Appendix 1    Uniform Government Reporting

Key Issues

·       The estimated Net Operating Balance for 2018-19 is a surplus of $161.9 million for the General Government Sector, a deficit of $20.9 million for the Public Non‑Financial Corporations Sector, a surplus of $141 million for the Total Non‑Financial Public Sector, a deficit of $64.5 million for the Public Financial Corporations Sector and a surplus of $76.5 million for the Total State Sector.

·       The estimated Fiscal Balance for 2018-19 is a deficit of $284.6 million for the GGS, a deficit of $222.2 million for the PNFC Sector, a deficit of $506.8 million for the TNFP Sector, a deficit of $64.9 million for the PFC Sector and a deficit of $571.7 million for the Total State Sector.

·       As at 30 June 2019, GGS Net Debt is forecast to be negative $329.6 million, PNFC Sector Net Debt is forecast to be $2 596 million, TNFP Sector Net Debt is forecast to be $2 266.5 million, PFC Sector Net Debt is forecast to be negative $2 190.1 million and Total State Sector Net Debt is forecast to be $76.4 million.

·       Further information about the GGS Budget and Forward Estimates is included in chapter 4 of this Budget Paper. Details of the GGS 2017-18 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. This appendix provides Income Statement, Balance Sheet and Cash Flow Statement estimates for the:

·       General Government Sector;

·       Public Non‑Financial Corporations Sector;

·       Total Non‑Financial Public Sector;

·       Public Financial Corporations Sector; and

·       Total State Sector.

The statements present the 2017-18 Original Budget, 2017-18 Estimated Outcome, 2018-19 Budget Estimates and Forward Estimates for the period 2019-20 to 2021‑22. 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 2017‑18 will be released in the Treasurer’s Annual Financial Report 2017‑18. The Report will be publicly released by no later than 31 October 2018.

The Loan Council Allocation table is no longer required to be presented. All jurisdictions agreed to the removal of the Loan Council reporting requirements, effective from January 2018. The Loan Council process was historically set up for administrative purposes and had no impact on the State’s borrowing capacity.


Government Financial Estimates

Tables A1.1 to A1.15 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 A1.1:       General Government Income Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Revenue from transactions

 

 

 

 

 

 

Grants

 3 682.9 

 3 802.0 

 3 893.9 

 3 911.9 

 4 009.4 

 4 187.2 

Taxation

 1 128.5 

 1 161.1 

 1 215.2 

 1 247.8 

 1 274.0 

 1 301.2 

Sales of goods and services

  408.0 

  406.4 

  417.6 

  422.6 

  429.3 

  435.7 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest income

  19.6 

  22.4 

  17.8 

  13.3 

  12.1 

  12.5 

Dividend, tax and rate equivalent income

  358.4 

  376.5 

  409.7 

  391.6 

  369.9 

  368.9 

Other revenue

  177.7 

  168.4 

  164.6 

  162.3 

  157.3 

  149.2 

 

 5 874.0 

 6 035.8 

 6 217.3 

 6 249.2 

 6 353.1 

 6 556.5 

 

 

 

 

 

 

 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses

 2 400.4 

 2 513.8 

 2 531.5 

 2 588.7 

 2 658.5 

 2 735.6 

Superannuation

  273.5 

  318.4 

  294.1 

  297.4 

  299.0 

  302.6 

Depreciation

  268.6 

  267.7 

  264.1 

  322.7 

  337.8 

  348.2 

Supplies and consumables

 1 227.8 

 1 211.4 

 1 232.7 

 1 231.5 

 1 264.4 

 1 324.2 

Nominal superannuation interest expense

  285.6 

  254.9 

  270.9 

  273.7 

  276.0 

  277.6 

Borrowing costs

  9.8 

  9.7 

  9.5 

  9.1 

  8.8 

  8.3 

Grant expenses

 1 314.3 

 1 351.3 

 1 393.1 

 1 376.8 

 1 322.5 

 1 323.0 

Other expenses

  39.7 

  33.3 

  59.5 

  35.5 

  38.0 

  40.6 

 

 5 819.8 

 5 960.5 

 6 055.4 

 6 135.5 

 6 204.8 

 6 360.0 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

  54.3 

  75.3 

  161.9 

  113.7 

  148.3 

  196.4 

 

 

 

 

 

 

 

Plus Other economic flows - Included in Operating Result

 

 

 

 

 

 

Gain/(loss) on disposal of non‑financial assets

  15.3 

  13.1 

  12.2 

  12.7 

  13.5 

  13.9 

Movement in investment in PNFC and PFC sectors

(104.2)

  10.9 

(93.7)

(35.6)

(6.5)

  15.0 

Movements in superannuation liability

.... 

 1 186.5 

.... 

.... 

.... 

.... 

Other gains/(losses)

  9.8 

  27.2 

(4.2)

(5.4)

(5.1)

  0.5 

 

(79.0)

 1 237.7 

(85.7)

(28.3)

  1.8 

  29.4 

 

 

 

 

 

 

 

Equals Operating Result

(24.8)

 1 312.9 

  76.2 

  85.4 

  150.1 

  225.9 

 

 

 

 

 

 

 


 

Table A1.1:       General Government Income Statement (continued)

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Plus Other economic flows ‑ Other movements in equity

 

 

 

 

 

 

Revaluations of non‑financial assets

  250.8 

  250.6 

  268.4 

  288.5 

  294.9 

  299.8 

Other non‑owner movements in equity

  3.8 

  3.8 

  3.8 

  3.8 

  3.8 

  3.8 

 

  254.6 

  254.4 

  272.2 

  292.3 

  298.7 

  303.6 

 

 

 

 

 

 

 

Equals Comprehensive Result

  229.8 

 1 567.4 

  348.4 

  377.7 

  448.8 

  529.5 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

  54.3 

  75.3 

  161.9 

  113.7 

  148.3 

  196.4 

 

 

 

 

 

 

 

Less Net acquisition of non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

  609.9 

  514.7 

  741.0 

  719.6 

  532.4 

  523.8 

Less Sales of non‑financial assets

  33.2 

  30.9 

  30.4 

  30.8 

  51.6 

  32.0 

Less Depreciation

  268.6 

  267.7 

  264.1 

  322.7 

  337.8 

  348.2 

 

  308.2 

  216.0 

  446.5 

  366.1 

  143.0 

  143.6 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(253.9)

(140.7)

(284.6)

(252.4)

  5.3 

  52.9 

 

 

 

 

 

 

 


 

Table A1.2:       General Government Balance Sheet as at 30 June

 

2018 

2018 

2019 

2020 

2021 

2022 

 

Revised 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits

 1 117.2 

 1 130.0 

  938.7 

  823.3 

  844.8 

  876.6 

Investments

  46.4 

  71.7 

  139.8 

  187.5 

  193.7 

  193.9 

Equity investment in PNFC and PFC sectors

 5 654.0 

 5 417.4 

 5 398.3 

 5 423.5 

 5 464.7 

 5 535.4 

Other equity investments

  27.2 

  23.8 

  47.9 

  71.9 

  95.9 

  118.8 

Receivables

  315.4 

  320.9 

  316.9 

  311.4 

  306.4 

  303.2 

Other financial assets

  815.4 

  796.6 

  802.9 

  826.0 

  841.1 

  858.8 

 

 7 975.7 

 7 760.5 

 7 644.5 

 7 643.6 

 7 746.6 

 7 886.5 

 

 

 

 

 

 

 

Non‑financial assets

 

 

 

 

 

 

