Page 3988 - Week 13 - Tuesday, 25 November 2014

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Health (National Health Funding Pool and Administration) Act, pursuant to subsection 25(4)—Administrator of the National Health Funding Pool—Annual Report 2013-14, dated 28 October 2014.

Financial Management Act—consolidated annual financial statements 2013-2014

Paper and statement by minister

MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development, Minister for Housing and Minister for Tourism and Events): For the information of members, I present the following paper:

Financial Management Act, pursuant to section 25—Consolidated Annual Financial Statements, including audit opinion—2013-2014 financial year, dated 27 and 30 October 2014.

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

Leave granted.

MR BARR: I present to the Assembly the 2013-14 consolidated annual financial statements for the territory. I am pleased to report that the consolidated statements received an unqualified audit opinion from the Auditor-General on 30 October 2014. The final 2013-14 headline net operating balance for the general government sector is a reduced deficit of $187.8 million. This represents a $77.6 million decrease in the forecast estimated outcome deficit. As a result of the findings during the audit process the headline net operating balance increased by approximately $10.1 million when compared to the June interim result. This variation was mainly due to the recognition of additional gains from contributed assets identified during the audit process.

The key financial indicators in the balance sheet remained strong. Overall there was a small decrease in the territory’s balance sheet mainly due to an increase in the superannuation liability, factors that were discussed in question time, and an increase in borrowings to fund the territory’s infrastructure program. The next update to the territory’s financial position will be released with the mid-year budget review, which will be released early in 2015.

The financial statements I present today have been prepared in accordance with Australian accounting standards and are in line with the requirements of the Financial Management Act 1996. I commend these consolidated statements for the territory and the audit opinion to the Assembly.

Financial Management Act—consolidated financial report

Paper and statement by minister

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