Legislative Assembly for the ACT: 2010 Week 13 Hansard (16 November) . . Page.. 5452..
MS GALLAGHER: Section 16B of the Financial Management Act relating to rollover of undisbursed appropriation allows for appropriations to be preserved from one financial year to the next as outlined in the instruments signed by me as Treasurer. As required by the act, I table a copy of a recent authorisation made to roll over undisbursed appropriation from 2009-10 to 2010-11.
This package includes one instrument for one project signed under 16B. The appropriation being rolled over was not disbursed during 2009-10 and is still required in 2010-11 for the completion of the project identified in the instrument. The instrument authorises a total of $94,000 of capital injection appropriation to be rolled into 2010-11 for the Department of Territory and Municipal Services. The rollover is required for the Canberra CBD upgrade program which was delayed due to consultation outcomes.
This rollover is being made as the appropriation clearly relates to project funds where commitments have been entered into but the related cash was not required or expended during the year of appropriation, for example, where capital works projects or initiatives for which the timing of delivery has been changed or delayed, where outstanding contractual or pending claims exist or where there are delays in implementing budgeted recurrent initiatives.
Specific details regarding the rollover are included in the instrument and I commend these papers to the Assembly.
Financial Management Act—consolidated financial report
Paper and statement by minister
MS GALLAGHER (Molonglo—Deputy Chief Minister, Treasurer, Minister for Health and Minister for Industrial Relations) (3.25): For the information of members, I present the following paper:
Financial Management Act, pursuant to section 26—Consolidated Financial Report—Financial quarter ending 30 September 2010.
This report was circulated to members when the Assembly was not sitting. I seek leave to make a statement in relation to the paper.
MS GALLAGHER: I present to the Assembly the September quarter 2010 financial report for the territory. This report is required under section 26 of the Financial Management Act. The September quarter 2010 results are in line with expectations, presenting a headline net operating balance for the general government sector of a $107.3 million surplus against a year-to-date budgeted surplus of $108.8 million.
The strong September year-to-date result is in line with previous September quarters and is significantly influenced by the full year recording of general rates in the first quarter in line with accounting practice.