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

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(e) Bayside On 26 July 1990, the Government entered into an agreement, supplemental to the Development Agreement and the Contract of Sale, with Sandridge City Development Company Pty Ltd (SCDC). The supplemental agreement included a clause requiring the State to pay the developer costs and expenses incurred by the project prior to 30 June 1990 and interest on that amount from that date. The Development Agreement lapsed on 6 April 1992 and on 28 May 1992 SCDC lodged a writ claiming $7.5 million plus damages and costs. In the meantime, work is continuing on the project to realise the value of the property, estimated at between $18 — $25 million. The consolidation of the site for the Bayside project required the relocation of a number of businesses. From 15 July 1988 Red Top Distributors Ry Ltd lodged a series of claims totalling $2.2 million for compensation and relocation expenses associated with the move from the Bayside site. During 1991-92, a payment of $258 700 was made against that amount. The Government contracted with Roche Bros Pty Ltd for works associated with the cleanup of the Bayside site, the works were completed and the site was certified clean by the Environment Protection Agency in June 1992. In late 1991, Roche lodged contractual claims of about $7 million in excess of the revised contract figure. To date, negotiafions have reduced the excess over the contractual claim to approximately $4.5 million. (f) Eastside The Government sold the Eastside site to Becton City Holdings Pty Ltd on 31 January 1992. The Contract of Sale provided for further agreements and deeds including options on additional land to the south and east of the site. On 24 July 1992 the Development Agreement and Option Deeds were executed. To release the land identified in the Deeds the Government will need to carry out works at an estimated cost of $6.8 million to relocate existing railway facilities. (g) Private Bus Operators Previous arrangements with respect to private bus operators continued in 1991-92. Under these arrangements, the financing agency required written confirmation that the Department of the Treasury was aware of the provision of an overdraft facility to the Bus Proprietors' Association, and that the Budget provides funds to support the Government's ongoing commitment to fund the Private Bus Route Operations through the Public Transport Corporation. The Public Transport Corporation is not party to the overdraft facility, but is required to pay the payments to private bus operators to reduce the overdraft facility. 201
10. EQUITY CAPITAL OF THE STATE Table B.8 provides details of the Equity Capital of the State. TABLE B.8 EQUITY CAPITAL HELD BY THE STATE AS AT 30 JUNE 1992 SUMMARY This statement reports the gross book value of equity contributions by the State to commercial entities 1991 $ Share Capital - Gas and Fuel Corporation (a) Ordinary Shares (4 000 000 @ $2) (b) Preference Shares 3 917 608 @ $2 3 920 633 @ $2 National Mortgage Market Corporation Other Capital - Aluminum Smelter of Victoria Pty. Ltd. Amrad Corporation Ltd. Australian Artificial Intelligence Institute Ltd. Coal Corporation of Victoria Daratech Proprietary Limited Flexible Tariff Management Unit Trust Overseas Project Corporation of Victoria Port of Portland Authority Portland Aluminium Smelter - Portland Smelter Unit Trust Public Transport Corporation Rural Finance Corporation State Electricity Commission of Victoria Trace Scientific Pty. Ltd. Victorian Equity Trust (b) Victorian Snow Resorts Pty Ltd Vistel Limited 8000000 7 835 216 15 835 216 1992 $ 8000 000 7 841 266 15 841 266 433 344 16 274 610 1 000 000 15 000 000 1000 000 5 735 000 5000 000 32 358 000 4 512 000 3 823 000 20 000 000 4 724 131000 65 000 000 95 584 000 1 796 800 536 409 300 1600 000 2000 000 5 514 949 100 Total Equity Capital held by the State 5 531 223 710 Notes: (a) This table relates to the gross value of equity contributed, adjusted for any known accumulated losses. Nominal amounts in other entities, less than $100 are not shown, (b) Refer to Section 4(c) on Page 185 202
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•^ .,^^^ ^ Victoria Finance State
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The Honourable the Speaker Legislat
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VICTORIA HNANCE STATEMENT 1991-92 P
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1. INTRODUCTION EXPLANATORY NOTES T
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meet urgent claims may also be prov
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TABLE A,2 BALANCING THE CONSOLIDATE
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Pay-roll Tax Receipts from Pay-roll
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Offsetting these shortfalls were ad
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An amount of $24.2 million, reflecf
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Other significant payments related
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VICTORIA nNANCE STATEMENT 1991-92 S
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FINANCE STATEMENT 1991-92 SUMMARY O
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TEMENT 1991-92 IDATED FUND THE YEAR
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VICTORIA HNANCE STATEMENT 1991-92 A
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1990-91 Actual $ 17 449 641 440 043
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1990-91 Actual $ 87 840 142 87 840
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1990-91 Actual $ 758 331 212 2 700
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VICTORIA nNANCE STATEMENT 1991-92 A
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1990-91 Aaual nNANCE STATEMENT 1991
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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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nNANCE STATEMENT 1991-92 STATEMENT
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Page 189 and 190: Government of Victoria Capital Work
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Page 201 and 202: Table B.6 provides details of conti
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Page 223: Tobacco Franchise Licences 11 Total
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