Support provided within\n   N/A\nloans approved appropriation limits 1\nWe will deliver our loans in Deliver services\nOperate within approved\naccordance with funding efficiently within    \noperating budget 2\nappropriations approved funding\navailable and application decision\ntimelines.\n  Source: `corporate-plans/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf)`\n- The key activities we will focus on to deliver on our purpose and performance measures are:\n1. maintain high levels of customer satisfaction through faster time to decision for eligible\nloans and continuous improvement of our newly insourced loan management systems,\nprocesses and workforce\n2. deliver our loans in accordance with funding appropriations\n3. prudently and efficiently manage our loan portfolio across each loan’s lifecycle\n4. manage loan portfolio credit risk in line with our credit risk appetite\n5. deliver new products or product amendments as directed by the Australian Government (if\nrequired)\n6. continue to develop our Environment, Social and Governance framework and associated\nreporting against our baseline and establishment of our Reflect Reconciliation Action Plan\n7. deliver a positive impact to farm businesses by increasing their confidence in the future\n  Source: `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)`\n- [Page 24]\nAnnual Performance Measures for FY 2020-21\nPerfor-\nKey Performance Measure\nmance Targets Commentary\nActivity Measures Achieved\nCriteria\nStrategic Objective: Strengthen delivery of our functions\nThe RIC has achieved the\nperformance target for all\napplications received after 1\nDecrease in\nOctober 2020 and remains on\naverage Farm 80% of loans with\ntrack for those that are work-\nBusiness Loan an end-to-end Partially\nin-progress at the end of the\nprocessing delivery time of 65 Achieved.\nreporting period.\ntimeframes days.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- [Page 25]\nAnnual Performance Measures for FY 2020-21\nPerfor-\nKey Performance Measure\nmance Targets Commentary\nActivity Measures Achieved\nCriteria\nStrategic Objective: Strengthen delivery of our functions\nWe will\nincrease\ncustomer and\nstakeholder\nAlthough not meeting its 10%\nawareness and\nimprovement target over the\nbetter manage Improved\nreporting period, at its last survey\nexpectations customer 10% increase in Partially\n65% of customers reported an\nby providing satisfaction and satisfaction rates.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- [Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total funding allocation.\ntimelines\nDeliver services Operate within Achieved Year-end $0.7M surplus result within\nefficiently within approved operating the year-end budget deficit of $1.2M.\napproved funding budget\nLoan processing 85% of eligible loans Achieved 198 of 209 eligible loans were\ntimeframe decisioned in 30 RIC- decisioned within 30 RIC-handling\nhandling days for the days, equating to 95%.\nloan facility of $218M\n  Source: `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)`\n- Table 3: Environment, Social and Governance (ESG) measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nAchieved\nEmissions/Staff FTE <2023 Not achieved\nMonitoring and reporting\nAdoption of government Baseline Measure 0.58 t CO 2 -e per FTE achieved\npolicy and expectations on Achieved\nAchieved\nESG Reflect Reconciliation Action Reflect RAP goals achieved,\nReflect RAP developed\nPlan (RAP) established and transition to Innovate\nRAP commenced\nEmissions reduction activities\nHaving established our baseline emissions in FY2023-24, we finalised and published our FY2024-25 Emissions\nReduction Plan to contribute to APS Net Zero 2030 targets through operational emissions reduction priorities and\nactions.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [pages 16,17]\net performance result FY2025 results FY2024 results comparison\nAchieved\nEmissions/Staff FTE <2023 Not achieved\nMonitoring and reporting\nAdoption of government Baseline Measure 0.58 t CO 2 -e per FTE achieved\npolicy and expectations on Achieved\nAchieved\nESG Reflect Reconciliation Action Reflect RAP goals achieved,\nReflect RAP developed\nPlan (RAP) established and transition to Innovate\nRAP commenced\nEmissions reduction activities\nHaving established our baseline emissions in FY2023-24, we finalised and published our FY2024-25 Emissions\nReduction Plan to contribute to APS Net Zero 2030 targets through operational emissions reduction priorities and\nactions.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Table 3: Environment, Social and Governance (ESG) measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nAchieved\nEmissions/Staff FTE <2023 Not achieved\nMonitoring and reporting\nAdoption of government Baseline Measure 0.58 t CO 2 -e per FTE achieved\npolicy and expectations on Achieved\nAchieved\nESG Reflect Reconciliation Action Reflect RAP goals achieved,\nReflect RAP developed\nPlan (RAP) established and transition to Innovate\nRAP commenced\nEmissions reduction activities\nHaving established our baseline emissions in FY2023-24, we finalised and published our FY2024-25 Emissions\nReduction Plan to contribute to APS Net Zero 2030 targets through operational emissions reduction priorities and\nactions.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [Page 24]\nAnnual Performance Measures for FY 2020-21\nPerfor-\nKey Performance Measure\nmance Targets Commentary\nActivity Measures Achieved\nCriteria\nStrategic Objective: Strengthen delivery of our functions\nThe RIC has achieved the\nperformance target for all\napplications received after 1\nDecrease in\nOctober 2020 and remains on\naverage Farm 80% of loans with\ntrack for those that are work-\nBusiness Loan an end-to-end Partially\nin-progress at the end of the\nprocessing delivery time of 65 Achieved.\nreporting period.\ntimeframes days.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- [Page 25]\nAnnual Performance Measures for FY 2020-21\nPerfor-\nKey Performance Measure\nmance Targets Commentary\nActivity Measures Achieved\nCriteria\nStrategic Objective: Strengthen delivery of our functions\nWe will\nincrease\ncustomer and\nstakeholder\nAlthough not meeting its 10%\nawareness and\nimprovement target over the\nbetter manage Improved\nreporting period, at its last survey\nexpectations customer 10% increase in Partially\n65% of customers reported an\nby providing satisfaction and satisfaction rates.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timeframe\ndays for the loan facility of 94% 95%\n$318.5M\nThat the RIC loan has given\ngreater confidence in the Achieved\nCustomer confidence level Achieved\nfuture and profitability of 86% confidence in the future\nabove 80% 89%\ncustomer farm / small 81% confidence in profitability\nbusiness\nIn FY2023, we insourced all loan and customer management services and systems from a third-party provider.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [pages 16,17]\net performance result FY2025 results FY2024 results comparison\nAchieved\nEmissions/Staff FTE <2023 Not achieved\nMonitoring and reporting\nAdoption of government Baseline Measure 0.58 t CO 2 -e per FTE achieved\npolicy and expectations on Achieved\nAchieved\nESG Reflect Reconciliation Action Reflect RAP goals achieved,\nReflect RAP developed\nPlan (RAP) established and transition to Innovate\nRAP commenced\nEmissions reduction activities\nHaving established our baseline emissions in FY2023-24, we finalised and published our FY2024-25 Emissions\nReduction Plan to contribute to APS Net Zero 2030 targets through operational emissions reduction priorities and\nactions.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [Page 23]\nObjective: Unlock potential and deliver support to rural and regional Australia through\nconcessional finance\nPerformance Criteria: Loan transactions completed in accordance with funding\nappropriation and timelines\nKey Activity Performance Targets Measure Commentary\nMeasures Achieved\nNumber and value Support provided Fully achieved 1,499 Farm Business Loans\nof Farm Business within funding were settled in 2021-22\nLoans provided appropriation totalling $1.67B (within\nlimits. funding appropriation\nlimits).\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- Table 2: Portfolio management measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nAchieved\nAchieved\nNumber and value of loans Support provided within 240 approved loans valued at\n$199.9m approved loans within\napproved appropriation limits $247.7m within $350.2m\n$258.9m funding allocation\nfunding allocation\n95% of new loan decisions\nRisk is managed within Achieved Achieved\nare consistent with the risk\nacceptable tolerances 100% 100%\nappetite\nThis financial year farm businesses faced a range of challenges that influenced demand for RIC loans and contributed\nto 71% of our annual loan funding appropriation being deployed.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- We have reset some of the performance measures in this Corporate Plan as we to look to the\nfuture as follows:\n• Our target performance measure for loan processing timeframes is retained, but our\navailable loan facility in FY2024-25 will increase to $318.5 million, an almost 50 per cent\nincrease on FY2023-24 funding.\n• The introduction of a new performance measure on the rate that RIC loans give customers\ngreater confidence in the future and profitability of their business.\n  Source: `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)`\n- We have strengthened our loan processing timeframe performance measure to include the target\nof 85 per cent of eligible loans to be decisioned in 30 RIC-handling days for the $266M available\nloan facility for this financial year.\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- [Page 9]\nRegional Investment Corporation 9\nCorporate Plan 2024 – 2025\nTable 1 Performance measures\nKey\nOur performance measures Our target performance result\nactivity\n52-4202 62-5202 72-6202 82-7202\n1, 3 Maintain high customer satisfaction Customer satisfaction rating above 80%1    \nSupport provided within appropriation\n2 Number and value of loans approved   N/A N/A\nlimits2\nRisk is managed within acceptable 95% of new loan decisions are consistent\n3, 4   N/A N/A\ntolerances with the risk appetite3\n85% of eligible loans decisioned in 30 RIC\n1 Loan processing timeframe handling days for the loan facility of   N/A N/A\n$318.5M2\nEmissions/Staff FTE <2023 Baseline\n   \nMeasure4\nAdoption of government policy and\n6\nexpectations on ESG\nReflect Reconciliation Action Plan\n   \nestablished5\nThat the RIC loan has given greater\n  Source: `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)`\n- Table 1: Performance measures\nStrategic Key Our performance Our target performance 2025- 2026- 2027- 2028-\nobjective activity measures result 2026 2027 2028 2029\nTo be valued\nby customers\nMaintain high customer Customer satisfaction\nfor the 1, 2, 4    \nsatisfaction rating above 80%1\noutcomes we\nachieve\nNumber and value of Support provided within\n1  N/A N/A N/A\nloans approved appropriation limits2\nTo be a 95% of new loan decisions\nleader in 3 Risk is managed within are consistent with the risk  TBC TBC TBC\nAustralian acceptable tolerances appetite3\nGovernment\nService Average total time to\nprovision decision of 50 days for\nEligible loan processing\n2, 4 new applications within  N/A N/A N/A\ntimeframe\nthe funding appropriation\nof $349.7m2\nTo be valued\nas a key\nLoan monitoring and\npartner in 6 2 delivered4  TBC TBC TBC\nevaluation reports\nagricultural\npolicy delivery\n  Source: `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)`\n- [Page 22]\n4.2 Overview of performance\nOf the 12 performance measures set in the 2021-22 Corporate Plan, the RIC fully achieved\n10 measures and partially achieved 2.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within within 65 RIC-handling\n65 RIC-handling days.\ndays (*excludes\nPlantation Loans)\nCredit risk is Implement the Partially achieved Review of the RIC’s loan\nmanaged within financial risk portfolio risk management\nacceptable management completed.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- Improved customer Increase in Fully achieved External research\nWe will increase\nsatisfaction satisfaction rates identified improvement\ncustomer and\nand Net Promoter to both satisfaction rates\nstakeholder awareness\nScore (NPS) (from 65% to 82%) and\nand better manage\nNPS (from +27 to +51).\nexpectations\nImproved Increase in Partially achieved External research\nstakeholder satisfaction rates identified modest\nThrough our customer\nsatisfaction and Net Promoter improvements to\nand stakeholder\nScore (NPS) satisfaction rates in\ninteractions, we\ncomparison with 2020-21.