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Legislative Assembly for the ACT: 2012 Week 1 Hansard (14 February) . . Page.. 79..


effective feedback mechanisms in place, the government will bring these exemplars together and build on their expertise as a way to spread a consistent model covering practice and attitudes across the service.

I thank both the Auditor-General and the committee for their input on this issue.

Question resolved in the affirmative.

Papers

Ms Gallagher presented the following papers:

Annual Reports (Government Agencies) Act, pursuant to section 13—Annual Report 2010-2011—Commissioner for Public Administration—Addendum.

Gene Technology Act, pursuant to subsection 136A(3)—Operations of the Gene Technology Regulator—Quarterly reports—

1 April to 30 June 2011, dated 30 September 2011.

1 July to 30 September 2011, dated 21 November 2011.

Financial Management Act 1996

Paper and statement by minister

MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development and Minister for Tourism, Sport and Recreation) (3.41): For the information of members, I present the following paper:

Financial Management Act, pursuant to section 26—Consolidated Financial Report—Financial quarter ending 31 December 2011.

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

Leave granted.

MR BARR: I present to the Assembly the December quarter 2011 consolidated financial report for the territory. This report is required under section 26 of the Financial Management Act. The December quarter headline net operating balance for the general government sector was a deficit of $59.9 million. This result was $12.1 million lower than the year to date budgeted deficit of $47.8 million. This lower result is mainly due to the net impact of lower than forecast taxation revenue and underperformance of superannuation-related equity investments, partially offset by better than expected interest returns. Total expenses were broadly in line with the year-to-date budget.

On an AAS basis, the general government sector recorded a deficit of $174.3 million, compared to a year-to-date budgeted deficit of $17.8 million. This deficit is due to a net loss on financial assets resulting from falls in global equity markets.


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