Budget 2012-2013 Budget Paper No.3 The Budget
Tabled paper 1785
Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT
Tabled By Delia Lawrie
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1 Overview The 201213 Budget is an accrual outputbased budget prepared in accordance with the Territorys fiscal management legislation and framework. Budget Paper No. 3 provides detailed information on the budgets of Northern Territory Government agencies and business divisions, and focuses on the services and outputs delivered across Government. The information provided in BudgetPaperNo.3 for 201112 and 201213 encompasses: agency expenses and appropriation amounts; agency profiles, strategic issues and budget highlights; description of variations between years; output statements for agencies and business line statements for government business divisions, including key deliverables and estimates; accrual financial statements (Operating Statement, Balance Sheet and Cash Flow Statement); community service obligation payments to government business divisions and government owned corporations; and a summary of revenue received by the Central Holding Authority, agencies and government business divisions. The legislative basis for the 201213 Budget and the Territorys financial management framework is explained below. Legislative Basis Two principal Acts combine to form the framework for the management of the Territorys financial resources and ensure that the range of accountability requirements are satisfied: Fiscal Integrity and Transparency Act whole of government reporting requirements; and Financial Management Act agency and government business division accountability requirements. These Acts are supplemented by the annual Appropriation Act, which provides legal authority for the Governments funding decisions. Fiscal Integrity and Transparency Act The Fiscal Integrity and Transparency Act (FITA) requires the reporting of the budget and forward estimates on the basis of external reporting standards. The reporting standard used in the Northern Territory is the Uniform Presentation Framework as agreed by states, territories and the Commonwealth. This is based on AASB 1049 Whole of Government and General Government Sector Financial Reporting. The 201213 Budget is presented in accordance with the FITA. Financial Management Act The Financial Management Act (FMA) provides a financial framework within which the Territory Government as a whole, agencies and government business divisions operate and manage resources. Budget Paper No.3 covers agencies and government business divisions that are subject to the FMA and included in the Territorys budget sector. The FMA provides the rules that govern the monitoring and management of the budgets for each agency and government business division during the year. In this regard, the
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