Productivity Commission
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
Section 3: Explanatory Tables and Budgeted Financial Statements
3.2	Budgeted financial statements

Productivity Commission
Section 1: Entity Overview and Resources
1.1	Strategic Direction
There has been no significant change to the strategic direction of the Productivity Commission (the Commission) from that outlined in the Portfolio Budget Statements 2014‑15 (pages 339‑340).
The Commission is seeking an additional $0.29 million in departmental funding through Appropriation Bill (No. 3) 2014‑15. This comprises an additional $0.293 million which is offset by savings of $4,000. 
The additional $0.293 million relates to undertaking triennial assessments of progress on implementation of the National Water Initiative, and five‑yearly audits of the implementation of the Murray Darling Basin Plan and associated water resource plans, as part of a reallocation of responsibilities of the National Water Commission. This measure was outlined in Budget Paper No. 2, Budget Measures 2014‑15.
The savings of $4,000 relates to the Communications and Public Affairs Functions — targeted savings measure outlined in Budget Paper No. 2, Budget Measures 2014‑15.
1.2	Entity Resource Statement
The Entity Resource Statement details the resourcing for the Commission 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 No. 3. 

Table 1.1: Productivity Commission Resource Statement — Additional Estimates for 2014‑15 as at Additional Estimates February 2015

(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 $0.9m 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. 

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. 
Table 1.2: Entity 2014‑15 Measures since Budget

Prepared on a Government Financial Statistics (fiscal) basis.
(1)	This measure was included in Budget Paper No. 2, Budget Measures 2014‑15 and has not previously appeared in a portfolio statement.

1.4	Additional Estimates and variations
The following table detail the changes to the resourcing for the Commission 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 1.3: Additional Estimates and variations to outcomes from measures since 2014‑15 Budget

(1)	This measure was included in Budget Paper No. 2, Budget Measures 2014‑15 and has not previously appeared in a portfolio statement.

1.5	Breakdown of additional estimates by appropriation bill
The following table details the Additional Estimates sought for the Productivity Commission 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
There has been no change to the outcome or outcome strategy for the Commission from that included in the Portfolio Budget Statements 2014‑15 (page 342).
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 s74 of the PGPA Act 2013’.
(2)	Expenses not requiring appropriation in the Budget year is made up of Depreciation Expense, Amortisation Expense, and Audit Fees.
Programme Objective 1.1 Productivity Commission
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. 
Programme Expenses 1.1
Table 2.2 Programme 1.1 Expenses

(1)	Expenses not requiring appropriation in the Budget year is made up of Depreciation Expense, Amortisation Expense, and Audit Fees.

Section 3: Explanatory Tables and Budgeted Financial Statements
3.2	Budgeted financial statements
3.2.1	Analysis of Budgeted Financial Statements
The Commission is budgeting for a breakeven result in 2014‑15. 
3.2.2	Budgeted Financial Statements
Table 3.2.1: Budgeted Departmental comprehensive income statement (showing net cost of services)

(1)	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, or 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)

Prepared on Australian Accounting Standards basis.
Table 3.2.3: Departmental statement of changes in equity — summary of movement (Budget Year 2014‑15)

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

(1)	Include purchase from current and previous years’ Departmental Capital Budgets (DCBs).
(2)	Includes the following sources of funding current and prior year Act 1 and Bills 3/5 appropriations (excluding amounts from the DCB) and s74 Retained Revenue Receipts.
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)

(1)	‘Appropriation ordinary annual services’ refers to funding provided through Appropriation Act No. 1 and Bill No. 3 2014‑15 for depreciation/amortisation expenses, DCBs or other operational expenses.
Prepared on Australian Accounting Standards basis.