Election 2013 Western Australia March 9

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iT Matters State Finances

More Buswell Mid Year Review Financial Trickery

Buswell has taken an approach to some expenditure in the 2012/13 Mid Year Financial Review of pretending it is not there.

Amazingly $43m has been excluded from the 2012/13 expenses.

Costs associated with facilities management, that is the running costs, with the new Fiona Stanley Hospital despite being in the 2012/13 budget are not to be accounted for in expenses in 2012/13.

These monies will be spent however Treasurer Buswell has seen some clever accounting invoked and they will NOT be included in 2012/13 expenses, instead will be slipped into the Balance Sheet. Pretending it is more like buying a property.

Further alarms bells sound with the statement in the MYR produced by Timothy Marney Under Treasurer in relation to this accounting anomaly,

'2012-13 Budget .. is subject to audit by the Office of the Auditor General to ensure the financial statements represent a true and fair view and are prepared in accordance with accounting standards.'

This appears to come about by this massaging of figures for Buswell.

The effect of this non accounting of the $43m in the expenses is the Treasurer gets to have $43m more in the $140m Operating Surplus presented to WA taxpayers.

What is not clear in the documentation is who was responsible for this accounting situation occurring.

The MYR and 2102/13 budget are somewhat complex and long documents without all the detail to make informed decisions.

It appears from our review that in addition to the money not being included in the 2012/13 expenses that the money budgeted has been left in the budget, and will be consumed by general over spending.

The #wa2013vote website will be kept online so politicians promises and statements can be checked until the end of next WA election in 2017, and after.