ACT PLANNING AND LAND AUTHORITY
Objectives
The principal objectives of ACT Planning and Land Authority (the Authority) are to provide a planning and land system that contributes to the orderly and sustainable development of the ACT, which is:
•	consistent with the social, environmental and economic aspirations of the community;
•	in accordance with sound financial principles; and
•	in a manner that has regard to sustainable development.
The primary goal of the Authority is to work in partnership with all stakeholders in the community to provide planning leadership in response to social change.
The key business activities of the Authority are:
•	managing long term strategic land use, social and infrastructure planning for the Territory and preparing the Territory’s medium‑term land release program;
•	reviewing and implementing the Territory Plan, and supporting planning instruments and guidelines;
•	assessing development applications and related processes;
•	administration of the leasehold system;
•	assessing and inspecting hydraulics applications and auditing building certifiers, hydraulics certifiers and electrical certifiers; and
•	regulating building compliance (including investigations), the surveying industry and the building industry.
2005‑06 Highlights
Strategic and operational issues to be pursued in 2005‑06 include:
•	continuing reform of the planning and land administration system; 
•	continuing the implementation of the Canberra Spatial Plan including the next stage of the Molonglo study and the development of the Regional Management Framework;
•	establishing the Real Time Passenger Information System as part of the Sustainable Transport Plan;
•	continuing the implementation of the Canberra Central Program; and
•	working towards a fully integrated development application assessment process as part of the planning and land administration project.

Output Classes
	Total Cost	Government Payment for Outputs	
	2004-05
Est. Outcome
$’000	2005-06
Budget
$’000	2004-05
Est. Outcome
$’000	2005-06
Budget
$’000	
Output Class 1
Planning, Regulation and Land					
Output 1.1
Delivery of Strategic and Land Planning, Development and Building Regulation and Land Release for Development	39  337	58  033	34  876	33  839	
Output Description
ACT Planning and Land Authority will provide for:
•	high quality professional services in strategic and land planning;
•	development and building regulation with the overarching objective of promoting sustainable, attractive, safe and well-designed urban, residential and rural environments in the ACT; and
•	land release.

Accountability Indicators
	2004‑05
Targets	2004-05
Est. Outcome	2005-06
Targets	
Output Class 1
Planning, Regulation and Land				
Output 1.1
Delivery of Strategic and Land Planning, Development and Building Regulation and Land Release for Development	
Regulatory Services				
a.	Percentage of audits/investigations undertaken in respect to:				
–	building applications lodged	10%	10%	10%	
–	new electrical installations	100%	100%	100%	
–	new sewage connections	100%	100%	100%	
b.	Development Applications assessed within statutory timeframes				
–	single dwellings applications	90%	90%	90%	
–	other development applications	75%	75%	75%	
c.	Percentage of development application appeals resolved by mediation	50%	50%	50%	
d.	Percentage of AAT decisions that support the Authority’s position	100%	100%	100%	
Planning and Strategic Deliverables				
e.	Percentage of stage 2 of the Molonglo Valley planning investigations completed	50%
Completed	50%
Completed	100%
Completed	
f.	Complete feasibility studies into:				
–	Western broadacre major infrastructure	n/a	n/a	100%	
–	City Hill, Constitution and Edinburgh Ave and Lake Burley Griffin connections	n/a	n/a	100%	
–	Complete forward design of the Belconnen to Civic busway	n/a	n/a	100%	
Customer Satisfaction				
g.	Customer awareness of the Authority, planning processes and functions shows an increasing trend	n/a	n/a	Increasing Positive Results	
Land Supply				
h.	Number of blocks in the ‘land bank’ available for development to meet land release program	n/a	n/a	5  000	
Fiscal Responsibility				
i.	Total cost of services is in accordance with Budget	$40.162m	  $39.337m	  $58.033m	

Budgeted Financial Results
Section 31 of the Financial Management Act 1996 (FMA), provides that Chief Executives are responsible for the achievement of financial results.  For the purpose of Section 31 of the FMA key budgeted results are specified in the Budget Papers to improve accountability.  An outcome of the increased accountability will be the requirement for Chief Executives to explain material variances from specified budgeted results.
In accordance with Section 31 of the FMA, the following are the key 2005‑06 Budget results for the Authority: 
•	Operating Result ($21.141m deficit) – this measure focuses on the financial performance of the Authority, and will measure its success in managing expenditure levels within government funding and own-source revenue limitations.  This result is driven by the transfer of completed capital works of $20.5m to the Department of Urban Services free of charge and depreciation of $0.6m.
•	Current Ratio (0.26 to 1) – the current ratio is an indication of the ability to fund short term liabilities from short-term assets.  While a generally accepted minimum of 1:1 is desired, the Authority holds a large unfunded liability for employee benefits.
•	Total Assets ($19.192m) – this measure focuses on the Authority’s ability to manage its asset base.  This includes $12.7m of Capital Works in Progress that will be transferred to the Department of Urban Services on completion.
•	Total Liabilities ($9.121m) – this measure indicates the size of the obligations that the Authority has to meet in the future, and is largely comprised of employee benefits of $6.832m.

