Budget 2016-2017 Budget Paper No.3 Agency Budget Statements
Tabled paper 1766
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
Tabled by David Tollner
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.
Department of the Treasury and Finance
1 Overview Budget Paper No. 3 provides accrual and outputbased information for Northern Territory Government agencies and business divisions for 2015-16 and 2016-17, including: agency profiles, strategic issues and budget highlights; expense and appropriation amounts, including explanations of material variations; fulltime equivalent staffing information based on the March quarter average 2016; output statements for agencies and business line statements for government business divisions (GBDs), including key performance indicators; financial statements (Operating Statement, Balance Sheet and Cash Flow Statement) and revenue statements; and a summary of community service obligation payments to GBDs and government owned corporations. The 201617 Budget is prepared in accordance with the Territorys financial management legislation and framework, which is summarised below. Financial Management Legislation The Territorys financial management framework, including accountability requirements, is established by the: Fiscal Integrity and Transparency Act (FITA), which prescribes whole of government financial reporting requirements; and Financial Management Act (FMA), which sets out agency and GBD financial accountability requirements. These Acts are supplemented by the annual Appropriation Act, which provides the legal authority for the Governments funding decisions. Fiscal Integrity and Transparency Act The FITA requires the reporting of the budget and forward estimates in accordance with external reporting standards. The reporting standard used in the Territory is the Uniform Presentation Framework, agreed by state, territory and Commonwealth governments. This is based on AASB 1049 Whole of Government and General Government Sector Financial Reporting. Financial Management Act The FMA provides a financial framework within which Territory Government agencies and GBDs operate and manage resources. Budget Paper No. 3 covers agencies and GBDs subject to the FMA and included in the Territorys budget sector. The FMA provides the rules for budget monitoring and management for each agency and GBD, including accountability processes for budget variations arising from unforeseen circumstances or where government functions are redistributed between agencies. The FMA also specifies agency and GBD internal control requirements, asset safeguarding, financial transaction and bank account rules, and financial reporting obligations. Government owned corporations, such as the Power and Water Corporation, Jacana Energy and Territory Generation, are not included in Budget Paper No. 3 as they are subject to the Government Owned Corporations Act.
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