The ACT government should be more up front about its superannuation liability, which brings the territory's deficit above $1 billion, a committee has recommended.
The territory government reported a $782 million budget deficit in their mid-year budget review, released last month.
But this is based on the government's headline net operating balance measurement which does not include the territory's superannuation liability. When this is included the government's deficit is $1.02 billion.
The measure including the superannuation liability is known as the uniform presentation framework.
The uniform presentation framework appeared on page 115 of the mid-year budget review. The headline net operating balance is on page 10.
The Legislative Assembly's public accounts committee said the government should report the uniform presentation framework alongside the headline net operating balance.
The committee said, in a report into the mid-year budget, all other Australian jurisdictions used the uniform presentation framework as the main measure of deficit and surplus.
"The ACT government is the only jurisdiction in Australia which uses the headline net operating balance as its main measure of deficit and surplus," the committee's report said.
"The committee observes that expected returns from the territory's superannuation provision account cannot be used to pay for infrastructure, debt or general government spending."
The committee also recommended the government provide further context in budget papers about the difference.
Opposition Leader Elizabeth Lee said she welcomed the recommendation, saying Chief Minister and Treasurer Andrew Barr had to be more upfront about the "true size of his deficit".
"Since becoming treasurer, Andrew Barr has not been upfront with Canberrans about the true position of the ACT's finances," she said.
"I urge the government to accept this recommendation."
ACT under treasurer Stuart Hocking told a hearing last week the territory does not include this as it reflected the territory's superannuation arrangements, which are different to the states.
"We have quite unique superannuation arrangements in that it is an old Commonwealth scheme and not our scheme and so the uniform treatment does disadvantage us compared to other states and territories in the ways those super returns are presented and that's why we focus on the headline net operating balance," he said.
