Page 4573 - Week 13 - Tuesday, 26 November 2019
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valued at $804 million, as at 30 September 2019. $137 million worth of capital investment that comprises $112 million on infrastructure and $25 million on ICT and plant and equipment has been delivered in the quarter. The performance of the program as at 30 September against program funding is 17 per cent. I commend the report to the Assembly.
Question resolved in the affirmative.
Consolidated annual financial statements 2018-19
MR GENTLEMAN (Brindabella—Manager of Government Business, Minister for Advanced Technology and Space Industries, Minister for the Environment and Heritage, Minister for Planning and Land Management and Minister for Police and Emergency Services) (2.57): Pursuant to standing order 211, I move:
That the Assembly take note of the following paper:
Financial Management Act, pursuant to section 25—Consolidated Annual Financial Statements, including audit opinion—2018-2019 financial year.
MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Social Inclusion and Equality, Minister for Tertiary Education, Minister for Tourism and Special Events and Minister for Trade, Industry and Investment) (2.57): I am pleased to report that the consolidated statements received an unmodified audit opinion from the Auditor-General. The final 2018-19 headline net operating balance for the general government sector is a deficit of $118.6 million, which is a $33.5 million improvement compared to the interim outcome deficit of $152 million. This variation relates to changes during the audit process, the most significant of which is the treatment of movements in workers compensation claims provision expenses arising from changes in discount rates.
Key financial indicators in the balance sheet remain strong, with net worth of $14 billion and net debt of $2.216 billion, which is $913.6 million higher than in 2017-18. This is mainly as a result of the recognition of lease liabilities for public-private partnerships and higher other borrowings undertaken to fund the delivery of infrastructure initiatives.
The next update to the territory’s financial position will be released with the 2019-20 budget review in February 2020. The financial statements today have been prepared in accordance with Australian accounting standards and are in line with the requirements of the Financial Management Act 1996. I commend the consolidated annual financial statements for the territory and audit opinion to the Assembly.
Question resolved in the affirmative.
Planning and Urban Renewal—Standing Committee
Report 9—government response
MR GENTLEMAN (Brindabella—Manager of Government Business, Minister for Advanced Technology and Space Industries, Minister for the Environment and
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