Appendix 1 Uniform Government Reporting

Key Issues

       The estimated Net Operating Balance for 2015-16 is a deficit of $0.7 million for the PNFC Sector, a deficit of $59.2 million for the TNFP Sector, a deficit of $27.6 million for the PFC Sector and a deficit of $86.9 million for the Total State Sector.

       The estimated Fiscal Balance for 2015-16 is a deficit of $184.4 million for the PNFC Sector, a deficit of $341.5 million for the TNFP Sector, a deficit of $28.7 million for the PFC Sector and a deficit of $370.1 million for the Total State Sector.

       As at 30 June 2016, PNFC Net Debt is forecast to be $2 452.2 million, TNFP Sector Net Debt is forecast to be $2 199.6 million, PFC Net Debt is forecast to be negative $1 459.9 million and Total State Sector Net Debt is forecast to be $739.7 million.

       Details for the General Government Sector are included in chapter 4 of this Budget Paper.


Introduction

The financial information in this appendix has been prepared in accordance with the Uniform Presentation Framework (UPF). This appendix provides Income Statement, Balance Sheet and Cash Flow Statement estimates for the:

       Public Non‑Financial Corporations (PNFC) Sector;

       Total Non‑Financial Public (TNFP) Sector;

       Public Financial Corporations (PFC) Sector; and

       Total State Sector.

Details for the General Government Sector are provided in chapter 4 of this Budget Paper.

The statements present the 2015-16 Budget Estimates and Forward Estimates for the period 2016-17 to 2018‑19. For taxation information required under the UPF, refer to chapter 5 of this Budget Paper.

In accordance with the UPF, the final end of year results for 2014‑15 will be released in the Treasurer's Annual Financial Report 2014‑15. The Report will be publicly released by no later than 31 October 2015.

Loan Council Allocation

Under Loan Council arrangements, every year the Australian Government and each state and territory nominate a Loan Council Allocation (LCA). A jurisdiction's LCA incorporates:

       the estimated Cash Deficit/(Surplus) of the General Government and PNFC Sectors;

       Net Cash Flows from Investments in Financial Assets for Policy Purposes; and

       Memorandum Items, which are other financing transactions that are treated as borrowing equivalents for Loan Council purposes.

The Loan Council evaluates LCA nominations by referring to each jurisdiction's fiscal position and the macro‑economic implications of the aggregate figure.


Table A1.1 compares Tasmania's 2015-16 LCA approved by the Loan Council in March 2015, with the revised LCA based on 2015-16 Budget estimates.

Table A1.1 Loan Council Allocation 2015-16

 

2015-16 

2015-16 

 

)

Budget 

 

Nomination 

Estimate 

 

$m 

$m 

 

 

 

General Government Cash Deficit/(Surplus)

28.2 

56.4 

Public Non‑Financial Corporations Sector Cash Deficit/(Surplus)

210.7 

215.7 

Non‑Financial Public Sector Cash Deficit/(Surplus)

238.9 

272.1 

 

 

 

Less Non‑Financial Public Sector Net Cash Flows from Investments in Financial Assets for Policy Purposes

(1.7)

(4.3)

Plus Memorandum Items1

56.5 

82.2 

 

 

 

Loan Council Allocation Deficit/(Surplus)

297.1 

358.6 

 

 

 

2015-16 Tolerance Limit2

165.4 

160.2 

 

 

 

Notes:

1. Memorandum Items include borrowings by local government (including TasWater) and the University of Tasmania.

2. The Tolerance Limit is equal to two per cent of Total Non‑Financial Public Sector Cash Receipts from Operating Activities and applies from the time that the LCA is approved by the Loan Council until the budgeted LCA is released. The Tolerance Limit will change with each revision to the Budget. The Tolerance Band recognises that LCAs are nominated at early stages of the Budget process and that estimates are likely to change as a result.

 

The 2015-16 revised Budget estimate is a deficit of $358.6 million, an increase of $61.5 million which is within the Tolerance Limit of $165.4 million estimated for Tasmania in March 2015. If a jurisdiction is likely to exceed its Tolerance Limit, it must provide an explanation to the Loan Council and make that explanation public.

The LCA Outcome for 2014‑15 will be presented in the Treasurer's Annual Financial Report 2014‑15.


Government Financial Estimates

Tables A1.2 to A1.13 provide details of the Income Statements, Balance Sheets and Cash Flow Statements for the PNFC Sector, TNFP Sector, PFC Sector and Total State Sector respectively.

Table A1.2: Public Non‑Financial Corporations Sector Income Statement

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

144.7 

175.1 

185.9 

150.8 

138.7 

Sales of Goods and Services

2 882.5 

2 645.1 

2 799.0 

2 877.1 

3 001.6 

Interest Income

9.6 

8.6 

7.9 

7.9 

8.2 

Other Revenue

65.7 

60.0 

60.1 

61.4 

62.3 

3 102.5 

2 888.7 

3 052.9 

3 097.1 

3 210.8 

 

 

 

 

 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

356.7 

365.3 

375.9 

390.0 

398.2 

Superannuation

33.9 

32.2 

32.5 

32.9 

32.6 

Depreciation

318.7 

319.4 

302.7 

310.0 

317.0 

Supplies and Consumables

1 858.7 

1 686.8 

1 770.2 

1 858.8 

1 963.8 

Nominal Superannuation Interest Expense

28.0 

29.9 

30.6 

31.3 

31.9 

Borrowing Costs

188.7 

189.0 

185.9 

173.6 

172.3 

Dividend and Income Tax Equivalent Expenses

204.8 

163.2 

171.7 

208.6 

205.8 

Grant Expenses

36.8 

36.8 

35.0 

33.2 

31.6 

Other Expenses

72.7 

66.8 

65.2 

61.2 

55.9 

3 099.0 

2 889.4 

2 969.7 

3 099.5 

3 209.1 

 

