AN Auditor-General's report says the former Labor Government's management of a fund to support regional areas lacked transparency.

Deputy Premier Peter Ryan today hit out at the former Government's management of the $100 million fund.

In State Parliament, Mr Ryan said the Auditor-General's report was "damning'' and showed a "clear lack of rigour and due process'' was followed in using taxpayer's money in the fund by the former Government.

According to the Auditor-General's report, Management of the Provincial Victoria Growth Fund, tabled today, handling of the fund was left wanting in many areas, such as "inadequate'' evaluation.

It stated there was "not a reliable basis to review whether funding decisions were adequately informed, consistent and soundly based''.

•  For more, see next week's The Weekly Times.