Northern Territory budget papers 2003 - 2004
2003/04 Budget paper
Northern Territory. Department of Treasury
Northern Territory budget papers; E-Journals; PublicationNT
2003-05-29
Made available via the Publications (Legal Deposit) Act 2004 (NT).; Please Note: This can't be read online. Please download to read the documents
Northern Territory Budget paper No. 01 2003-04 Speech and Appropriation Bill -- Northern Territory Budget paper No. 02 2003-04 Fiscal and Economic Outlook -- Northern Territory Budget paper No. 03 2003-04 The Budget -- Northern Territory Budget paper No. 04 2002-03 Capital Works Program -- Northern Territory Budget paper No. 05 2002-03 Budget Overview -- Budget paper No. 06 2002-03 NT Economy -- Northern Territory Budget paper No. 07 2002-03 Regional Highlights -- Northern Territory Budget paper No. 08 2002-03 Building Territory Business
English
Appropriations and expenditures; Periodicals; Budget; Finance, Public
Northern Territory Government
Darwin
2003/04
application/pdf
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0/
https://hdl.handle.net/10070/591859 [LANT: E-Journals: Northern Territory Budget paper No. 01 2003-04 The Speech and Appropriation Bill]; https://hdl.handle.net/10070/591861 [LANT: E-Journals: Northern Territory Budget paper No. 02 2003-04 Fiscal and Economic Outlook]; https://hdl.handle.net/10070/591863 [LANT: E-Journals: Northern Territory Budget paper No. 03 2003-04 The Budget]; https://hdl.handle.net/10070/591865 [LANT: E-Journals: Northern Territory Budget paper No. 04 2003-04 Capital Works Program]; https://hdl.handle.net/10070/591867 [LANT: E-Journals: Northern Territory Budget paper No. 05 2003-04 Budget Overview]; https://hdl.handle.net/10070/591869 [LANT: E-Journals: Northern Territory Budget paper No. 06 2003-04 NT Economy]; https://hdl.handle.net/10070/591871 [LANT: E-Journals: Northern Territory Budget paper No. 07 2003-04 Regional Highlights]; https://hdl.handle.net/10070/591873 [LANT: E-Journals: Northern Territory Budget paper No. 08 2003-04 Building Territory Business]
https://hdl.handle.net/10070/244898
https://hdl.handle.net/10070/591861
https://hdl.handle.net/10070/591865; https://hdl.handle.net/10070/591867; https://hdl.handle.net/10070/591869; https://hdl.handle.net/10070/591871; https://hdl.handle.net/10070/591873; https://hdl.handle.net/10070/591859; https://hdl.handle.net/10070/591863
Financial Projections ________________________________________________________________________________________________ 31 revenue of around $80 million in real terms. Given there is no reason to expect this trend to vary, a reduction of $80 million has been included into 2004-05 and will flow through to future years. This decrease has been offset by the expected growth in the GST revenue pool in future years therefore the increase in 2004-05 is $50 million, with 200506 increasing by $93 million and 2006-07 by $101 million. Based on current projections, the general government sector will meet its operating balance target up to five years earlier than targeted. NET LENDING (FISCAL BALANCE) The net lending, or fiscal balance, differs from the net operating balance in that it includes net capital expenditure. In a year where the government undertakes major infrastructure works the net lending surplus (or deficit) will be significantly different to the net operating balance. Most Australian jurisdictions are moving to net lending as being their key headline measure with the target to be in balance over the economic cycle. For the Territory, it may take longer to sustain a balanced net lending position, due to the Territory being a relatively young jurisdiction and requiring increased infrastructure rather than maintaining existing levels of infrastructure as is the case in older jurisdictions. Projections in Table 4.1 show a surplus in net lending by 2005-06 however this is only possible if infrastructure spending is contained. For this reason the Territory needs to move into a sustained net operating surplus adequate to meet future infrastructure requirements. Non Financial Public Sector The projections for the non financial public sector are slightly better than those for general government due to estimated improvement in performance of this sector. PowerWater provides the greatest influence in this sector, and therefore this improved performance reflects its future expectations. TABLE 4.2: OPERATING STATEMENT NON FINANCIAL PUBLIC SECTOR 2002-03 2003-04 2004-05 2005-06 2006-07 Revised Budget Forward Estimates $M $M $M $M $M Operating Revenue 2 735 2 801 2 832 2 968 3 084 Operating Expenses 2 737 2 756 2 838 2 908 3 024 Net Operating Balance -2 45 -6 60 60 less Net Acquisition of Non Financial Assets 99 13 -5 8 5 GFS Fiscal Balance -101 32 -1 52 55 For the non financial public sector, the result for 2002-03 is almost unchanged from the general government result, with the improvement in the Budget and forward years due to the expected improvement in performance of the public non financial corporations.