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February 2008 report to the Legislative Assembly



February 2008 report to the Legislative Assembly


Report to the Legislative Assembly; Reports; PublicationNT




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






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

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Northern Territory Auditor-General's Office

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Auditor-General for the Northern Territory February 2008 Report 47 Analysis of the Treasurers Annual Financial Statement cont As can be seen from the preceding table, revenues of the CHA grew strongly, increasing by $180.1 million for the year (compared with $203.4 million for the prior year). The principal contributors to the increased CHA revenue were: GST revenue, which increased by $165.2 million to $2,015.3 million; and interest revenue which increased by $13.7 million to $32.5 million. Taxation revenue recognised by the CHA declined by $4.9 million when compared with 2005-06. However, this decline reflects the receipt during 2005-06 of an extraordinary amount of $47.5 million in stamp duty that had been assessed, but which was the subject of appeal by the taxpayer. In decisions brought down by the Supreme Court of the Northern Territory in February and in December 2007 the taxpayers appeal was allowed and an amount received previously, plus interest, was refunded to the taxpayer during the current financial year. Output expense incurred by the CHA increased $54.2 million when compared with the prior year, while superannuation expenses increased by $313.5 million, largely as a result of the revaluation of the General Government Sectors liability for unfunded superannuation. The cash position of the CHA at 30 June 2007 was stronger than for the prior year. Among the factors that affected the year-end cash position were: an increase in cash received from the Commonwealth ($158.5 million); and increased cash inflows from royalties, rents and dividends ($19.3 million). with these being offset by: increased output payments ($54.2 million); increased superannuation benefit payments ($11.0 million); and lower cash inflows from deposits received ($108.9 million). The CHAs cash flows for the year are summarised in Table 9: