Billion-dollar NSW budget blunders

NSW Treasurer Mike Baird insists the NSW budget is still in deficit despite the auditor-general finding the state is $1 billion better off - partly because of embarrassing accounting and data entry errors.

The deficit of $337 million announced in this year's budget should in fact be a surplus of $680 million, with total revenues $600 million higher and expenses $400 million lower, the audit released on Wednesday found.

Auditor Peter Achterstraat found 37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each.

The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes.

Mr Achterstraat said while much of the variance was down to policy changes since the June budget, such as the recent workers compensation reforms, accuracy of the accounts was a major concern.

"Some departments provide very professional, high quality financial statements, but (from) other departments, it is a bit more rough and ready," he told reporters in Sydney.

"I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable.

"The NSW government is a billion dollar business, it is not a school tuckshop."

Mr Achterstraat said more accurate financial information could have had an influence over government policy - recently marked by billions in cuts to health and education.

"It is a bit like a cricket match," he said.

"If you're the bowling team, and you think the batting team has to get 300 runs, you bowl a certain way.

"Then if you find out five overs later that the people have been giving you the wrong information, you would have bowled in a very different way."

The Labor opposition, Greens and Unions NSW called for a halt to the state's education, health and public sector job cuts, which the government says are needed because of the deteriorating budget position.

But Mr Baird played down the shock surplus, saying once federal grants were taken out of the mix, the state was suffering an underlying deficit.

"It (the surplus) is not there. The underlying position of NSW remains in deficit," he told reporters in Sydney on Wednesday.

"I wish that we were in surplus, I wish there was a sustainable surplus, but the truth of the matter is we remain in deficit."

The government would not reconsider its unpopular education and health cuts, he said.

"The underlying position, when you take away the federal government grants, we are in deficit," he said.

"That's what we are faced with, and we are taking action to address that."

Mr Baird said "anyone would like to see less errors than were reported today", and steps were being taken to improve standards across government.

People could have trust in future financial figures produced by the government, he said.

"From my point of view, I will take every action possible to make sure they (the mistakes) are minimised going forward," he said.

"It is not something that can be done overnight; it is not something that can be done within a year, but will be done as soon as we possibly can."

The Public Service Association (PSA) of NSW agreed that the government's cutbacks should be reversed.

"Disregarding the question of how you lose a billion dollars, this is a welcome surprise for the people of NSW," PSA assistant secretary Steve Turner said.

"It means the O'Farrell government can restore security to 15,000 NSW families by reversing its indiscriminate public sector job cuts."

Link -
http://news.ninemsn.com.au/national/2012/10/31/11/13/nsw-1bn-better-off-after-budget-mistakes
=================================
A few observations -
1) How is it possible, for this to happen?
2) Is it possible, for this to happen?
3) The Auditor-General says, total revenues were $600 million higher and expenses were $400 million lower, than those announced in the NSW budget,  but the NSW Treasurer says once federal grants were taken out of the mix, the state was suffering an underlying deficit.

Let me say this, Government figures need to be above reproach and they need to be accurate, for many reasons.

The Auditor General Refers to many errors in both Revenue & Expenditure whilst the NSW treasurer refers to not including Federal Government grants only.
I would suggest Revenue is Revenue, irrespective of its source and it should be included! 
But that still does not address the $400 million of Expenditure that also got missed?

Quote:

Mr Baird said "anyone would like to see less errors than were reported today", and steps were being taken to improve standards across government. People could have trust in future financial figures produced by the government, he said. "From my point of view, I will take every action possible to make sure they (the mistakes) are minimised going forward," he said. "It is not something that can be done overnight; it is not something that can be done within a year, but will be done as soon as we possibly can."

Perhaps the treasurer should start sacking the people who added up the sums in his budget whilst he looks for a new job???

::) ::) ::)

Rather exposes the lie about how poor an economy they inherited.

By the same token, Swan should then include all expenditure - not just that which may help him get his elusive surplus - such as the NBN, NDIS, school funding, etc, etc. No one truly believe's he'll have a surplus because of blowouts AND his failure to include all expenditure...

Some sanity amongst fools - Peter Costello
http://www.2gb.com/index2.php?option=com_newsmanager&task=view&id=14880

Easy
How it happened was
The governments generous hand outs for the GFC (but there where some Australians didn't even get this)
GFC handouts to people not even living in Australia or dead.

Projects
Julia school halls
Brick bats and Solar schemes (for the wealthy)

Another hand out to compensate the Carbon tax
(well I did get this one)

Oh and Imigration the policy to detain imigrants in detension, seeking assylum in  Australia the cost just gets bigger and bigger.

Thats why the Surplus won't ever come back unless they stop all assistance to those in need, and make the mining companys pay their mining tax.

The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak

But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D

Also remember that this is the reporting system that was left behind by the ALP

Maqqa wrote on Nov 1^st, 2012 at 8:09am:

The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP

There's nothing wrong with the system. It's the numbers that were wrong. The first job of any incoming minister is to go over the books and be quite sure of his departments financial affairs. That's what Libs reckon they're good at.  ;D

The question is blinding -

Why chase a small surplus and engage in a fire-sale, cutting welfare, cutting programmes which can have a long term negative effect?