 

 

 

 

Equals NET OPERATING BALANCE

3.5 

(0.7)

83.2 

(2.4)

1.6 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Movement in Superannuation Liability

(50.5)

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(115.6)

(27.0)

(107.8)

(26.3)

(1.2)

(166.1)

(27.0)

(107.8)

(26.3)

(1.2)

 

 

 

 

 

Equals Operating Result

(162.6)

(27.7)

(24.5)

(28.6)

0.4 

 

 


Table A1.2: Public Non‑Financial Corporations Sector Income Statement (continued)

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

Revaluations of Non‑Financial Assets

(310.0)

(21.7)

1.4 

51.9 

54.2 

Other Non‑Owner Movements in Equity

385.3 

117.9 

54.2 

12.7 

8.4 

75.2 

96.2 

55.7 

64.6 

62.6 

 

 

 

 

 

Equals Comprehensive Result

(87.3)

68.5 

31.1 

36.0 

62.9 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

3.5 

(0.7)

83.2 

(2.4)

1.6 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

390.9 

507.4 

433.0 

397.0 

362.8 

Less Sale of Non‑Financial Assets

1.3 

4.3 

.... 

0.2 

0.1 

Less Depreciation

318.7 

319.4 

302.7 

310.0 

317.0 

70.9 

183.7 

130.2 

86.7 

45.7 

 

 

 

 

 

Equals FISCAL BALANCE

(67.4)

(184.4)

(47.0)

(89.1)

(44.1)

 


Table A1.3 Public Non‑Financial Corporations Sector Balance Sheet as at 30 June

2015 

2016 

2017 

2018 

2019 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

237.7 

197.2 

190.9 

206.4 

200.7 

Investments

15.2 

14.6 

14.0 

13.5 

13.1 

Other Equity Investments

81.3 

79.8 

78.1 

76.8 

76.0 

Receivables

513.3 

507.1 

503.6 

494.4 

490.3 

Other Financial Assets

863.0 

879.4 

875.8 

874.3 

874.5 

1 710.6 

1 678.0 

1 662.3 

1 665.5 

1 654.5 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

215.1 

216.1 

215.0 

213.9 

212.7 

Infrastructure

7 334.2 

7 418.1 

7 470.8 

7 562.3 

7 654.6 

Plant and Equipment

308.5 

325.4 

339.6 

355.9 

361.3 

Biological Assets

89.9 

108.8 

108.8 

108.8 

108.8 

Investment Property

0.6 

0.6 

0.6 

0.6 

0.6 

Intangibles

50.0 

52.2 

55.1 

58.6 

62.4 

Other Non‑Financial Assets

125.1 

247.5 

237.4 

195.6 

195.3 

8 123.4 

8 368.6 

8 427.2 

8 495.7 

8 595.6 

 

 

 

 

 

Total Assets

9 833.9 

10 046.7 

10 089.5 

10 161.2 

10 250.1 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

2 542.4 

2 664.0 

2 641.1 

2 663.9 

2 651.1 

Superannuation

552.2 

566.0 

578.6 

589.9 

599.6 

Employee Entitlements

109.1 

110.7 

111.3 

113.5 

114.4 

Payables

451.9 

432.7 

431.8 

428.7 

425.7 

Other Liabilities

2 246.0 

2 221.2 

2 213.6 

2 193.6 

2 202.3 

Total Liabilities

5 901.7 

5 994.6 

5 976.4 

5 989.6 

5 993.1 

 

 

 

 

 

NET ASSETS

3 932.2 

4 052.1 

4 113.2 

4 171.6 

4 257.0 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

1 504.4 

1 449.4 

1 398.4 

1 384.9 

1 387.6 

Asset Revaluation Reserve

587.4 

565.8 

567.2 

619.1 

673.3 

Other Equity

1 840.3 

2 036.9 

2 147.5 

2 167.5 

2 196.1 

Total Equity

3 932.2 

4 052.1 

4 113.2 

4 171.6 

4 257.0 


Table A1.3: Public Non‑Financial Corporations Sector Balance Sheet as at 30 June (continued)

2015 

2016 

2017 

2018 

2019 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

KEY FISCAL AGGREGATES

 

 

NET WORTH1

3 932.2 

4 052.1 

4 113.2 

4 171.6 

4 257.0 

NET FINANCIAL WORTH2

(4 191.2)

(4 316.6)

(4 314.1)

(4 324.1)

(4 338.6)

NET FINANCIAL LIABILITIES3

4 191.2 

4 316.6 

4 314.1 

4 324.1 

4 338.6 

NET DEBT4

2 289.5 

2 452.2 

2 436.3 

2 444.0 

2 437.3 

 

 

Notes:

1. Net Worth represents Total Assets (both Financial and Non‑Financial) less Total Liabilities.

2. Net Financial Worth represents Total Financial Assets less Total Liabilities.

3. Net Financial Liabilities represents Total Liabilities less Financial Assets. For the PNFC Sector this is equivalent to negative Net Financial Worth.

