Defence: Accounts

Senator Johnston asked the Minister representing the Minister for Defence, upon notice, on 13 November 2008:

For each agency within the responsibility of the Minister:

1. (a) In the period 1 April to 30 September 2008, what discussions or meetings were conducted regarding the Government’s ‘Razor Gang Mk II’; and (b) has the razor gang indicated any cuts or savings to be made by the department or agency.
2. (a) What special accounts does the agency currently hold; (b) as at 30 September 2008, how much is in these accounts; (c) does the agency use the interest from these accounts to fund ongoing operations; and (d) has the razor gang given any indication about the future of these accounts.

Senator Faulkner - The Minister for Defence has provided the following answer to the honourable senator's question:

1.  
   1. None.
   2. No.
2.  
   1. and b. Please see below.
      
      

      Account Name	Balance
      Defence Endowments Account (Defence)	$300,465
      Fedorczenko Legacy Fund Account (Defence)	$156,055
      Other Trust Moneys Account (Defence)	$2,410,976
      Services for Other Governments and Non-Agency Bodies Account (Defence)	$49,891,983
      Young Endeavour Youth Program Operating Fund Account (Defence)	$897,945
      Defence Material Special Account (DMO)	$7,781,661,966
      Other Trust Money – Defence Materiel Organisation Special (DMO)	$809,205

   3. No.  Where the benefit of interest earned is retained, as is the case for the Defence Endowments Account and the Fedorczenko Legacy Fund Account, it is used in accordance with the purpose of the account. In regard to the Young Endeavour Youth (YEY) Program Operating Fund Account, approval has been sought from the Minister for Finance and Deregulation to have interest equivalency payments made to the account. When first established, the YEY Program Trust Deed envisaged that the interest earned on monies collected from the public would be applied to further YEY Program activities.
   4. No.

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