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Western Australian Treasury Corporation 2012 Annual Report - Page 32Western Australian Treasury Corporation 2012 Annual Report - Page 33
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CONTINUED CORPORATE GOVERNANCE LEGISLATION LEGISLATION IMPACTING ON WATC'S ACTIVITIES CHANGES IN WRITTEN LAW THERE WERE NO CHANGES TO THE WESTERN AUSTRALIAN TREASURY CORPORATION ACT 1986 DURING THE FINANCIAL YEAR. MINISTERIAL DIRECTIVES NO MINISTERIAL DIRECTIVES WERE RECEIVED DURING THE FINANCIAL YEAR. FINANCIAL SOLUTIONS FOR THE BENEFIT OF ALL WESTERN AUSTRALIANS. LEGISLATION ADMINISTERED WESTERN AUSTRALIAN TREASURY CORPORATION ACT 1986 STATE LEGISLATION IMPACTING ON ACTIVITIES • AUDITOR GENERAL ACT 2006 • CORRUPTION AND CRIME COMMISSION ACT 2003 • DISABILITY SERVICES ACT 1993 • ELECTORAL ACT 1907 • ELECTRONIC TRANSACTIONS ACT 2003 • EQUAL OPPORTUNITY ACT 1984 • FAIR TRADING ACT 1987 • FINANCIAL MANAGEMENT ACT 2006 • FREEDOM OF INFORMATION ACT 1992 • OCCUPATIONAL SAFETY AND HEALTH ACT 1984 • PAY-ROLL TAX ASSESSMENT ACT 2002 • PUBLIC AND BANK HOLIDAYS ACT 1972 • PUBLIC INTEREST DISCLOSURE ACT 2003 • PUBLIC SECTOR MANAGEMENT ACT 1994 • STAMP ACT 1921 • STATE RECORDS ACT 2000 • STATE SUPERANNUATION ACT 2000 • STATE SUPPLY COMMISSION ACT 1991 • STATUTORY CORPORATIONS (LIABILITY OF DIRECTORS) ACT 1996 • WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 1981 COMMONWEALTH LEGISLATION IMPACTING ON ACTIVITIES • A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 • ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING ACT 2006 • CENSUS AND STATISTICS ACT 1905 • COPYRIGHT ACT 1968 • FAIR WORK ACT 2009 • FRINGE BENEFITS TAX ACT 1986 • INCOME TAX ASSESSMENT ACT 1936 • SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992 • TAXATION ADMINISTRATION ACT 1953 30 WESTERN AUSTRALIAN TREASURY CORPORATION THE BASIN, ROTTNEST ISLAND
CORPORATE SERVICES INFORMATION AND COMMUNICATIONS TECHNOLOGY THE INFORMATION AND COMMUNICATIONS TECHNOLOGY BRANCH FOCUSED ON PROVIDING BUSINESS FUNCTIONALITY WITH A RELIABLE AND RESPONSIVE INFRASTRUCTURE AND EXTENDING BUSINESS CONTINUITY FACILITIES. DURING 2011/12, THE SUMMIT TREASURY MANAGEMENT SYSTEM WAS SUCCESSFULLY UPGRADED TO VERSION 5.5.1 TO MAINTAIN CURRENCY AND PROVIDE INCREASED FUNCTIONALITY, FLEXIBILITY AND PERFORMANCE. THIS UPGRADE INVOLVED MOST BUSINESS AREAS IN TESTING AND QUALITY ASSURANCE PRIOR TO IMPLEMENTING THE FINAL PRODUCT. THE UPGRADE ALSO ALLOWED THE UNDERLYING DATABASE SOFTWARE TO BE UPGRADED. THIS WAS SIGNIFICANT FOR FUTURE IMPROVEMENTS TO REPORTING. ANOTHER KEY ACHIEVEMENT FOR THE YEAR WAS THE REVAMPING OF WATC'S WEBSITE AND THE INTRODUCTION OF A CONTENT MANAGEMENT SYSTEM (CMS) TO IMPROVE THE MANAGEMENT OF INFORMATION PRESENTED ON THE WEB. THE CMS WAS ONE OF THE MEASURES UNDERTAKEN TO IMPROVE THE MANAGEMENT OF CORPORATE INFORMATION WITHIN WATC. OTHERS INCLUDED A REVIEW OF THE MANNER IN WHICH INFORMATION IS CLASSIFIED AND A HEALTH CHECK OF INFORMATION MANAGEMENT SOFTWARE. THE SUMMIT UPGRADE HAS ALLOWED FOR A NUMBER OF MICROSOFT SOFTWARE AND OTHER SOFTWARE PACKAGES, SUCH AS THE TRIM RECORDS MANAGEMENT SYSTEM, TO BE UPGRADED IN THE COMING YEAR. SUBSEQUENT UPGRADES WILL INCLUDE WINDOWS 7, OFFICE 2010 AND SHAREPOINT 2010. DURING THE SECOND QUARTER OF 2012, A PILOT PROJECT TO INTRODUCE MICROSOFT