Section 1: Agency overview and resources
1.1 Strategic direction
There has been no significant change to the strategic direction of the Department of the Treasury (the Treasury) from that outlined in the Portfolio Budget Statements 2012-13 (pages 15-17).
The Treasury is seeking $3.7 million in departmental funding through Appropriation Bill (No. 3) 2012-13. This comprises an additional $4.5 million which is offset by a reduction of $0.8 million.
The additional $4.5 million relates to:
- Lowy Institute for International Policy — establishment of a G20 Studies Centre ($2.0 million) and the Energy Security ($0.3 million) measures outlined in the Mid-Year Economic and Fiscal Outlook 2012-13;
- $1.9 million brought forward from 2013-14 for the re-profiling of funding associated with Australia hosting the Group of 20 in 2014; and
- $0.3 million for supplementation for fringe benefits tax changes to living-away-from-home allowances and benefits.
This funding is offset by a reduction of $0.8 million that relates to:
- $0.01 million for the Fire Service Levy — reduction measure outlined in Budget Paper No. 2, Budget Measures 2012-13; and
- $0.8 million for the Targeted savings — public service efficiencies measure outlined in the Mid-Year Economic and Fiscal Outlook 2012-13.
The Treasury is also seeking an additional $14.9 million in administered items through Appropriation Bill (No. 3) 2012-13. This relates to:
- $13.9 million for Official development assistance — support for low income countries through the Poverty Reduction and Growth Trust; and
- $1.0 million for the Superannuation Consumer Centre — investment fund measure outlined in the Mid-Year Economic and Fiscal Outlook 2012-13.
1.2 Agency resource statement
Table 1.1 shows the total resources from all origins. The table summarises how resources will be applied by outcome and departmental classification.
| Estimates as at Budget 2012-13 $'000 |
+ | Proposed Additional Estimates 2012-13 $'000 |
= | Total estimate at Additional Estimates 2012-13 $'000 |
Total available appropriation 2011-12 $'000 |
||
|---|---|---|---|---|---|---|---|
| Ordinary annual services | |||||||
| Departmental | |||||||
| Prior year departmental appropriation | 51,933 | - | 51,933 | - | |||
| Departmental appropriation1 | 175,348 | 3,666 | 2 | 179,014 | 156,615 | ||
| Receipts from other sources (s31) | 12,610 | 270 | 12,880 | 13,159 | |||
| Total departmental | 239,891 | 3,936 | 243,827 | 169,774 | |||
| Administered expenses | |||||||
| Administered appropriation | 5,175 | 14,928 | 2 | 20,103 | 14,987 | ||
| Total administered expenses | 5,175 | 14,928 | 20,103 | 14,987 | |||
| Total ordinary annual services | A | 245,066 | 18,864 | 263,930 | 184,761 | ||
| Other services | |||||||
| Departmental non-operating | |||||||
| Equity injections | 1,839 | - | 1,839 | 583 | |||
| Total | 1,839 | - | 1,839 | 583 | |||
| Administered non-operating | |||||||
| Administered assets and liabilities Outcome 1 | 57,000 | - | 57,000 | 62,708 | |||
| Total | 57,000 | - | 57,000 | 62,708 | |||
| Total other services | B | 58,839 | - | 58,839 | 63,291 | ||
| Total available annual appropriations (A + B) | 303,905 | 18,864 | 322,769 | 248,052 | |||
| Special appropriations | |||||||
| Asian Development Bank (Additional Subscription) Act 2009 | 15,040 | 1,199 | 16,239 | 15,168 | |||
| Federal Financial Relations Act 2009 | 68,959,642 | (303,166) | 68,656,476 | 65,627,132 | |||
| International Monetary Agreements Act 1947 | 2,029,872 | (291,764) | 1,738,108 | 956,257 | |||
| Superannuation Industry (Supervision) Act 1993 |
- | 16,720 | 16,720 | - | |||
| Total special appropriations | C | 71,004,554 | (577,011) | 70,427,543 | 66,598,557 | ||
| Total appropriations excluding special accounts (A+B+C) | 71,308,459 | (558,147) | 70,750,312 | 66,846,609 | |||
| Special accounts | |||||||
| Opening balance | 2,282 | - | 2,282 | 2,149 | |||
| Appropriation receipts | - | - | - | - | |||
| Non-appropriation receipts to special accounts | 10,943,686 | (342,645) | 10,601,041 | 21,576,440 | |||
| Total special account | D | 10,945,968 | (342,645) | 10,603,323 | 21,578,589 | ||
| Total resourcing (A+B+C+D) | 82,254,427 | (900,792) | 81,353,635 | 88,425,198 | |||
| Less receipts from other sources credited to special accounts | 1,629 | - | 1,629 | 1,842 | |||
| Total net resourcing for the Treasury | 82,252,798 | (900,792) | 81,352,006 | 88,423,356 |
1 Includes $5.2 million in 2012-13 for the departmental capital budget (also refer to Table 3.2.5).
2 Appropriation Bill (No. 3) 2012-13 — includes $2.259 million that was recognised as revenue in 2011-12.
1.3 Agency measures table
Table 1.2 summarises new Government measures taken since the 2012-13 Budget.
