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Legislative Assembly for the ACT: 2002 Week 7 Hansard (6 June) . . Page.. 2098 ..
General rates
(Question No 179)
Mr Humphries asked the Treasurer, upon notice on 4 June 2002:
(1) What is the quantum of general rates collected in the ACT for the current financial year as at 31 March 2002?
(2) Is the quantum of general rates collected as at 31 March 2002 greater or less than the estimates prepared for the 2001 ACT Budget?
(3) What has been the trend in the payment of general rates during the period between 1 October 2001 and 31 March 2002?
(4) How has this pattern of payment of general rates varied from the same period in the previous financial year?
(5) What has been the basis for any changes in the pattern of payments of general rates between this and the previous financial year?
Mr Quinlan: The answer to the member's question is as follows:
Please note: answers are written in respect of Consolidated Financial Statements for the General Government Sector
(1) The total amount of general rates revenue collected in the ACT, as at 31 March 2002, was $107.1m.
(2) The 2001 ACT Budget forecast general rates, totalling $104.9m, to be collected as revenue during the 2001-02 financial year. As at 31 March 2002, collections of $107.1m represented 102% of the original budget estimate (100% of the estimated outcome).
(3) Total general rates, as at 1 October 2001 was $104.5m. Revenue from General rates is recognised at the commencement of the financial year. Adjustments during the year reflect updates to end of year projections.
(4)
General Rates | Oct | Nov | Dec | Jan | Feb | Mar | |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | ||
2000-01 | Month | 160 | (188) | - | - | 802 | 54 |
YTD | 101,570 | 101,382 | 101,382 | 101,382 | 102,184 | 102,238 | |
% of Audited Outcome | 97% | 97% | 97% | 97% | 98% | 98% | |
2001-02 | Month | 20 | 233 | (509) | 2 | (3,729) | 6,538 |
YTD | 104,543 | 104,776 | 104,267 | 104,269 | 100,540 | 107,078 | |
% of Est Out | 98% | 98% | 97% | 97% | 94% | 100% | |
The table above indicates the pattern of revenue from the two periods. General rates revenue is generally recorded in full in July each year.
(5) There has been no significant change in pattern between the financial years.
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