Changes to Appropriation
Changes to Appropriation - Departmental						
 	2004-05	2005-06	2006-07	2007-08	2008-09	
Government Payment for Outputs	Est. Outc.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2004-05 Budget	  34  305	  33  461	  33  882	  33  174	  33  174	
						
2nd Appropriation						
Wage Negotiations	    496	    549	    660	    660	    660	
Bushfire Related Compliance Review	    75	    70	    0	    0	    0	
2005-06 Budget Policy Adjustments						
Reform of Planning and Land System	    0	    290	    0	    0	    0	
BASIX Energy Rating System	    0	    160	    0	    30	    0	
Western Broadacre Feasibility Study	    0	    300	    0	    0	    0	
City Hill Feasibility Study	    0	    500	    0	    0	    0	
General Savings	    0	-1  400	-1  400	-1  400	-1  400	
2005-06 Budget Technical Adjustments						
Revised Indexation Parameters	    0	    0	    0	    0	    284	
Communication Contract Savings	    0	-91	-135	-135	-135	
						
2005-06 Budget 	  34  876	  33  839	  33  007	  32  329	  32  583	

Changes to Appropriation - Departmental						
 	2004-05	2005-06	2006-07	2007-08	2008-09	
Capital Injections	Est. Outc.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2004-05 Budget	  14  880	  6  500	    0	    0	    0	
						
2nd Appropriation						
Accommodation Refurbishment - Dame Pattie Menzies House	    450	    450	    0	    0	    0	
2005-06 Budget Policy Adjustments						
Capital Upgrade Program	    0	    300	    300	    300	    300	
2005-06 Budget Technical Adjustments						
Rollover - Capital Works	-5  400	  5  400	    0	    0	    0	
2005-06 Capital Works Program	    0	  12  224	  3  836	    0	    0	
						
2005-06 Budget 	  9  930	  24  874	  4  136	    300	    300	

2005-06 Capital Works Program
Departmental
 	Estimated	Estimated	2005-06	2006-07	2007-08	Expected 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2005-06				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
New Capital Works							
 	 	 	 	 	 	 	
New Construction Works							
							
Land Release							
Crace Infrastructure	200	-	200	-	-	Jun 2006	
Harrison Primary School Access Road	100	-	100	-	-	Jun 2006	
Western Broadacre Major Infrastructure	300	-	300	-	-	Jun 2006	
							
Canberra Central							
City West Infrastructure stage 1 – Childers Street Precinct	6  000	-	6  000	-	-	Jun 2006	
Replacement and New Signage for City	700	-	700	-	-	Jun 2006	
City Hill, Constitution and Edinburgh Avenues and Lake Burley Griffin Connections	500	-	500	-	-	Jun 2006	
							
Trunk Infrastructure Development - Augmentation							
Gundaroo Drive Water Main	1  800	-	1  500	300	-	Jun 2007	
							
Sustainable Transport							
Cycle Paths	500	-	500	-	-	Jun 2006	
Real Time Information	6  760	-	3  224	3  536	-	Jun 2007	
							
Total New Construction Works	16  860	-	13  024	3  836	-	 	
							
Capital Upgrades							
Capital Upgrade Funding	300	-	300				
							
Total Capital Upgrades	300	-	300				
							
Total New Capital Works	17  160	-	13  324	3  836	-	 	
 	 	 	 	 	 	 	
Works in Progress							
							
Land Release							
Belconnen Town Centre Infrastructure	3  000	100	2  900	-	-	Jun 2006	
Bonner Water Quality Control Pond	3  000	500	2  500	-	-	Apr 2006	
East O’Malley Infrastructure	2  000	1  900	100	-	-	Nov 2005	
Horse Park Drive/Forde Access Road Intersection	1  200	250	950	-	-	Apr 2006	
							
Trunk Infrastructure Development – Augmentation							
North Watson Access Road and Stormwater 
	Infrastructure	2  000	1  800	200	-	-	Oct 2005	

 	Estimated	Estimated	2005-06	2006-07	2007-08	Expected 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2005-06				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
Works in Progress Cont.							
							