| Program | 2012-13 $'000 |
2013-14 $'000 |
2014-15 $'000 |
2015-16 $'000 |
|
|---|---|---|---|---|---|
| Expense measures | |||||
| Asia Pacific Financial Forum | 1.1 | 250 | - | - | - |
| Energy Security(a) | 1.1 | - | - | - | - |
| Fire Service Levy ‑ reduction(b) | 1.1 | (14) | (15) | (15) | (15) |
| Lowy Institute for International Policy ‑ establishment of a G20 Studies Centre(c) | 1.1 | - | - | 1,000 | 1,000 |
| Targeted savings ‑ public service efficiencies | 1.1 | (779) | (879) | (745) | (646) |
| Women on Boards Accelerator Program | 1.1 | - | - | - | - |
| Australia in the Asian Century(d) | 1.1 | - | - | 3,243 | 3,300 |
| Official development assistance ‑ support for low income countries through the Poverty Reduction and Growth Trust(d) | 1.2 | - | - | - | - |
| Superannuation ‑ further financialassistance grants to compensatefund members for the collapse of Trio(d) | 1.3 | 16,720 | - | - | - |
| Superannuation Consumer Centre ‑ investment fund | 1.3 | 1,000 | 2,000 | 7,000 | - |
| Customs' compliance assurance system ‑ expansion | 1.4 | - | 7,600 | 7,600 | 7,600 |
| Fringe benefits tax | |||||
| - reform of living‑away‑from‑home allowances and benefits | 1.4 | 660 | - | - | - |
| - removal of concessional treatment of 'in‑house' fringe benefits if accessed through a salary sacrifice arrangement | 1.4 | 5,000 | 10,000 | 35,000 | 35,000 |
| GST | |||||
| - reforms to the GST margin scheme | 1.4 | - | - | - | - |
| - restrictions on GST refunds ‑ revisions and changed start date | 1.4 | - | .. | 6,000 | 6,000 |
| Indirect Tax Concession Scheme ‑ diplomatic and consular concessions | 1.4 | .. | .. | .. | .. |
| Tax compliance ‑ maintaining the integrity of the tax and superannuation system | 1.4 | 61,800 | 6,000 | 6,200 | 6,300 |
| Tax laws ‑ miscellaneous amendments | 1.4 | .. | .. | .. | .. |
| Construction of a safe anchorage at Mission Beach ‑ contribution | 1.10 | - | - | - | - |
| Dental health reform ‑ NationalPartnership Agreement for adult public dental services | 1.10 | - | - | 200,000 | 29 5,000 |
| Health and Hospitals Fund ‑ Queensland Regional Acute/Subacute/Extended InpatientMental Health Services project ‑ cancellation | 1.10 | (1,931) | (2,823) | (5,406) | (9,981) |
| Macquarie Point Railyards Precinct ‑ remediation | 1.10 | - | - | - | - |
| Nation Building 2 Program ‑ Northern Territory Regional Roads Productivity Package | 1.10 | - | - | - | - |
| Nation Building Program ‑ Kennedy Highway road projects | 1.10 | - | - | - | - |
| National Immunisation Program ‑ extended listing of Gardasil® | 1.10 | (17,719) | (17,664) | (17,511) | (17,541) |
| Parenting Payment recipients ‑ additional training support for grandfathered recipients | 1.10 | - | - | - | - |
| Queensland reconstruction ‑ funding the use of local council day labour | 1.10 | - | 11,230 | 7,182 | - |
| Schools ‑ Literacy and Numeracy National Partnership ‑ extension | 1.10 | - | - | - | - |
| Tasmania's Health System ‑ additional funding | 1.10 | 31,941 | 46,732 | 49,565 | 40,022 |
| Trade Training Centres in Schools program ‑ extension and rephasing | 1.10 | - | 9,084 | (48,141) | (115,758) |
| Related revenue | |||||
| Asia Pacific Financial Forum | 1.1 | 250 | - | - | - |
| Women on Boards Accelerator Program | 1.1 | - | - | - | - |
Note: Details of these measures, except for those denoted (b) and (d), are in the Mid-Year Economic and Fiscal Outlook 2012-13.
(a) The Treasury is to receive $0.3 million in 2012-13 that was recognised as revenue in 2011-12.
(b) This measure was included in Budget Paper No. 2, Budget Measures 2012-13.
(c) The Treasury is to receive $2.0 million in 2012-13 that was recognised as revenue in 2011-12.
(d) This measure was agreed after the Mid-Year Economic and Fiscal Outlook.
1.4 Additional estimates and variations
Table 1.3 details the additional estimates resulting from new measures since the 2012-13 Budget. Table 1.4 details the additional estimates resulting from other variations since the 2012-13 Budget.
| Program impacted |
2012-13 $'000 |
2013-14 $'000 |
2014-15 $'000 |
2015-16 $'000 |
|
|---|---|---|---|---|---|
| Outcome 1 | |||||
| Increase in estimates (departmental) | |||||
| Energy Security | 1.1 | 259 | - | - | - |
| Lowy Institute for International Policy ‑ establishment of a G20 Studies Centre | 1.1 | 2,000 | - | 1,000 | 1,000 |
| Decrease in estimates (departmental) | |||||
| Fire Service Levy ‑ reduction | 1.1 | (14) | (15) | (15) | (15) |
| Targeted savings ‑ public service efficiencies | 1.1 | (779) | (879) | (745) | (646) |
| Net impact on estimates for Outcome 1 (departmental) | 1,466 | (894) | 240 | 339 | |
| Outcome 1 | |||||
| Increase in estimates (administered) | |||||
| Official development assistance ‑ support for low income countries through the Poverty Reduction and Growth Trust | 1.2 | 13,928 | - | - | - |
| Superannuation Consumer Centre ‑ investment fund | 1.3 | 1,000 | 2,000 | 7,000 | - |
| Net impact on estimates for Outcome 1 (administered) | 14,928 | 2,000 | 7,000 | - |
| Program impacted |
2012-13 $'000 |
2013-14 $'000 |
2014-15 $'000 |
2015-16 $'000 |
Outcome 1 |
|---|---|---|---|---|---|
| Increase in estimates (departmental) | |||||
| Australia to host the Group of 20 in 2014 - rephasing | 1.1 | 1,878 | (14,552) | 12,674 | - |
| Supplementation for fringe benefits tax changes to living‑away‑from‑home allowances and benefits | 1.1 | 322 | 663 | 1,194 | 1,230 |
| Net impact on estimates for Outcome 1 (departmental) | 2,200 | (13,889) | 13,868 | 1,230 |
1.5 Breakdown of additional estimates by Appropriation Bill
The following table details the additional estimates sought for the Treasury through Appropriation Bill N
o. 3. The Treasury is not seeking funding through Appropriation Bill No. 4.
| 2011-12 available $'000 |
2012-13 budget $'000 |
2012-13 revised $'000 |
Additional estimates $'000 |
Reduced estimates $'000 |
|
|---|---|---|---|---|---|
| Outcome 1: Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations | |||||
| Departmental items | 156,615 | 175,348 | 179,014 | 3,666 | - |
| Administered items | 14,987 | 5,175 | 20,103 | 14,928 | - |
| Total | 171,602 | 180,523 | 199,117 | 18,594 | - |
Section 2: Revisions to agency outcomes and planned performance
2.1 Resources and performance information
There has been no change to outcomes or the outcome strategy for the Treasury from that included in the Portfolio Budget Statements 2012-13 (pages 24-25).
There has been no change to the program objective, expenses, deliverables or key performance indicators for program 1.2 and programs 1.4 to 1.10 that affect Appropriation Bills No. 3 and No. 4.
Programs 1.4 to 1.10 relate to Australia’s Federal Relations. Further details of Australia’s Federal Relations are on pages 72 to 153 of the Mid-Year Economic and Fiscal Outlook 2012-13.
| Outcome 1: Informed decisions on the development and implementation of policies to improve the wellbeing of the Australian people, including by achieving strong, sustainable economic growth, through the provision of advice to government and the efficient administration of federal financial relations |
2011-12
Actual |
2012-13 Revised estimated expenses $'000 |
|---|---|---|
| Program 1.1: Department of the Treasury | ||
| Departmental expenses | ||
| Departmental appropriations1 | 177,185 | 182,788 |
| Special accounts | 1,709 | 1,629 |
| Expenses not requiring appropriation2 | 13,944 | 13,571 |
| Administered expenses | ||
| Other services (Appropriation Bills No. 1 and No. 3) | 11,121 | - |
| Expenses not requiring appropriation | 964,705 | 108,025 |
| Total for Program 1.1 | 1,168,664 | 306,013 |
| Program 1.3: Support for Markets and Business | ||
| Administered expenses | ||
| Other services (Appropriation Bills No. 1 and No. 3) | 2,717 | 22,895 |
| Total for Program 1.3 | 1,168,664 | 22,895 |
| 2011-12 | 2012-13 | |
| Average staffing level (number) | 1,007 | 919 |
1 Departmental appropriations combine ordinary annual services (Appropriation Bills No. 1 and No. 3) and revenue from independent sources (section 31 receipts).
2 Expenses not requiring appropriation includes depreciation and amortisation expenses and resources received free of charge, such as audit fees.
Program 1.1: Department of the Treasury
There has been no change to the program objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2012-13.
| 2011-12 Actuals $'000 |
2012-13 Revised budget $'000 |
2013-14 Forward year 1 $'000 |
2014-15 Forward year 2 $'000 |
2015-16 Forward year 3 $'000 |
|
|---|---|---|---|---|---|
| Departmental expenses | |||||
| Departmental items | 178,894 | 160,736 | 152,892 | 158,270 | 158,105 |
| Australia to host the Group of 20 in 2014 | - | 5,298 | 20,192 | 17,196 | 799 |
| Clean Energy Finance Corporation | - | 18,383 | 18,102 | 18,228 | - |
| Expenses not requiring appropriation | 13,944 | 13,571 | 11,849 | 10,283 | 9,217 |
| Total departmental expenses | 192,838 | 197,988 | 203,035 | 203,977 | 168,121 |
| Administered expenses | |||||
| Expenses not requiring appropriation | 975,826 | 108,025 | - | - | - |
| Total administered expenses | 975,826 | 108,025 | - | - | - |
| Total program expenses | 1,168,664 | 306,013 | 203,035 | 203,977 | 168,121 |
Program expenses have changed to reflect Tables 1.3 and 1.4.
Program 1.3: Support for Markets and Business
In addition to the program objective, deliverables and key performance indicators included in the Portfolio Budget Statements 2012-13, the following objectives, deliverables and key performance indicators are included for program 1.3.
Program objective
The Superannuation Consumer Centre (SCC) will be a non-profit organisation with a primary focus on superannuation policy research and related consumer advocacy. The Gover
nment will contribute $10 million over three years to a non-government investment fund, the earnings of which will be used to fund the ongoing costs of the SCC. This contribution will be contingent upon matching funds being provided by industry.
To provide further financial assistance to four APRA regulated superannuation funds in accordance with the Minister’s Determination of 2 September 2012.
Program expenses
| 2011-12
Actuals |
2012-13 Revised budget $'000 |
2013-14 Forward year 1 $'000 |
2014-15 Forward year 2 $'000 |
2015-16 Forward year 3 $'000 |
|
|---|---|---|---|---|---|
| Administered expenses | |||||
| Annual appropriations | |||||
| Centre for International Finance and Regulation | 2,573 | 4,500 | 4,000 | 1,000 | - |
| Housing Loans Insurance Company Limited - payments in respect of insurance claims | 675 | 675 | 675 | 675 | 675 |
| Contribution to the Superannuation Consumer Centre | - | 1,000 | 2,000 | 7,000 | - |
| Special appropriations | |||||
| Superannuation Industry (Supervision) Act 1993 - financial assistance grant to compensate fund members for the collapse of Trio | - | 16,720 | - | - | - |
| Total administered expenses | 3,248 | 22,895 | 6,675 | 8,675 | 675 |
| Total program expenses | 3,248 | 22,895 | 6,675 | 8,675 | 675 |
Program deliverables
The contribution to the SCC has been made according to the agreed funding schedule.
Payments of further financial assistance to compensate members of four APRA regulated superannuation funds that invested in Trio have been made in accordance with the Minister’s Determination of 2 September 2012
Program key performance indicators
The contribution to the SCC is made according to the agreed funding schedule.
Payments of further financial assistance to compensate members of four APRA regulated superannuation funds that invested in Trio are made in accordance with the Minister’s Determination of 2 September 2012.
Section 3: Explanatory tables and budgeted financial statements
3.1 Explanatory tables
Estimates of special account flows
Special accounts provide a means to set aside and record amounts used for specific purposes. Table 3.1.1 shows the expected additions (receipts) and reductions (payments) for each account used by the Treasury.
| Outcome | Opening balance 2012-13 2011-12 $'000 |
Receipts Non- Appropriated 2012-13 2011-12 $'000 |
Receipts Appropriated 2012-13 2011-12 $'000 |
Payments 2012-13 2011-12 $'000 |
Closing balance 2012-13 2011-12 $'000 |
|
|---|---|---|---|---|---|---|
| Actuarial Services Special | 1 | 2,282 | 1,629 | - | (1,629) | 2,282 |
| Account(D) | 2,149 | 1,842 | - | (1,709) | 2,282 | |
| COAG Reform Fund | 1 | - | 10,599,412 | - | (10,599,412) | - |
| Special Account(A) | - | 21,474,820 | - | (21,474,820) | - | |
| Financial System Stability | 1 | - | - | - | - | - |
| Special Account(A) | - | - | - | - | - | |
| Services for Other Entities and Trust Moneys Special Account - |
1 | - | - | - | - | - |
| Department of the Treasury(A/D) | - | - | - | - | - | |
| Total special accounts 2012-13 Budget estimate | 2,282 | 10,601,041 | - | (10,601,041) | 2,282 | |
| Total special accounts 2011-12 actual |
2,149 | 21,476,662 | - | (21,476,529) | 2,282 |
(A) Administered.
(D) Departmental.
3.2 Budgeted financial statements
3.2.1 Analysis of budgeted financial statements
The Department of the Treasury is budgeting for a departmental breakeven operating result for 2012-13.
The Department of the Treasury has a sound financial position and currently has sufficient cash reserves to fund provisions and payables, and asset replacement, as they fall due.
3.2.2 Budgeted financial statements
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| EXPENSES | |||||
| Employee benefits | 135,386 | 123,617 | 121,361 | 122,517 | 113,490 |
| Supplier | 39,663 | 59,250 | 68,269 | 68,647 | 43,884 |
| Grants | 4,109 | 2,100 | 2,106 | 3,080 | 2,080 |
| Depreciation and amortisation | 13,418 | 13,021 | 11,299 | 9,733 | 8,667 |
| Net write-down and impairment | 245 | - | - | - | - |
| Finance costs | 17 | - | - | - | - |
| Total expenses | 192,838 | 197,988 | 203,035 | 203,977 | 168,121 |
| LESS: | |||||
| OWN-SOURCE INCOME | |||||
| Revenue | |||||
| Sale of goods and rendering of services | 8,333 | 11,868 | 11,868 | 11,868 | 11,868 |
| Other revenue | 868 | 1,012 | 768 | 742 | 742 |
| Total revenue | 9,201 | 12,880 | 12,636 | 12,610 | 12,610 |
| Gains | |||||
| Other gains | 530 | 550 | 550 | 550 | 550 |
| Total gains | 530 | 550 | 550 | 550 | 550 |
| Total own-source income | 9,731 | 13,430 | 13,186 | 13,160 | 13,160 |
| Net cost of (contribution by) services | 183,107 | 184,558 | 189,849 | 190,817 | 154,961 |
| Appropriation revenue | 158,119 | 171,537 | 178,550 | 181,084 | 146,294 |
| Surplus (deficit) attributable to the Australian Government | (24,988) | (13,021) | (11,299) | (9,733) | (8,667) |
| 2011-12 $'000 |
2012-13 $'000 |
2013-14 $'000 |
2014-15 $'000 |
2015-16 $'000 |
|
|---|---|---|---|---|---|
| Total Comprehensive Income(loss) less depreciation/amortisationexpenses previously funded throughrevenue appropriations | (11,570) | - | - | - | - |
| plus depreciation/amortisation expensespreviously funded through revenueappropriations | (13,418) | (13,021) | (11,299) | (9,733) | (8,667) |
| Total Comprehensive Income(loss) - as per the Statement of Comprehensive Income | (24,988) | (13,021) | (11,299) | (9,733) | (8,667) |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| ASSETS | |||||
| Financial assets | |||||
| Cash and equivalents | 1,108 | 1,108 | 1,108 | 1,108 | 1,108 |
| Trade and other receivables | 55,141 | 57,141 | 59,141 | 61,141 | 63,141 |
| Total financial assets | 56,249 | 58,249 | 60,249 | 62,249 | 64,249 |
| Non-financial assets | |||||
| Land and buildings | 7,028 | 6,029 | 5,053 | 4,313 | 3,726 |
| Infrastructure, plant and equipment | 12,927 | 10,644 | 8,642 | 7,166 | 6,038 |
| Intangibles | 25,711 | 23,029 | 20,557 | 19,065 | 18,180 |
| Other | 2,502 | 2,502 | 2,502 | 2,502 | 2,502 |
| Total non-financial assets | 48,168 | 42,204 | 36,754 | 33,046 | 30,446 |
| Total assets | 104,417 | 100,453 | 97,003 | 95,295 | 94,695 |
| LIABILITIES | |||||
| Provisions | |||||
| Employees | 44,600 | 46,600 | 48,600 | 50,600 | 52,600 |
| Total provisions | 44,600 | 46,600 | 48,600 | 50,600 | 52,600 |
| Payables | |||||
| Suppliers | 311 | 311 | 311 | 311 | 311 |
| Other | 4,554 | 4,554 | 4,554 | 4,554 | |
| Total payables | 4,865 | 4,865 | 4,865 | 4,865 | 4,865 |
| Total liabilities | 49,465 | 51,465 | 53,465 | 55,465 | 57,465 |
| Net assets | 54,952 | 48,988 | 43,538 | 39,830 | 37,230 |
| EQUITY | |||||
| Parent entity interest | |||||
| Contributed equity | 47,959 | 55,016 | 60,865 | 66,890 | 72,957 |
| Reserves | 5,186 | 5,186 | 5,186 | 5,186 | 5,186 |
| Retained surpluses or accumulated deficits | 1,807 | (11,214) | (22,513) | (32,246) | (40,913) |
| Total equity | 54,952 | 48,988 | 43,538 | 39,830 | 37,230 |
| Current assets | 58,751 | 60,751 | 62,751 | 64,751 | 66,751 |
| Non-current assets | 45,666 | 39,702 | 34,252 | 30,544 | 27,944 |
| Current liabilities | 45,508 | 47,348 | 49,188 | 51,028 | 52,868 |
| Non-current liabilities | 3,957 | 4,117 | 4,277 | 4,437 | 4,597 |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| OPERATING ACTIVITIES | |||||
| Cash received | |||||
| Goods and services | 12,195 | 11,868 | 11,868 | 11,868 | 11,868 |
| Appropriations | 174,445 | 169,537 | 176,550 | 179,084 | 144,294 |
| Other | 4,283 | 1,012 | 768 | 742 | 742 |
| Total cash received | 190,923 | 182,417 | 189,186 | 191,694 | 156,904 |
| Cash used | |||||
| Employees | 132,955 | 121,617 | 119,361 | 120,517 | 111,490 |
| Suppliers | 48,098 | 58,700 | 67,719 | 68,097 | 43,334 |
| Grants | 4,109 | 2,100 | 2,106 | 3,080 | 2,080 |
| Borrowing costs | 19 | - | - | - | - |
| Total cash used | 185,181 | 182,417 | 189,186 | 191,694 | 156,904 |
| Net cash from or (used by) operating activities | 5,742 | - | - | - | - |
| INVESTING ACTIVITIES | |||||
| Cash received | |||||
| Proceeds from sales of property, plant and equipment | 9 | - | - | - | - |
| Total cash received | 9 | - | - | - | - |
| Cash used | |||||
| Purchase of property, plant and equipment | 12,786 | 7,057 | 5,849 | 6,025 | 6,067 |
| Total cash used | 12,786 | 7,057 | 5,849 | 6,025 | 6,067 |
| Net cash from or (used by) investing activities | (12,777) | (7,057) | (5,849) | (6,025) | (6,067) |
| FINANCING ACTIVITIES | |||||
| Cash received | |||||
| Appropriations - equity injections | 583 | 1,839 | 583 | 583 | 583 |
| Appropriations - DCB | 6,724 | 5,218 | 5,266 | 5,442 | 5,484 |
| Total cash received | 7,307 | 7,057 | 5,849 | 6,025 | 6,067 |
| Net cash from or (used by) financing activities | 7,307 | 7,057 | 5,849 | 6,025 | 6,067 |
| Net increase or (decrease) in cash held | 272 | - | - | - | - |
| Cash at the beginning of the reporting period | 836 | 1,108 | 1,108 | 1,108 | 1,108 |
| Cash at the end of the reporting period | 1,108 | 1,108 | 1,108 | 1,108 |
Prepared on Australian Accounting Standards basis.
| Retained surpluses $'000 |
Asset revaluation reserve $'000 |
Other reserves $'000 |
Contributed equity/ capital $'000 |
Total equity $'000 |
|
|---|---|---|---|---|---|
| Opening balance as at 1 July 2012 | |||||
| Balance carried forward from previous period | 1,807 | 5,186 | - | 47,959 | 54,952 |
| Adjusted opening balance | 1,807 | 5,186 | - | 47,959 | 54,952 |
| Comprehensive income | |||||
| Surplus (deficit) for the period | (13,021) | - | - | - | (13,021) |
| Total comprehensive income recognised directly in equity | (13,021) | - | - | - | (13,021) |
| Transactions with owners | |||||
| Contribution by owners | |||||
| Appropriation (equity injection) | - | - | - | 1,839 | 1,839 |
| Appropriation (departmental capital budget) | - | - | - | 5,218 | 5,218 |
| Total transactions with owners | - | - | - | 7,057 | 7,057 |
| Estimated closing balance as at 30 June 2013 | (11,214) | 5,186 | - | 55,016 | 48,988 |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| NEW CAPITAL APPROPRIATIONS | |||||
| Capital budget - Bill 1 - DCB | 6,485 | 5,218 | 5,266 | 5,442 | 5,484 |
| Total equity injections | 583 | 1,839 | 583 | 583 | 583 |
| Total new capital appropriations | 7,068 | 7,057 | 5,849 | 6,025 | 6,067 |
| Provided for: | |||||
| Purchase of non-financial assets | 7,068 | 7,057 | 5,849 | 6,025 | 6,067 |
| Total Items | 7,068 | 7,057 | 5,849 | 6,025 | 6,067 |
| PURCHASE OF NON-FINANCIAL ASSETS | |||||
| Funded by capital appropriations | 583 | 1,839 | 583 | 583 | 583 |
| Funded by capital appropriation - DCB | 6,724 | 5,218 | 5,266 | 5,442 | 5,484 |
| Funded internally by departmental resources | 5,479 | - | - | - | - |
| TOTAL | 12,786 | 7,057 | 5,849 | 6,025 | 6,067 |
| RECONCILIATION OF CASH USED TO ACQUIRE ASSETS TO ASSET MOVEMENT TABLE | |||||
| Total purchases | 12,786 | 7,057 | 5,849 | 6,025 | 6,067 |
| Total cash used to acquire assets | 12,786 | 7,057 | 5,849 | 6,025 | 6,067 |
Prepared on Australian Accounting Standards basis.
| Buildings $'000 |
Other infrastructure, plant and equipment $'000 |
Intangibles $'000 |
Total $'000 |
|
|---|---|---|---|---|
| As at 1 July 2012 | ||||
| Gross book value | 9,391 | 15,454 | 43,951 | 68,796 |
| Accumulated depreciation/amortisation and impairment | 2,363 | 2,527 | 18,240 | 23,130 |
| Opening net book balance | 7,028 | 12,927 | 25,711 | 45,666 |
| Capital asset additions | ||||
| By purchase - appropriation equity | - | 1,339 | 500 | 1,839 |
| By purchase - appropriation DCB | 1,102 | 316 | 3,800 | 5,218 |
| Total additions | 1,102 | 1,655 | 4,300 | 7,057 |
| Other movements | ||||
| Depreciation/amortisation expense | 2,101 | 3,938 | 6,982 | 13,021 |
| Total other movements | 2,101 | 3,938 | 6,982 | 13,021 |
| As at 30 June 2013 | ||||
| Gross book value | 10,493 | 17,109 | 48,251 | 75,853 |
| Accumulated depreciation/amortisation and impairment | 4,464 | 6,465 | 25,222 | 36,151 |
| Closing net book balance | 6,029 | 10,644 | 23,029 | 39,702 |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| EXPENSES ADMINISTERED ON BEHALF OF GOVERNMENT | |||||
| Grants | 85,881,099 | 79,728,293 | 84,618,154 | 85,931,320 | 90,886,368 |
| Interest | 11,289 | 4,997 | 4,204 | 4,238 | 4,289 |
| Other | 11,387 | 675 | 675 | 675 | 675 |
| Fair value loss on NDRRA provision | 964,706 | 108,025 | - | - | - |
| Total expenses administered on behalf of government | 86,868,481 | 79,841,990 | 84,623,033 | 85,936,233 | 90,891,332 |
| LESS: | |||||
| OWN-SOURCE INCOME | |||||
| Own-source revenue | |||||
| Non-taxation revenue | |||||
| Goods and services | 1,588,520 | 1,366,947 | 1,154,351 | 794,162 | 736,938 |
| Interest | 973 | 3,871 | 12,687 | 28,540 | 45,298 |
| Dividends | 403,066 | 1,222 | 1,267 | 1,278 | 1,293 |
| Nation Building and COAG transfers | 3,230,916 | 1,446,841 | 1,573,424 | 1,050,922 | 1,346,301 |
| Other sources of non-taxation revenues | 28,767 | 4,060 | 7,000 | 4,000 | 4,000 |
| Total non-taxation revenue | 5,252,242 | 2,822,941 | 2,748,729 | 1,878,902 | 2,133,830 |
| Total own-source revenues administered on behalf of Government | 5,252,242 | 2,822,941 | 2,748,729 | 1,878,902 | 2,133,830 |
| Gains | |||||
| Foreign exchange | 5,894 | 50,369 | 72,990 | 75,958 | 59,029 |
| Total gains administered on behalf of government | 5,894 | 50,369 | 72,990 | 75,958 | 59,029 |
| Total own-sourced income administered on behalf of Government | 5,258,136 | 2,873,310 | 2,821,719 | 1,954,860 | 2,192,859 |
| Net Cost of (contribution by) services | 81,610,345 | 76,968,680 | 81,801,314 | 83,981,373 | 88,698,473 |
| Surplus (Deficit) | (81,610,345) | (76,968,680) | (81,801,314) | (83,981,373) | (88,698,473) |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| ASSETS ADMINISTERED ON BEHALF OF GOVERNMENT | |||||
| Financial assets | |||||
| Cash and cash equivalents | 1,735 | 1,735 | 1,735 | 1,735 | 1,735 |
| Advances and loans | 676,234 | 853,655 | 1,037,688 | 1,214,806 | 1,148,091 |
| Receivables | 1,813,628 | 1,053,641 | 532,671 | 367,301 | 287,432 |
| Investments | 12,665,485 | 17,782,236 | 17,933,349 | 18,090,131 | 18,196,009 |
| Total financial assets | 15,157,082 | 19,691,267 | 19,505,443 | 19,673,973 | 19,633,267 |
| Non financial assets | |||||
| Prepayments | 88,259 | 59,849 | 59,849 | 59,84 9 |
59,849 |
| Total non financial assets | 88,259 | 59,849 | 59,849 | 59,849 | 59,849 |
| Total assets administered on behalf of government | 15,245,341 | 19,751,116 | 19,565,292 | 19,733,822 | 19,693,116 |
| LIABILITIES ADMINISTERED ON BEHALF OF GOVERNMENT | |||||
| Interest bearing liabilities | |||||
| Loans | 3,259,958 | 6,671,401 | 6,182,424 | 6,201,914 | 6,175,500 |
| Other | 4,570,369 | 4,605,761 | 4,646,678 | 4,689,047 | 4,730,714 |
| Total interest bearing liabilities | 7,830,327 | 11,277,162 | 10,829,102 | 10,890,961 | 10,906,214 |
| Payables | |||||
| Grants and subsidies | 4,428,422 | 3,952,890 | 2,257,840 | 120,221 | 119,461 |
| Other payables | 1,331,122 | 756,346 | 336,563 | 242,982 | 203,330 |
| Total payables | 5,759,544 | 4,709,236 | 2,594,403 | 363,203 | 322,791 |
| Total liabilities administered on behalf of government | 13,589,871 | 15,986,398 | 13,423,505 | 11,254,164 | 11,229,005 |
