Financial Management Act 1996

The purpose of the budget review for a financial year is to give updated information to allow the assessment of the government’s financial performance against the financial policy objectives and strategies set out in the financial policy objectives and strategies statement for the Territory budget for the financial year.

The budget review for a financial year must be based on the financial policy objectives and strategies statement for the Territory budget for the financial year.

The budget review for a financial year must—

include updated financial statements required under the financial management guidelines for the general government sector for the financial year; and

include whole-of-year results for the previous financial year, the budget for the financial year, the estimated financial position of the Territory at the end of the financial year and updated budget estimates for each of the next 3 financial years; and

include a review of the financial policy objectives and strategies statement included in the budget for the financial year that satisfies the requirements of section 11A (2) and (3); and

state the date as at when the review was done.

However, if particular information required to be included in the budget review is unchanged from information set out in full in the budget for the Territory under section 11 (1) for the financial year, the review may instead summarise the information and state that it is unchanged from that set out in the budget.

For subsection (3):