Key Issues · The Net Operating Balance is estimated to be a deficit of $1 118.0 million for 2020‑21, with a projected improvement over the Forward Estimates period to achieve an estimated surplus of $17.2 million in 2023‑24. · The Fiscal Balance remains in deficit over the 2020‑21 Budget and Forward Estimates period, with an estimated deficit of $1 779.7 million in 2020‑21 improving to an estimated deficit of $437.9 million in 2023‑24. · Net Debt (including the impact of Leases under AASB 16) is estimated to be $1 854.8 million as at 30 June 2021 increasing to $4 380.5 million as at 30 June 2024. · The 2020‑21 Budget and Forward Estimates for key fiscal measures have been significantly affected by the COVID‑19 pandemic and the response and recovery measures that are being implemented, or are planned to be implemented, by the Government. · As a consequence of the timing of the 2020‑21 Budget, where applicable, actual outcomes for 2019‑20 have been included rather that Estimated Outcomes as has been provided in previous years. Information on variations between 2019‑20 Budget estimates and actual outcomes for 2019‑20 is provided in the Treasurer’s Annual Financial Report 2019‑20 that was recently released. · This chapter includes the Policy and Parameter Statement, which provides a reconciliation of the major movements in the Net Operating Balance and the Fiscal Balance between the Budget and Forward Estimates presented in the 2019‑20 Budget Papers and those presented in these Budget Papers. Detailed information on 2020‑21 Budget initiatives can be found in Government Services Budget Paper No 2. |
This chapter includes the General Government Sector Financial Statements for the 2020‑21 Budget and Forward Estimates period and the actual end of year results for 2019‑20. It also incorporates the Policy and Parameter Statement, which reflects changes between the Budget and Forward Estimates reported in the 2019‑20 Budget Papers and the 2020‑21 Budget Papers.
In addition, this chapter includes the Public Account Budget and Forward Estimates together with Specific Purpose Account Estimated Receipts and Expenditure for 2020‑21. These reports are prepared to meet the requirements under the Financial Management Act 2016.
The financial statements in this chapter have been prepared in accordance with the Uniform Presentation Framework (UPF). The statements present information for the 2019‑20 Budget and for the 2020‑21 Budget and Forward Estimates. Taxation information, required under the UPF, is provided in chapter 5 of this Budget Paper.
In accordance with the UPF, the final end of year results for the General Government Sector for 2020‑21 will be presented in the Treasurer’s Annual Financial Report 2020‑21, which is required to be released by no later than 31 October 2021. Updated 2020‑21 Budget and Forward Estimates will be presented in the 2020‑21 Revised Estimates Report that is required to be released by 15 February 2021.
Tables 4.1 to 4.3 detail the Income Statement, Balance Sheet and Cash Flow Statement for the General Government Sector.
|
2019‑20 |
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Revenue from transactions1 |
|
|
|
|
|
|
Grants |
3 973.3 |
3 898.7 |
4 066.1 |
4 411.7 |
4 688.6 |
4 929.1 |
Taxation |
1 215.5 |
1 271.0 |
1 220.6 |
1 297.1 |
1 338.8 |
1 375.3 |
Sales of goods and services |
416.0 |
382.8 |
433.4 |
459.2 |
468.0 |
475.4 |
Fines and regulatory fees |
103.1 |
92.9 |
102.2 |
108.1 |
109.4 |
110.8 |
Interest income |
16.8 |
9.8 |
14.9 |
15.4 |
16.8 |
11.9 |
Dividend, tax and rate equivalent income |
524.1 |
541.9 |
413.1 |
348.2 |
296.0 |
257.4 |
Other revenue |
157.9 |
216.9 |
177.9 |
172.8 |
177.0 |
175.4 |
|
6 406.7 |
6 413.9 |
6 428.1 |
6 812.4 |
7 094.6 |
7 335.2 |
|
|
|
|
|
|
|
Less Expenses from transactions |
|
|
|
|
|
|
Employee expenses2 |
2 675.1 |
2 916.4 |
3 051.7 |
3 124.2 |
3 151.3 |
3 259.6 |
Superannuation3 |
305.1 |
389.4 |
373.8 |
390.7 |
378.4 |
379.2 |
Depreciation |
329.4 |
361.1 |
388.1 |
415.3 |
430.7 |
446.2 |
Supplies and consumables4 |
1 293.8 |
1 289.1 |
1 731.8 |
1 386.3 |
1 387.0 |
1 474.7 |
Nominal superannuation interest expense3 |
271.3 |
180.1 |
161.8 |
94.5 |
94.5 |
94.7 |
Borrowing costs5 |
14.1 |
9.3 |
29.3 |
53.1 |
62.8 |
70.2 |
Grant and subsidy expenses6 |
1 461.2 |
1 537.6 |
1 771.0 |
1 597.6 |
1 544.9 |
1 565.4 |
Other expenses7 |
(0.7) |
68.5 |
38.7 |
32.2 |
31.3 |
28.0 |
|
6 349.3 |
6 751.6 |
7 546.1 |
7 093.9 |
7 080.7 |
7 318.0 |
|
|
|
|
|
|
|
Equals NET OPERATING BALANCE |
57.4 |
(337.7) |
(1 118.0) |
(281.5) |
13.9 |
