Disclosure of consultancy expenditure

Pursuant to section 8 of the Financial Management Act 1994, and Regulation 16 of the Financial Management Act 2004, the Minister for Finance has the authority to issue Directions in relation to financial administration issues. Financial Reporting Directions (FRDs) are a form of these Directions, which deal specifically with financial reporting issues for Victorian public sector entities.

FRD 22H Standard Disclosures in the Report of Operations requires that for each consultancy valued at $10,000 or greater (exclusive of GST), TCV is required to publish on its website a schedule listing the following:

  • consultants engaged
  • brief summary of the project involved
  • total project fees approved (exclusive of GST)
  • expenditure for the reporting period (exclusive of GST), and
  • any future expenditure committed to the consultant for the project.

A consultant is defined by FRD 22H as 'a particular type of contractor that is engaged primarily to perform a discrete task for an entity that facilitates decision making through:

  • provision of expert analysis and advice, and/or
  • development of a written report or other intellectual output.'

For the 2017-18 financial year, two consultants were appointed for a consultancy fee of $10,000 or greater (exclusive of GST). The details of the consultancies are:

Consultant Purpose of consultancy Start date End date Total approved project fee (excl. GST) Expenditure 2017-18 (excl. GST) Future committed expenditure (excl. GST)
Infact Consulting Provision of advice and assistance regarding the market approach for a software application. December 2017 March 2018 $19,853 $19,853 Nil
Deloitte Consulting Provision of advice and assistance in respect of the evaluation tools and techniques to implement real time cloud databases. March 2018 May 2018 $85,000 $85,000 Nil