Australian Capital Territory

Financial Management (Financial Targets) Amendment 2004 (No 1)

Notifiable instrument NI2004—187 

made under the 
Financial Management Act 1996, s19E   Amendment of financial targets

I amend the following financial target(s) for the financial year 2003-04.  A statement of reasons for the change is attached.

Department	Description of financial target	Target published in budget paper	New target	
Department of Education and Training	Operating Result after Extraordinary Activities 	$24.216m deficit	$27.271m deficit	
Department of Education and Training	Current ratio 	1.2:1	1.2:1	
Department of Education and Training	Total Assets	$682.887m	$659.147m	
Department of Education and Training	Total Liabilities	$63.083m	$63.447m	
Office for Children, Youth and Family Support	Operating Result after Extraordinary Activities 	-	$0.049m deficit	
Office for Children, Youth and Family Support	Current ratio	-	0.4:1	
Office for Children, Youth and Family Support	Total Assets	-	$23.603m	
Office for Children, Youth and Family Support	Total Liabilities	-	$2.740m	

Ted Quinlan MLA
Treasurer	

Dated: 28 June 2004	

ACT Government

FINANCIAL MANAGEMENT ACT 1996

TRANSFER UNDER SECTION 19E OF THE FINANCIAL MANAGEMENT ACT 1996

STATEMENT OF REASONS

Section 19E - Statement of Reasons for Amendment

This statement outlines the reasons for the amendment of financial targets under section 19E of the Financial Management Act 1996.

Financial targets for the Department of Education and Training and the Office of Children, Youth and Family Support are to be amended due to the transfer of Children’s, Youth and Family Services as part of the Administrative Arrangements Order of 26 May 2004.

The management of, and responsibility for, Children’s, Youth and Family Services, (excluding preschools and early intervention programs) has been transferred from the Department of Education, Youth and Family Services to the newly established Office for Children, Youth and Family Support.

This transfer reflects the new Ministerial responsibility for this function.