\nwill provide data to\nStakeholders’ satisfaction\nsupport the Australian\nwith RIC processes\nGovernment in\nincreased from 20% to\nunderstanding the\n43%, satisfaction with the\nfinancial needs of rural\nRIC people increased from\nand regional Australia\n53% to 57% however there\nand the impact of\nwas a deterioration to NPS\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $318.5M, 80% | [Page 9]\nRegional Investment Corporation 9\nCorporate Plan 2024 – 2025\nTable 1 Performance measures\nKey\nOur performance measures Our target performance result\nactivity\n52-4202 62-5202 72-6202 82-7202\n1, 3 Maintain high customer satisfaction Customer satisfaction rating above 80%1    \nSupport provided within appropriation\n2 Number and value of loans approved   N/A N/A\nlimits2\nRisk is managed within acceptable 95% of new loan decisions are con | `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)` |\n| $349.7m, 80% | Table 1: Performance measures\nStrategic Key Our performance Our target performance 2025- 2026- 2027- 2028-\nobjective activity measures result 2026 2027 2028 2029\nTo be valued\nby customers\nMaintain high customer Customer satisfaction\nfor the 1, 2, 4    \nsatisfaction rating above 80%1\noutcomes we\nachieve\nNumber and value of Support provided within\n1  N/A N/A N/A\nloans approved appropriation limits2\nTo be a 95% of new loan decisions\nleader in 3 | `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)` |\n| $349.7m, 20% | [pages 8,9]\ntralian acceptable tolerances appetite3\nGovernment\nService Average total time to\nprovision decision of 50 days for\nEligible loan processing\n2, 4 new applications within  N/A N/A N/A\ntimeframe\nthe funding appropriation\nof $349.7m2\nTo be valued\nas a key\nLoan monitoring and\npartner in 6 2 delivered4  TBC TBC TBC\nevaluation reports\nagricultural\npolicy delivery\n4 Net promoter score >20%1  N/A N/A N/A\nEmissions/Staff FTE\nTo be known   | `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)` |\n| $1.2 million, $665, 1.2 million | [Page 51]\nRegional Investment Corporation\nNOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS\n5.3 Budget Variances\nAffected statements and\nBudget variance explanation line items\nThe RIC budgeted for a $1.2 million deficit based on expected loan activity Statement of\nand an assumption of some non-recurring items arising out of Comprehensive Income:\ndisengagement from the contracted external loan service provider, which - Employee benefits\noccurr | `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)` |\n| $6 million, $1.5m, 6 million | [Page 51]\nRegional Investment Corporation\nNOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS\n5.3 Budget Variances\nBudget variance explanation Affected statements and line items\nThe RIC budgeted for a $6 million deficit with the expectation that loan Statement of Comprehensive Income:\ncharges from the loan service provider would still be high and that the RIC’s - Employee benefits\ntransformation IT agenda would be largely expended in this finan | `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)` |\n| $412,562 | There was a significant variance\nCash and cash equivalents\nto budget in employee benefits as the RIC addressed the loan backlog\n- Total payables\ninternally using less funds on suppliers.\n- Employee provisions\nThe RIC also generated more income than budgeted which included\nrecovery of costs from customers and a new investment decision generating\nStatement of Cash Flows\n$412,562 of unbudgeted income.\n- Cash used suppliers\n- Cash used Employees\nStat | `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)` |\n| $908,000 | This financial year revenue from government includes $908,000 relating to the 2022-23 October Budget measure\nSavings from External Labour, and Savings from Advertising, Travel and Legal Expenses. | `annual-reports/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf)` |\n| $266M | Deliver services Operate within\nIn 2022-23 we will track our\nprogress against a new loan\nefficiently within approved operating\n2, 3 approved funding budget5\nprocessing timeframe target,\nensuring customers receive 85% of eligible loans\na decision on their loan as decisioned in 30\nq\nth\nu\ne\nic\nm\nk l\nw\ny\ni\na\nth\ns\nt\np\nh\no\ne\ns\nir\ns\np\nib\nla\nle\nn\nt\nn\no\nin\nh\ng\ne lp L\ntim\noa\ne\nn\nfr\np\na\nr\nm\no\ne\nce ssing R\nfo\nI\nr\nC\nth\n-h\ne\na\nl\nn\no\nd\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli | `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)` |\n| $266M | [pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian | `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)` |\n| $218M | 85% of eligible loans\nLoan processing decisioned in 30 RIC-\n   N/A\ntimeframe handling days for the loan\nfacility of $218M 1\nWe will manage the credit risk in\nthe loan portfolio, with a focus on Risk is managed 95% of new loan decisions\nensuring all new loans are within acceptable are consistent with the risk    \nassessed in line with the credit tolerances appetite 3\nrisk appetite statement\nWe will implement the final Implement a loan Loan | `corporate-plans/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf)` |\n| $0.8 million, $37.5 million, 0.8 million, 37.5 million | [Page 9]\nPlantation Loan\nIn its 2021-22 Budget, the Australian Government allocated $0.8 million to administer\n$37.5 million of existing RIC loan funding for a new Plantation Development Concessional\nLoan. | `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)` |\n| $199.9M, $258.9M, $0.7M, $1.2M, $218M | [Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total fundin | `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)` |\n| $525, $13 | The 2023/24 operating budget Position:\nincluded a contingency of $525k in anticipation of potential unknowns under - Cash and cash\nthe new operating model, and the assumption of some significant external IT equivalents\n- Total payables\nsupport, which was not ultimately required to the degree anticipated.\n- Employee provisions\nEmployee expenses continue to be the largest category, amounting to $13\nStatement of Cash Flows\nmillion, or approximately | `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)` |\n| $318.5M | Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timefram | `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)` |\n| $1.67 | [Page 23]\nObjective: Unlock potential and deliver support to rural and regional Australia through\nconcessional finance\nPerformance Criteria: Loan transactions completed in accordance with funding\nappropriation and timelines\nKey Activity Performance Targets Measure Commentary\nMeasures Achieved\nNumber and value Support provided Fully achieved 1,499 Farm Business Loans\nof Farm Business within funding were settled in 2021-22\nLoans provided appropriat | `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)` |\n| $199.9m, $247.7m, $350.2m, $258.9m | Table 2: Portfolio management measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nAchieved\nAchieved\nNumber and value of loans Support provided within 240 approved loans valued at\n$199.9m approved loans within\napproved appropriation limits $247.7m within $350.2m\n$258.9m funding allocation\nfunding allocation\n95% of new loan decisions\nRisk is managed within Achieved Achieved\nare consistent with the risk\na | `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)` |\n| $318.5 million, 318.5 million, 50 per cent | We have reset some of the performance measures in this Corporate Plan as we to look to the\nfuture as follows:\n• Our target performance measure for loan processing timeframes is retained, but our\navailable loan facility in FY2024-25 will increase to $318.5 million, an almost 50 per cent\nincrease on FY2023-24 funding.\n• The introduction of a new performance measure on the rate that RIC loans give customers\ngreater confidence in the future and profi | `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)` |\n| $266M, 85 per cent | We have strengthened our loan processing timeframe performance measure to include the target\nof 85 per cent of eligible loans to be decisioned in 30 RIC-handling days for the $266M available\nloan facility for this financial year. | `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)` |\n| $318.5M, 80% | [Page 9]\nRegional Investment Corporation 9\nCorporate Plan 2024 – 2025\nTable 1 Performance measures\nKey\nOur performance measures Our target performance result\nactivity\n52-4202 62-5202 72-6202 82-7202\n1, 3 Maintain high customer satisfaction Customer satisfaction rating above 80%1    \nSupport provided within appropriation\n2 Number and value of loans approved   N/A N/A\nlimits2\nRisk is managed within acceptable 95% of new loan decisions are con | `corporate-plans/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf)` |\n| $349.7m, 80% | Table 1: Performance measures\nStrategic Key Our performance Our target performance 2025- 2026- 2027- 2028-\nobjective activity measures result 2026 2027 2028 2029\nTo be valued\nby customers\nMaintain high customer Customer satisfaction\nfor the 1, 2, 4    \nsatisfaction rating above 80%1\noutcomes we\nachieve\nNumber and value of Support provided within\n1  N/A N/A N/A\nloans approved appropriation limits2\nTo be a 95% of new loan decisions\nleader in 3 | `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)` |\n\n## Key Achievements\n\n- 85% of eligible loans\nLoan processing decisioned in 30 RIC-\n   N/A\ntimeframe handling days for the loan\nfacility of $218M 1\nWe will manage the credit risk in\nthe loan portfolio, with a focus on Risk is managed 95% of new loan decisions\nensuring all new loans are within acceptable are consistent with the risk    \nassessed in line with the credit tolerances appetite 3\nrisk appetite statement\nWe will implement the final Implement a loan Loan management system\nDec 23 N/A N/A N/A\nstages of the transformation management system implemented and functional 4\nprogram, involving the\ndeployment of new technology\nthat insources loan management Workforce capability\nWorkforce plan implemented\nand origination, and realigns our aligned to the new and embedded 5 Dec 23 N/A N/A N/A\nworkforce and capability to a new operating model\noperating model\nWe will increase customer\n  Source: `corporate-plans/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf)`\n- [Page 10]\nObjective Achieved Performance Performance Targets\nthrough Criteria Measures 2021-22 & beyond\nUnlock Key Loan - Number and value - Support is provided\npotential Activity A transactions of farm business within funding\nand deliver & Key are completed loans provided appropriation limits\nsupport to Activity B in accordance\nrural and with funding - Support available - Plantation\nregional appropriation to the forestry Development Loan is\nAustralia and delivery industry implemented\nthrough timeframes\n- Risk is managed - 90% of loan decisions\nconcessional\nwithin accepted are consistent with the\nfinance\ntolerances loan appetite\n- Loan processing - Financial risk\ntimeframes management program\nis implemented\n- 80% of farm business\nloans are processed\nwithin 65 RIC handling\ndays *\nData source: RIC loan data, compliance checks and audit findings, financial results\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- Deliver services Operate within\nIn 2022-23 we will track our\nprogress against a new loan\nefficiently within approved operating\n2, 3 approved funding budget5\nprocessing timeframe target,\nensuring customers receive 85% of eligible loans\na decision on their loan as decisioned in 30\nq\nth\nu\ne\nic\nm\nk l\nw\ny\ni\na\nth\ns\nt\np\nh\no\ne\ns\nir\ns\np\nib\nla\nle\nn\nt\nn\no\nin\nh\ng\ne lp L\ntim\noa\ne\nn\nfr\np\na\nr\nm\no\ne\nce ssing R\nfo\nI\nr\nC\nth\n-h\ne\na\nl\nn\no\nd\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment.\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- We will implement the final stages Implement a loan LMS implemented and Achieved LMS successfully went live from 13\nof the transformation program, management functional October 2023.\ninvolving the deployment of new system (LMS)\ntechnology that insources loan\nmanagement and origination, and Workforce Workforce plan The Workforce plan has been fully\nrealigns our workforce and capability aligned implemented and Achieved implemented with the probation of\ncapability to a new operating to the new embedded onboarded staff completed.\nmodel operating model\nWe will increase customer Improved Customer satisfaction Achieved 87% of RIC-assisted farmers\nsatisfaction to enhance our customer rating above 80% surveyed in 2023-24 were satisfied\ncustomer service and experience satisfaction with their overall experience with the\nRIC, a slight improvement on the 85%\nsatisfied with their experience when\n  Source: `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)`\n- Karen Smith-Pomeroy\nChair\n2024-2025 loan delivery highlights\nLoan funding delivered – settled loans\n221 New loans settled at $227.1m\n48 Drought Loans 44 AgriStarter Loans\nat $48.5mm at $45.1m\n129 Farm Investment Loans 0 AgBiz Drought Loans\nat $133.5m\nCustomer experience\n5,300+ Contact centre inbound and outbound calls\n89% Calls resolved first time\n94% Eligible loans decisioned in 30 RIC-handling days\nLoan management touchpoints\n997 Loan variation requests (a request from a customer to vary their\nRIC loan agreement)\n371 Loan reviews (risk-based review of customer loans)\n10 RIC Annual Report 2024-25\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- Over the course of 2020-21\nthe RIC has implemented and\ncontinues to implement a\nnumber of improvements to its\nFarm Business Loan processes\nwhich have contributed to the\nachievement of:\n- a scalable and dynamic service\nImproved\nImplement refined delivery model\nend-to-end Farm\nprocess and Achieved. - greater ownership and\nBusiness Loan\nWe will documentation. improvement of the customer\nprocess.