Land and buildings

 6 265.3 

 6 270.9 

 6 635.1 

 6 988.5 

 7 160.6 

 7 311.5 

Infrastructure

 4 816.5 

 4 916.2 

 5 259.9 

 5 552.8 

 5 802.7 

 6 086.8 

Plant and equipment

  229.0 

  244.0 

  255.9 

  268.3 

  290.6 

  305.4 

Heritage and cultural assets

  484.0 

  473.9 

  486.0 

  498.2 

  510.4 

  522.7 

Investment property

  3.5 

  3.7 

  4.0 

  4.2 

  4.6 

  4.9 

Intangible assets

  47.7 

  57.5 

  54.5 

  49.8 

  44.7 

  41.1 

Assets held for sale

  4.8 

  10.1 

  9.4 

  9.3 

  8.3 

  7.2 

Other non‑financial assets

  37.4 

  43.9 

  43.6 

  43.7 

  40.1 

  39.9 

 

 11 888.1 

 12 020.2 

 12 748.4 

 13 414.7 

 13 861.9 

 14 319.4 

 

 

 

 

 

 

 

Total Assets

 19 863.8 

 19 780.7 

 20 392.9 

 21 058.4 

 21 608.5 

 22 206.0 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings

  711.8 

  579.3 

  748.9 

  987.5 

 1 023.6 

 1 018.9 

Superannuation

 6 266.3 

 6 786.2 

 6 868.1 

 6 933.0 

 6 981.9 

 7 015.0 

Employee entitlements

  618.8 

  638.8 

  648.3 

  631.1 

  643.8 

  663.0 

Payables

  133.7 

  135.2 

  135.8 

  136.2 

  138.7 

  140.1 

Other liabilities

  409.7 

  396.3 

  398.4 

  399.5 

  400.7 

  419.7 

Total Liabilities

 8 140.3 

 8 535.8 

 8 799.6 

 9 087.3 

 9 188.6 

 9 256.6 

 

 

 

 

 

 

 

NET ASSETS

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Accumulated funds

 6 761.4 

 6 018.7 

 6 098.7 

 6 187.9 

 6 341.8 

 6 571.5 

Asset revaluation reserve

 4 962.1 

 5 226.2 

 5 494.6 

 5 783.1 

 6 078.0 

 6 377.8 

Total Equity

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

Table A1.2:       General Government Balance Sheet as at 30 June (continued)

 

2018 

2018 

2019 

2020 

2021 

2022 

 

Revised 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

NET WORTH1

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

NET FINANCIAL WORTH2

(164.6)

(775.3)

(1 155.1)

(1 443.7)

(1 442.0)

(1 370.1)

NET FINANCIAL LIABILITIES3

 5 818.6 

 6 192.7 

 6 553.4 

 6 867.2 

 6 906.8 

 6 905.5 

NET DEBT4

(451.8)

(622.4)

(329.6)

(23.3)

(14.8)

(51.6)

 

 

 

 

 

 

 

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 PNFC and PFC Sectors.

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

 

 


Table A1.3:       General Government Cash Flow Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Cash flows from operating activities

 

 

 

 

 

 

Cash received from operating activities

 

 

 

 

 

 

Grants received

 3 682.9 

 3 802.0 

 3 893.9 

 3 912.0 

 4 009.4 

 4 187.2 

Taxation

 1 127.3 

 1 159.0 

 1 213.6 

 1 245.4 

 1 272.1 

 1 298.9 

Sales of goods and services

  408.0 

  406.1 

  417.0 

  421.3 

  428.9 

  433.6 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest received

  19.6 

  22.3 

  17.8 

  13.3 

  12.1 

  12.5 

Dividend, tax and rate equivalents

  372.4 

  409.3 

  412.0 

  375.3 

  361.2 

  362.5 

Other receipts

  365.3 

  355.7 

  355.2 

  335.9 

  326.2 

  318.2 

 

 6 074.3 

 6 253.4 

 6 407.9 

 6 403.0 

 6 510.9 

 6 714.5 

 

 

 

 

 

 

 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(2 393.0)

(2 506.2)

(2 521.3)

(2 601.9)

(2 643.9)

(2 715.4)

Superannuation

(468.1)

(472.7)

(481.8)

(507.9)

(525.5)

(545.5)

Supplies and consumables

(1 239.9)

(1 225.9)

(1 244.5)

(1 243.5)

(1 271.3)

(1 317.4)

Borrowing costs

(9.8)

(9.8)

(9.5)

(9.3)

(8.8)

(8.3)

Grants and subsidies paid

(1 314.2)

(1 351.2)

(1 393.1)

(1 376.8)

(1 322.4)

(1 322.9)

Other payments

(229.1)

(222.6)

(252.1)

(208.9)

(208.1)

(211.0)

 

(5 654.1)

(5 788.5)

(5 902.3)

(5 948.3)

(5 980.0)

(6 120.5)

 

 

 

 

 

 

 

Net cash flows from operating activities

  420.3 

  464.9 

  505.6 

  454.7 

  531.0 

  594.0 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

(603.1)

(514.1)

(731.8)

(708.1)

(520.5)

(511.9)

Sales of non‑financial assets

  33.0 

  30.8 

  30.4 

  30.8 

  51.6 

  32.0 

 

(570.1)

(483.3)

(701.4)

(677.3)

(468.9)

(479.9)

Net cash flows from financial assets (policy purposes)

 

 

 

 

 

 

Equity injections

(58.8)

(151.4)

(98.7)

(84.8)

(71.7)

(78.5)

Net advances paid

(2.1)

(24.4)

(27.6)

  4.1 

  6.6 

  3.0 

Equity disposals

  0.7 

  1.1 

  1.1 

  1.1 

  1.1 

  1.1 

(60.3)

(174.6)

(125.1)

(79.6)

(63.9)

(74.4)

Net cash flows from financial assets (liquidity purposes)

 

 

 

 

 

 

Net (purchase)/sale of investments

…. 

  39.9 

(40.5)

(51.8)

(12.9)

(3.1)

 

.… 

  39.9 

(40.5)

(51.8)

(12.9)

(3.1)

 

 

 

 

 

 

 

Net cash flows from investing activities

(630.3)

(618.0)

(866.9)

(808.6)

(545.7)

(557.5)

Table A1.3:         General Government Cash Flow Statement (continued)

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Net cash flows from financing activities

 

 

 

 

 

 

Net borrowing

  147.8 

  29.7 

  170.0 

  238.6 

  36.1 

(4.8)

 

  147.8 

  29.7 

  170.0 

  238.6 

  36.1 

(4.8)

 

 

 

 

 

 

 

Net increase/(decrease) in cash held

(62.3)

(123.4)

(191.3)

(115.3)

  21.4 

  31.8 

 

 

 

 

 

 

Cash at the beginning of the year

 1 179.6 

 1 253.4 

 1 130.0 

  938.7 

  823.3 

  844.8 

Cash at the end of the year

 1 117.2 

 1 130.0 

  938.7 

  823.3 

  844.8 

  876.6 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash flows from operating activities

  420.3 

  464.9 

  505.6 

  454.7 

  531.0 

  594.0 

Plus Net cash flows from non‑financial Assets

(570.1)

(483.3)

(701.4)

(677.3)

(468.9)

(479.9)

Equals CASH SURPLUS/(DEFICIT)

(149.8)

(18.4)

(195.7)

(222.6)

  62.1 

  114.1 

 

 

 

 

 

 

 

 


 

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

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Revenue from transactions

 

 

 

 

 

 

Grants

  148.4 

  157.1 

  149.5 

  151.9 

  157.6 

  160.1 

Sales of goods and services

 2 901.5 

 3 128.6 

 3 209.2 

 3 231.4 

 3 264.3 

 3 365.1 

Interest income

  6.3 

  9.3 

  5.4 

  5.2 

  4.5 

  3.9 

Other revenue

  33.4 

  39.1 

  38.6 

  38.0 

  48.7 

  40.3 

 3 089.6 

 3 334.1 

 3 402.7 

 3 426.4 

 3 475.1 

 3 569.4 

 

