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South Australian Forestry Corporation (ForestrySA)

Financial statistics
Sale of timber products: $19 million
Revenues from SA Government: $7 million
Value of land and standing timber: $85 million
Number of FTEs: 37
Hectares of forests managed by ForestrySA:  
   Commercial plantations owned by OneFortyOne Plantations Pty Ltd (OFO) 81 673
   Commercial plantations in the Mount Lofty Ranges 11 561
   Commercial plantations in the mid-north of the State 3 902
   Native forest reserves 19 868

Significant events and transactions
  • From 1 October 2015 OFO took over plantation management of the Green Triangle plantations from ForestrySA. A significant part of ForestrySA’s workforce and operations were transferred to OFO.
  • The SA Government is reconsidering the future of the fire ravaged plantations in the mid-north of the State.

Financial statement opinion

Financial controls opinion
Key issues:
  • Financial procedure documents not updated promptly with new processes and controls
  • Monitoring of key reconciliations should be improved to ensure they are prepared and reviewed on time to comply with Treasurer’s Instructions