The Department of Treasury and Finance is responsible to the Treasurer, Hon Peter Gutwein MP.
Treasury undertakes various functions associated with State economic and financial management, including:
· monitoring economic developments and forecasting economic trends in the Tasmanian economy;
· preparing and monitoring the State Budget, managing the Public Account and providing advice on financial management in the public sector;
· monitoring and providing advice on the performance of government businesses;
· managing the Government's office accommodation portfolio, managing insurable risks of agencies, managing property sales and whole‑of‑government procurement;
· providing policy advice on regulatory and financial issues, intergovernmental financial relations and State tax issues and State taxation collection on behalf of the Commissioner of State Revenue; and
· supporting the Tasmanian Economic Regulator, the Tasmanian Gaming Commission, and the Commissioner for Licensing and the Licensing Board to carry out their regulatory and integrity functions.
This chapter provides the Department's financial information for 2015‑16 and over the Forward Estimates period (2016‑17 to 2018‑19). Further information on the Department is provided at www.treasury.tas.gov.au.
Table 11.1 provides a summary of the Budget and Forward Estimate allocations for key deliverables.
Table 11.1: Key Deliverables Statement
|
|
2015‑16
Budget |
2016‑17 Forward Estimate |
2017‑18 Forward Estimate |
2018‑19 Forward Estimate |
|
|
$'000 |
$'000 |
$'000 |
$'000 |
|
|
|
|
|
|
|
Budget Information Management System |
2 771 |
2 885 |
1 535 |
.... |
|
Revenue Collection ‑ Compliance Activities |
145 |
151 |
158 |
164 |
|
State Revenue System Replacement ‑ Payroll Tax and Duties |
745 |
718 |
.... |
.... |
|
|
|
|
|
|
The Budget Information Management System (BIMS) is a critical whole‑of‑Government business tool that will be used by all Government agencies to support the State Budget function. The annual Budget papers, revised estimate reports and financial advice to the Treasurer will all be dependent on the information provided by this system.
The existing system, the Budget Management System (BMS), has aged and poses a risk to the State Budget function and has limitations in regard to its capabilities, including for example, longer range fiscal modelling. Treasury is replacing BMS with a modern, flexible, supported and more efficient system that will:
· remove the risk of disruption to the State Budget function;
· be more responsive and provide a broader information base to support Government decisions; and
· introduce greater flexibility and adaptability to meet future requirements.
The BIMS Project was initially established in 2011 to investigate options for the replacement of the existing system. Phases one and two of the project have been completed and include documentation of existing processes, the establishment of high‑level functional requirements, a review of other jurisdictions' budget management systems and a market assessment of potential solutions through a Request for Information process. Phase three, which will be completed by 30 June 2015, involves the development of detailed system requirements to enable the project to proceed to a Request for Tender for the implementation of a commercial off the shelf solution.
The next phase of the BIMS Project, scheduled for completion in 2018, will involve activities to select a solution, implement and provide post implementation support.
The first stage of this Government commitment is the implementation of centralised management and coordination of major office accommodation leases for Government within the Hobart CBD. This strategic approach to major leases will lead to more efficient and effective management of the Government's leased office accommodation.
Treasury has commenced a review of major Hobart CBD office leases that are subject to renewal in the remainder of 2015 and is working with agencies to ensure lease negotiations optimise whole‑of‑government outcomes.
In the 2014-15 State Budget, the Government committed to reducing the operating cost of running the passenger and light commercial Government motor vehicle fleet. In order to achieve fleet savings agencies have indicated that a range of utilisation and optimisation measures are being implemented to reduce fleet operating costs. These savings measures include:
· reducing vehicles;
· improved utilisation of existing vehicles; and
· selecting smaller vehicles.
Savings targets are on track since the Government's commitments were made in 2014. Treasury will continue to regularly monitor and report, on a whole-of-government basis, agency progress towards achieving fleet operating cost savings targets. Further information is contained in chapter 3 of this Budget Paper.
Treasury has commenced the preparation of amendments to the Charter of Budget Responsibility Act 2007 to implement the changes detailed in the 2014‑15 Budget. It is proposed that amendments will be tabled in Parliament in late 2015.
These amendments will also require a report on the long‑run sustainability of the Government's finances to be released by the Treasurer every five years. The first report will be released in 2015‑16.
Treasury has developed a draft Financial Management Bill to replace the Public Account Act 1986 and the Financial Management and Audit Act 1990.
The new Financial Management Bill has been drafted to improve the efficiency, effectiveness and transparency of government financial management.
The Financial Management Bill is expected to be tabled in late 2015. Subject to the Bill being passed, Treasury will be working with stakeholder groups, providing targeted communications and training prior to the planned transition to the new legislation on 1 July 2017.
