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Department of the Treasury

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Section 1: Entity overview and resources

1.1 Strategic direction statement

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 2015-16 (pages 16-18).

As a result of the Administrative Arrangements Orders in September 2015 the Northern Australian Infrastructure Incentive Facility was transferred from the Treasury to the Department of Industry, Innovation and Science. The Administrative Arrangements Orders also transferred responsibility for the administration of the Clean Energy Finance Corporation (CEFC) special account from the Treasury to the Department of the Environment.

The Treasury is seeking an additional $1.8 million in departmental funding through Appropriation Bill (No. 3) 2015-16. This comprises an additional $1.2 million for the Asian Infrastructure Investment Bank measure and $0.7 million for the capability review of the Australian Securities and Investments Commission measure outlined in the Mid-Year Economic and Fiscal Outlook 2015-16. This additional funding is offset by a reduction of $0.1 million relating to the Public Sector Superannuation Accumulation Plan administration fees as outlined in the Mid-Year Economic and Fiscal Outlook 2014-15.

The Treasury is seeking an additional $1.4 million in administered funding through Appropriation Bill (No. 3) 2015-16 to provide additional services under the Australian Small Business Advisory Service (ASBAS) programme as outlined in the Mid-Year Economic and Fiscal Outlook 2015-16.

1.2 Entity resource statement

The Entity Resource Statement details the resourcing for the Treasury at Additional Estimates. Table 1.1 outlines the total resourcing available from all sources for the 2015-16 Budget year, including variations through Appropriation Bill Nos. 3 and 4, Special Appropriations and Special Accounts.

Table 1.1: Treasury resource statement — Additional Estimates for 2015-16 as at Additional Estimates February 2016
  Actual available appropriation Estimate as at Budget Proposed Additional Estimate Total estimate
at Additional
Estimates
  2014-15
$'000
2015-16
$'000
2015-16
$'000
2015-16
$'000
Ordinary annual services(a)        
Departmental appropriation        
Prior year departmental appropriation(b) 56,814 62,240 - 62,240
Departmental appropriation(c) 178,140 163,653 1,768 165,421
s.74 Retained Revenue Receipts(d) 15,425 10,521 - 10,521
Total 250,379 236,414 1,768 238,182
Administered expenses        
Outcome 1 86,568 36,724 1,400 38,124
Total 86,568 36,724 1,400 38,124
Total ordinary annual services [A] 336,947 273,138 3,168 276,306
Other services(e)        
Administered expenses        
Departmental non-operating        
Equity injections 1,595 1,700 - 1,700
Total 1,595 1,700 - 1,700
Total other services [B] 1,595 1,700 - 1,700
Total available annual appropriations [A+B] 338,542 274,838 3,168 278,006
Special appropriations        
Special appropriations limited by criteria/entitlement        
Asian Development Bank (Additional Subscription) Act 2009 16,979 28,030 - 28,030
Asian Infrastructure Investment Bank Act 2015 - - 201,128 201,128
Federal Financial Relations Act 2009 73,296,353 77,033,023 631,785 77,664,808
International Monetary Agreements Act 1947 54,453 1,994,862 83,959 2,078,821
PGPA Act 2013 - s.77 repayments 2,871 1,000 - 1,000
Total special appropriations [C] 73,370,656 79,056,915 916,872 79,973,787
Total appropriations excluding Special Accounts [A+B+C] 73,709,198 79,331,753 920,040 80,251,793
Special Accounts        
Opening balance(f) 870,846 2,921,446 (2,918,814) 2,632
Appropriation Receipts(g) 2,000,000 - - -
Non-appropriation receipts to Special Accounts 11,574,269 13,033,492 (308,907) 12,724,585
Total Special Accounts [D] 14,445,115 15,954,938 (3,227,721) 12,727,217
Total resourcing [A+B+C+D] 88,154,313 95,286,691 (2,307,681) 92,979,010
Less appropriations drawn from annual or special appropriations above and credited to special accounts 2,000,000 - - -
Total net resourcing for the Treasury(g) 86,154,313 95,286,691 (2,307,681) 92,979,010

(a) Appropriation Act (No. 1) 2015-2016 and Appropriation Bill (No. 3) 2015-2016.

(b) Estimated adjusted balance carried from previous year for annual appropriations.

(c) Includes an amount of $5.3m in 2015-16 for the Departmental Capital Budget (refer to table 3.2.5 for further details). For accounting purposes this amount has been designated as ‘contributions by owners'.
The estimate as at Budget for 2015-16 incorporates the transfer of funding of $1.0 million from the Treasury to the Department of Industry, Innovation and Science for the Northern Australia Infrastructure Incentive Facility.

(d) Estimated retained revenue receipts under s. 74 of the Public Governance, Performance and Accountability (PGPA) Act 2013.

(e) Appropriation Act (No. 2) 2015-2016 and Appropriation Bill (No. 4) 2015-2016.

(f) Estimated opening balance for special accounts (less ‘special public money' held in Services for Other Entities and Trust Moneys Special Accounts (SOETM)). For further information on special accounts refer to Table 3.1.1. The revised opening balance estimate for 2015-16 has been reduced to reflect the transfer of the CEFC special account to the Department of the Environment.

(g) Total resourcing for the Treasury will be effected by s. 75 transfers of appropriations (refer to table 1.4 for further details).

Reader note: All figures are GST exclusive. These figures may not match figures in the cash flow statement.

Table 1.1: Treasury resource statement — Additional estimates for 2015-16 as at additional estimates February 2016 (continued)
Third party payments from and on behalf of other entities
  Estimate at Budget
2015-16
$'000
Estimate at Additional Estimates
2015-16
$'000
Payments made on behalf of other entities (a)    
Finance (b) 68,182 -
Health (c) 239,678 46,891
Infrastructure and Regional Development 179,920 122,920
Social Services 107,716 158,510

(a) These payments relate to National Partnership payments to the states.

(b) As outlined in the Mid-Year Economic and Fiscal Outlook 2015-16, access to the DisabilityCare Australia Fund will be determined through negotiations between the Commonwealth and the states. The maximum amount of funding available to the states is set out in the DisabilityCare Australia Fund Act 2013.

(c) The revision to estimates reflects the change in funding arrangements for health infrastructure projects, which will be funded from the COAG Reform Fund Special Account. This change was part of the Medical Research Future Fund – establishment measure as outlined in the Budget Paper No.2, Budget Measures 2014-15.

1.3 Entity measures

Table 1.2 summarises new Government measures taken since the 2015-16 Budget. The table is split into expense and capital measures, with the affected programme identified.

Table 1.2: Treasury 2015-16 measures since Budget
  Programme 2015-16
$'000
2016-17
$'000
2017-18
$'000
2018-19
$'000
Expense measures          
Asian Infrastructure Investment Bank          
Departmental expenses 1.1 1,188 1,181 949 958
Asset Recycling Initiative — redirection of funding          
Administered expenses 1.9 - - - -
Assistance for Queensland Banana Growers — Panama disease Tropical Race 4          
Administered expenses 1.9 - - - -
Capability Review of the Australian Securities and Investments Commission          
Departmental expenses 1.1 - - - -
Disaster relief — additional funding          
Administered expenses 1.7 4,688 8,688 - -
Financial Stability Fund — not proceeding          
Administered expenses 1.1 (168) (600) (1,074) (1,583)
Health Services in Tasmania — additional funding          
Administered expenses 1.9 10,663 10,000 - -
Indirect Tax Concession Scheme — diplomatic and consular concessions          
Administered expenses 1.4 - - - -
Mental Health — streamlining          
Administered expenses 1.9 - - - -
National Disability Insurance Scheme — transition to full scheme          
Administered expenses 1.9 (339,236) (328,803) (350,862) (362,195)
National Immunisation Programme — new and amended listings          
Administered expenses 1.9 (3) (20) (51) (68)
Next Generation Manufacturing Programme — additional funding          
Administered expenses 1.9 (10,000) (10,000) (9,124) -
Our North, Our Future          
- business, trade and investment gateway          
Administered expenses 1.9 - - - -
- road and rail infrastructure          
Administered expenses 1.9 - - - -
South Australia - upgrading the last mile          
Administered expenses 1.9 - - - -
Strengthening Australia's Foreign Investment Framework — continuation          
Administered expenses 1.9 - - - -
Stronger Farmers, Stronger Economy          
– National Water Infrastructure Development Fund          
Administered expenses 1.9 - - - -
– new drought management framework          
Administered expenses 1.9 - - - -
– strengthening research, skills and management of natural resources          
Administered expenses 1.9 - - - -
Public Sector Superannuation Accumulation Plan administration fees (a)          
Departmental expenses 1.1 (66) (66) (66) (66)
Public Sector Savings - Enterprise Resource Planning Systems (b)          
Departmental expenses 1.1 - - (94) (114)
Syrian and Iraqi Humanitarian Crisis          
Administered expenses 1.5/1.4 3,637 15,619 18,803 19,964
Tasmania — horticulture growth project          
Administered expenses 1.9 50 - - -
Tasmanian Forests — saving          
Administered expenses 1.9 - - - -
Tasmanian Wilderness World Heritage Area — contribution          
Administered expenses 1.9 - - - -
Total expense measures   (329,247) (304,001) (341,519) (343,104)
Administered   (330,369) (305,116) (342,308) (343,882)
Departmental   1,122 1,115 789 778
Capital measures          
Asian Infrastructure Investment Bank          
Administered 1.1 - - - -
Total capital measures   - - - -
Total   (329,247) (304,001) (341,519) (343,104)

(a) This measure was announced in the Mid-Year Economic and Fiscal Outlook 2014-15 as a cross portfolio measure and has not previously appeared in a portfolio statement.

(b) This measure was announced in Budget 2015-16 as a cross-portfolio measure and has not previously appeared in a portfolio statement.

Prepared on a Government Financial Statistics (fiscal) basis.

1.4 Additional estimates and variations

The following tables detail the changes to the resourcing for the Treasury at Additional Estimates, by outcome. Table 1.3 details the additional estimates and variations resulting from new measures since the 2015-16 Budget in Appropriation Bills Nos. 3 and 4. Table 1.4 details additional estimates or variations through other factors, such parameter adjustments.

Table 1.3: Additional estimates and variations to outcomes from measures since 2015-16 Budget
  Programme 2015-16
$'000
2016-17
$'000
2017-18
$'000
2018-19
$'000
Outcome 1          
Increase in estimates (administered)          
Our North, Our Future - Business Trade and Investment Gateway (ASBAS) (a) 1.3 1,400 1,400 1,400 -
Net impact on estimates for Outcome 1 (administered)   1,400 1,400 1,400 -
Increase in estimates (departmental)          
Asian Infrastructure Investment Bank (a) 1.1 1,188 1,181 949 958
Capability Review of Australian Securities and Investments Commission (a) 1.1 646 - - -
Decrease in estimates (departmental)          
Public Sector Superannuation Accumulation Plan administration fees (b) 1.1 (66) (66) (66) (66)
Public Sector Savings - Enterprise Resource Planning Systems (c) 1.1 - - (94) (114)
Net impact on estimates for Outcome 1 (departmental)   1,768 1,115 789 778

(a) The Asian Infrastructure Investment Bank, ASBAS, and Capability Review of Australian Securities and Investments Commission measures were outlined in the Mid-Year Economic and Fiscal Outlook 2015-16.

(b) This measure was announced in the Mid-Year Economic and Fiscal Outlook 2014-15 as a cross portfolio measure and has not previously appeared in a portfolio statement.

(c) This measure was announced in Budget 2015-16 as a cross-portfolio measure and has not previously appeared in a portfolio statement.

Table 1.4: Additional estimates and variations to outcomes from other variations
  Programme 2015-16
$'000
2016-17
$'000
2017-18
$'000
2018-19
$'000
Outcome 1          
Decrease in estimates (departmental)          
Northern Australia Infrastructure Incentive Facility(a) 1.1 (1,000) (1,500) (2,000) (2,000)
Adjustments to reflect movements in indices relating to prices and wages 1.1 - - (151) (304)
Net impact on estimates for Outcome 1 (departmental)   (1,000) (1,500) (2,151) (2,304)
Decrease in estimates (capital)          
Adjustments to reflect movements in indices relating to prices and wages 1.1 - - (5) (11)
Net impact on estimates for Outcome 1 (capital)   - - (5) (11)

(a) Relates to the transfer of funding from the Treasury to the Department of Industry, Innovation and Science for the Northern Australia Infrastructure Incentive Facility as a result of the Administrative Arrangements Orders of September 2015.

1.5 Breakdown of additional estimates by appropriation bill

The following table detail the Additional Estimates sought for the Treasury through Appropriation Bill No. 3. There were no Additional Estimates sought for Appropriation Bill No. 4.

Table 1.5: Appropriation Bill (No. 3) 2015-16
  2014-15
Available
$'000
2015-16
Budget
$'000
2015-16
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 (a) 234,954 163,653 165,421 1,768 -
Administered items 86,568 36,724 38,124 1,400  
Total 321,522 200,377 203,545 3,168 -

(a) The estimate as at the Budget 2015-16 incorporates the transfer of funding of $1.0 million from the Treasury to the Department of Industry, Innovation and Science for the Northern Australia Infrastructure Incentive Facility.

Section 2: Revisions to outcomes and planned performance

2.1 Outcomes and performance information

Outcome 1

There has been no change to outcomes or the outcome strategy for the Treasury from that included in the Portfolio Budget Statements 2015-16 (pages 25-26).

There has been no significant change to the programme objective, expenses, deliverables or key performance indicators for programme 1.2 (payments to international financial institutions) and programmes 1.4 to 1.9 that affect Appropriation Bills Nos. 3 and 4.

Programmes 1.4 to 1.9 relate to Australia's Federal Relations. Further details of Australia's Federal Relations are on pages 76 to 85 of the Mid-Year Economic and Fiscal Outlook 2015-16.

Table 2.1: Budgeted expenses and resources for Outcome 1
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 2014-15
Actual expenses
$'000
2015-16
Revised estimated expenses
$'000
Programme 1.1: Department of the Treasury    
Administered expenses    
Ordinary annual services (Appropriation Act No. 1 and Bill No. 3) 28,382 3,230
Special appropriations 2,871 1,000
Expenses not requiring appropriation 100 -
Departmental expenses    
Departmental appropriation (a) 182,241 171,724
Special Accounts 1,840 1,803
Expenses not requiring appropriation in the Budget year (b) 9,969 8,217
Total for Programme 1.1 225,403 185,974
Program 1.3: Support for Markets    
Administered expenses    
Ordinary annual services (Appropriation Act No. 1 and Bill No. 3) 6,941 17,394
Total for Programme 1.3 6,941 17,394
     
  2014-15 2015-16
Average Staffing Level (number) 820 839

(a) Departmental appropriation combines ‘Ordinary annual services (Appropriation Act No. 1 and
Bill No. 3)' and ‘Retained Revenue Receipts under s. 74 of the PGPA Act 2013'.

(b) Expenses not requiring appropriation in the Budget year are made up of depreciation expenses, amortisation expenses and audit fees.

Programme Objective 1.1 – Department of the Treasury

There have been no significant changes to programme objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2015-16.

Programme expenses have been updated to reflect new government measures taken and other changes to resourcing for the Treasury as outlined in Table 1.3 and Table 1.4.

Programme expenses 1.1

Table 2.2: Programme expenses 1.1
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward year 1
$'000
2017-18
Forward year 2
$'000
2018-19
Forward year 3
$'000
Departmental expenses          
Departmental items 184,081 173,527 166,608 166,654 167,872
Expenses not requiring appropriation (a) 9,969 8,217 5,858 5,903 5,934
Total departmental expenses 194,050 181,744 172,466 172,557 173,806
Administered expenses          
Annual Appropriations          
Community Engagement 27,982 - - - -
Foreign investment communications - 2,692 - - -
Other 400 538 - - -
Expenses not requiring appropriation 100 - - - -
PGPA s.77 - repayments 2,871 1,000 1,000 1,000 1,000
Total administered expenses 31,353 4,230 1,000 1,000 1,000
Total programme expenses 225,403 185,974 173,466 173,557 174,806

(a) Expenses not requiring appropriation in the Budget year are made up of depreciation expenses, amortisation expenses and audit fees.

Programme Objective 1.3 – Support for markets and business

There has been no significant change to the programme objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2015-16.

Programme expenses have been updated to reflect new government measures taken and other changes to resourcing for the Treasury as outlined in Table 1.3 and Table 1.4.

Programme expenses 1.3

Table 2.3: Programme expenses 1.3
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward year 1
$'000
2017-18
Forward year 2
$'000
2018-19
Forward year 3
$'000
Annual administered expenses          
Annual Appropriations          
Centre for International Finance & Regulation 1,000 - - - -
Housing Loan Company Limited - payments in respect of insurance claims - 675 675 - -
Global Infrastructure Hub 3,400 7,700 6,800 6,800 3,400
Small Business Advisory Services 5,589 6,319 6,014 6,306 5,994
Small Business Support Line 639 1,300 - - -
Australian Small Business Advisory Service - 1,400 1,400 1,400 -
Other (a) (3,687) - - - -
Total programme expenses 6,941 17,394 14,889 14,506 9,394

(a) This relates to the winding down of the HIH Claims Support Scheme.

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 specified purposes. Table 3.1.1 shows the expected additions (receipts) and reductions (payments) for each account used by the Treasury. The corresponding table in the Portfolio Budget Statements 2015-16 is Table 3.1.2.

Table 3.1.1: Estimates of special account flows and balances
  Outcome Opening balance
$'000
Receipts
$'000
Payments
$'000
Adjustments
$'000
Closing balance
$'000
COAG Reform Fund Special Account (A)            
2015-16 1 - 12,722,782 (12,722,782) - -
2014-15   - 11,521,643 (11,521,643) - -
Actuarial Services Special Account (D) 1          
2015-16   2,632 1,803 (1,803) - 2,632
2014-15   2,446 2,026 (1,840) - 2,632
CEFC Special Account (A)(a)            
2015-16 1 2,919,000 - - (2,919,000) -
2014-15   868,400 2,050,600 - - 2,919,000
Services for Other Entities and Trust Monies Special Account (A)            
2015-16 1 - - - - -
2014-15   - 1,996 (1,996) - -
Total special accounts            
2015-16 Budget Estimates   2,921,632 12,724,585 (12,724,585) (2,919,000) 2,632
2014-15 Actual   870,846 13,576,265 (11,525,479) - 2,921,632

(a) Reflects the transfer of the CEFC special account to the Department of the Environment.

(A) = Administered

(D) = Departmental

3.2 Budgeted financial statements

3.2.1 Analysis of budgeted financial statements

The Treasury is budgeting for a break-even operating result, after non-appropriated expenses such as depreciation are removed, in 2015-16.

The Treasury has a sound financial position and has sufficient cash reserves to fund provisions, payables and asset replacement, as they fall due.

3.2.2 Budgeted financial statements

Table 3.2.1: Comprehensive income statement (showing net cost of services)
for the period ended 30 June
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
EXPENSES          
Employee benefits 122,940 126,167 122,300 122,079 122,420
Suppliers 58,570 45,663 43,674 43,930 44,807
Grants 2,571 2,247 1,184 1,195 1,195
Depreciation and amortisation 9,667 7,667 5,308 5,353 5,384
Write-down and impairment of assets 277 - - - -
Finance costs 25 - - - -
Total expenses 194,050 181,744 172,466 172,557 173,806
LESS:          
OWN-SOURCE INCOME          
Own-source revenue          
Sale of goods and rendering of services 10,308 9,268 9,504 9,504 9,504
Other revenue 1,287 1,200 1,200 1,200 950
Total own-source revenue 11,595 10,468 10,704 10,704 10,454
Gains          
Sale of assets 9 - - - -
Other 4,642 3,500 3,500 3,500 3,500
Total gains 4,651 3,500 3,500 3,500 3,500
Total own-source income 16,246 13,968 14,204 14,204 13,954
Net cost of (contribution by) services 177,804 167,776 158,262 158,353 159,852
Revenue from Government 172,767 160,109 152,954 153,000 154,468
Surplus/(deficit) attributable to the Australian Government (5,037) (7,667) (5,308) (5,353) (5,384)
OTHER COMPREHENSIVE INCOME          
Changes in asset revaluation surplus 976 - - - -
Total other comprehensive income 976 - - - -
Total comprehensive income/(loss) (4,061) (7,667) (5,308) (5,353) (5,384)
Total comprehensive income/(loss) excluding depreciation/amortisation expenses previously funded through revenue appropriations (a) 5,606 - - - -
less depreciation/a
mortisation expenses previously funded through revenue appropriations (b)
9,667 7,667 5,308 5,353 5,384
Total comprehensive income/(loss) - as per the Statement of Comprehensive Income (4,061) (7,667) (5,308) (5,353) (5,384)

(a) Includes change in asset revaluation reserves of $1.0 million in 2014-15.

(b) From 2010-11, the Government introduced net cash appropriation arrangements where Appropriation Act No. 1 or Bill No. 3 revenue appropriations for the depreciation/amortisation expenses of non-corporate Commonwealth entities were replaced with a separate capital budget (the Departmental Capital Budget (DCB)) provided through Appropriation Act No. 1 or Bill No. 3 equity appropriations. For information regarding DCBs, please refer to Table 3.2.5 Departmental Capital Budget Statement.

Prepared on Australian Accounting Standards basis.