\nimplement a experience\nprogram of Improve loan - improved infrastructure to drive\nloan process processes. better customer outcomes and\nimprovement efficiencies\ninitiatives. - segmented processing, first\nstage of workflow and CRM tools\ndelivered and have improved\nprocessing times.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- Figure 4: 2023-24 ESG achievements\nEnvironmental Social Governance\nReflect – Reconciliation\nEnergy consumption Modern Slavery\nAction Plan awaiting\nbaseline metrics Statement currently on\nendorsement by\nadopted track\nReconciliation Australia\nAnnual Board self-\nVehicle emission 0 worker’s compensation\nevaluation and skills\ntracking adopted claims since inception\nmatrix review\nGender pay gap\nImplemented Waste Strong female\ndecreased to 9.17% for\nManagement representation across\nFY24 vs national\nStrategy board positions\naverage of 12%\n  Source: `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)`\n- Australia and delivery industry implemented\nthrough timeframes In 2021-22 the gross value of agricultural production is expected to reach $65 billion2 favoured by\n- Risk is managed - 90% of loan decisions\nconcessional improved seasonal conditions in many drought-affected areas, high livestock prices and increased\nwithin accepted are consistent with the\nfinance\ngrain exports encouraging adaptable farm business management, strengthening business\ntolerances loan appetite\noperations and improving resilience and profitability.\n- Loan processing - Financial risk\ntimeframes management program\nThe Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June\nis implemented\nquarter 2021 Agriculture Commodities report assesses that initial disruptions to exports and food\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- [pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- [Page 24]\nAnnual Performance Measures for FY 2020-21\nPerfor-\nKey Performance Measure\nmance Targets Commentary\nActivity Measures Achieved\nCriteria\nStrategic Objective: Strengthen delivery of our functions\nThe RIC has achieved the\nperformance target for all\napplications received after 1\nDecrease in\nOctober 2020 and remains on\naverage Farm 80% of loans with\ntrack for those that are work-\nBusiness Loan an end-to-end Partially\nin-progress at the end of the\nprocessing delivery time of 65 Achieved.\nreporting period.\ntimeframes days.\n  Source: `annual-reports/2020-21.pdf (https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf)`\n- [pages 14,15,16,17]\ner En C g o a m g D m e i m g u i n t e a n ic l t a & T t e i o a n m , s Produc t T s e & am Projects Human Te R a e m sources Finance Team\nCustomer Research & Documents and Information &\nCredit & Risk Team Fulfilment Team Transformation Evaluation Settlements Team Technology Team\nManager Manager\nHealth, Safety and Wellbeing initiatives\nThe RIC delivered a range of Health, Safety and Wellbeing (HSW) initiatives over the\n2021-22 period including:\n• continued provision of full access to the RIC’s Employee Assistance Program\n• facilitated health and well-being sessions\n• the annual influenza vaccination program\n• a staff-led HSW Committee.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- Australia and delivery industry implemented\nthrough timeframes In 2021-22 the gross value of agricultural production is expected to reach $65 billion2 favoured by\n- Risk is managed - 90% of loan decisions\nconcessional improved seasonal conditions in many drought-affected areas, high livestock prices and increased\nwithin accepted are consistent with the\nfinance\ngrain exports encouraging adaptable farm business management, strengthening business\ntolerances loan appetite\noperations and improving resilience and profitability.\n- Loan processing - Financial risk\ntimeframes management program\nThe Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June\nis implemented\nquarter 2021 Agriculture Commodities report assesses that initial disruptions to exports and food\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 10]\nObjective Achieved Performance Performance Targets\nthrough Criteria Measures 2021-22 & beyond\nUnlock Key Loan - Number and value - Support is provided\npotential Activity A transactions of farm business within funding\nand deliver & Key are completed loans provided appropriation limits\nsupport to Activity B in accordance\nrural and with funding - Support available - Plantation\nregional appropriation to the forestry Development Loan is\nAustralia and delivery industry implemented\nthrough timeframes\n- Risk is managed - 90% of loan decisions\nconcessional\nwithin accepted are consistent with the\nfinance\ntolerances loan appetite\n- Loan processing - Financial risk\ntimeframes management program\nis implemented\n- 80% of farm business\nloans are processed\nwithin 65 RIC handling\ndays *\nData source: RIC loan data, compliance checks and audit findings, financial results\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 3]\nContents\nTransmittal letter 4\n1 Introduction from the Chair and CEO 5\n2 Year in review 6\n2.1 Loan results 6\n2.2 New programs and announcements 8\n2.3 Improvement initiatives 9\n2.4 Stakeholder engagement 10\n2.5 Advertising and market research 10\n3 Organisational overview 12\n3.1 Authority, purpose and direction 12\n3.2 About our organisation 13\n3.3 Corporate governance 15\n3.4 Approach to risk and fraud 18\n3.5 External scrutiny 19\n3.6 Directors and Officers indemnities and insurance 20\n4 Annual performance statements 21\n4.1 Statement of preparation 2 1\n4.2 Overview of performance 22\n5 Case studies - Impact of a RIC loan 26\n5.1 10-year loan term ticks all the boxes for ag start-up 26\n5.2 RIC Drought Loan brings relief to bee business 28\n5.3 Future-proofing a farm business for generations to come 30\n6 Financial Statements 32\n6.1 Independent auditor’s report 32\n6.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within within 65 RIC-handling\n65 RIC-handling days.\ndays (*excludes\nPlantation Loans)\nCredit risk is Implement the Partially achieved Review of the RIC’s loan\nmanaged within financial risk portfolio risk management\nacceptable management completed.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- Sally Bachelor of Sally is an experienced Board Member 20/07/2021 30/6/2022 8 of 8\nFreeman Commerce, Chartered Non-Executive Director\nAccountant, Graduate with a proven ability in risk\nof the Australian management, financial\nInstitute of Company and internal audit, board\nDirectors. governance, and compliance,\nhaving over 30 years’\nexperience in accounting and\nconsulting industries.\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- [Page 3]\nTable of Contents\nTransmittal letter 1\nIntroduction from the Chair and CEO 2\nKey statistics 3\nYear in review 4\nAnnouncements 5\nImprovement initiatives 5\nStakeholder engagement 5\nAdvertising and market research 6\nOrganisational overview 7\nAuthority, function and purpose 7\nAbout our organisation 8\nGovernance 11\nRIC Board 11\nRIC Audit Committee 12\nApproach to risk and fraud 13\nLegislative and government policy events 15\nAnnual performance statements 16\nStatement of preparation 16\nOverview of performance 17\nCase studies – making a difference to farm businesses 19\nNet Zero reporting 21\nFinancial statements 23\nIndependent auditor’s report 23\nStatement of Accountable Authority from the Chair, CEO and CFO 25\nAudited financial statements 26\nAppendices 42\nAppendix 1: Accountable Authority 42\nAppendix 2: Audit Committee 46\nAppendix 3: Management of human resources 47\n  Source: `annual-reports/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf)`\n- Figure 3: 2022-23 ESG targets and performance results\nEnvironmental Social Governance\nModern Slavery\nReflect – Reconciliation Action\nNet Zero by 2030\nPlan process commenced\nStatement to be\ndeveloped in 2023-24\nCommunity leave available to 5 audit and risk items\n100% renewable by 2030\nall staff currently open\nBoard self-evaluation\nEnergy consumption\n71 Health and Fitness\neach year.\n  Source: `annual-reports/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf)`\n- [pages 3,4,5,6]\n[Page 3]\nTable of Contents\nTransmittal letter 1\nIntroduction from the Chair and CEO 2\nYear in review 3\nKey statistics 3\nHighlights 4\nOrganisational overview 7\nAuthority, function and purpose 7\nAbout our organisation 8\nGovernance 10\nRIC Board 11\nApproach to risk, fraud and corruption 12\nLegislative and government policy events 15\nOther reporting requirements 16\nAnnual performance statements 21\nStatement of preparation 21\nOverview of performance 22\nMaking a difference to farm businesses 25\nFinancial statements 31\nIndependent auditor’s report 31\nStatement of Accountable Authority from the Chair, CEO and CFO 32\nAppendices 49\nAppendix 1: Accountable Authority 49\nAppendix 2: Audit Committee 52\nAppendix 3: Management of human resources 53\nAppendix 4: Executive remuneration 57\nAppendix 5: Compliance index 59\n  Source: `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)`\n- [pages 4,5,6]\n[Page 4]\nContents\nTransmittal 1\nIntroduction 2\nOverview 3\nAbout us 3\nOur customers 3\nOur people 8\nPart 1: Annual performance statements 10\nAccountable Authority statement 10\nPerformance results and analysis 11\nPart 2: Management and accountability 14\nGovernance 14\nApproach to risk, fraud and corruption 14\nCompliance with finance laws 15\nHealth, safety and wellbeing 15\nExternal scrutiny 15\nDirectors and Officers indemnities and insurance 16\nLegislative and policy events 16\nAdvertising and market research 16\nPart 3: Financial information 17\nIndependent auditor’s report 17\nStatement of Accountable Authority from the Chair, CEO and CFO 19\nFinancial statements 20\nPart 4: Appendices 36\nAppendix 1: Climate Statement 36\nAppendix 2: Accountable Authority 42\nAppendix 3: Audit and Risk Committee 44\nAppendix 4: Management of human resources 45\nAppendix 5: Executive remuneration 46\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- Table 2: Portfolio management measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nAchieved\nAchieved\nNumber and value of loans Support provided within 240 approved loans valued at\n$199.9m approved loans within\napproved appropriation limits $247.7m within $350.2m\n$258.9m funding allocation\nfunding allocation\n95% of new loan decisions\nRisk is managed within Achieved Achieved\nare consistent with the risk\nacceptable tolerances 100% 100%\nappetite\nThis financial year farm businesses faced a range of challenges that influenced demand for RIC loans and contributed\nto 71% of our annual loan funding appropriation being deployed.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [Page 47]\nName Post Nominals Qualifications of the Experience of the Accountable Authority Position Exec / Start End Date No. of\nAccountable Authority Title / non- Date (30 June meetings of\nPosition Exec (1 July 2025 or accountable\nheld 2024 or before) authority\nafter) attended\nSally Freeman BComm, FICA, Bachelor of Commerce, Sally is an experienced Non-Executive Director with Board Non- 1 July 30 June 4\nGAICD Fellow of the Institute of expertise in risk management, financial and internal audit, Member Exec 2024 2025\nChartered Accountants, board governance, and compliance.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- Table 13: Information about remuneration for key management personnel\nShort-term benefits Post-employment Other long-term benefits Termination Total remuneration\nbenefits benefits\nName Position title Base salary Bonuses Other Superannuation Long service leave Other long-\nbenefits and contributions term benefits\nallowances\nKaren Smith- Board Chair $95,111 $10,952 $106,063\nPomeroy\nPrue Bondfield Board member $47,560 $7,323 $54,883\nSharon Starick Board member and Audit $56,606 $6,518 $63,124\n& Risk Committee\nmember\nSally Freeman Board member and Audit $66,135 $6,986 $73,121\n& Risk Committee Chair\nMark Tucker Board member $47,560 $5,477 $53,037\nJohn Howard Chief Executive Officer $396,587 $30,068 $12,291 $438,947\nAlli Gregory Executive Director, $270,989 $29,568 $42,066 $342,624\nProgram Delivery\nMichael Jones Executive Director, $42,800 $4,969 $-1,107 $46,662\nCorporate Services\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- The Board provided leadership across several areas including:\n• Strategic planning and performance.\n• Loan portfolio performance and risk appetite setting and monitoring.\n• Oversight of progress on recommendations for the RIC from the Review of the Operation of the Regional\nInvestment Corporation Act 2018.\n• Oversight of Environmental, Social and Governance (ESG) initiatives including approval of the Reflect RAP\nand Emissions Reduction Plan.\n• Audit and Risk Committee membership appointments, Committee Charter review and Internal Audit Strategy\napproval.\n• Board governance matters including reviewing the Board Charter and Skills Matrix, Board-owned policy\nframeworks, and conducting the annual Board performance review.\n• The CEO performance review which included ensuring succession planning was in place for the CEO and\nsenior management roles.