Treasury commenced a strategic review of the Retirement Benefits Fund (RBF) in 2013 to identify the most appropriate means to provide superannuation to public sector employees and members of RBF into the future. Treasury engaged PricewaterhouseCoopers Securities Ltd to provide advice on the Review.
In July 2014, following receipt of the Stage Two Report, the Treasurer asked RBF, Tasplan and Quadrant to work together to develop options for the delivery of the accumulation and the defined benefit schemes they believe should be considered by Government.
The Government is presently considering these options in consultation with the three funds to identify its preferred reform model and to best protect the interests of RBF members and minimise financial risks to the Government and maximise the economic outcomes for Tasmania.
In 2014, the Government established a review to examine the current Forestry Tasmania operating model, its commercial arrangements and constraints and how these are affecting Forestry Tasmania's financial performance. The review also identified options for the short‑term to limit the losses and consider the current and future role of Government in public production native forests.
The Government's objectives for the review were to:
· examine the most appropriate options to deliver economically viable and sustainable forest management and wood production outcomes for the State;
· consider the Forestry Tasmania operating model, commercial arrangements and constraints and the impact on its financial performance; and
· identify options for the short‑term to limit the losses and consider the current and future role of Government in public production forests.
The Treasurer and the Minister for Resources appointed a Steering Committee to conduct the review. The Steering Committee was chaired by the Secretary of Treasury and included representatives from the Departments of Premier and Cabinet and State Growth and the Chair of Forestry Tasmania. Deloitte Touche Tohmatsu was appointed to assist with the review.
Deloitte and the Steering Committee provided reports to the Government in April 2015.
Following consideration of the reports, the Government agreed in principle that Forestry Tasmania would transition to a composite operating model that focuses Forestry Tasmania on managing public native forest and optimises the scope for private sector participation in bringing the public sector forest resources to market. It also agreed in principle that the transition and operating deficits would be funded in the short‑term by the sale of Forestry Tasmania's hardwood plantations and further cost reductions in Forestry Tasmania.
The Government will consult with industry regarding implementation of this decision and then finalise its preferred approach. The Board of Forestry Tasmania will be responsible for managing the transition.
The focus for 2015‑16 will be on industry
consultation, selection of a preferred composite operating model, undertaking
an expression of interest process for residue solutions, the plantation sale
due diligence and implementation.
Treasury is currently undertaking a review of the Liquor Licensing Act 1990 with the aim of providing Government with options to:
· provide for a more transparent licence and permit process and more flexible and effective enforcement processes;
· strengthen existing consumer responsibilities;
· align the regulation of liquor with the key strategies of the Tasmanian Alcohol Action Framework; and
· clarify Government regulatory responsibilities and increase the regulators' ability to undertake these responsibilities effectively.
It is anticipated that legislation giving effect to agreed recommendations coming out of the review will be introduced in September 2015.
The redevelopment of parliament square will revitalise the cultural, business and heritage aspects of Hobart's cityscape, providing a strong link from the city centre to the waterfront. Following an extensive three stage tender process to divest the site, Citta Property Group Pty Ltd was identified as the preferred tenderer.
A sales contract with Citta was negotiated that included conditions to ensure the Government's long‑term interest in the site is protected. Following completion of the sale and transfer of the land in December 2014, construction of the new office tower and restoration works associated with the heritage buildings in Davey Street has commenced.
Further information on the project is provided at www.treasury.tas.gov.au/parliamentsquare.
This initiative involves the appointment of two additional revenue compliance inspectors to enable the Compliance Section of the State Revenue Office to accelerate the audit of compliance targets, thereby protecting and improving the State's revenue base, and ensuring that the correct amount of taxation revenue is being collected from taxpayers. Activity will primarily be focussed in the areas of land and payroll tax, adopting a risk management framework. It is expected that this additional investment in compliance activities will be more than offset by additional tax revenues arising from taxpayers more fully complying with their tax obligations.
The State Revenue Office is currently replacing the State's ageing revenue collection system with a modern application, Client View, to increase efficiency, improve taxpayer experience and data quality, and remove legacy technology risks.
Client View is a taxation collection and revenue system that presents a consistent view of client details, net debtor situation and service delivery communication events across all revenue lines. The Client View Project consists of three phases.
The first phase for the management of land tax was completed in early 2015. Completion of this phase enabled the State Revenue Office to successfully complete the 2014‑15 land tax issue of over 60 000 notices in the new Client View System
Phase two of the project is underway and will extend into 2015‑16. This phase involves development of the modules for the management of payroll tax and insurance and motor vehicle duties.
The final phase, relating to duty on property transfers, will be undertaken in 2016‑17, allowing the retirement of the ageing Tasmanian Revenue and Collection System.
The Australian Government has committed to producing White Papers on the Reform of the Federation and the Reform of Australia's Taxation System for release in the lead up to the next Australian Government election.