Table 3.2.2: Budgeted departmental balance sheet
(as at 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
ASSETS          
Financial assets          
Cash and cash equivalents 5,152 5,152 5,152 5,152 5,152
Trade and other receivables 60,141 62,141 64,141 66,141 68,141
Total financial assets 65,293 67,293 69,293 71,293 73,293
Non-financial assets          
Land and buildings 2,500 2,149 2,149 2,149 2,149
Property, plant and equipment 8,660 7,265 7,265 7,270 7,281
Intangibles 12,221 13,312 13,312 13,307 13,296
Other non-financial assets 3,365 3,365 3,365 3,365 3,365
Total non-financial assets 26,746 26,091 26,091 26,091 26,091
Total assets 92,039 93,384 95,384 97,384 99,384
LIABILITIES          
Payables          
Suppliers 1,289 1,289 1,289 1,289 1,289
Other payables 11,484 11,484 11,484 11,484 11,484
Total payables 12,773 12,773 12,773 12,773 12,773
Provisions          
Employee provisions 43,564 45,564 47,564 49,564 51,564
Other provisions 964 964 964 964 964
Total provisions 44,528 46,528 48,528 50,528 52,528
Total liabilities 57,301 59,301 61,301 63,301 65,301
Net assets 34,738 34,083 34,083 34,083 34,083
EQUITY (a)          
Parent entity interest          
Contributed equity 51,526 58,538 63,846 69,199 74,583
Reserves 6,163 6,163 6,163 6,163 6,163
Retained surplus/(accumulated deficit) (22,951) (30,618) (35,926) (41,279) (46,663)
Total Equity 34,738 34,083 34,083 34,083 34,083

(a) Equity is the residual interest in assets after the deduction of liabilities

Prepared on Australian Accounting Standards basis.

Table 3.2.3: Departmental statement of changes in equity — summary of movement (Budget Year 2015-16)
  Retained earnings
$'000
Asset revaluation reserve
$'000
Other reserves
$'000
Contributed equity/ capital
$'000
Total equity
$'000
Opening balance as at 1 July 2015          
Balance carried forward from previous period (22,951) 6,163 - 51,526 34,738
Adjusted opening balance (22,951) 6,163 - 51,526 34,738
Comprehensive income          
Surplus/(deficit) for the period (7,667) - - - (7,667)
Total comprehensive income (7,667) - - - (7,66
7)
Transactions with owners          
Contributions by owners          
Equity Injection - Appropriation - - - 1,700 1,700
Departmental Capital Budget (DCB) - - - 5,312 5,312
Sub-total transactions with owners - - - 7,012 7,012
Closing balance attributable to the Australian Government (30,618) 6,163 - 58,538 34,083

Prepared on Australian Accounting Standards basis.

Table 3.2.4: Budgeted departmental statement of cash flows
(for the period ended 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
OPERATING ACTIVITIES          
Cash received          
Appropriations 173,848 159,652 150,812 150,858 152,305
Sale of goods and rendering of services 11,348 9,268 9,504 9,504 9,504
Other 6,335 650 650 650 400
Total cash received 191,531 169,570 160,966 161,012 162,209
Cash used          
Employees 126,741 124,021 119,876 119,652 119,987
Suppliers 57,450 43,302 39,906 40,165 41,027
Grants 2,571 2,247 1,184 1,195 1,195
Other 15 - - - -
Total cash used 186,777 169,570 160,966 161,012 162,209
Net cash from/(used by) operating activities 4,754 - - - -
INVESTING ACTIVITIES          
Cash received          
Proceeds from sales of property, plant and equipment 21 - - - -
Total cash received 21 - - - -
Cash used          
Purchase of property, plant, equipment and intangibles 7,246 7,012 5,308 5,353 5,384
Total cash used 7,246 7,012 5,308 5,353 5,384
Net cash from/(used by) investing activities (7,225) (7,012) (5,308) (5,353) (5,384)
FINANCING ACTIVITIES          
Cash received          
Appropriations - equity injections 1,595 1,700 - - -
Appropriations - DCB 5,373 5,312 5,308 5,353 5,384
Total cash received 6,968 7,012 5,308 5,353 5,384
Net cash used by financing activities 6,968 7,012 5,308 5,353 5,384
Net increase/(decrease) in cash held 4,497 - - - -
Cash and cash equivalents at the beginning of the reporting period 655 5,152 5,152 5,152 5,152
Cash and cash equivalents at the end of the reporting period 5,152 5,152 5,152 5,152 5,152

Prepared on Australian Accounting Standards basis.

