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Legislative Assembly for the ACT: 1997 Week 14 Hansard (10 December) . . Page.. 4842 ..
Paper and Ministerial Statement
MRS CARNELL (Chief Minister and Treasurer): Mr Speaker, for the information of members and pursuant to section 14 of the Financial Management Act 1996, I present an instrument issued and a statement of reasons for giving it. I ask for leave to make a short statement.
Leave granted.
MRS CARNELL: Section 14 of the Financial Management Act 1996 allows for transfers of funds between appropriations. An instrument under this section was signed on 9 December 1997. Transfers under the Financial Management Act enable changes in appropriations throughout the year to be accommodated within the total appropriation limit.
As part of the Government's retail policy initiative, a fund known as the Self-help for Local Centres Retail Fund has been established with the Department of Business, the Arts, Sport and Tourism - BASAT. The transfer of $200,000 funded from a reprioritisation of minor new works within the Department of Urban Services will provide a total budget in 1997-98 of $500,000 for works at local retail centres, known as the HelpShop Fund. Mr Speaker, I table the section 14 instrument, including reasons for the transfer, for the information of members and the ACT community.
Papers and Ministerial Statement
MRS CARNELL (Chief Minister and Treasurer): For the information of members, I present the consolidated annual financial statements for the 1996-97 financial year. I ask for leave to make a short statement.
Leave granted.
MRS CARNELL: Mr Speaker, you will recall that last week I presented to the Assembly the 1996-97 consolidated financial statements for the Territory. The statements showed that the Territory achieved an operating loss for 1996-97 of $100m, before abnormal and extraordinary items. To remind members, this result was $153m better than the previous year and $132m better than budgeted. I am sure members will agree that this is an excellent result for the ACT. Members will be aware also that these consolidated financial statements are the first of their kind for the ACT and have been prepared in accordance with accepted accounting practice, two years ahead of the mandatory schedule for all Australian governments. They also complete the first full cycle of this Government's reforms to budget, manage and report according to full cost and services to the community.
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