Page 3263 - Week 11 - Tuesday, 13 November 2007
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identified in the 2006-07 budget papers; $0.5 million for stage 1 of the sustainable transport initiative and $0.5 million from the knowledge fund resulting from identified fund recipients having not met agreed milestones in 2006-07.
Significant rollovers impacting payments on behalf of the territory include: $0.7 million relating to undispersed non-ACT government school grants and $1.5 million to maintain the balance of the fund retained by the superannuation provision account for the settlement of outstanding Totalcare superannuation liabilities.
Significant capital injection rollovers include: $2.2 million for schools infrastructure refurbishments where funds have been committed, but the necessary work not completed during 2006-07; $3.4 million for the smart school, smart student project due to delays in recruiting the project team; $2.9 million for the investing in our schools program, which was delayed by ongoing changes in line with Australian government grant guidelines and $3.1 million for various projects funded under the Australian government Department of Education, Science and Training infrastructure program which have experienced implementation delays.
Details relating to these and the remaining rollovers are provided in the instruments. This is the first time this new provision has been used. The provision is a result of recent amendments to the FMA, which demonstrated the government’s commitment to effective and strong financial management.
In recent years these amounts would have, in all probability, been drawn into agencies’ accounts and kept until such time as expenditure occurred. The cash management reforms have, however, stopped agencies accumulating too much cash. This provision allows us to decide on a case-by-case basis what should be rolled from one financial year to the next. It provides much stronger controls, accountability and transparency over appropriations. This has allowed the government to more effectively manage cash from year to year. This is another example of the government’s commitment to strong financial management. I commend these papers to the Assembly.
Financial Management Act—instrument
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 18A—Authorisation of Expenditure from the Treasurer’s Advance to the Chief Minister’s Department, including a statement of reasons, dated 26 October 2007.
I ask leave to make a statement in relation to the paper.
Leave granted.
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