4. Net Debt represents Borrowings less the sum of Cash and Deposits and Investments.

 


Table A1.4: Public Non‑Financial Corporations Sector Cash Flow Statement

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Cash Flows from Operating Activities

 

 

 

 

 

Cash Received from Operating Activities

 

 

 

 

 

Grants Received

147.8 

178.5 

189.3 

154.0 

141.8 

Sales of Goods and Services

2 867.6 

2 621.9 

2 768.7 

2 856.3 

2 974.1 

Interest Received

9.3 

8.4 

7.8 

7.8 

8.2 

Other Receipts

139.0 

139.6 

142.3 

135.5 

134.1 

3 163.8 

2 948.5 

3 108.0 

3 153.6 

3 258.1 

 

 

 

 

 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(376.9)

(385.3)

(394.5)

(410.7)

(416.8)

Superannuation

(82.5)

(84.3)

(84.8)

(86.0)

(86.0)

Supplies and Consumables

(1 842.6)

(1 648.8)

(1 720.0)

(1 770.4)

(1 919.4)

Borrowing Costs

(152.7)

(168.3)

(160.5)

(148.1)

(146.6)

Grants and Subsidies Paid

(38.6)

(36.8)

(35.0)

(33.2)

(31.6)

Other Payments

(146.6)

(165.3)

(141.8)

(128.8)

(117.7)

(2 639.9)

(2 488.8)

(2 536.6)

(2 577.2)

(2 718.1)

 

 

 

 

 

Net Cash Flows from Operating Activities

523.9 

459.7 

571.4 

576.4 

540.0 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(390.9)

(507.4)

(433.0)

(397.0)

(362.8)

Sales of Non‑Financial Assets

1.3 

4.3 

.... 

0.2 

0.1 

(389.6)

(503.1)

(433.0)

(396.8)

(362.7)

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

23.4 

51.4 

30.0 

22.5 

22.5 

23.4 

51.4 

30.0 

22.5 

22.5 

 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

2.6 

2.2 

2.3 

1.8 

1.2 

2.6 

2.2 

2.3 

1.8 

1.2 

 

Net Cash Flows from Investing Activities

(363.7)

(449.5)

(400.7)

(372.5)

(339.0)

 

 


Table A1.4: Public Non‑Financial Corporations Sector Cash Flow Statement (continued)

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowing

179.6 

121.6 

(22.9)

22.8 

(12.8)

Dividends and Tax Equivalents Paid

(360.9)

(172.2)

(154.2)

(211.1)

(193.9)

Net Cash Flows from Financing Activities

(181.3)

(50.7)

(177.1)

(188.3)

(206.8)

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(21.1)

(40.5)

(6.3)

15.6 

(5.8)

 

 

 

 

 

Cash at Beginning of the Year

258.9 

237.7 

197.2 

190.9 

206.4 

Cash at End of the Year

237.7 

197.2 

190.9 

206.4 

200.7 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

523.9 

459.7 

571.4 

576.4 

540.0 

Plus Net Cash Flows from Non‑Financial Assets

(389.6)

(503.1)

(433.0)

(396.8)

(362.7)

Plus Dividends and Tax Equivalents Paid

(360.9)

(172.2)

(154.2)

(211.1)

(193.9)

Equals CASH SURPLUS/(DEFICIT)

(226.6)

(215.7)

(15.7)

(31.5)

(16.7)

 

 


Table A1.5: Total Non‑Financial Public Sector Income Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

3 094.3 

3 453.3 

3 530.4 

3 558.4 

3 736.7 

Taxation

953.3 

982.5 

999.1 

1 019.2 

1 039.8 

Sales of Goods and Services

3 206.0 

2 969.3 

3 120.6 

3 206.2 

3 336.1 

Fines and Regulatory Fees

92.9 

96.1 

97.8 

91.7 

86.6 

Interest Income

27.8 

25.2 

24.3 

27.1 

28.7 

Dividend, Tax and Rate Equivalent Income

164.3 

50.2 

47.0 

46.8 

36.0 

Other Revenue

216.3 

203.3 

200.5 

201.1 

206.3 

 

7 755.0 

7 780.2 

8 019.7 

8 150.7 

8 470.1 

 

 

 

 

 

 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

2 549.9 

2 602.6 

2 606.0 

2 661.1 

2 715.6 

Superannuation

323.2 

294.0 

295.5 

297.1 

298.9 

Depreciation

606.0 

604.7 

596.9 

622.5 

636.7 

Supplies and Consumables

2 878.6 

2 712.3 

2 799.1 

2 904.8 

3 005.8 

Nominal Superannuation Interest Expense

296.2 

315.6 

323.3 

330.4 

336.6 

Borrowing Costs

175.2 

176.7 

175.9 

166.8 

165.3 

Grant Expenses

1 018.9 

1 062.3 

974.1 

1 024.1 

1 076.5 

Other Expenses

89.6 

71.3 

64.2 

58.3 

50.7 

 

7 937.6 

7 839.4 

7 835.0 

8 065.1 

8 286.1 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(182.6)

(59.2)

184.7 

85.6 

184.0 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Gain/(Loss) on Sale of Non‑Financial Assets

16.0 

11.1 

10.7 

10.8 

10.8 

Movement in Investments in GBEs and SOCs

(61.4)

(9.6)

(5.3)

(2.6)

10.4 

Movement in Superannuation Liability

1 364.2 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(315.7)

(60.9)

(113.5)

(23.7)

(5.8)

 

1 003.0 

(59.3)

(108.1)

(15.6)

15.3 

 

 

 

 

 

 

Equals Operating Result

820.4 

(118.6)

76.6 

70.0 

199.4 

 

 

 

 

 

 

 


Table A1.5: Total Non‑Financial Public Sector Income Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

Revaluations of Non‑Financial Assets

(35.2)

268.5 

317.7 

354.5 

358.5 

Other Flows

372.4 

121.7 

58.0 

4.3 

.... 

