VPRS 11074 Department of Industry, Technology and Resources Loans Review Files [Records Not Transferred]

The series was created by the Victorian Auditor-General's Office (VA 1031) during the period 1983 to 1989 in relation to the audit review of the Department of Industry, Technology and Resources (DITR).DITR was the principal administrative vehicle through which the government sought to achieve the industry related component of its economic strategy. In addition to the overall administration (which included the co-ordination of activities of other agencies such as the Victorian Economic Development Corporation and the Small Business Development Corporation) the Department had been appropriated funds to enable it to provide direct financial assistance to companies. This assistance had been provided in the form of loans (generally over $100,000), interest subsidies and grants (Generally up to $100,000). Grants, loans and subsidies were a major component of the forms of assistance provided by DITR in fulfilment of the Government Economic Strategy. The implementation of the Economic Strategy had been overseen by the Department of the Management and Budget.The audit review indicated that significant deficiencies existed in the Department loan administration systems and policy guidelines. Consequently, the provision of financial assistance by DITR was limited to grants.The series consists of:* index of files* business plan, policies and programs* case studies: V.F.M. audits (financials assistance packages: profiles of loan advanced to firm)* reports and drafts* Auditor-General reviews* financial statements* general correspondence* newspaper cuttings* minutes of the meetings.