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South Australian Government Financing Authority

Functional responsibility

The South Australian Government Financing Authority (SAFA), a body corporate, was established under the Government Financing Authority Act 1982 (SAFA Act).

SAFA is the central borrowing authority for the State of South Australia, and is responsible for managing the majority of the State’s debt and for implementing the Government’s debt management policy as determined by the Treasurer of South Australia.

Pursuant to section 15 of the SAFA Act, SAFA’s liabilities are guaranteed by the Treasurer.

SAFA also administers the Government’s:

  • insurance and risk management arrangements through its insurance division trading as SAICORP
  • passenger and light commercial vehicle fleet operations.

Financial statistics
Profit before income tax equivalents: $33 million
Total loans on issue: $18.4 billion
Total bonds, notes and debentures on issue: $15.6 billion
Outstanding insurance claims: $366 million
Fleet vehicles owned (including held for sale): $183 million

Significant events and transactions

A variation in SAFA’s government sector loan profile resulting from the Government’s $2.7 billion restructure of the South Australian Water Corporation’s debt to asset gearing ratio.

Financial statement opinion