Progress of Action 5.8

Action 5.8: Develop a long-term funding plan for CFA and FRV.

Action objective: CFA and FRV have long-term funding plans that are evidence-based and outline actions to promote financial sustainability.

Lead agency: DJCS with CFA and FRV

Year Two to Five Plan (November 2021) completion dateYear Two to Five Plan (updated May 2023) completion dateAgency reported status as at 30 June 2023
December 2023June 2025Not commenced

Context

This action requires DJCS, working with CFA and FRV, to develop long-term funding plans for CFA and FRV that are evidence-based and outline actions to promote financial sustainability.

Progress summary

In FY 2022-23, DJCS submitted a change request to the Minister to extend the due date for this action, attributing the delays primarily to the impact of extended timelines for conducting a second financial sustainability assessment (action 5.7) and the completion of interdependent Year Two to Five Plan actions (actions 1.7, 5.1, 5.2 and 5.4). The Year Two to Five Plan reflects the new completion date of June 2025, noting the original completion date was December 2023.

The initial funding plans for CFA and FRV (action 5.6) required CFA and FRV to enhance asset management, financial forecasting, and activity-based costing. This work is in progress but will impact the delivery of the second financial sustainability assessment (action 5.7), which is a necessary input to completing the long-term funding plans for CFA and FRV.

Findings

Action 5.8 has not yet commenced.

Updated