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Legislative Assembly for the ACT: 2014 Week 13 Hansard (Tuesday, 25 November 2014) . . Page.. 3989 ..

Financial Management Act, pursuant to section 26—Consolidated Financial Report—Financial quarter ending 30 September 2014.

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

Leave granted.

MR BARR: I present to the Assembly the September quarter 2014 consolidated financial report for the territory. This report is required under section 26 of the Financial Management Act 1996. The September quarter headline net operating balance for the general government sector was a surplus of $191.2 million. This result was $35.1 million lower than the year-to-date budget of $226.4 million. Total revenue for the general government sector for the quarter to 30 September 2014 was $1.3591 billion. This is $30.6 million lower than the September year-to-date budget figure of $1.3896 billion.

The major variations in total revenue include lower than expected gains from contributed assets of $26.1 million, this being associated with the timing of the transfer of assets from the Land Development Agency and from external developers and lower than expected commonwealth grants revenue of $12.9 million due to the timing of payments from the commonwealth.

Total expenses of $1.199 billion were broadly in line with the year-to-date budget of $1.1917 billion. The GGS balance sheet remains strong, represented by key indicators such as net financial liabilities and net worth. I commend the September quarterly report to the Assembly.

Financial Management Act—instruments

Papers and statement by minister

MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development, Minister for Housing and Minister for Tourism and Events): For the information of members, I present the following papers:

Financial Management Act—Instruments, including statements of reasons, pursuant to—

Section 16B—Instrument authorising the rollover of undisbursed appropriation of the Legal Aid Commission (ACT), dated 4 November 2014.

Section 19B—Instrument varying appropriations related to the Education and Training Directorate, dated 28 October 2014.

I ask leave to make a statement in relation to the papers.

Leave granted.

MR BARR: As required by the Financial Management Act 1996, I table two instruments issued under sections 16B and 19B of the FMA. Advice on each instrument’s direction and a statement of reasons must be tabled in the Assembly within three sitting days after it is given.

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