Annual Report
Annual Report 2007-2008 In 2008, Queensland Treasury Autonomous and accountable Corporation (QTC) celebrates its Created to provide a range of independent financial services to the Government and its twentieth year of operations. public sector entities, QTC was established on With its inaugural Chairman, Sir Leo Hielscher AC, 1 July 1988. It brought together the financial and Chief Executive, Stephen Rochester, at the operations of its predecessor, the Queensland helm, QTC has navigated Queensland through Government Development Authority, the the challenges of the financial markets, and Investment Branch of the Queensland maintained its course providing low cost Treasury department, and the debt of the funding and independent financial and risk Brisbane City Council and the Queensland management advice to ten State Treasurers and Electricity Commission. their respective governments. QTC was formed as a separate entity QTC determines its own worth by the value it (a ‘corporation sole’), reporting to the Treasurer has created for its customers and for the State. and Queensland Parliament via the Under Over the past twenty years, QTC has maintained Treasurer, with responsibility for implementing its AAA credit rating and generated more than the Government’s fiscal policy through the $1.7 billion in savings for customers in the raising services it provides. of their capital requirements alone. While total In 1991, QTC became an autonomous and savings are not completely quantifiable, they accountable central financing authority, when are estimated to be much greater. Today, QTC responsibility for the State’s wholesale and employs 160 people and has more than $43 billion medium- to long-term investments was transferred of debt on issue.
[Show full text]