Territory Stories

February 2008 report to the Legislative Assembly

Details:

Title

February 2008 report to the Legislative Assembly

Collection

Report to the Legislative Assembly; Reports; PublicationNT

Date

2008

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Notes

Date:2008-02

Language

English

Subject

Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Auditor-General's Office

Place of publication

Darwin

ISSN

1323-7128

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/223559

Citation address

https://hdl.handle.net/10070/686148

Page content

Auditor-General for the Northern Territory February 2008 Report 23 -40 -20 0 20 40 60 80 100 120 Vic NSW Qld SA WA Tas Av. State NT Pe rc en ta ge o f T ot al R ev en ue Analysis of the Treasurers Annual Financial Statement cont However, the Northern Territory continues to lag other jurisdictions in terms of its financial position. This is illustrated in Figure 3 which shows the Net Debt plus unfunded superannuation liabilities as a percentage of total revenue of the respective General Government sectors of the Northern Territory and each of the Australian states: Figure 3 Comparative Net Debt Plus Unfunded Superannuation Liabilities as Percentage of Total Revenue General Government Sector As At 30 June 2007 The relatively high level of liabilities, including superannuation, suggests that the Territory will need to continue to achieve sound financial results for the foreseeable future if the overall level of liabilities is to decline to a level that approaches the average liability of the states. As already indicated, the Territory relies very heavily upon GST revenues and the amount distributed by the Commonwealth to the Territory is a function of the size of the GST pool and the relativities recommended by the Commonwealth Grants Commission.


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