 

 

 

 

 

 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses

  404.8 

  404.5 

  418.6 

  428.7 

  439.6 

  449.2 

Superannuation

  40.4 

  44.7 

  46.5 

  47.5 

  48.5 

  49.5 

Depreciation

  332.8 

  336.4 

  351.7 

  369.8 

  382.1 

  390.2 

Supplies and consumables

 1 955.3 

 2 075.5 

 2 135.8 

 2 130.3 

 2 145.9 

 2 191.8 

Nominal superannuation interest expense

  23.2 

  21.3 

  21.0 

  21.2 

  21.4 

  21.6 

Borrowing costs

  124.2 

  122.2 

  119.4 

  121.1 

  124.7 

  135.1 

Dividend and income tax equivalent expenses

  196.7 

  226.0 

  263.7 

  254.1 

  232.6 

  230.4 

Grant expenses

  40.8 

  50.6 

  41.5 

  42.5 

  43.4 

  44.4 

Other expenses

  26.8 

  36.0 

  25.4 

  25.5 

  26.0 

  26.6 

 3 145.1 

 3 317.1 

 3 423.6 

 3 440.6 

 3 464.3 

 3 538.6 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(55.5)

  16.9 

(20.9)

(14.3)

  10.8 

  30.8 

 

 

 

 

 

 

 

Plus Other economic flows ‑ Included in Operating Result

 

 

 

 

 

 

Movement in superannuation liability

.... 

  119.9 

.... 

.... 

.... 

.... 

Other gains/(losses)

(68.3)

(49.6)

(58.4)

(15.9)

(34.6)

(34.0)

 

(68.3)

  70.3 

(58.4)

(15.9)

(34.6)

(34.0)

 

 

 

 

 

 

 

Equals Operating Result

(123.8)

  87.3 

(79.3)

(30.2)

(23.7)

(3.2)

 

 

 


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

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

Plus Other economic flows ‑ Other movements in equity

 

 

Revaluations of non‑financial assets

  51.1 

  38.3 

  50.4 

  51.6 

  54.2 

  56.8 

Other non‑owner movements in equity

  11.1 

(103.7)

(7.0)

(4.8)

  9.4 

  10.8 

 

  62.2 

(65.4)

  43.5 

  46.8 

  63.5 

  67.6 

 

 

 

 

 

 

 

Equals Comprehensive Result

(61.7)

  21.8 

(35.9)

  16.6 

  39.8 

  64.4 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(55.5)

  16.9 

(20.9)

(14.3)

  10.8 

  30.8 

Less Net acquisition of non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

  500.7 

  662.2 

  553.2 

  516.4 

  891.3 

  848.0 

Less Sales of non‑financial assets

  0.7 

  61.5 

  0.2 

  0.5 

  0.2 

  0.1 

Less Depreciation

  332.8 

  336.4 

  351.7 

  369.8 

  382.1 

  390.2 

 

  167.2 

  264.4 

  201.3 

  146.2 

  509.0 

  457.7 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(222.8)

(247.4)

(222.2)

(160.5)

(498.2)

(426.9)

  

 

 

 

 

 

 


Table A1.5:       Public Non‑Financial Corporations Sector Balance Sheet as at 30 June

2018 

2018 

2019 

2020 

2021 

2022 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits

  222.4 

  220.1 

  108.5 

  79.4 

  86.6 

  81.3 

Investments

  1.3 

  18.6 

  19.6 

  19.4 

  19.2 

  19.2 

Other equity investments

  73.5 

  71.3 

  72.0 

  72.6 

  73.4 

  74.0 

Receivables

  521.9 

  500.8 

  491.4 

  498.4 

  502.7 

  504.9 

Other financial assets

  876.2 

 1 162.1 

 1 178.0 

 1 179.6 

 1 180.9 

 1 181.1 

 1 695.4 

 1 972.9 

 1 869.4 

 1 849.4 

 1 862.8 

 1 860.5 

 

 

 

 

 

 

Non‑financial assets

 

 

 

 

 

 

Land and buildings

  238.3 

  237.7 

  252.6 

  254.5 

  256.7 

  258.5 

Infrastructure

 7 981.4 

 8 259.3 

 8 367.2 

 8 521.7 

 9 061.3 

 9 540.0 

Plant and equipment

  361.7 

  352.6 

  377.1 

  386.1 

  386.0 

  381.0 

Biological assets

  201.1 

  93.4 

  93.7 

  93.9 

  94.2 

  94.4 

Intangible assets

  129.0 

  132.8 

  132.5 

  132.6 

  117.2 

  120.6 

Other non‑financial assets

  96.2 

  93.4 

  92.7 

  96.6 

  100.8 

  105.1 

 9 007.7 

 9 169.3 

 9 315.7 

 9 485.6 

 10 016.2 

 10 499.6 

 

 

 

 

 

 

Total Assets

 10 703.1 

 11 142.1 

 11 185.1 

 11 335.0 

 11 879.1 

 12 360.1 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings

 2 783.6 

 2 681.2 

 2 724.1 

 2 782.4 

 3 229.7 

 3 584.9 

Superannuation

  502.3 

  520.2 

  526.3 

  531.1 

  534.7 

  537.0 

Employee entitlements

  102.9 

  105.7 

  108.1 

  108.4 

  108.7 

  108.2 

Payables

  383.3 

  462.1 

  445.4 

  448.9 

  458.7 

  466.4 

Other liabilities

 2 550.6 

 3 281.9 

 3 250.8 

 3 256.4 

 3 252.1 

 3 248.4 

Total Liabilities

 6 322.6 

 7 051.1 

 7 054.8 

 7 127.2 

 7 583.9 

 7 944.8 

 

 

 

 

 

 

NET ASSETS

 4 380.4 

 4 091.0 

 4 130.3 

 4 207.7 

 4 295.2 

 4 415.3 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Accumulated funds

  720.8 

  568.9 

  549.5 

  585.3 

  558.7 

  528.0 

Asset revaluation reserve

 1 324.9 

 1 158.3 

 1 208.7 

 1 260.3 

 1 314.4 

 1 371.3 

Other equity

 2 334.6 

 2 363.8 

 2 372.0 

 2 362.2 

 2 422.1 

 2 516.0 

Total Equity

 4 380.4 

 4 091.0 

 4 130.3 

 4 207.7 

 4 295.2 

 4 415.3 


Table A1.5:       Public Non‑Financial Corporations Sector Balance Sheet as at 30 June (continued)

2018 

2018 

2019 

2020 

2021 

2022 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

NET WORTH1

 4 380.4 

 4 091.0 

 4 130.3 

 4 207.7 

 4 295.2 

 4 415.3 

NET FINANCIAL WORTH2

(4 627.3)

(5 078.3)

(5 185.4)

(5 277.8)

(5 721.0)

(6 084.3)

NET FINANCIAL LIABILITIES3

 4 627.3 

 5 078.3 

 5 185.4 

 5 277.8 

 5 721.0 

 6 084.3 

NET DEBT4

 2 559.8 

 2 442.5 

 2 596.0 

 2 683.6 

 3 124.0 

 3 484.5 

 

 

 

Notes:

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

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

3.   Net Financial Liabilities represents Total Liabilities less Financial Assets. For the 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 A1.6:       Public Non‑Financial Corporations Sector Cash Flow Statement

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

Cash received from operating activities

 

 

 

 

 

 

Grants received

  146.2 

  160.1 

  150.7 

  154.6 

  159.4 

  161.3 

Sales of goods and services

 2 921.8 

 3 122.2 

 3 257.5 

 3 273.5 

 3 307.9 

 3 413.3 

Interest received

  6.3 

  8.3 

  5.4 

  5.2 

  4.6 

  4.0 

Other receipts

  109.4 

  123.5 

  128.1 

  137.9 

  145.5 

  138.8 

 3 183.8 

 3 414.1 

 3 541.8 

 3 571.3 

 3 617.4 

 3 717.4 

 

 

 

 

 

 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(425.3)

(425.7)

(441.6)

(453.8)

(462.0)

(483.6)

Superannuation

(40.1)

(44.5)

(45.6)

(46.6)

(47.1)

(49.0)

Supplies and consumables

(1 943.7)

(2 090.0)

(2 163.6)

(2 155.1)

(2 166.9)

(2 212.1)

Borrowing costs

(131.8)

(119.6)

(127.0)

(127.9)

(128.4)

(130.5)

Grants and subsidies paid

(40.8)

(50.6)

(41.5)

(42.5)

(43.4)

(44.4)

Other payments

(119.6)

(132.5)

(129.5)

(133.1)

(133.2)

(133.9)

(2 701.3)

(2 862.9)

(2 948.9)

(2 958.9)

(2 981.0)

(3 053.4)

 

 

 

 

 

 

Net cash flows from operating activities

  482.4 

  551.2 

  592.9 

  612.4 

  636.4 

  664.0 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

(500.7)

(662.2)

(553.2)

(516.4)

(891.3)

(848.0)

Sales of non‑financial assets

  0.7 

  61.5 

  0.2 

  0.5 

  0.2 

  0.1 

 

(500.1)

(600.7)

(552.9)

(516.0)

(891.0)

(847.9)

 

 

 

 

 

 

 

Net cash flows from financial assets
(policy purposes)

 

 

 

 

 

 

Equity injections

  55.7 

  147.3 

  75.2 

  60.8 

  47.7 

  55.7 

  55.7 

  147.3 

  75.2 

  60.8 

  47.7 

  55.7 

 

 

 

 

 

 

Net cash flows from financial assets (liquidity purposes)

 

 

 

 

 

 

Net purchase of investments

  90.6 

  85.5 

(1.8)

(0.4)

(0.6)

(0.6)

 

  90.6 

  85.5 

(1.8)

(0.4)

(0.6)

(0.6)

 

 

 

 

 

 

Net cash flows from investing activities

(353.7)

(367.9)

(479.5)

(455.5)

(843.9)

(792.8)

 

 

 

 


Table A1.6:       Public Non‑Financial Corporations Sector Cash Flow Statement (continued)

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

Estimated 

 

Forward 

Forward 

Forward 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

$m 

$m 

$m 

$m 

$m 

$m 

Cash flows from financing activities

 

 

 

 

 

 

Net borrowing

  11.9 

(75.0)

  43.2 

  58.5 

  447.6 

  355.4 

Dividends and tax equivalents paid

(197.5)

(220.7)

(268.2)

(244.5)

(232.9)

(231.9)

Net cash flows from financing activities

(185.5)

(295.7)

(225.0)

(185.9)

  214.7 

  123.5 

 

 

 

 

 

 

 

Net increase/(decrease) in cash held

(56.8)

(112.3)

(111.6)

(29.1)

  7.2 

(5.3)

 

 

 

 

 

 

 

Cash at the beginning of the year

  279.2 

  332.4 

  220.1 

  108.5 

  79.4 

  86.6 

Cash at the end of the year

  222.4 

  220.1 

  108.5 

  79.4 

  86.6 

  81.3 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

Net cash flows from operating activities

  482.4 

  551.2 

  592.9 

  612.4 

  636.4 

  664.0 

Plus Net cash flows from non‑financial assets

(500.1)

(600.7)

(552.9)

(516.0)

(891.0)

(847.9)

Plus Dividends and tax equivalents paid

(197.5)

(220.7)

(268.2)

(244.5)

(232.9)

(231.9)

Equals CASH SURPLUS/(DEFICIT)

(215.1)

(270.2)

(228.2)

(148.0)

(487.5)

(415.8)

 

 

 

 

 

 

 

 


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

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Revenue from transactions

 

 

 

 

 

 

Grants

 3 682.9 

 3 802.0 

 3 893.9 

 3 911.9 

 4 009.4 

 4 187.2 

Taxation

 1 087.9 

 1 119.9 

 1 175.1 

 1 207.6 

 1 234.8 

 1 262.3 

Sales of goods and services

 3 279.9 

 3 495.2 

 3 587.7 

 3 616.1 

 3 656.0 

 3 763.1 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest income

  25.9 

  31.7 

  23.1 

  18.4 

  16.7 

  16.5 

Dividend, tax and rate equivalent income

  161.7 

  150.6 

  146.1 

  137.5 

  137.2 

  138.5 

Other revenue

  211.0 

  207.5 

  203.2 

  200.3 

  206.0 

  189.5 

 

 8 548.4 

 8 905.9 

 9 127.7 

 9 191.5 

 9 361.2 

 9 658.8 

 

 

 

 

 

 

 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses

 2 805.2 

 2 918.3 

 2 950.1 

 3 017.4 

 3 098.1 

 3 184.7 

Superannuation

  314.0 

  363.1 

  340.7 

  344.9 

  347.5 

  352.0 

Depreciation

  601.4 

  604.1 

  615.7 

  692.5 

  719.8 

  738.4 

Supplies and consumables

 3 153.6 

 3 247.1 

 3 329.5 

 3 323.9 

 3 372.6 

 3 478.3 

Nominal superannuation interest expense

  308.9 

  276.3 

  291.9 

  295.0 

  297.4 

  299.2 

Borrowing costs

  117.0 

  114.4 

  113.3 

  115.1 

  120.0 

  130.7 

Grant expenses

 1 206.8 

 1 244.8 

 1 285.1 

 1 267.4 

 1 208.4 

 1 207.3 

Other expenses

  42.9 

  45.6 

  60.3 

  35.9 

  38.3 

  41.0 

 

 8 549.7 

 8 813.7 

 8 986.7 

 9 092.1 

 9 202.1 

 9 431.6 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(1.2)

  92.2 

  141.0 

  99.4 

  159.1 

  227.2 

 

 

 

 

 

 

 

Plus Other economic flows - Included in
Operating Result

 

 

 

 

 

Gain/(loss) on sale of non-financial assets

  15.3 

  13.1 

  12.2 

  12.7 

  13.5 

  13.9 

Movement in investments in PFC sector

(42.5)

(11.0)

(57.9)

(52.3)

(46.3)

(49.4)

Movement in superannuation liability

.... 

 1 306.4 

.... 

.... 

.... 

.... 

Other gains/(losses)

(58.5)

(22.4)

(62.6)

(21.2)

(39.7)

(33.5)

 

(85.7)

 1 286.1 

(108.3)

(60.8)

(72.5)

(69.0)

 

 

 

 

 

 

 

Equals Operating Result

(86.9)

 1 378.3 

 32.7 

  38.6 

  86.6 

  158.2 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Plus Other economic flows - Other movements in equity

 

 

 

 

 

 

Revaluations of non-financial assets

  301.9 

  288.9 

  318.8 

  340.1 

  349.0 

  356.7 

Other flows

  14.9 

(99.9)

(3.2)

(1.0)

  13.2 

  14.6 

 

  316.7 

  189.0 

  315.7 

  339.1 

  362.2 

  371.2 

 

 

 

 

 

 

 

Equals Comprehensive Result

  229.8 

 1 567.4 

  348.4 

  377.7 

  448.8 

  529.5 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(1.2)

  92.2 

  141.0 

  99.4 

  159.1 

  227.2 

Less Net acquisition of non-financial assets

 

 

 

 

 

 

Purchase of non-financial assets

 1 110.7 

 1 176.9 

 1 294.1 

 1 236.1 

 1 423.6 

 1 371.8 

Less sale of non-financial assets

  33.8 

  92.2 

  30.6 

  31.3 

  51.8 

  32.1 

Less Depreciation

  601.4 

  604.1 

  615.7 

  692.5 

  719.8 

  738.4 

 

  475.4 

  480.6 

  647.8 

  512.3 

  652.0 

  601.2 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(476.7)

(388.4)

(506.8)

(412.9)

(492.9)

(374.0)

 

 


Table A1.8:       Total Non‑Financial Public Sector Balance Sheet as at 30 June

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits

 1 339.6 

 1 350.1 

 1 047.1 

  902.7 

  931.4 

  957.8 

Investments

  47.2 

  89.7 

  158.8 

  206.2 

  212.3 

  212.5 

Equity investment in PFC sector

 1 273.6 

 1 326.4 

 1 268.0 

 1 215.8 

 1 169.5 

 1 120.1 

Other equity investments

  100.7 

  95.1 

  119.8 

  144.5 

  169.3 

  192.8 

Receivables

  837.3 

  821.7 

  808.3 

  809.8 

  809.2 

  808.1 

Other financial assets

  837.4 

 1 147.8 

 1 169.4 

 1 179.6 

 1 190.9 

 1 205.5 

 

 4 435.9 

 4 830.9 

 4 571.6 

 4 458.7 

 4 482.5 

 4 496.8 

 

 

 

 

 

 

 

Non-financial assets

 

 

 

 

 

 

Land and buildings

 6 503.6 

 6 508.6 

 6 887.7 

 7 243.0 

 7 417.2 

 7 570.0 

Infrastructure

 12 797.9 

 13 175.5 

 13 627.1 

 14 074.6 

 14 864.0 

 15 626.8 

Plant and equipment

  590.6 

  596.6 

  633.0 

  654.5 

  676.6 

  686.4 

Heritage and cultural assets

  484.0 

  473.9 

  486.0 

  498.2 

  510.4 

  522.7 

Biological assets

  201.1 

  93.4 

  93.7 

  93.9 

  94.2 

  94.4 

Investment property

  3.5 

  3.7 

  4.0 

  4.2 

  4.6 

  4.9 

Intangible assets

  176.7 

  190.3 

  187.0 

  182.4 

  161.9 

  161.7 

Assets held for sale

  4.8 

  10.1 

  22.8 

  22.6 

  21.6 

  20.6 

Other non-financial assets

  133.6 

  137.4 

  122.9 

  126.9 

  127.5 

  131.6 

 

 20 895.8 

 21 189.5 

 22 064.0 

 22 900.3 

 23 878.1 

 24 819.0 

 

 

 

 

 

 

 

Total Assets

 25 331.6 

 26 020.4 

 26 635.6 

 27 359.0 

 28 360.6 

 29 315.8 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings

 3 494.8 

 3 259.9 

 3 472.5 

 3 769.4 

 4 252.8 

 4 603.2 

Superannuation

 6 768.6 

 7 306.3 

 7 394.4 

 7 464.1 

 7 516.5 

 7 552.0 

Employee entitlements

  721.7 

  744.5 

  756.4 

  739.5 

  752.4 

  771.2 

Payables

  517.0 

  597.3 

  581.3 

  585.1 

  597.4 

  606.5 

Other liabilities

 2 106.0 

 2 867.3 

 2 837.8 

 2 829.9 

 2 821.7 

 2 833.6 

Total Liabilities

 13 608.1 

 14 775.5 

 15 042.3 

 15 388.0 

 15 940.8 

 16 366.5 

 

 

 

 

 

 

 

NET ASSETS

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

 

 

 

 

 

 


 

Table A1.8:       Total Non‑Financial Public Sector Balance Sheet as at 30 June (continued)

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Equity

 

 

 

 

 

 

Accumulated funds

 5 436.5 

 4 860.4 

 4 890.0 

 4 927.6 

 5 027.4 

 5 200.2 

Asset revaluation reserve

 6 287.0 

 6 384.5 

 6 703.3 

 7 043.4 

 7 392.5 

 7 749.1 

Total Equity

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

NET FINANCIAL WORTH2

(9 172.3)

(9 944.6)

(10 470.8)

(10 929.3)

(11 458.3)

(11 869.7)

NET FINANCIAL LIABILITIES3

 10 445.9 

 11 271.0 

 11 738.8 

 12 145.0 

 12 627.8 

 12 989.9 

NET DEBT4

 2 108.0 

 1 820.1 

 2 266.5 

 2 660.4 

 3 109.1 

 3 432.9 

 

 

 

 

 

 

 

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, excluding Equity investment in PFC Sector.

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

 


Table A1.9:       Total Non‑Financial Public Sector Cash Flow Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Cash flows from operating activities

 

Cash receipts from operating activities

 

 

 

 

 

 

Grants received

 3 680.8 

 3 805.0 

 3 895.1 

 3 914.8 

 4 011.2 

 4 188.4 

Taxation

 1 086.7 

 1 117.8 

 1 173.5 

 1 205.2 

 1 232.9 

 1 260.1 

Sales of goods and services

 3 300.2 

 3 488.6 

 3 635.6 

 3 656.9 

 3 699.1 

 3 809.1 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest received

  25.9 

  30.6 

  23.1 

  18.5 

  16.7 

  16.5 

Dividend, tax and rate equivalents

  175.0 

  188.7 

  143.8 

  130.8 

  128.3 

  130.6 

Other receipts

  474.7 

  479.2 

  483.3 

  473.8 

  471.7 

  457.0 

 

 8 842.1 

 9 208.8 

 9 453.0 

 9 499.9 

 9 661.0 

 9 963.4 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(2 818.3)

(2 931.9)

(2 963.0)

(3 055.7)

(3 105.9)

(3 198.9)

Superannuation

(508.2)

(517.2)

(527.4)

(554.4)

(572.6)

(594.5)

Supplies and consumables

(3 154.0)

(3 276.2)

(3 369.0)

(3 360.8)

(3 400.5)

(3 491.8)

Borrowing costs

(124.7)

(111.9)

(121.0)

(122.0)

(123.7)

(126.1)

Grants and subsidies paid

(1 206.7)

(1 244.8)

(1 285.1)

(1 267.4)

(1 208.3)

(1 207.2)

Other payments

(325.0)

(331.5)

(357.1)

(316.9)

(315.5)

(318.7)

 

(8 136.9)

(8 413.4)

(8 622.6)

(8 677.2)

(8 726.5)

(8 937.3)

 

 

 

 

 

 

 

Net cash flows from operating activities

  705.3 

  795.5 

  830.3 

  822.6 

  934.5 

 1 026.1 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non-financial assets

 

 

 

 

 

 

Purchase of non-financial assets

(1 103.8)

(1 176.3)

(1 284.9)

(1 224.5)

(1 411.7)

(1 359.9)

Sales of non-financial assets

  33.7 

  92.2 

  30.6 

  31.3 

  51.8 

  32.1 

 

(1 070.1)

(1 084.1)

(1 254.3)

(1 193.2)

(1 359.9)

(1 327.8)

 

 

 

 

 

 

 

Net cash flows from financial assets (policy purposes)

 

 

 

 

 

 

Equity injections

(3.1)

(4.0)

(23.5)

(24.0)

(24.0)

(22.8)

Net advances paid

(2.1)

(24.4)

(27.6)

  4.1 

  6.6 

  3.0 

Equity disposals

  0.7 

  1.1 

  1.1 

  1.1 

  1.1 

  1.1 

 

(4.5)

(27.2)

(49.9)

(18.7)

(16.2)

(18.7)

Net cash flows from financial assets (liquidity purposes)

 

 

 

 

 

 

Net purchase of investments

  90.6 

  125.4 

(42.3)

(52.2)

(13.4)

(3.8)

 

  90.6 

  125.4 

(42.3)

(52.2)

(13.4)

(3.8)

 

 

 

 

 

 

 

Net cash flows from investing activities

(984.1)

(985.9)

(1 346.5)

(1 264.2)

(1 389.6)

(1 350.3)

Table A1.9:       Total Non‑Financial Public Sector Cash Flow Statement (continued)

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Cash flows from financing activities

 

 

 

 

 

 

Net borrowing

  159.7 

(45.3)

  213.2 

  297.1 

  483.7 

  350.6 

Net cash flows from financing activities

  159.7 

(45.3)

  213.2 

  297.1 

  483.7 

  350.6 

 

 

 

 

 

 

 

Net increase/(decrease) in cash held

(119.1)

(235.7)

(302.9)

(144.4)

  28.6 

  26.5 

 

 

 

 

 

 

 

Cash at the beginning of the year

 1 458.8 

 1 585.8 

 1 350.1 

 1 047.1 

  902.7 

  931.4 

Cash at the end of the period

 1 339.6 

 1 350.1 

 1 047.1 

  902.7 

  931.4 

  957.8 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash flows from operating activities

  705.3 

  795.5 

  830.3 

  822.6 

  934.5 

 1 026.1 

Plus Net cash flows from non-financial assets

(1 070.1)

(1 084.1)

(1 254.3)

(1 193.2)

(1 359.9)

(1 327.8)

Equals CASH SURPLUS/(DEFICIT)

(364.9)

(288.6)

(424.0)

(370.6)

(425.4)

(301.7)

 

 

 

 

 

 

 

 


Table A1.10:     Public Financial Corporations Sector Income Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Revenue from transactions

 

 

 

 

 

 

Sales of goods and services

  134.2 

  135.5 

  138.8 

  143.3 

  151.0 

  159.3 

Interest income

  242.5 

  239.3 

  238.8 

  230.1 

  243.8 

  265.9 

Dividend income

  62.9 

  58.3 

  60.8 

  63.6 

  66.9 

  70.4 

Other revenue

  4.3 

  5.1 

  4.5 

  4.5 

  4.5 

  4.5 

 

  444.0 

  438.2 

  443.0 

  441.6 

  466.1 

  500.0 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses

  6.1 

  6.2 

  6.6 

  6.5 

  6.6 

  6.8 

Superannuation

  1.0 

  1.0 

  1.1 

  1.1 

  1.2 

  1.2 

Depreciation

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

Supplies and consumables

  156.5 

  151.5 

  160.7 

  173.0 

  178.7 

  184.8 

Borrowing costs

  169.6 

  186.8 

  187.3 

  182.3 

  196.0 

  223.9 

Dividend and income tax equivalent expenses

  161.7 

  150.6 

  146.1 

  137.5 

  137.2 

  138.5 

Grant expenses

  5.1 

  5.0 

  5.2 

  5.2 

  5.4 

  5.5 

Other expenses

  0.3 

  0.3 

  0.4 

  0.4 

  0.4 

  0.4 

 

  500.6 

  501.5 

  507.5 

  506.2 

  525.7 

  561.3 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(56.6)

(63.3)

(64.5)

(64.6)

(59.6)

(61.3)

 

 

 

 

 

 

 

Plus Other economic flows ‑ Included in Operating Result

 

 

 

 

 

 

Other gains/(losses)

  21.8 

  101.9 

  25.4 

  26.6 

  28.0 

  29.4 

 

  21.8 

  101.9 

  25.4 

  26.6 

  28.0 

  29.4 

 

 

 

 

 

 

 

Equals Operating Result

(34.8)

  38.6 

(39.1)

(38.0)

(31.6)

(31.9)

 

 

 

 

 

 

 

Plus Other economic flows ‑ Other movements in equity

 

 

 

 

 

 

Other flows

(8.7)

(49.6)

(19.3)

(14.3)

(14.7)

(17.5)

 

(8.7)

(49.6)

(19.3)

(14.3)

(14.7)

(17.5)

 

 

 

 

 

 

 

Equals Comprehensive Result

(43.5)

(11.0)

(58.4)

(52.3)

(46.3)

(49.4)

 

 

 

 

 

 

 

 


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

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(56.6)

(63.3)

(64.5)

(64.6)

(59.6)

(61.3)

Less Net acquisition of non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

  0.6 

  0.7 

  0.7 

  0.6 

  0.6 

  0.6 

Less Sale of non‑financial assets

  0.1 

  .... 

  0.1 

.... 

.... 

  0.1 

Less Depreciation

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

  0.2 

 

  0.3 

  0.5 

  0.4 

  0.4 

  0.3 

  0.2 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(56.9)

(63.8)

(64.9)

(65.0)

(59.9)

(61.6)

 

 

 

 

 

 

 

 


Table A1.11:     Public Financial Corporations Sector Balance Sheet as at 30 June

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits

  8.3 

  6.4 

  6.4 

  6.5 

  6.5 

  6.6 

Investments

 8 595.5 

 8 263.3 

 8 260.9 

 8 026.2 

 8 428.1 

 8 988.4 

Receivables

  43.7 

  29.3 

  22.2 

  17.2 

  11.0 

  12.5 

Other financial assets

  297.5 

  268.3 

  267.9 

  264.5 

  259.8 

  257.9 

 

 8 944.9 

 8 567.3 

 8 557.3 

 8 314.4 

 8 705.4 

 9 265.3 

 

 

 

 

 

 

 

Non‑financial assets

 

 

 

 

 

 

Plant and equipment

  1.3 

  1.0 

  1.3 

  1.8 

  2.2 

  2.4 

Investment property

  15.2 

  16.5 

  16.5 

  16.5 

  16.5 

  16.5 

Intangible assets

  1.0 

  0.8 

  0.8 

  0.9 

  0.8 

  0.7 

 

  17.5 

  18.2 

  18.6 

  19.1 

  19.4 

  19.6 

 

 

 

 

 

 

 

Total Assets

 8 962.4 

 8 585.5 

 8 575.9 

 8 333.5 

 8 724.9 

 9 284.9 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings

 6 531.5 

 6 098.3 

 6 077.2 

 5 814.3 

 6 178.1 

 6 709.0 

Superannuation

  7.4 

  6.0 

  6.5 

  6.9 

  7.4 

  7.9 

Employee entitlements

  1.2 

  1.3 

  1.4 

  1.4 

  1.4 

  1.5 

Payables

  2.9 

  2.9 

  2.9 

  2.9 

  2.9 

  2.9 

Other liabilities

 1 145.7 

 1 150.6 

 1 219.9 

 1 292.2 

 1 365.5 

 1 443.5 

Total Liabilities

 7 688.8 

 7 259.1 

 7 307.8 

 7 117.7 

 7 555.4 

 8 164.7 

 

 

 

 

 

 

 

NET ASSETS

 1 273.6 

 1 326.4 

 1 268.1 

 1 215.8 

 1 169.5 

 1 120.1 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Accumulated funds

  571.2 

  646.1 

  648.8 

  662.1 

  685.9 

  711.6 

Other equity

 702.4 

  680.3 

  619.3 

  553.7 

  483.6 

  408.5 

Total Equity

 1 273.6 

 1 326.4 

 1 268.1 

 1 215.8 

 1 169.5 

 1 120.1 

 

 

 

 

 

 

 

 


Table A1.11:     Public Financial Corporations Sector Balance Sheet as at 30 June (continued)

