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Legislative Assembly for the ACT: 2002 Week 10 Hansard (29 August) . . Page.. 3046..


Capital works program

Paper and statement by minister

MR QUINLAN (Treasurer, Minister for Economic Development, Business and Tourism, Minister for Sport, Racing and Gaming and Minister for Police, Emergency Services and Corrections): Mr Speaker, for the information of members, I present the following paper:

2001-02 Capital Works Program-Progress Report-June quarter.

I seek leave to make a short statement.

Leave granted.

MR QUINLAN: The report provides detailed information on the progress of expenditure on all projects included in the 2001-02 capital works program. The report incorporates quarterly and full-year expenditure information on all projects included in the 2001-02 capital works program. It also identifies all variations to the program and presents all information at the project level according to departmental responsibility.

The original budget for 2001-02 capital works was $140.307 million. In addition to this amount, departments are carrying forward deferred financing and underspent funds from previous years of approximately $25 million. With the inclusion of these funds, the level of financing available for expenditure at the beginning of the financial year was $165.495 million.

Several project variations and substitutions occurred during the year to address potential project delays, which with other revisions had the net effect of a reduction of $6.292 million.

As part of the 2002-03 budget process, several project delays were also identified, with a total of $36.311 million. The estimated outcome for 2001-02 was revised to $122.892 million at the time of the 2002-03 budget.

Departments have incurred expenditure on capital works totalling $42.775 million during the June quarter. This takes the full-year expenditure to $110.964 million, a variation of $11.928 million on the revised budget forecast.

The total net underspend for this year was therefore $48.329 million, of which $9.569 million is attributable to projects savings. This government will take the credit for the savings and blame the previous government for the delays.

Major projects completed in 2001-02 are detailed within the report.

Mr Speaker, I commend the 2001-02 capital works program end-of-year report to the Assembly.


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