PERFORMANCE INFORMATION FOR OUTCOME 2

Output 2.2.1—Property Management

• portfolio condition to be maintained to industry standards as determined by independent audit;

Independent audit to be completed during 2001 calendar year. Results of this audit will be reported in the 2001–02 Annual Report.

• development of properties to meet customer needs, including Australian representational requirements overseas, within specified time and budget;

Achieved—Two major projects, the refurbishment of 4 Treasury Place and the construction of a new Chancery in Brasilia, were completed during 2000–01. Other projects completed include the facade and roof rectification works at Beijing and Wellington. Refurbishment of the Berlin Chancery commenced and the Treasury Building refurbishment is continuing. The projects were completed in accordance with the approved budgets and timeframes. Post-occupancy tenant satisfaction surveys will be undertaken at the 4 Treasury Place and Brasilia facilities during 2001–02.

• tenant satisfaction will be measured by tenant survey.

Achieved—A survey of tenants has found that improvements have been made in areas of responsiveness to tenant needs and complaint resolution. Day-to-day property management functions continue to be performed to a satisfactory level, but tenants have suggested there is a need for enhanced communication. Finance will address these findings.

Surpassed—RONA of 6.57 per cent was achieved.

Surpassed—A total of $142 million was paid as dividends.

Not met—Due to delays in selling a few properties equity of $198 million was returned.

Not met—As at 30 June 2001 $66.2 million has been spent on capital works in 2000–01 due to rescheduling of expenditure within the overall approved budgets and timeframes.