17.2 |
|
|
|
|
|
|
|
Plus Other economic flows ‑ included in Operating Result |
|
|
|
|
|
|
Gain/(loss) on sale of non‑financial assets |
16.7 |
.... |
16.6 |
25.0 |
17.9 |
17.3 |
Revaluation of equity investment in PNFC and PFC sectors8 |
(227.6) |
.... |
.... |
.... |
.... |
.... |
Other gains/(losses) |
(2.0) |
56.3 |
80.9 |
16.2 |
(31.5) |
1.9 |
|
(212.9) |
56.3 |
97.5 |
41.2 |
(13.6) |
19.2 |
|
|
|
|
|
|
|
Equals Operating Result |
(155.6) |
(281.3) |
(1 020.5) |
(240.3) |
0.3 |
36.5 |
|
2019‑20 |
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Plus Other economic flows ‑ other movements in Equity |
|
|
|
|
|
|
Revaluations of non‑financial assets |
282.7 |
(62.1) |
220.2 |
280.4 |
282.0 |
317.4 |
Revaluation of equity investment in PNFC and PFC sectors8 |
.... |
(572.4) |
148.3 |
(94.3) |
(26.1) |
26.0 |
Movements in superannuation liability3 |
.... |
(43.3) |
(1 198.2) |
.... |
.... |
.... |
Other non‑owner movements in Equity |
(210.8) |
(61.2) |
.... |
.... |
.... |
.... |
|
71.9 |
(738.9) |
(829.6) |
186.1 |
255.9 |
343.3 |
|
|
|
|
|
|
|
Equals Comprehensive Result |
(83.6) |
(1 020.2) |
(1 850.1) |
(54.2) |
256.2 |
379.8 |
|
|
|
|
|
|
|
KEY FISCAL AGGREGATES |
|
|
|
|
|
|
|
|
|
|
|
|
|
NET OPERATING BALANCE |
57.4 |
(337.7) |
(1 118.0) |
(281.5) |
13.9 |
17.2 |
|
|
|
|
|
|
|
Less Net acquisition of non‑financial assets |
|
|
|
|
|
|
Purchases of non‑financial assets9 |
700.1 |
508.7 |
1 085.5 |
922.9 |
819.0 |
936.8 |
Less Sales of non‑financial assets |
65.0 |
58.4 |
35.7 |
43.1 |
36.1 |
35.5 |
Less Depreciation |
329.4 |
361.1 |
388.1 |
415.3 |
430.7 |
446.2 |
|
305.7 |
89.3 |
661.7 |
464.4 |
352.2 |
455.1 |
|
|
|
|
|
|
|
Equals FISCAL BALANCE |
(248.4) |
(426.9) |
(1 779.7) |
(745.9) |
(338.3) |
(437.9) |
|
|
|
|
|
|
|
Notes:
1. Detailed information on revenue estimates is provided in chapter 5 of this Budget Paper.
2. The increase in Employee expenses primarily reflects the implementation of the Government’s 2020‑21 Budget initiatives, the continuation of the Government’s initiatives from the 2018 election and revised expenditure estimates of Australian Government funding.
3. The change in Superannuation reflects an actuarial assessment of the defined benefit schemes and agency expenditure estimates for accumulation scheme members. Further information on the Superannuation liability is provided in chapter 7 of this Budget Paper.
4. The increase in Supplies and consumables in 2020‑21 primarily reflects once off COVID‑19 pandemic related expenditure and expenditure by the Tasmanian Health Service for pharmaceutical supplies.
5. The increase in Borrowing costs from 2020‑21 primarily reflects anticipated increases in the estimated General Government Sector cash deficit.
6. The increase in Grant and subsidy expenses in 2020‑21 primarily reflects the implementation of the Government’s 2020‑21 Budget initiatives, the continuation of the Government’s 2018 election commitments and unexpended 2019‑20 funding reallocated to 2020‑21.
7. The increase in Other expenses in 2020‑21 primarily reflects the Government’s decision to remove agency efficiency dividends from 2020‑21 in response to the COVID‑19 pandemic.
8. Revaluation of equity investment in PNFC and PFC sectors reflects changes in the net assets of the Public Non‑Financial Corporations and Public Financial Corporation sectors. Refer to appendix 1 of this Budget Paper for more information on the PNFC and PFC sectors.
9. Detailed information on Infrastructure Investment is provided in chapter 6 of this Budget Paper.
|
2020 |
2020 |
2021 |
2022 |
2023 |
2024 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Financial assets |
|
|
|
|
|
|
Cash and deposits1 |
926.6 |
1 180.5 |
1 160.4 |
1 138.6 |
913.3 |
911.1 |
Investments2 |
158.8 |
218.3 |
420.3 |
457.1 |
252.7 |
241.3 |
Equity investments in PNFC and PFC sectors3 |
5 451.5 |
4 556.8 |
4 721.8 |
4 759.4 |
5 082.0 |
5 190.1 |
Other equity investments |
71.5 |
69.3 |
124.8 |
180.3 |
245.8 |
251.3 |
Receivables |
307.8 |
331.3 |
326.5 |
323.9 |
321.1 |
318.4 |
Other financial assets |
822.9 |
492.4 |
585.3 |
620.8 |
631.3 |
679.1 |
|
7 739.1 |
6 848.7 |
7 339.1 |
7 480.1 |
7 446.1 |
7 591.2 |
|
|
|
|
|
|
|
Non‑financial assets |
|
|
|
|
|
|
Land and buildings4 |
6 953.3 |
7 150.2 |
7 470.8 |
7 737.3 |
7 839.7 |
7 980.3 |
Infrastructure5 |
6 115.9 |
5 833.8 |
6 405.0 |
6 922.6 |
7 482.8 |
8 157.3 |
Plant and equipment |
270.9 |
270.3 |
291.9 |
289.9 |
291.0 |
290.2 |
Heritage and cultural assets |
486.5 |
439.7 |
452.0 |
464.3 |
476.6 |
488.9 |
Investment property |
4.1 |