DYNAMICS' CUSTOMER RELATIONSHIP MANAGEMENT (CRM) SYSTEM WAS UNDERTAKEN. THE PILOT WAS EXTENDED TO PROVIDE A SUITE OF CRM FUNCTIONALITY AND IS EXPECTED TO BE INTRODUCED IN THE THIRD QUARTER OF 2012. IT IS EXPECTED THAT THE INTRODUCTION OF THE MORE RESPONSIVE CRM SOFTWARE WILL LEAD TO A BETTER CUSTOMER EXPERIENCE THROUGH THE USE OF REAL-TIME INFORMATION BY CUSTOMER SERVICE STAFF. THE INITIAL IMPLEMENTATION WILL BE FOLLOWED BY A SUBSEQUENT INTEGRATION WITH TRIM SOFTWARE THAT WILL FURTHER ENHANCE INFORMATION MANAGEMENT. TO IMPROVE THE RESPONSIVENESS AND FLEXIBILITY OF ALL REPORTING, WORK COMMENCED ON THE DEFINITION AND CONSTRUCTION OF A REPORTING DATA WAREHOUSE. THIS IS AN IMPORTANT STEP TOWARDS PROVIDING A SINGLE COMPREHENSIVE REPORTING MECHANISM THAT MAY, IN THE FUTURE, PROVIDE INFORMATION TO CLIENTS THROUGH THE WEB INTERFACE. THE REPORTING DATA WAREHOUSE HAS BEEN DEPENDENT ON THE UPGRADE OF TECHNOLOGY THAT WAS AWAITING THE RECENTLY COMPLETED SUMMIT UPGRADE. GROWING DEMANDS FOR STORAGE AND PERFORMANCE MEAN THAT THE UNDERLYING INFORMATION TECHNOLOGY IS CONSTANTLY UNDER REVIEW. NEW FUNCTIONALITY LIKE CRM AND THE REPORTING DATA WAREHOUSE ARE PLACING HIGH DEMANDS ON STORAGE CAPACITY. A MAJOR UPGRADE OF CAPACITY IS EXPECTED IN THE NEXT 18 MONTHS. THE RELIABILITY, RESPONSIVENESS AND INTEGRITY OF THE BUSINESS CONTINUITY FACILITIES REMAIN A PRIORITY. WATC MAINTAINS A REMOTE BUSINESS CONTINUITY FACILITY THAT ALLOWS FOR SAME-DAY RECOVERY AND ACCOMMODATION FOR CRITICAL STAFF. TESTING OF THE FACILITY INDICATES THAT IT CAN RECOVER SYSTEMS TO CARRY OUT ESSENTIAL TASKS WITHIN FOUR HOURS. CRM AND THE REPORTING DATA WAREHOUSE WILL HAVE A LARGE IMPACT ON THE CAPACITY REQUIRED AS BOTH WILL SHORTLY BE PRODUCTION SYSTEMS. CURRENTLY, THE WIDE AREA NETWORK COMMUNICATIONS AND INTERNET CAPABILITIES ARE BEING ENHANCED TO PROVIDE FOR THESE REQUIREMENTS. REGISTRY AND TREASURY OPERATIONS DURING 2011/12, WATC CONTINUED TO ENGAGE LINK MARKET SERVICES LIMITED (LINK) AS THE PROVIDER OF REGISTRY SERVICES TO WATC'S STOCKHOLDERS. ADDRESS DETAILS OF THE BRANCH OFFICES OF LINK APPEAR ON THE LAST PAGE OF THIS REPORT. SYSTEMS AND SERVICES PROVIDED BY THE FOLLOWING SUPPLIERS WERE USED TO CONFIRM AND SETTLE FINANCIAL TRANSACTIONS DURING THE YEAR: QUARTERLY REPORT WITH THE EXCEPTION OF THE JUNE QUARTER, WATC SUBMITS A REPORT ON ITS OPERATIONS DURING THE PRECEDING QUARTER TO THE TREASURER. THIS REPORT IS TABLED IN PARLIAMENT BY THE TREASURER. PRICING POLICY WATC OPERATES IN A DYNAMIC MARKET WHERE THE PRICE OF ITS LENDING TO THE PUBLIC SECTOR IS PRIMARILY DRIVEN BY THE COST OF ITS BORROWING. THIS COST FLUCTUATES ACCORDING TO THE PREVAILING LEVEL OF INTEREST RATES. WATC SETS IT LENDING RATES AT A COMPETITIVE LEVEL AFTER TAKING INTO ACCOUNT THE COST OF FUNDS, MARKET RISK, ADMINISTRATION COSTS AND THE RETURN ON CAPITAL. THE PRICING FOR FINANCIAL ADVICE AND FUNDS MANAGEMENT IS DETERMINED ON A COST RECOVERY BASIS. ASX AUSTRACLEAR LIMITED FOR A$ CASH, SHORT-TERM MONEY MARKET, FIXED INTEREST AND FOREIGN EXCHANGE TRANSACTIONS BANK OF AMERICA MERRILL LYNCH (CASHPRO ONLINE) FOR FOREIGN CURRENCY PAYMENTS CLEARSTREAM (CREATIONONLINE) FOR REPURCHASE OF OFFSHORE ISSUES CITIBANK NA (CITIDIRECT FOR SECURITIES) FOR TRANSACTIONS IN EURO COMMERCIAL PAPER AND EURO MEDIUM TERM NOTES ANNUAL REPORT 2012 31
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