Territory Stories

Budget 2011-12 Budget Paper No.3 The Budget

Details:

Title

Budget 2011-12 Budget Paper No.3 The Budget

Other title

Tabled paper 1279

Collection

Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT

Date

2011-05-03

Description

Tabled By Delia Lawrie

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/277286

Citation address

https://hdl.handle.net/10070/424039

Page content

65 Central Holding Authority Overview The Central Holding Authority (CHA) records, on behalf of the Territory: assets, which are not assigned to agencies, such as the Territorys investment portfolio; liabilities, where it is not practical or effective to assign them to individual agencies. The CHA has two major liabilities Territory borrowings and unfunded employee liabilities. Territory borrowings comprise the stock of general government debt that has accumulated since SelfGovernment and has been used to fund major infrastructure in the Territory over this period. Unfunded employee liabilities are those that have accrued but are not yet due to be paid, such as superannuation and long service leave; revenue classified as Territory revenue. The main categories are taxation, fines revenue, untied grants (predominantly GST revenue) and National Partnership (NP) and SpecificPurpose Payments (SPPs) from the Commonwealth; and expenses, limited to those managed on behalf of the Territory. The main expense is appropriation to agencies. Other expenses are interest on Territory borrowings, interest on cash balances of government businesses and superannuation and long service leave costs. Appropriations from Central Holding Authority The Appropriation Act provides the CHA with the authority to pay appropriations for purposes. The main purposes are output, capital and Commonwealth. Output appropriation is the operating payment to each agency for the outputs they provide. Capital appropriation is the payment for capital investment. Capital works for most general government agencies are centrally managed by the Department of Construction and Infrastructure, which receives a capital appropriation for the capital works that it manages on behalf of other agencies. General government agencies also receive capital appropriation for capital items and payments of advances. Commonwealth appropriation relates to SPP and NP payments being made by the Commonwealth Treasury to state treasuries, in a manner similar to arrangements for GST payments. These payments are received by Treasury on behalf of the CHA and then onpassed to the relevant agencies as Commonwealth appropriation. Other appropriation purposes include those paid for employee entitlements, interest, taxes, other administrative payments and Treasurers Advance. Most revenue received by the Territory is recorded in the CHA Operating Statement including GST revenue, SPPs, NPs and Territory taxes. Funds are provided to agencies as output appropriation, capital appropriation or Commonwealth appropriation, which can be for output or capital purposes. Output appropriation is recorded in the Operating Statement whereas capital appropriation is recorded in the Cash Flow Statement.