Department of the Treasury
Section 1: Entity Overview and Resources
1.1	Strategic Direction
1.2	Entity Resource Statement
1.3	Entity measures table
1.4	Additional estimates and variations
1.5	Breakdown of additional estimates by appropriation bill
Section 2: Revisions to entity resources and planned performance
2.1	Resources and performance information
Outcome 1
Section 3: Explanatory tables and budgeted financial statements
3.1	Explanatory tables
3.2	Budgeted financial statements

Department of the Treasury
Section 1: Entity 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 2014‑15 (pages 15‑17).
As a result of Administrative Arrangements Orders in December 2015 small business programmes were transferred to the Treasury from the Department of Industry. 
The Treasury is seeking an additional $0.62 million in departmental funding through Appropriation Bill (No. 3) 2014‑15. This comprises an additional $0.65 million for the Global Infrastructure Hub measure outlined in the Mid‑Year Economic and Fiscal Outlook 2014‑15, offset by $9,000 for the Communications and Public Affairs Functions — targeted savings measure outlined in Budget Paper No. 2, Budget Measures 2014‑15 and $21,000 for the Internet Based Network Connection Services savings outlined in the Mid‑Year Economic and Fiscal Outlook 2009‑10 and Budget Paper No. 2, Budget Measures 2010‑11.
The Treasury is seeking an additional $4.7 million in administered funding through Appropriation Bill (No. 3) 2014‑15. This comprises $3.4 million for the Global Infrastructure Hub measure outlined in the Mid‑Year Economic and Fiscal Outlook 2014‑15 and $1.3 million for the International Monetary Fund (IMF) Poverty Reduction and Growth Trust.
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 2014‑15 Budget year, including variations through Appropriation Bill Nos. 3 and 4, Special Appropriations and Special Accounts. 

Table 1.1: Department of the Treasury resource statement — additional estimates for 2014‑15 as at Additional Estimates February 2015

Table 1.1: Department of the Treasury resource statement — additional estimates for 2014‑15 as at Additional Estimates February 2015 (continued)

1.	Appropriation Act (No. 1) 2014‑15 and Appropriation Bill (No. 3) 2014‑15.
2.	Estimated adjusted balance carried from previous year for annual appropriations.
3.	Includes an amount of $5.373m in 2014‑15 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’.
4.	Estimated retained revenue receipts under section 74 of the Public Governance, Performance and Accountability (PGPA) Act 2013. 
5.	‘Corporate Entities’ are Corporate Commonwealth Entities and Commonwealth Companies as defined under the PGPA Act 2013.
6.	Appropriation Act (No. 2) 2014‑15 and Appropriation Bill (No. 4) 2014‑15.
7.	Estimated opening balance for special accounts (less ‘Special Public Money’ held in a Services for Other Entities and Trust Moneys Special Accounts (SOETM)). For further information on Special Accounts see Table 3.1.1.
8.	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. 

1.3	Entity measures table
Table 1.2 summarises new Government measures taken since the 2014‑15 Budget. The table is split into revenue, expense and capital measures, with the affected programme identified.
Table 1.2: Entity 2014‑15 measures since Budget

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 2014‑15 Budget in Appropriation Bill No. 3. 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 2014‑15 Budget

1.	The Global Infrastructure Hub measure was outlined in the Mid‑Year Economic and Fiscal Outlook 2014‑15.

Table 1.4: Additional estimates and variations to outcomes from other variations

(1)	As a result of Administrative Arrangement Orders in December 2014, small business programmes were transferred from the Department of Industry and Science to the Treasury.
(2)	Relates to the transfer of funding from the Treasury to the Australian Securities and Investments Commission for the development and implementation of the North Queensland Insurance Comparison Website.

