27AA   Content of Budget Papers

(1)  The budget aggregates relating to the general government sector are to be for a 6-year period comprising the Budget year, the 2 prior years and the 3 forward years.

(2)  The Budget Papers are to include the following:

(a)  a Budget policy statement that includes the following:

(i)  the matters required to be included in the Budget Papers by section 8 of the Fiscal Responsibility Act 2012,

(ii)  4-year projections (being for the Budget year and 3 forward years) of all major economic and financial variables,

(b)  revised estimates for the year prior to the budget year, and an explanation of any significant variations in major aggregates from the Budget estimates for that year, for the general government sector,

(c)  information about the results and services and total expenses of each service group,

(d)  financial statements prepared in accordance with the Uniform Presentation Framework,

(e)  the following financial statements:

(i)  a statement of financial position for the general government sector,

(ii)  an operating statement for the general government sector,

(iii)  a cash flow statement for the general government sector.

(f)  (Repealed)

(3)  The Budget Papers may include any other matters.

(4)  In this section, Uniform Presentation Framework means the framework for financial reporting:

(a)  that is based on reporting conventions for the time being of the Australian Bureau of Statistics for its GFS reporting, and

(b)  that is agreed by the Australian Loan Council from time to time.