Department of the Legislative Assembly, Northern Territory Government

Treasury Corporation Management System, Review

w

WRITTEN QUESTIONS
11th Assembly


15/07/2010

184. Treasury Corporation Management System, Review

Mr Elferink to for Treasurer

QUESTION
    Minister, page 18 of the Treasury Corp’s Last Annual Report said:
        “The Corporation’s registry services were put out to tender in April 2009. In June 2009 the contract was awarded to Link Market Services (Link). A data migration project from the current providers, Computershare Investor Services, to Link will take place with a parallel run of services occurring in July and August 2009. The new contract with Link is effective from 1 September 2009.

        A scoping exercise was completed in early 2009 on the Corporation’s treasury management system to consider a major upgrade to improve system capabilities. The outcome of this exercise is currently being reviewed and an upgrade is likely to occur late in 2009.”

    1. Can the you advise in detail the outcomes of this Corporation’s treasury management system upgrade.

ANSWER


Answered on 11/08/2010

No. 184
LEGISLATIVE ASSEMBLY OF THE NORTHERN TERRITORY

WRITTEN QUESTION
Mr Elferink to Treasurer
Treasury Corporation Management System, Review

Minister, page 18 of the Treasury Corp’s Last Annual Report said:

“The Corporation’s registry services were put out to tender in April 2009. In June 2009 the contract was awarded to Link Market Services (Link). A data migration project from the current providers, Computershare Investor Services, to Link will take place with a parallel run of services occurring in July and August 2009. The new contract with Link is effective from 1 September 2009.

A scoping exercise was completed in early 2009 on the Corporation’s treasury management system to consider a major upgrade to improve system capabilities. The outcome of this exercise is currently being reviewed and an upgrade is likely to occur late in 2009.”

1. Can the you advise in detail the outcomes of this Corporation’s treasury management system upgrade.
The Treasury management system is used for recording, accounting, valuing and reporting transactional activity undertaken by NTTCorp. It is a specialised system provided by an external provider and is regularly audited by the Auditor-General.

In 2008-09 NTTCorp reviewed its Treasury management system (Quantum) to consider the benefits of an upgrade in order to maintain and/or improve system capabilities. The outcome of this exercise was completed in early 2009, which determined that an upgrade was necessary to ensure NTTCorp continued to operate with a version of the software that is supported by the vendor (SunGard).

Accordingly, an upgrade was scheduled to occur late in 2009.

In September 2009, NTTCorp initiated the implementation of the Quantum Upgrade Project. This involved a parallel run of the existing version (v4.02) with the latest release of the software (v4.5.2).

During the implementation phase the new version of the Quantum application was tested in a separate production environment and system outputs were compared to those from the existing version. A number of issues were identified and logged with SunGard for their attention, and all were resolved prior to going live with the new version on 9 November 2009.

The major point of difference between the existing and new version of the software is the accrual accounting framework. SunGard have implemented changes to the way in which accruals are displayed for reporting purposes. A thorough review of the accrual reporting outputs was undertaken and NTTCorp was satisfied that the changes were mainly presentational and did not affect postings to the general ledger.

Since the last Quantum upgrade in 2005 there have been a number of system enhancements, offering additional functionality for front and back office deal management and reporting. NTTCorp is currently exploring how these enhancements might be utilised to improve productivity and reduce reliance on manual data input and maintenance of separate electronic data files.

The upgrade has been completed successfully and no issues have emerged.
Last updated: 04 Aug 2016