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 29 Analysis of the Treasurers Annual Financial Statement cont $million Capital expenditure as part of the capital program 411.6 Investment in financial assets for both liquidity and policy purposes 257.5 Repayment of net deposits, and other financing cash flows 148.0 Increase in holdings of cash and deposits 56.9 Total 874.1 Note: Totals may not add due to rounding. Financial Position The three measures of financial position employed by the UPF were outlined previously under Introduction. The Territorys Net Debt position as at 30 June 2007 improved significantly when compared with the prior year. The improvement of $241.7 million resulted from increased holdings of cash, and investments, loans and placements. A significant part of the increase in investments is the result of a decision by the Government to set aside an amount of $150 million to meet the emerging liability for superannuation, with those funds being held as part of the Conditions of Service Reserve. Emerging superannuation costs are expected to place an increasing burden upon the Territorys budget over the next decade and the decision to establish a fund will permit a portion of the emerging costs of superannuation to be met from a pool of investments rather than by attempting to meet the costs from revenues at the time. This may go some way to avoiding a need to impose costs upon future taxpayers in the form of either higher taxes, increased borrowings or constrained services. The components of the changes in each of the measures of financial position for the year are summarised in Table 3, below:


Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.