Statement of Receipts and Payments of the Consolidated Fund and ...

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Excluding wage award approvals of $40.0 million. School Education expenditure exceeded the Budget by $42.9 million. In the main this was caused by additional expenditure of $34.7 million on salaries and overtime, $4.6 million on subsidiary expenses associated with salaries and $4.1 million on maintenance allowances offset by underexpenditure in other areas. The increased expenditure on salaries was largely required due to the number of teachers in excess of entiUements including those returning from family leave, the cost of additional teachers to meet higher than expected enrolments, the impact of slower implementation of the savings package than anticipated at the time of the Budget and the effect of increased recoups to revenue which are reflected in expenditure. Excluding wage award approvals of $7.8 million, expenditure for the Community Services portfolio exceeded Budget by $14.9 million. This resulted from a combination of the transfer, under the Administrative Arrangements Act, of certain disability services from the Health Department during the course of the year ($11.6 million) and increased expenditure of $4.7 million associated with the provision of winter energy concessions to pensioners and other approved groups. Excluding wage award approvals of $49.8 million, expenditure in the Health portfolio was less than budget by an amount of $27.8 million. Major causes of this under expenditure was the transfer of certain disability services ($11.6 million) to the Department of Community Services pursuant to the provisions of the Administrative Arrangements Act, expenditure on salaries and associated costs and expenditure on certain Commonwealth programs being less than anticipated. In the case of Finance, Recurrent expenditure was $20.9 million less than the Budget estimate. The main component of this under expenditure was the reduction in transfer payments to working accounts caused by a lower than anticipated revenue from commercial activities. In Attorney-General expenditure exceeded the Budget esfimate by an amount of $14.4 million. The main reasons contributing to this were greater than expected expenditure on the Tricontinental Enquiry ($2.0 million), Appeal Costs ($2.3 million). Costs payable by the Crown ($1.6 million). Professional Assistance ($2.2 million), Victorian Financial Insfitutions Commission ($2.0 million). Review of Non-Bank Financial Institutions Enquiry ($0.5 million) and on Witnesses and Jurors ($1.3 million). Excluding wage award approvals of $6.3 million, the additional expenditures of $9.8 million for Employment, Post-Secondary Education and Training relate to payments to employers of additional apprentices and trainees under the Payroll Tax Rebates Scheme and the transfer of funds from the Employment Program of the Department of Labour. Recurrent expenditure of $39.2 million was expended under the Treasurer's portfolio in excess of the Budget esfimate. A payment of $34.7 million was required to meet the cost of ex-gratia payments to give effect to the $12 per week wage increase included in the Accord Mark VI Agreement between the Government and the Victorian Trades Hall Council/Australian Council of Trade Unions. XXll
Other significant payments related to the funding of the amortisation of the Delay Cost Compensafion Payment to the Portland Smelter Unit Trust ($14.0 million), the payment to the State Superannuation Board of $8.0 million in respect of outstanding liabilities of disability pensions ($8.0 million offset by payment of $6.2 million back into the Consolidated Fund) and the Victorian Government's share of the settlement in respect of medically acquired HIV pafients ($7.2 million). These increases were offset by savings in other appropriations which included financing charges ($10.1 million), payments in respect of Workers Compensation prior to the introduction of WorkCare ($8.7 million) and contributions to the Flexible Tariff Management Unit Trust ($6.9 million). In Transport, the revenue of the Public Transport Corporation was adversely affected by the deterioration in the economic climate resulting in an additional funding requirement of $40.0 million ($20.0 million for passenger operations and $20.0 million for freight operations). An additional $4.7 million of expenditure was incurred by the Roads Corporation following the receipt of additional Commonwealth funding. In addition to the amount of $207.0 charged to Program 729, Advance to Treasurer, a further amount of $15.3 was charged pursuant to Section 16 of the Public Account Act. Of this latter amount $2.4 million relates to commitments for Vocational Education and Training, $2.2 million for Planning and Housing to enable the appropriation of interest earned following the earlier than expected receipt of Commonwealth funds for housing purposes and $2.2 million for the Homes Now Program as a contribution towards a joint venture between the Victorian Government and the Housing Industry Association to assist first home buyers. 