\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- We have an active Audit and Risk Committee that proactively manages risk, fraud and\ncorruption and ensures our controls are aligned with industry standards and government\npolicies, including the 2021 industry standard AS8001: Fraud and Corruption Control, the\nCommonwealth Risk Management Policy 2023, Australian Government Investigation\nStandards 2022, and the Commonwealth Fraud and Corruption Control Framework\n(2024).\n  Source: `annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)`\n\n## Corporate Values and Operating Culture\n\n- Table 1: Performance measures\nStrategic Key Our performance Our target performance 2025- 2026- 2027- 2028-\nobjective activity measures result 2026 2027 2028 2029\nTo be valued\nby customers\nMaintain high customer Customer satisfaction\nfor the 1, 2, 4    \nsatisfaction rating above 80%1\noutcomes we\nachieve\nNumber and value of Support provided within\n1  N/A N/A N/A\nloans approved appropriation limits2\nTo be a 95% of new loan decisions\nleader in 3 Risk is managed within are consistent with the risk  TBC TBC TBC\nAustralian acceptable tolerances appetite3\nGovernment\nService Average total time to\nprovision decision of 50 days for\nEligible loan processing\n2, 4 new applications within  N/A N/A N/A\ntimeframe\nthe funding appropriation\nof $349.7m2\nTo be valued\nas a key\nLoan monitoring and\npartner in 6 2 delivered4  TBC TBC TBC\nevaluation reports\nagricultural\npolicy delivery\n  Source: `corporate-plans/2025-26.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf)`\n- [pages 3,4,5]\nrategy:\n Approve:\n− the strategic direction of the RIC\n− significant strategic initiatives as identified in the Corporate Plan and RIC Strategy\nPolicy:\n Approve Board-owned frameworks outlined in the RIC Policy Framework\n Note committee-owned policies\nPeople:\n Evaluation of organisational culture, values and behaviours\n Succession and talent management of Executive Leadership Team\n Monitor work, health and safety practices\nRisk:\n Oversee risk and approve:\n− Enterprise-wide Risk Management Framework and Risk Appetite Statement\n− Loan management and credit risk\nCompliance\n Monitor compliance with Public Governance, Performance and Accountability (PGPA) Act, PGPA\nRules, RIC Act and RIC Operating Mandate\n Approve the annual financial statements and the annual report\nBudget:\n Approve:\n  Source: `other-pdfs/20241118_RIC_Board_Charter_Nov_2024.pdf (https://www.ric.gov.au/sites/default/files/documents/20241118_RIC_Board_Charter_Nov_2024.pdf)`\n- [pages 62,63,64]\nmore than $10,000 (inclusive of GST)\nthe decision-making process undertaken by the accountable authority to approve\nthe entity paying for a good or service from, or providing a grant to, the related\nCommonwealth entity or related company; and\nthe value of the transaction, or if there is more than one transaction, the number of\ntransactions and the aggregate of value of the transactions\n17BE(p) 2.2, 3.1 Any significant activities and changes that affected the operation or structure of the If applicable,\nentity during the reporting period mandatory\n17BE(q) Not Applicable Particulars of judicial decisions or decisions of administrative tribunals that may have If applicable,\na significant effect on the operations of the entity mandatory\n62 Regional Investment Corporation Annual Report 2021/22\n  Source: `annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)`\n- [pages 51,52]\nons with a related Commonwealth entity or related If applicable,\n17BE(o) company where the value of the transaction, or if there is more than mandatory\none transaction, the aggregate of those transactions, is more than\n$10,000 (inclusive of GST):\n(a) the decision-making process undertaken by the accountable\nauthority to approve the entity paying for a good or service from, or\nproviding a grant to, the related Commonwealth entity or related\ncompany; and\n(b) the value of the transaction, or if there is more than one\ntransaction, the number of transactions and the aggregate of value of\nthe transactions\n17BE(p) 8, 11, 16 Any significant activities and changes that affected the operation or If applicable,\nstructure of the entity during the reporting period mandatory\n47 RIC Annual Report 2024-25\n  Source: `annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)`\n- [Page 10]\nObjective Achieved Performance Performance Targets\nthrough Criteria Measures 2021-22 & beyond\nUnlock Key Loan - Number and value - Support is provided\npotential Activity A transactions of farm business within funding\nand deliver & Key are completed loans provided appropriation limits\nsupport to Activity B in accordance\nrural and with funding - Support available - Plantation\nregional appropriation to the forestry Development Loan is\nAustralia and delivery industry implemented\nthrough timeframes\n- Risk is managed - 90% of loan decisions\nconcessional\nwithin accepted are consistent with the\nfinance\ntolerances loan appetite\n- Loan processing - Financial risk\ntimeframes management program\nis implemented\n- 80% of farm business\nloans are processed\nwithin 65 RIC handling\ndays *\nData source: RIC loan data, compliance checks and audit findings, financial results\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- Australia and delivery industry implemented\nthrough timeframes In 2021-22 the gross value of agricultural production is expected to reach $65 billion2 favoured by\n- Risk is managed - 90% of loan decisions\nconcessional improved seasonal conditions in many drought-affected areas, high livestock prices and increased\nwithin accepted are consistent with the\nfinance\ngrain exports encouraging adaptable farm business management, strengthening business\ntolerances loan appetite\noperations and improving resilience and profitability.\n- Loan processing - Financial risk\ntimeframes management program\nThe Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June\nis implemented\nquarter 2021 Agriculture Commodities report assesses that initial disruptions to exports and food\n  Source: `corporate-plans/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf)`\n- [Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n- Deliver services Operate within\nIn 2022-23 we will track our\nprogress against a new loan\nefficiently within approved operating\n2, 3 approved funding budget5\nprocessing timeframe target,\nensuring customers receive 85% of eligible loans\na decision on their loan as decisioned in 30\nq\nth\nu\ne\nic\nm\nk l\nw\ny\ni\na\nth\ns\nt\np\nh\no\ne\ns\nir\ns\np\nib\nla\nle\nn\nt\nn\no\nin\nh\ng\ne lp L\ntim\noa\ne\nn\nfr\np\na\nr\nm\no\ne\nce ssing R\nfo\nI\nr\nC\nth\n-h\ne\na\nl\nn\no\nd\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment.\n  Source: `corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)`\n\n## Global Ideas and Case Study Inputs\n\n_No global-intelligence source text found yet. Run `CLAUDE/global-ideas-scraper.py <entity>` to populate case-study sources._\n\n## Source Artifacts Used\n\n- `corporate-plans/2021-22.pdf` - corporate-plans - https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf\n- `corporate-plans/2022-23.pdf` - corporate-plans - https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf\n- `corporate-plans/2023-24.pdf` - corporate-plans - https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf\n- `corporate-plans/2024-25.pdf` - corporate-plans - https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf\n- `corporate-plans/2025-26.pdf` - corporate-plans - https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf\n- `annual-reports/2020-21.pdf` - annual-reports - https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf\n- `annual-reports/2021-22.pdf` - annual-reports - https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf\n- `pages/about.html` - pages - https://www.ric.gov.au/about\n- `pages/annual-reports-index.html` - pages - https://www.ric.gov.au/about/reporting/annual-report\n- `pages/annual-reports-index__00.html` - pages - https://www.ric.gov.au/about/reporting/annual-report\n- `pages/annual-reports-index__01.html` - pages - https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf\n- `pages/annual-reports-index__02.html` - pages - https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf\n- `pages/annual-reports-index__03.html` - pages - https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf\n- `pages/annual-reports-index__04.html` - pages - https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf\n- `pages/annual-reports-index__05.html` - pages - https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf\n- `pages/annual-reports-index__06.html` - pages - https://www.ric.gov.au/sites/default/files/documents/Regional%20Investment%20Corporation%20Annual%20Report%202019-20%20correction%2012.2020.pdf\n- `pages/annual-reports-index__07.html` - pages - https://www.ric.gov.au/sites/default/files/documents/Regional%20Investment%20Corporation%20Annual%20Report%202018-19%20correction%2012.2020.pdf\n- `pages/annual-reports-index__08.html` - pages - https://www.ric.gov.au/sites/default/files/SiteCollectionDocuments/annual-report-2017-18.pdf\n- `pages/corporate-plans-index.html` - pages - https://www.ric.gov.au/about/reporting/corporate-plans\n- `pages/corporate-plans-index__09.html` - pages - https://www.ric.gov.au/about/reporting/corporate-plans\n- `pages/corporate-plans-index__10.html` - pages - https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf\n- `pages/corporate-plans-index__11.html` - pages - https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf\n- `pages/corporate-plans-index__12.html` - pages - https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf\n- `pages/corporate-plans-index__13.html` - pages - https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf\n- `pages/corporate-plans-index__14.html` - pages - https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf\n- `pages/corporate-plans-index__15.html` - pages - https://www.ric.gov.au/sites/default/files/documents/20240705_RIC-Corporate-Plan-2020-21.pdf\n- `pages/corporate-plans-index__16.html` - pages - https://www.ric.gov.au/sites/default/files/documents/REGIONAL_INVESTMENT_CORPORATION_CORPORATE_PLAN_2019%E2%80%9320_0.pdf\n- `pages/corporate-plans-index__17.html` - pages - https://www.ric.gov.au/sites/default/files/SiteCollectionDocuments/ric-corporate-plan.pdf\n- `pages/homepage.html` - pages - https://www.ric.gov.au/\n- `pages/leadership.html` - pages - https://www.ric.gov.au/about/our-executive-team\n- `pages/ministers.html` - pages - https://www.ric.gov.au/news/ric-drought-hardship-loan-applications-now-open\n- `pages/news-latest.html` - pages - https://www.ric.gov.au/news\n- `other-pdfs/20240305_RIC-Organisational-Chart.pdf` - other-pdfs - https://www.ric.gov.au/sites/default/files/documents/20240305_RIC-Organisational-Chart.pdf\n- `other-pdfs/20241118_RIC_Board_Charter_Nov_2024.pdf` - other-pdfs - https://www.ric.gov.au/sites/default/files/documents/20241118_RIC_Board_Charter_Nov_2024.pdf\n\n## Gaps To Fix\n\n- No global comparison/case-study sources found.",
  "legislation_md": "# Regional Investment Corporation - Acts and Legislation Discovery\n\n**Generated at**: 2026-05-09T21:02:21.486111+00:00\n**Entity ID**: O-004841\n**Jurisdiction**: Commonwealth\n**Portfolio**: Agriculture, Fisheries and Forestry\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: 25\n\n| Type | Count |\n|---|---:|\n| Act | 19 |\n| Instrument | 1 |\n| Regulation | 1 |\n| Rules | 4 |\n\n## Legislation References\n\n### Public Governance, Performance and Accountability Act 2013\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 21\n**Register search**: https://www.legislation.gov.au/search?query=Public+Governance%2C+Performance+and+Accountability+Act+2013\n\n**Sources**:\n- `pages/about.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- `corporate-plans/2021-22.pages.jsonl`\n- `corporate-plans/2022-23.pages.jsonl`\n- `corporate-plans/2023-24.pages.jsonl`\n- `corporate-plans/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- n\nMember of the Board\n20 July 2021\nKaren Smith-Pomeroy\nChair of the Board\n25 March 2020\nSharon Starick\nMember of the Board\n4 April 2019\nPrue Bondfield\nMember of the Board\n20 April 2018\nOur reporting obligations\nWe are a corporate Commonwealth entity under the\nPublic Governance, Performance and Accountability Act 2013\n(PGPA Act)\n. We meet the reporting obligations detailed in this and other legislation.\nRead more about\nwhat we report on.\nYou can find our Portfolio Budget Statement, Corporate Plans and Annual Reports on the Australian Government\nTransparency Portal\n.\nContac\n  Source: `pages/about.html`\n- ures risks are managed and key stakeholder relationships are\nsupported.\nOur governance framework includes:\n• the legislative foundation provided by the Regional Investment Corporation Act 2018,\nand various subordinate instruments, and relevant sections of the Public Governance,\nPerformance and Accountability Act 2013\n• two responsible Ministers, an independent Board and a Chief Executive Officer\n• an Audit Committee and internal audit function to provide independent advice and\nassurance on the RIC’s activities\n• a risk management and fraud control framework\n• a planning,\n  Source: `annual-reports/2020-21.pages.jsonl`\n- nual Report 2020/21 19\n\n[page 20]\n3. Annual performance\nstatements\n3.1 Statement of preparation\nI, Karen Smith-Pomeroy, on behalf of the RIC Board, present the agency’s performance\nstatements for 2020-21, prepared in accordance with subsection 39(1)(a) of the Public\nGovernance, Performance and Accountability Act 2013 (PGPA Act).