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 1 273.6 

 1 326.4 

 1 268.1 

 1 215.8 

 1 169.5 

 1 120.1 

NET FINANCIAL WORTH2

 1 256.1 

 1 308.2 

 1 249.5 

 1 196.6 

 1 150.1 

 1 100.5 

NET FINANCIAL LIABILITIES3

(1 256.1)

(1 308.2)

(1 249.5)

(1 196.6)

(1 150.1)

(1 100.5)

NET DEBT4

(2 072.2)

(2 171.4)

(2 190.1)

(2 218.4)

(2 256.5)

(2 285.9)

 

 

 

 

 

 

 

Notes:

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

2.   Net Financial Worth represents 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 A1.12:     Public Financial Corporations Sector Cash Flow Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

Cash flows from operating activities

 

 

 

 

 

 

Cash received from operating activities

 

 

 

 

 

 

Sales of goods and services

  152.6 

  154.6 

  163.9 

  168.5 

  178.6 

  180.2 

Interest received

  242.5 

  239.4 

  238.9 

  230.1 

  243.8 

  265.9 

Dividends received

  62.9 

  58.3 

  60.8 

  63.6 

  66.9 

  70.4 

Other receipts

  2.0 

  2.0 

  2.1 

  2.1 

  2.1 

  2.1 

 

  460.1 

  454.3 

  465.7 

  464.3 

  491.4 

  518.6 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(6.1)

(6.1)

(6.5)

(6.4)

(6.6)

(6.8)

Superannuation

(0.8)

(0.8)

(0.9)

(0.9)

(0.9)

(0.9)

Supplies and consumables

(113.1)

(101.9)

(116.2)

(124.0)

(130.9)

(136.6)

Borrowing costs

(167.6)

(186.1)

(185.9)

(179.8)

(194.8)

(217.7)

Grants and subsidies paid

(5.6)

(5.5)

(5.7)

(5.8)

(6.0)

(6.1)

Other payments

(5.9)

(6.8)

(6.3)

(6.3)

(6.6)

(7.1)

 

(299.1)

(307.1)

(321.3)

(323.2)

(345.8)

(375.1)

 

 

 

 

 

 

 

Net cash flows from operating activities

  161.0 

  147.2 

  144.4 

  141.1 

  145.6 

  143.4 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

(0.6)

(0.7)

(0.7)

(0.6)

(0.6)

(0.6)

Sales of non‑financial assets

  0.1 

  .... 

  0.1 

.... 

.... 

  0.1 

 

(0.5)

(0.7)

(0.6)

(0.6)

(0.6)

(0.5)

Net cash flows from financial assets (liquidity purposes)

 

 

 

 

 

 

Net purchase of investments

  594.2 

 1 091.2 

  21.1 

  253.3 

(380.6)

(543.2)

 

  594.2 

 1 091.2 

  21.1 

  253.3 

(380.6)

(543.2)

 

 

 

 

 

 

 

Net cash flows from investing activities

  593.8 

 1 090.5 

  20.5 

  252.7 

(381.2)

(543.7)

 

 

 

 

 

 

 

 


 

Table A1.12:     Public Financial Corporations Sector Cash Flow Statement (continued)

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

Net borrowing

(579.6)

(1 055.8)

(21.1)

(263.0)

  363.9 

  530.8 

Dividends and tax equivalents paid

(175.0)

(188.7)

(143.8)

(130.8)

(128.3)

(130.6)

Net cash flows from financing activities

(754.6)

(1 244.5)

(164.8)

(393.8)

  235.6 

  400.3 

 

 

 

 

 

 

 

Net increase/(decrease) in cash held

0.2 

(6.8)

.... 

.... 

.... 

.... 

 

 

 

 

 

 

 

Cash at beginning of the year

  8.1 

  13.1 

  6.4 

  6.4 

  6.5 

  6.5 

Cash at end of the year

  8.3 

  6.4 

  6.4 

  6.5 

  6.5 

  6.6 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

Net cash flows from operating activities

  161.0 

  147.2 

  144.4 

  141.1 

  145.6 

  143.4 

Plus Net cash flows from non‑financial assets

(0.5)

(0.7)

(0.6)

(0.6)

(0.6)

(0.5)

Plus Dividends and tax equivalents paid

(175.0)

(188.7)

(143.8)

(130.8)

(128.3)

(130.6)

Equals CASH SURPLUS/(DEFICIT)

(14.4)

(42.1)

  .... 

  9.7 

  16.8 

  12.4 

 

 

 

 

 

 

 

 


Table A1.13:     Total State Sector Income Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Revenue from transactions

 

 

 

 

 

 

Grants

 3 682.9 

 3 802.0 

 3 893.9 

 3 911.9 

 4 009.4 

 4 187.2 

Taxation

 1 087.6 

 1 119.6 

 1 174.8 

 1 207.3 

 1 234.4 

 1 262.0 

Sales of goods and services

 3 414.1 

 3 630.7 

 3 726.6 

 3 759.4 

 3 806.9 

 3 922.4 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest income

  150.5 

  150.0 

  150.5 

  139.9 

  148.8 

  160.2 

Dividend, tax and rate equivalent income

  62.9 

  58.3 

  60.8 

  63.6 

  66.9 

  70.4 

Other revenue

  215.3 

  212.6 

  207.8 

  204.8 

  210.5 

  194.0 

 

 8 712.4 

 9 072.2 

 9 312.9 

 9 386.7 

 9 578.1 

 9 897.8 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses

 2 811.3 

 2 924.4 

 2 956.8 

 3 023.8 

 3 104.7 

 3 191.6 

Superannuation

  315.0 

  364.1 

  341.8 

  346.0 

  348.6 

  353.2 

Depreciation

  601.6 

  604.3 

  615.9 

  692.7 

  720.0 

  738.6 

Supplies and consumables

 3 310.0 

 3 398.7 

 3 490.2 

 3 496.9 

 3 551.3 

 3 663.1 

Nominal superannuation interest expense

  308.9 

  276.3 

  291.9 

  295.0 

  297.4 

  299.2 

Borrowing costs

  168.7 

  180.1 

  189.2 

  188.8 

  204.3 

  232.4 

Grant expenses

 1 211.9 

 1 249.8 

 1 290.3 

 1 272.7 

 1 213.8 

 1 212.8 

Other expenses

  42.9 

  45.6 

  60.3 

  35.9 

  38.3 

  41.0 

 

 8 770.2 

 9 043.2 

 9 236.4 

 9 351.9 

 9 478.5 

 9 731.9 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(57.9)

  28.9 

  76.5 

  34.8 

  99.5 

  165.9 

 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Included in Operating Result

 

 

 

 

 

 

Gain/(loss) on sale of non-financial assets

  15.3 

  13.1 

  12.2 

  12.7 

  13.5 

  13.9 

Movement in superannuation liability

.... 

 1 306.4 

.... 

.... 

.... 

.... 

