Infrastructure and Project Financing Agency
Section 2: Outcomes and planned performance
Australian Government outcomes are the intended results, impacts or consequences of actions by the Australian Government on the Australian community. Commonwealth programs are the primary vehicle by which government entities achieve the intended results of their outcome statements. Entities are required to identify the programs which contribute to government outcomes over the Budget and forward years.
Each outcome is described below together with its related programs. The following provides detailed information on expenses for each outcome and program, further broken down by funding source.
Performance reporting requirements in the PB Statements are part of the enhanced Commonwealth performance framework established by the PGPA Act. It is anticipated that the performance criteria described in PB Statements will be read with broader information provided in an entity's corporate plans and annual performance statements—included in Annual Reports—to provide an entity's complete performance story.
The corporate plan for IPFA can be found at:
2.1 Budgeted expenses and performance for Outcome 1
Outcome 1: To leverage additional private sector investment in infrastructure and secure better returns from the Commonwealth's investment by assisting the Government to identify, assess, and broker financing opportunities for infrastructure and projects, including through engagement with Commonwealth entities, State and Territory governments, and the private sector.
Budgeted expenses for Outcome 1
This table below shows how much IPFA intends to spend (on an accrual basis) on achieving the outcome, broken down by program, as well as by departmental funding sources.
Table 2.2: Performance criteria for Outcome 1
Table 2.2.1 below details the performance criteria for each program associated with Outcome 1. It also summarises how each program is delivered and where 2018–19 Budget measures have created new programs or materially changed existing programs.
|Outcome 1—To leverage additional private sector investment in infrastructure and secure better returns from the Commonwealth's investment by assisting the Government to identify, assess, and broker financing opportunities for infrastructure and projects, including through engagement with Commonwealth entities, State and Territory governments, and the private sector.|
|Program 1.1—To leverage additional private sector investment in infrastructure and secure better returns from the Commonwealth's investment by assisting the Government to identify, assess, and broker financing opportunities for infrastructure and projects, including through engagement with Commonwealth entities, State and Territory governments, and the private sector.|
|Delivery||During 2018–19 and the forward years IPFA's work program will be delivered consistent with IPFA success measures and targets as described in IPFA's 2017–18 to 2020–21 Corporate Plan, which are discussed below.|
|Current performance information|
|Year||Performance criteria||Targets||Estimated achievement|
|2017–18||Development of capability and procedures to perform the key functions of IPFA, particularly the provision of quality advice to the Government on the assessment and brokering of private financing opportunities for significant infrastructure projects||Recruitment of suitably skilled staff and contractors, including a Chief Executive Officer||Completed. The permanent Chief Executive Officer commenced on 11 December 2017. Staff have been engaged and recruitment strategy in place|
|Development of capabilities and frameworks with which to perform the assessment, advice and brokering of private financing opportunities for significant infrastructure projects||Completed. The IPFA corporate plan, which was released on 23 February, contains information on IPFA's performance measurements|
|Establishment of required governance and organisational arrangements, including relevant policies and procedures||Completed. Governance frameworks and policies and procedures in place|
|Commencement of engagement with key stakeholders, including Commonwealth agencies, states and territories and the private sector||Completed. The CEO undertook a comprehensive program of high level consultation between December 2017 and February 2018|
|Provision of high quality and timely advice to Government agencies, the Prime Minister and the Cabinet on preferred financing approaches and priority projects for engagement||Completed. IPFA has become an active adviser to a number of high-priority projects across Government|
|Analysis, development and/or review of tailored financing (and alternative funding) options for specific infrastructure projects||Completed. IPFA has provided commercial and financial advice to government on a number of matters|
|Provision of first stand-alone report on innovative financing opportunities for transformative economic infrastructure to the Cabinet||Completed. Report delivered in October 2017 with further updates to be provided via quarterly Cabinet memoranda|
|Forward looking performance information|
|2018–19 and beyond||Our partners seek our commercial and financial advice:
The value of IPFA and our advice will be evident when we are viewed as the trusted adviser and first point of call, rather than a mandated partner, and we are approached to be involved in the decision-making processes for nationally significant infrastructure projects from day one
|Our advice is proactively sought by government and agencies:
|Our involvement improves outcomes for and our advice is valued by all stakeholders:
A successful engagement on a project will be evident if it can be seen that our advice was adopted and/or it is acknowledged that we played a significant role in supporting decision-making on delivery of the project
|Stakeholders are satisfied with our advice and involvement:
Our contribution increases confidence in the Australian Government's infrastructure investment decisions and processes:
|Delivery of agreed activities and positive stakeholder/market regard for our contribution:
|Our work strengthens the commercial and financial capability of the Australian Government
We are partnering with agencies across government to raise the level of in-house commercial and financial expertise and capability of infrastructure investments arrangements
A more commercially expert public service can better support the Australian Government in its infrastructure investment decisions, reduce dependency on external advisors and improve the retention of critical commercial knowledge
|Facilitation of quality knowledge sharing and development programs, events and forums:
|Material changes to Program 1.1 resulting from the following measures:
- Refers to purposes that are reflected in IPFA's 2017–18 to 2020–21 Corporate Plan