\nIn the Board’s opinion, these performance statements accurately present the Regional\nInvestment Corporation’s performance for the year ending 30 June 2021 and comply with\nsubsection 39(2) of the PGPA Act.\nKaren Smith-Pomeroy\nChair of the Board\n20\n  Source: `annual-reports/2020-21.pages.jsonl`\n- lection, the current\nresponsible Ministers are Senator the Hon. Murray Watt, Minister for Agriculture, Fisheries\nand Forestry and Senator the Hon. Katy Gallagher, Minister for Finance.\nNo government policy orders were issued to the RIC under section 22 of the Public\nGovernance, Performance and Accountability Act 2013 (Cth) (PGPA Act) during the reporting\nperiod.\nThroughout the 2021-22 financial year there were a number of key government\nannouncements made to strengthen the financial support mechanisms in place for rural\nbusinesses. These required amendments to legislation\n  Source: `annual-reports/2021-22.pages.jsonl`\n- Report 2021/22\n\n[page 21]\n4. Annual performance\nstatements\n4.1 Statement of preparation\nI, Karen Smith-Pomeroy, on behalf of the RIC Board, present the agency’s annual\nperformance statements for 2021-22, prepared in accordance with subsection 39(1)(a)\nof the Public Governance, Performance and Accountability Act 2013 (PGPA Act).\nIn the Board’s opinion, these performance statements accurately present the\nRegional Investment Corporation’s performance for the year ending 30 June 2022\nand comply with subsection 39(2) of the PGPA Act (section 16F of the PGPA Rule).\nKaren Smith\n  Source: `annual-reports/2021-22.pages.jsonl`\n\n### Regional Investment Corporation Act 2018\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 18\n**Register search**: https://www.legislation.gov.au/search?query=Regional+Investment+Corporation+Act+2018\n\n**Sources**:\n- `pages/about.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/20241118_RIC_Board_Charter_Nov_2024.pages.jsonl`\n\n**Evidence contexts**:\n- for farm businesses and farm-related small businesses.\nOur purpose is to support the growth, resilience and sustainability of Australia's agricultural economy.\nOur vision is a stronger regional Australia through thriving regions.\nWe were established under the\nRegional Investment Corporation Act 2018 (RIC Act)\nRIC reports to both the Department of Agriculture, Fisheries and Forestry (DAFF) and the Department of Finance.\nOur head office is in Orange, Central West region of NSW and most of our workforce is based across regional Australia.\nOur regional workf\n  Source: `pages/about.html`\n- n\nindependent board\nin accordance with the RIC Act.\nRead the board charter here.\nOur board is appointed by the:\nMinister for Agriculture, Fisheries and Forestry\nMinister for Finance\nOrganisational structure\nRIC Organisational Chart\nAppointments made under the\nRegional Investment Corporation Act 2018\nName\nRole\nAppointment Date\nMark Tucker\nMember of the Board\n28 April 2023\nJohn Howard\nChief Executive Officer\n21 November 2022\nSally Freeman\nMember of the Board\n20 July 2021\nKaren Smith-Pomeroy\nChair of the Board\n25 March 2020\nSharon Starick\nMember of the Boar\n  Source: `pages/about.html`\n- Parliament House\nCANBERRA ACT 2600\nDear Ministers\nRegional Investment Corporation Annual Report 2020-21\nI am pleased to submit to you the 2020-21 Annual Report for the Regional\nInvestment Corporation (RIC). This report has been prepared in accordance with\nthe Regional Investment Corporation Act 2018 (RIC Act), the Public Governance,\nPerformance and Accountability Act 2013 (PGPA Act) and the Public Governance,\nPerformance and Accountability Rule 2014 (PGPA Rule).\nThe report includes annual performance statements prepared in accordance\nwith subsections 39(\n  Source: `annual-reports/2020-21.pages.jsonl`\n- of webinars, ensuring key stakeholders were kept informed during the period.\nRegional Investment Corporation Annual Report 2020/21 11\n\n[page 12]\n2. Organisational over view\n2.1 Authority, purpose and direction\nThe RIC began operations on 1 July 2018 under the Regional Investment Corporation Act 2018\n(RIC Act).\nThe RIC is a Corporate Commonwealth entity governed by an independent board appointed\nby, and accountable to, the Minister for Agriculture, and the Minister for Finance.\nOur purpose is to provide loans that support the long-term strength, resilienc\n  Source: `annual-reports/2020-21.pages.jsonl`\n- rts the RIC in achieving our objectives. Our governance framework promotes\naccountability, transparency, ensures risks are managed and key stakeholder relationships are\nsupported.\nOur governance framework includes:\n• the legislative foundation provided by the Regional Investment Corporation Act 2018,\nand various subordinate instruments, and relevant sections of the Public Governance,\nPerformance and Accountability Act 2013\n• two responsible Ministers, an independent Board and a Chief Executive Officer\n• an Audit Committee and internal audit function to p\n  Source: `annual-reports/2020-21.pages.jsonl`\n\n### Future Drought Fund Act 2019\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 9\n**Register search**: https://www.legislation.gov.au/search?query=Future+Drought+Fund+Act+2019\n\n**Sources**:\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- `corporate-plans/2025-26.pages.jsonl`\n\n**Evidence contexts**:\n- in infrastructure and\nmachinery.\nFuture Drought Fund\nThe Australian Government’s Future Drought Fund (the Fund) was established to finance\ninitiatives that enhance future drought resilience, preparedness and response across\nAustralia as provided for under the Future Drought Fund Act 2019 (the Act).\nFrom 1 July 2020, the Fund made $100 million available each year for initiatives that\nstrengthen the drought resilience of Australian farms and communities.\nIn support of the Australian Government’s Future Drought Fund, the RIC Board provides\nindep\n  Source: `annual-reports/2020-21.pages.jsonl`\n- hip across a number of areas including:\n• regularly reviewing performance against targets and setting strategic goals for future\nyears\n• approving changes in interest rates in accordance with interest rate methodology\n• discharging its advisory role under the Future Drought Fund Act 2019\n• overseeing all guidelines associated with new and changed loan products\n• renegotiation of the Lending Service Provider contract\n• formulation of the RIC’s Transformation Strategy\n• overseeing the allocation of additional government funding and making adjus\n  Source: `annual-reports/2020-21.pages.jsonl`\n- and management systems and services\n• undertaking CEO recruitment activities following the resignation of the\nRIC’s inaugural CEO\n• approving changes in interest rates in accordance with the interest rate methodology\n• discharging its advisory role under the Future Drought Fund Act 2019 (Cth) through\nresponding to 12 requests for advice from the Minister for Agriculture. The projects\nincluded activities contributing to drought resilience adoption and innovation hubs,\nresearch and leadership programs, and soil and landscape grants. The sum of\n  Source: `annual-reports/2021-22.pages.jsonl`\n- out an individual to a Credit Reporting Body.\nThe National Anti-Corruption Commission Act 2022 (Cth) was passed on 30 November 2022 and imposed\nnew obligations on the RIC as an extension of responsibilities under the PGPA Act and Rule.\nReview of Part 3 of the Future Drought Fund Act 2019\nIn this reporting year, the Australian Government asked the Productivity Commission to undertake an inquiry\nto assess the effectiveness of Part 3 of the Future Drought Fund Act 2019 (the FDF Act) including the\nprocesses and systems to administer, govern and e\n  Source: `annual-reports/2022-23.pages.jsonl`\n- sion of responsibilities under the PGPA Act and Rule.\nReview of Part 3 of the Future Drought Fund Act 2019\nIn this reporting year, the Australian Government asked the Productivity Commission to undertake an inquiry\nto assess the effectiveness of Part 3 of the Future Drought Fund Act 2019 (the FDF Act) including the\nprocesses and systems to administer, govern and evaluate programs, arrangements and grants made under\nPart 3 of the FDF Act.\nThe RIC Board provides advice to the Drought Minister under the FDF Act before the Minister makes an\narran\n  Source: `annual-reports/2022-23.pages.jsonl`\n\n### RIC Act), the Public Governance, Performance and Accountability Act 2013\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 5\n**Register search**: https://www.legislation.gov.au/search?query=RIC+Act%29%2C+the+Public+Governance%2C+Performance+and+Accountability+Act+2013\n\n**Sources**:\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\n**Evidence contexts**:\n- nisters\nRegional Investment Corporation Annual Report 2020-21\nI am pleased to submit to you the 2020-21 Annual Report for the Regional\nInvestment Corporation (RIC). This report has been prepared in accordance with\nthe Regional Investment Corporation Act 2018 (RIC Act), the Public Governance,\nPerformance and Accountability Act 2013 (PGPA Act) and the Public Governance,\nPerformance and Accountability Rule 2014 (PGPA Rule).\nThe report includes annual performance statements prepared in accordance\nwith subsections 39(1) and (2) of the PGPA Act, and audited financial statements\nprepared in a\n  Source: `annual-reports/2020-21.pages.jsonl`\n- ers\nRegional Investment Corporation Annual Report 2021-22\nI am pleased to submit to you the 2021-22 Annual Report for the Regional Investment\nCorporation (the RIC). This report has been prepared in accordance with the Regional\nInvestment Corporation Act 2018 (RIC Act), the Public Governance, Performance and\nAccountability Act 2013 (PGPA Act) and the Public Governance, Performance and\nAccountability Rule 2014 (PGPA Rule).\nThe report includes annual performance statements prepared in accordance with\nsubsections 39(1) and (2) of the PGPA Act, and audited financial statements prepared\nin a\n  Source: `annual-reports/2021-22.pages.jsonl`\n- ers\nRegional Investment Corporation Annual Report 2022-23\nI am pleased to submit to you the 2022-23 Annual Report for the Regional Investment Corporation (the RIC). This report has\nbeen prepared in accordance with the Regional Investment Corporation Act 2018 (RIC Act), the Public Governance,\nPerformance and Accountability Act 2013 (PGPA Act) and the Public Governance, Performance and Accountability Rule 2014\n(PGPA Rule).\nThe report includes annual performance statements prepared in accordance with subsections 39(1) and (2) of the PGPA Act,\nand audited financial statements prepared in a\n  Source: `annual-reports/2022-23.pages.jsonl`\n- ers\nRegional Investment Corporation Annual Report 2023-24\nI am pleased to submit to you the 2023-24 Annual Report for the Regional\nInvestment Corporation (the RIC). This report has been prepared in accordance with\nthe Regional Investment Corporation Act 2018 (RIC Act), the Public Governance,\nPerformance and Accountability Act 2013 (PGPA Act) and the Public Governance,\nPerformance and Accountability Rule 2014 (PGPA Rule).\nThe report includes annual performance statements prepared in accordance with\nsubsections 39(1) and (2) of the PGPA Act, and audited financial statements\nprepared in a\n  Source: `annual-reports/2023-24.pages.jsonl`\n- r\nMinister for Finance\nDear Ministers\nRegional Investment Corporation (RIC) Annual Report 2024-25\nI am pleased to submit to you RIC’s 2024-25 Annual Report.\nThe report has been prepared in accordance with the with the Regional Investment Corporation Act 2018 (RIC Act),\nthe Public Governance, Performance and Accountability Act 2013 (PGPA Act) and the Public Governance,\nPerformance and Accountability Rule 2014 (PGPA Rule).\nThe report includes annual performance statements prepared in accordance with subsections 39(1) and (2) of the\nPGPA Act, and audited financial statements prepared in a\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Commonwealth Electoral Act 1918\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 4\n**Register search**: https://www.legislation.gov.au/search?query=Commonwealth+Electoral+Act+1918\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\n**Evidence contexts**:\n- onsibility of the\nCOVID-19 response team. Associated initiatives and promotions were coordinated by\nthe team. A strong compliance across the RIC for COVID-19 related restrictions and\nprotocols has continued.\nAdvertising and market research\nSection 311A of the Commonwealth Electoral Act 1918 requires Australian Government\ndepartments and agencies to set out in their annual reports details of amounts greater\nthan $13,800 (inclusive of GST) paid by or on behalf of them during the year to advertising\nagencies, market research organisations, polling\n  Source: `annual-reports/2020-21.pages.jsonl`\n- s in 2021-22 are as follows.