 

337.2 

390.1 

375.7 

358.8 

358.5 

 

 

 

 

 

 

Equals Comprehensive Result

1 157.6 

271.6 

452.3 

428.8 

557.9 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(182.6)

(59.2)

184.7 

85.6 

184.0 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

681.4 

921.4 

985.0 

846.1 

787.7 

Less Sale of Non‑Financial Assets

41.8 

34.5 

29.5 

30.3 

29.8 

Less Depreciation

606.0 

604.7 

596.9 

622.5 

636.7 

 

33.6 

282.2 

358.7 

193.3 

121.2 

 

 

 

 

 

 

Equals FISCAL BALANCE

(216.3)

(341.5)

(174.0)

(107.7)

62.8 

 

 

 

 

 

 

 


Table A1.6: Total Non‑Financial Public Sector Balance Sheet as at 30 June

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

1 374.2 

1 086.5 

888.9 

914.3 

878.8 

Investments

77.4 

79.1 

80.3 

81.7 

83.6 

Equity Investment in PFC Sector

472.5 

463.0 

457.6 

455.0 

465.4 

Other Equity Investments

99.0 

99.7 

98.5 

97.7 

97.2 

Receivables

848.0 

838.5 

830.0 

817.6 

811.1 

Other Financial Assets

812.8 

810.1 

813.2 

807.1 

802.9 

 

3 684.0 

3 376.9 

3 168.5 

3 173.4 

3 138.9 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

6 015.1 

6 185.3 

6 496.7 

6 718.0 

6 839.0 

Infrastructure

11 783.5 

12 087.0 

12 387.0 

12 677.8 

13 034.7 

Plant and Equipment

554.8 

578.9 

582.9 

593.2 

599.2 

Heritage and Cultural Assets

478.5 

490.6 

502.8 

515.0 

527.2 

Biological Assets

89.9 

108.8 

108.8 

108.8 

108.8 

Investment Property

19.2 

19.6 

19.8 

20.1 

20.4 

Intangibles

95.0 

97.6 

101.5 

103.4 

104.1 

Assets Held for Sale

7.9 

7.0 

6.0 

5.1 

4.1 

Other Non‑Financial Assets

155.8 

278.1 

267.9 

224.0 

224.2 

 

19 199.7 

19 852.8 

20 473.5 

20 965.4 

21 461.8 

 

 

 

 

 

 

Total Assets

22 883.7 

23 229.8 

23 642.0 

24 138.8 

24 600.7 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

3 377.0 

3 365.3 

3 191.4 

3 134.0 

2 906.8 

Superannuation

5 890.6 

6 036.4 

6 170.6 

6 291.3 

6 394.8 

Employee Entitlements

688.0 

660.6 

678.7 

698.3 

726.4 

Payables

563.5 

541.2 

541.3 

540.1 

537.7 

Other Liabilities

1 877.0 

1 867.1 

1 848.4 

1 834.6 

1 836.7 

Total Liabilities

12 396.1 

12 470.6 

12 430.5 

12 498.4 

12 402.5 

 

 

 

 

 

 

NET ASSETS

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

 

 

 

 

 

 


 

Table A1.6: Total Non‑Financial Public Sector Balance Sheet as at 30 June (continued)

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

5 143.2 

5 146.3 

5 281.0 

5 355.3 

5 554.7 

Asset Revaluation Reserve

5 344.4 

5 612.8 

5 930.6 

6 285.0 

6 643.5 

Total Equity

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

NET FINANCIAL WORTH2

(8 712.1)

(9 093.6)

(9 262.0)

(9 325.0)

(9 263.6)

NET FINANCIAL LIABILITIES3

9 184.7 

9 556.6 

9 719.6 

9 780.0 

9 728.9 

NET DEBT4

1 925.4 

2 199.6 

2 222.1 

2 138.0 

1 944.5 

 

 

 

 

 

 

Notes:

1. Net Worth represents Total Assets (both Financial and Non‑Financial) less Total Liabilities.

2. Net Financial Worth represents Total Financial Assets less Total Liabilities.

3. Net Financial Liabilities represents Total Liabilities less Financial Assets, excluding Equity Investment in the PFC Sector.

4. Net Debt represents Borrowings less the sum of Cash and Deposits and Investments.

 


Table A1.7: Total Non‑Financial Public Sector Cash Flow Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Operating Activities

 

 

 

 

 

Cash Receipts from Operating Activities

 

 

 

 

 

Grants Received

3 095.2 

3 455.6 

3 533.8 

3 561.6 

3 739.8 

Taxation

953.5 

982.6 

999.4 

1 019.6 

1 039.8 

Sales of Goods and Services

3 197.0 

2 944.8 

3 090.3 

3 183.6 

3 305.7 

Fines and Regulatory Fees

92.9 

96.1 

97.8 

91.7 

86.6 

Interest Received

27.7 

25.1 

24.2 

27.1 

28.7 

Dividend, Tax and Rate Equivalents

216.0 

52.8 

49.8 

53.6 

37.8 

Other Receipts

458.9 

452.8 

454.8 

449.4 

454.2 

 

8 041.3 

8 009.8 

8 250.1 

8 386.7 

8 692.7 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(2 564.7)

(2 646.3)

(2 611.9)

(2 669.9)

(2 716.3)

Superannuation

(509.7)

(502.4)

(511.9)

(531.9)

(551.4)

Supplies and Consumables

(2 879.8)

(2 691.9)

(2 763.2)

(2 827.8)

(2 976.5)

Borrowing Costs

(139.3)

(156.0)

(150.4)

(141.3)

(139.8)

Grants and Subsidies Paid

(1 021.1)

(1 062.3)

(974.1)

(1 024.0)

(1 076.5)

Other Payments

(331.3)

