The 2000-01 financial year has been one of challenge, progress and achievement for the Department of Finance and Administration (Finance).

During the past year Finance was involved in a wide range of projects that allowed the Department to further develop and enhance capability across a range of diverse activities.

In 2000–01 Finance advised on and coordinated the third accrual Budget. There has been a continuous improvement in the accrual Budget process since its introduction. CPA Australia acknowledged Finance with a national award for its work in planning and overseeing the introduction of a Commonwealth-wide financial management system for budgeting, managing and reporting on an accrual basis.

Finance worked with its public sector colleagues to contribute to key policy papers such as the Defence White Paper and the Innovation Statement. To further support the development of a risk management culture across the Commonwealth, Comcover launched an Internet-based national Risk Management Benchmarking Programme, which enables comparison of risk management performance with that of other public and private sector organisations. As announced in the 2001–02 Budget, Finance has established a unit to assist other Commonwealth agencies with private financing proposals. This will further enhance Finance's ability to work with our colleagues in this important area.

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Finance's expertise in government procurement was recognised by being nominated to Chair APEC's Government Procurement Experts Group, which contributes to the APEC agenda of trade facilitation and liberalisation. Finance also assisted the Royal Thai Government on projects related to procurement and remuneration and redundancy reform.

COMCAR's involvement in the Sydney 2000 Olympic Games and Centenary of Federation celebrations in Melbourne received strong positive feedback.

The Department's performance financially was strong in 2000–01 as recognised by a $188 million operating surplus and $390 million returned to the Government.

Finance has built an innovative model for our operations based on strategic partnerships and alliances. In August 2000, Finance took another major step in this area by entering into a strategic alliance with PricewaterhouseCoopers Process Solutions Pty Ltd for the management of the Commonwealth's $2.5 billion non-Defence overseas and domestic property portfolio. This alliance has attracted considerable international interest.

Since May 1999 Finance staff have been providing technical assistance to the East Timor Central Fiscal Authority. Through providing advice in relation to East Timor's budget capability, Finance has, in its own small way, assisted in the building of this new nation and gained experience that has enriched the Department.

Finance also continued to manage the project to define the limits of the extended continental shelf off the Australian Antarctic Territory. During the year 30 per cent more seismic data was collected than anticipated, placing the project in a strong position for the next survey season.

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Finance continued to pursue our goal of building a learning organisation, in which development and training opportunities are available and undertaken at all levels.

In 2000–01 Finance launched a Future Leaders Programme. It invests in our future leaders and directly involves Finance's senior management team through mentoring the programme's participants. The Department also introduced the Finance Scholarship scheme which supports high performing staff undertaking postgraduate study in Australia or overseas.

A positive work and home life balance for all staff is integral to our employment practices. The Department was proud to be short-listed for the Australian Chamber of Commerce and Industry Corporate Work and Family Awards 2000, in recognition of our work and home life balance initiatives in our employment practices.