Why put short term politics over long term economic management?

Why not have the gumption to stand and say that world ore prices have dropped, revenue has fallen therefore a surplus will be delivered later that originally expected?

Short term politics in place of long term economic stable management is a sign of weakness and its idiotic.

Andrei.Hicks wrote on Nov 1^st, 2012 at 8:53am:

The question is blinding - Why chase a small surplus and engage in a fire-sale, cutting welfare, cutting programmes which can have a long term negative effect? Why put short term politics over long term economic management? Why not have the gumption to stand and say that world ore prices have dropped, revenue has fallen therefore a surplus will be delivered later that originally expected? Short term politics in place of long term economic stable management is a sign of weakness and its idiotic.

Labor think the books can never be cooked enough. There will be a surplus, we just need to find something else to hide, bring forward, push back.

Grey wrote on Nov 1^st, 2012 at 8:47am:

Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP There's nothing wrong with the system. It's the numbers that were wrong. The first job of any incoming minister is to go over the books and be quite sure of his departments financial affairs. That's what Libs reckon they're good at.  ;D

I'll let you catch up on recent events given your isolation

Maqqa wrote on Nov 1^st, 2012 at 8:09am:

The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP

It seems you are confused, as usual, Maqqa!

You are mixing large Federal figures, with much smaller State figures.

You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures.

You are also mixing errors, with deliberate choices made for what appears to be purely Political gain. 

You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN.

I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies!

How about you?

So how do we return to surplus?

and don't rave on about better productivity in the people or the workers.

warrigal wrote on Nov 1^st, 2012 at 3:18pm:

So how do we return to surplus? and don't rave on about better productivity in the people or the workers.

We don't, we run a sensible deficit and continue to build sensible infrustructure.

But this won't happen because labor has totally capitulated to the conservatives as has the liberal party.

bugger an election install tony and his meatheads and cancel any vote on anything
Tones all we need.

How do we pay for what our country needs with a deficit?

More money is needed for this and that and things that need to be fixed.

Unemployment for one

warrigal wrote on Nov 1^st, 2012 at 3:37pm:

How do we pay for what our country needs with a deficit? More money is needed for this and that and things that need to be fixed. Unemployment for one

Are you trying to be obtuse?

Anyone ever see a government more desperate to have a deficite?

Dsmithy70 wrote on Nov 1^st, 2012 at 3:48pm:

warrigal wrote on Nov 1st, 2012 at 3:37pm: How do we pay for what our country needs with a deficit? More money is needed for this and that and things that need to be fixed. Unemployment for one Are you trying to be obtuse?

Ok define what you mean by a sensable deficit.

How do we provide services, and asistance to thows in Australia in need

Dnarever wrote on Nov 1^st, 2012 at 3:55pm:

Anyone ever see a government more desperate to have a deficite?

DNA,
That looks like a mixture of Deficit or Deceit?

Of course, maybe it's Both?

And, it seems there us a race away from one (Deficit) & a race towards the other (Deceit)!

warrigal wrote on Nov 1^st, 2012 at 6:27pm:

Dsmithy70 wrote on Nov 1st, 2012 at 3:48pm: warrigal wrote on Nov 1st, 2012 at 3:37pm: How do we pay for what our country needs with a deficit? More money is needed for this and that and things that need to be fixed. Unemployment for one Are you trying to be obtuse? Ok define what you mean by a sensable deficit. How do we provide services, and asistance to thows in Australia in need

Your wish, is my command?


perceptions_now wrote on Oct 31^st, 2012 at 11:44am:

