|
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. |
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.
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 |
4 091.0 |
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 |
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
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 |
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 |
11 244.9 |
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) |
(1 360.5) |
(1 328.2) |
|
|
|
|
|
|
|
|
|
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 |
679.8 |
1 278.5 |
241.0 |
532.5 |
111.1 |
(198.3) |
|
|
679.8 |
1 278.5 |
241.0 |
532.5 |
111.1 |
(198.3) |
|
|
|
|
|
|
|
|
|
Net cash flows from investing activities |
(395.3) |
166.6 |
(1 063.8) |
(680.1) |
(1 265.6) |
(1 545.3) |
Table A1.15: Total State 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 |
(352.6) |
(1 208.3) |
220.6 |
(174.8) |
317.9 |
496.6 |
|
Net cash flows from financing activities |
(352.6) |
(1 208.3) |
220.6 |
(174.8) |
317.9 |
496.6 |
|
|
|
|
|
|
|
|
|
Net increase/(decrease) in cash held |
(56.7) |
(287.7) |
(12.3) |
(22.0) |
4.1 |
(9.6) |
|
|
|
|
|
|
|
|
|
Cash at the beginning of the year |
286.9 |
372.7 |
85.0 |
72.7 |
50.8 |
54.9 |
|
Cash at the end of the period |
230.2 |
85.0 |
72.7 |
50.8 |
54.9 |
45.2 |
|
|
|
|
|
|
|
|
|
KEY FISCAL AGGREGATES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from operating activities |
691.3 |
754.0 |
831.0 |
832.9 |
951.8 |
1 039.0 |
|
Plus Net cash flows from non-financial assets |
(1 070.6) |
(1 084.7) |
(1 254.9) |
(1 193.9) |
(1 360.5) |
(1 328.2) |
|
Equals CASH SURPLUS/(DEFICIT) |
(379.3) |
(330.7) |
(423.9) |
(360.9) |
(408.6) |
(289.2) |
|
|
|
|
|
|
|
|
Table A1.16: General Government Expenses from Transactions by Purpose
|
|
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 |
|
|
|
|
|
|
|
|
|
|
General public services |
299.8 |
315.4 |
291.9 |
331.0 |
329.4 |
332.6 |
|
Public order and safety |
541.8 |
565.4 |
590.6 |
579.1 |
593.0 |
609.1 |
|
Economic affairs |
308.9 |
302.8 |
295.7 |
291.2 |
232.1 |
224.5 |
|
Environmental protection |
89.3 |
87.8 |
95.4 |
94.6 |
97.2 |
95.7 |
|
Housing and community amenities |
162.8 |
167.3 |
164.4 |
158.5 |
160.2 |
161.7 |
|
Health |
1 722.8 |
1 810.1 |
1 806.1 |
1 851.2 |
1 906.4 |
1 987.4 |
|
Recreation, culture and religion |
128.3 |
140.7 |
149.7 |
140.6 |
142.5 |
135.0 |
|
Education |
1 543.2 |
1 558.8 |
1 602.1 |
1 664.4 |
1 714.2 |
1 773.8 |
|
Social protection |
466.2 |
487.8 |
526.3 |
480.6 |
473.9 |
477.3 |
|
Transport |
270.9 |
269.5 |
262.3 |
270.6 |
280.0 |
285.3 |
|
Nominal interest on superannuation |
285.6 |
254.9 |
270.9 |
273.7 |
276.0 |
277.6 |
|
|
|
|
|
|
|
|
|
5 819.8 |
5 960.5 |
6 055.4 |
6 135.5 |
6 204.8 |
6 360.0 |
|
|
|
|
|
|
|
|
|
Table A1.16 presents General Government Expenses from Transactions classified by purpose. This is presented in accordance with the Classification of the Functions of Government - Australia. The COFOG‑A is a new classification framework which has been introduced by the Australian Bureau of Statistics from 1 July 2017. The COFOG‑A replaces the Government Purpose Classification which was presented in the 2017‑18 Budget.
The COFOG‑A 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.
For comparative purposes and to assist in the transition to the new framework, expenditure by GPC (as used for the 2017‑18 Budget) is presented in Table A1.17.
Table A1.17: General Government Expenses from Transactions by Government Purpose Classification
|
|
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 |
|
|
|
|
|
|
|
|
|
General public services |
260.2 |
211.7 |
203.6 |
199.7 |
197.3 |
|
|
Public order and safety |
541.8 |
565.4 |
590.6 |
579.1 |
593.0 |
609.1 |
|
Education |
1 543.2 |
1 558.8 |
1 602.1 |
1 664.4 |
1 714.2 |
1 773.8 |
|
Health |
1 722.8 |
1 810.1 |
1 806.1 |
1 851.2 |
1 906.4 |
1 987.4 |
|
Social security and welfare |
453.5 |
470.9 |
525.8 |
480.1 |
473.4 |
476.8 |
|
Housing and community amenities |
187.8 |
191.3 |
190.3 |
183.0 |
185.8 |
184.6 |
|
Recreation and culture |
192.6 |
204.5 |
219.7 |
211.1 |
214.5 |
207.8 |
|
Fuel and energy |
5.4 |
2.2 |
3.3 |
2.2 |
2.3 |
2.3 |
|
Agriculture, forestry, fishing and hunting |
92.0 |
108.8 |
96.8 |
95.3 |
95.7 |
95.0 |
|
Mining and mineral resources |
9.5 |
7.2 |
11.2 |
8.3 |
7.7 |
7.6 |
|
Transport and communications |
279.2 |
276.2 |
277.4 |
295.7 |
305.2 |
310.4 |
|
Other economic affairs |
193.6 |
178.0 |
187.5 |
185.9 |
126.8 |
119.5 |
|
Nominal interest on superannuation |
285.6 |
254.9 |
270.9 |
273.7 |
276.0 |
277.6 |
|
Other purposes |
102.1 |
72.2 |
62.1 |
101.9 |
104.4 |
110.7 |
|
|
|
|
|
|
|
|
|
|
5 960.5 |
6 055.4 |
6 135.5 |
6 204.8 |
6 360.0 |
|
|
|
|
|
|
|
|
|