❓ A parliamentary question regarding the Loan Bill 2009 and its potential impact on government agency funding, borrowing authority, and the use of Commonwealth advances. The Treasurer's response outlines the Department's considerations and agency responsibilities.
AnsweredQoN 633Legislative Council
QuestionView source ↗
LOAN BILL 2009 — GOVERNMENT AGENCY FUNDING
I ask this question on behalf of Hon Ken Travers, who unfortunately has had to leave the chamber on urgent parliamentary business. (1) Can the Treasurer advise which agencies have advised the Department of Treasury and Finance that they may not have enough cash to fund all their operations or asset investment programs until the end of the financial year if the Loan Bill is not passed? (2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE
I ask this question on behalf of Hon Ken Travers, who unfortunately has had to leave the chamber on urgent parliamentary business. (1) Can the Treasurer advise which agencies have advised the Department of Treasury and Finance that they may not have enough cash to fund all their operations or asset investment programs until the end of the financial year if the Loan Bill is not passed? (2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE
AnswerView source ↗
I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(1) Can the Treasurer advise which agencies have advised the Department of Treasury and Finance that they may not have enough cash to fund all their operations or asset investment programs until the end of the financial year if the Loan Bill is not passed? (2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(1) Can the Treasurer advise which agencies have advised the Department of Treasury and Finance that they may not have enough cash to fund all their operations or asset investment programs until the end of the financial year if the Loan Bill is not passed? (2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(2) If the Loan Bill is not passed, at what date will the government exhaust its authority to borrow? (3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(3) What will be the consequences if the government’s authority to borrow is exhausted? (4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(4) Can the Treasurer guarantee that no agency is using cash advanced by the commonwealth for purposes other than those specified by the commonwealth when the advance was made? Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
Hon NORMAN MOORE replied: I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
I thank the member for some notice of the question. (1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(1) The Department of Treasury and Finance is currently considering options available to manage the consolidated account in the event that the Loan Bill is not passed by 30 June 2009. The agencies affected by this potential constraint are yet to be determined. (2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(2) The existing loan authorisations were exhausted by borrowings undertaken on 10 June 2009. (3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(3) If the Loan Bill is not passed by 30 June 2009, the government will be required to manage within the cash balance of the consolidated account—including revenues yet to be received. This is likely to require the deferral of expenditure on a range of activities. (4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
(4) It is the responsibility of the accountable authority in each agency to comply with any restriction that applies to the use of funds available to them.
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