The Federation White Paper will consider reform to Commonwealth‑State roles and responsibilities, vertical fiscal imbalance and horizontal fiscal equalisation. It aims to clarify roles and responsibilities between all levels of Government to ensure that, as far as possible, each level of Government is sovereign in its own sphere.
Issue papers have been released for the five areas of the Federation White Paper:
· A Federation for Our Future;
· Health;
· Education;
· Housing and Homelessness; and
· Federal Financial Relations.
The Federation Green Paper is expected to be publicly released in the second half of 2015.
A Discussion Paper on Taxation was released in March 2015. The Discussion Paper was focussed on how an efficient and fair tax system should be structured. Work has also commenced on potential reform options to be covered in the Taxation Green Paper, which is expected to be released in the second half of 2015.
Australia's substantial vertical fiscal imbalance and long‑term fiscal pressures for all levels of government mean that the Federation White Paper will be closely linked to reforms considered in the Taxation White Paper and will necessitate close interaction between the two processes. Treasury will continue to work closely with the Department of Premier and Cabinet and other agencies to respond to these two processes.
Outputs of the Department of Treasury and Finance are provided under the following Output Groups:
· Output Group 1 - Financial and Resource Management Services;
· Output Group 2 - Economic and Fiscal Policy Advice;
· Output Group 3 - Revenue and Regulatory Management Services; and
· Output Group 4 - Community Assistance.
Table 11.2 provides an Output Group Expense Summary for the Department.
Table 11.2: Output Group Expense Summary
|
|
Budget) |
Budget) |
Forward) Estimate) |
Forward) Estimate) |
Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Treasurer |
|
|
|
|
|
|
|
|
|
|
|
|
|
Output Group 1 - Financial and Resource Management Services |
|
|
|
|
|
|
1.1 Budget Development and Management |
2 547) |
2 444) |
2 538) |
2 615) |
2 760) |
|
1.2 Financial Management and Accounting Services |
3 410) |
3 309) |
3 396) |
3 482) |
3 668) |
|
1.3 Shareholder Advice on Government Businesses |
2 573) |
2 346) |
2 406) |
2 537) |
2 663) |
|
1.4 Government Property and Accommodation Services |
986) |
991) |
1 015) |
1 040) |
1 085) |
|
1.5 Government Procurement Services1 |
2 046) |
2 474) |
2 454) |
2 512) |
2 566) |
|
|
11 562) |
11 564) |
11 809) |
12 186) |
12 742) |
|
Output Group 2 - Economic and Fiscal Policy Advice |
|
|
|
|
|
|
2.1 Economic Policy Advice |
1 221) |
1 210) |
1 249) |
1 285) |
1 354) |
|
2.2 Regulatory Policy |
2 595) |
2 521) |
2 598) |
2 669) |
2 815) |
|
2.3 Intergovernmental Financial Matters |
1 182) |
1 128) |
1 161) |
1 194) |
1 260) |
|
|
4 998) |
4 859) |
5 008) |
5 148) |
5 429) |
|
Output Group 3 - Revenue and Regulatory Management Services |
|
|
|
|
|
|
3.1 Tax Administration and Revenue Collection2 |
8 358) |
8 731) |
8 964) |
9 203) |
9 691) |
|
3.2 Regulation and Administration of Liquor and Gaming |
6 352) |
6 263) |
6 430) |
6 585) |
6 927) |
|
3.3 Economic Regulation3 |
2 026) |
1 823) |
1 830) |
2 064) |
1 902) |
|
|
16 736) |
16 817) |
17 224) |
17 852) |
18 520) |
|
Output Group 4 - Community Assistance |
|
|
|
|
|
|
4.1 Bass Strait Islands Community Service Obligation |
9 000) |
9 400) |
9 800) |
10 200) |
10 600) |
|
4.2 Public Trustee Community Service Obligation |
1 556) |
1 642) |
1 728) |
1 764) |
1 800) |
|
4.3 Community Support Levy |
4 600) |
4 564) |
4 570) |
4 580) |
4 589) |
|
|
15 156) |
15 606) |
16 098) |
16 544) |
16 989) |
|
|
|
|
|
|
|
|
48 452) |
48 846) |
50 139) |
51 730) |
53 680) |
|
|
|
|
|
|
|
|
Notes:
1. The increase in Government Procurement Services (Output 1.5) in 2015‑16 reflects revised arrangements for the annual Microsoft agreement whereby Treasury pays the full cost and recovers the annual cost from the agencies involved.
2. The increase in Tax Administration and Revenue Collection (Output 3.1) in 2015-16 reflects additional funding for revenue collection compliance activities.
3. The fluctuations in expenditure on Economic Regulation (Output 3.3) reflect the work program of the Tasmanian Economic Regulator.
This Output includes management of the State Budget process, the provision of advice on budgetary issues and monitoring of the State's financial performance against the Government's Fiscal Strategy.
