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Legislative Assembly for the ACT: 2013 Week 14 Hansard (26 November) . . Page.. 4209..


ACTEW Corporation Ltd. Members may recall that when I tabled the original statement of corporate intent in the Assembly on 6 August this year I foreshadowed that ACTEW would provide a modified statement to reflect the impact of the final pricing determination for water and wastewater services. I also indicated that the modified statement of corporate intent was likely to be tabled in November.

The original 2013-14 statement of corporate intent was prepared before the release of the ICRC's pricing determination for water and wastewater services that was issued on 26 June 2013. As a consequence, the original statement of corporate intent stated that the financial measures would be subject to material change once the ICRC pricing impacts had been properly evaluated.

The financial projections that were included in ACTEW's original statement of corporate intent were identical to those that appeared in the 2013-14 budget. The estimated financial impact in 2013-14 is a dividend reduction of $22.4 million and $10.1 million less in tax payments. These financial impacts will be reflected in the budget mid-year review that will be released in early 2014. I commend ACTEW's modified statement of corporate intent to the Assembly.

Paper

Mr Barr presented the following paper:

Annual Reports (Government Agencies) Act, pursuant to section 13—Annual Reports 2012-2013—Independent Competition and Regulatory Commission, Corrigendum dated November 2013.

Financial Management Act—consolidated financial report

Paper and statement by minister

MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development, Minister for Sport and Recreation, Minister for Tourism and Events and Minister for Community Services): 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 2013.

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

Leave granted.

MR BARR: I present to the Assembly the September quarter 2013 consolidated financial report for the territory. This report is required under section 26 of the Financial Management Act. The September quarter headline net operating balance for the general government sector was a surplus of $145.6 million.

This result was $14.9 million lower than the year-to-date budget of $160.5 million. Total revenue for the GGS for the quarter to 30 September 2013 was $1,269.2 million.


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