3.0 |
3.3 |
3.7 |
4.0 |
4.3 |
Intangibles |
51.4 |
63.1 |
71.9 |
97.0 |
116.2 |
121.4 |
Assets held for sale |
6.6 |
13.6 |
16.7 |
15.0 |
15.7 |
14.6 |
Lease ‑ right‑of‑use‑assets |
333.4 |
348.4 |
412.1 |
375.6 |
344.7 |
316.9 |
Other non‑financial assets |
41.6 |
55.4 |
48.2 |
48.0 |
47.8 |
47.6 |
|
14 263.7 |
14 177.5 |
15 171.9 |
15 953.3 |
16 618.4 |
17 421.5 |
|
|
|
|
|
|
|
Total Assets |
22 002.7 |
21 026.1 |
22 510.9 |
23 433.4 |
24 064.5 |
25 012.7 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Borrowings6 |
1 035.0 |
867.8 |
3 013.5 |
4 061.9 |
4 535.9 |
5 201.2 |
Lease liabilities |
334.9 |
355.5 |
422.1 |
388.2 |
359.1 |
331.7 |
Superannuation7 |
7 007.8 |
10 280.3 |
11 481.0 |
11 426.9 |
11 350.1 |
11 252.3 |
Employee entitlements |
665.2 |
775.2 |
800.0 |
818.6 |
837.3 |
856.4 |
Payables |
164.7 |
194.3 |
191.7 |
194.2 |
195.9 |
197.5 |
Other liabilities |
464.4 |
690.2 |
590.0 |
585.2 |
571.5 |
579.1 |
Total Liabilities |
9 671.9 |
13 163.3 |
16 498.3 |
17 475.0 |
17 849.8 |
18 418.2 |
|
|
|
|
|
|
|
Net Assets |
12 330.8 |
7 862.8 |
6 012.7 |
5 958.4 |
6 214.7 |
6 594.5 |
|
2020 |
2020 |
2021 |
2022 |
2023 |
2024 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Accumulated funds |
5 830.6 |
3 769.1 |
1 550.5 |
1 310.2 |
1 310.4 |
1 346.9 |
Asset revaluation reserve |
6 500.2 |
5 076.1 |
5 296.3 |
5 576.7 |
5 858.7 |
6 176.1 |
Other revaluation reserves |
.... |
(982.4) |
(834.1) |
(928.4) |
(954.5) |
(928.5) |
Total Equity |
12 330.8 |
7 862.8 |
6 012.7 |
5 958.4 |
6 214.7 |
6 594.5 |
|
|
|
|
|
|
|
KEY FISCAL AGGREGATES |
|
|
|
|
|
|
|
|
|
|
|
|
|
NET WORTH8 |
12 330.8 |
7 862.8 |
6 012.7 |
5 958.4 |
6 214.7 |
6 594.5 |
|
|
|
|
|
|
|
NET FINANCIAL WORTH9 |
(1 932.9) |
(6 314.7) |
(9 159.2) |
(9 994.9) |
(10 403.7) |
(10 827.0) |
|
|
|
|
|
|
|
NET FINANCIAL LIABILITIES10 |
7 384.4 |
10 871.4 |
13 881.0 |
14 754.2 |
15 485.7 |
16 017.2 |
|
|
|
|
|
|
|
NET DEBT11 |
284.5 |
(175.5) |
1 854.8 |
2 854.4 |
3 729.1 |
4 380.5 |
|
|
|
|
|
|
|
GFS NET DEBT12 |
(50.4) |
(531.1) |
1 432.8 |
2 466.2 |
3 370.0 |
4 048.8 |
|
|
|
|
|
|
|
Notes:
1. The decrease in Cash and deposits in 2021 and over the Forward Estimates period primarily reflects the variation in the balance of cash held in agency Specific Purpose Accounts.
2. Variations from 2020‑21 primarily reflect loan advances by the Department of State Growth together with funds invested with the Tasmanian Public Finance Corporation for the TT‑Line Vessel Replacement Fund.
3. The increase in Equity investments in PNFC and PFC sectors in 2020‑21 is primarily the result of an increase in net assets held by electricity entities. This increase is partly offset by a decrease due to the Mersey Community Hospital Dividend of $86.6 million to be paid by the PFC Sector in 2020‑21.
4. The increase in Land and buildings reflects the Government’s infrastructure investment program including increased capital funding for schools, housing, prison infrastructure and hospital redevelopment projects. Further information on Infrastructure Investment is provided in chapter 6 of this Budget paper.
5. The increase in Infrastructure reflects the implementation of the Government’s infrastructure program. Further information on Infrastructure Investment is provided in chapter 6 of this Budget Paper.
6. The estimated borrowings of $3 billion as at 30 June 2021 includes borrowings undertaken to finance the estimated General Government Sector cash deficit and to ensure Specific Purpose Accounts and Agency Trust Accounts are cash backed.
7. Increase in Superannuation as at 30 June 2021 primarily reflects a decrease in the discount rate used in the latest actuarial assessment of the liability related to the defined benefit schemes. Further information on the Superannuation liability is provided in chapter 7 of this Budget Paper.
8. Net Worth represents Total Assets less Total Liabilities.
9. Net Financial Worth represents Financial assets less Total Liabilities.
10. Net Financial Liabilities represents Total Liabilities less Financial assets, excluding Equity investment in PNFC and PFC sectors.
11. Net Debt represents Borrowings plus Lease liabilities, less the sum of Cash and deposits and Investments. This measure incorporates the impact of recognising Lease liabilities on the Balance Sheet.
12. GFS Net Debt represents Borrowings less the sum of Cash and deposits and Investments. This is equivalent to Net Debt based on the Australian Bureau of Statistics Government Finance Statistics reporting framework, and excludes the impact of Lease liabilities.