1.5	Breakdown of additional estimates by appropriation bill
The following tables detail the Additional Estimates sought for the Treasury through Appropriation Bill No. 3.
Table 1.5: Appropriation Bill (No. 3) 2014‑15

Section 2: Revisions to entity resources and planned performance
2.1	Resources 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 2014‑15 (pages 23‑24).
There has been no significant change to the program objective, expenses, deliverables or key performance indicators for programs 1.4 to 1.10 that affect Appropriation Bills Nos. 3 and 4.
Programs 1.4 to 1.10 relate to Australia’s Federal Relations. Further details of Australia’s Federal Relations are on pages 80 to 89 of the Mid‑Year Economic and Fiscal Outlook 2014‑15.
Table 2.1 Budgeted expenses and resources for Outcome 1

(1)	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’.
(2)	Expenses not requiring appropriation includes Depreciation Expense, Amortisation Expense, and foreign exchange losses.

Programme Objective 1.1 — Department of the Treasury
There has been no significant change to the program objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2014‑15.
On 16 November 2014, G20 Leaders agreed to establish a Global Infrastructure Hub in Sydney to help implement the G20 multi‑year infrastructure initiative. The Hub will work internationally to leverage greater private sector involvement in infrastructure. It will do this through information development, knowledge sharing, training and the implementation of leading practices. The Australian government will contribute $30 million to the establishment and operation of the Hub until 2018. Additional financial contributions, and in‑kind resourcing, are also expected from other governments, international organisations, development banks and the private sector.
In December 2014 Treasury transferred funding for the development and implementation of the North Queensland Insurance Comparison Website to the Australian Securities and Investments Commission.
Programme expense 1.1
Table 2.2: Programme expenses 1.1

(1)	Expenses not requiring appropriation in the Budget year is made up of Depreciation Expense, Amortisation Expense, and foreign exchange losses.
Programme Objective 1.2 — Payments to international financial institutions
There has been no significant change to the program objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2014‑15.
In 2014‑15 Treasury will provide a contribution to the IMF Poverty Reduction and Growth Trust.
Programme expenses 1.2
Table 2.3: Programme expenses 1.2

(1)	Expenses not requiring appropriation includes Depreciation Expense, Amortisation Expense, and foreign exchange losses.
Programme Objective 1.3 — Support for markets and business
There has been no significant change to the program objective, deliverables or key performance indicators from that included in the Portfolio Budget Statements 2014‑15.
As a result of Administrative Arrangements Orders in December 2014,  small business programmes were transferred to the Treasury from the Department of Industry and Science. 
The Treasury is also contributing administered funds to the Global Infrastructure Hub as outlined under Programme 1.1 above.
Program expense 1.3
Table 2.4: Programme expenses 1.3

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 2014‑15 PB Statements is Table 3.1.1.
Table 3.1.1: Estimates of special account flows and balances

(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 2014‑15.
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
Table 3.2.1: Budgeted departmental comprehensive income statement (showing net cost of services)

Prepared on Australian Accounting Standards basis.
Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)

Prepared on Australian Accounting Standards basis.

Table 3.2.3: Departmental statement of changes in equity — summary of movement (Budget Year 2014‑15)

(1)	The equity injection appropriation will be transferred to the Australian Securities and Investments Commission for the development and implementation of the North Queensland Insurance Comparison Website.
Prepared on Australian Accounting Standards basis.
Table 3.2.4: Budgeted departmental statement of cash flows (as at 30 June)

Prepared on Australian Accounting Standards basis.
Table 3.2.5: Capital budget statement — departmental

Consistent with information contained in the Statement of Asset Movements and the Budgeted Statement of Cash Flows.

Table 3.2.6: Statement of asset movements (2014‑15)

Prepared on Australian Accounting Standards basis.
Schedule of administered activity
Table 3.2.7: Schedule of budgeted income and expenses administered on behalf of Government (for the period ended 30 June)

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)

Prepared on Australian Accounting Standards basis.

Table 3.2.9: Schedule of budgeted administered cash flows (for the period ended 30 June)
Prepared on Australian Accounting Standards basis.

Table 3.2.10: Schedule of administered capital budget

Consistent with information contained in the Statement of Asset Movements and the Budgeted Statement of Cash Flows.
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
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
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.