This Output includes whole‑of‑government financial management activities and the provision of advice on financial management and reform, consistent with the Government's strategies and priorities. It supports a range of services relating to the management of financial assets and liabilities, associated risk mitigation strategies and the preparation of whole‑of‑government financial and statistical reports.
This Output includes monitoring and provision of advice on government businesses. It supports the provision of advice on reforms and policies relating to the Government's ownership of businesses. Submissions and presentations to the credit rating agencies are included in this Output.
This Output covers the administration of Government property and accommodation services, including the management of government‑owned and leased office buildings and the disposal of surplus Crown property.
This Output includes the provision of advice in relation to Government procurement activities and the administration of whole‑of‑government contracts and the Tasmanian Risk Management Fund.
Table 11.3: Performance Information ‑ Output Group 1
|
Performance Measure |
Unit of Measure |
2012‑13 Actual |
2013‑14 Actual |
2014‑15 Target |
2015‑16 Target |
|
|
|
|
|
|
|
|
Stakeholder satisfaction rating (expressed as a percentage)1 |
% |
na |
79 |
>90 |
>90 |
|
Proportion of financial reports receiving an unqualified audit opinion2 |
% |
100 |
100 |
100 |
100 |
|
Treasury‑managed property vacancy rate3 |
% |
5 |
3 |
<1.5 |
<1.5 |
|
State Service workers' compensation contributions as a percentage of the average premium charged by private insurers4 |
% |
80 |
86 |
<80 |
<80 |
|
Proportion of financial reports published by the required date5 |
% |
100 |
100 |
100 |
100 |
|
Variance between Budget estimate and actual GBE/SOC returns6 |
% |
11.9 |
6.1 |
<5.0 |
<5.0 |
|
|
|
|
|
|
|
Notes:
1. The satisfaction rating of the quality of the Department’s services is obtained from the results of the Department's stakeholder survey. The survey has been undertaken every second year and was last conducted in November 2014 for 2013‑14. The Department is moving to conduct annual surveys, with the next stakeholder survey scheduled for November 2015.
2. An unqualified audit opinion from the Auditor‑General indicates that the financial reports are a true and accurate reflection of the Government's finances.
3. The vacancy rate is the proportion of all owned and leased office space managed by the Department that is currently vacant and available for occupation.
4. The Tasmanian Risk Management Fund includes a self insurance scheme for the workers' compensation liabilities of participating agencies. An indication of the Government's management of workers' compensation claims can be obtained by comparing the workers' compensation contributions paid by agencies to the Fund with the workers' compensation premiums charged by private insurers. The measure is calculated by comparing average agency workers' compensation contributions, as a proportion of salaries, with the premium rate of private insurers. The change in the Fund's performance for 2013‑14 from 2012‑13 is mainly due to the private insurers' contribution rate increasing.
5. The whole‑of‑government financial reports published in 2013‑14 were the Preliminary Outcomes Report 2012‑13, Treasurer's Annual Financial Report 2012‑13, September Quarterly Report 2013‑14, December Quarterly Report 2013‑14 and the March Quarterly Report 2013‑14.
6. The positive variance to the Budget estimates in both 2012‑13 and 2013‑14 relates to variations in the performance of the businesses largely due to external influences impacting on profitability as well as uncertainty relating to the impacts of the energy reform process.
This Output relates to the provision of advice on international, national and Tasmanian economic conditions and developments, and forecasting economic trends in the Tasmania economy. It also includes the provision of advice on economic policy and reform issues, including Council of Australian Governments and other national policy initiatives.
This Output includes the provision of advice relating to the regulation and taxation of gaming activities and licensing of liquor sales, state revenue policy and the legislative review program.
This Output relates to provision of advice on all intergovernmental financial matters, including support to the State Grants Commission.
Table 11.4: Performance Information ‑ Output Group 2
|
Performance Measure1 |
Unit of Measure |
2012‑13 Actual |
2013‑14 Actual |
2014‑15 Target |
2015‑16 Target |
|
|
|
|
|
|
|
|
Stakeholder satisfaction rating (expressed as a percentage)2 |
% |
na |
89 |
>90 |
>90 |
|
Variance between Budget estimate and actual taxation receipts3 |
% |
2.2 |
1.9 |
<5.0 |
<5.0 |
|
Variance between Budget estimate and actual Australian Government payments4 |
% |
0.1 |
2.4 |
<5.0 |
<5.0 |
|
Variance between Budget forecast and ABS estimate of gross state product growth5 |
% |
1.5 |
0.8 |
<1.0 |
<1.0 |
|
Variance between Budget forecast and ABS estimate of employment growth5 |
% |
0.7 |
|
<1.0 |
<1.0 |
|
|
|
|
|
|
|
Notes:
1. Following a review of performance measures some measures have been modified for the 2015-16 Budget.
2. The satisfaction rating of the quality of the Department’s services is obtained from the results of the Department's stakeholder survey. The survey has been undertaken every second year and was last conducted in November 2014 for 2013‑14. The Department is moving to conduct annual surveys, with the next stakeholder survey scheduled for November 2015.
