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Legislative Assembly for the ACT: 1997 Week 14 Hansard (10 December) . . Page.. 4843 ..

MRS CARNELL (continuing):

In keeping with the standard of detailed explanations and analysis of the Territory's financial position I have presented to this Assembly each month for over a year, I am now presenting a similar picture of the Territory's full 1996-97 outcome, now that the audit has been completed. The consolidated financial management report I have circulated to members provides a detailed outline of the Government's performance during 1996-97 and a snapshot of the Territory's position at the end of that year. I am sure that it will prove very enlightening to members, and I hope that everybody will ensure that they read it. I hope that it will avoid any inaccurate perceptions.

Mr Speaker, preparation of these financial statements for 1996-97 will provide a basis, for the first time, to examine the Territory's true position and the challenges and opportunities standing before it. The Territory, understandably, maintained its AAA credit rating during 1997. This shows a confidence in the Territory's recent financial performance and its position to face the challenges that lie ahead. But this confidence is based upon our history of prudent financial management to address the prevailing needs of the community and our economy. It is not based on irresponsible or unnecessary spending of public financial assets, nor ignorance of the need to prepare for future challenges.

In 1996-97, this Government's reforms have allowed it to improve markedly its financial performance by making informed decisions on service delivery. The financial results have been improved without reducing services to the community, particularly the community in need. This will form a foothold for further improvements to ensure that the ACT remains the healthy, well-educated and vibrant community to which the residents are accustomed and which the residents expect and desire.

Mr Speaker, this is a tribute to the people who work in OFM, particularly Mr Mick Lilley, who heads up that area, but also to all of his staff, who have worked extremely hard. The other person I would like to mention is Mr Geoff Ellis, who has put in an amazing effort over the last two years. I move:

That the Assembly takes note of the paper.

MR WHITECROSS (3.54): I thank the Chief Minister for tabling this paper, which supplements the consolidated annual financial statements which were tabled last week. I appreciate the Chief Minister's tabling of them to provide all members with further information on the outcomes for the 1996-97 financial year. Mr Speaker, in tabling the consolidated annual financial statements last week, the Chief Minister made certain claims in relation to her projection of the position for 1997-98.

Mrs Carnell: I will be in a position to table them tomorrow, which I said I would do this week.

MR WHITECROSS: The Chief Minister indicated that she would produce a statement in relation to that this week. I have just heard the Chief Minister reaffirm that she will be making that statement tomorrow, and I welcome that. I was rather anxious to ensure that she did not overlook it, as we are in the last sitting week of the parliament.

Question resolved in the affirmative.

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