Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .

Legislative Assembly for the ACT: 1999 Week 4 Hansard (22 April) . . Page.. 1230 ..

There may however be transactions that occur which impact negatively on the operating result in future months. These may include for instance the assessment of provision for doubtful debts, revaluation of assets and net market movements in investments. These are recognised as they become known.

Operating surpluses achieved during the first half of the financial year stemmed from the recognition of a full years worth of general rates revenue brought to account during July. As expenses in months after this were generally higher than revenue brought to account, the surplus achieved early in the financial year deteriorated. This trend is expected to occur over the next five months.

(2b) As part of the budget and monthly reporting process, estimated results for the

1998-99 financial year will be reviewed. At this stage projections remain largely

consistent with original budget estimate. There are no "major events" expected in future

months.

(2c) $4.152m in abnormal expenses identified in the projection are represented by the

following items incurred, or to be incurred by Totalcare.

Replacement IT systems and Y2K Programmes 500

Separations, Restructuring and Redeployees 3,152

Implosion Inquiry 500

Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .