Appendix 1       Uniform Government Reporting

Key Issues

·       The estimated Net Operating Balance for 2017-18 is a surplus of $54.3 million for the General Government Sector (GGS), a deficit of $55.5 million for the PNFC Sector, a deficit of $1.2 million for the TNFP Sector, a deficit of $56.6 million for the PFC Sector and a deficit of $57.9 million for the Total State Sector.

·       The estimated Fiscal Balance for 2017-18 is a deficit of $253.9 million for the GGS, a deficit of $222.8 million for the PNFC Sector, a deficit of $476.7 million for the TNFP Sector, a deficit of $56.9 million for the PFC Sector and a deficit of $533.6 million for the Total State Sector.

·       As at 30 June 2018, GGS Net Debt is forecast to be negative $451.8 million, PNFC Sector Net Debt is forecast to be $2 559.8 million, TNFP Sector Net Debt is forecast to be $2 108 million, PFC Sector Net Debt is forecast to be negative $2 072.2 million and Total State Sector Net Debt is forecast to be $35.8 million.

·       Further information about the GGS Budget and Forward Estimates is included in chapter 4 of this Budget Paper. Details of the GGS 2016-17 Estimated Outcome are included in appendix 3 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:

·       General Government Sector (GGS);

·       Public Non‑Financial Corporations (PNFC) Sector;

·       Total Non‑Financial Public (TNFP) Sector;

·       Public Financial Corporations (PFC) Sector; and

·       Total State Sector.

The statements present the 2016-17 Estimated Outcome, 2017-18 Budget Estimates and Forward Estimates for the period 2018-19 to 2020‑21. 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 2016‑17 will be released in the Treasurer's Annual Financial Report 2016‑17. The Report will be publicly released by no later than 31 October 2017.

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.


Table A1.1 compares Tasmania's 2017-18 LCA approved by the Loan Council in March 2017, with the revised LCA based on 2017-18 Budget estimates.

Table A1.1:     Loan Council Allocation 2017-18  

 

2017-18 

2017-18 

 

)

Budget 

 

Nomination 

Estimate 

 

$m 

$m 

 

 

 

General Government Cash Deficit/(Surplus)

7.9 

149.8 

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

158.5 

215.1 

Non‑Financial Public Sector Cash Deficit/(Surplus)

166.4 

364.9 

 

 

 

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

(4.1)

(4.5)

Plus Memorandum Items1

63.1 

119.7 

 

 

 

Loan Council Allocation Deficit/(Surplus)

233.6 

489.1 

 

 

 

2017-18 Tolerance Limit2

174.8 

176.8 

 

 

 

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 Limit recognises that LCAs are nominated at early stages of the Budget process and that estimates are likely to change as a result.

 

The 2017-18 Budget estimate is a deficit of $489.1 million, an increase of $255.5 million, which is outside the Tolerance Limit of $174.8 million estimated for Tasmania in March 2017. 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 change of $255.5 million in the LCA between the 2017‑18 LCA Nomination and 2017‑18 Budget estimate is mainly due to:

·       an increase in the General Government Cash Deficit of $141.9 million;

·       an increase in the Public Non-Financial Corporations Cash Deficit/(Surplus) of $56.6 million, which is primarily due to:

-        an increase in Purchases of Non‑Financial Assets of $47 million primarily relating to:

§  Tasmanian Irrigation Pty Ltd of $16.9 million, due to a change in the construction schedule for various irrigation schemes;

§  Aurora Energy Pty Ltd of $11.4 million, due to additional investment in plant and equipment;

§  Hydro Tasmania of $10 million, due to a change in forecast capital expenditure;

§  Tasracing Pty Ltd of $9.9 million, due to a revision of the timing of capital works with the commencement of a major track upgrade bought forward from 2020 to 2018; and

·       an increase in Memorandum items of $56.6 million, which is primarily due to additional new cash borrowings for the Local Government Sector. This is partly due to the State Government’s Accelerated Local Government Capital Program, which enables councils to apply for Government interest free loans and bring forward planned infrastructure projects by up to five years.

Consistent with the LCA arrangements, Tasmania advises Loan Council of these circumstances through this appendix. The LCA Outcome for 2016‑17 will be presented in the Treasurer's Annual Financial Report 2016‑17.


Government Financial Estimates

Tables A1.2 to A1.16 provide details of the Income Statements, Balance Sheets and Cash Flow Statements for the GGS, PNFC Sector, TNFP Sector, PFC Sector and Total State Sector respectively.

Table A1.2:     General Government Income Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

 4 371.9 

 3 682.9 

 3 673.5 

 3 735.4 

 3 748.3 

Taxation

 1 094.1 

 1 128.5 

 1 147.4 

 1 173.0 

 1 198.9 

Sales of Goods and Services

  411.2 

  408.0 

  417.0 

  424.8 

  428.7 

Fines and Regulatory Fees

  95.9 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Income

  22.1 

  19.6 

  17.6 

  16.0 

  17.2 

Dividend, Tax and Rate Equivalent Income

  316.0 

  358.4 

  338.2 

  370.1 

  390.4 

Other Revenue

  188.4 

  177.7 

  170.1 

  165.2 

  163.5 

 6 499.6 

 5 874.0 

 5 863.0 

 5 984.8 

 6 048.7 

 

 

 

 

 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

 2 371.5 

 2 400.4 

 2 430.4 

 2 461.6 

 2 533.0 

Superannuation

  339.9 

  273.5 

  269.7 

  270.0 

  271.0 

Depreciation

  267.1 

  268.6 

  263.7 

  322.8 

  337.6 

Supplies and Consumables

 1 187.9 

 1 227.8 

 1 186.1 

 1 187.2 

 1 206.8 

Nominal Superannuation Interest Expense

  236.3 

  285.6 

  289.7 

  293.3 

  296.2 

Borrowing Costs

  10.4 

  9.8 

  9.5 

  9.0 

  8.2 

Grant Expenses

 1 243.0 

 1 314.3 

 1 333.4 

 1 362.4 

 1 322.8 

Other Expenses

  31.6 

  39.7 

  29.8 

  27.3 

  27.8 

 5 687.6 

 5 819.8 

 5 812.3 

 5 933.6 

 6 003.4 

 

 

 

 

 

Equals NET OPERATING BALANCE

  812.0 

  54.3 

  50.7 

  51.3 

  45.3 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

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

  11.3 

  15.3 

  12.2 

  12.7 

  12.8 

Movement in Investment in PNFC and PFC Sectors

  392.2 

(104.2)

  11.2 

  37.4 

  50.2 

Movements in Superannuation Liability

 2 914.6 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(24.7)

  9.8 

(11.4)

(7.0)

(8.2)

 3 293.5 

(79.0)

  12.1 

  43.0 

  54.8 

 

 

 

 

 

Equals Operating Result

 4 105.5 

(24.8)

  62.8 

  94.3 

  100.0 

 


Table A1.2:       General Government Income Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

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

  224.9 

  250.8 

  268.4 

  288.5 

  294.9 

Other Non‑Owner Movements in Equity

  8.6 

  3.8 

  3.8 

  3.8 

  3.8 

  233.5 

  254.6 

  272.2 

  292.3 

  298.7 

 

 

 

 

 

Equals Comprehensive Result

 4 339.0 

  229.8 

  335.0 

  386.6 

  398.7 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

  812.0 

  54.3 

  50.7 

  51.3 

  45.3 

 

 

 

 

 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

  495.3 

  609.9 

  574.0 

  402.1 

  342.7 

Less Sale of Non‑Financial Assets

  29.4 

  33.2 

  30.4 

  30.8 

  30.9 

Less Depreciation

  267.1 

  268.6 

  263.7 

  322.8 

  337.6 

 

  198.9 

  308.2 

  279.9 

  48.5 

(25.8)

 

 

 

 

 

Equals FISCAL BALANCE

613.1 

(253.9)

(229.2)

2.8 

71.1 

 

 


Table A1.3:     General Government Balance Sheet as at 30 June

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

Revised 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

 1 179.6 

 1 117.2 

 1 056.7 

 1 075.5 

 1 092.3 

Investments

  44.3 

  46.4 

  48.6 

  50.8 

  53.0 

Equity Investment in PNFC and PFC Sectors

 5 703.4 

 5 654.0 

 5 715.6 

 5 757.5 

 5 807.6 

Other Equity Investments

  23.1 

  27.2 

  31.3 

  35.4 

  38.1 

Receivables

  319.5 

  315.4 

  312.2 

  307.0 

  303.0 

Other Financial Assets

  807.1 

  815.4 

  868.0 

  904.5 

  918.7 

 

 8 077.0 

 7 975.7 

 8 032.4 

 8 130.7 

 8 212.7 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

 5 984.6 

 6 265.3 

 6 535.8 

 6 644.9 

 6 705.4 

Infrastructure

 4 521.4 

 4 816.5 

 5 108.1 

 5 343.5 

 5 553.0 

Plant and Equipment

  240.5 

  229.0 

  218.3 

  213.9 

  217.6 

Heritage and Cultural Assets

  471.9 

  484.0 

  496.1 

  508.3 

  520.5 

Investment Property

  3.2 

  3.5 

  3.8 

  4.0 

  4.4 

Intangibles

  45.5 

  47.7 

  45.8 

  42.0 

  37.8 

Assets Held for Sale

  5.7 

  4.8 

  4.1 

  3.9 

  2.9 

Other Non‑Financial Assets

  38.3 

  37.4 

  37.5 

  37.5 

  33.9 

 

 11 311.0 

 11 888.1 

 12 449.5 

 12 798.0 

 13 075.5 

 

 

 

 

 

 

Total Assets

 19 388.0 

 19 863.8 

 20 481.9 

 20 928.8 

 21 288.2 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

  564.1 

  711.8 

  905.2 

  913.4 

  805.7 

Superannuation

 6 176.4 

 6 266.3 

 6 345.7 

 6 412.6 

 6 465.3 

Employee Entitlements

  612.7 

  618.8 

  627.8 

  610.5 

  623.6 

Payables

  132.8 

  133.7 

  133.3 

  135.2 

  137.1 

Other Liabilities

  408.3 

  409.7 

  411.3 

  412.0 

  412.7 

Total Liabilities

 7 894.3 

 8 140.3 

 8 423.4 

 8 483.7 

 8 444.4 

 

 

 

 

 

 

NET ASSETS

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

 6 782.4 

 6 761.4 

 6 828.0 

 6 926.0 

 7 029.9 

Asset Revaluation Reserve

 4 711.3 

 4 962.1 

 5 230.5 

 5 519.0 

 5 813.9 

Total Equity

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 


Table A1.3:     General Government Balance Sheet as at 30 June (continued)

2017 

2018 

2019 

2020 

2021 

Estimated 

Revised 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

NET FINANCIAL WORTH2

  182.6 

(164.6)

(391.0)

(353.0)

(231.7)

NET FINANCIAL LIABILITIES3

 5 520.8 

 5 818.6 

 6 106.6 

 6 110.5 

 6 039.4 

NET DEBT4

(659.8)

(451.8)

(200.0)

(212.9)

(339.6)

 

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 PNFC and PFC Sectors.

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

 

 


Table A1.4:     General Government Cash Flow Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

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

 4 371.9 

 3 682.9 

 3 673.5 

 3 735.4 

 3 748.3 

Taxation

 1 084.5 

 1 127.3 

 1 144.5 

 1 171.3 

 1 196.4 

Sales of Goods and Services

  404.1 

  408.0 

  415.3 

  423.1 

  427.2 

Fines and Regulatory Fees

  95.8 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Received

  22.1 

  19.6 

  17.5 

  16.1 

  17.2 

Dividend, Tax and Rate Equivalents

  301.2 

  372.4 

  288.6 

  338.7 

  380.7 

Other Receipts

  361.8 

  365.3 

  360.9 

  338.7 

  332.5 

 

 6 641.3 

 6 074.3 

 5 999.5 

 6 123.6 

 6 203.9 

 

 

 

 

 

 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(2 350.1)

(2 393.0)

(2 420.2)

(2 474.9)

(2 518.1)

Superannuation

(448.9)

(468.1)

(478.7)

(498.0)

(513.9)

Supplies and Consumables

(1 217.4)

(1 239.9)

(1 200.0)

(1 199.1)

(1 215.5)

Borrowing Costs

(10.5)

(9.8)

(9.5)

(9.1)

(8.3)

Grants and Subsidies Paid

(1 242.9)

(1 314.2)

(1 333.3)

(1 362.3)

(1 322.8)

Other Payments

(215.5)

(229.1)

(221.4)

(199.7)

(196.9)

 

(5 485.2)

(5 654.1)

(5 663.2)

(5 743.1)

(5 775.4)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 156.1 

  420.3 

  336.3 

  380.5 

  428.6 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(476.3)

(603.1)

(564.8)

(390.5)

(330.8)

Sales of Non‑Financial Assets

  29.4 

  33.0 

  30.4 

  30.8 

  30.9 

 

(447.0)

(570.1)

(534.4)

(359.8)

(299.9)

Net Cash Flows from Financial Assets
(Policy Purposes)

 

 

 

 

 

Equity Injections

(795.9)

(58.8)

(54.4)

(8.6)

(2.7)

Net Advances Paid

.... 

(2.1)

(2.2)

(2.2)

(2.2)

Equity/Disposals

  0.7 

  0.7 

  0.7 

  0.7 

  0.7 

 

(795.2)

(60.3)

(55.9)

(10.0)

(4.2)

 

 

 

 

 

 

Net Cash Flows from Investing Activities

(1 242.1)

(630.3)

(590.3)

(369.8)

(304.1)

 

 

 

 

 

 

 

 

 

 

 

 


 

Table A1.4:       General Government Cash Flow Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Net Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowing

(61.4)

  147.8 

  193.4 

  8.2 

(107.8)

 

(61.4)

  147.8 

  193.4 

  8.2 

(107.8)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(147.4)

(62.3)

(60.6)

  18.9 

  16.8 

 

 

 

 

 

 

Cash at Beginning of the Year

 1 326.9 

 1 179.6 

 1 117.2 

 1 056.7 

 1 075.5 

Cash at End of the Year

 1 179.6 

 1 117.2 

 1 056.7 

 1 075.5 

 1 092.3 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 156.1 

  420.3 

  336.3 

  380.5 

  428.6 

Plus Net Cash Flows from Non‑Financial Assets

(447.0)

(570.1)

(534.4)

(359.8)

(299.9)

Equals CASH SURPLUS/(DEFICIT)

  709.1 

(149.8)

(198.1)

  20.7 

  128.7 

 

 

 

 

 

 

 


 

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

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

  180.3 

  148.4 

  152.4 

  170.3 

  173.4 

Sales of Goods and Services

 2 904.2 

 2 901.5 

 2 986.2 

 3 143.7 

 3 267.3 

Interest Income

  7.2 

  6.3 

  6.5 

  6.6 

  6.8 

Other Revenue

  33.7 

  33.4 

  41.3 

  35.8 

  36.7 

 3 125.4 

 3 089.6 

 3 186.3 

 3 356.4 

 3 484.1 

 

 

 

 

 

 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

  392.5 

  404.8 

  413.1 

  421.6 

  428.7 

Superannuation

  42.7 

  40.4 

  41.1 

  41.9 

  42.5 

Depreciation

  322.6 

  332.8 

  346.9 

  354.6 

  361.2 

Supplies and Consumables

 1 925.7 

 1 955.3 

 1 982.6 

 2 082.3 

 2 172.8 

Nominal Superannuation Interest Expense

  24.2 

  23.2 

  23.6 

  23.9 

  24.1 

Borrowing Costs

  127.2 

  124.2 

  126.4 

  121.7 

  122.4 

Dividend and Income Tax Equivalent Expenses

  226.0 

  196.7 

  185.0 

  226.2 

  246.5 

Grant Expenses

  39.2 

  40.8 

  41.7 

  42.6 

  43.6 

Other Expenses

  27.4 

  26.8 

  27.3 

  27.1 

  27.4 

 3 127.4 

 3 145.1 

 3 187.6 

 3 342.0 

 3 469.2 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(2.0)

(55.5)

(1.3)

  14.4 

  14.9 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Movement in Superannuation Liability

  228.7 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(29.6)

(68.3)

(19.1)

  8.6 

  16.9 

 

  199.1 

(68.3)

(19.1)

  8.6 

  16.9 

 

 

 

 

 

 

Equals Operating Result

  197.0 

(123.8)

(20.4)

  23.0 

  31.8 

 

 

 


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

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

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

  110.6 

  51.1 

  50.4 

  51.6 

  53.7 

Other Non‑Owner Movements in Equity

  7.1 

  11.1 

  20.3 

(3.6)

(4.0)

 

  117.7 

  62.2 

  70.8 

  48.0 

  49.7 

 

 

 

 

 

 

Equals Comprehensive Result

  314.8 

(61.7)

  50.4 

  71.0 

  81.4 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(2.0)

(55.5)

(1.3)

  14.4 

  14.9 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

  499.5 

  500.7 

  435.4 

  374.7 

  369.2 

Less Sale of Non‑Financial Assets

  1.2 

  0.7 

  0.8 

  0.4 

  0.4 

Less Depreciation

  322.6 

  332.8 

  346.9 

  354.6 

  361.2 

 

  175.7 

  167.2 

  87.8 

  19.7 

  7.6 

 

 

 

 

 

 

Equals FISCAL BALANCE

(177.7)

(222.8)

(89.1)

(5.3)

  7.3 

  

 

 

 

 

 


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

2017 

2018 

2019 

2020 

2021 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

  279.2 

  222.4 

  173.6 

  163.1 

  171.4 

Investments

  84.9 

  1.3 

  0.6 

  0.3 

  0.3 

Other Equity Investments

  74.2 

  73.5 

  73.5 

  74.8 

  76.4 

Receivables

  556.9 

  521.9 

  522.3 

  523.5 

  523.7 

Other Financial Assets

  854.4 

  876.2 

  868.3 

  869.1 

  871.3 

 1 849.5 

 1 695.4 

 1 638.4 

 1 630.8 

 1 643.2 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

  229.1 

  238.3 

  242.9 

  243.8 

  243.9 

Infrastructure

 7 877.6 

 7 981.4 

 8 060.7 

 8 118.3 

 8 164.9 

Plant and Equipment

  339.5 

  361.7 

  379.6 

  379.5 

  380.3 

Biological Assets

  200.6 

  201.1 

  201.5 

  202.0 

  202.4 

Intangibles

  123.3 

  129.0 

  134.8 

  129.6 

  133.8 

Other Non‑Financial Assets

  136.2 

  96.2 

  99.9 

  99.7 

  103.2 

 8 906.2 

 9 007.7 

 9 119.5 

 9 172.9 

 9 228.5 

 

 

 

 

 

Total Assets

 10 755.8 

 10 703.1 

 10 757.9 

 10 803.7 

 10 871.7 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

 2 771.9 

 2 783.6 

 2 728.4 

 2 674.9 

 2 660.9 

Superannuation

  495.2 

  502.3 

  508.5 

  513.7 

  517.8 

Employee Entitlements

  99.8 

  102.9 

  105.0 

  106.7 

  108.6 

Payables

  418.7 

  383.3 

  380.3 

  379.5 

  379.8 

Other Liabilities

 2 583.8 

 2 550.6 

 2 553.6 

 2 570.2 

 2 563.5 

Total Liabilities

 6 369.4 

 6 322.6 

 6 275.8 

 6 245.0 

 6 230.5 

 

 

 

 

 

NET ASSETS

 4 386.3 

 4 380.4 

 4 482.1 

 4 558.7 

 4 641.2 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

  804.2 

  720.8 

  747.4 

  795.6 

  820.4 

Asset Revaluation Reserve

 1 273.8 

 1 324.9 

 1 375.4 

 1 426.9 

 1 480.6 

Other Equity

 2 308.3 

 2 334.6 

 2 359.4 

 2 336.1 

 2 340.2 

Total Equity

 4 386.3 

 4 380.4 

 4 482.1 

 4 558.7 

 4 641.2 


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

2017 

2018 

2019 

2020 

2021 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

NET WORTH1

 4 386.3 

 4 380.4 

 4 482.1 

 4 558.7 

 4 641.2 

NET FINANCIAL WORTH2

(4 519.9)

(4 627.3)

(4 637.4)

(4 614.3)

(4 587.3)

NET FINANCIAL LIABILITIES3

 4 519.9 

 4 627.3 

 4 637.4 

 4 614.3 

 4 587.3 

NET DEBT4

 2 407.8 

 2 559.8 

 2 554.1 

 2 511.5 

 2 489.2 

 

 

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

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

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

  178.1 

  146.2 

  150.2 

  168.1 

  171.1 

Sales of Goods and Services

 2 949.1 

 2 921.8 

 2 951.4 

 3 039.5 

 3 201.0 

Interest Received

  7.3 

  6.3 

  6.4 

  6.6 

  6.8 

Other Receipts

  110.2 

  109.4 

  117.0 

  112.0 

  114.0 

 3 244.7 

 3 183.8 

 3 225.1 

 3 326.2 

 3 492.9 

 

 

 

 

 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(417.3)

(425.3)

(434.0)

(444.1)

(447.5)

Superannuation

(42.5)

(40.1)

(41.0)

(41.7)

(42.3)

Supplies and Consumables

(1 961.7)

(1 943.7)

(1 921.4)

(1 930.3)

(2 066.1)

Borrowing Costs

(121.7)

(131.8)

(132.9)

(129.1)

(129.4)

Grants and Subsidies Paid

(39.2)

(40.8)

(41.7)

(42.6)

(43.6)

Other Payments

(128.4)

(119.6)

(122.3)

(124.0)

(127.4)

(2 710.8)

(2 701.3)

(2 693.3)

(2 711.8)

(2 856.3)

 

 

 

 

 

Net Cash Flows from Operating Activities

  533.9 

  482.4 

  531.8 

  614.3 

  636.6 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(499.5)

(500.7)

(435.4)

(374.7)

(369.2)

Sales of Non‑Financial Assets

  1.2 

  0.7 

  0.8 

  0.4 

  0.4 

 

(498.3)

(500.1)

(434.7)

(374.3)

(368.8)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

  61.9 

  55.7 

  51.4 

  5.5 

  1.1 

  61.9 

  55.7 

  51.4 

  5.5 

  1.1 

 

 

 

 

 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

(17.5)

  90.6 

  7.5 

  6.3 

  6.3 

 

(17.5)

  90.6 

  7.5 

  6.3 

  6.3 

 

 

 

 

 

Net Cash Flows from Investing Activities

(454.0)

(353.7)

(375.8)

(362.5)

(361.5)

 

 

 


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

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

Estimated 

 

Forward 

Forward 

Forward 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowing

  33.3 

  11.9 

(55.0)

(53.2)

(13.8)

Dividends and Tax Equivalents Paid

(202.7)

(197.5)

(149.9)

(209.2)

(253.1)

Net Cash Flows from Financing Activities

(169.4)

(185.5)

(204.8)

(262.4)

(266.9)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(89.5)

(56.8)

(48.8)

(10.5)

8.3 

 

 

 

 

 

 

Cash at Beginning of the Year

  368.7 

  279.2 

  222.4 

  173.6 

  163.1 

Cash at End of the Year

  279.2 

  222.4 

  173.6 

  163.1 

  171.4 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

  533.9 

  482.4 

  531.8 

  614.3 

  636.6 

Plus Net Cash Flows from Non‑Financial Assets

(498.3)

(500.1)

(434.7)

(374.3)

(368.8)

Plus Dividends and Tax Equivalents Paid

(202.7)

(197.5)

(149.9)

(209.2)

(253.1)

Equals CASH SURPLUS/(DEFICIT)

(167.1)

(215.1)

(52.7)

  30.9 

  14.7 

 

 

 

 

 

 

 


Table A1.8:     Total Non‑Financial Public Sector Income Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

 4 371.9 

 3 682.9 

 3 673.5 

 3 735.4 

 3 748.3 

Taxation

 1 050.8 

 1 087.9 

 1 105.0 

 1 131.5 

 1 157.0 

Sales of Goods and Services

 3 285.5 

 3 279.9 

 3 373.5 

 3 538.9 

 3 666.2 

Fines and Regulatory Fees

  95.9 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Income

  29.3 

  25.9 

  24.1 

  22.7 

  23.9 

Dividend, Tax and Rate Equivalent Income

  90.0 

  161.7 

  153.2 

  143.9 

  143.9 

Other Revenue

  222.1 

  211.0 

  211.4 

  200.9 

  200.3 

 

 9 145.5 

 8 548.4 

 8 640.0 

 8 873.6 

 9 041.4 

 

 

 

 

 

 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

 2 764.1 

 2 805.2 

 2 843.5 

 2 883.2 

 2 961.7 

Superannuation

  382.5 

  314.0 

  310.8 

  311.9 

  313.5 

Depreciation

  589.7 

  601.4 

  610.6 

  677.4 

  698.8 

Supplies and Consumables

 3 083.7 

 3 153.6 

 3 139.0 

 3 239.8 

 3 349.9 

Nominal Superannuation Interest Expense

  260.4 

  308.9 

  313.3 

  317.2 

  320.4 

Borrowing Costs

  117.1 

  117.0 

  117.6 

  113.9 

  113.9 

Grant Expenses

 1 101.9 

 1 206.8 

 1 222.7 

 1 234.7 

 1 193.1 

Other Expenses

  36.2 

  42.9 

  33.0 

  29.8 

  30.0 

 

 8 335.6 

 8 549.7 

 8 590.6 

 8 807.9 

 8 981.2 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

  810.0 

(1.2)

  49.4 

  65.7 

  60.2 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

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

  11.3 

  15.3 

  12.2 

  12.7 

  12.8 

Movement in Investments in GBEs and SOCs

  77.4 

(42.5)

(39.1)

(33.6)

(31.3)

Movement in Superannuation Liability

 3 143.3 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

(45.7)

(58.5)

(30.5)

  1.6 

  8.7 

 

 3 186.4 

(85.7)

(57.4)

(19.4)

(9.8)

 

 

 

 

 

 

Equals Operating Result

 3 996.3 

(86.9)

(8.0)

  46.3 

  50.4 

 

 

 

 

 

 

 


Table A1.8:     Total Non‑Financial Public Sector Income Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

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

  335.5 

  301.9 

  318.8 

  340.1 

  348.6 

Other Flows

  7.1 

  14.9 

  24.1 

  0.2 

(0.2)

 

  342.6 

  316.7 

  343.0 

  340.3 

  348.3 

 

 

 

 

 

 

Equals Comprehensive Result

 4 339.0 

  229.8 

  335.0 

  386.6 

  398.7 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

  810.0 

(1.2)

  49.4 

  65.7 

  60.2 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

  994.8 

 1 110.7 

 1 009.4 

  776.8 

  711.9 

Less Sale of Non‑Financial Assets

  30.5 

  33.8 

  31.2 

  31.2 

  31.3 

Less Depreciation

  589.7 

  601.4 

  610.6 

  677.4 

  698.8 

 

  374.6 

  475.4 

  367.7 

  68.2 

(18.2)

 

 

 

 

 

 

Equals FISCAL BALANCE

  435.3 

(476.7)

(318.3)

(2.5)

  78.4 

 

 

 

 

 

 

 


Table A1.9:     Total Non‑Financial Public Sector Balance Sheet as at 30 June

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

 1 458.8 

 1 339.6 

 1 230.3 

 1 238.7 

 1 263.7 

Investments

  128.6 

  47.2 

  48.6 

  50.5 

  52.7 

Equity Investment in PFC Sector

 1 317.1 

 1 273.6 

 1 233.5 

 1 198.8 

 1 166.5 

Other Equity Investments

  97.4 

  100.7 

  104.8 

  110.2 

  114.6 

Receivables

  876.3 

  837.3 

  834.5 

  830.5 

  826.7 

Other Financial Assets

  799.4 

  837.4 

  849.6 

  860.4 

  874.1 

 

