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Legislative Assembly for the ACT: 2018 Week 1 Hansard (13 February) . .

Page.. 64..


Canberra keeps on getting better for everyone who lives here. I commend the 2017-18 budget review to the Assembly.

Financial Management Act—consolidated financial report

Paper and statement by minister

MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Economic Development and Minister for Tourism and Major Events) (3.45): 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 2017.

I seek leave to make a statement.

Leave granted.

MR BARR: I am pleased to present to the Assembly the December quarter consolidated financial report for the territory. As I am sure members are acutely aware, this is required under section 26 of the Financial Management Act 1996. I can advise the Assembly that the December quarter 2017 headline net operating balance for the general government sector was a surplus of $149.5 million. This was a $32.6 million improvement on the budgeted surplus for this period, which was originally set at $116.9 million. This improvement mainly reflects lower expenses as the result of timing of payments for projects.

The net debt for the general government sector at the end of the calendar year 2017 was $1,545.4 million, which was a small net increase of $92.5 million from 30 June 2017. This variance is mainly due to lower cash and deposits in line with prevailing cash flow requirements.

The territory's net financial liabilities decreased by $2,891.7 million compared to 30 June 2017, largely reflecting a change in the defined benefit superannuation liability for 31 December 2017, based on a discount rate of 6 per cent, compared to 3.51 at 30 June 2017.

I also wish to advise members that the December quarter 2017 consolidated financial report for the territory includes a signed section 16B instrument under the Financial Management Act 1996 to roll over the princely sum of $401,000 in undisbursed capital injection appropriation for the Environment, Planning and Sustainable Development Directorate. This instrument was inadvertently omitted, I understand, from the September quarter 2017 consolidated financial report and so is provided today. I commend the December 2017 quarterly report to the Assembly.

Education and Care Services National Further Amendment Regulations 2017

Paper and statement by minister

MS BERRY (Ginninderra—Deputy Chief Minister, Minister for Education and Early Childhood Development, Minister for Housing and Suburban Development, Minister


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