Our finances
On this page:
Our annual audited financial statements are included in our Annual Reports. A six-month snapshot of financial and non-financial results for the half year ended 31 December is presented in the Interim Report. Requests for information on the financial statements should be sent in writing to:
Chief Financial Officer
Powerlink Queensland
PO Box 1193 Virginia
Queensland Australia 4014
We comply with the State Procurement Policy (SPP) which is a policy of the Queensland Government which applies to Queensland Government Agencies including Powerlink.
The main objectives of the SPP are to:
- advance the priorities of the Queensland Government;
- achieve value for money; and
- ensure probity and accountability for outcomes.
The SPP requires Powerlink to establish and maintain procurement procedures which outline its procurement systems and practices consistent with the SPP.
The policy and processes contained in our Procurement Manual flow from four guiding principles:
- Planning—procurement requirements are planned in accordance with equipment strategies and sourcing strategies, or follow the procurement processes.
- Effective competition—sourcing strategies and procurement processes ensure that Powerlink Queensland benefit from effective competition in the sourcing and evaluation processes.
- Competent suppliers— materials and services are obtained from suppliers most able to meet Powerlink Queensland's long-term objectives.
- Ethical behaviour— all procurement is carried out in accordance with good professional practice and observing ethical behaviour.
The Board’s Audit, Risk and Compliance Committee assesses and reports on issues relating to audit effectiveness. The Committee endorses the corporation’s internal audit program and provides a link between the corporation’s auditors (internal and external) and the Board. Committee meeting details are presented in the Annual Report’s Directors’ Report.
The Queensland Government has issued a Code of Practice for Government Corporations’ Financial Arrangements. The Code:
- applies to all GOCs declared under the Government Owned Corporations Act and is to be applied to all their subsidiaries and/or associated companies, and
- defines the government expectations with respect to financial management and includes a requirement for the development of a full set of financial policies for each corporation.
Powerlink Queensland has developed policies in compliance with the Code.
We have also developed a Corporate Hospitality and Entertainment Policy in accordance with the State Government’s Corporate Entertainment & Hospitality Guidelines.
Further information is available regarding Powerlink Queensland’s delegations of authority.