Table 3.2.5: Departmental capital budget statement
(for the period ended 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
NEW CAPITAL APPROPRIATIONS          
Capital budget - Act No. 1 (DCB) 5,373 5,312 5,308 5,353 5,384
Equity inje
ctions - Act No. 2
- 1,700 - - -
Total new capital appropriations 5,373 7,012 5,308 5,353 5,384
Provided for:          
Purchase of non-financial assets 5,373 7,012 5,308 5,353 5,384
Total Items 5,373 7,012 5,308 5,353 5,384
PURCHASE OF NON-FINANCIAL ASSETS          
Funded by capital appropriations 1,595 1,700 - - -
Funded by capital appropriation - DCB 5,373 5,312 5,308 5,353 5,384
TOTAL AMOUNT SPENT 6,968 7,012 5,308 5,353 5,384
RECONCILIATION OF CASH USED TO ACQUIRE ASSETS TO ASSET MOVEMENT TABLE          
Total purchases 6,968 7,012 5,308 5,353 5,384
TOTAL CASH REQUIRED TO ACQUIRE ASSETS 6,968 7,012 5,308 5,353 5,384

Prepared on Australian Accounting Standards basis.

Table 3.2.6: Statement of asset movements (2015-16 Budget year)
  Buildings
$'000
Other property, plant and equipment
$'000
Computer software and intangibles
$'000
Total
$'000
As at 1 July 2015        
Gross book value 7,110 11,221 22,707 41,038
Accumulated depreciation/amortisation and impairment (4,610) (2,561) (10,486) (17,657)
Opening net book balance 2,500 8,660 12,221 23,381
Capital asset additions        
Estimated expenditure on new or replacement assets        
By purchase - appropriation equity - - 1,700 1,700
By purchase - appropriation ordinary annual services 1,365 1,514 2,433 5,312
Total additions 1,365 1,514 4,133 7,012
Other movements        
Depreciation/amortisation expense (1,716) (2,909) (3,042) (7,667)
Total other movements (1,716) (2,909) (3,042) (7,667)
As at 30 June 2016        
Gross book value 8,475 12,735 26,840 48,050
Accumulated depreciation/amortisation and impairment (6,326) (5,470) (13,528) (25,324)
Closing net book balance 2,149 7,265 13,312 22,726

Prepared on Australian Accounting Standards basis.

Table 3.2.7: Schedule of budgeted income and expenses administered on behalf of Government
(for the period ended 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
EXPENSES ADMINISTERED ON BEHALF OF GOVERNMENT          
Grants 83,746,833 89,199,864 95,681,643 95,884,049 96,373,058
Interest 3,427 3,914 4,931 14,949 38,570
Suppliers 27,666 5,591 1,153 1,142 1,207
Foreign exchange - 518,321 - - -
Other expenses - 675 675 - -
Total expenses administered on behalf of Government 83,777,926 89,728,365 95,688,402 95,900,140 96,412,835
LESS:          
OWN-SOURCE INCOME          
Own-source revenue          
Non-taxation revenue          
Sale of goods and rendering of services 726,299 747,234 724,867 702,020 690,550
Interest 3,166 4,251 8,065 12,556 19,116
Dividends 1,941,500 840,426 316,500 766,500 858,000
COAG revenue from government entities 993,379 328,323 2,856,949 2,458,246 2,023,467
Other revenue 154,189 4,371 4,500 4,600 4,700
Total non-taxation revenue 3,818,533 1,924,605 3,910,881 3,943,922 3,595,833
Total own-source revenue administered on behalf of Government 3,818,533 1,924,605 3,910,881 3,943,922 3,595,833
Gains          
Foreign exchange 36,629 - 26,744 45,321 33,370
Total gains administered on behalf of Government 36,629 - 26,744 45,321 33,370
Total own-source income administered on behalf of Government 3,855,162 1,924,605 3,937,625 3,989,243 3,629,203
Net cost of/(contribution by) services 79,922,764 87,803,760 91,750,777 91,910,897 92,783,632
Surplus/(Deficit) (79,922,764) (87,803,760) (91,750,777) (91,910,897) (92,783,632)
OTHER COMPREHENSIVE INCOME          
Items not subject to subsequent reclassification to profit or loss          
Changes in asset revaluation surplus 5,574,357 - - - -
Total other comprehensive income 5,574,357 - - - -
Total comprehensive income (loss) (74,348,407) (87,803,760) (91,750,777) (91,910,897) (92,783,632)

Prepared on Australian Accounting Standards basis.

