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Legislative Assembly for the ACT: 1996 Week 14 Hansard (12 December) . . Page.. 5109 ..
"What has been done to clarify inconsistencies between budget results and financial reporting in the 1995-96 financial statements arising from AAS 29 and GFS format"
The Office of Financial Management has provided information sessions to MLAs about the Government's financial reforms. These sessions have included explanation of the difference between cash and accrual concepts, that is, between the concepts used for GFS reporting and those used for AAS 29 reporting .
The Financial Management Act 1996 includes a requirement for the preparation of accrual budgets. This is to enable comparison of actual and budgeted results in the audited accrual financial statements at the end of the year.
"The outcome of the reviews relating to the issues of mental health rehabilitation "businesses", issuing of equipment at the Central Equipment Pool (CEP), and receipting and payment at the CEP"
The ACT Health and Community Care Service has now reviewed operating procedures in the Cafe Pazzini, Northside Contractors and CEP. Remedial measures have been undertaken regarding the issues raised by the Auditor-General. Any remaining financial risk exposure associated with Cafe Pazzini and Northside Contractors is being assessed through an independent review being conducted by chartered accountants. This review will be completed in December 1996.
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