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Legislative Assembly for the ACT: 1995 Week 11 Hansard (14 December) . . Page.. 3136 ..
LEGISLATIVE ASSEMBLY QUESTION
Question No. 121
Monthly Financial Statements - Reconciliation of Information
"In relation to the Treasurer's Monthly Financial Statement for the month of September and the year to date period ending 30 September 1995 - What is the reconciliation between the GFS format and the Consolidated Fund for the period ending 30 September 1995 for each "Appropriation Unit" or Revenue category."
MRS CARNELL - The answer to the Member's question is as follows:
"The reconciliation of the GFS to Consolidated Fund information presented in the Treasurer's Monthly Financial Statement, at the level sought by Ms Follett, would involve a considerable commitment of time and resources. The task involves an extensive manual translation process as budget and reporting information and systems have been structured to GFS presentations only, as agreed by the previous Labor Government.
For the first time, Budget information is provided on a monthly basis to the Assembly and the Community, compared to quarterly reporting in the past. Consolidated Fund information is provided to supplement the GFS budget information.
Page 219 of Budget Paper No. 3 provides the basis for the reconciliation of GFS information to the Consolidated Fund (for the deficit only) and this was provided to assist the Assembly moving from the old to the new presentation formats.
To provide lower level reconciliation is considered unrealistic, and contrary to the direction agreed between States and Territories in moving to the uniform GFS reporting arrangements."
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