The Statement of Corporate Intent is prepared pursuant to Section 41 of the Government Business Enterprises Act 1995.

Part 1: Business Definition

Core Business
In accordance with the Ministerial Charter the scope of the commercial activities to be undertaken by TASCORP will be:

		to provide borrowing, investment, debt and asset management services for the government, government business enterprises, local government and state owned companies, and
		to deliver financial advisory services to government, government business enterprises, local government and state owned companies, including activities in relation to asset, liability and risk management by these clients.

Key Limitations
 

1.1 Credit Rating
TASCORP's cost of borrowing is dependent upon the State's credit rating, over which the Corporation has no control.

1.2.Price Taker
Given the volumes of TASCORP debt, TASCORP is obliged to accept the market price for funds at the time it borrows.

Community Service Obligations
TASCORP has no community service obligations.

Part 2: Strategic Direction
Major Goals and Expected Outcomes

2.1 Borrowing Activities
To meet the funding needs of clients at an interest rate comprising TASCORP's cost of borrowing including any hedging costs.

2.2 Investment Services
To provide clients with a rate of return equivalent to, or in excess of, a relevant market benchmark.

2.3 Other
To strive for market excellence in the provision of financial services to the Tasmanian public sector.

2.4 Return on Capital
To achieve a sustainable commercial rate of return while maintaining a sound financial structure and operating within financial risk parameters consistent with TASCORP’s status as a public sector entity.

Part 3: Business Performance Targets

3.1 Service Targets
Ensure TASCORP maintains a strong client focus by:

		setting service delivery targets in its Corporate Plan, and
		measuring and reporting the rates of client satisfaction against those targets in its Annual Report.

3.2 Financial Performance Targets
Set financial performance targets in its Corporate Plan and report on their attainment or otherwise in its Annual Report.

3.3 Non-Financial Performance Targets
Comply with the risk management policies set by the TASCORP Board.

Part 4: Other Business Issues

4.1 Pricing Policy
TASCORP is expected to set prices, fees and charges that:

		ensure an adequate return for the risk assumed by TASCORP, and
		represent fair value to TASCORP’s clients.