Page 4966 - Week 11 - Thursday, 21 October 2010

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accordance with Generally Accepted Accounting Principles (GAAP) and the requirements of the Financial Management Act 1996, the Annual Reports (Government Agencies) Act 2004, and the Chief Minister’s Annual Report Directions (which are endorsed by the Standing Committee on Public Accounts each year). Reports for 2009-10 will be tabled shortly in accordance with established procedures.

Finance—government assets and liabilities
(Question Nos 1161 and 1162)

Mr Seselja asked the Attorney-General and Minister for Police and Emergency Services, upon notice, on 26 August 2010:

(1) For each portfolio area, what were the top ten assets as at 30 June 2010 and what was their value, broken down by specific asset, not asset class.

(2) What were the top ten liabilities as at 30 June 2010 and what was their value, broken down by each specific liability.

Mr Corbell: The answer to the member’s question is as follows:

The Government does not account for assets and liabilities by portfolio. Details of the assets and liabilities are published in agency financial statements in accordance with Generally Accepted Accounting Principles (GAAP) as required by the Financial Management Act 1996. Under GAAP, departments are required to disclose their assets and liabilities by output class where it is feasible to do so. Annual Reports for 2009-10, which include agency financial statements, will be tabled shortly in accordance with established procedures.

Finance—government assets and liabilities
(Question Nos 1163 and 1164)

Mr Seselja asked the Minister for the Environment, Climate Change and Water and Minister for Energy, upon notice, on 26 August 2010: