Management of the Provincial Victoria Growth Fund

Tabled: 12 December 2012

Regional Development Victoria (RDV) undertook a wide range of planning activities to develop and plan for implementing the Provincial Victoria Growth fund (PVGF). However, some deficiencies meant that RDV could not demonstrate that the fund was soundly based. While there were criteria for prioritising initiatives to be funded, assessment decisions were not adequately documented and criteria were not applied consistently to all funding decisions. Also, there was no business case underpinning it.

The monitoring and reporting systems and processes for initiatives and programs under PVGF were generally sound. However, these focused on outputs rather than outcomes. RDV had effective arrangements in place to manage grant programs and to disburse funding to grant recipients. Deficiencies in planning and undertaking evaluations, particularly the lack of a final evaluation of PVGF, mean RDV is unable to demonstrate that the fund achieved its objectives and outcomes. There were weaknesses in RDV’s risk management, and its documentation and recording of all PVGF programs and activities was not complete.

However, RDV has improved its planning and management of the Regional Growth Fund and addressed some of the deficiencies of the PVGF, particularly with regard to evaluation planning and meaningful reporting on the achievement of outcomes.







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Last updated on 7/23/2013