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Legislative Assembly for the ACT: 1999 Week 12 Hansard (25 November) . . Page.. 3782 ..

Cashflow statement

The sale increased cash inflow from sale of fixed assets

The leaseback increased cash inflows from financing activities (ie borrowings) and increased cash outflows for the payment of interest

Midi-bus fleet

In the 1997-98 financial year, the Territory entered into a sale/leaseback of the midi-bus fleet ($6.5m). This was treated as an operating lease. This transaction had no impact on the GGS financial statements.

Capital repatriation from ACTEW

A capital repatriation of $300m from ACTEW to the General Government Sector has been budgeted for in 1999-2000. This will be invested in the Superannuation and Insurance Provision Unit.

This transaction has no impact on the operating statement, as it is a simple capital distribution. This increases cash inflow from investing receipts (ie capital distribution) on the cashflow statement, and increases both the cash balance and accumulated funds on the balance sheet.

Question 3 - 5

There have been no major one-off asset sales that have raised greater than one million dollars since the introduction of accrual accounting, or budgeted in the 1999-2000 Budget.

ACT Housing and Infrastructure and Asset Management undertake disposal of surplus assets, or replacement of obsolete housing stock as part of the ordinary course of business.

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