2007

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)

(Mr Richard Mulcahy)

An Act to amend the Financial Management Act 1996

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

This Act is the Financial Management Amendment Act 2007 (No 2).

This Act commences on the day after its notification day.

Note The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

This Act amends the Financial Management Act 1996.

(1) Within 45 days after the end of each quarter of a financial year, the Treasurer must prepare a capital works program progress report (a progress report) for—

(a) the quarter; and

(b) the period from the beginning of the financial year until the end of the quarter.

(2) The progress report must give—

(a) for the Territory—

(i) the information mentioned in subsection (3) for each administrative unit; and

(ii) a capital works program summary for each administrative unit; and

(b) for each administrative unit—

(i) the information mentioned in subsection (3) for each portfolio unit within the administrative unit; and

(ii) a capital works program summary for each portfolio unit within the administrative unit.

(3) The progress report must give the following information about expenditure for each period mentioned in subsection (1):

(a) the amount appropriated in the budget for—

(i) new works; and

(ii) works in progress and prior year deferrals and underspends; and

(iii) the total amount appropriated for (i) and (ii);

(b) the amount by which an amount mentioned in paragraph (a) has varied in the period;

(c) the total amount of funds available after any variations mentioned in paragraph (b).

(4) The Treasurer must present a copy of the progress report to the Legislative Assembly on the first sitting day after it is prepared.

(5) If the first sitting day mentioned in subsection (4) does not fall within 45 days after the end of the relevant quarter, the Treasurer must give a copy of the progress report to each member of the Legislative Assembly within the 45 days.

(6) In this section:

portfolio unit means a program in an administrative unit for which a capital works appropriation has been allocated.

Presentation speech made in the Legislative Assembly on 2007.

Notified under the Legislation Act on 2007.

For the latest republication of amended laws, see www.legislation.act.gov.au.