As I have said previously, Debt is a 2 part issue,  Expenditure is 1 & Revenue is another! In order to run an annual Deficit & accrue Debt, Expenditure needs to exceed Revenue. However, Debt in itself is NOT inherently bad and most countries, like individuals & Businesses, will acquire Debt at various points in the Economic cycle. The "trick", to use a "global warming phrase", is to use Debt wisely and run at a Debt which is affordable, at that period in the Economic cycle. In other words, when the Economic cycle is positive and is likely to remain so for some time, then Debt can be a useful way to expand the local economy, by putting the Debt to good use, in ways that will promote Economic activity & Productivity, particularly from the longer term perspective. Equally, Debt incurred during the above phase, should be reduced to manageable levels, before the Economic cycle starts to head South. Personally, I would suggest a net Debt to GDP ratio of something between 5-25%, depending on the point of the Economic cycle was at the time. Ok, back to Expenditure & Revenue. It is not merely a matter of Spending less, in order to convert a Deficit into a Surplus and thereby getting rid of Debt! Why, Well, for all Actions & Inactions, there are Consequences. IF Spending is reduced, it may also reduce Productivity & also Revenue, thus possibly increasing the Deficit/Debt, instead of lowering the Debt. A great deal of care and attention needs to go into what Spending is to be cut, when it will be cut (at what point in the Economic cycle) & how it will be done, in order to keep Productivity & Revenue, as high as possible. Serious consideration also needs to be given to the Revenue side, particularly as the Tax system is inherently too high on basic rates and too low on real Revenue, as the Deduction & avoidance industry allows far too much leeway, for both Business & individuals. In fact, the whole tax system needs to be revamped, to lower tax rates & eradicate the avoidance industry and all sectors need to bear their fair share! To close, the Europeans & the USA have real problems with Debt upwards of 80% of GDP and I do not foresee any way they will recover from their current position, without one hell of an Economic downturn. To give an analogy, most people say, Credit Cards are terrible. However, I use Credit Cards for nearly everything, but then I pay it off (in full) each month. I haven't paid a cent in interest for a long, long time & the Credit Card company even pays me, via their "rewards programs", for using their money. On top of that, I earn extra interest by keeping my money, in my bank accounts, for a longer period. My point? Well, Debt isn't just Debt, there is good Debt & bad Debt! PS - I have heard several commentators remark that the physical Damage & lost Business profits, caused by hurricane Sandy (in the USA) may not be too bad, as those loses may be offset by the spending on Recovery efforts. What these commentators failed to do, was go to the next step, by including in their calculations the effects of the additional Debt that will inevitably be acquired during the recovery phase. Should the US want some ideas on that situation, perhaps they can have a chat to Queensland & OZ Federal Politicians, who have already had some experience in those issues, following cyclone Yasi. As I said earlier, for all Actions & Inactions, there are Consequences.

How would we provide services?
The sad truth is, we probably won't!

If we were going to do that properly, then REAL bipartisan co-operation would need to have stated in the mid 1980's or earlier.
But, it never did, not even anything close to it!

perceptions_now wrote on Nov 1^st, 2012 at 12:32pm:

Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you?

Maqqa,
I'll take you silence, as confirmation that you see things thru rose coloured glasses!

I know, that has already been apparent, but it is now confirmed!

perceptions_now wrote on Nov 2^nd, 2012 at 7:40am:

perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? Maqqa, I'll take you silence, as confirmation that you see things thru rose coloured glasses! I know, that has already been apparent, but it is now confirmed!

Maqqa,
Q. What do you get, when you mix a Politicians Surplus, with a Macca's burger?

A. A short time only Surplus!

perceptions_now wrote on Nov 1^st, 2012 at 12:32pm:

Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you?

No confusion here PN

it comes out in the wash

Facts are the LIBs just took over the budget and discovered it to be full of holes

Labor can't be having a go at LIBs for missing the target when it missed on many occasions

tonys problem with argueing about surpluses is he's a big spender and big government guy himself.

he needs to put his "agenda" on a bit of a diet.

then i will have respect.

Maqqa wrote on Nov 2^nd, 2012 at 3:30pm:

perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions

Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits.

progressiveslol wrote on Nov 2^nd, 2012 at 4:57pm:

Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits.

Maqqa,
I think it was the Auditor General, not Labor!
And, they didn't miss the target, they actually got the target, they just elected to miss the target, for their own reasons, which were SPIN related.


Progs,
According to the Libs, they missed, by having a Deficit, when they actually had a Surplus!

Dnarever wrote on Oct 31^st, 2012 at 9:06pm:

Rather exposes the lie about how poor an economy they inherited.

Im sure you believe it. No many others so.

Plus we are talking here about a SPREADHSEET error - not any actual money.

progressiveslol wrote on Nov 2^nd, 2012 at 4:57pm:

Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits.

Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time.

gold_medal wrote on Nov 2^nd, 2012 at 6:26pm:

progressiveslol wrote on Nov 2nd, 2012 at 4:57pm: Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits. Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time.

Longy,
That's what wasn't heard from the NSW Treasurer, BUT should have been!

And, that's what WAS heard from the NSW Treasurer!

perceptions_now wrote on Nov 2^nd, 2012 at 7:10pm:

gold_medal wrote on Nov 2nd, 2012 at 6:26pm: progressiveslol wrote on Nov 2nd, 2012 at 4:57pm: Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits. Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time. Longy, That's what wasn't heard from the NSW Treasurer, BUT should have been! And, that's what WAS heard from the NSW Treasurer!

IM sure that one day you wil make sense. Alas, today is not the day!

gold_medal wrote on Nov 2^nd, 2012 at 6:23pm:

Dnarever wrote on Oct 31st, 2012 at 9:06pm: Rather exposes the lie about how poor an economy they inherited. Im sure you believe it. No many others so. Plus we are talking here about a SPREADHSEET error - not any actual money.

The NSW economy must have been in a real mess if the Liberals could turn it around by accident before they actually did anything.

It is obvious that it was never as bad at the Libs were telling us.

Dnarever wrote on Nov 2^nd, 2012 at 7:27pm:

gold_medal wrote on Nov 2nd, 2012 at 6:23pm: Dnarever wrote on Oct 31st, 2012 at 9:06pm: Rather exposes the lie about how poor an economy they inherited. Im sure you believe it. No many others so. Plus we are talking here about a SPREADHSEET error - not any actual money. The NSW economy must have been in a real mess if the Liberals could turn it around by accident before they actually did anything. It is obvious that it was never as bad at the Libs were telling us.

