Page 1312 - Week 04 - Thursday, 21 April 1994

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MADAM SPEAKER, I PROVIDE THE GOVERNMENT RESPONSE TO REPORT NO. 5 OF THE STANDING COMMITTEE ON PUBLIC ACCOUNTS PRESENTED IN THE ASSEMBLY ON 15 SEPTEMBER 1993.

THIS REPORT COVERS THE AUDITOR GENERALS REPORT NO. 5 OF 1992 WHICH WAS CONCERNED WITH THE FOLLOWING AREAS OF GOVERNMENT:

BUDGET PRESENTATION, AND

AGGREGATE FINANCIAL STATEMENTS

THE GOVERNMENT HAS GIVEN CAREFUL CONSIDERATION TO EACH OF THE RECOMMENDATIONS OF BOTH THE AUDITOR GENERAL AND .HE PUBLIC ACCOUNTS COMMITTEE AND I WILL RESPOND TO EACH OF THESE AREAS IN TURN.

BUDGET OUTCOME PRESENTATION

MEMBERS WILL BE AWARE THAT THE 1993-94 BUDGET PAPERS WERE IMPROVED TO ADDRESS THE AUDITOR GENERALS RECOMMENDATIONS.

THE OVERALL BUDGET POSITION FOR 1993-94 WAS PRESENTED ON A CASH BASIS, IN A FORMAT CONSISTENT WITH THE AUDITOR GENERALS FINDINGS. IT IS IMPORTANT TO NOTE, HOWEVER, THAT THE GOVERNMENTS COMMITMENT TO RESPONSIBLE FINANCIAL MANAGEMENT HAD ENABLED THE ESTABLISHMENT OF PROVISIONS AND RESERVES IN PREVIOUS YEARS TO FUND SPECIFIC EXPENDITURES IN 1993-94. THESE PROVISIONS WERE THEREFORE USED TO PARTLY FUND THE DEFICIT POSITION.

BUDGET PAPER 2 ALSO ADDRESSED THE AUDITOR GENERALS CONCERNS IN RELATION TO WHOLE OF GOVERNMENT INFORMATION BY PROVIDING A CONSOLIDATION OF ALL TRANSACTIONS WITHIN THE PUBLIC ACCOUNT. THIS PRESENTATION DOES NOT HOWEVER MEET THE AUDITOR GENERALS AIMS OF REPORTING WHOLE OF GOVERNMENT ACTIVITIES BECAUSE IT EXCLUDES OFF-BUDGET TRANSACTIONS THROUGH BANK ACCOUNTS.

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