\nTotal amount paid\nOrganisation Purpose\nin 2021-2022\nStreem Pty Ltd Media Monitoring $22,440\nRural Press Pty Ltd Advertising $196,123\nNews Pty Ltd Advertising $93,940\nSprout Social Media Monitoring $15,684\nNote: Section 311A of the Commonwealth Electoral Act 1918 requires Australian Government departments and\nagencies to set out in their annual report details of amounts greater than $13,800 (inclusive of GST) paid by or\non behalf of them during the year to advertising agencies, market research organisations, polling o\n  Source: `annual-reports/2021-22.pages.jsonl`\n- vertising $19,944\nHootsuite Social media content management $17,852\nStreem Pty Ltd Media monitoring $22,770\nSeek Recruitment advertising $16,872\nJWS Consulting Pty Ltd Market Research $45,000\nTaverner Research Market Research $46,750\nNote:\nSection 311A of the Commonwealth Electoral Act 1918 requires Australian Government departments and agencies to set out in their annual report details of\namounts greater than $16,300 (inclusive of GST) paid by or on behalf of them during the year to advertising agencies, market research organisations, polling\no\n  Source: `annual-reports/2023-24.pages.jsonl`\n- isation Purpose Total amount paid $\nJWS Pty Ltd Market Research $42,780\nGoogle Advertising $26,506\nStreem Pty Ltd Media Monitoring $22,440\nHootsuite Inc. Social media content management $19,637\nRural Press Pty Ltd Advertising $18,834\nNote: Section 311A of the Commonwealth Electoral Act 1918 requires Australian Government departments and agencies to set out in their annual report details of amounts\ngreater than $16,900 (inclusive of GST) paid by or on behalf of them during the year to advertising agencies, market research organisations, polling o\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Fair Work Legislation Amendment (Closing Loopholes) Act 2023\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 3\n**Register search**: https://www.legislation.gov.au/search?query=Fair+Work+Legislation+Amendment+%28Closing+Loopholes%29+Act+2023\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- ibuted to the Commonwealth. As a result of\nthis, we undertook a risk assessment on psychosocial hazards in the workplace with a\nsubsequent update of policies, procedures and training to ensure compliance and support\nour staff.\nFair Work Legislation Amendment (Closing Loopholes) Act 2023\nOn 15 December 2023, the Fair Work Legislation Amendment (Closing Loopholes) Act\n2023 was passed to amend the Fair Work Act 2009 which criminalised wage theft,\nregulated labour hire arrangement orders and provided stronger protections against\ndiscrimination,\n  Source: `annual-reports/2023-24.pages.jsonl`\n- chosocial hazards in the workplace with a\nsubsequent update of policies, procedures and training to ensure compliance and support\nour staff.\nFair Work Legislation Amendment (Closing Loopholes) Act 2023\nOn 15 December 2023, the Fair Work Legislation Amendment (Closing Loopholes) Act\n2023 was passed to amend the Fair Work Act 2009 which criminalised wage theft,\nregulated labour hire arrangement orders and provided stronger protections against\ndiscrimination, adverse action and harassment.\nOther reporting requirements\nAPS Net Zero 2030 emission\n  Source: `annual-reports/2023-24.pages.jsonl`\n- ves provided us with a baseline understanding of the risks that may be present\nwhich will support our formulation of a plan to address psychosocial risk.\n• Industrial manslaughter came into effect on 1 July 2024 as part of the Fair Work Legislation Amendment\n(Closing Loopholes) Act 2023 to strengthen Commonwealth work, health and safety offences and penalties.\nAs a result, we communicated with RIC Board and management on their obligations under this new\nlegislation.\nDuring the year, there were no notifiable incidents, and no lost-time injuri\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Review of the Operation of the Regional Investment Corporation Act 2018\n\n**Type**: Act\n**Confidence**: high\n**Mentions**: 3\n**Register search**: https://www.legislation.gov.au/search?query=Review+of+the+Operation+of+the+Regional+Investment+Corporation+Act+2018\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- e October 2023, this year we continued to\nrefine our systems, processes and data capabilities, and mature our enterprise and credit risk management and\ncompliance approach. We also undertook a large body of work to address recommendations for the RIC from the\nReview of the Operation of the Regional Investment Corporation Act 2018.\nWe are grateful to the RIC team for their unwavering dedication to our customers, to our unique workplace culture,\nand to continuous improvement. Through our people, we have continued to deliver positive, practical and direct\nbenefits to farm businesses that\n  Source: `annual-reports/2024-25.pages.jsonl`\n- e run\nour business. The workforce review ensured we continue to effectively and efficiently direct our people and\nfinancial resources against emerging priorities. Emerging priorities this year included addressing\nrecommendations for the RIC resulting from the Review of the Operation of the Regional Investment\nCorporation Act 2018; and increasing our capability in evolving areas such as data collection and forecasting,\nmeasuring policy impact, enterprise and credit risk management and governance. We were able to effect the\nchanges we sought without any change to our Average Staffing Le\n  Source: `annual-reports/2024-25.pages.jsonl`\n- ers in between meetings.\nThe Board provided leadership across several areas including:\n• Strategic planning and performance.\n• Loan portfolio performance and risk appetite setting and monitoring.\n• Oversight of progress on recommendations for the RIC from the Review of the Operation of the Regional\nInvestment Corporation Act 2018.\n• Oversight of Environmental, Social and Governance (ESG) initiatives including approval of the Reflect RAP\nand Emissions Reduction Plan.\n• Audit and Risk Committee membership appointments, Committee Charter review and Internal Audit Strategy\napproval.\n• Boa\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Development Concessional Loan Regional Investment Corporation (Plantation Development Concessional Loans) Rules 2021\n\n**Type**: Rules\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Development+Concessional+Loan+Regional+Investment+Corporation+%28Plantation+Development+Concessional+Loans%29+Rules+2021\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n\n**Evidence contexts**:\n- tive details are as follows:\n• AgriStarter\nRegional Investment Corporation (Agristarter Loans) Amendment (Share Farming and Farm\nLeasing) Rules 2022 (Cth) registered on 31 March 2022.\n• Plantation Development Concessional Loan\nRegional Investment Corporation (Plantation Development Concessional Loans) Rules 2021\n(Cth) registered on 3 December 2021.\n12 Regional Investment Corporation Annual Report 2021/22\n\n[page 13]\n3.2 About our organisation\nOur culture\nThe culture statement of the RIC was re-defined during 2021-22.\nOur location\nThe RIC operates from its headquarters\n  Source: `annual-reports/2021-22.pages.jsonl`\n\n### Independent Review of the Operation of the Regional Investment Corporation Act 2018\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Independent+Review+of+the+Operation+of+the+Regional+Investment+Corporation+Act+2018\n\n**Sources**:\n- `corporate-plans/2025-26.pages.jsonl`\n\n**Evidence contexts**:\n- ooperate with the Department of Agriculture, Forestry and Fisheries (DAFF) and Department of Finance, under\nthe guidance of our responsible Ministers. In particular, we will continue to work together to implement\nrecommendations for the RIC resulting from the Independent Review of the Operation of the Regional Investment\nCorporation Act 2018 delivered in 2024, much of which is engrained in our continuous improvement approach to\nenhancing our data, systems and insights.\nThrough our Portfolio Budget Statements Linked Programs, we remain a key partner in delivering concessional loans\nas part of the\n  Source: `corporate-plans/2025-26.pages.jsonl`\n\n### Privacy Amendment (Regional Investment Corporation) Regulations 2023\n\n**Type**: Regulation\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Privacy+Amendment+%28Regional+Investment+Corporation%29+Regulations+2023\n\n**Sources**:\n- `annual-reports/2022-23.pages.jsonl`\n\n**Evidence contexts**:\n- nsurance and premiums were paid and up to date.\nThere have been no claims against the liability insurance for the reporting period.\nRegional Investment Corporation 14\nAnnual Report 2022-23\n\n[page 18]\nLegislative and government policy events\nPrivacy Amendment (Regional Investment Corporation) Regulations 2023\nIn May 2023 the RIC was prescribed as a ‘credit provider’ under Part IIIA, Division 3 of the Privacy Act 1988.\nThe status of credit provider empowers the RIC to obtain information from Credit Reporting Bodies to\nadminister and manage loans and perform its fun\n  Source: `annual-reports/2022-23.pages.jsonl`\n\n### RIC Act, the Review of the Operation of the Regional Investment Corporation Act 2018\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=RIC+Act%2C+the+Review+of+the+Operation+of+the+Regional+Investment+Corporation+Act+2018\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- egional Investment Corporation\n(Plantation Development Concessional Loans) Repeal Rules 2024. The Loan’s funding appropriation of\n$37.5 million was redirected for use within RIC’s farm business loan appropriation funding.\n• As required under section 53 of the RIC Act, the Review of the Operation of the Regional Investment\nCorporation Act 2018 was published on 31 July 2024. Through the year we worked on recommendations\ndirected to the RIC in collaboration with our colleagues at the Department of Agriculture, Fisheries and\nForestry. Many of these recommendations had data collection at their core. Ha\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Regional Investment Corporation (Plantation Development Concessional Loans) Repeal Rules 2024\n\n**Type**: Rules\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Regional+Investment+Corporation+%28Plantation+Development+Concessional+Loans%29+Repeal+Rules+2024\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- events\nThe RIC was not issued any ministerial directions during the year. The following matters occurred in relation to\nlegislation and government policy:\n• In November 2024, the former Plantation Loan was repealed through the Regional Investment Corporation\n(Plantation Development Concessional Loans) Repeal Rules 2024. The Loan’s funding appropriation of\n$37.5 million was redirected for use within RIC’s farm business loan appropriation funding.\n• As required under section 53 of the RIC Act, the Review of the Operation of the Regional Investment\nCorporation Act 2018 was pub\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Regional Investment Corporation (Small Business Drought Loans) Rules 2020\n\n**Type**: Rules\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Regional+Investment+Corporation+%28Small+Business+Drought+Loans%29+Rules+2020\n\n**Sources**:\n- `annual-reports/2020-21.pages.jsonl`\n\n**Evidence contexts**:\n- d:\n1. Regional Investment Corporation (Agristarter Loans) Rule 2019. The RIC complied with\nthis direction to offer loans to new entrants to farming business, and farm businesses\nseeking to engage in succession arrangements.\n2. Regional Investment Corporation (Small Business Drought Loans) Rules 2020. The\nRIC complied with this direction to offer loans to drought-affected small businesses.\n3. Regional Investment Corporation Operating Mandate Amendment (Drought and\nSmall Business Drought Loans) (Cessation of Interest-Free Period) Amendment\nInstrument 2020.\n  Source: `annual-reports/2020-21.pages.jsonl`\n\n### Statutory Review of the Regional Investment Corporation Act 2018\n\n**Type**: Act\n**Confidence**: medium\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Statutory+Review+of+the+Regional+Investment+Corporation+Act+2018\n\n**Sources**:\n- `corporate-plans/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- services. Working on ways to make it easier to do business with the RIC has\nbecome possible through full ownership of the customer experience that we now have, and this\nyear we will see the benefits of this change really start to shine.\nEarly in 2024-25, the Statutory Review of the Regional Investment Corporation Act 2018 (RIC Act)\nwill have been completed and made available to the Agriculture, Forestry and Fisheries Minister,\nFinance Minister, Parliament, and the public. With RIC’s current loan funding appropriation due to\nend on 30 June 2026, the outcomes of the review will\n  Source: `corporate-plans/2024-25.pages.jsonl`\n\n### Environment Protection and Biodiversity Conservation Act 1999\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Environment+Protection+and+Biodiversity+Conservation+Act+1999\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- y for the Australian Public Service (APS) to\nreduce its greenhouse gas emissions to net zero by 2030, and transparently report on its\nemissions. As part of the Net Zero in Government Operations Strategy and the reporting\nrequirements under section 516A of the Environment Protection and Biodiversity\nConservation Act 1999, corporate Commonwealth entities such as RIC are required to\nreport on their operational greenhouse gas emissions.