8   Monthly statements and half-yearly reviews

(1)  The Treasurer is to publicly release a statement for each month (a monthly statement), by the end of the following month, setting out the budget time projections and year-to-date balances for the major general government sector aggregates disclosed in the Budget.

(2)  The Treasurer may delay the release of a monthly statement if, at or near the time at which the statement would otherwise be released, other key reporting documents are (or are to be) released, such as the Budget, the half-yearly review (referred to in subsection (3)), the consolidated financial statements and the general government sector financial statements.

(3)  The Treasurer is to publicly release a statement (the half-yearly review) by 31 December in each year containing:

(a)  revised projections for the current financial year and an explanation of any significant variation in those revised projections from the original budget time projections, and

(b)  revised forward estimates, for major aggregates, over 3 years, and

(c)  the latest economic projections for the current financial year and an explanation of any significant variation from the budget time projections contained in the Budget Papers.

(4)  The half-yearly review is to be based on actual results as at the end of the previous October.

(5)  The Treasurer may determine to change the presentation in a monthly statement or the half-yearly review from that adopted in the preceding Budget.

(6)  The Treasurer is to present a copy of a determination made under subsection (5) to the Legislative Assembly on a day within 14 days after making the determination, if the Legislative Assembly is sitting on that day.

(7)  If at the time when the Treasurer seeks to present a copy of a determination to the Legislative Assembly the Legislative Assembly is not sitting, the Treasurer is to present a copy of the determination to the Clerk of the Legislative Assembly to be dealt with in accordance with section 63C.

(8)  The Treasurer may include such other matters in a monthly statement or the half-yearly review as the Treasurer determines.