Its just the usual lies new govts spew out so they can trash the state or country to teach voters a lesson for keeping them out of power for so long.

gold_medal wrote on Nov 2^nd, 2012 at 7:20pm:

perceptions_now wrote on Nov 2nd, 2012 at 7:10pm: gold_medal wrote on Nov 2nd, 2012 at 6:26pm: progressiveslol wrote on Nov 2nd, 2012 at 4:57pm: Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits. Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time. Longy, That's what wasn't heard from the NSW Treasurer, BUT should have been! And, that's what WAS heard from the NSW Treasurer! IM sure that one day you wil make sense. Alas, today is not the day!

Longy,
Just in case, you haven't looked at the first post of this thread, it may enlighten you.

However, the abbreviated version is, the NSW Auditor General has said that there were many "errors" in both Revenue & Expenditure, in the NSW Budget, as declared by the NSW Treasurer Mike Baird.

So, the deficit of $337 million announced in this year's budget should in fact be a surplus of $680 million.

Therefore, the "oops we have a deficit again", which was declared by the Liberals, should actually have been declared as a Surplus and the obvious reasons for these "errors"are Political SPIN.


It is apparent, particularly when you look at the reasoning given by both the Auditor General & the NSW Treasurer, that they have been caught out!

perceptions_now wrote on Nov 2^nd, 2012 at 8:08pm:

gold_medal wrote on Nov 2nd, 2012 at 7:20pm: perceptions_now wrote on Nov 2nd, 2012 at 7:10pm: gold_medal wrote on Nov 2nd, 2012 at 6:26pm: progressiveslol wrote on Nov 2nd, 2012 at 4:57pm: Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits. Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time. Longy, That's what wasn't heard from the NSW Treasurer, BUT should have been! And, that's what WAS heard from the NSW Treasurer! IM sure that one day you wil make sense. Alas, today is not the day! Longy, Just in case, you haven't looked at the first post of this thread, it may enlighten you. However, the abbreviated version is, the NSW Auditor General has said that there were many "errors" in both Revenue & Expenditure, in the NSW Budget, as declared by the NSW Treasurer Mike Baird. So, the deficit of $337 million announced in this year's budget should in fact be a surplus of $680 million. Therefore, the "oops we have a deficit again", which was declared by the Liberals, should actually have been declared as a Surplus and the obvious reasons for these "errors"are Political SPIN. It is apparent, particularly when you look at the reasoning given by both the Auditor General & the NSW Treasurer, that they have been caught out!

Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of  'mistake' we all dream of!

PN is trying to show he/she understand economics - been doing for years now

The reality is this:

(1) The Auditor General found inconsistencies in the current reporting system

(2) This is the same reporting system Labor have been using for the last 10 years

(3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!!


PN is trying to infer that the LIBs are to be blamed for the current reporting system

Maqqa wrote on Nov 3^rd, 2012 at 8:45am:

PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system

Maqqa..I think you've proved over the years that your only understanding of economics is whatever Coalition propaganda is doing the rounds on the day

adelcrow wrote on Nov 3^rd, 2012 at 9:03am:

Maqqa wrote on Nov 3rd, 2012 at 8:45am: PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system Maqqa..I think you've proved over the years that your only understanding of economics is whatever Coalition propaganda is doing the rounds on the day

based on your perception?!!  ;D ;D ;D

I have thrown down challenges before and none from the left dared to take it up

so until you do - FU

Quote:

Maqqa..I think you've proved over the years that your only understanding of economics is whatever Coalition propaganda is doing the rounds on the day

adelcrow



And yours adelcrow are from what I gather from the posts that you pasted relating to anything economical comes from the dictations of the communist manifesto written by marx and engels a very long long long time ago,    ;D

stryder wrote on Nov 3^rd, 2012 at 9:13am:

Quote: Maqqa..I think you've proved over the years that your only understanding of economics is whatever Coalition propaganda is doing the rounds on the day adelcrow And yours adelcrow are from what I gather from the posts that you pasted relating to anything economical comes from the dictations of the communist manifesto wriiten by karl marx a long long long time ago,    ;D

Actually I copy all my information from my extensive library of books written by the worlds past and present Communist Dictators and their mentors.
:P

Quote:

Actually I copy all my information from my extensive library of books written by the worlds past and present Communist Dictators and their mentors.

adelcrow


I believe you  ;D

Maqqa wrote on Nov 3^rd, 2012 at 8:45am:

PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system

Maqqa,
The REAL Reality, as distinct from the SPIN Reality is  that -
The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each."

The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable.

"The NSW government is a billion dollar business, it is not a school tuckshop."

Mr Achterstraat said more accurate financial information could have had an influence over government policy - recently marked by billions in cuts to health and education.

"It is a bit like a cricket match," he said.

"If you're the bowling team, and you think the batting team has to get 300 runs, you bowl a certain way.