\nThe Greenhouse Gas Emissions Inventory presents greenhouse gas emissions over the\n2023–24 period based on Carbon Dioxide Equivalent (CO -e) emis\n  Source: `annual-reports/2023-24.pages.jsonl`\n- nual Report 2024-25\n\n[page 36]\n32 RIC Annual Report 2024-25\n\n[page 37]\n33 RIC Annual Report 2024-25\n\n[page 38]\n34 RIC Annual Report 2024-25\n\n[page 39]\n35 RIC Annual Report 2024-25\n\n[page 40]\nPart 4: Appendices\nAppendix 1: Climate Statement\nSection 516A of the Environment Protection and Biodiversity Conservation Act 1999 requires an annual report on\nmeasures to minimise our effect on the environment, the mechanisms (if any) for reviewing and increasing\neffectiveness of those measures and our contribution to the principles of ecologically sustainable development. This\nsection\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n### Goods and Services Tax) Act 1999\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Goods+and+Services+Tax%29+Act+1999\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n- `annual-reports/2022-23.pages.jsonl`\n\n**Evidence contexts**:\n- are input taxed and acquisitions made in connection with the making of financial supplies are not creditable\nwhere the Financial Acquisitions Threshold is exceeded.\nDespite the RIC exceeding the Financial Acquisitions Threshold as defined in A new tax system (Goods and\nServices Tax) Act 1999 the RIC is entitled to claim an input tax credit of 75% of the input tax credits on acquisitions\nof a type listed in the GST regulations, this includes the Loan Service Provider fees and fees paid for other loan\nprocessing services incurred by the RIC.\nEvents\n  Source: `annual-reports/2021-22.pages.jsonl`\n- are input taxed\nand acquisitions made in connection with the making of financial supplies are not creditable where the Financial\nAcquisitions Threshold is exceeded.\nDespite the RIC exceeding the Financial Acquisitions Threshold as defined in A new tax system (Goods and Services\nTax) Act 1999 the RIC is entitled to claim an input tax credit of 75% of the input tax credits on acquisitions of a type listed\nin the GST regulations, this includes the Loan Service Provider fees and fees paid for other loan processing services\nincurred by the RIC.\nEvents\n  Source: `annual-reports/2022-23.pages.jsonl`\n\n### Work Health and Safety Amendment Act 2023\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 2\n**Register search**: https://www.legislation.gov.au/search?query=Work+Health+and+Safety+Amendment+Act+2023\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- n pay\nand conditions to inform non-Australian Public Service agencies. We enhanced our\nemployment conditions to include increased parental leave entitlements, cultural leave\nentitlements and increased various other leave conditions in line with those reforms.\nWork Health and Safety Amendment Act 2023\nThe Work Health and Safety Amendment Act 2023 which was implemented in September\n2023 resulted in the commencement of new regulations in relation to psychosocial risks\nwhich provide increased penalties for contravention of duty by officers and a New Part 13,\n  Source: `annual-reports/2023-24.pages.jsonl`\n- ian Public Service agencies. We enhanced our\nemployment conditions to include increased parental leave entitlements, cultural leave\nentitlements and increased various other leave conditions in line with those reforms.\nWork Health and Safety Amendment Act 2023\nThe Work Health and Safety Amendment Act 2023 which was implemented in September\n2023 resulted in the commencement of new regulations in relation to psychosocial risks\nwhich provide increased penalties for contravention of duty by officers and a New Part 13,\nDivision 5 which allows criminality to be attr\n  Source: `annual-reports/2023-24.pages.jsonl`\n\n### Amendment (Share Farming and Farm Leasing) Rules 2022\n\n**Type**: Rules\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Amendment+%28Share+Farming+and+Farm+Leasing%29+Rules+2022\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n\n**Evidence contexts**:\n- ents to legislation administered by the RIC under\nsection 54 of the RIC Act and resulted in changes to our functions and principal activities.\nThe legislative details are as follows:\n• AgriStarter\nRegional Investment Corporation (Agristarter Loans) Amendment (Share Farming and Farm\nLeasing) Rules 2022 (Cth) registered on 31 March 2022.\n• Plantation Development Concessional Loan\nRegional Investment Corporation (Plantation Development Concessional Loans) Rules 2021\n(Cth) registered on 3 December 2021.\n12 Regional Investment Corporation Annual Report 2021/22\n  Source: `annual-reports/2021-22.pages.jsonl`\n\n### Auditor-General Act 1997\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Auditor-General+Act+1997\n\n**Sources**:\n- `annual-reports/2021-22.pages.jsonl`\n\n**Evidence contexts**:\n- include the relevant independence requirements of the Accounting Professional and Ethical\nStandards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code)\nto the extent that they are not in conflict with the Auditor-General Act 1997. I have also fulfilled my other responsibilities\nin accordance with the Code. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a\nbasis for my opinion.\nAccountable Authority’s responsibility for the financial statement\n  Source: `annual-reports/2021-22.pages.jsonl`\n\n### Cessation of Interest-Free Period) Amendment Instrument 2020\n\n**Type**: Instrument\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Cessation+of+Interest-Free+Period%29+Amendment+Instrument+2020\n\n**Sources**:\n- `annual-reports/2020-21.pages.jsonl`\n\n**Evidence contexts**:\n- estment Corporation (Small Business Drought Loans) Rules 2020. The\nRIC complied with this direction to offer loans to drought-affected small businesses.\n3. Regional Investment Corporation Operating Mandate Amendment (Drought and\nSmall Business Drought Loans) (Cessation of Interest-Free Period) Amendment\nInstrument 2020. The RIC complied with this direction to cease offering interest-free\nterms to eligible farm businesses and eligible small businesses that submitted an\napplication on or after 1 October 2020.\n4. Regional Investment Corporation Operating Mandate Amendment (Nat\n  Source: `annual-reports/2020-21.pages.jsonl`\n\n### Credit Reporting Body. The National Anti-Corruption Commission Act 2022\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Credit+Reporting+Body.+The+National+Anti-Corruption+Commission+Act+2022\n\n**Sources**:\n- `annual-reports/2022-23.pages.jsonl`\n\n**Evidence contexts**:\n- status of credit provider empowers the RIC to obtain information from Credit Reporting Bodies to\nadminister and manage loans and perform its functions under the RIC Act, in addition to permitting the RIC\nto disclose credit information about an individual to a Credit Reporting Body.\nThe National Anti-Corruption Commission Act 2022 (Cth) was passed on 30 November 2022 and imposed\nnew obligations on the RIC as an extension of responsibilities under the PGPA Act and Rule.\nReview of Part 3 of the Future Drought Fund Act 2019\nIn this reporting year, the Australian Government asked the Produ\n  Source: `annual-reports/2022-23.pages.jsonl`\n\n### Fair Work Act 2009\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Fair+Work+Act+2009\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- update of policies, procedures and training to ensure compliance and support\nour staff.\nFair Work Legislation Amendment (Closing Loopholes) Act 2023\nOn 15 December 2023, the Fair Work Legislation Amendment (Closing Loopholes) Act\n2023 was passed to amend the Fair Work Act 2009 which criminalised wage theft,\nregulated labour hire arrangement orders and provided stronger protections against\ndiscrimination, adverse action and harassment.\nOther reporting requirements\nAPS Net Zero 2030 emissions reporting\nAPS Net Zero 2030 is the Govern\n  Source: `annual-reports/2023-24.pages.jsonl`\n\n### National Anti-Corruption Commission Act 2022\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=National+Anti-Corruption+Commission+Act+2022\n\n**Sources**:\n- `annual-reports/2022-23.pages.jsonl`\n\n**Evidence contexts**:\n- ple strategy to specifically address and mitigate the risk of the\nloss of key personnel and attract the right people to the right roles. Our risk appetite statement has also been\nupdated to more accurately reflect the risks associated with our loan portfolio.\nThe National Anti-Corruption Commission Act 2022 imposed additional obligations on the RIC as an\nextension of responsibilities under the PGPA Act and Rule. To meet those obligations, the RIC extended its\nrisk register to include corruption and therefore capture the RIC’s corruption potential exposure, likel\n  Source: `annual-reports/2022-23.pages.jsonl`\n\n### New Tax System (Goods and Services Tax) Act 1999\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=New+Tax+System+%28Goods+and+Services+Tax%29+Act+1999\n\n**Sources**:\n- `annual-reports/2023-24.pages.jsonl`\n\n**Evidence contexts**:\n- are input taxed and acquisitions made in connection with the making of financial supplies are not creditable\nwhere the Financial Acquisitions Threshold is exceeded.\nDespite the RIC exceeding the Financial Acquisitions Threshold as defined in A New Tax System (Goods and\nServices Tax) Act 1999 the RIC is entitled to claim an input tax credit of 75% of the input tax credits on acquisitions\nof a type listed in the GST regulations, this includes the Loan Service Provider fees and fees paid for other loan\nprocessing services incurred by the RIC.\nEvents\n  Source: `annual-reports/2023-24.pages.jsonl`\n\n### Public Service Act 1999\n\n**Type**: Act\n**Confidence**: low\n**Mentions**: 1\n**Register search**: https://www.legislation.gov.au/search?query=Public+Service+Act+1999\n\n**Sources**:\n- `annual-reports/2024-25.pages.jsonl`\n\n**Evidence contexts**:\n- ancial self-reliance and\nfacilitate recovery. We continued to make available our Drought and AgBiz Drought Loans during the year.\n• The Australian Government’s APS Strategic Commissioning Framework did not apply to the RIC, as we do\nnot employ staff under the Public Service Act 1999.\nAdvertising and market research\nPayments to media, market research and advertising organisations are outlined in Table 4.\nTable 4: Payments to media, market research and advertising organisations in 2024-25\nOrganisation Purpose Total amount paid $\nJWS Pty Lt\n  Source: `annual-reports/2024-25.pages.jsonl`\n\n## Files Scanned\n\n- `pages/about.html` (page)\n- `pages/annual-reports-index.html` (page)\n- `pages/annual-reports-index__00.html` (page)\n- `pages/annual-reports-index__01.html` (page)\n- `pages/annual-reports-index__02.html` (page)\n- `pages/annual-reports-index__03.html` (page)\n- `pages/annual-reports-index__04.html` (page)\n- `pages/annual-reports-index__05.html` (page)\n- `pages/annual-reports-index__06.html` (page)\n- `pages/annual-reports-index__07.html` (page)\n- `pages/annual-reports-index__08.html` (page)\n- `pages/contact.html` (page)\n- `pages/corporate-plans-index.html` (page)\n- `pages/corporate-plans-index__09.html` (page)\n- `pages/corporate-plans-index__10.html` (page)\n- `pages/corporate-plans-index__11.html` (page)\n- `pages/corporate-plans-index__12.html` (page)\n- `pages/corporate-plans-index__13.html` (page)\n- `pages/corporate-plans-index__14.html` (page)\n- `pages/corporate-plans-index__15.html` (page)\n- `pages/corporate-plans-index__16.html` (page)\n- `pages/corporate-plans-index__17.html` (page)\n- `pages/homepage.html` (page)\n- `pages/leadership.html` (page)\n- `pages/ministers.html` (page)\n- `pages/news-latest.html` (page)\n- `annual-reports/2020-21.pages.jsonl` (pdf_pages)\n- `annual-reports/2021-22.pages.jsonl` (pdf_pages)\n- `annual-reports/2022-23.pages.jsonl` (pdf_pages)\n- `annual-reports/2023-24.pages.jsonl` (pdf_pages)\n- `annual-reports/2024-25.pages.jsonl` (pdf_pages)\n- `corporate-plans/2021-22.pages.jsonl` (pdf_pages)\n- `corporate-plans/2022-23.pages.jsonl` (pdf_pages)\n- `corporate-plans/2023-24.pages.jsonl` (pdf_pages)\n- `corporate-plans/2024-25.pages.jsonl` (pdf_pages)\n- `corporate-plans/2025-26.pages.jsonl` (pdf_pages)\n- `other-pdfs/20240305_RIC-Organisational-Chart.pages.jsonl` (pdf_pages)\n- `other-pdfs/20241118_RIC_Board_Charter_Nov_2024.pages.jsonl` (pdf_pages)",
  "global_initiatives_md": null,
  "strategy": {
    "reporting_period": "2024-25",
    "corporate_plan_period": "2025-26",
    "vision": null,
    "vision_source_page": null,
    "purposes": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]",
    "purposes_source_page": 7,
    "how_we_deliver": "We deliver government policy through low-interest loans to farm businesses and farm-related small businesses [CP p.4]",
    "how_we_deliver_source_page": 4,
    "government_priorities": [
      {
        "text": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy",
        "source_page": null
      }
    ],
    "outcomes": [
      {
        "name": "Outcome 1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities",