3. The accuracy of the Department's taxation receipt forecasts is determined by comparing the Budget with the actual end of year outcome.
4. The accuracy of the Department's Australian Government payments estimates for 2013‑14 is determined by comparing the 2013‑14 State Budget estimate for the financial year with payment advices received from the Australian Government during 2013‑14.
5. The accuracy of the Department's GSP and employment growth forecasts are determined by comparing the Budget with the most recent estimates of growth for the financial year published by the Australian Bureau of Statistics.
This Output comprises the administration of taxation legislation and the collection of State revenue, including monitoring the compliance of taxpayers with State revenue legislation. It also includes the administration of various grants, subsidies and concessions to the Tasmanian community.
This Output provides for the regulation and control of casino gaming, gaming machines, internet gaming, Keno, minor gaming, betting exchanges and totalizators and support to the Tasmanian Gaming Commission in the discharge of its statutory functions under the Gaming Control Act 1993. It also includes the regulation and administration of liquor licensing and the provision of support to the Commissioner for Licensing and the Licensing Board of Tasmania in their statutory functions under the Liquor Licensing Act.
This Output comprises provision of support to the Tasmanian Economic Regulator in the exercise of its statutory functions, which include the regulation of the electricity and gas supply industries, the economic regulation of the water and sewerage sector and the undertaking of independent pricing reviews on behalf of the Government.
Table 11.5: Performance Information ‑ Output Group 3
|
Performance Measure |
Unit of Measure |
2012‑13 Actual |
2013‑14 Actual |
2014‑15 Target |
2015‑16 Target |
|
|
|
|
|
|
|
|
Stakeholder satisfaction rating (expressed as a percentage)1 |
% |
na |
84 |
>90 |
>90 |
|
Total overdue taxation debt as a percentage of total taxation revenue2 |
% |
1.6 |
1.7 |
<0.8 |
<0.8 |
|
Percentage of formal recommendations accepted by the Tasmanian Gaming Commission3 |
% |
98 |
98 |
>80 |
>80 |
|
Percentage of objections in which the Commissioner of State Revenue's assessment or decision was confirmed4 |
% |
95 |
75 |
>80 |
>80 |
|
Revenue Branch operating expenses as a percentage of taxation revenue5 |
% |
1.0 |
0.7 |
<1.5 |
<1.5 |
|
Percentage of liquor applications submitted to a hearing before the Licensing Board within 40 days of receipt6 |
% |
95 |
100 |
>80 |
>80 |
|
|
|
|
|
|
|
Notes:
1. The satisfaction rating of the quality of the Department’s services is obtained from the results of the Department's stakeholder survey. The survey has been undertaken every second year and was last conducted in November 2014 for 2013‑14. The Department is moving to conduct annual surveys, with the next stakeholder survey scheduled for November 2015.
2. In providing revenue management services to the Commissioner of State Revenue, the Department seeks to ensure that taxpayers are well informed of their obligations and that tax debt stress and overdue taxation debts are minimised. Accordingly, the target is for overdue taxation debt to be a very small percentage of total taxation revenue.
3. While recognising that the Tasmanian Gaming Commission (TGC) is an independent statutory body, a measure of the quality of the services provided is the proportion of all formal recommendations contained in decision papers that are accepted by the TGC.
4. Objections may be lodged against assessments issued to clients or decisions of the Commissioner, Deputy Commissioner or a delegate of the Commissioner. The Department seeks to ensure that the original assessments and decisions are accurate and that the number of successful objections to these are minimised. Accordingly, the target is for over 80 per cent of objections to result in the original assessment being confirmed as accurate. The result for 2013‑14 was influenced by a number of complex cases and also matters where further information was provided by the taxpayer that supported their objection.
5. An indication of the efficiency of the revenue management services provided by the Department can be gained by comparing total taxation revenue collected with the operating costs required to administer and collect that revenue.
6. The Department assists the Licensing Board by receiving applications for licences, undertaking investigations on behalf of the Commissioner for Licensing and providing recommendations to the Board on whether the applicant is qualified in accordance with the requirements of the Liquor Licensing Act. The measure relates to the time taken by the Department to undertake its investigations and prepare submissions for the monthly Board meetings.
This Output comprises the payment of the Bass Strait Islands Community Service Obligation to Hydro Tasmania relating to the subsidised supply of electricity and pensioner concessions to electricity customers on King and Flinders Island.
This Output comprises the payment of the Community Service Obligation to the Public Trustee relating to the provision of trustee service to clients with low asset values.
