Corrigendum Treasurer’s Annual Financial Statement Minor Corrections to pages 19, 29 and 43
Tabled paper 894
Tabled Papers for 9th Assembly 2001 - 2005; Tabled Papers; ParliamentNT
Tabled By Speaker
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k REPORT ON THE 2001/02 TREASURERS ANNUAL FINANCIAL STATEMENT Financial Condition of the Territory based7 on- assessment of the ' Governments Core Fiscal Strategies - actual outcomes analysis FLEXIBILITY - there are five measures to consider. Chart F .l: Five year trend in net debt to total revenues where both are based on the UPF NFPS basis (Sch. 7.8 o f the TAFR) 1997/98 8 M M H B H l 7 5 . o % 1998/99 m s m a ta m T L o % 1999/2000 y : I 2000/01 H 2001/02 J Five year trend in net debt to total revenues based on the UPF NFPS (Schedule 7.8 of the TAFR) - Net debt is now 77.8% of Territory revenue. The large increase is due to the 2001/02 deficit. This trend requires monitoring. Chart F.2: Five year trend in own source revenue to the NT's GSP based on the UPF; GGS (Schedule 7.6 o f the TAFR) 1997/98 5.5% 1998/99 1999/2000 Chart F.3: Five year trend in own source revenue to total revenues based on the UPF GGS (Schedule 7.6 o f the TAFR) 1 1997/98 1998/99 1999/2000 2000/01 2001/02 19.5% 17 5 '/ 18.3% Five year trend in own source revenue to the Northern Territorys GSP based on the UPF GGS (schedule 7.6 of the TAFR) - This decrease is largely due to Commonwealth taxation reforms and the resulting changes to own-source revenues and Commonwealth grants. Five year trend in the own source revenue to total revenue based on the UPF GGS (Schedule 6.6 of the TAFR) - The decrease should be of concern to the Government and is due to dropping interest earned, caused by lower financial assets and lower interest rates, little growth in taxation revenues and a halving in recent years in dividends received from Public Financial and Public Non-Financial corporations. Auditor-General for the Northern Territory 29