Other gains/(losses)

(36.0)

  56.1 

(42.6)

(0.8)

(18.2)

(10.8)

 

(20.6)

 1 375.6 

(30.4)

  11.9 

(4.7)

  3.1 

 

 

 

 

 

 

 

Equals Operating Result

(78.5)

 1 404.5 

  46.1 

  46.7 

  94.8 

  168.9 

 

 

 

 

 

 

 

Plus Other Economic Flows ‑ Other Movements in Equity

 

 

 

 

 

 

Revaluations of non‑financial assets

  301.9 

  290.9 

  318.8 

  340.1 

  349.0 

  356.7 

Other flows

  6.5 

(128.1)

(16.6)

(9.1)

  4.9 

  3.9 

 

  308.3 

  162.9 

  302.3 

  331.0 

  354.0 

  360.6 

 

 

 

 

 

 

 

Equals Comprehensive Result

  229.8 

 1 567.4 

  348.4 

  377.7 

  448.8 

  529.5 

 


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

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(57.9)

  28.9 

  76.5 

  34.8 

  99.5 

  165.9 

Less Net acquisition of non-financial assets

 

 

 

 

 

 

Purchase of non-financial assets

 1 111.2 

 1 177.6 

 1 294.8 

 1 236.7 

 1 424.2 

 1 372.3 

Less Sale of non-financial assets

  33.9 

  92.3 

  30.7 

  31.3 

  51.8 

  32.2 

Less Depreciation

  601.6 

  604.3 

  615.9 

  692.7 

  720.0 

  738.6 

 

  475.7 

  481.0 

  648.2 

  512.7 

  652.3 

  601.5 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(533.6)

(452.1)

(571.7)

(477.9)

(552.8)

(435.6)

 

 

 

 

 

 

 

 


Table A1.14:     Total State Sector Balance Sheet as at 30 June

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits

  230.2 

  85.0 

  72.7 

  50.8 

  54.9 

  45.2 

Investments

 5 436.1 

 5 223.0 

 5 042.9 

 4 524.2 

 4 427.1 

 4 638.8 

Other equity investments

  100.7 

  95.1 

  119.8 

  144.5 

  169.3 

  192.8 

Receivables

  881.1 

  851.0 

  830.4 

  827.0 

  820.1 

  820.5 

Other financial assets

 1 094.9 

 1 389.3 

 1 401.4 

 1 398.1 

 1 394.2 

 1 392.7 

 

 7 743.0 

 7 643.4 

 7 467.4 

 6 944.7 

 6 865.6 

 7 090.0 

 

 

 

 

 

 

 

Non-financial assets

 

 

 

 

 

 

Land and buildings

 6 503.6 

 6 508.6 

 6 887.7 

 7 243.0 

 7 417.2 

 7 570.0 

Infrastructure

 12 797.9 

 13 175.5 

 13 627.1 

 14 074.6 

 14 864.0 

 15 626.8 

Plant and equipment

  591.9 

  597.6 

  634.3 

  656.3 

  678.8 

  688.8 

Heritage and cultural assets

  484.0 

  473.9 

  486.0 

  498.2 

  510.4 

  522.7 

Biological assets

  201.1 

  93.4 

  93.7 

  93.9 

  94.2 

  94.4 

Investment property

  18.7 

  20.2 

  20.5 

  20.7 

  21.0 

  21.4 

Intangible assets

  177.7 

  191.1 

  187.8 

  183.3 

  162.7 

  162.4 

Assets held for sale

  4.8 

  10.1 

  22.8 

  22.6 

  21.6 

  20.6 

Other non-financial assets

  133.6 

  137.4 

  122.9 

  126.9 

  127.5 

  131.6 

 

 20 913.2 

 21 207.7 

 22 082.6 

 22 919.4 

 23 897.5 

 24 838.6 

 

 

 

 

 

 

 

Total Assets

 28 656.2 

 28 851.1 

 29 550.0 

 29 864.1 

 30 763.2 

 31 928.6 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings

 5 702.1 

 4 956.7 

 5 192.0 

 5 017.0 

 5 334.6 

 5 831.0 

Superannuation

 6 776.0 

 7 312.3 

 7 400.8 

 7 471.0 

 7 523.9 

 7 559.9 

Employee entitlements

  722.9 

  745.8 

  757.8 

  740.9 

  753.9 

  772.6 

Payables

  519.9 

  600.2 

  584.2 

  588.1 

  600.3 

  609.4 

Other liabilities

 3 211.8 

 3 991.1 

 4 021.8 

 4 076.1 

 4 130.7 

 4 206.4 

Total Liabilities

 16 932.7 

 17 606.2 

 17 956.7 

 17 893.1 

 18 343.3 

 18 979.3 

 

 

 

 

 

 

 

NET ASSETS

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

 

 

 

 

 

 

 


Table A1.14:     Total State Sector Balance Sheet as at 30 June (continued)

 

2018 

2018 

2019 

2020 

2021 

2022 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Accumulated funds

 5 426.5 

 4 850.4 

 4 880.0 

 4 917.6 

 5 017.4 

 5 190.2 

Asset revaluation reserve

 6 287.0 

 6 384.5 

 6 703.3 

 7 043.4 

 7 392.5 

 7 749.1 

Other equity

10.0 

  10.0 

  10.0 

  10.0 

  10.0 

  10.0 

Total Equity

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET WORTH1

 11 723.5 

 11 244.9 

 11 593.3 

 11 971.0 

 12 419.8 

 12 949.3 

NET FINANCIAL WORTH2

(9 189.7)

(9 962.8)

(10 489.3)

(10 948.4)

(11 477.7)

(11 889.3)

NET FINANCIAL LIABILITIES3

 9 189.7 

 9 962.8 

 10 489.3 

 10 948.4 

 11 477.7 

 11 889.3 

NET DEBT4

  35.8 

(351.3)

  76.4 

  442.0 

  852.7 

 1 147.0 

 

 

 

 

 

 

 

Notes:

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

2.   Net Financial Worth represents 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 A1.15:     Total State Sector Cash Flow Statement

 

2017-18 

2017-18 

2018-19 

2019-20 

2020-21 

2021-22 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

 

Cash receipts from operating activities

 

 

 

 

 

 

Grants received

 3 680.8 

 3 805.0 

 3 895.1 

 3 914.8 

 4 011.2 

 4 188.4 

Taxation

 1 086.4 

 1 117.5 

 1 173.2 

 1 204.9 

 1 232.5 

 1 259.7 

Sales of goods and services

 3 449.5 

 3 639.9 

 3 796.0 

 3 821.9 

 3 874.0 

 3 985.5 

Fines and regulatory fees

  98.9 

  99.0 

  98.6 

  99.7 

  101.1 

  101.7 

Interest received

  150.4 

  148.9 

  150.5 

  140.1 

  148.8 

  160.2 

Dividend, tax and rate equivalents

  62.9 

  58.3 

  60.8 

  63.6 

  66.9 

  70.4 

Other receipts

  476.6 

  481.2 

  485.4 

  475.9 

  473.8 

  459.1 

 

 9 005.7 

 9 349.8 

 9 659.6 

 9 720.9 

 9 908.4 

 10 225.1 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(2 824.4)

(2 937.9)

(2 969.4)

(3 062.1)

(3 112.4)

(3 205.7)

Superannuation

(509.0)

(518.0)

(528.3)

(555.3)

(573.5)

(595.4)

Supplies and consumables

(3 263.8)

(3 374.8)

(3 481.8)

(3 481.2)

(3 527.7)

(3 624.6)

Borrowing costs

(174.3)

(176.9)

(195.4)

(193.2)

(206.9)

(221.7)

Grants and subsidies paid

(1 212.3)

(1 250.2)

(1 290.8)

(1 273.2)

(1 214.3)

(1 213.3)

Other payments

(330.6)

(337.9)

(363.0)

(322.8)

(321.8)

(325.4)

 

(8 314.4)

(8 595.8)

(8 828.7)

(8 887.9)

(8 956.6)

(9 186.1)

 

 

 

 

 

 

 

Net cash flows from operating activities

  691.3 

  754.0 

  831.0 

  832.9 

  951.8 

 1 039.0 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non-financial assets

 

 

 

 

 

 

Purchase of non-financial assets

(1 104.4)

(1 177.0)

(1 285.6)

(1 225.1)

(1 412.3)

(1 360.4)

Sales of non-financial assets

  33.8 

  92.3 

  30.7 

  31.3 

  51.8 

  32.2 

 

(1 070.6)

(1 084.7)

(1 254.9)

(1 193.9)