This Output comprises the collection and disbursement of funds through the Department's Revenue, Gaming and Licensing Division for the Community Support Levy.
Table 11.6 provides financial information for the Department's Capital Investment Program. Further information on the Capital Investment Program is provided in chapter 6 of The Budget Budget Paper No 1.
Table 11.6: Capital Investment Program
|
|
Estimated) Total) Cost) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Treasurer |
|
|
|
|
|
|
Budget Information Management System Project1 |
7 517) |
2 771) |
2 885) |
1 535) |
....) |
|
State Revenue System Replacement - Payroll Tax and Duties1 |
2 115) |
745) |
718) |
....) |
....) |
|
|
|
|
|
|
|
|
Total CIP Allocations |
) |
3 516) |
3 603) |
1 535) |
....) |
|
|
|
|
|
|
|
Note:
1. The 2015‑16 Budget includes a Section 8A(2) Carry Forward of estimated unspent Capital Investment Program funding from 2014‑15 of $236 000 for the Budget Information Management System Project and $40 000 for the State Revenue System Replacement - Payroll Tax and Duties Project.
Table 11.7: Statement of Comprehensive Income
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Revenue and other income from transactions |
|
|
|
|
|
|
Appropriation revenue - recurrent |
37 535) |
38 888) |
39 309) |
40 397) |
41 409) |
|
Appropriation revenue - works & services1 |
1 254) |
3 240) |
3 603) |
1 535) |
....) |
|
Other revenue from government |
400) |
276) |
....) |
....) |
....) |
|
Fees and fines |
8 702) |
8 523) |
8 241) |
8 777) |
8 636) |
|
Other revenue2 |
752) |
1 133) |
1 133) |
1 149) |
1 166) |
|
Total revenue and other income from transactions |
48 643) |
52 060) |
52 286) |
51 858) |
51 211) |
|
|
|
|
|
|
|
|
Expenses from transactions |
|
|
|
|
|
|
Employee benefits |
26 716) |
26 352) |
27 346) |
28 167) |
29 092) |
|
Depreciation and amortisation3 |
269) |
221) |
183) |
390) |
1 148) |
|
Supplies and consumables4 |
6 169) |
6 831) |
6 670) |
6 783) |
6 601) |
|
Grants and subsidies |
15 158) |
15 304) |
15 800) |
16 246) |
16 691) |
|
Other expenses |
140) |
138) |
140) |
144) |
148) |
|
Total expenses from transactions |
48 452) |
48 846) |
50 139) |
51 730) |
53 680) |
|
|
|
|
|
|
|
|
Net result from transactions (net operating balance) |
191) |
3 214) |
2 147) |
128) |
(2 469) |
|
|
|
|
|
|
|
|
Net result |
191) |
3 214) |
2 147) |
128) |
(2 469) |
|
|
|
|
|
|
|
|
191) |
3 214) |
2 147) |
128) |
(2 469) |
|
|
|
|
|
|
|
|
Notes:
1. The increase in Appropriation revenue ‑ works & services from 2015‑16 reflects Capital Investment Program funding.
2. The increase in Other revenue in 2015‑16 reflects revised arrangements for the annual Microsoft agreement whereby Treasury pays the full cost and recovers the annual cost from the agencies involved.
3. The increase in Depreciation and amortisation from 2017‑18 reflects amortisation following completion of the State Revenue System Replacement (Payroll Tax and Duties) Project in 2016‑17 and the Budget Information Management System Project in 2017‑18.
4. The increase in Supplies and Consumables in 2015-16 reflects revised arrangements for the annual Microsoft agreement whereby Treasury pays the full cost and recovers the annual cost from the agencies involved and due to costs associated with the Community Support Levy funded Social and Economic Impact Study of Gambling in Tasmania.
