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

98 Auditor-General for the Northern Territory February 2008 Report Department of Local Government, Housing and Sport: Territory Housing cont Territory Housing reported a net surplus of $26.03 million which is a significant improvement from prior years surplus of $1.14 million. The most significant factors contributing to current years surplus are: $25.4 million of capital grant received (of which $24.6 million was received in June 2007 for the transfer of the Indigenous Housing Program from the Department of Local Government, Housing and Sport to Territory Housing); $1.5 million increase in interest on cash balances, which is consistent with the increase in cash balances from $20.7 million in 2006 to $73.7 million in 2007; and $3.03 million increase in gain on disposal of assets and $0.57 million gain on revaluation of investments arising from higher property prices in the last 12 months as compared to prior year. The above increase in surplus is offset by $5.67 million decrease in Community Service Obligations mainly due to the one-off CSO received in the prior year in lieu of government employee rental dwellings. As has been noted over the previous five financial years, Territory Housings operating deficits highlighted the inability of its rental income to fund its operating expenditures. In effect, this reflects the role of Territory Housing as a provider of housing to diverse groups across a large geographical area and, given this, it is most likely that subsidies in the form of Community Service Obligation funding will continue to be a permanent feature of the Territory Housings funding arrangements. The following amounts were received for the provision of community service obligations.


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.