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
Fiscal and Economic Outlook _________________________________________________________________________________________________ 7 GENERAL GOVERNMENT Operating Revenue Since the Mid-Year Report in February 2002, taxation revenue has increased by $10 million, comprising a $7 million increase in stamp duty revenue and $2 million in pay-roll tax. This increase is due to increased economic activity, rather than an increase in rates, with additional stamp duty related largely to large one-off transactions. Current grants and subsidies revenue has increased by $29 million since the Mid-Year Report, $14 million of which relates to changes in GST revenue. The variations in GST revenue throughout 2002-03 have served to demonstrate that these revenues are not only the ones on which the Territory is most reliant, but are also the most volatile. Prior to the Mid-Year Report, the estimates were revised to take account of lower population growth. Since the Report, further changes to GST revenue have been as a result of the population re-basing following the outcome of the 2001 Census (-$20 million) and the revisions to the GST pool included in the Commonwealth Budget on 13 May (+$34 million). The increase in the GST revenue as a result of the Commonwealth Budget includes an overpayment of $17.5 million for budget balancing assistance paid, but not required, in 2002-03. This is discussed in more detail later in Chapter 6. The balance of the increase in grants and subsidies revenue is a result of increased specific purpose payments (SPPs) of $14 million. The majority of this relates to revenue in the Department of Health and Community Services ($9.8 million) for various SPPs, including the Commonwealth States and Territories Disability Agreement, Home and Community Care and reimbursement of costs related to the Bali bombing. The balance of the increase is a result of small increases across a number of agencies. Capital grants have increased by $6 million due to an increase in ANTA funding of $4 million and National Highways funding of $2 million. The remaining increase in Operating Revenue is a result of increased dividends of $17 million from Northern Territory Treasury Corporation, to return its cash balances to usual levels and will be used to reduce general government gross debt. Operating Expenses The increase in operating revenue was offset by an increase in operating expenses of $46 million. Employee expenses have increased during the year by $63 million and to a large degree reflect the refinement of accrual based estimates. The largest factor contributing to this increase is an accrued expense of $40 million relating to the 27th pay which falls in 2003-04, a once in every 12 or so year event. In a usual year, accrued salaries would be relatively constant, however, with 27 pays occurring in 2003-04, there is an accrued expense in 2002-03 of eight working days, but the corresponding accrual in 2003-04 equates to only two days. As a result there is almost no difference in employee expenses between the two years. On a cash basis, as the 27th pay actually occurs in 2003-04, the cash effect of an extra pay will be seen in that year. Another contribution to the overall increase in employee expenses is $12 million in additional funding for employee expenses provided to the Department of Health and Community Services since the preparation of the Mid-Year Report. The balance of the variation relates to an increase of $4 million in Education, largely a result of the Enterprise Bargaining Agreement, and a range of other minor variations across agencies. Capacity for this increase was held in Treasurers Advance at the time of the 2002-03 Budget but not attributed to employee expenses.