 4 677.5 

 4 435.9 

 4 301.3 

 4 289.0 

 4 298.3 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

 6 213.6 

 6 503.6 

 6 778.7 

 6 888.7 

 6 949.3 

Infrastructure

 12 399.0 

 12 797.9 

 13 168.9 

 13 461.7 

 13 717.8 

Plant and Equipment

  580.0 

  590.6 

  598.0 

  593.5 

  597.9 

Heritage and Cultural Assets

  471.9 

  484.0 

  496.1 

  508.3 

  520.5 

Biological Assets

  200.6 

  201.1 

  201.5 

  202.0 

  202.4 

Investment Property

  3.2 

  3.5 

  3.8 

  4.0 

  4.4 

Intangibles

  168.8 

  176.7 

  180.6 

  171.6 

  171.6 

Assets Held for Sale

  5.7 

  4.8 

  4.1 

  3.9 

  2.9 

Other Non‑Financial Assets

  174.4 

  133.6 

  137.3 

  137.3 

  137.1 

 

 20 217.3 

 20 895.8 

 21 569.0 

 21 971.0 

 22 304.0 

 

 

 

 

 

 

Total Assets

 24 894.8 

 25 331.6 

 25 870.3 

 26 260.0 

 26 602.2 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

 3 335.4 

 3 494.8 

 3 633.0 

 3 587.7 

 3 465.9 

Superannuation

 6 671.6 

 6 768.6 

 6 854.2 

 6 926.3 

 6 983.1 

Employee Entitlements

  712.5 

  721.7 

  732.8 

  717.3 

  732.2 

Payables

  551.6 

  517.0 

  513.6 

  514.7 

  516.9 

Other Liabilities

 2 130.0 

 2 106.0 

 2 078.1 

 2 069.0 

 2 060.4 

Total Liabilities

 13 401.1 

 13 608.1 

 13 811.8 

 13 815.0 

 13 758.5 

 

 

 

 

 

 

NET ASSETS

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 


 

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

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

 5 508.5 

 5 436.5 

 5 452.6 

 5 499.1 

 5 549.3 

Asset Revaluation Reserve

 5 985.2 

 6 287.0 

 6 605.8 

 6 945.9 

 7 294.5 

Total Equity

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

NET FINANCIAL WORTH2

(8 723.6)

(9 172.3)

(9 510.5)

(9 525.9)

(9 460.2)

NET FINANCIAL LIABILITIES3

 10 040.7 

 10 445.9 

 10 744.0 

 10 724.7 

 10 626.7 

NET DEBT4

 1 748.0 

 2 108.0 

 2 354.1 

 2 298.6 

 2 149.6 

 

 

 

 

 

 

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 A1.10:   Total Non‑Financial Public Sector Cash Flow Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

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

 4 369.7 

 3 680.8 

 3 671.4 

 3 733.2 

 3 746.1 

Taxation

 1 041.2 

 1 086.7 

 1 102.1 

 1 129.8 

 1 154.5 

Sales of Goods and Services

 3 323.3 

 3 300.2 

 3 337.0 

 3 433.0 

 3 598.5 

Fines and Regulatory Fees

  95.8 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Received

  29.4 

  25.9 

  23.9 

  22.7 

  23.9 

Dividend, Tax and Rate Equivalents

  98.5 

  175.0 

  138.7 

  129.5 

  127.7 

Other Receipts

  472.0 

  474.7 

  478.0 

  450.7 

  446.5 

 

 9 429.8 

 8 842.1 

 8 850.4 

 8 999.1 

 9 198.8 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(2 767.4)

(2 818.3)

(2 854.2)

(2 919.0)

(2 965.6)

Superannuation

(491.3)

(508.2)

(519.8)

(539.7)

(556.2)

Supplies and Consumables

(3 149.1)

(3 154.0)

(3 091.7)

(3 099.7)

(3 251.9)

Borrowing Costs

(111.7)

(124.7)

(124.2)

(121.4)

(120.9)

Grants and Subsidies Paid

(1 101.8)

(1 206.7)

(1 222.7)

(1 234.6)

(1 193.0)

Other Payments

(321.1)

(325.0)

(319.6)

(299.1)

(299.1)

 

(7 942.5)

(8 136.9)

(8 132.2)

(8 213.4)

(8 386.7)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 487.3 

  705.3 

  718.2 

  785.7 

  812.2 

 

 

 

 

 

 

Cash flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(975.8)

(1 103.8)

(1 000.2)

(765.2)

(700.0)

Sales of Non‑Financial Assets

  30.5 

  33.7 

  31.2 

  31.2 

  31.3 

 

(945.3)

(1 070.1)

(969.0)

(734.0)

(668.7)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

(734.0)

(3.1)

(3.1)

(3.0)

(1.7)

Net Advances Paid

.... 

(2.1)

(2.2)

(2.2)

(2.2)

Equity Disposals

  0.7 

  0.7 

  0.7 

  0.7 

  0.7 

 

(733.3)

(4.5)

(4.5)

(4.5)

(3.1)

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

(17.5)

  90.6 

  7.5 

  6.3 

  6.3 

 

(17.5)

  90.6 

  7.5 

  6.3 

  6.3 

 

 

 

 

 

 

Net Cash Flows from Investing Activities

(1 696.1)

(984.1)

(966.0)

(732.3)

(665.6)


Table A1.10:   Total Non‑Financial Public Sector Cash Flow Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowings

(28.1)

  159.7 

  138.4 

(45.0)

(121.6)

Net Cash Flows from Financing Activities

(28.1)

  159.7 

  138.4 

(45.0)

(121.6)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(236.9)

(119.1)

(109.4)

  8.4 

  25.0 

 

 

 

 

 

 

Cash at Beginning of the Year

 1 695.6 

 1 458.8 

 1 339.6 

 1 230.3 

 1 238.7 

Cash at End of the Year

 1 458.8 

 1 339.6 

 1 230.3 

 1 238.7 

 1 263.7 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 487.3 

  705.3 

  718.2 

  785.7 

  812.2 

Plus Net Cash Flows from Non‑Financial Assets

(945.3)

(1 070.1)

(969.0)

(734.0)

(668.7)

Equals CASH SURPLUS/(DEFICIT)

  542.0 

(364.9)

(250.8)

  51.6 

  143.4 

 

 

 

 

 

 

 


Table A1.11:   Public Financial Corporations Sector Income Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Sales of Goods and Services

  137.5 

  134.2 

  137.1 

  143.8 

  151.1 

Interest Income

  224.9 

  242.5 

  233.5 

  234.8 

  229.0 

Dividend, Tax and Rate Equivalent Income

  74.8 

  62.9 

  65.1 

  68.2 

  71.7 

Other Revenue

  5.2 

  4.3 

  4.4 

  4.4 

  4.4 

 

