Australian Capital Territory Consolidated Acts

FINANCIAL MANAGEMENT ACT 1996 - SECT 12A

    (1)     A proposed budget presented to the Legislative Assembly under section 10 (c) for a territory authority or territory-owned corporation for a financial year must include—

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

        (b)     for a prescribed territory authority or prescribed territory-owned corporation—a statement that sets out the outputs and classes of outputs it is proposed that the authority or corporation should provide during the year and the performance criteria to be met by the authority in providing the outputs; and

        (c)     for a territory authority or territory-owned corporation 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.

    (2)     A proposed budget must be in a form that facilitates a comparison between—

        (a)     the proposed budget for the authority or corporation; and

        (b)     the budget for the authority or corporation for the previous financial year; and

        (c)     the estimated results for the authority or corporation for the previous financial year.

    (3)     A proposed budget must also include, for the financial statements mentioned in subsection (1) (a), budget estimates for each of the next 3 financial years.