Road Transport							
Gungahlin to Civic Corridor – Stage 1: High 
Occupancy Vehicles (HOV) Priority Measures	900	150	750	-	-	Oct 2005	
							
Forward Design							
Sustainable Transport Initiative - Stage 1	6  000	1  500	4  500	-	-	Jun 2006	
							
Total Works in Progress	18  100	6  200	11  900	  -	  -	 	
							
Total Departmental Capital Works	35  260	6  200	25  224	3  836	-	 	

ACT Planning and Land Authority	
Operating Statement	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
34  305		Government Payment for Outputs	34  876	33  839	-3	33  007	32  329	32  583		
1  501		User Charges - Non ACT Government	1  501	1  665	11	1  742	1  785	1  827		
509		User Charges - ACT Government	509	527	4	569	582	597		
0		Interest	200	200	-	100	100	100		
47		Other Revenue	47	47	-	48	49	50		
39		Resources Received free of charge	614	614	-	614	615	616		
36  401		Total Revenue	37  747	36  892	-2	36  080	35  460	35  773		
		Gains								
0		Total Gains	0	0	-	0	0	0		
36  401		Total Income	37  747	36  892	-2	36  080	35  460	35  773		
		Expenses								
19  844		Employee Expenses	20  452	20  308	-1	20  632	20  636	20  637		
3  360		Superannuation Expenses	3  430	3  431	..	3  517	3  516	3  516		
13  272		Supplies and Services	14  022	12  665	-10	11  327	10  672	10  926		
529		Depreciation and Amortisation	529	625	18	485	205	195		
2  429		Other Expenses	904	21  004	#	9  165	606	607		
39  434		Total Ordinary Expenses	39  337	58  033	48	45  126	35  635	35  881		
-3  033		Operating Result	-1  590	-21  141	#	-9  046	-175	-108		

ACT Planning and Land Authority	
Balance Sheet	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
1  511		Cash	384	189	-51	204	334	568		
507		Receivables	1  000	1  000	-	1  000	1  000	1  000		
195		Other	204	204	-	204	204	204		
2  213		Total Current Assets	1  588	1  393	-12	1  408	1  538	1  772		
		Non Current Assets								
6  865		Property, Plant and Equipment	5  252	5  095	-3	4  521	4  308	4  110		
11  980		Capital Works in Progress	8  680	12  704	46	8  280	8  580	8  880		
18  845		Total Non Current Assets	13  932	17  799	28	12  801	12  888	12  990		
21  058		TOTAL ASSETS	15  520	19  192	24	14  209	14  426	14  762		
		Current Liabilities								
1  698		Payables	2  589	2  289	-12	2  139	2  089	2  089		
3  525		Employee Benefits	2  987	3  127	5	3  204	3  346	3  490		
5  223		Total Current Liabilities	5  576	5  416	-3	5  343	5  435	5  579		
		Non Current Liabilities								
3  583		Employee Benefits	3  606	3  705	3	3  705	3  705	3  705		
3  583		Total Non Current Liabilities	3  606	3  705	3	3  705	3  705	3  705		
8  806		TOTAL LIABILITIES	9  182	9  121	-1	9  048	9  140	9  284		
12  252		NET ASSETS	6  338	10  071	59	5  161	5  286	5  478		
		REPRESENTED BY FUNDS EMPLOYED								
12  246		Accumulated Funds	6  332	10  065	59	5  155	5  280	5  472		
6		Reserves	6	6	-	6	6	6		
12  252		TOTAL FUNDS EMPLOYED	6  338	10  071	59	5  161	5  286	5  478		

ACT Planning and Land Authority	
Cash Flow Statement	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
34  305		Cash from Government for Outputs	34  876	33  839	-3	33  007	32  329	32  583		
2  335		User Charges	2  335	2  517	8	2  636	2  692	2  749		
0		Interest Received	200	200	-	100	100	100		
1  396		Other Revenue	1  396	1  396	-	1  397	1  399	1  400		
38  036		Operating Receipts	38  807	37  952	-2	37  140	36  520	36  832		
		Payments								
22  965		Related to Employees	24  056	23  500	-2	24  072	24  010	24  009		
13  558		Related to Supplies and Services	15  380	13  251	-14	11  763	11  008	11  211		
1  378		Other	1  378	1  378	-	1  379	1  380	1  381		
37  901		Operating Payments	40  814	38  129	-7	37  214	36  398	36  601		
135		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	-2  007	-177	91	-74	122	231		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Payments								
14  880		Purchase of Property, Plant and Equipment	9  931	24  892	151	4  047	292	297		
14  880		Investing Payments	9  931	24  892	151	4  047	292	297		
-14  880		NET CASH INFLOW/(OUTFLOW) FROM INVESTING ACTIVITIES	-9  931	-24  892	-151	-4  047	-292	-297		
		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
14  880		Capital Injection from Government	9  930	24  874	150	4  136	300	300		
14  880		Financing Receipts	9  930	24  874	150	4  136	300	300		
14  880		NET CASH INFLOW/(OUTFLOW) FROM FINANCING ACTIVITIES	9  930	24  874	150	4  136	300	300		
135		NET INCREASE/(DECREASE) IN CASH HELD	-2  008	-195	90	15	130	234		
1  376		CASH AT BEGINNING OF REPORTING PERIOD	2  392	384	-84	189	204	334		
1  511		CASH AT THE END OF THE REPORTING PERIOD	384	189	-51	204	334	568		