  442.4 

  444.0 

  440.1 

  451.2 

  456.3 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

  5.9 

  6.1 

  6.3 

  6.4 

  6.5 

Superannuation

  1.0 

  1.0 

  1.0 

  1.1 

  1.1 

Depreciation

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

Supplies and Consumables

  149.8 

  156.5 

  164.5 

  171.2 

  178.8 

Borrowing Costs

  183.5 

  169.6 

  162.9 

  170.0 

  165.4 

Dividend and Income Tax Equivalent Expenses

  90.0 

  161.7 

  153.2 

  143.9 

  143.9 

Grant Expenses

  5.0 

  5.1 

  5.3 

  5.4 

  5.6 

Other Expenses

  0.3 

  0.3 

  0.3 

  0.3 

  0.3 

 

  435.6 

  500.6 

  493.7 

  498.4 

  501.9 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

  6.8 

(56.6)

(53.5)

(47.2)

(45.6)

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

Other Gains/(Losses)

  92.5 

  21.8 

  22.6 

  23.5 

  24.5 

 

  92.5 

  21.8 

  22.6 

  23.5 

  24.5 

 

 

 

 

 

 

Equals Operating Result

  99.3 

(34.8)

(31.0)

(23.7)

(21.1)

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

Other Flows

(34.6)

(8.7)

(9.2)

(11.0)

(11.3)

 

(34.6)

(8.7)

(9.2)

(11.0)

(11.3)

 

 

 

 

 

 

Equals Comprehensive Result

  64.8 

(43.5)

(40.1)

(34.7)

(32.3)

 

 

 

 

 

 

 


Table A1.11:   Public Financial Corporations Sector Income Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

  6.8 

(56.6)

(53.5)

(47.2)

(45.6)

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

  0.9 

  0.6 

  0.7 

  0.6 

  0.6 

Less Sale of Non‑Financial Assets

.... 

  0.1 

.... 

.... 

  0.1 

Less Depreciation

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

 

  0.7 

  0.3 

  0.5 

  0.5 

  0.3 

 

 

 

 

 

 

Equals FISCAL BALANCE

  6.1 

(56.9)

(54.0)

(47.7)

(45.9)

 

 

 

 

 

 

 


Table A1.12:   Public Financial Corporations Sector Balance Sheet as at 30 June

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

  8.1 

  8.3 

  8.7 

  9.1 

  9.6 

Investments

 9 175.7 

 8 595.5 

 8 247.0 

 8 302.8 

 8 261.4 

Receivables

  45.8 

  43.7 

  37.2 

  32.9 

  26.7 

Other Financial Assets

  286.9 

  297.5 

  294.6 

  291.7 

  288.8 

 

 9 516.5 

 8 944.9 

 8 587.5 

 8 636.5 

 8 586.5 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Plant and Equipment

  1.0 

  1.3 

  1.7 

  2.3 

  2.6 

Investment Property

  15.2 

  15.2 

  15.2 

  15.2 

  15.2 

Intangibles

  1.0 

  1.0 

  1.0 

  1.1 

  1.0 

 

  17.1 

  17.5 

  17.9 

  18.5 

  18.8 

 

 

 

 

 

 

Total Assets

 9 533.7 

 8 962.4 

 8 605.5 

 8 655.0 

 8 605.3 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

 7 111.2 

 6 531.5 

 6 151.1 

 6 171.0 

 6 086.1 

Superannuation

  7.0 

  7.4 

  7.8 

  8.2 

  8.7 

Employee Entitlements

  1.2 

  1.2 

  1.3 

  1.3 

  1.3 

Payables

  2.9 

  2.9 

  2.9 

  2.9 

  2.9 

Other Liabilities

 1 094.3 

 1 145.7 

 1 208.9 

 1 272.8 

 1 339.8 

Total Liabilities

 8 216.6 

 7 688.8 

 7 372.0 

 7 456.2 

 7 438.8 

 

 

 

 

 

 

NET ASSETS

 1 317.1 

 1 273.6 

 1 233.5 

 1 198.8 

 1 166.5 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

  576.7 

  571.2 

  573.8 

  587.1 

  608.4 

Other Equity

  740.4 

 702.4 

  659.6 

  611.6 

  558.1 

Total Equity

 1 317.1 

 1 273.6 

 1 233.5 

 1 198.8 

 1 166.5 

 

 

 

 

 

 

 


Table A1.12:   Public Financial Corporations Sector Balance Sheet as at 30 June (continued)

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 1 317.1 

 1 273.6 

 1 233.5 

 1 198.8 

 1 166.5 

NET FINANCIAL WORTH2

 1 300.0 

 1 256.1 

 1 215.5 

 1 180.3 

 1 147.7 

NET FINANCIAL LIABILITIES3

(1 300.0)

(1 256.1)

(1 215.5)

(1 180.3)

(1 147.7)

NET DEBT4

(2 072.6)

(2 072.2)

(2 104.6)

(2 140.9)

(2 184.9)

 

 

 

 

 

 

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 A1.13:   Public Financial Corporations Sector Cash Flow Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

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

  153.0 

  152.6 

  162.8 

  168.4 

  178.4 

Interest Received

  224.9 

  242.5 

  233.5 

  234.8 

  229.0 

Dividend, Tax and Rate Equivalent Income

  74.8 

  62.9 

  65.1 

  68.2 

  71.7 

Other Receipts

  1.9 

  2.0 

  2.0 

  2.0 

  2.0 

 

  454.6 

  460.1 

  463.3 

  473.4 

  481.2 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(5.8)

(6.1)

(6.2)

(6.4)

(6.5)

Superannuation

(0.8)

(0.8)

(0.8)

(0.8)

(0.8)

Supplies and Consumables

(90.2)

(113.1)

(125.3)

(134.1)

(140.7)

Borrowing Costs

(183.1)

(167.6)

(162.4)

(167.6)

(164.5)

Grants and Subsidies Paid

(5.5)

(5.6)

(5.8)

(5.9)

(6.1)

Other Payments

(6.9)

(5.9)

(5.8)

(5.9)

(6.3)

 

(292.2)

(299.1)

(306.3)

(320.8)

(324.9)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

  162.4 

  161.0 

  157.0 

  152.6 

  156.3 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(0.9)

(0.6)

(0.7)

(0.6)

(0.6)

Sales of Non‑Financial Assets

.... 

  0.1 

.... 

.... 

  0.1 

 

(0.9)

(0.5)

(0.7)

(0.6)

(0.5)

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity injections

  730.4 

.... 

.... 

.... 

.... 

 

  730.4 

.... 

.... 

.... 

.... 

