[Proposal] Account Balance Management Reform

Day 2,103, 12:27 • Published in Australia Australia • by Lord TJ

ACCOUNT BALANCE MANAGEMENT REFORM

Dear Australians,

Today I gave a speech in the Senate (click here to visit the speech) where I proposed a change to the way government organisation balances and standards are applied in eAustralia. It's in discussion mode, the initial stage of debate of drafting a bill to vote on in the Senate.

Speaking as a current and long time Cabinet officer, for too long incoming governments have had to face their new terms with good Treasury books - but poor game accounting. To be clear I am not referring to the hard work of our Finance Ministers past and present, I am referring to leftover monies in org accounts from previous terms, that have had a budgeted purpose, yet hasn't been spent during that term and been allowed to accumulate and still Senate has to approve disbursements as the case applies.

Both branches of government have to persistently deal with a situation not of its own making and hear motions on a case-by-case basis for transfer approvals. How does that sound so wrong?

- .. because it's money that Senate has already approved in previous budgets

My question is: Why do we keep doing the same thing over? Let's do something about it.

In my regular conversations with counterparts in other parties, it came up in a recent meeting between myself and ARP president Mr Tim Holtz. It's fair to say we each may have different views on various issues, however Mr Holtz and I are in agreement on this.

Government has been put in a difficult position. What we're talking about here has nothing to do with internal appropriations within the same term's operational period. All the while org money is sitting there. The fact remains: orgs other than the RBA shouldn't have money sitting there from previous terms at all.

I have also long held the view that all funds not spent by the end of the Executive's term to whom the budgeted funds have been approved for, should rightly be returned to the official country account, the Reserve Bank of Australia, by no later than a short period of time before the transition to a new Executive.

The only other argument I can offer in support of this legislative opportunity, which is rare because we are not primarily a legislative party, is that when reaching out between different parties with often different goals occurs and there are base things we agree on - we should cherish it and build on it.

Many thanks for your time folks and have a good one.

Mick Gatto
KHMC Senator