Providing Value to Clients
WATC plays an important role in the management of public sector finances by assisting agencies to make better financial decisions.
Value for the State is created through our activities, products and services, ensuring agencies have sufficient support and knowledge to make informed decisions and achieve their financial objectives.
Partnership
WATC works closely with each of our clients to understand their individual business requirements, assisting them to identify, quantify and manage financial risks and ensure they have the necessary information to make the best financial decision for their organisation. For instance, we reviewed requests for tender documentation on behalf of our clients to ensure that the respondent bids included the necessary information in order to assess the full impact of any foreign exchange exposure over the life of the contract. Additionally, we assisted in the preparation of a series of significant business cases, evaluated a range of options for the replacement of major assets and provided on-going expert resources to assist the State to understand and maximise the value of potential assets.
WATC also supports the development of local communities by providing low-cost debt finance and secure investments to Western Australian local governments. We actively promote and assist local governments in the appropriate use and effective management of debt finance and investments. Our advisory services offerings are also available to local governments, including providing lease versus own analysis to provide significant information to facilitate optimal financial decision-making by councils. Additionally, we have prepared a series of informative articles to assist local governments utilise and manage debt to improve financial, asset management and service delivery outcomes.
Knowledge Exchange
WATC continues to provide clients with the information, skills and resources so they can make informed financial decisions. During 2018/19, we held a number of events for clients that covered a range of topics, including the State and Federal budgets, the economy, green bonds, currencies and interest rates. We also continued to deliver our foreign exchange educational seminars, which promote awareness and understanding of foreign exchange risk management issues. Since their inception in 2013, more than 950 people from agencies across Western Australia’s public sector have attended the seminars.
Additionally, it is important that the economic and fiscal positions of the State are understood by existing and potential investors. As such, we participated in a number of fixed income conferences, the Under Treasurer, Michael Barnes, and WATC’s CEO, Kaylene Gulich, presented a mid-year economic and fiscal update for investors in January 2019, and the 2018/19 year ended with a post WA State Budget 2019-20 investor presentation by the Treasurer, the Hon. Ben Wyatt.
Leadership
WATC has specialist knowledge of financial markets and a high level of skills in a variety of financial risk techniques and procedures, enabling us to provide expert, independent and professional advice and innovative solutions to the Western Australian public sector. Examples of our unique expertise benefitting the State include WATC taking the lead commercial role for the Westport Project where we assisted the Department of Transport by providing commercial analysis of the various options under consideration, a key input into the Multiple Criteria Analysis process; and, after conducting a detailed, independent review of a major whole-of-government strategic information and communication technologies initiative, we presented a series of recommendations for future actions that should lead to significant improvements in ICT implementation and effectiveness.
Looking Ahead:
Provide leadership to government to support the development of policies to enhance the management of the State’s finances.
Partner with the Department of Treasury for the Graduate Program 2020, where graduates will have the option to spend a rotation with WATC to gain exposure to our unique role and functions.