3.4 INTRA-YEAR PUBLIC ACCOUNT BORROWINGS Shortfalls in Consolidated Fund receipts in 1991-92 and the intra-year mismatch of receipts and expenditure — with expenditure generally incurred relatively evenly (reflecting in part fortnightly salary payments) and receipts generally collected late in the financial year — were funded through temporary Public Account borrowings during the year. The following graph shows the daily net borrowings by the Public Account during 1991-92. The cost of these borrowings decreased from $147.3 million in 1990-91 to $113.5 million in 1991-92, as a consequence of lower interest costs despite the magnitude of temporary borrowings. These borrowings are primarily sourced from Section 21 Advances from the Capital Works Authority under the Public Account Act or from the Cash Management Account. The source of funds used depends on the interest rate offered and the availability of funds. XXlll
Page 1 and 2: •^ .,^^^ ^ Victoria Finance State
Page 3 and 4: The Honourable the Speaker Legislat
Page 5 and 6: VICTORIA HNANCE STATEMENT 1991-92 P
Page 7 and 8: 1. INTRODUCTION EXPLANATORY NOTES T
Page 9 and 10: meet urgent claims may also be prov
Page 11 and 12: TABLE A,2 BALANCING THE CONSOLIDATE
Page 13 and 14: Pay-roll Tax Receipts from Pay-roll
Page 15 and 16: Offsetting these shortfalls were ad
Page 17: An amount of $24.2 million, reflecf
Page 21 and 22: VICTORIA nNANCE STATEMENT 1991-92 S
Page 23 and 24: FINANCE STATEMENT 1991-92 SUMMARY O
Page 25 and 26: TEMENT 1991-92 IDATED FUND THE YEAR
Page 27 and 28: VICTORIA HNANCE STATEMENT 1991-92 A
Page 29 and 30: 1990-91 Actual $ 17 449 641 440 043
Page 31 and 32: 1990-91 Actual $ 87 840 142 87 840
Page 33 and 34: 1990-91 Actual $ 758 331 212 2 700
Page 35 and 36: VICTORIA nNANCE STATEMENT 1991-92 A
Page 37 and 38: 1990-91 Aaual nNANCE STATEMENT 1991
Page 39 and 40: nNANCE STATEMENT 1991-92 PAYMENTS F
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nNANCE STATEMENT 1991-92 PAYMENTS F
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nNANCE STATEMENT 1991-92 STATEMENT
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ETHNIC, MUNICIPAL AND COMMUNITY AFF
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ATTORNEY-GENERAL CONSERVATION AND E
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151 VICTORIA nNANCE STATEMENT 1991-
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nNANCE STATEMENT 1991-92 THE TRUST
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Brought Forward Manufacturing and I
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8. WORKS AND SERVICES ACCOUNT nNANC
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Department and Programs PARLIAMENT:
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Department and Programs FINANCE: 35
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Department and Programs POLICE AND
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Financial commitments represent var
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Government of Victoria Capital Work
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4. EXPLANATORY NOTES ON SPECIFIC MA
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Financial Year Ending 30 June 1991
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5. LEASING COMMITMENTS The followin
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(b) Operating Leases for Transport
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7. CONTINGENT LIABILITIES IN RESPEC
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Table B.6 provides details of conti
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TABLE B.7 (Cont.) CONTINGENT LIABIL
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The scheme was originally establish
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The Bonds are secured by a second g
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(c) World Congress Centre The World
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10. EQUITY CAPITAL OF THE STATE Tab
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12. SUMMARY OF CREDITORS A Summary
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14. COMMONWEALTH FUNDS UNSPENT Comm
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209 VICTORIA FINANCE STATEMENT 1991
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Contract Auditing Coode Island Revi
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Metropolitan Fire Brigades Superann
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Tobacco Franchise Licences 11 Total
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Statement of Receipts and Payments of the Consolidated Fund and ...

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