"Then if you find out five overs later that the people have been giving you the wrong information, you would have bowled in a very different way."

The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes."


So Maqqa, it seems obvious that you will not condemn these practices, because of YOUR Political biases!

Whereas I am interested in the facts & how they impact the Public and IF either Liberal or Labor trying to mislead or dupe the Public, I will condemn them! 

And so, on that basis, I say that any state government is NOT a "tuck shop", it is essentially a large & powerful Economic instrument and each has sufficient expertise to ensure a correctly produced set of Budget figures, but perhaps not the Political will, IF the REAL figures don't project the required image/s!

In this instance, the Auditor General has made it clear, that these were not mere "inconsistencies" and IF there are "systemic built in accounting errors", which the Auditor General has not referred to, then it is up to the Party delivering the Budget to find any such "systemic built in accounting errors", fix them and inform the Public.

The Liberals did none of that!

The difference between us is that, IF Labor puts themselves in a similar position, I will condemn them, the same as I condemn the Liberals in this instance based on the Reality of the situation, WHEREAS YOU condemn Labor for everything, BUT simply revert to SPIN for everything Liberal!

gold_medal wrote on Nov 3^rd, 2012 at 7:03am:

perceptions_now wrote on Nov 2nd, 2012 at 8:08pm: gold_medal wrote on Nov 2nd, 2012 at 7:20pm: perceptions_now wrote on Nov 2nd, 2012 at 7:10pm: gold_medal wrote on Nov 2nd, 2012 at 6:26pm: progressiveslol wrote on Nov 2nd, 2012 at 4:57pm: Maqqa wrote on Nov 2nd, 2012 at 3:30pm: perceptions_now wrote on Nov 1st, 2012 at 12:32pm: Maqqa wrote on Nov 1st, 2012 at 8:09am: The Federal ALP makes stuff ups after HUNDREDS of BILLIONS worth of stuff ups with their estimates without PN making a squeak But when the State LIBs make an error of ONE BILLION - OMG it's the end of the world!!!???  :D :D :D Also remember that this is the reporting system that was left behind by the ALP It seems you are confused, as usual, Maqqa! You are mixing large Federal figures, with much smaller State figures. You are also mixing errors made in estimates, to the  incorrect & improper placement &/or non-placement of Real, end of the line figures. You are also mixing errors, with deliberate choices made for what appears to be purely Political gain.  You are also confusing the system, with the incorrect & improper "use" of the system, for SPIN. I would Condemn any Politician &/or Political Party, for incorrect & improper Financial Reporting, SPIN or straight out lies! How about you? No confusion here PN it comes out in the wash Facts are the LIBs just took over the budget and discovered it to be full of holes Labor can't be having a go at LIBs for missing the target when it missed on many occasions Even better, when the libs miss, they miss by giving a surplus. labor miss by giving us worse deficits. Id rather hear 'oops, we actually have a SURPLUS' thann 'oops, we have a deficit... again' which is what we hear from labor all the time. Longy, That's what wasn't heard from the NSW Treasurer, BUT should have been! And, that's what WAS heard from the NSW Treasurer! IM sure that one day you wil make sense. Alas, today is not the day! Longy, Just in case, you haven't looked at the first post of this thread, it may enlighten you. However, the abbreviated version is, the NSW Auditor General has said that there were many "errors" in both Revenue & Expenditure, in the NSW Budget, as declared by the NSW Treasurer Mike Baird. So, the deficit of $337 million announced in this year's budget should in fact be a surplus of $680 million. Therefore, the "oops we have a deficit again", which was declared by the Liberals, should actually have been declared as a Surplus and the obvious reasons for these "errors"are Political SPIN. It is apparent, particularly when you look at the reasoning given by both the Auditor General & the NSW Treasurer, that they have been caught out! Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of  'mistake' we all dream of!

Longy,
Yes, caught out!

The REAL Reality, as distinct from the SPIN Reality is  that -
The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each."

The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable.

"The NSW government is a billion dollar business, it is not a school tuckshop."

Mr Achterstraat said more accurate financial information could have had an influence over government policy - recently marked by billions in cuts to health and education.

"It is a bit like a cricket match," he said.

"If you're the bowling team, and you think the batting team has to get 300 runs, you bowl a certain way.

"Then if you find out five overs later that the people have been giving you the wrong information, you would have bowled in a very different way."

The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes."


So Longy, on that basis, I say that any state government is NOT a "tuck shop", it is essentially a large & powerful Economic instrument and each has sufficient expertise to ensure a correctly produced set of Budget figures, but perhaps not the Political will, IF the REAL figures don't project the required image/s!

In this instance, the Auditor General has made it clear, that these were not mere "inconsistencies" and IF there are "systemic built in accounting errors", which the Auditor General has not referred to, then it is up to the Party delivering the Budget to find any such "systemic built in accounting errors", fix them and inform the Public.

The Liberals did none of that!

In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways.

Maqqa wrote on Nov 3^rd, 2012 at 8:45am:

PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system

GM

Quote:

Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of 'mistake' we all dream of!