Table 3.2.8: Schedule of budgeted assets and liabilities administered on behalf of Government
(as at 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
ASSETS          
Financial assets          
Cash and cash equivalents - - - - -
Advances and loans 810,822 954,862 985,765 959,392 822,115
Receivables 2,596,088 1,797,261 314,496 751,413 888,501
Investments 32,565,700 38,648,559 38,894,339 39,171,667 39,430,834
Total financial assets 35,972,610 41,400,682 40,194,600 40,882,472 41,141,450
Non-financial assets          
Other non-financial assets 410 - - - -
Total non-financial assets 410 - - - -
Total assets administered on behalf of Government 35,973,020 41,400,682 40,194,600 40,882,472 41,141,450
LIABILITIES          
Payables          
Grants 599,937 66,267 57,060 50,532 40,754
Other payables 5,642,592 5,650,229 5,669,473 5,705,483 5,730,232
Unearned income 77,019 55,008 37,968 24,611 12,698
Total payables 6,319,548 5,771,504 5,764,501 5,780,626 5,783,684
Interest bearing liabilities          
Loans 4,824,704 9,877,861 9,354,089 9,329,946 9,305,531
Total interest bearing liabilities 4,824,704 9,877,861 9,354,089 9,329,946 9,305,531
Provisions          
Provisions for grants 1,816,251 456,733 186,693 - -
Total provisions 1,816,251 456,733 186,693 - -
Total liabilities administered on behalf of Government 12,960,503 16,106,098 15,305,283 15,110,572 15,089,215
Net assets/(liabilities) 23,012,517 25,294,584 24,889,317 25,771,900 26,052,235

Prepared on Australian Accounting Standards basis.

Table 3.2.9: Schedule of budgeted administered cash flows
(for the period ended 30 June)
  2014-15
Actual
$'000
2015-16
Revised budget
$'000
2016-17
Forward estimate
$'000
2017-18
Forward estimate
$'000
2018-19
Forward estimate
$'000
OPERATING ACTIVITIES          
Cash received          
Sale of goods and rendering of services 109,280 75,290 107,914 104,470 103,347
Interest 1,261 799 1,679 3,306 9,348
Dividends 675,255 1,616,963 1,782,208 316,500 709,000
COAG receipts from entites 16,628,197 15,963,622 19,899,717 20,629,756 2,023,465
Other 99,847 4,371 4,500 4,600 4,700
Total cash received 17,513,840 17,661,045 21,796,018 21,058,632 2,849,860
Cash used          
Grant payments 100,495,444 106,055,749 112,386,558 113,650,980 95,795,234
Interest paid 3,312 2,989 5,914 11,822 35,565
Other 29,325 6,266 1,828 1,142 1,207
Total cash used 100,528,081 106,065,004 112,394,300 113,663,944 95,832,006
Net cash from/(used by) operating activities (83,014,241) (88,403,959) (90,598,282) (92,605,312) (92,982,146)
INVESTING ACTIVITIES          
Cash received          
Advances and loans 360,317 61,879 28,176 52,188 149,681
Other investing activities 748,795 - - - -
Total cash received 1,109,112 61,879 28,176 52,188 149,681
Cash used          
Purchase of investments 27,295 2,140,890 725,185 226,423 227,998
Advances and loans 40,824 201,600 50,000 12,500 -
Total cash used 68,119 2,342,490 775,185 238,923 227,998
Net cash from/(used by) investing activities 1,040,993 (2,280,611) (747,009) (186,735) (78,317)
Net increase/(decrease) in cash held (81,973,248) (90,684,570) (91,345,291) (92,792,047) (93,060,463)
Cash and cash equivalents at beginning of reporting period 1,412 - - - -
Cash from Official Public Account for:          
- Appropriations 84,964,552 92,772,193 96,126,715 95,731,355 96,060,004
Cash to Official Public Account for:          
- Appropriations (2,992,716) (2,087,623) (4,781,424) (2,939,308) (2,999,541)
Cash and cash equivalents at end of reporting period - - - - -

Prepared on Australian Accounting Standards basis.

Table 3.2.10: Schedule of administered capital budget
(for the period ended 30 June)
  2014-15
Actual
$'000
2015-16
Revised
budget
$'000
2016-17
Forward
estimate
$'000
2017-18
Forward
estimate
$'000
2018-19
Forward
estimate
$'000
NEW CAPITAL APPROPRIATIONS          
Special appropriations 68,082 2,304,990 725,125 226,423 227,998
Total new capital appropriations 68,082 2,304,990 725,125 226,423 227,998
Provided for:          
International financial institutions 68,082 2,304,990 725,125 226,423 227,998
Total Items 68,082 2,304,990 725,125 226,423 227,998

Prepared on Australian Accounting Standards basis.

Notes to the financial statements

Accounting policy

The Treasury's budgeted financial statements have been prepared on an accrual accounting basis having regard to statements of accounting concepts, and in accordance with:

  • the Government's financial budgeting and reporting framework; and
  • Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board.
Departmental and administered items

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.