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Urban Renewal Authority (URA)

Financial statistics
Sales: $70 million
Cost of sales: $37 million
Loss before income tax equivalent: $19 million
Inventories and investment properties: $1034 million
Borrowings: $911 million
   
Number of FTEs: 304.3
Hectares of land inventory: 3887

Significant events and transactions
  • The URA purchased a portfolio of TAFE SA properties from the Department of State Development on 1 March 2017 for $619 million. The purchase was funded through new borrowings of $400 million and equity contributions of $219 million provided by the SA Government.
  • The Minister for Housing and Urban Development issued a direction to address a 2015 recommendation by the Independent Commissioner Against Corruption to clarify the reporting relationship, reporting requirements and decision-making responsibility between the Chief Executive, the Board and the Minister.

Financial report opinion
Unmodified

Financial controls opinion
Modified
  • The URA does not have a final, approved ownership framework