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Legislative Assembly for the ACT: 1997 Week 10 Hansard (23 September) . . Page.. 3093 ..

MR STEFANIAK (continuing):

The Commonwealth Education Legislation Amendment Act 1997, passed in May this year, placed the university under Territory jurisdiction through the Australian Capital Territory (Self-Government) Act. This Act is due to commence on 1 December 1997. ACT legislation amending the University of Canberra Act must also commence on this date.

Mr Speaker, the new University of Canberra (Transfer) Bill 1997 places the university under the Financial Management Act and the Territory accountability framework. The new Bill incorporates those parts of the old Bill that are not affected by the Financial Management Act. It is important to note that the university will continue to be accountable to government and the community. The Chief Minister will appoint 10 of the 22 members of the university council as the positions become vacant. This gives the Territory substantial influence on the affairs of the university. It is the Government's intention that some members of the Legislative Assembly should be included on the council. The university council will be responsible for the efficient and effective management of the university. All university statutes will be tabled in the Assembly. Legislative statutes will be disallowable if they determine or alter existing law. The university will establish whistleblowing statutes that the Executive can examine to ensure they comply with government objectives on public interest disclosure.

The university will continue to report on a calender year basis, tabling its annual report in the Assembly within four months of the year end. Financial statements will be presented to the ACT Auditor-General within two months of the calender year end. The university receives most of its funding from the Commonwealth Government and was assured that it would retain its autonomy upon transfer. Accordingly, I propose a number of exemptions from the provisions of the Financial Management Act. These exemptions have been developed following extensive consultations with the university.

The university will not be required to prepare a statement of intent or a statement of performance. The university already provides comprehensive financial reporting to the Commonwealth under the Higher Education Funding Act 1988. These reports will be available to the Territory. The university will retain the capacity to determine which bank it uses and will not be required to use the Territory's bank. Loans drawn by the university will not need to be paid into the Territory bank account. While the university will have similar investment powers to other Territory authorities, it will also be able to invest either with an authorised dealer or in clean bills of exchange.

The university will form or participate in a company or joint venture subject to Commonwealth corporation law. Where the university has a controlling interest, the council must authorise all changes to company memorandum or articles of association. Company and joint venture operations and financial statements will be summarised in annual reports. The university is liable for Territory taxation unless exempt under specific laws. The university financial statements will be prepared in accordance with generally accepted accounting practice. The Auditor-General will audit all financial matters and report any irregularities to the council.

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