10.
|
2019‑20 |
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
Cash received from operating activities |
|
|
|
|
|
|
Grants received |
3 838.7 |
3 893.6 |
3 966.0 |
4 386.3 |
4 654.1 |
4 918.2 |
Taxation |
1 213.1 |
1 276.4 |
1 218.7 |
1 294.4 |
1 336.2 |
1 372.7 |
Sales of goods and services |
414.7 |
368.9 |
432.0 |
457.5 |
466.8 |
473.2 |
Fines and regulatory fees |
103.0 |
99.5 |
102.2 |
108.0 |
109.4 |
110.8 |
Interest received |
17.2 |
11.3 |
14.0 |
15.7 |
16.0 |
11.9 |
Dividend, tax and rate equivalents |
511.5 |
595.5 |
414.4 |
344.4 |
286.2 |
246.9 |
Other receipts |
331.5 |
461.7 |
404.3 |
404.5 |
408.5 |
408.9 |
|
6 429.8 |
6 706.9 |
6 551.6 |
7 010.8 |
7 277.3 |
7 542.5 |
|
|
|
|
|
|
|
Cash payments for operating activities |
|
|
|
|
|
|
Employee entitlements |
(2 688.5) |
(2 864.6) |
(3 023.1) |
(3 104.5) |
(3 131.4) |
(3 239.5) |
Superannuation |
(509.7) |
(508.9) |
(528.5) |
(538.0) |
(548.2) |
(570.2) |
Supplies and consumables |
(1 296.8) |
(1 377.9) |
(1 737.6) |
(1 377.6) |
(1 378.4) |
(1 468.0) |
Borrowing costs |
(14.3) |
(6.9) |
(29.4) |
(53.1) |
(62.6) |
(70.3) |
Grants and subsidies paid |
(1 461.2) |
(1 509.8) |
(1 770.9) |
(1 597.5) |
(1 544.8) |
(1 565.3) |
Other payments |
(172.7) |
(259.9) |
(267.5) |
(266.5) |
(265.2) |
(264.1) |
|
(6 143.2) |
(6 528.0) |
(7 357.0) |
(6 937.3) |
(6 930.6) |
(7 177.5) |
|
|
|
|
|
|
|
Net cash flows from operating activities |
286.7 |
178.8 |
(805.3) |
73.6 |
346.7 |
365.1 |
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
Net cash flows from non‑financial assets |
|
|
|
|
|
|
Purchases of non‑financial assets |
(688.4) |
(508.7) |
(1 073.2) |
(910.7) |
(807.0) |
(924.9) |
Sales of non‑financial assets |
61.2 |
58.4 |
32.7 |
39.4 |
32.3 |
31.7 |
|
(627.3) |
(450.4) |
(1 040.5) |
(871.4) |
(774.8) |
(893.2) |
|
|
|
|
|
|
|
Net cash flows from financial assets (policy purposes) |
|
|
|
|
|
|
Equity injections |
(116.9) |
(109.2) |
(72.2) |
(187.4) |
(414.3) |
(87.6) |
Net advances paid |
4.1 |
(56.4) |
(81.7) |
(38.2) |
(23.6) |
(13.8) |
Equity disposals |
3.6 |
3.0 |
3.6 |
3.6 |
3.6 |
3.6 |
|
(109.2) |
(162.7) |
(150.3) |
(222.0) |
(434.3) |
(97.8) |
|
2019‑20 |
2019‑20 |
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
|
Forward |
Forward |
Forward |
|
Budget |
Actual |
Budget |
Estimate |
Estimate |
Estimate |
|
$m |
$m |
$m |
$m |
$m |
$m |
|
|
|
|
|
|
|
Net cash flows from financial assets (liquidity management purposes) |
|
|
|
|
|
|
Net (purchase)/sale of investments |
(54.9) |
(38.5) |
(121.6) |
(2.2) |
206.3 |
.... |
|
(54.9) |
(38.5) |
(121.6) |
(2.2) |
206.3 |
.... |
|
|
|
|
|
|
|
Net cash flows from investing activities |
(791.4) |
(651.5) |
(1 312.3) |
(1 095.5) |
(1 002.7) |
(991.0) |
|
|
|
|
|
|
|
Net cash flows from financing activities |
|
|
|
|
|
|
Net borrowing |
332.8 |
400.5 |
2 097.6 |
1 000.2 |
430.7 |
623.7 |
Other Financing |
.... |
6.4 |
.... |
.... |
.... |
.... |
|
332.8 |
406.9 |
2 097.6 |
1 000.2 |
430.7 |
623.7 |
|
|
|
|
|
|
|
Net increase/(decrease) in cash held |
(171.9) |
(65.8) |
(20.1) |
(21.8) |
(225.4) |
(2.2) |
|
|
|
|
|
|
|
Cash at the beginning of the year |
1 098.5 |
1 246.3 |
1 180.5 |
1 160.4 |
1 138.6 |
913.3 |
Cash at the end of the year |
926.6 |
1 180.5 |
1 160.4 |
1 138.6 |
913.3 |
911.1 |
|
|
|
|
|
|
|
KEY FISCAL AGGREGATES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from operating activities |
286.7 |
178.8 |
(805.3) |
73.6 |
346.7 |
365.1 |
Plus Net cash flows from non‑financial assets |
(627.3) |
(450.4) |
(1 040.5) |
(871.4) |
(774.8) |
(893.2) |
Equals CASH SURPLUS/(DEFICIT) |
(340.6) |
(271.5) |
(1 845.8) |
(797.8) |
(428.1) |
(528.1) |
|
|
|
|
|
|
|
The Policy and Parameter Statement is a reconciliation of the major changes in the Net Operating Balance and the Fiscal Balance between two points in time.
The changes in the PPS are classified as revenue, expense or net acquisition of non‑financial assets and then further categorised as a policy or parameter change. The classification of a variation as a policy or parameter change is a matter of judgement and it is recognised that there may be some instances where part of a Government initiative may have both policy and parameter components. In exercising judgement, Treasury aims to ensure that Government decisions are made transparent.
For the purpose of the PPS, a policy variation reflects a specific decision by the Government that has an impact on the Budget and Forward Estimates and is related to a new policy or represents a change in the Government’s existing policy position since the previous Budget. A decision to change a Budget or Forward Estimate item, which is consistent with an existing policy, is not a policy decision.
A parameter variation reflects changes to the Budget and Forward Estimates due to the economic environment, the agency operating environment or the timing of a transaction.
Parameter variations will reflect the impact of changes in taxes, grants or other income that do not arise because of a Government decision and demand and cost variations in agency service delivery, including the provision of indexation. Variations resulting from the rollover of a new Forward Estimate year and changes in accounting policies, such as a change in an agency depreciation policy or the impact on estimates of a change in an Australian Accounting Standard are classified as parameter variations.
