A waterfront development on Canberra's central lake was long overdue, and cost almost twice as much as expected even though less work was done, an audit has found.
ACT Auditor-General Michael Harris's assessment of the project at Lake Burley Griffin's West Basin was scathing in its criticism.
The development, on the Acton shoreline, will eventually include Henry Rolland Park, an extended boardwalk, a waterfront park, and residential and mixed-used buildings.
In 2014, the initial works were predicted to cost $28 million and be finished by 2016.
However, Mr Harris's report, published on Friday, said the price had increased to $46.8 million by 2020, for only two-thirds of the work outlined in the original tender.
Some of the delays were attributed to difficulties in buying privately held leases in the area.
The audit found the now-defunct Land Development Agency (LDA) had an "ineffective" approach to managing the construction contract.
"The [tender] process did not provide for a satisfactory, fair and open competition that was capable of demonstrating value for money," it said.
It also said "weaknesses in documentation and in the presentation of information to decision-makers and advisory bodies were also evident", and the "merits or otherwise of re-tendering have not been seriously contemplated".
The report recommended that the government make more information about its procurements public, review its contracting processes, and improve both its risk analysis and how it briefed decision-makers.
Recommendations 'seem quite reasonable': Chief Minister
Although the audit report criticised the City Renewal Authority, which is one of the LDA's successors, Chief Minister Andrew Barr argued that many findings related to the abolished LDA.
However, he agreed that many of the recommendations "at first glance seem quite reasonable".
"We'll go through the detail of the Auditor-General's report," Mr Barr said.
"The City Renewal Authority is the agency that will be charged with formally responding and enacting the recommendations."
Mr Barr said that, despite the report's criticism, the lakeside project was "progressing well".
"For the first time in 100 years, a car park was turned into a park and playground in Canberra, so it reversed a significant trend of alienating public spaces," he said.
The project's first stage was complete, and Mr Barr said the current works – including a beach – would soon be open to the public.
Opposition Leader Elizabeth Lee said the report highlighted significant problems with government procurement.
The Liberals have previously raised concerns about consulting contracts at the Canberra Institute of Technology, which are now under investigation, and a project to modernise Campbell Primary School.
"The report shows there was a complete failure of due process and highlights significant issues when it comes to transparency and governance when spending taxpayers' money," Ms Lee said.
"How can the public have any confidence that ACT government procurements are firstly above board and secondly represent value for money?
"It is clear the question is not if there will be further problems with ACT government procurements but when, and tax-paying Canberrans are the ones who are losing out."
