Legislative Assembly for the ACT: 2017 Week 02 Hansard (Tuesday, 14 February 2017) . . Page.. 396 ..
Auditor-General Act, pursuant to section 17(5)—Auditor-General’s Reports Nos—
11/2016—2015-16 Financial Audits—Financial Results and Audit Findings, dated 21 December 2016.
1/2017—WorkSafe ACT’s management of its regulatory responsibilities for the demolition of loose-fill asbestos contaminated houses, dated 20 January 2017, together with a corrigendum to the Report.
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) (3.42): 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 2016.
I ask leave to make a statement in relation to the paper.
MR BARR: I present to the Assembly the December quarter consolidated financial report for the territory. This report is required under section 26 of the Financial Management Act 1996.
The December quarter headline net operating balance for the general government sector was a surplus of $139.7 million. This result was a $58.5 million improvement on the year-to-date budget surplus of $81.1 million. I can advise the Assembly that total revenue for the general government sector for the quarter to 31 December 2016 was $2,687.5 million. This is $15.5 million higher than the December year-to-date budget of $2,672 million. This is mainly due to regulatory fees and one very large conveyance revenue, for the interest of members, for the sale of 50 per cent of Woden plaza.
Total expenses were $47.1 million lower than the December year-to-date budget. Total expenses were $2,629.2 million. The year-to-date budget was $2,676.3 million. So revenue is up $15.5 million, expenses are $47.1 million lower, and the net operating balance for the general government sector is a surplus of $139.7 million, a $58.5 million improvement on the year-to-date budget surplus that was anticipated to be $81.1 million. The decrease in expenses was mainly due to lower than anticipated supplies and services of $43.8 million. This is associated with the timing of repairs and maintenance expenditure.
I am pleased to advise the Assembly that the general government sector balance sheet remains strong, represented by key indicators such as net financial liabilities and net worth. I commend the December quarter 2016 report to the Assembly.