Page 2647 - Week 10 - Tuesday, 13 August 1991
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TREASURER'S ADVANCE
Paper
MS FOLLETT (Chief Minister and Treasurer): Mr Speaker, for the information of members, I present the following paper:
Audit Act - Statement of expenditure from the Treasurer's Advance, dated 13 August 1991.
In accordance with the provisions of the Audit Act, I have tabled an explanatory statement concerning an increase in the appropriation to the Treasurer's Advance in 1990-91. The Audit Act anticipates the potential need for the Treasurer's Advance to be increased to ensure the effective management of ACT Government programs. The Act requires that, within six sitting days of the advance being increased, the Chief Minister table in the Assembly a statement setting out the facts upon which the increase was approved by the Executive.
I am therefore required to table this statement in the Assembly today to set out the facts surrounding the increase to the Treasurer's Advance by the Alliance Government in the 1990-91 financial year. I am advised that, on 4 June 1991, the Alliance Government Ministers were satisfied that sufficient moneys were available in the Consolidated Revenue Fund to meet an additional appropriation of $65m. I am informed that the major part of the increase was intended to facilitate the payment of superannuation funds to a trust account established for this purpose. These funds were being held in the consolidated fund to meet future superannuation liabilities. In the end, only $36.4m was transferred, although further superannuation funds remaining in the consolidated fund will be paid to the trust account in 1991-92.
I am also informed that, at the time the increase was endorsed, Ministers were also aware of additional requirements by some programs for funding from the Treasurer's Advance. In the end, $14.8m was made available to enable programs to meet obligations to the end of the financial year. However, savings were available in other areas to offset the bulk of these requirements. A statement setting out particulars of all expenditure that remains as a charge to the Treasurer's Advance for 1990-91 will be tabled in the next sittings for the information of the Assembly.
I move:
That the Assembly takes note of the paper.
Debate (on motion by Mr Kaine) adjourned.
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