Table 11.8: Statement of Comprehensive Income ‑ Administered
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Revenue and other income from transactions |
|
|
|
|
|
|
Fees and fines |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
Total revenue and other income from transactions |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
|
|
|
|
|
|
|
Expenses from transactions |
|
|
|
|
|
|
Transfers to the Consolidated Fund |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
Total expenses from transactions |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
|
|
|
|
|
|
|
Net result from transactions (net operating balance) |
....) |
....) |
....) |
....) |
....) |
|
|
|
|
|
|
|
|
Net result |
....) |
....) |
....) |
....) |
....) |
|
|
|
|
|
|
|
|
....) |
....) |
....) |
....) |
....) |
|
|
|
|
|
|
|
|
Table 11.9: Revenue from Appropriation by Output
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Treasurer |
|
|
|
|
|
|
|
|
|
|
|
|
|
Output Group 1 - Financial and Resource Management Services |
|
|
|
|
|
|
1.1 Budget Development and Management |
2 397) |
2 447) |
2 464) |
2 522) |
2 577) |
|
1.2 Financial Management and Accounting Services |
3 218) |
3 220) |
3 204) |
3 267) |
3 328) |
|
1.3 Shareholder Advice on Government Businesses |
2 338) |
2 214) |
2 203) |
2 318) |
2 360) |
|
1.4 Government Property and Accommodation Services |
695) |
720) |
717) |
732) |
747) |
|
|
8 648) |
8 601) |
8 588) |
8 839) |
9 012) |
|
Output Group 2 - Economic and Fiscal Policy Advice |
|
|
|
|
|
|
2.1 Economic Policy Advice |
1 149) |
1 205) |
1 205) |
1 233) |
1 257) |
|
2.2 Regulatory Policy |
2 454) |
2 512) |
2 507) |
2 561) |
2 612) |
|
2.3 Intergovernmental Financial Matters |
1 121) |
1 124) |
1 122) |
1 147) |
1 171) |
|
|
4 724) |
4 841) |
4 834) |
4 941) |
5 040) |
|
Output Group 3 - Revenue and Regulatory Management Services |
|
|
|
|
|
|
3.1 Tax Administration and Revenue Collection |
7 895) |
8 613) |
8 584) |
8 764) |
8 946) |
|
3.2 Regulation and Administration of Liquor and Gaming |
5 684) |
5 764) |
5 747) |
5 859) |
5 980) |
|
|
13 579) |
14 377) |
14 331) |
14 623) |
14 926) |
|
Output Group 4 - Community Assistance |
|
|
|
|
|
|
4.1 Bass Strait Islands Community Service Obligation |
9 000) |
9 400) |
9 800) |
10 200) |
10 600) |
|
4.2 Public Trustee Community Service Obligation |
1 556) |
1 642) |
1 728) |
1 764) |
1 800) |
|
|
10 556) |
11 042) |
11 528) |
11 964) |
12 400) |
|
|
|
|
|
|
|
|
Capital Investment Program1 |
1 254) |
3 240) |
3 603) |
1 535) |
....) |
|
|
|
|
|
|
|
|
Department of Treasury and Finance |
|
|
|
|
|
|
Total Recurrent Services |
37 507) |
38 861) |
39 281) |
40 367) |
41 378) |
|
Total Works and Services1 |
1 254) |
3 240) |
3 603) |
1 535) |
....) |
|
|
38 761) |
42 101) |
42 884) |
41 902) |
41 378) |
Table 11.9: Revenue from Appropriation by Output (Continued)
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
Reserved by Law |
|
|
|
|
|
|
Contribution to the Community Support Levy Account from Betting Exchange Revenues (Gaming Control Act 1993, Section 151) |
28) |
27) |
28) |
30) |
31) |
|
|
28) |
27) |
28) |
30) |
31) |
|
|
|
|
|
|
|
|
Appropriation Carried Forward |
400) |
276) |
....) |
....) |
....) |
|
|
|
|
|
|
|
|
Total Revenue from Appropriation |
39 189) |
42 404) |
42 912) |
41 932) |
41 409) |
|
|
|
|
|
|
|
|
Controlled Revenue from Appropriation |
39 189) |
42 404) |
42 912) |
41 932) |
41 409) |
|
|
39 189) |
42 404) |
42 912) |
41 932) |
41 409) |
|
|
|
|
|
|
|
Note:
1. The increase in Capital Investment Program and Total Works and Services from 2014‑15 reflects Capital Investment Program funding for the Budget Information Management System Project and the State Revenue System Replacement (Payroll Tax and Duties) Project.
Table 11.10: Statement of Financial Position as at 30 June
|
|
2015)
Budget) |
2016)
Budget) |
2017) Forward) Estimate) |
2018) Forward) Estimate) |
2019) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
Cash and deposits |
3 642) |
3 694) |
3 096) |
2 614) |
1 827) |
|
Receivables |
377) |
338) |
341) |
344) |
347) |
|
Other financial assets |
357) |
389) |
396) |
403) |
410) |
|
|
4 376) |
4 421) |
3 833) |
3 361) |
2 584) |
|
Non-financial assets |
|
|
|
|
|
|
Property, plant and equipment |
819) |
977) |
876) |
779) |
682) |
|
Heritage and cultural assets |
84) |
84) |
84) |
84) |
84) |
|
Intangibles1 |
2 056) |
5 828) |
9 348) |
10 589) |
9 538) |
|
Other assets |
471) |
477) |
483) |
489) |
495) |
|
|
3 430) |
7 366) |
10 791) |
11 941) |
10 799) |
|
|
|
|
|
|
|
|
Total assets |
7 806) |
11 787) |
14 624) |
15 302) |
13 383) |
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Payables |
723) |
742) |
824) |
906) |
988) |
|
Employee benefits |
7 978) |
7 333) |
7 936) |
8 399) |
8 862) |
|
Other liabilities |
220) |
193) |
198) |
203) |
208) |
|
Total liabilities |
8 921) |
8 268) |
8 958) |
9 508) |
10 058) |
|
|
|
|
|
|
|
|
Net assets (liabilities) |
(1 115) |
3 519) |
5 666) |
5 794) |
3 325) |
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Accumulated funds |
(1 115) |
3 519) |
5 666) |
5 794) |
3 325) |
|
Total equity |
(1 115) |
3 519) |
5 666) |
5 794) |
3 325) |
|
|
|
|
|
|
|
Note:
1. The increase in Intangibles reflects the work‑in‑progress on the Budget Information Management System Project and the State Revenue System Replacement (Payroll Tax and Duties) Project.