They were caught out by around 40 errors + in a spread sheet.

A spreadsheet that the treasurer is responsible for ensuring is correct.

The one where the numbers are added up to form the NSW budget, the end result of the Treasurers year of work.

(1) The Auditor General found inconsistencies in the current reporting system

No the errors were in the budget accounting, this is audited every budget, this is the first time this type of errors have been found.

(2) This is the same reporting system Labor have been using for the last 10 years

Yes with no substantial errors in accounting identified during the audit process.

PN is trying to show he/she understand economics - been doing for years now

PN getting it wrong if he did has no consequences, there they're their is a much greater problem when Mr Baired the NSW treasurer shows us that he is not capable of correctly keeping the states books in order.

Dnarever wrote on Nov 3^rd, 2012 at 12:03pm:

Maqqa wrote on Nov 3rd, 2012 at 8:45am: PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system GM Quote: Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of 'mistake' we all dream of! They were caught out by around 40 errors + in a spread sheet. A spreadsheet that the treasurer is responsible for ensuring is correct. The one where the numbers are added up to form the NSW budget, the end result of the Treasurers year of work. (1) The Auditor General found inconsistencies in the current reporting system No the errors were in the budget accounting, this is audited every budget, this is the first time this type of errors have been found. (2) This is the same reporting system Labor have been using for the last 10 years Yes with no substantial errors in accounting identified during the audit process. PN is trying to show he/she understand economics - been doing for years now PN getting it wrong if he did has no consequences, there they're their is a much greater problem when Mr Baired the NSW treasurer shows us that he is not capable of correctly keeping the ststes books in order.

IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae.

gold_medal wrote on Nov 3^rd, 2012 at 12:14pm:

IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae.

Mocking - it goes to competence - he apparently has none?

This asks a lot of question especially with the Libs still denying a surplus?

Were the errors intentional or is he really incompetent?

The suggested surplus was literally not achievable had the economy been in as bad a shape as they have assured us that it was in, they were clearly telling us lies and have been caught out badly.

The only reason they would want a bad result is so that they can justify doing some more nasty things and to distance the Labor government from the positive result.

gold_medal wrote on Nov 3^rd, 2012 at 11:57am:

In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways.

Longy,
You still have that read difficulty -

The REAL Reality is  that -
The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each."

The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable.

"The NSW government is a billion dollar business, it is not a school tuckshop."

The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes."

Like Maqqa, your bias is showing!

Dnarever wrote on Nov 3^rd, 2012 at 12:31pm:

gold_medal wrote on Nov 3rd, 2012 at 12:14pm: IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae. Mocking - it goes to competence - he apparently has none? This asks a lot of question especially with the Libs still denying a surplus? Were the errors intentional or is he really incompetent? The suggested surplus was literally not achievable had the economy been in as bad a shape as they have assured us that it was in, they were clearly telling us lies and have been caught out badly. The only reason they would want a bad result is so that they can justify doing some more nasty things and to distance the Labor government from the positive result.

It would seem the logical answers are -
Yes!
Yes!
Yes!
& Yes!

perceptions_now wrote on Nov 3^rd, 2012 at 2:03pm:

gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing!

Your ignorance is abundantly clear

gold_medal wrote on Nov 3^rd, 2012 at 12:14pm:

Dnarever wrote on Nov 3rd, 2012 at 12:03pm: Maqqa wrote on Nov 3rd, 2012 at 8:45am: PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system GM Quote: Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of 'mistake' we all dream of! They were caught out by around 40 errors + in a spread sheet. A spreadsheet that the treasurer is responsible for ensuring is correct. The one where the numbers are added up to form the NSW budget, the end result of the Treasurers year of work. (1) The Auditor General found inconsistencies in the current reporting system No the errors were in the budget accounting, this is audited every budget, this is the first time this type of errors have been found. (2) This is the same reporting system Labor have been using for the last 10 years Yes with no substantial errors in accounting identified during the audit process. PN is trying to show he/she understand economics - been doing for years now PN getting it wrong if he did has no consequences, there they're their is a much greater problem when Mr Baired the NSW treasurer shows us that he is not capable of correctly keeping the ststes books in order. IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae.

But, the excel spreadsheets, really aren't that difficult!

Maqqa wrote on Nov 3^rd, 2012 at 2:07pm:

perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear

Really?
How so?

perceptions_now wrote on Nov 3^rd, 2012 at 2:10pm:

Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so?

Let's start with the facts first:

(1) Took over the Budget after 16 years of Labor rule

(2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011


His only error was to assume Labor was competent and honest in the Budgeting

Maqqa wrote on Nov 3^rd, 2012 at 2:25pm:

perceptions_now wrote on Nov 3rd, 2012 at 2:10pm: Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so? Let's start with the facts first: (1) Took over the Budget after 16 years of Labor rule (2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011 His only error was to assume Labor was competent and honest in the Budgeting

The truth is Labor left the NSW treasury in much better shape than the Libs were willing to admit.

