ob体育 has today published estimated industry sector levies for 2018-19 as well as details on how it allocated its regulatory costs in 2017-18, as part of the its draft Cost Recovery Implementation Statement (CRIS).
The CRIS provides transparency of ob体育鈥檚 costs and how these costs are allocated to industry under the industry funding model.
The CRIS includes indicative levies for ob体育鈥檚 regulatory costs in the 2018-2019 financial year. This information will help industry better plan for the actual levy which will not be billed until January 2020. The indicative levies are a guide and the amounts are likely to change when ob体育鈥檚 regulatory costs are known and published in December 2019.
Next steps
Industry can provide feedback on the CRIS up until 26 April 2019. ob体育 will consider this feedback before preparing the final CRIS in May 2019.
More information about the CRIS, including details on how to submit feedback.
Background
The CRIS explains how ob体育鈥檚 regulatory activities will be cost recovered from each subsector it regulates and how ob体育 will recover its user-initiated costs via fees for service in 2018鈥�19. The CRIS includes:
- A forecast of ob体育鈥檚 regulatory costs and the work ob体育 will undertake for each subsector in 2018-19.
- An explanation of the cost recovery model, including the business process, outputs and how we allocate costs to calculate the levies and fees for service.
- Estimates of the levies that each regulated subsector will pay for the 2018鈥�19 financial year. Indicative levies are a guide only. They are based on budgeted allocation of costs for each subsector and estimates of the business activity metrics for each subsector. The amounts are likely to change when ob体育鈥檚 actual costs and the actual business activity metrics are known;
- Actual expenses ob体育 incurred in 2017鈥�18 for each subsector and the variance between actual expenses and the estimated costs in last year鈥檚 CRIS. Where there is a material variance, the CRIS explains the variance.
- An explanation of the amendments to the levies and fees for service models since the release of last year鈥檚 CRIS.
- An assessment of the risks associated with the industry funding model and how those risks have been managed. 聽