(339.7)

(312.9)

(299.7)

(288.4)

 

(7 445.9)

(7 398.6)

(7 324.3)

(7 494.7)

(7 748.8)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

595.4 

611.3 

925.8 

892.0 

943.9 

 

 

 

 

 

 

Cash flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(681.0)

(917.8)

(979.0)

(839.1)

(780.6)

Sales of Non‑Financial Assets

46.0 

34.5 

29.5 

30.3 

29.8 

 

(635.0)

(883.4)

(949.5)

(808.8)

(750.9)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

(6.8)

(2.3)

(0.4)

(0.4)

(0.4)

Net Advances Paid

(13.8)

(2.0)

(2.0)

(2.0)

(2.2)

 

(20.6)

(4.3)

(2.4)

(2.4)

(2.6)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

2.6 

2.2 

2.3 

1.8 

1.2 

 

2.6 

2.2 

2.3 

1.8 

1.2 

 

 

 

 

 

 

Net Cash Flows from Investing Activities

(653.0)

(885.4)

(949.6)

(809.4)

(752.2)


Table A1.7: Total Non‑Financial Public Sector Cash Flow Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowings

(135.6)

(13.4)

(173.8)

(57.2)

(227.2)

Net Cash Flows from Financing Activities

(135.6)

(13.4)

(173.8)

(57.2)

(227.2)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(193.2)

(287.6)

(197.6)

25.4 

(35.5)

 

 

 

 

 

 

Cash at Beginning of the Year

1 567.4 

1 374.2 

1 086.5 

888.9 

914.3 

Cash at End of the Year

1 374.2 

1 086.5 

888.9 

914.3 

878.8 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

595.4 

611.3 

925.8 

892.0 

943.9 

Plus Net Cash Flows from Non‑Financial Assets

(635.0)

(883.4)

(949.5)

(808.8)

(750.9)

Equals CASH SURPLUS/(DEFICIT)

(39.6)

(272.1)

(23.7)

83.2 

193.0 

 

 

 

 

 

 

 


Table A1.8: Public Financial Corporations Sector Income Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Sales of Goods and Services

134.1 

136.4 

142.9 

150.1 

157.7 

Interest Income

284.5 

289.7 

306.5 

269.9 

292.3 

Dividend, Tax and Rate Equivalent Income

37.5 

39.1 

40.9 

42.9 

45.4 

Other Revenue

2.9 

3.9 

2.0 

2.0 

2.0 

 

459.0 

469.1 

492.3 

464.9 

497.4 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

5.3 

5.3 

5.4 

5.6 

5.7 

Superannuation

0.8 

0.8 

0.9 

0.9 

0.9 

Depreciation

0.3 

0.3 

0.3 

0.3 

0.3 

Supplies and Consumables

186.2 

176.9 

181.8 

190.5 

199.8 

Borrowing Costs

251.2 

258.1 

276.1 

239.4 

259.1 

Dividend and Income Tax Equivalent Expenses

164.3 

50.2 

47.0 

46.8 

35.9 

Grant Expenses

5.5 

4.8 

4.9 

5.1 

5.3 

Other Expenses

0.3 

0.3 

0.3 

0.3 

0.3 

 

613.9 

496.7 

516.7 

488.9 

507.2 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(154.9)

(27.6)

(24.4)

(24.0)

(9.8)

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Gain/(Loss) on Sale of Non‑Financial Assets

(0.2)

(0.1)

(0.1)

(0.1)

(0.1)

Other Gains/(Losses)

185.7

50.4

51.3

53.3

54.6

 

185.5

50.3

51.2

53.2

54.5

 

 

 

 

 

 

Equals Operating Result

30.6

22.6

26.8

29.2

44.7

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

Other Flows

(92.0)

(32.2)

(32.2)

(31.9)

(34.3)

 

(92.0)

(32.2)

(32.2)

(31.9)

(34.3)

 

 

 

 

 

 

Equals Comprehensive Result

(61.4)

(9.6)

(5.3)

(2.6)

10.4 

 

 

 

 

 

 

 


Table A1.8: Public Financial Corporations Sector Income Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(154.9)

(27.6)

(24.4)

(24.0)

(9.8)

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

0.4 

1.3 

0.5 

0.5 

0.5 

Less Sale of Non‑Financial Assets

.... 

0.1 

0.1 

0.1 

0.1 

Less Depreciation

0.3 

0.3 

0.3 

0.3 

0.3 

 

0.1 

1.0 

0.2 

0.2 

0.1 

 

 

 

 

 

 

Equals FISCAL BALANCE

(155.0)

(28.7)

(24.6)

(24.2)

(9.9)

 

 

 

 

 

 

 


Table A1.9: Public Financial Corporations Sector Balance Sheet as at 30 June

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

285.9 

298.0 

312.2 

327.0 

346.1 

Investments

7 334.0 

7 210.4 

7 424.5 

6 823.1 

7 229.2 

Receivables

25.9 

26.9 

25.9 

24.9 

23.9 

Other Financial Assets

165.0 

156.5 

153.8 

156.0 

154.7 

 

7 810.9 

7 691.8 

7 916.3 

7 331.0 

7 753.8 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Plant and Equipment

0.9 

1.1 

1.2 

1.4 

1.6 

Investment Property

14.6 

14.6 

14.6 

14.6 

14.6 

Intangibles

0.3 

0.2 

0.1 

0.1 

0.1 

 

15.7 

15.8 

16.0 

16.1 

16.3 

 

 

 

 

 

 

