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Legislative Assembly for the ACT: 1996 Week 14 Hansard (12 December) . . Page.. 4826 ..

MR STEFANIAK (Minister for Education and Training): It was Ms Reilly, I think, who asked me a question on this matter. I indicated that I tendered two documents. There is another document as well that I thought was with that tender. It is the groups that actually submitted tenders, which I think she also requested. I am advised that it is appropriate to tender that, and I now formally table that document as well.

MRS CARNELL (Chief Minister and Treasurer) (3.39): Mr Speaker, for the information of members and pursuant to section 26 of the Financial Management Act 1996, I present the financial management report for the period ending 31 October 1996. I move:

That the Assembly takes note of the paper.

I am pleased to present the Territory's financial report for the period to the end of October 1996. The report presents information for both the general government sector and the public trading enterprise sector. The general government sector reports an operating loss of $57m. This is a $39m improvement on the budgeted seasonal operating result. This positive result is attributable to revenues being $46m higher than the seasonal budget, offset by expenses being $7m higher than budget. Net assets for the general government sector have decreased by $60m from the beginning of the year. While total assets have increased by $184m, this is offset by a corresponding increase in total liabilities of $245m.

The PTE sector has experienced an operating gain before tax of $24m. This is a $4m improvement on the seasonal budget. This positive result has been achieved through reduced expenditure of $5m, offset by reduced revenue of $1m. Net assets for the PTE sector have increased by $8m from the opening balance, due to a decrease in liabilities. Capital works full year expenditure is not expected to vary from forecasts. Although expenditure is $2m lower than forecast for this time of year, expenditure is expected to pick up as more projects move to the construction phase.

Based on this report, the 1996-97 budget limits will be met. A statement of cash flows for both sectors has been provided in this report. In order to present this report today, a total Territory statement has not yet been consolidated. This consolidation will be circulated to Assembly members as soon as possible. The report presents a very positive result for the Territory, and I am pleased to be able to present this report to the end of October to the Assembly today.

Debate (on motion by Mr Whitecross) adjourned.

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