        "description": "By delivering the Commonwealth’s farm business concessional loans",
        "key_activities": [
          "Delivering concessional loans to farm businesses",
          "Supporting farm businesses through financial disruptions"
        ],
        "source_page": 7
      }
    ],
    "values": [
      "Be bold, act with purpose and act as one",
      "We are down to earth",
      "We embrace difference"
    ],
    "values_framework_name": "RIC Values",
    "kpi_targets_2025_26": [
      {
        "code": "CCE01",
        "measure": "Average total days to decision of 50 days",
        "target": "Average total days to decision of 50 days",
        "source_page": null
      },
      {
        "code": "NPS",
        "measure": "Net Promoter Score",
        "target": ">20%",
        "source_page": null
      }
    ],
    "kpi_results_2024_25": [
      {
        "code": "CCE01",
        "measure": "Average total days to decision",
        "result": "50 days",
        "status": "Achieved",
        "source_page": null
      },
      {
        "code": "NPS",
        "measure": "Net Promoter Score",
        "result": ">20%",
        "status": "Achieved",
        "source_page": null
      }
    ],
    "_source_urls": {
      "annual_report_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
      "corporate_plan_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf"
    }
  },
  "ideas": [
    {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total funding allocation.\ntimelines\nDeliver services Operate within Achieved Year-end $0.7M surplus result within\nefficiently within approved operating the year-end budget deficit of $1.2M.\napproved funding budget\nLoan processing 85% of eligible loans Achieved 198 of 209 eligible loans were\ntimeframe decisioned in 30 RIC- decisioned within 30 RIC-handling\nhandling days for the days, equating to 95%.\nloan facility of $218M",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Executives / Parliament / public",
      "source": "annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total funding allocation.\ntimelines\nDeliver services Operate within Achieved Year-end $0.7M surplus result within\nefficiently within approved operating the year-end budget deficit of $1.2M.\napproved funding budget\nLoan processing 85% of eligible loans Achieved 198 of 209 eligible loans were\ntimeframe decisioned in 30 RIC- decisioned within 30 RIC-handling\nhandling days for the days, equating to 95%.\nloan facility of $218M",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Executives / Parliament / public",
      "source": "annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.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"
      ]
    },
    {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Executives / assurance teams",
      "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Executives / assurance teams",
      "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timeframe\ndays for the loan facility of 94% 95%\n$318.5M\nThat the RIC loan has given\ngreater confidence in the Achieved\nCustomer confidence level Achieved\nfuture and profitability of 86% confidence in the future\nabove 80% 89%\ncustomer farm / small 81% confidence in profitability\nbusiness\nIn FY2023, we insourced all loan and customer management services and systems from a third-party provider.",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Citizens / service users",
      "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.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",
        "Digital exclusion",
        "Low public trust if feedback is not acted on"
      ]
    },
    {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timeframe\ndays for the loan facility of 94% 95%\n$318.5M\nThat the RIC loan has given\ngreater confidence in the Achieved\nCustomer confidence level Achieved\nfuture and profitability of 86% confidence in the future\nabove 80% 89%\ncustomer farm / small 81% confidence in profitability\nbusiness\nIn FY2023, we insourced all loan and customer management services and systems from a third-party provider.",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Citizens / service users",
      "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.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",
        "Digital exclusion",
        "Low public trust if feedback is not acted on"
      ]
    },
    {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Delivery teams / suppliers",
      "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Delivery teams / suppliers",
      "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.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"
      ]
    },
    {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[pages 4,5,6]\n[Page 4]\nContents\nTransmittal 1\nIntroduction 2\nOverview 3\nAbout us 3\nOur customers 3\nOur people 8\nPart 1: Annual performance statements 10\nAccountable Authority statement 10\nPerformance results and analysis 11\nPart 2: Management and accountability 14\nGovernance 14\nApproach to risk, fraud and corruption 14\nCompliance with finance laws 15\nHealth, safety and wellbeing 15\nExternal scrutiny 15\nDirectors and Officers indemnities and insurance 16\nLegislative and policy events 16\nAdvertising and market research 16\nPart 3: Financial information 17\nIndependent auditor’s report 17\nStatement of Accountable Authority from the Chair, CEO and CFO 19\nFinancial statements 20\nPart 4: Appendices 36\nAppendix 1: Climate Statement 36\nAppendix 2: Accountable Authority 42\nAppendix 3: Audit and Risk Committee 44\nAppendix 4: Management of human resources 45\nAppendix 5: Executive remuneration 46",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Regulated entities / policy teams",
      "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-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": "[pages 4,5,6]\n[Page 4]\nContents\nTransmittal 1\nIntroduction 2\nOverview 3\nAbout us 3\nOur customers 3\nOur people 8\nPart 1: Annual performance statements 10\nAccountable Authority statement 10\nPerformance results and analysis 11\nPart 2: Management and accountability 14\nGovernance 14\nApproach to risk, fraud and corruption 14\nCompliance with finance laws 15\nHealth, safety and wellbeing 15\nExternal scrutiny 15\nDirectors and Officers indemnities and insurance 16\nLegislative and policy events 16\nAdvertising and market research 16\nPart 3: Financial information 17\nIndependent auditor’s report 17\nStatement of Accountable Authority from the Chair, CEO and CFO 19\nFinancial statements 20\nPart 4: Appendices 36\nAppendix 1: Climate Statement 36\nAppendix 2: Accountable Authority 42\nAppendix 3: Audit and Risk Committee 44\nAppendix 4: Management of human resources 45\nAppendix 5: Executive remuneration 46",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Regulated entities / policy teams",
      "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-Corporation",
      "category": "Case Processing",
      "scale": "small",
      "title": "Triage queue for stuck or ageing cases",
      "idea": "Use existing case data to flag ageing, duplicate, incomplete, or high-risk cases for earlier intervention.",
      "quote": "Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within within 65 RIC-handling\n65 RIC-handling days.\ndays (*excludes\nPlantation Loans)\nCredit risk is Implement the Partially achieved Review of the RIC’s loan\nmanaged within financial risk portfolio risk management\nacceptable management completed.",
      "impact": "High",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Applicants / case officers",
      "source": "annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.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": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-Corporation",
      "category": "Case Processing",
      "scale": "large",
      "title": "End-to-end case processing redesign",
      "idea": "Redesign the case pathway around risk-based triage, reusable evidence, and automated eligibility checks.",
      "quote": "Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within within 65 RIC-handling\n65 RIC-handling days.\ndays (*excludes\nPlantation Loans)\nCredit risk is Implement the Partially achieved Review of the RIC’s loan\nmanaged within financial risk portfolio risk management\nacceptable management completed.",
      "impact": "Very High",
      "effort": "High",
      "proof": "Evidence-backed",
      "beneficiaries": "Applicants / case officers",
      "source": "annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.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"
      ]
    }
  ],
  "legislation_administered": [],
  "artifacts": [
    {
      "category": "annual-reports",
      "year": "2024-25",
      "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
      "file": "annual-reports/2024-25.pdf",
      "bytes": 7528156,
      "link_text": "Annual Report 2024/25"
    },
    {
      "category": "annual-reports",
      "year": "2023-24",
      "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf",
      "file": "annual-reports/2023-24.pdf",
      "bytes": 5201746,
      "link_text": "Annual Report 2023/24"
    },
    {
      "category": "annual-reports",
      "year": "2022-23",
      "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf",
      "file": "annual-reports/2022-23.pdf",
      "bytes": 6065277,
      "link_text": "Annual Report 2022/23"
    },
    {
      "category": "annual-reports",
      "year": "2021-22",
      "url": "https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf",
      "file": "annual-reports/2021-22.pdf",
      "bytes": 1782396,
      "link_text": "Annual Report 2021/22"
    },
    {
      "category": "annual-reports",
      "year": "2020-21",
      "url": "https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf",
      "file": "annual-reports/2020-21.pdf",
      "bytes": 5022133,
      "link_text": "Annual Report 2020/21"
    },
    {
      "category": "corporate-plans",
      "year": "2025-26",
      "url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
      "file": "corporate-plans/2025-26.pdf",
      "bytes": 1310241,
      "link_text": "Corporate Plan 2025/26"
    },
    {
      "category": "corporate-plans",
      "year": "2024-25",
      "url": "https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf",
      "file": "corporate-plans/2024-25.pdf",
      "bytes": 1653508,
      "link_text": "Corporate Plan 2024/25"
    },
    {
      "category": "corporate-plans",
      "year": "2023-24",
      "url": "https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf",
      "file": "corporate-plans/2023-24.pdf",
      "bytes": 1558272,
      "link_text": "Corporate Plan 2023/24"
    },
    {
      "category": "corporate-plans",
      "year": "2022-23",
      "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf",
      "file": "corporate-plans/2022-23.pdf",
      "bytes": 1428859,
      "link_text": "Corporate Plan 2022/23"
    },
    {
      "category": "corporate-plans",
      "year": "2021-22",
      "url": "https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf",
      "file": "corporate-plans/2021-22.pdf",
      "bytes": 6169272,
      "link_text": "Corporate Plan 2021/22"
    },
    {
      "category": "other-pdfs",
      "year": "2024",
      "url": "https://www.ric.gov.au/sites/default/files/documents/20241118_RIC_Board_Charter_Nov_2024.pdf",
      "file": "other-pdfs/20241118_RIC_Board_Charter_Nov_2024.pdf",
      "bytes": 249004,
      "link_text": "Read the board charter here."
    },
    {
      "category": "other-pdfs",
      "year": "2024",
      "url": "https://www.ric.gov.au/sites/default/files/documents/20240305_RIC-Organisational-Chart.pdf",
      "file": "other-pdfs/20240305_RIC-Organisational-Chart.pdf",
      "bytes": 18661,
      "link_text": "RIC Organisational Chart"
    }
  ],
  "_meta": {
    "snapshot_built_at": "2026-05-13T11:03:02+00:00",
    "strategy_brief_meta": {
      "model": "nova-micro",
      "folder": "Regional-Investment-Corporation",
      "annual_report": {
        "file": "annual-reports\\2024-25.txt",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf",
        "year": "2024-25"
      },
      "corporate_plan": {
        "file": "corporate-plans\\2025-26.txt",
        "url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf",
        "year": "2025-26"
      },
      "usage": {
        "input_tokens": 22676,
        "output_tokens": 534,
        "total_tokens": 23210,
        "model": "nova-micro"
      },
      "cost_usd": 0.0008684200000000002,
      "elapsed_seconds": 24.49,
      "generated_at": "2026-05-13T04:10:48+00:00"
    },
    "ideas_manifest": {
      "entity_id": "O-004841",
      "entity_name": "Regional Investment Corporation",
      "folder_name": "Regional-Investment-Corporation",
      "generated_at": "2026-05-09T23:05:18.010331+00:00",
      "idea_count": 12,
      "markdown": "ideas/Regional-Investment-Corporation_ideas.md",
      "jsonl": "ideas/ideas.jsonl",
      "inputs": [
        "Regional-Investment-Corporation_strategy-overview.md",
        "strategy-evidence.json",
        "global-intelligence/source-manifest.json"
      ]
    },
    "global_intel_meta": null
  }
}