Table 4.4 provides a summary of the policy and parameter changes detailed in Table 4.5 that have impacted on the formulation of the 2020‑21 Budget since the 2019‑20 Budget.
In response to the COVID‑19 pandemic the Government has announced a wide range of important policy decisions that are reflected in the Budget estimates presented in the 2020‑21 Budget Papers. While action has been taken to seek to capture these decisions as policy decisions, it is possible that some changes to revenue or expenditure resulting from these decisions may not be fully captured from a policy perspective and may instead be reflected in parameter changes. Information on the presentation of COVID‑19 measures in the Budget Papers is provided in chapter 1 of Government Services Budget Paper 2.
As a result of the timing of the 2020‑21 Budget, actual outcomes for 2019‑20 have recently been published in the Treasurer’s Annual Financial Report 2019‑20. Information on variations between budgeted and actuals information is provided in that Report and is not therefore provided in the following Policy and Parameter Statement.
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Forward Estimates (Net Operating Balance) as per the 2019‑20 Budget (A) |
|
85.1 |
174.5 |
250.6 |
.... |
Forward Estimates (Fiscal Balance) as per the 2019‑20 Budget (B) |
|
(225.7) |
(19.8) |
3.0 |
.... |
|
|
|
|
|
|
REVENUE |
|
|
|
|
|
Policy Decisions |
|
(41.2) |
13.9 |
14.3 |
14.6 |
Parameter Adjustments |
|
71.6 |
228.5 |
280.6 |
.... |
TOTAL REVENUE ADJUSTMENTS (C) |
|
30.5 |
242.4 |
294.8 |
.... |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Policy Decisions |
|
772.5 |
558.8 |
464.2 |
303.7 |
Parameter Adjustments |
|
461.1 |
139.6 |
67.4 |
.... |
TOTAL EXPENSE ADJUSTMENTS (D) |
|
1 233.5 |
698.4 |
531.6 |
.... |
|
|
|
|
|
|
NET OPERATING BALANCE (A+C‑D) |
|
(1 118.0) |
(281.5) |
13.9 |
17.2 |
|
|
|
|
|
|
Less NET ACQUISITION OF NON‑FINANCIAL ASSETS |
|
|
|
|
|
Purchases of non‑financial assets |
|
|
|
|
|
Policy Decisions |
|
133.4 |
123.0 |
33.9 |
11.1 |
Parameter Adjustments |
|
233.5 |
185.9 |
108.1 |
.... |
|
|
366.9 |
309.0 |
142.0 |
.... |
|
|
|
|
|
|
Less Sale of non‑financial assets |
|
|
|
|
|
Policy Decisions |
|
.... |
.... |
.... |
.... |
Parameter Adjustments |
|
(20.1) |
7.7 |
0.7 |
.... |
|
|
(20.1) |
7.7 |
0.7 |
.... |
|
|
|
|
|
|
Less Depreciation ‑ Total Parameter Adjustments |
|
36.1 |
31.2 |
36.7 |
.... |
TOTAL NET ACQUISITION OF NON‑FINANCIAL ASSETS ADJUSTMENTS (E) |
|
350.9 |
270.1 |
104.6 |
.... |
|
|
|
|
|
|
FISCAL BALANCE (B+C‑D‑E) |
|
(1 779.7) |
(745.9) |
(338.3) |
(437.9) |
|
|
|
|
|
|
Note:
1. Parameter adjustments for 2023‑24 are not reflected in the Table as the 2023‑24 Forward Estimate was not published in the 2019‑20 Budget. However, policy adjustments are reflected to show their full impact on the Budget and Forward Estimates.
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Forward Estimates (Net Operating Balance) as per the 2019‑20 Budget (A) |
|
85.1 |
174.5 |
250.6 |
.... |
Forward Estimates (Fiscal Balance) as per the 2019‑20 Budget (B) |
|
(225.7) |
(19.8) |
3.0 |
.... |
|
|
|
|
|
|
Revenue from transactions |
|
|
|
|
|
Policy Decisions |
|
|
|
|
|
Agency Revenue2 |
|
|
|
|
|
Fisheries Industry Support |
|
(0.8) |
.... |
.... |
.... |
Liquor Licence Fees Reductions and Waivers |
|
(0.3) |
.... |
.... |
.... |
Residential Rent Relief for Social Housing |
|
(0.3) |
.... |
.... |
.... |
Taxi Licence Fee Waiver |
|
(0.2) |
.... |
.... |
.... |
|
|
(1.6) |
.... |
.... |
.... |
Taxation |
|
|
|
|
|
Annual Wagering Levy |
|
1.5 |
1.6 |
1.6 |
1.6 |
Casino Tax and Licence Fees3 |
|
(3.6) |
.... |
.... |
.... |
Land Tax4 |
|
(32.3) |
.... |
.... |
.... |
Motor Tax5 |
|
(0.6) |
.... |
.... |
.... |
Payroll Tax6 |
|
(16.3) |
.... |
.... |
.... |
Point of Consumption Wagering Tax |
|
12.0 |
12.3 |
12.7 |
13.0 |
Vehicle Registration Fees7 |
|
(0.3) |
.... |
.... |
.... |
|
|
(39.6) |
13.9 |
14.3 |
14.6 |
|
|
|
|
|
|
Total Policy Decisions |
|
(41.2) |
13.9 |
14.3 |
14.6 |
|
|
|
|
|
|
Parameter Adjustments |
|
|
|
|
|
Taxation |
|
|
|
|
|
Annual Wagering Levy |
|
.... |
(0.1) |
(0.1) |
.... |
Casino Tax and Licence Fees |
|
(1.3) |
(0.3) |
(0.7) |
.... |
Duties |
|
21.6 |
18.3 |
31.3 |
.... |
Fire Service Levies |
|
(0.4) |
(0.5) |
(0.7) |
.... |
Guarantee Fees |
|
(1.6) |
(2.7) |
(0.6) |
.... |
Land Tax |
|
25.7 |
22.9 |
23.9 |
.... |
Lottery Tax |
|
4.4 |
4.5 |
4.6 |
.... |
Motor Tax |
|
(5.7) |
(3.7) |
(5.1) |
.... |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Taxation (continued) |
|
|
|
|
|
Motor Vehicle Fire Levy |
|
(0.5) |
0.1 |
0.3 |
.... |
Payroll Tax |
|
(23.4) |
(29.9) |
(33.6) |
.... |
Totalizator Wagering Levy |
|
(7.8) |
(8.0) |
(8.2) |
.... |
Vehicle Registration Fees |
|
(2.3) |
(1.2) |
(2.2) |
.... |
Total Taxation |
|
8.5 |
(0.5) |
8.9 |
.... |
|
|
|
|
|
|
Dividend, Tax and Rate Equivalent Income |
|
|
|
|
|
Dividend income |
|
|
|
|
|
Aurora Energy Pty Ltd |
|
(14.9) |
(14.9) |
(8.0) |
.... |
Hydro Tasmania |
|
40.0 |
46.5 |
(8.8) |
.... |
Motor Accidents Insurance Board |
|
(3.2) |
(2.4) |
(2.7) |
.... |
Sustainable Timber Tasmania |
|
2.0 |
.... |
.... |
.... |
Tasmanian Networks Pty Ltd |
|
12.7 |
(14.8) |
(5.6) |
.... |
Tasmanian Ports Corporation Pty Ltd |
|
(7.4) |
(14.4) |
(6.4) |
.... |
Tasmanian Public Finance Corporation |
|
1.1 |
(2.1) |
3.4 |
.... |
TT‑Line Company Pty Ltd |
|
2.8 |
(12.6) |
9.6 |
.... |
|
|
33.2 |
(14.6) |
(18.6) |
.... |
Income tax equivalents |
|
|
|
|
|
Aurora Energy Pty Ltd |
|
(7.1) |
(2.6) |
(0.1) |
.... |
Hydro Tasmania |
|
22.5 |
(1.1) |
(18.1) |
.... |
Motor Accidents Insurance Board |
|
5.6 |
1.6 |
2.5 |
.... |
Tasmanian Networks Pty Ltd |
|
(8.4) |
(6.4) |
(6.9) |
.... |
Tasmanian Ports Corporation Pty Ltd |
|
(7.2) |
(3.2) |
(1.0) |
.... |
Tasmanian Public Finance Corporation |
|
(0.9) |
1.5 |
0.3 |
.... |
TT‑Line Company Pty Ltd |
|
.... |
7.2 |
0.8 |
.... |
|
|
4.5 |
(2.9) |
(22.5) |
.... |
Rates equivalent payments |
|
|
|
|
|
Hydro Tasmania |
|
0.1 |
0.1 |
0.1 |
.... |
|
|
0.1 |
0.1 |
0.1 |
.... |
|
|
|
|
|
|
Total Dividend, tax and rate equivalent income |
|
37.7 |
(17.6) |
(41.1) |
.... |
|
|
|
|
|
|
Interest income |
|
(1.7) |
(2.7) |
(6.3) |
.... |
|
|
|
|
|
|
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Australian Government Grants |
|
|
|
|
|
General Purpose Payments |
|
|
|
|
|
GST Revenue |
|
(347.0) |
(18.5) |
22.1 |
.... |
|
|
(347.0) |
(18.5) |
22.1 |
.... |
National Partnership Payments |
|
|
|
|
|
Community Services (including Disability) |
|
1.6 |
2.1 |
(0.8) |
.... |
Education |
|
6.6 |
6.9 |
0.2 |
.... |
Environment |
|
(0.8) |
(27.0) |
35.0 |
.... |
Health |
|
150.2 |
(0.4) |
2.0 |
.... |
Housing |
|
13.5 |
13.5 |
.... |
.... |
Infrastructure |
|
79.3 |
93.5 |
106.0 |
.... |
Natural Disaster Relief and Recovery Arrangements/Disaster Recovery Funding Arrangements |
|
16.6 |
5.0 |
2.9 |
.... |
Other Services |
|
(24.0) |
15.3 |
8.4 |
.... |
Skills and Workforce Development |
|
12.7 |
2.7 |
(4.7) |
.... |
|
|
255.8 |
111.6 |
149.0 |
.... |
Specific Purpose Payments |
|
|
|
|
|
National Health Reform |
|
51.7 |
58.9 |
34.9 |
.... |
National Housing and Homelessness |
|
0.1 |
0.1 |
0.2 |
.... |
Quality Schools, Quality Outcomes |
|
20.0 |
27.7 |
35.1 |
.... |
|
|
71.7 |
86.8 |
70.2 |
.... |
|
|
|
|
|
|
Other Australian Government Grants |
|
10.2 |
11.6 |
11.7 |
.... |
|
|
|
|
|
|
Total Australian Government Grants |
|
(9.3) |
191.5 |
253.1 |
.... |
|
|
|
|
|
|
Agency Revenue |
|
|
|
|
|
Communities Tasmania8 |
|
6.2 |
1.1 |
1.6 |
.... |
Education |
|
(0.9) |
1.1 |
4.6 |
.... |
Finance‑General |
|
2.7 |
2.5 |
3.5 |
.... |
Health9 |
|
42.8 |
44.4 |
47.0 |
.... |
Inland Fisheries Service |
|
(0.4) |
(0.2) |
(0.2) |
.... |
Justice |
|
0.8 |
1.6 |
1.7 |
.... |
Marine and Safety Tasmania |
|
(0.3) |
0.3 |
0.1 |
.... |
Premier and Cabinet |
|
(1.2) |
(1.2) |
(0.8) |
.... |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Agency Revenue (continued) |