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

(241.0)

  594.2 

  363.1 

(41.9)

  57.2 

 

(241.0)

  594.2 

  363.1 

(41.9)

  57.2 

 

 

 

 

 

 

Net Cash Flows from Investing Activities

  488.5 

  593.8 

  362.4 

(42.5)

  56.8 

 

 

 

 

 

 

 


 

Table A1.13:   Public Financial Corporations Sector Cash Flow Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowing

(563.0)

(579.6)

(380.4)

  19.9 

(84.9)

Dividends and Tax Equivalents Paid

(98.5)

(175.0)

(138.7)

(129.5)

(127.7)

Net Cash Flows from Financing Activities

(661.5)

(754.6)

(519.1)

(109.6)

(212.6)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(10.6) 

0.2 

0.4 

0.4 

0.5 

 

 

 

 

 

 

Cash at Beginning of the Year

  18.7 

  8.1 

  8.3 

  8.7 

  9.1 

Cash at End of the Year

  8.1 

  8.3 

  8.7 

  9.1 

  9.6 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

  162.4 

  161.0 

  157.0 

  152.6 

  156.3 

Plus Net Cash Flows from Non‑Financial Assets

(0.9)

(0.5)

(0.7)

(0.6)

(0.5)

Plus Dividends and Tax Equivalents Paid

(98.5)

(175.0)

(138.7)

(129.5)

(127.7)

Equals CASH SURPLUS/(DEFICIT)

  63.1 

(14.4)

  17.7 

  22.5 

  28.2 

 

 

 

 

 

 

 


Table A1.14:   Total State Sector Income Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from Transactions

 

 

 

 

 

Grants

 4 371.9 

 3 682.9 

 3 673.5 

 3 735.4 

 3 748.3 

Taxation

 1 050.5 

 1 087.6 

 1 104.7 

 1 131.2 

 1 156.7 

Sales of Goods and Services

 3 423.0 

 3 414.1 

 3 510.7 

 3 682.7 

 3 817.4 

Fines and Regulatory Fees

  95.9 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Income

  132.8 

  150.5 

  140.8 

  145.9 

  140.2 

Dividend, Tax and Rate Equivalent Income

  74.8 

  62.9 

  65.1 

  68.2 

  71.7 

Other Revenue

  227.4 

  215.3 

  215.8 

  205.3 

  204.6 

 

 9 376.3 

 8 712.4 

 8 809.9 

 9 069.0 

 9 240.6 

Less Expenses from Transactions

 

 

 

 

 

Employee Expenses

 2 769.9 

 2 811.3 

 2 849.8 

 2 889.6 

 2 968.2 

Superannuation

  383.5 

  315.0 

  311.9 

  313.0 

  314.6 

Depreciation

  589.8 

  601.6 

  610.8 

  677.6 

  699.0 

Supplies and Consumables

 3 233.5 

 3 310.0 

 3 303.5 

 3 411.0 

 3 528.7 

Nominal Superannuation Interest Expense

  260.4 

  308.9 

  313.3 

  317.2 

  320.4 

Borrowing Costs

  179.2 

  168.7 

  163.8 

  172.4 

  166.5 

Grant Expenses

 1 106.9 

 1 211.9 

 1 228.0 

 1 240.1 

 1 198.6 

Other Expenses

  36.2 

  42.9 

  33.0 

  29.8 

  30.0 

 

 8 559.5 

 8 770.2 

 8 814.0 

 9 050.5 

 9 226.0 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

  816.8 

(57.9)

(4.1)

  18.5 

  14.6 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

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

  11.3 

  15.3 

  12.2 

  12.7 

  12.8 

Movement in Superannuation Liability

 3 143.3 

.... 

.... 

.... 

.... 

Other Gains/(Losses)

  84.9 

(36.0)

(7.2)

  26.0 

  34.4 

 

 3 239.5 

(20.6)

  5.1 

  38.7 

  47.2 

 

 

 

 

 

 

Equals Operating Result

 4 056.3 

(78.5)

  0.9 

  57.1 

  61.7 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

Revaluations of Non‑Financial Assets

  335.5 

  301.9 

  318.8 

  340.1 

  348.6 

Other Flows

(52.9)

  6.5 

  15.2 

(10.6)

(11.6)

 

  282.7 

  308.3 

  334.0 

  329.4 

  337.0 

 

 

 

 

 

 

Equals Comprehensive Result

 4 339.0 

  229.8 

  335.0 

  386.6 

  398.7 

 


Table A1.14:   Total State Sector Income Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

  816.8 

(57.9)

(4.1)

  18.5 

  14.6 

Less Net Acquisition of Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

  995.7 

 1 111.2 

 1 010.1 

  777.4 

  712.4 

Less Sale of Non‑Financial Assets

  30.5 

  33.9 

  31.2 

  31.2 

  31.4 

Less Depreciation

  589.8 

  601.6 

  610.8 

  677.6 

  699.0 

 

  375.3 

  475.7 

  368.2 

  68.7 

(17.9)

 

 

 

 

 

 

Equals FISCAL BALANCE

  441.4 

(533.6)

(372.3)

(50.2)

  32.5 

 

 

 

 

 

 

 


Table A1.15:   Total State Sector Balance Sheet as at 30 June

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial Assets

 

 

 

 

 

Cash and Deposits

  286.9 

  230.2 

  221.8 

  251.7 

  260.4 

Investments

 6 092.7 

 5 436.1 

 4 957.4 

 5 033.2 

 5 107.5 

Other Equity Investments

  97.4 

  100.7 

  104.8 

  110.2 

  114.6 

Receivables

  922.1 

  881.1 

  871.8 

  863.4 

  853.4 

Other Financial Assets

 1 047.7 

 1 094.9 

 1 093.4 

 1 089.6 

 1 088.4 

 

 8 446.7 

 7 743.0 

 7 249.1 

 7 348.0 

 7 424.3 

 

 

 

 

 

 

Non‑Financial Assets

 

 

 

 

 

Land and Buildings

 6 213.6 

 6 503.6 

 6 778.7 

 6 888.7 

 6 949.3 

Infrastructure

 12 399.0 

 12 797.9 

 13 168.9 

 13 461.7 

 13 717.8 

Plant and Equipment

  581.0 

  591.9 

  599.7 

  595.7 

  600.5 

Heritage and Cultural Assets

  471.9 

  484.0 

  496.1 

  508.3 

  520.5 

Biological Assets

  200.6 

  201.1 

  201.5 

  202.0 

  202.4 

Investment Property

  18.4 

  18.7 

  19.0 

  19.2 

  19.6 

Intangibles

  169.7 

  177.7 

  181.6 

  172.7 

  172.6 

Assets Held for Sale

  5.7 

  4.8 

  4.1 

  3.9 

  2.9 

Other Non‑Financial Assets

  174.4 

  133.6 

  137.3 

  137.3 

  137.1 

 

 20 234.4 

 20 913.2 

 21 586.9 

 21 989.5 

 22 322.7 

 

 

 

 

 

 

Total Assets

 28 681.1 

 28 656.2 

 28 836.1 

 29 337.5 

 29 747.0 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Borrowings

 6 055.0 

 5 702.1 

 5 428.7 

 5 442.5 

 5 332.5 

Superannuation

 6 678.6 

 6 776.0 

 6 862.0 

 6 934.5 

 6 991.8 

Employee Entitlements

  713.8 

  722.9 

  734.1 

  718.6 

  733.4 

Payables

  554.5 

  519.9 

  516.6 

  517.6 

  519.8 

Other Liabilities

 3 185.7 

 3 211.8 

 3 236.2 

 3 279.3 

 3 325.7 

Total Liabilities

 17 187.5 

 16 932.7 

 16 777.6 

 16 892.5 

 16 903.3 

 

