Territory Stories

Northern Territory Auditor-General's Office, February 2023 Report to the Legislative Assembly



Northern Territory Auditor-General's Office, February 2023 Report to the Legislative Assembly

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Tabled Paper 772


Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT




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Legislative Assembly of the Northern Territory

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Legislative Assembly of the Northern Territory



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Auditor-General for the Northern Territory February 2023 Report Page 22 of 131 Treasurers Annual Financial Statements cont Table 1 outlines the key reporting elements of the NTG. Table 1: NTG reporting entity General Government Sector Public Non Financial Corporations Sector Public Financial Corporations Sector Includes: All government departments; other administrative units such as NT Police, Fire and Emergency Services and the Office of the Independent Commissioner Against Corruption; and other entities that provide services that are mainly non-market in nature, for the collective consumption by other agencies or by the community. This sector also includes the results of the Motor Accidents (Compensation) Commission. Comprises: Power and Water Corporation and its subsidiary Indigenous Essential Services Pty Ltd; Power Retail Corporation (trading as Jacana Energy); Power Generation Corporation (trading as Territory Generation); and Land Development Corporation. Comprises: Northern Territory Treasury Corporation In summary, the 3 sectors and their consolidated sectors are defined as: General Government Sector all budget dependent agencies providing services free of charge or at prices below their cost of production or service cost. These agencies are mainly engaged in the delivery of goods and services outside the normal market mechanism for consumption by governments and the general public. Costs of production are mainly financed from public tax revenues. For this reason, this sector tends to be the focus of fiscal targets (deficit or surplus). Public Non Financial Corporations Sector trading enterprises mainly engaged in the production of goods and supply of services of a non-financial nature for sale in the market place at prices that aim to recover all or most of the costs involved in production or supply. Non Financial Public Sector the sector formed through a consolidation of the General Government Sector and the Public Non Financial Corporation Sector. This sector provides the focus for the determination of net debt. Public Financial Corporations Sector public enterprises mainly engaged in acquiring financial assets and incurring liabilities in the financial market on their own account. Total Public Sector comprises the consolidation of the Non Financial Public Sector and the Public Financial Corporations Sector and represents the whole of Territory financial statements.