Northern Territory Auditor-General's Office, February 2023 Report to the Legislative Assembly
Tabled Paper 772
Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT
2023-02-14
Tabled by the Speaker
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
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Tabled papers
Legislative Assembly of the Northern Territory
Darwin
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Legislative Assembly of the Northern Territory
https://www.legislation.gov.au/Details/C2019C00042
https://hdl.handle.net/10070/898837
https://hdl.handle.net/10070/898851
Auditor-General for the Northern Territory February 2023 Report Page 27 of 131 Treasurers Annual Financial Statements cont Performance overview My comments and findings on the most recent audits I have conducted in relation to individual entities within the Total Public Sector are reported separately, either within this report or other reports to the Legislative Assembly. Accordingly, the comments that follow are largely confined to the General Government Sector, that being the sector that is funded largely through taxation and also the sector that is responsible for the provision of those services that the community commonly associates with the role of government. Financial performance The financial performance of the General Government Sector, as measured by the net operating balance, for the year ended 30 June 2022 was an improvement from the prior year. The net operating balance for the year ended 30 June 2022 was a deficit of $136.8 million. The deficit was $700.1 million lower than the restated deficit of $836.9 million reported for the year ended 30 June 2021. Total revenues increased by $1,144.1 million when compared to the previous year. The $211.1 million increase in taxation revenue mainly arises from an increase in stamp duty revenue of $162.4 million, reflecting higher housing values with increased residential market activity and several large commercial property transactions. Payroll related taxes increased by $36.5 million reflecting faster than anticipated economic recovery following the impact of COVID-19, combined with improved employment activity. Current grants revenue increased by $767.7 million predominantly due to additional GST revenue of $583.9 million as a result of the significant improvement in the national GST pool following the impacts of COVID-19 together with an increase in the Territory's GST relativity. Other current grants revenue increased by $86.4 million reflecting increased funding in 2021-22 for Commonwealth Activity Based Funding relating to funding adjustments for 2020-21 actuals and the COVID-19 Public Health Response and natural disaster relief payments received from the Commonwealth. Revenue from capital grants increased by $57.2 million primarily relating to increased Commonwealth funding in 2021-22 for repairs and maintenance on national highways and remote housing, and quality schools reform, combined with greater reimbursements under the grant agreement for COVID-19 quarantine arrangements for repatriated Australians. Current grants specific purpose payments increased by $53.3 million largely due to a year-on-year increase in Quality Schools funding for non-government schools, combined with new additional funding for the non-government school Choice and Affordability Fund, and partially offset by a year-on-year decrease in Quality Schools funding for government schools. Sales of goods and services increased by $25.8 million. The most significant increase (approximately $17.0 million) was related to insurance premiums and other recoveries recorded by the Motor Accidents (Compensation) Commission and fees from regulatory services which increased by $12.1 million when compared to the 2021 financial year.