February 2008 report to the Legislative Assembly
Report to the Legislative Assembly; Reports; PublicationNT
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Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals
Northern Territory Auditor-General's Office
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Auditor-General for the Northern Territory February 2008 Report 31 0 5 10 15 20 25 30 35 40 45 2003-04 2004-05 2005-06 2006-07 Pe rc en ta ge Analysis of the Treasurers Annual Financial Statement cont A decline in net financial worth, due largely to the increase in the value of unfunded superannuation liabilities. An increase in net worth as a result of the increase in the net carrying amounts of non-financial assets. The continued improvement in the Total Public Sector Net Debt position represents a continuation of a pattern that has emerged since the adoption of a fiscal strategy by the Government. This improvement is illustrated in Figure 5, below: Figure 5 Total Public Sector Net Debt as Percentage of Total Revenue From a public finance perspective, the trend in the public sectors net debt position is appropriate. One widely used argument in favour of reducing debt levels is linked to the accompanying reduction in the cost of debt servicing. However, there is also a strong case for ensuring that the Territory ensures that it has adequate borrowing capacity that would permit it to assume higher levels of debt in future years to finance the replacement of the existing stock of fixed assets, but without placing a significant burden on future budgets.
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