Total Assets

7 826.6 

7 707.7 

7 932.3 

7 347.1 

7 770.1 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

6 224.1 

6 048.6 

6 202.0 

5 537.2 

5 861.3 

Superannuation

5.3 

5.6 

6.0 

6.4 

6.7 

Employee Entitlements

1.1 

1.1 

1.1 

1.1 

1.1 

Payables

2.2 

2.3 

2.3 

2.3 

2.3 

Other Liabilities

1 121.3 

1 187.1 

1 263.3 

1 345.2 

1 433.3 

Total Liabilities

7 354.1 

7 244.7 

7 474.7 

6 892.2 

7 304.8 

 

 

 

 

 

 

NET ASSETS

472.5 

463.0 

457.6 

455.0 

465.4 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

462.5 

453.0 

447.6 

445.0 

455.4 

Other Equity

10.0 

10.0 

10.0 

10.0 

10.0 

Total Equity

472.5 

463.0 

457.6 

455.0 

465.4 

 

 

 

 

 

 

 


Table A1.9: Public Financial Corporations Sector Balance Sheet as at 30 June (continued)

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

472.5 

463.0 

457.6 

455.0 

465.4 

NET FINANCIAL WORTH2

456.8 

447.1 

441.6 

438.8 

449.1 

NET FINANCIAL LIABILITIES3

(456.8)

(447.1)

(441.6)

(438.8)

(449.1)

NET DEBT4

(1 395.9)

(1 459.9)

(1 534.7)

(1 612.9)

(1 714.0)

 

 

 

 

 

 

Notes:

1. Net Worth represents Total Assets (both Financial and Non‑Financial) less Total Liabilities.

2. Net Financial Worth represents Total Financial Assets less Total Liabilities.

3. Net Financial Liabilities represents Total Liabilities less Financial Assets. For the PFC Sector this is equivalent to negative Net Financial Worth.

4. Net Debt represents Borrowings less the sum of Cash and Deposits and Investments.

 


Table A1.10: Public Financial Corporations Sector Cash Flow Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

Cash Flows from Operating Activities

 

 

 

 

 

Cash Received from Operating Activities

 

 

 

 

 

Sales of Goods and Services

150.4 

155.1 

162.9 

171.0 

179.4 

Interest Received

284.5 

289.7 

306.5 

269.9 

292.3 

Dividend, Tax and Rate Equivalent Income

37.5 

39.1 

40.9 

42.9 

45.4 

Other Receipts

0.6 

0.7 

0.7 

0.7 

0.7 

 

473.1 

484.6 

511.0 

484.5 

517.8 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(5.6)

(5.5)

(5.7)

(5.8)

(5.9)

Superannuation

(0.5)

(0.5)

(0.5)

(0.5)

(0.5)

Supplies and Consumables

(115.3)

(120.7)

(124.9)

(129.5)

(135.5)

Borrowing Costs

(251.2)

(258.1)

(276.1)

(239.4)

(259.1)

Grants and Subsidies Paid

(4.0)

(6.1)

(5.4)

(5.6)

(5.8)

Other Payments

(5.7)

(6.6)

(7.2)

(7.6)

(8.0)

 

(382.3)

(397.5)

(419.6)

(388.4)

(414.7)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

90.8 

87.1 

91.4 

96.1 

103.1 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(0.4)

(1.3)

(0.5)

(0.5)

(0.5)

Sales of Non‑Financial Assets

.... 

0.1 

0.1 

0.1 

0.1 

 

(0.4)

(1.3)

(0.5)

(0.5)

(0.4)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

974.7 

154.6 

(180.4)

637.5 

(369.8)

 

974.7 

154.6 

(180.4)

637.5 

(369.8)

 

 

 

 

 

 

Net Cash Flows from Investing Activities

974.3 

153.3 

(180.8)

637.1 

(370.3)

 

 

 

 

 

 

 


 

Table A1.10: Public Financial Corporations Sector Cash Flow Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowing

(852.9)

(175.6)

153.4 

(664.8)

324.1 

Dividends and Tax Equivalents Paid

(216.0)

(52.8)

(49.8)

(53.6)

(37.8)

Net Cash Flows from Financing Activities

(1 068.9)

(228.3)

103.6 

(718.4)

286.2 

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(3.8)

12.1 

14.1 

14.8 

19.1 

 

 

 

 

 

 

Cash at Beginning of the Year

289.8 

285.9 

298.0 

312.2 

327.0 

Cash at End of the Year

285.9 

298.0 

312.2 

327.0 

346.1 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

90.8 

87.1 

91.4 

96.1 

103.1 

Plus Net Cash Flows from Non‑Financial Assets

(0.4)

(1.3)

(0.5)

(0.5)

(0.4)

Plus Dividends and Tax Equivalents Paid

(216.0)

(52.8)

(49.8)

(53.6)

(37.8)

Equals CASH SURPLUS/(DEFICIT)

(125.6)

33.0 

41.1 

42.0 

64.9 

 

 

 

 

 

 

 


Table A1.11: Total State Sector Income Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

3 094.3 

3 453.3 

3 530.4 

3 558.4 

3 736.7 

Taxation

953.1 

982.3 

998.8 

1 018.9 

1 039.5 

Sales of Goods and Services

3 340.2 

3 105.7 

3 263.5 

3 356.4 

3 493.7 

Fines and Regulatory Fees

92.9 

96.1 

97.8 

91.7 

86.6 

Interest Income

134.3 

138.0 

155.6 

128.1 

152.0 

Dividend, Tax and Rate Equivalent Income

37.5 

39.1 

40.9 

42.9 

45.5 

Other Revenue

219.2 

207.3 

202.5 

203.2 

208.3 

 