| Net assets/(liabilities) | 1,655,470 | 3,764,718 | 6,141,787 | 8,479,658 | 8,464,111 |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| OPERATING ACTIVITIES | |||||
| Cash received | |||||
| Sales of goods and rendering of services | 930,355 | 681,726 | 504,734 | 122,121 | 42,376 |
| Interest | 4,583 | 1,904 | 1,868 | 1,885 | 1,907 |
| Dividends | - | 675,000 | 75,000 | 75,000 | 75,000 |
| Grants | 11,584,679 | 9,621,728 | 10,403,427 | 10,592,366 | 11,650,780 |
| Other | 28,209 | 4,060 | 7,000 | 4,000 | 4,000 |
| Total cash received | 12,547,826 | 10,984,418 | 10,992,029 | 10,795,372 | 11,774,063 |
| Cash used | |||||
| Grant payments | 95,518,046 | 87,730,951 | 94,455,289 | 96,914,102 | 100,496,347 |
| Interest paid | 14,274 | 4,288 | 4,209 | 4,245 | 4,295 |
| Other | 15,978 | 33,395 | 6,675 | 8,675 | 675 |
| Total cash used | 95,548,298 | 87,768,634 | 94,466,173 | 96,927,022 | 100,501,317 |
| Net cash from or (used by) operating activities | (83,000,472) | (76,784,216) | (83,474,144) | (86,131,650) | (88,727,254) |
| INVESTING ACTIVITIES | |||||
| Cash received | |||||
| Loans Advances and HECS | - | 6,347 | - | - | 231,335 |
| Other investing activities | 58 | - | - | - | - |
| Total cash received | 58 | 6,347 | - | - | 231,335 |
| Cash used | |||||
| Purchase of investments | 333,400 | 1,624,667 | 532,102 | 25,094 | 37,623 |
| Advances and loans | 444,619 | 175,392 | 172,137 | 162,500 | 149,384 |
| Other | - | - | - | - | - |
| Total cash used | 778,019 | 1,800,059 | 704,239 | 187,594 | 187,007 |
| Net cash from or (used by) investing activities | (777,961) | (1,793,712) | (704,239) | (187,594) | 44,328 |
| FINANCING ACTIVITIES | |||||
| Cash received | |||||
| Other | - | - | - | - | - |
| Total cash received | - | - | - | - | - |
| Net cash from or (used by) financing activities | - | - | - | - | - |
| Net increase or (decrease) in cash held | (83,778,433) | (78,577,928) | (84,178,383) | (86,319,244) | (88,682,926) |
| Cash at beginning of reporting period | 4,763 | 4,763 | 4,763 | 4,763 | 4,763 |
| Cash from Official Public Account - appropriations | 87,966,520 | 81,393,801 | 86,340,404 | 87,573,167 | 90,383,840 |
| Cash to Official Public Account | 4,191,115 | 2,815,873 | 2,162,021 | 1,253,923 | 1,700,914 |
| Cash at end of reporting period | 4,763 | 4,763 | 4,763 | 4,763 | 4,763 |
Prepared on Australian Accounting Standards basis.
| Actual 2011-12 $'000 |
Revised budget 2012-13 $'000 |
Forward estimate 2013-14 $'000 |
Forward estimate 2014-15 $'000 |
Forward estimate 2015-16 $'000 |
|
|---|---|---|---|---|---|
| NEW CAPITAL APPROPRIATIONS | |||||
| Administered assets and liabilities | 2,137 | 57,000 | 47,500 | - | - |
| Special appropriations | 764,597 | 1,750,059 | 654,239 | 157,444 | 187,007 |
| Total new capital appropriations | 766,734 | 1,807,059 | 701,739 | 157,444 | 187,007 |
| Provided for: | |||||
| International Financial Institutions | 764,597 | 1,750,059 | 654,239 | 157,444 | 187,007 |
| Other | 2,137 | 57,000 | 47,500 | - | - |
| Total Items | 766,734 | 1,807,059 | 701,739 | 157,444 | 187,007 |
Prepared on Australian Accounting Standards basis.
Notes to the financial statements
The Treasury’s budgeted statements are prepared on an accrual basis in accordance with:
- the Government’s financial budgeting and reporting framework; and
- Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board.
Under the Government’s accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that departments control (departmental transactions) are separately budgeted for, and reported on, from transactions departments do not have control over (administered transactions). This ensures that departments are only held accountable for the transactions over which they have control.
Departmental assets, liabilities, revenues and expenses are controlled by the department. Departmental expenses include employee and supplier expenses and other administrative costs, which are incurred by the department in providing goods and services.
Administered items are revenues, expenses, assets or liabilities which are managed by the department on behalf of the Government according to set government directions. Administered expenses include subsidies, grants and personal benefit payments, and administered revenues include taxes, fines and excises.