The Ministry of Justice has received a good rating in Treasury’s ‘credit checks’ on government agencies.
The Investor Confidence Ratings measure Cabinet and Ministers’ confidence in government agencies’ ability to manage assets and the funds allocated to them.
The ratings process helps ensure taxpayer money is used as effectively as possible.
‘The Ministry received a B, the second highest possible rating, showing significant confidence in our ability to deliver good returns on our investments,’ says the Ministry’s Chief Financial Officer Andy Fulbrook.
The rating increases the Chief Executive’s sign-off limit for property investment to $25 million, while Justice Minister Amy Adams’ sign-off limit is increased to $40 million.
‘This increased responsibility means projects can begin sooner, and with a quicker approval process,’ says Andy.
‘Our rating is the highest amongst Justice Sector agencies. This is a great reflection on the ability of our people to make good investment decisions.’
The rating is based on 8 measurements across the corporate and ICT business groups.
For more information, see Treasury’s media release and latest rating results: http://www.treasury.govt.nz/publications/media-speeches/media/29jun17(external link)