Australian Capital Territory Current Acts

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FINANCIAL MANAGEMENT ACT 1996 - SECT 61

Territory authority statements of intent

    (1)     A territory authority must give the Treasurer a statement (a statement of intent ) for each financial year.

    (2)     A territory authority must consult the responsible Minister in preparing a statement of intent.

    (3)     A territory authority must show the responsible Minister a copy of the proposed statement of intent, and take into consideration any comment by the Minister, before giving it to the Treasurer.

    (4)     A statement of intent must be—

        (a)     in the form the Treasurer requires; and

        (b)     in a form that facilitates a comparison between—

              (i)     the proposed statement of intent for the authority; and

              (ii)     the statement of intent for the authority for the previous financial year; and

              (iii)     the estimated results for the authority for the previous financial year; and

        (c)     as agreed between the relevant person for the authority and the Treasurer; and

        (d)     provided to the Treasurer within the period the Treasurer requires.

    (5)     A statement of intent for a financial year must include the following:

        (a)     the financial statements required under the financial management guidelines;

        (b)     for a financial statement mentioned in paragraph (a)—budget estimates for each of the next 3 financial years;

        (c)     a statement of the objectives of the authority for the year and each of the next 3 financial years;

        (d)     a statement of the nature and scope of the activities to be carried out by the authority during the year and each of the next 3 financial years;

        (e)     for a territory authority that, during the year, is to be given a capital injection that must be repaid—a statement that—

              (i)     states that the capital injection is an injection that must be repaid; and

              (ii)     sets out the conditions under which the injection is to be given, including the requirements about the time within which it must be repaid;

        (f)     the results of any review under section 59 (10) in the previous financial year of an overdraft or credit facility approved for the authority;

        (g)     any other information the Treasurer directs.

    (6)     Also, a statement of intent for a prescribed territory authority for a financial year must include a statement that sets out—

        (a)     the outputs and classes of outputs it is proposed that the authority should provide during the year; and

        (b)     the performance criteria to be met by the authority in providing the outputs; and

        (c)     for each output and class of output mentioned in paragraph (a)—

              (i)     the proposed budget expense and proposed appropriation for the financial year; and

              (ii)     the estimated expense and appropriation for the previous financial year.

    (7)     In addition, the statement of intent for a territory authority that is not a prescribed territory authority for a financial year must include the following:

        (a)     the performance criteria and other measures by which the performance of the authority may be assessed against its objectives for the year and each of the next 3 financial years;

        (b)     an assessment of the performance (or estimated performance) of the authority in the previous financial year against its objectives for that year.

    (8)     In this section:

"relevant person", for a territory authority, means—

        (a)     if the authority has a governing board—the chair of the governing board; or

        (b)     if the authority does not have a governing board—the chief executive officer.



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