Auditor-General's Department South Australia Logo

HomeStart Finance

Functional responsibility

HomeStart Finance (HomeStart) is a statutory corporation established by Regulation pursuant to the Urban Renewal Act 1995. It has a Board of Management appointed by the Minister for Housing and Urban Development and is subject to the control and direction of the Minister.

HomeStart’s functions include:

  • lending money or providing other financial assistance to facilitate home ownership to persons of low to moderate income
  • providing, marketing and managing home finance products
  • providing, managing or facilitating finance for housing schemes or housing associations and for mortgage relief schemes within South Australia
  • providing, managing or facilitating finance for the development, ownership or operation of aged care residential accommodation or facilities.

Financial statistics
Loans and advances: $1.7 billion
   
Short-term borrowings: $694 million
Long-term borrowings: $972 million
   
Profit before income tax: $15.6 million
   
Dividend paid: $7.1 million
   
Number of FTEs: 96.9

Financial statement opinion
Unmodified