|
|
|
|
|
Primary Industries, Parks, Water and Environment |
|
(13.5) |
1.7 |
1.7 |
.... |
Royal Tasmanian Botanical Gardens |
|
(0.7) |
(0.7) |
(0.6) |
.... |
State Growth10 |
|
8.4 |
10.1 |
9.0 |
.... |
Tasmanian Audit Office |
|
(0.2) |
(0.3) |
(0.3) |
.... |
TasTAFE |
|
(5.8) |
(1.8) |
(0.3) |
.... |
Tourism Tasmania |
|
0.1 |
0.1 |
0.1 |
.... |
Treasury and Finance |
|
(1.7) |
(1.0) |
(1.2) |
.... |
Total Agency Revenue |
|
36.4 |
57.8 |
66.0 |
.... |
|
|
|
|
|
|
Total Parameter Adjustments |
|
71.6 |
228.5 |
280.6 |
.... |
|
|
|
|
|
|
TOTAL REVENUE FROM TRANSACTIONS ADJUSTMENTS (C) |
|
30.5 |
242.4 |
294.8 |
.... |
|
|
|
|
|
|
Expenses from transactions |
|
|
|
|
|
Policy Decisions |
|
|
|
|
|
Agency Expenditure |
|
|
|
|
|
Brand Tasmania |
|
|
|
|
|
Tasmanian Showcase |
|
0.2 |
0.2 |
0.2 |
0.2 |
|
|
0.2 |
0.2 |
0.2 |
0.2 |
Communities Tasmania |
|
|
|
|
|
AFL Tasmania |
|
0.5 |
0.5 |
0.5 |
0.5 |
Basketball Tasmania |
|
0.3 |
0.3 |
0.3 |
0.3 |
Burnie Youth Foyer |
|
.... |
.... |
0.3 |
0.3 |
Closing the Gap including Aboriginal Affairs Reset11 |
|
0.3 |
0.3 |
0.3 |
0.3 |
Commonwealth‑State Housing Agreement Debt Waiver12 |
|
8.9 |
9.9 |
14.4 |
14.4 |
COVID‑19 Response and Recovery |
|
54.6 |
44.9 |
35.0 |
35.0 |
Cricket Tasmania |
|
0.3 |
0.3 |
0.3 |
0.3 |
Football Tasmania |
|
0.2 |
0.2 |
.... |
.... |
Hobart Youth Foyer |
|
.... |
.... |
0.3 |
0.3 |
Launceston Youth at Risk |
|
.... |
0.5 |
0.9 |
0.9 |
Loaves and Fishes Emergency Food Relief |
|
0.2 |
.... |
.... |
.... |
Magnolia House Expansion |
|
.... |
.... |
0.3 |
0.3 |
Out of Home Care Demand Growth |
|
18.8 |
14.8 |
10.8 |
10.8 |
Silverdome Operating Costs |
|
0.5 |
0.5 |
0.5 |
0.5 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Communities Tasmania (continued) |
|
|
|
|
|
Southern Men's Supported Accommodation |
|
0.6 |
0.1 |
0.1 |
0.1 |
Sports Facilities Strategy |
|
0.3 |
.... |
.... |
.... |
Supporting Industry Pipelines for Women |
|
0.2 |
0.2 |
.... |
.... |
Tasmania's Multicultural Policy and Action Plan 2019‑2022 |
|
0.4 |
0.4 |
.... |
.... |
Thyne House Expansion |
|
.... |
.... |
0.3 |
0.3 |
Ticket to Play |
|
1.0 |
1.0 |
1.0 |
1.0 |
Volunteering Tasmania |
|
0.1 |
0.2 |
0.1 |
.... |
|
|
87.0 |
74.0 |
65.4 |
65.3 |
Education |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
14.0 |
3.3 |
.... |
.... |
Libraries ‑ Preservation of the State Audio and Visual Collection |
|
0.6 |
0.2 |
0.2 |
0.2 |
Six New Child and Family Learning Centres Operational Costs |
|
(0.6) |
(0.2) |
1.0 |
1.4 |
|
|
14.0 |
3.2 |
1.2 |
1.5 |
Finance‑General |
|
|
|
|
|
Removal of Agency Efficiency Dividends13 |
|
100.0 |
150.0 |
150.0 |
.... |
Bushfire Cost Provision |
|
9.8 |
9.8 |
9.8 |
9.8 |
COVID‑19 Response and Recovery |
|
151.1 |
20.2 |
4.0 |
1.4 |
First Home Owners Grant Extension |
|
2.4 |
9.7 |
7.3 |
.... |
PAHSMA Water and Sewerage / TasWater Feasibility Study14 |
|
0.5 |
.... |
.... |
.... |
Payment to TasRacing ‑ Industry's Share of Point of Consumption Wagering Tax15 |
|
2.5 |
4.7 |
4.9 |
5.1 |
TasRacing Interest Free Loan16 |
|
.... |
.... |
.... |
.... |
Tasmanian Government Radio Network |
|
.... |
.... |
19.1 |
23.6 |
Transfer of Health Demand Provision to Health17 |
|
(10.0) |
.... |
.... |
.... |
|
|
256.3 |
194.4 |
195.1 |
39.8 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Health |
|
|
|
|
|
Additional THS Funding |
|
140.0 |
150.0 |
150.0 |
150.0 |
Child and Adolescent Mental Health Service Recommendations |
|
1.5 |
2.5 |
.... |
.... |
COVID‑19 Response and Recovery |
|
70.2 |
25.3 |
.... |
.... |
Demand and Beds ‑ Major Hospitals |
|
18.0 |
18.0 |
.... |
.... |
Mental Health Integration and Reform |
|
1.2 |
2.9 |
.... |
.... |
Palliative Care Tasmania |
|
0.5 |
0.5 |
.... |
.... |
Reform Agenda for the Alcohol and Drug Sector in Tasmania |
|
1.2 |
3.7 |
.... |
.... |
Transfer of Health Demand Provision17 |
|
10.0 |
.... |
.... |
.... |
|
|
242.6 |
202.9 |
150.0 |
150.0 |
