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Response to Discussion PaperEnhanced Commonwealth Performance FrameworkFeedback formFinance is seeking consolidated feedback from each entity on topics covered in the discussion paper. The key topic areas are identified in the table below, together with related discussion questions. These questions have been included to stimulate broad consideration of options to enhance the performance framework. It is not necessary to answer all of the discussion questions, or to provide feedback on every topic.Name of entity:Australian Reinsurance Pool CorporationContact name:Alison KellyContact position:General Manager, Governance, Risk and Compliance Telephone:02 6279 2105Email:alison.kelly@arpc.gov.auAustralian Reinsurance Pool Corporation -Opening StatementThank you for the opportunity toprovide comment on the Enhance Commonwealth Performance Frameworkdiscussion paper.The Australian Reinsurance Pool Corporation (ARPC) is a statutory authority established under the Terrorism Insurance Act 2003(TI Act), being subject also to requirementsunder the Public Governance, Performance and Accountability Act 2013(PGPA Act). ARPC is a corporate Commonwealth entity under the PGPA Act; it is governed by a Board, which is ARPC’s accountable authority.ARPC established and continues to provide ongoing administration of a terrorism insurance scheme, which will provide insurance cover for eligible terrorism losses and pay eligible claims, should a declared terrorist incident (DTI) occur in Australia.ARPC is wholly self-funding through prudent management of accumulated premium and investment revenue. We have never receivedany Commonwealth appropriation. Our annual operational budget must be approved by the Board; monthly financial reporting against the approved Budgetis provided to the Board.We currently do not report throughthe CentralBudgetary Management System (CBMS).Due to the fact that we have never received Commonwealth appropriation, ARPC has never been required to produce a Parliamentary Budget Statement (PBS), nor has it been required to appear before Senate Estimates.ARPC has a single,legislated function,which is to provide terrorism insurance for eligible policies in the event of a DTI. Therefore we do not have programs or outcomes against which we report. We provide an Annual Report to our responsible Minister, as was required by the Commonwealth Authorities and Companies Act 1997(CAC Act),and will continue to do sounder the PGPA Act.
2ARPC is in agreement with the principles of the PGPA Act in providing a performance frameworkfor all Commonwealth entities. To this end, over the past twelve months the ARPC Board and Executive Management have been working together to prepare our first Corporate Plan, and are awaiting the finalisation of requirements for both the Corporate Plan and the Annual Performance Statements. ARPC’s preference would be for the Corporate Plan to be provided by 31 August each year.Despite being in favour of more consistent performance reporting, ARPC is strongly of the view that we do not need to provide aPBS. In particular, as ARPC does not receive appropriation, and doesnot have programs or outcomes on which we report, ARPC believes the Parliament would gain little or no value from a PBS, should we have the systems to produce it.Providing a PBS each yearwould be considered additional red tape and an unnecessary administrative burden for an organisation of our size.ARPC has provided specific comments against subjects within the template provided, as appropriate to our current operations.Topic and key questionsFeedbackPortfolio Budget Statements-Should all corporate and non-corporate Commonwealth entities be required to complete Portfolio Budget Statements?-Should Commonwealth entities that don’t prepare Portfolio Budget Statements place performance information in their corporate plans instead?-Should the Portfolio Budget Statements contain only non-financial performance information, with all financial information published in the core budget documents (Budget Papers1 to4)?-Are the Portfolio Budget Statements the best location for detailed entity performance information?-Would entities and the Parliament be better served if all performance information was removed from the Portfolio Budget Statements and instead published as a core elementof entities’ corporate plans?-If so, should corporate plans be published in conjunction with the Portfolio Budget Statements on budget night to expand the range of information available to Parliament as it considers the annual Appropriation Bills?-Could non-financial performance information be provided electronically on budget night and published in the corporate plan?NoYes , as appropriate to their operationsDo not provide a PBS-no comment.Do not provide a PBS-no comment.Do not provide a PBS-no comment.Do not provide a PBS, but ARPC would prefer the Corporate Plan is due 31Augusteach year.ARPC would prefer all Corporate Plan information is provided at the time of publishing -31 August each year.