Quarterly Financial Statement - December 2012

The net operating balance of the General Government Sector as at the December 2012 quarter was a savings of $6.367 million, representing an increase of $5.6 million on the 2012/13 budget estimates.

Overall, revenue was $3.3 million higher than the 2012/13 budget estimate and operating expenditure was lower than the $2.3 million than the 2012/13 budget estimate.

Prudence needs to be exercised when analysing these figures as revenues and expenses do vary from quarter to quarter and it is difficult to identify any obvious trend after six months.