 

 

 

 

 

NET ASSETS

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 

 


Table A1.15:   Total State Sector Balance Sheet as at 30 June (continued)

 

2017 

2018 

2019 

2020 

2021 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Equity

 

 

 

 

 

Accumulated Funds

 5 498.5 

 5 426.5 

 5 442.6 

 5 489.0 

 5 539.3 

Asset Revaluation Reserve

 5 985.2 

 6 287.0 

 6 605.8 

 6 945.9 

 7 294.5 

Other Equity

10.0 

10.0 

10.0 

10.0 

10.0 

Total Equity

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 11 493.7 

 11 723.5 

 12 058.5 

 12 445.0 

 12 843.8 

NET FINANCIAL WORTH2

(8 740.7)

(9 189.7)

(9 528.5)

(9 544.5)

(9 478.9)

NET FINANCIAL LIABILITIES3

 8 740.7 

 9 189.7 

 9 528.5 

 9 544.5 

 9 478.9 

NET DEBT4

(324.6)

  35.8 

  249.6 

  157.7 

(35.3)

 

 

 

 

 

 

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 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 A1.16:   Total State Sector Cash Flow Statement

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

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

 4 369.7 

 3 680.8 

 3 671.4 

 3 733.2 

 3 746.1 

Taxation

 1 040.9 

 1 086.4 

 1 101.8 

 1 129.4 

 1 154.2 

Sales of Goods and Services

 3 473.0 

 3 449.5 

 3 496.4 

 3 597.8 

 3 773.3 

Fines and Regulatory Fees

  95.8 

  98.9 

  99.3 

  100.3 

  101.6 

Interest Received

  132.9 

  150.4 

  140.7 

  145.9 

  140.2 

Dividend, Tax and Rate Equivalents

  74.8 

  62.9 

  65.1 

  68.2 

  71.7 

Other Receipts

  473.9 

  476.6 

  480.0 

  452.7 

  448.5 

 

 9 661.1 

 9 005.7 

 9 054.6 

 9 227.6 

 9 435.7 

Cash Payments for Operating Activities

 

 

 

 

 

Employee Entitlements

(2 773.2)

(2 824.4)

(2 860.4)

(2 925.3)

(2 972.0)

Superannuation

(492.1)

(509.0)

(520.6)

(540.5)

(557.0)

Supplies and Consumables

(3 236.1)

(3 263.8)

(3 213.6)

(3 230.3)

(3 389.0)

Borrowing Costs

(173.4)

(174.3)

(169.9)

(177.4)

(172.6)

Grants and Subsidies Paid

(1 107.3)

(1 212.3)

(1 228.5)

(1 240.5)

(1 199.1)

Other Payments

(327.7)

(330.6)

(325.1)

(304.7)

(305.1)

 

(8 109.8)

(8 314.4)

(8 318.1)

(8 418.8)

(8 594.9)

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 551.3 

  691.3 

  736.6 

  808.8 

  840.8 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

Net Cash Flows from Non‑Financial Assets

 

 

 

 

 

Purchases of Non‑Financial Assets

(976.7)

(1 104.4)

(1 000.9)

(765.9)

(700.5)

Sales of Non‑Financial Assets

  30.5 

  33.8 

  31.2 

  31.2 

  31.4 

 

(946.2)

(1 070.6)

(969.7)

(734.7)

(669.2)

 

 

 

 

 

 

Net Cash Flows from Financial Assets (Policy Purposes)

 

 

 

 

 

Equity Injections

(3.6)

(3.1)

(3.1)

(3.0)

(1.7)

Net Advances Paid

.... 

(2.1)

(2.2)

(2.2)

(2.2)

Equity Disposals

  0.7 

  0.7 

  0.7 

  0.7 

  0.7 

 

(2.9)

(4.5)

(4.5)

(4.5)

(3.1)

Net Cash Flows from Financial Assets (Liquidity Purposes)

 

 

 

 

 

Net Purchase of Investments

(1 251.9)

  679.8 

  502.3 

(53.7)

(50.0)

 

(1 251.9)

  679.8 

  502.3 

(53.7)

(50.0)

 

 

 

 

 

 

Net Cash Flows from Investing Activities

(2 200.9)

(395.3)

(471.9)

(792.9)

(722.3)


Table A1.16:   Total State Sector Cash Flow Statement (continued)

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

Net Borrowings

  537.7 

(352.6)

(273.1)

  14.0 

(109.7)

Net Cash Flows from Financing Activities

  537.7 

(352.6)

(273.1)

  14.0 

(109.7)

 

 

 

 

 

 

Net Increase/(Decrease) in Cash Held

(111.9)

(56.7)

(8.4)

  29.9 

 8.7 

 

 

 

 

 

 

Cash at Beginning of the Year

  398.8 

  286.9 

  230.2 

  221.8 

  251.7 

Cash at End of the Year

  286.9 

  230.2 

  221.8 

  251.7 

  260.4 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

Net Cash Flows from Operating Activities

 1 551.3 

  691.3 

  736.6 

  808.8 

  840.8 

Plus Net Cash Flows from Non‑Financial Assets

(946.2)

(1 070.6)

(969.7)

(734.7)

(669.2)

Equals CASH SURPLUS/(DEFICIT)

  605.1 

(379.3)

(233.1)

  74.1 

  171.6 

 

 

 

 

 

 

 


Table A1.17:   General Government Expenses from Transactions by Purpose

 

2016-17 

2017-18 

2018-19 

2019-20 

2020-21 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

General Public Services

 245.6 

 210.5 

 183.3 

 184.4 

 186.4 

Public Order and Safety

 522.0 

 541.8 

 547.5 

 546.4 

 559.2 

Education

1 497.3 

1 543.2 

1 573.2 

1 602.7 

1 646.6 

Health

1 712.4 

1 722.8 

1 730.2 

1 795.6 

1 837.6 

Social Security and Welfare

 449.7 

 453.5 

 507.3 

 461.3 

 454.4 

Housing and Community Amenities

 186.4 

 187.8 

 176.9 

 178.9 

 181.5 

Recreation and Culture

 180.8 

 192.6 

 186.8 

 189.4 

 199.2 

Fuel and Energy

 5.4 

 5.4 

 3.5 

 1.9 

 2.0 

Agriculture, Forestry, Fishing and Hunting

 93.4 

 92.0 

 85.8 

 85.2 

 85.8 

Mining and Mineral Resources

 6.3 

 9.5 

 6.9 

 7.1 

 6.9 

Transport and Communications

 297.4 

 279.2 

 270.3 

 306.3 

 318.1 

Other Economic Affairs

 151.1 

 193.6 

 138.8 

 166.6 

 112.4 

Nominal Interest on Superannuation

 236.3 

 285.6 

 289.7 

 293.3 

 296.2 

Other Purposes

 103.7 

 102.1 

 112.2 

 114.4 

 117.1 

 

 

 

 

 

 

 

5 687.6 

5 819.8 

5 812.3 

5 933.6 

6 003.4 

 

 

 

 

 

 

 

Table A1.17 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.