Page 1314 - Week 04 - Thursday, 21 April 1994

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OUTCOME WILL BE AVAILABLE IN THE BUDGET PAPERS. HOWEVER, IT IS PROPOSED TO PROVIDE THE ASSEMBLY WITH A FULL STATEMENT ON THE OUTCOME OF THE 1993-94 BUDGET, ALONG WITH A RECONCILIATION WITH ORIGINAL ESTIMATES FOR THAT YEAR, IN SEPTEMBER.

AGGREGATE FINANCIAL STATEMENTS

MADAM SPEAKER, I TURN NOW TO AGGREGATE FINANCIAL STATEMENTS AND THE PROGRESS ON THE MOVE TOWARDS ACCRUAL ACCOUNTING.

BOTH THE AUDITOR GENERAL AND THE PUBLIC ACCOUNTS COMMITTEE HAVE ACKNOWLEDGED THE SIGNIFICANT PROGRESS _"HAT HAS BEEN MADE SINCE SELF GOVERNMENT IN FINANCIAL INFORMATION DISCLOSURE.

TH IS PROGRESS INCLUDES BOTH FULL ACCRUAL REPORTING OF ALL

COMMERCIAL AND SOME NON-COMMERCIAL ENTITIES, AND THE

SIGNIFICANT AUDITED SUPPLEMENTARY INFORMATION PROVIDED IN

THE UNITARY FINANCIAL STATEMENTS.

THIS GOVERNMENT IS CONTINUING THE PROGRESS IN THIS AREA TI-iROUGH A NUMBER OF FINANCIAL MANAGEMENT PROJECTS, INCLUDING A REVIEW OF RELEVANT LEGISLATION, THE DEVELOPMENT OF AN IMPROVED FINANCIAL MANAGEMENT SYSTEM AND THE EXPANSION OF ACCRUAL REPORTING TO THE WHOLE OF GOVERNMENT LEVEL.

THESE MEASURES ARE IN ACCORDANCE WITH THE GENERAL THRUST OF THE COMMITTEES REPORT. THE COMMITTEE RECOMMENDED THAT THE GOVERNMENT PROVIDE A TIMETABLE FOR THE EXPANSION OF ACCRUAL REPORTING TO ALL PUBLIC SECTOR ACTIVITIES AND THE PROVISION OF WHOLE OF GOVERNMENT ACCRUAL REPORTS.

MADAM SPEAKER, I ANTICIPATE THAT ACCRUAL REPORTING COULD

BE EXTENDED TO A NUMBER OF CONSOLIDATED FUND ACTIVITIES ON

A PILOT BASIS AS SOON AS NEXT FINANCIAL YEAR. ON PRESENT

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