Section 3: Outcomes
General government sector (GGS) agencies are required to plan, budget and report under an outcomes structure. GGS agencies produce outputs (departmental items) and also administer items on behalf of the Government (administered items).
This section summarises how the resources identified in Section 2 will be used to contribute to the outcome for the Australian Securities and Investments Commission (ASIC). Key performance measures and performance evaluation activities are specified for the outcome.
3.1 Summary of outcomes and contribution to outcomes
The relationship between activities of ASIC and its outcome is summarised in Figure 2.
Figure 2: Contributions to outcomes
Each programme of activity (cost centre) in ASIC is linked to one of the four outputs. Accordingly, expenses against these programmes accrue against the outputs as they occur.
Where an expense relates to more than one output, it is allocated using a predetermined formula. For example, property lease expenses are allocated using staff numbers attributed to each programme.
3.2 Outcome resources and performance information
3.2.1 Outcome 1 resourcing
Table 3.1 shows how the 2007-08 Budget appropriations translate to total resourcing for Outcome 1, including administered appropriation, departmental appropriation and revenue from other sources.
Table 3.1: Total resources for Outcome 1
- Output 1.1.4 includes $11.7 million of 2005-06 unspent appropriation for specific purpose enforcement tasks recognised in 2006-07.
ASIC has one outcome with a total departmental appropriation of $291.6 million and a total administered appropriation of $5.2 million.
3.2.2 Measures affecting Outcome 1
The Budget measures for ASIC appear in Table 2.2. Details of these measures are included in Budget Paper No. 2, Budget Measures 2007-08.
3.2.3 Contributions to achievement of Outcome 1
ASIC has developed a framework to ensure that delivery of specified outputs meets or exceeds anticipated requirements. These outputs reflect the programmes and activities ASIC undertakes as a regulatory authority to meet the objective of its outcome.
Through ASIC, the Government seeks to ensure that consumers and investors receive honest and competent financial advice that is untainted by conflicts of interest, and that information about corporations is current and accurate. ASIC also has an enforcement and regulatory role designed to deal with misconduct in order to promote a confident and informed market.
3.2.4 Performance information for Outcome 1
Table 3.2 summarises the performance information for administered items, individual outputs and output groups relating to ASIC.
Table 3.2: Performance information for Outcome 1
Table 3.2: Performance information for Outcome 1 (continued)
Table 3.2: Performance information for Outcome 1 (continued)
Evaluations for Outcome 1
ASIC regularly seeks feedback from consumers, investors and other stakeholders on the effectiveness of policy advice and administration of the law.
The results of ASIC’s performance will be presented in its 2007-08 Annual Report.