7 871.4 

8 021.8 

8 289.5 

8 399.5 

8 762.4 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

2 555.2 

2 607.9 

2 611.4 

2 666.7 

2 721.3 

Superannuation

324.0 

294.8 

296.4 

298.0 

299.8 

Depreciation

606.2 

605.0 

597.1 

622.8 

637.0 

Supplies and Consumables

3 064.9 

2 889.2 

2 981.0 

3 095.3 

3 205.6 

Nominal Superannuation Interest Expense

296.2 

315.6 

323.3 

330.4 

336.6 

Borrowing Costs

248.4 

257.9 

276.8 

237.3 

255.4 

Grant Expenses

1 024.4 

1 067.1 

979.1 

1 029.2 

1 081.8 

Other Expenses

89.6 

71.3 

64.2 

58.3 

50.7 

 

8 208.9 

8 108.7 

8 129.3 

8 337.9 

8 588.1 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(337.5)

(86.9)

160.3 

61.6 

174.2 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Gain/(Loss) on Sale of Non‑Financial Assets

15.8 

11.0 

10.6 

10.7 

10.7 

Movement in Superannuation Liability

1 364.2 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(180.9)

(23.7)

(74.7)

17.0

36.9

 

1 199.1 

(12.7)

(64.1)

27.6

47.5

 

 

 

 

 

 

Equals Operating Result

861.6 

(99.5)

96.2

89.2

221.8

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

Revaluations of Non‑Financial Assets

(35.2)

268.5 

317.7 

354.5 

358.5 

Other Flows

331.2 

102.7 

38.4 

(14.9)

(22.4)

 

296.0 

371.1 

356.1 

339.6 

336.1 

 

 

 

 

 

 

Equals Comprehensive Result

1 157.6 

271.6 

452.3 

428.8 

557.9 

 


Table A1.11: Total State Sector Income Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(337.5)

(86.9)

160.3 

61.6 

174.2 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

681.9 

922.8 

985.5 

846.6 

788.1 

Less Sale of Non‑Financial Assets

41.9 

34.5 

29.6 

30.3 

29.8 

Less Depreciation

606.2 

605.0 

597.1 

622.8 

637.0 

 

33.8 

283.3 

358.8 

193.5 

121.4 

 

 

 

 

 

 

Equals FISCAL BALANCE

(371.3)

(370.1)

(198.6)

(131.9)

52.9 

 

 

 

 

 

 

 


Table A1.12: Total State Sector Balance Sheet as at 30 June

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

285.9 

298.0 

312.2 

327.0 

346.1 

Investments

4 247.4 

4 130.0 

4 512.4 

3 962.6 

4 587.9 

Other Equity Investments

99.0 

99.7 

98.5 

97.7 

97.2 

Receivables

873.9 

865.4 

855.8 

842.5 

835.1 

Other Financial Assets

948.0 

939.3 

934.9 

924.5 

910.8 

 

6 454.2 

6 332.4 

6 713.8 

6 154.2 

6 777.0 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

6 015.1 

6 185.3 

6 496.7 

6 718.0 

6 839.0 

Infrastructure

11 783.5 

12 087.0 

12 387.0 

12 677.8 

13 034.7 

Plant and Equipment

555.7 

579.9 

584.2 

594.7 

600.9 

Heritage and Cultural Assets

478.5 

490.6 

502.8 

515.0 

527.2 

Biological Assets

89.9 

108.8 

108.8 

108.8 

108.8 

Investment Property

33.8 

34.2 

34.5 

34.7 

35.0 

Intangibles

95.2 

97.8 

101.6 

103.5 

104.2 

Assets Held for Sale

7.9 

7.0 

6.0 

5.1 

4.1 

Other Non‑Financial Assets

155.8 

278.1 

267.9 

224.0 

224.2 

 

19 215.5 

19 868.7 

20 489.5 

20 981.5 

21 478.1 

 

 

 

 

 

 

Total Assets

25 669.7 

26 201.1 

27 203.2 

27 135.7 

28 255.1 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

5 062.8 

5 167.8 

5 512.0 

4 814.6 

5 164.5 

Superannuation

5 895.9 

6 042.1 

6 176.6 

6 297.7 

6 401.5 

Employee Entitlements

689.1 

661.6 

679.8 

699.4 

727.6 

Payables

565.7 

543.5 

543.7 

542.4 

540.0 

Other Liabilities

2 968.5 

3 026.9 

3 079.6 

3 141.2 

3 223.3 

Total Liabilities

15 182.0 

15 441.9 

15 991.7 

15 495.3 

16 056.9 

 

 

 

 

 

 

NET ASSETS

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

 

 

 

 

 

 

 


Table A1.12: Total State Sector Balance Sheet as at 30 June (continued)

 

2015 

2016 

2017 

2018 

2019 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

5 133.2 

5 136.3 

5 271.0 

5 345.3 

5 544.7 

Asset Revaluation Reserve

5 344.4 

5 612.8 

5 930.6 

6 285.0 

6 643.5 

Other Equity

10.0 

10.0 

10.0 

10.0 

10.0 

Total Equity

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

10 487.6 

10 759.2 

11 211.5 

11 640.3 

12 198.2 

NET FINANCIAL WORTH2

(8 727.8)

(9 109.5)

(9 277.9)

(9 341.2)

(9 279.9)

NET FINANCIAL LIABILITIES3

8 727.8 

9 109.5 

9 277.9 

9 341.2 

9 279.9 

NET DEBT4

529.5 

739.7 

687.4 

525.1 

230.5 

 

 

 

 

 

 

Notes:

1. Net Worth represents Total Assets (both Financial and Non‑Financial) less Total Liabilities.

2. Net Financial Worth represents Total Financial Assets less Total Liabilities.

3. Net Financial Liabilities represents Total Liabilities less Financial Assets. For the Total State Sector this is equivalent to negative Net Financial Worth.