Maqqa wrote on Nov 3^rd, 2012 at 2:25pm:

perceptions_now wrote on Nov 3rd, 2012 at 2:10pm: Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so? Let's start with the facts first: (1) Took over the Budget after 16 years of Labor rule (2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011 His only error was to assume Labor was competent and honest in the Budgeting

(1) Is Irrelevant!

(2) The REAL Reality is  that -
The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each."

The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable.

"The NSW government is a billion dollar business, it is not a school tuckshop."

The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes."

It seems you may be growing older, but you certainly are not getting any smarter or wiser!

According to the Auditor General, there were many "errors" and they relate to how the 2011-2012 Budget was done, no more, no less!

As I have said previously, on many occasions, I am an equal opportunity employer, so when I see Labor stuff up, like the Libs have here, I will treat them similarly!

Now, IF that's the best you've got, then you've got nothin!

adelcrow wrote on Nov 3^rd, 2012 at 2:42pm:

Maqqa wrote on Nov 3rd, 2012 at 2:25pm: perceptions_now wrote on Nov 3rd, 2012 at 2:10pm: Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so? Let's start with the facts first: (1) Took over the Budget after 16 years of Labor rule (2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011 His only error was to assume Labor was competent and honest in the Budgeting The truth is Labor left the NSW treasury in much better shape than the Libs were willing to admit.

That would seem to be the case!
They may not have been as good as they should have been, but  they were better than the image, the Liberals wanted to push!

perceptions_now wrote on Nov 3^rd, 2012 at 2:46pm:

adelcrow wrote on Nov 3rd, 2012 at 2:42pm: Maqqa wrote on Nov 3rd, 2012 at 2:25pm: perceptions_now wrote on Nov 3rd, 2012 at 2:10pm: Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so? Let's start with the facts first: (1) Took over the Budget after 16 years of Labor rule (2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011 His only error was to assume Labor was competent and honest in the Budgeting The truth is Labor left the NSW treasury in much better shape than the Libs were willing to admit. That would seem to be the case! They may not have been as good as they should have been, but  they were better than the image, the Liberals wanted to push!

So why blame the LIBs for these errors?

Because it suits your political bias rather than reinforce your economic integrity

Maqqa wrote on Nov 3^rd, 2012 at 3:21pm:

perceptions_now wrote on Nov 3rd, 2012 at 2:46pm: adelcrow wrote on Nov 3rd, 2012 at 2:42pm: Maqqa wrote on Nov 3rd, 2012 at 2:25pm: perceptions_now wrote on Nov 3rd, 2012 at 2:10pm: Maqqa wrote on Nov 3rd, 2012 at 2:07pm: perceptions_now wrote on Nov 3rd, 2012 at 2:03pm: gold_medal wrote on Nov 3rd, 2012 at 11:57am: In true pinhead style... blame the Libs for an ACTUAL surplus and a spreadsheet error but ignore Labors massive over-spending and deficit ways. Longy, You still have that read difficulty - The REAL Reality is  that - The Auditor General said, there were "37 errors greater than $20 million in his examination of the 2011-12 accounts, including two mistakes worth more than $1 billion each." The Auditor General also said, ""I would say a $1 million error is unfortunate. A $10 million error is undesirable. But a $100 million error is totally unacceptable. "The NSW government is a billion dollar business, it is not a school tuckshop." The blunders included errors in spreadsheets, data entry, end of year accruals and reconciliation processes." Like Maqqa, your bias is showing! Your ignorance is abundantly clear Really? How so? Let's start with the facts first: (1) Took over the Budget after 16 years of Labor rule (2) Made a error of judgement not to do an audit of the Budgeting system that was left to him in 2011 His only error was to assume Labor was competent and honest in the Budgeting The truth is Labor left the NSW treasury in much better shape than the Libs were willing to admit. That would seem to be the case! They may not have been as good as they should have been, but  they were better than the image, the Liberals wanted to push! So why blame the LIBs for these errors? Because it suits your political bias rather than reinforce your economic integrity

1) Because it was the Libs that caused the "errors" to be made.
2) Because many people & Business take their lead, from their perceptions of things, such as how the Economy is tracking & IF Budgets, Liberal or Labor & State or Federal, deliberately screw with Budget & other figures, then they may well also screw with the proper directions that individuals & Business may well have taken!

As I have said on many previously occasion, I am an equal opportunity employer & my preference is to Sack ALL incumbents and together, we can make a new start!

