Page 1113 - Week 05 - Tuesday, 29 May 2007

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Today, I have presented five long-term contracts, three short-term contracts and seven contract variations. The details of the contracts will be circulated to members.

Consolidated financial report

Paper and statement by minister

MR STANHOPE (Ginninderra—Chief Minister, Treasurer, Minister for Business and Economic Development, Minister for Indigenous Affairs, Minister for the Environment, Water and Climate Change, Minister for the Arts): For the information of members, I present the following paper:

Financial Management Act, pursuant to section 26—consolidated financial report for the financial quarter and year-to-date ending 31 March 2007.

I ask for leave to make a statement in relation to the paper, which was circulated to members when the Assembly was not sitting.

Leave granted.

MR STANHOPE: Mr Speaker, I have presented to the Assembly the March quarter financial report for the territory. This report is required under section 26 of the Financial Management Act.

At the end of March 2007, the net operating balance for the general government sector was a surplus of $16.1 million. The result was marginally higher than anticipated, mostly due to conveyance revenue from several large commercial transactions. The favourable revenues were partially offset by an increase in insurance provision relating to actuarial adjustments for past medical malpractice liabilities and claims arising from the 31 December 2006 and 27 February 2007 hailstorms.

The outcome for the March quarter year-to-date was $58.5 million higher than the estimated outcome deficit of $42.5 million published in the 2006-07 budget mid-year review. I commend the report to the Assembly.

Cultural Facilities Corporation

Paper and statement by minister

Cultural Facilities Corporation Act, pursuant to subsection 15 (2)—Cultural Facilities Corporation—quarterly report 2006-2007 (1 October to 31 December 2006).

I ask for leave to make a statement in relation to the paper.

Leave granted.

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