Thanks for the pointer.

One of the things that I’ve uncovered is that a lot of ‘adjusting’ takes place after the audited statements are put out.

A second thing is that the ‘blue book’ of revenue etc… that is debated during the six week Budget Debate always has a ten year table [in the last pages] showing GovRev and GovSpen over a ten year period. From time to time, this Budget book table also has its figures adjusted.

I look for consistency and reliability so that I compare apple with apples and keep the oranges far away. Not a simple task when dealing with Government’s own reports on its own financial dealings.

If you look up FY 2009/10 in the last pages of the Budget book, you will find exactly the kind of thing that seems so normal in Government.

You will find that for 2009/10 the Interest paid on Debt is reported as an incredibly low $1,695,000 and the Sinking Fund contribution is reported as $0. But look at the figures on either side, for 2008/09 and 2010/11.

The Budget book contains the stuff that Parliament and the people/taxpayers are told.

I avoid the sometimes puzzling minutiae of late accounting ‘adjustments’ and keep to clear revenue and spending [not expenses]as reported.

I do note that there is never any discrepancy over REVENUE. Only over spending.

That there isn’t a clear and consistent agreement over expenses and expenditure is just part of Government’s financial jigsaw puzzle – perhaps it’s intended to bamboozle the public.

lb

That’s why there appears to be a big jump in budgeted spending between 2012/13 and 2013/14.

Total Expenses: 1,274,568,483
Total Revenue: 866,577,558
Annual Deficit: 407,990,925

Note 4 in the chart states that the Revenue and Spend figures are from the audited statements of the Consolidated Fund.

I check and cross check all my figures. The 2012/13 ‘audit’ figures and as repeated in other Ministry of Finance reports are that in FY 2012/13: Revenue was $866,578,000. Spending was $1,092,476,000.

Those 2012/13 numbers are those reported and agreed by the Auditor General.

Where, in what report or reports, is your 2012/13 figure of a Spend of $1,274,000,000 being reported? Your figure would give a 2012/13 deficit in excess of $400 million.

I’m curious, very curious.

Larry Burchall

Worst year was 2012-2013. The OBA then used a realistic budget figure in 2013-14 and the deficit dropped by 25% their first year.

That bears repeating.