The Victorian auditor General has handed down the final approval of the 2011-12 Annual Financial Report (AFR), confirming the $571 net operating result.


Treasurer Kim Wells said in a report tabled in Parliament, the Auditor General confirmed he had given a clear audit opinion of the state’s financial results in the AFR.


“The Auditor General noted that challenging financial conditions outside the state’s control impacted on our bottom line,” Mr Wells said.


“Despite these challenges, the Coalition Government successfully delivered on its commitment to achieve an annual $100 million surplus on transactions for the general government sector.


Mr Wells also welcomed the Auditor General’s finding that most major asset projects being delivered on behalf of the state are progressing well against budgets and time frames.