ACT Planning and Land Authority	
Statement of Changes in Equity	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
405		Opening Balance	-2  002	6  338	417	10  071	5  161	5  286		
		Accumulated Funds								
-3  033		Operating Result for the Period	-1  590	-21  141	#	-9  046	-175	-108		
		Reserves								
-3  033		Total Income And Expense For The Period	-1  590	-21  141	#	-9  046	-175	-108		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
14  880		Capital Injections	9  930	24  874	150	4  136	300	300		
12  252		Closing Balance	6  338	10  071	59	5  161	5  286	5  478		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	government payment for outputs:  the increase of $0.571m in the 2004‑05 estimated outcome from the original budget is due to additional funding of $0.496m provided for the Enterprise Bargaining Agreement (EBA) and $0.075m for the management of bushfire affected areas.  The decrease of $1.037m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to general savings of $1.4m, offset by funding for the new initiatives of $0.450m;
•	interest:  the increase of $0.2m in the 2004‑05 estimated outcome from the original budget is primarily due to a nil estimate for interest being included in the original budget;
•	resources received free of charge:  the increase of $0.575m in the 2004‑05 estimated outcome from the original budget is due to higher than budgeted use of legal services;
•	employee and superannuation expenses:  the increase of $0.678m in the 2004‑05 estimated outcome from the original budget is primarily due to the EBA;
•	supplies and services:  the increase of $0.750m in the 2004‑05 estimated outcome from the original budget is mainly due to the flow on effects of the 2003‑04 audited outcome.  The decrease of $1.357m in the 2005‑06 Budget from the 2004‑05 estimated outcome is mainly due to general savings and the completion of previously funded initiatives; and
•	other expenses:  the decrease of $1.525m in the 2004‑05 estimated outcome from the original budget is due to decreased asset transfers to the Department of Urban Services (DUS) of $2.1m, partially offset by increased legal services of $0.575m.  The increase of $20.1m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to the transfer of completed capital works to DUS.
Balance Sheet
•	cash:  the decrease of $1.127m in the 2004‑05 estimated outcome from the original budget is due to a decrease from the audited outcome;
•	current receivables:  the increase of $0.493m in the 2004-05 estimated outcome from the original budget is a result of the flow-on effect of the 2003‑04 audited outcome;
•	property plant and equipment:  the decrease of $1.613m in the 2004‑05 estimated outcome from the original budget is mainly due to the flow‑on effect of the 2003‑04 audited outcome of $2.063m offset by an increase of $0.450m for the accommodation refurbishment;
•	capital works in progress:  the decrease of $3.3m in the 2004‑05 estimated outcome from the original budget, and the increase of $4.024m in the 2005-06 Budget from the 2004-05 estimated outcome is due to the deferral of capital works items from 2004‑05 to 2005-06; and
•	current and non current employee benefits:  the net decrease of $0.515m in the 2004‑05 estimated outcome from the original budget relates to the decrease in the wage accruals at year end.  The increase of $0.239m in the 2005-06 Budget from the 2004‑05 estimated outcome is due to the EBA.
Statement of Changes in Equity
•	capital injections:  the decrease of $4.950m in the 2004‑05 estimated outcome from the original budget is due to a decrease of $5.4m in capital works not being undertaken in 2004‑05, which will be rolled over into 2005‑06, offset by funding provided for accommodation refurbishment ($0.450m).