Table 11.11: Statement of Cash Flows
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash inflows |
|
|
|
|
|
|
Appropriation receipts - recurrent |
37 535) |
38 888) |
39 309) |
40 397) |
41 409) |
|
Appropriation receipts - capital1 |
1 254) |
3 240) |
3 603) |
1 535) |
....) |
|
Fees and fines |
8 701) |
8 522) |
8 240) |
8 776) |
8 635) |
|
GST receipts |
1 600) |
1 600) |
1 600) |
1 600) |
1 600) |
|
Other cash receipts |
752) |
1 133) |
1 133) |
1 149) |
1 166) |
|
Total cash inflows |
49 842) |
53 383) |
53 885) |
53 457) |
52 810) |
|
|
|
|
|
|
|
|
Cash outflows |
|
|
|
|
|
|
Employee benefits |
(23 213) |
(23 739) |
(23 669) |
(24 515) |
(25 206) |
|
Superannuation |
(3 065) |
(3 039) |
(3 027) |
(3 142) |
(3 377) |
|
GST payments |
(1 600) |
(1 600) |
(1 600) |
(1 600) |
(1 600) |
|
Grants and subsidies |
(15 158) |
(15 304) |
(15 800) |
(16 246) |
(16 691) |
|
Supplies and consumables2 |
(6 164) |
(6 826) |
(6 665) |
(6 778) |
(6 596) |
|
Other cash payments |
(124) |
(121) |
(119) |
(123) |
(127) |
|
Total cash outflows |
(49 324) |
(50 629) |
(50 880) |
(52 404) |
(53 597) |
|
|
|
|
|
|
|
|
Net cash from (used by) operating activities |
518) |
2 754) |
3 005) |
1 053) |
(787) |
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Payments for acquisition of non-financial assets1 |
(1 329) |
(3 516) |
(3 603) |
(1 535) |
....) |
|
Net cash from (used by) investing activities |
(1 329) |
(3 516) |
(3 603) |
(1 535) |
....) |
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents held |
(811) |
(762) |
(598) |
(482) |
(787) |
|
|
|
|
|
|
|
|
Cash and deposits at the beginning of the reporting period |
4 453) |
4 456) |
3 694) |
3 096) |
2 614) |
|
Cash and deposits at the end of the reporting period |
3 642) |
3 694) |
3 096) |
2 614) |
1 827) |
|
|
|
|
|
|
|
Notes:
1. The increases in Appropriation receipts ‑ capital and in Payments for acquisition of non‑financial assets reflect funding for the Budget Information Management System Project and the State Revenue System Replacement (Payroll Tax and Duties) Project.
2. The increase in Supplies and Consumables in 2015-16 reflects revised arrangements for the annual Microsoft agreement whereby Treasury pays the full cost and recovers the annual cost from the agencies involved and due to costs associated with the Community Support Levy funded Social and Economic Impact Study of Gambling in Tasmania.
Table 11.12: Statement of Cash Flows - Administered
|
|
2014-15)
Budget) |
2015-16)
Budget) |
2016-17) Forward) Estimate) |
2017-18) Forward) Estimate) |
2018-19) Forward) Estimate) |
|
|
$'000) |
$'000) |
$'000) |
$'000) |
$'000) |
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash inflows |
|
|
|
|
|
|
Fees and fines |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
Total cash inflows |
1 227) |
1 349) |
1 376) |
1 403) |
1 430) |
|
|
|
|
|
|
|
|
Cash outflows |
|
|
|
|
|
|
Transfers to the Consolidated Fund |
(1 227) |
(1 349) |
(1 376) |
(1 403) |
(1 430) |
|
Total cash outflows |
(1 227) |
(1 349) |
(1 376) |
(1 403) |
(1 430) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents held |
....) |
....) |
....) |
....) |
....) |
|
|
|
|
|
|
|
|
Cash and deposits at the beginning of the reporting period |
....) |
....) |
....) |
....) |
....) |
|
Cash and deposits at the end of the reporting period |
....) |
....) |
....) |
....) |
....) |
|
|
|
|
|
|
|