That's my Political & Economic integrity and YOURS IS MORE PARTY POLITICAL SPIN!

perceptions_now wrote on Nov 3^rd, 2012 at 2:09pm:

gold_medal wrote on Nov 3rd, 2012 at 12:14pm: Dnarever wrote on Nov 3rd, 2012 at 12:03pm: Maqqa wrote on Nov 3rd, 2012 at 8:45am: PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system GM Quote: Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of 'mistake' we all dream of! They were caught out by around 40 errors + in a spread sheet. A spreadsheet that the treasurer is responsible for ensuring is correct. The one where the numbers are added up to form the NSW budget, the end result of the Treasurers year of work. (1) The Auditor General found inconsistencies in the current reporting system No the errors were in the budget accounting, this is audited every budget, this is the first time this type of errors have been found. (2) This is the same reporting system Labor have been using for the last 10 years Yes with no substantial errors in accounting identified during the audit process. PN is trying to show he/she understand economics - been doing for years now PN getting it wrong if he did has no consequences, there they're their is a much greater problem when Mr Baired the NSW treasurer shows us that he is not capable of correctly keeping the ststes books in order. IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae. But, the excel spreadsheets, really aren't that difficult!

you think it was one sheet of 25 cells?

have you ever used excel to do more than add up a table of items?

gold_medal wrote on Nov 3^rd, 2012 at 4:39pm:

perceptions_now wrote on Nov 3rd, 2012 at 2:09pm: gold_medal wrote on Nov 3rd, 2012 at 12:14pm: Dnarever wrote on Nov 3rd, 2012 at 12:03pm: Maqqa wrote on Nov 3rd, 2012 at 8:45am: PN is trying to show he/she understand economics - been doing for years now The reality is this: (1) The Auditor General found inconsistencies in the current reporting system (2) This is the same reporting system Labor have been using for the last 10 years (3) This is the same system that produced deficits under a Labor government but produced a surplus under a LIB government - why is that??!! PN is trying to infer that the LIBs are to be blamed for the current reporting system GM Quote: Caught out??? They were 'caught out' by an error in a spreadsheet - hardly the stuff of legend in the world of govt mistakes. and this mistake meant they were actually in SURPLUS. Its like redoing your personal accounts and finding $10,000 extra. Its the kind of 'mistake' we all dream of! They were caught out by around 40 errors + in a spread sheet. A spreadsheet that the treasurer is responsible for ensuring is correct. The one where the numbers are added up to form the NSW budget, the end result of the Treasurers year of work. (1) The Auditor General found inconsistencies in the current reporting system No the errors were in the budget accounting, this is audited every budget, this is the first time this type of errors have been found. (2) This is the same reporting system Labor have been using for the last 10 years Yes with no substantial errors in accounting identified during the audit process. PN is trying to show he/she understand economics - been doing for years now PN getting it wrong if he did has no consequences, there they're their is a much greater problem when Mr Baired the NSW treasurer shows us that he is not capable of correctly keeping the ststes books in order. IM not saying the Treasurer doesnt deserve some mocking. But at the end of they day they have a REAL surplus and the spreadsheet is of little consequence. The bills are paid in $ - not excel cell formulae. But, the excel spreadsheets, really aren't that difficult! you think it was one sheet of 25 cells? have you ever used excel to do more than add up a table of items?

Longy,
Grow up!

It has nothing to do with the excel spread sheet, as has been clearly indicated, by the Auditor General!

Maqqa wrote on Nov 3^rd, 2012 at 3:21pm:

So why blame the LIBs for these errors?

Because they are very serious errors and because the Liberals obviously made them.

There is a treasurer and his only job at the end of the day is to ensure that they get this process right, he has all year to make sure that the budget he presents is correct.

You would be having a picnic and simultaneous coronary had Labor failed so dismally.

Dnarever wrote on Nov 3^rd, 2012 at 7:35pm:

Maqqa wrote on Nov 3rd, 2012 at 3:21pm: So why blame the LIBs for these errors? Because they are very serious errors and because the Liberals obviously made them. There is a treasurer and his only job at the end of the day is to ensure that they get this process right, he has all year to make sure that the budget he presents is correct. You would be having a picnic and simultaneous coronary had Labor failed so dismally.

That is correct! Although, hopefully the Treasurer does a few other things, as well as getting the Budget process & figures correct!

And, IF/WHEN Labor does something similar and given that I am an equal opportunity employer, they will also get similar treatment for me!   

Baird enlists auditor on NSW budget

NSW Treasurer Mike Baird has enlisted the help of the auditor-general to improve the state's financial reporting following accounting errors amounting to more than $1 billion.

Last month, Auditor-General Peter Achterstraat found 37 errors greater than $20 million in his examination of the 2011-12 state accounts, including two mistakes amounting to more than $1 billion.

The blunders included errors in spreadsheets, data entry, end-of-year accruals and reconciliation processes.

The report found the overall budget was $1 billion better off than expected.
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On Tuesday, Mr Baird described the errors as "completely unacceptable" and said they confirmed a "significant weaknesses in financial reporting systems" across the whole of government.

Mr Baird also said Mr Achterstraat had agreed to review the upcoming budget half-year review and 2013-14 state budget, review the past financial management performance of all government agencies and resolve the errors in the 2011-12 accounts.

Link-
http://news.brisbanetimes.com.au/breaking-news-national/baird-enlists-auditor-on-nsw-budget-20121106-28ure.html
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Well, it seems that the NSW Treasurer may be moving towards redemption?

Even if some on here were unwilling to admit there was even a problem!

I blame the Labor Party for the mistakes the Libs have made in NSW...If they hadn't lost the last election it wouldn't have happened  ;D