Qld govt told to publish fund finances

Marty SilkAAP
Treasurer Cameron Dick has been accused of hiding the the future funds' performance from taxpayers.
Camera IconTreasurer Cameron Dick has been accused of hiding the the future funds' performance from taxpayers. Credit: AAP

The Queensland government is again being urged to publicly report on the overall performance of its future funds by the state's auditor-general.

The government previously knocked back Auditor-General Brendan Worrall's recommendation that it publish combined financial statements on the impact of funds, including the $7.7 billion Debt Retirement Fund, created under the overall Queensland Future Fund structure in 2020.

The auditor-general's has pressed the government to reconsider mandating financial statements "based on the transactions" within the QFF funds in 2020/21.

"Further information would provide information on the activities of the Queensland Future Fund and its investments for the public and assist in the measure of a 'transparent and open government'," Mr Worrall says in the report, which was tabled in parliament on Monday.

He says while each fund has reported individual impacts, the overall impact of the funds across the Queensland government is difficult to gauge.

Under-treasurer Leon Allen rejected the recommendation earlier this year, saying the Queensland Future Fund wasn't an entity in itself and didn't warrant a separate financial statement.

"Extensive reporting is provided in Treasury's Annual Report consistent with the nature of this investment," he wrote in a letter to the auditor-general.

"The QFF has been audited by yourself as part of Treasury's financial statements with information provided."

Shadow treasurer David Janetzki accused Treasurer Cameron Dick of hiding the performance of the future funds from taxpayers.

He said a parliamentary budget office was urgently needed to independently assess government budget decisions.

"The reality is, this means that your kids' local cricket club does more auditing than an $8 billion government-controlled fund," Mr Janetzki said in a statement on Tuesday.

"The LNP has already committed to greater transparency in the budget process through the creation of a Parliamentary Budget Office and a reformed estimates process.

"This third-term Labor government is giving up on integrity, accountability and honesty."

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