ACT Planning and Land Authority	
Statement of Income and Expenses on Behalf of the Territory	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		Income								
		Revenue								
11  090		Taxes Fees and Fines	11  090	11  326	2	11  607	11  897	12  195		
170		Grants from the Commonwealth	170	140	-18	30	30	0		
3  450		Other Revenue	3  450	3  450	-	3  450	3  450	3  536		
14  710		Total Revenue	14  710	14  916	1	15  087	15  377	15  731		
		Gains								
0		Total Gains	0	0	-	0	0	0		
14  710		Total Income	14  710	14  916	1	15  087	15  377	15  731		
		Expenses								
170		Other Expenses	170	140	-18	30	30	0		
14  540		Transfer Expenses	14  540	14  776	2	15  057	15  347	15  731		
14  710		Total Ordinary Expenses	14  710	14  916	1	15  087	15  377	15  731		
0		Operating Result	0	0	-	0	0	0		

ACT Planning and Land Authority	
Statement of Assets and Liabilities on Behalf of the Territory	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
634		Cash	1  121	1  121	-	1  121	1  121	1  121		
848		Receivables	705	705	-	705	705	705		
1  482		Total Current Assets	1  826	1  826	-	1  826	1  826	1  826		
		Non Current Assets								
41  037		Receivables	3  231	3  231	-	3  231	3  231	3  231		
0		Property, Plant and Equipment	35  364	35  364	-	35  364	35  364	35  364		
41  037		Total Non Current Assets	38  595	38  595	-	38  595	38  595	38  595		
42  519		TOTAL ASSETS	40  421	40  421	-	40  421	40  421	40  421		
		Current Liabilities								
634		Payables	1  826	1  826	-	1  826	1  826	1  826		
1  200		Other	0	0	-	0	0	0		
1  834		Total Current Liabilities	1  826	1  826	-	1  826	1  826	1  826		
1  834		TOTAL LIABILITIES	1  826	1  826	-	1  826	1  826	1  826		
40  685		NET ASSETS	38  595	38  595	-	38  595	38  595	38  595		
		REPRESENTED BY FUNDS EMPLOYED								
40  685		Accumulated Funds	38  595	38  595	-	38  595	38  595	38  595		
40  685		TOTAL FUNDS EMPLOYED	38  595	38  595	-	38  595	38  595	38  595		

ACT Planning and Land Authority	
Budgeted Statement of Cashflows on Behalf of the Territory	
  2004-05			  2004-05	   2005-06		  2006-07	  2007-08	  2008-09		
    Budget			Est.Outcome	   Budget	   Var	  Estimate	   Estimate	  Estimate		
    $'000			   $'000	   $'000	    %	   $'000	    $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
11  090		Taxes, Fees and Fines	11  090	11  326	2	11  607	11  897	12  195		
170		Grants Received from the Commonwealth	170	140	-18	30	30	0		
3  500		Other Revenue	3  500	3  523	1	3  523	3  523	3  609		
14  760		Operating Receipts	14  760	14  989	2	15  160	15  450	15  804		
		Payments								
50		Other	50	73	46	73	73	73		
14  710		Territory Receipts to Government	14  710	14  916	1	15  087	15  377	15  731		
14  760		Operating Payments	14  760	14  989	2	15  160	15  450	15  804		
0		NET CASH INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES	0	0	-	0	0	0		
0		NET INCREASE/(DECREASE) IN CASH HELD	0	0	-	0	0	0		
634		CASH AT BEGINNING OF REPORTING PERIOD	1  121	1  121	-	1  121	1  121	1  121		
634		CASH AT THE END OF THE REPORTING PERIOD	1  121	1  121	-	1  121	1  121	1  121		

ACT Planning and Land Authority	
Statement of Changes in Equity on Behalf of The Territory	
    Budget			Est.Outcome	   Planned		   Planned	   Planned	   Planned		
as at 30/6/05			as at 30/6/05	as at 30/6/06	   Var	as at 30/6/07	as at 30/6/08	as at 30/6/09		
   $'000			   $'000	    $'000	    %	    $'000	    $'000	    $'000		
40  685		Opening Balance	0	38  595	#	38  595	38  595	38  595		
		Accumulated Funds								
0		Net Effect of Change in Accounting Policy	38  595	0	-100	0	0	0		
0		Operating Result for the Period	0	0	-	0	0	0		
		Reserves								
0		Total Income And Expense For The Period	38  595	0	-100	0	0	0		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
40  685		Closing Balance	38  595	38  595	-	38  595	38  595	38  595		
Notes to the Budget Statements
Significant variations are as follows:
Statement of Income and Expenses on Behalf of the Territory
•	taxes, fees and fines:  the increase of $0.236m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to increases in fees to reflect the CPI; and
•	transfer expenses:  the increase of $0.236m in the 2005‑06 Budget from the 2004‑05 estimated outcome is due to increased Territorial receipts as noted above.