4. Net Debt represents Borrowings less the sum of Cash and Deposits and Investments.

 


Table A1.13: Total State Sector Cash Flow Statement

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Operating Activities

 

 

 

 

 

Cash Receipts from Operating Activities

 

 

 

 

 

Grants Received

3 095.2 

3 455.6 

3 533.8 

3 561.6 

3 739.8 

Taxation

953.2 

982.3 

999.1 

1 019.3 

1 039.5 

Sales of Goods and Services

3 344.3 

3 096.8 

3 250.0 

3 351.4 

3 481.8 

Fines and Regulatory Fees

92.9 

96.1 

97.8 

91.7 

86.6 

Interest Received

134.2 

137.9 

155.5 

128.1 

152.0 

Dividend, Tax and Rate Equivalents

37.5 

39.1 

40.9 

42.9 

45.4 

Other Receipts

459.6 

453.5 

455.5 

450.1 

454.9 

 

8 117.0 

8 261.4 

8 532.6 

8 645.0 

9 000.1 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(2 570.3)

(2 651.9)

(2 617.5)

(2 675.7)

(2 722.2)

Superannuation

(510.2)

(502.9)

(512.4)

(532.4)

(552.0)

Supplies and Consumables

(2 992.0)

(2 809.5)

(2 884.9)

(2 954.1)

(3 108.7)

Borrowing Costs

(212.5)

(237.2)

(251.4)

(211.8)

(229.9)

Grants and Subsidies Paid

(1 025.1)

(1 068.4)

(979.4)

(1 029.6)

(1 082.2)

Other Payments

(336.7)

(346.0)

(319.7)

(307.0)

(296.0)

 

(7 646.8)

(7 615.8)

(7 565.3)

(7 710.6)

(7 990.9)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

470.2 

645.6 

967.4 

934.5 

1 009.2 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(681.5)

(919.2)

(979.5)

(839.6)

(781.1)

Sales of Non‑Financial Assets

46.1 

34.5 

29.6 

30.3 

29.8 

 

(635.4)

(884.6)

(950.0)

(809.3)

(751.3)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

(6.8)

(2.3)

(0.4)

(0.4)

(0.4)

Net Advances Paid

(13.8)

(2.0)

(2.0)

(2.0)

(2.2)

 

(20.6)

(4.3)

(2.4)

(2.4)

(2.6)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

845.4 

150.5 

(345.0)

589.3 

(586.0)

 

845.4 

150.5 

(345.0)

589.3 

(586.0)

 

 

 

 

 

 

Net Cash Flows from Investing Activities

189.5 

(738.4)

(1 297.4)

(222.4)

(1 339.9)


Table A1.13: Total State Sector Cash Flow Statement (continued)

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowings

(886.4)

104.9 

344.2 

(697.3)

349.8 

Net Cash Flows from Financing Activities

(886.4)

104.9 

344.2 

(697.3)

349.8 

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(226.7)

12.1 

14.1 

14.8 

19.1 

 

 

 

 

 

 

Cash at Beginning of the Year

512.7 

285.9 

298.0 

312.2 

327.0 

Cash at End of the Year

285.9 

298.0 

312.2 

327.0 

346.1 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

470.2 

645.6 

967.4 

934.5 

1 009.2 

Plus Net Cash Flows from Non‑Financial Assets

(635.4)

(884.6)

(950.0)

(809.3)

(751.3)

Equals CASH SURPLUS/(DEFICIT)

(165.2)

(239.1)

17.4 

125.2 

257.9 

 

 

 

 

 

 

 


Table A1.14: General Government Expenses from Transactions by Purpose

 

2014-15 

2015-16 

2016-17 

2017-18 

2018-19 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

General Public Services

216.1 

211.2 

194.9 

208.0 

216.2 

Public Order and Safety

470.1 

476.9 

484.9 

498.0 

507.8 

Education

1 421.5 

1 442.1 

1 486.1 

1 512.3 

1 536.7 

Health

1 496.2 

1 555.5 

1 486.6 

1 505.3 

1 517.8 

Social Security and Welfare

416.0 

433.0 

456.5 

500.7 

547.9 

Housing and Community Amenities

210.3 

170.2 

165.0 

169.6 

173.5 

Recreation and Culture

201.9 

182.3 

177.6 

180.9 

172.0 

Fuel and Energy

2.3 

2.2 

3.7 

1.9 

1.9 

Agriculture, Forestry, Fishing and Hunting

95.9 

91.4 

79.3 

77.3 

71.9 

Mining and Mineral Resources

6.6 

6.2 

6.1 

6.2 

6.4 

Transport and Communications

257.9 

280.5 

276.0 

252.9 

257.0 

Other Economic Affairs

115.7 

144.2 

105.1 

98.3 

92.7 

Nominal Interest on Superannuation

268.2 

285.7 

292.7 

299.1 

304.7 

Other Purposes

88.2 

85.0 

84.6 

87.8 

88.7 

 

 

 

 

 

 

 

5 266.8 

5 366.3 

5 299.0 

5 398.3 

5 495.2 

 

 

 

 

 

 

 

Table A1.14 presents General Government Expenses from Transactions classified by purpose. This is presented in accordance with the Government Purpose Classification, which is based on the ABS classifications used as part of the Government Finance Statistics reporting framework. The GPC provides a standard framework to allocate Government expenditure according to functions. Disclosure of this information can assist users in identifying the resources committed to particular functions and the costs of service delivery that are attributable to those functions.