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South Australian Water Corporation

Functional responsibility

The South Australian Water Corporation (SA Water) was established pursuant to the South Australian Water Corporation Act 1994. SA Water is responsible to the Minister for Water and the River Murray.

The primary functions of SA Water, are to provide services for the storage, treatment and supply of water and removal and treatment of wastewater.

The Public Corporations Act 1993 applies to SA Water and requires a charter and performance statement to be prepared by the Minister and the Treasurer after consultation with SA Water.

Financial statistics
Water and wastewater rates and charges: $1.16 billion
Community service obligations: $128 million
Borrowing costs: $314 million
Profit before income tax: $279 million
Infrastructure, plant and equipment: $13.5 billion
Borrowings: $6.3 billion
Net assets: $5.3 billion
Number of FTEs: 1500

Significant events and transactions
  • A $2.7 billion dividend was requested by the Treasurer, recommended by the SA Water Board and approved by the Acting Treasurer in September 2014. This dividend was paid through reassigning responsibility for $2.7 billion of existing debt from the Treasurer to SA Water, with the transfer taking place in October 2014.
  • Revenue from water and wastewater charges increased by $60 million as a result of a 2.9% increase in rates and increased water usage.
  • Revaluation loss of $135 million predominantly relating to the external valuation of wastewater treatment plants, resulting in a $122 million decrement.

Financial statement opinion

Financial controls opinion
Key issues:
  • Inadequate user access reviews for access to a number of SA Water systems
  • Inadequate review of, or restrictions regarding, financial authorisations established within a number of SA Water systems