Page 1916 - Week 07 - Thursday, 20 August 1992
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increase in the consumer price index, changes in base population estimates and revised hospital funding grants. Interest earnings on investments were $4.4m below estimates, due to a greater than expected drop in interest rates.
The capital budget included an amount of $25m from accumulated reserves to retire Commonwealth debt and $5m of Community Development Fund reserves to fund community capital works projects. This use of reserves was partially offset by the improvement of $5.6m I referred to earlier. The statement also shows an increase in the Trust Fund cash balance. The increase comprises mainly provisions of $50m to meet accruing superannuation liabilities and the impact of the first year of operation of the Office of Rental Bonds Trust Fund.
The statement that I have tabled today is consistent with the budget presentation. The Auditor-General has commented that the budget presentation does not separate financing transactions from cash transactions. Madam Speaker, uniform national standards for presenting governmental financial reports are being developed jointly by the Commonwealth, State and Territory governments. In future, such budgeted debt retirement would be shown as a financing transaction. These new formats will be progressively reflected in forthcoming budget papers.
Debate (on motion by Mr Kaine) adjourned.
TREASURER'S ADVANCE
Paper
MS FOLLETT (Chief Minister and Treasurer): Madam Speaker, for the information of members, I present the statement of expenditure from the Treasurer's Advance for 1991-92, pursuant to subsection 47(2) of the Audit Act 1989, and I move:
That the Assembly takes note of the paper.
Madam Speaker, in accordance with the provisions of subsection 47(2) of the Audit Act, I am tabling a statement setting out totals of expenditure incurred against funds issued from the Treasurer's Advance during 1991-92. The Audit Act enables the Treasurer to make moneys available from the Treasurer's Advance for expenditures which are required to ensure the efficient management of ACT Government programs and which are in excess of specific appropriations or were not specifically provided for by appropriation. It is a requirement that the total expenditure incurred does not exceed the amount available under the Treasurer's Advance.
Expenditures totalling $23,860,508 were incurred against funding approvals issued from the Treasurer's Advance during 1991-92. The statement classifies expenditures by appropriation, division and purpose. According to accepted practice, Madam Speaker, members of the Assembly will have the opportunity to pursue the purpose of the expenditures through the Estimates Committee and the Public Accounts Committee.
Debate (on motion by Mr Kaine) adjourned.
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