Financial Management Amendment Act 2001 (No 2) (ACT)

Financial Management Amendment Act 2001 (No 2)

No 42 of 2001

An Act to amend the Financial Management Act 1996

[Notified in ACT Gazette S36: 29 June 2001]

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Financial Management Amendment Act 2001 (No 2).

2. Commencement

3. Sections 1-4, 6 and 7 commence on the day this Act is notified in the Gazette.

4. Section 5 commences on 1 July 2001.

5. Act amended

   This Act amends the Financial Management Act 1996.

6. Monthly financial statements of the Territory
   New section 26 (6) and (7)

   insert

7. This section does not apply to require statements for—

   (a)June 2001; or

   (b)a period ending at the end of June 2001.

8. Subsection (6) and this subsection expire on 30 June 2001.

9. Section 26

   substitute

10. Periodic financial statements

11. Within 45 days after the last day of September, December, March and June in each financial year, the Treasurer must prepare the following statements:

    (a)an operating statement for the Territory for the 3 months ending on that day (the 3 month period);

    (b)a statement of the cash flows of the Territory for the 3 month period; 

    (c)a statement of the assets and liabilities of the Territory at the end of the 3 month period;

    (d)an operating statement for the Territory for the period (the cumulative reporting period) from the beginning of the financial year to the end of the 3 month period;

    (e)a statement of the cash flows of the Territory for the cumulative reporting period;

    (f)an operating statement and a cash flow statement in relation to the general government sector for the 3 month period and the cumulative reporting period;

    (g)an operating statement and a cash flow statement in relation to the public trading enterprise sector for the 3 month period and the cumulative reporting period;    

    (h)a statement of the assets and liabilities of the general government sector at the end of the 3 month period;

    (i)a statement of the assets and liabilities of the public trading enterprise sector at the end of the 3 month period.                 

12. The Treasurer must present a copy of each statement prepared under subsection (1) to the Legislative Assembly on the first sitting day after the statement is prepared.

13. If the first sitting day mentioned in subsection (2) does not fall within 45 days after the last day of September, December, March or June, the Treasurer must give a copy of each statement prepared under subsection (1) to each member of the Legislative Assembly within the 45 days.

14. New section 29A

    insert

29AAudit of financial statements for departments for 2000-2001      

1. Section 29 applies to financial statements of a department for the financial year ending on 30 June 2001 as if the following subsection were substituted for subsection (2):

   ‘(2)The auditor-general must give the chief executive of the department an audit opinion about the statements.’.

2. This section expires on 31 December 2001.

3. New section 61A

   insert

61AAudit of annual financial statements for 2000-2001

1. Section 61 applies to financial statements of a Territory authority for the financial year ending on 30 June 2001 as if the following subsection were substituted for subsection (2):

   ‘(2)The auditor-general must give the chief executive of the Territory authority an audit opinion about the statements.’. 

2. This section expires on 31 December 2001.

Endnote

Act amended

1. Republished as in force on 10 November 1999 (Republication No 2).  See also Acts 2000 Nos 21 and 27; 2001 Nos 4 and 11.

[Presentation speech made in Assembly on 13 June 2001]

©  Australian Capital Territory 2001