Performance Against Targets

The WATC Board sets our annual performance targets. These targets form part of the Statement of Corporate Intent, which is submitted to the Treasurer at the start of each financial year in accordance with Section 16I(1) of the Western Australian Treasury Corporation Act 1986.

WATC’s Key Performance Indicators are developed in line with the State Government’s goal of “Strong and sustainable finances – responsible, achievable, affordable service delivery”.

Key Performance Indicators

	Estimated Interest Rate Saving
Target	Savings > 0.00% Estimate of the benefits derived from centralising the State’s debt portfolio management and borrowing program within WATC.
Result	Estimated interest rate savings to clients by reference to bond credit rating and term to maturity were greater than 0.00%.
Comment	Target achieved. WATC continued to deliver significant interest rate savings to clients in 2020–21. See Key Performance Indicator section on page 87 for a more detailed explanation.
Five Year Trend

	Assessment of Client Satisfaction
Target	90% client satisfaction WATC continues to target an aspirational client satisfaction level of 100%.
Result	99% client satisfaction (alignment of products and services to client needs).
Comment	Target achieved. WATC uses a range of mechanisms to actively monitor and assess client satisfaction. This year we commissioned an independent survey of WATC’s State Government clients. The survey results also indicated that WATC continued to outperform financial industry benchmarks in terms of quality of service and understanding clients’ financial needs.
Five Year Trend

	Administration Cost Ratio
Target	Administration Cost Ratio < 0.050% Measures administrative efficiency and the cost effectiveness in funding client borrowing requirements.
Result	Administration Cost Ratio = 0.040%
Comment	Target achieved. WATC continued to deliver scale benefits to the State by keeping net administration expenses in check. See Key Performance Indicator section on page 89 for a more detailed explanation..
Five Year Trend

	Pre-Tax Profit
Target	Profit = $34.1 million
Result	Profit = $31.7 million
Comment	Target not achieved. Lower than anticipated new borrowings reduced admin margin collected, and the lower interest rate environment reduced interest earned on investments. While reducing WATC’s profit, these reflect good outcomes for the State and Western Australian public sector agencies.
Five Year Trend

	Staff Engagement Rating
Target	Staff Engagement Rating > 65%
Result	Staff Engagement Rating = 60%
Comment	Target not achieved. Staff engagement has been steadily improving from previous years’ results as work continues on the strategic approach to improve employee engagement by encouraging and developing self-leadership, leading others and leading the organisation through values based competencies and continuous improvement aligned to delivering WATC’s vision and objectives.
Five Year Trend