Page 2267 - Week 08 - Tuesday, 17 August 1993
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The statement indicates an overall surplus on the public account for 1992-93 of $30.5m compared with the budget time estimate of a public account deficit of $35.6m. This result is primarily explained by the strong performance of the Consolidated Fund budget itself and the reserves that have been accumulated within the public account to meet future superannuation liabilities.
I have also tabled today a statement in accordance with section 49B of the Audit Act 1989 relating to variations to appropriations. During the year the Executive approved a number of transfers between programs, to recognise emerging needs and to ensure responsible cash management. These transfers are subject to a limit of 3 per cent of funds appropriated to the relevant programs. The transfers enabled priority needs to be met without adding to total budget expenditures. Details on the basis of the transfers will be reported in relevant agency financial statements and in the documentation being prepared for the 1993-94 budget. I would like, however, to briefly explain the most significant of these transfers.
The most significant adjustment relates to the transfer of funds for the health program. These transfers provided funding for changes in the public-private patient mix and the impact of increased activity levels. A further significant adjustment relates to the transfer of funds to the government schooling program for the full-year effect of the costs of the changing teacher profile. The Government believed that it was appropriate to meet funding for these and other demands by reviewing priorities through the year. This enabled savings achieved within other programs to be utilised within the year to meet these needs without adding to total appropriations. Savings available during the year included expenditures which, for reasons such as availability of appropriate supplies and other timing issues, were deferred until 1993-94. I would like to emphasise that the favourable budget outcome this year ensures capacity to meet all deferred expenditures and these will be subject to consideration in the 1993-94 budget.
The statement on variations to appropriation I have tabled today also provides information on increased Commonwealth payments on-passed to programs during the year. Additional funding of $650,000 was approved in accordance with directions under section 49A of the Audit Act 1989. The most significant of these funds were $540,000 for non-government schooling and $46,000 for budget adjustments under the Commonwealth-State disability agreement. These amounts were fully funded by the Commonwealth.
Madam Speaker, I have also tabled a statement on the final charges against the Treasurer's Advance in 1992-93 in accordance with section 47(2) of the Audit Act. The final charge against the advance was $8m, compared to the $12m provided in the 1992-93 Appropriation Act. Except for act of grace payments, expenditures are a final charge against the advance only once all other appropriated funds available to a program have been exhausted. Accordingly, there can be significant variation between approvals given for use of the advance within the year and final charges at the end of the year. The outcome for 1992-93 is, I believe, the lowest level of resort to the advance since self-government.
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