Justice |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
7.1 |
.... |
.... |
.... |
Crown Law Legal Risk Management |
|
0.6 |
0.6 |
0.6 |
0.6 |
Legal Assistance Sector Continuation of Funding |
|
0.6 |
0.6 |
0.6 |
0.6 |
Metro Plan |
|
0.1 |
.... |
.... |
.... |
Real Time Fuel Price Monitoring |
|
0.1 |
0.1 |
0.1 |
0.1 |
Regional Land Use Review |
|
0.4 |
0.1 |
.... |
.... |
Serious Cases Fund ‑ Complex Criminal Trials |
|
0.3 |
0.5 |
0.8 |
0.8 |
Southern Remand Centre ‑ Operational Funding |
|
0.9 |
5.1 |
6.8 |
6.9 |
Statewide Forensic Pathology Services |
|
0.2 |
0.2 |
0.2 |
0.2 |
Tasmania Prison Service ‑ Increasing Demand and Cost Pressures |
|
3.5 |
3.5 |
3.5 |
3.5 |
|
|
13.6 |
10.7 |
12.5 |
12.5 |
Legislature‑General |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
0.4 |
.... |
.... |
.... |
Legislative Council Regional Office Rent |
|
0.2 |
0.2 |
0.2 |
0.2 |
|
|
0.5 |
0.2 |
0.2 |
0.2 |
Office of the Director of Public Prosecutions |
|
|
|
|
|
DPP ‑ Additional Funding |
|
0.8 |
0.8 |
0.8 |
0.8 |
|
|
0.8 |
0.8 |
0.8 |
0.8 |
Office of the Governor |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
0.1 |
.... |
.... |
.... |
Office of the Governor ‑ Operating Costs |
|
0.3 |
0.3 |
0.3 |
0.3 |
|
|
0.4 |
0.3 |
0.3 |
0.3 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Office of the Ombudsman |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
0.1 |
.... |
.... |
.... |
|
|
0.1 |
.... |
.... |
.... |
Police, Fire and Emergency Management |
|
|
|
|
|
Bushfires ‑ New Act Creation |
|
0.1 |
.... |
.... |
.... |
Bushfires Fuel Reduction Activities ‑ Private Landholders |
|
0.3 |
.... |
.... |
.... |
COVID‑19 Response and Recovery |
|
3.7 |
.... |
.... |
.... |
COVID‑19 Response and State Security |
|
1.9 |
1.9 |
2.3 |
2.8 |
Emergency Alert |
|
1.4 |
0.4 |
0.5 |
0.4 |
Fuel Reduction Teams |
|
2.3 |
2.3 |
2.3 |
2.3 |
SES Community Protection Planning for Flood and Storm Hazard |
|
0.2 |
0.5 |
0.5 |
0.5 |
State Fire Commission Support |
|
4.0 |
4.0 |
.... |
.... |
Triple Zero |
|
1.3 |
1.3 |
1.3 |
1.3 |
Volunteer Mental Health |
|
0.3 |
.... |
.... |
.... |
|
|
15.4 |
10.4 |
7.0 |
7.4 |
Premier and Cabinet |
|
|
|
|
|
Brand Tasmania Corporate Support |
|
0.2 |
0.2 |
0.2 |
0.2 |
Centre for Review and Evaluation |
|
1.8 |
0.4 |
.... |
.... |
COVID‑19 Response and Recovery |
|
2.0 |
2.2 |
.... |
.... |
Climate Change Policy Review |
|
0.3 |
.... |
.... |
.... |
Cyber Security |
|
0.2 |
0.6 |
0.7 |
0.7 |
Electric Vehicle Target for the Tasmanian Government Fleet |
|
0.1 |
1.1 |
1.1 |
.... |
Emissions Reduction Loan Scheme |
|
0.1 |
0.4 |
0.4 |
0.4 |
Greening Australia ‑ Youth Climate Leaders Program |
|
0.1 |
.... |
.... |
.... |
Inter‑Governmental Partnerships |
|
0.6 |
0.8 |
0.8 |
0.8 |
Local Government Legislation Review |
|
0.3 |
.... |
.... |
.... |
Preparing for Emergency Events and Emerging Security Threats |
|
0.5 |
0.5 |
0.5 |
0.5 |
Re‑shaping Tasmanian Service |
|
0.5 |
0.5 |
0.5 |
0.5 |
Tasmanian State Service Aboriginal Employment Strategy and Youth Employment |
|
0.1 |
0.3 |
0.3 |
.... |
|
|
6.6 |
6.9 |
4.4 |
3.0 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Primary Industries, Parks, Water and Environment |
|
|
|
|
|
Analytical Services Tasmania |
|
1.5 |
1.5 |
.... |
.... |
Bushfires ‑ Winch Insertion |
|
0.5 |
0.3 |
0.3 |
0.3 |
COVID‑19 Response and Recovery |
|
18.0 |
2.3 |
.... |
.... |
Dogs Home of Tasmania |
|
0.2 |
.... |
.... |
.... |
Environment and Parks Commitments |
|
0.7 |
0.8 |
0.3 |
0.3 |
Land Titles Office Additional Resources |
|
0.3 |
0.3 |
0.3 |
0.3 |
Salmon Growth |
|
0.3 |
.... |
.... |
.... |
Supporting Regulatory Approvals and Permitting |
|
0.6 |
0.6 |
0.6 |
0.6 |
Ten Lives Cat Centre |
|
0.2 |
.... |
.... |
.... |
Waste Action Plan Implementation |
|
1.5 |
1.5 |
.... |
.... |
Waste Action Plan ‑ State Contribution to Recycling Infrastructure |
|
1.5 |
2.5 |
1.0 |
0.5 |
|
|
25.2 |
9.8 |
2.5 |
2.0 |
State Growth |
|
|
|
|
|
Additional Screen Production Investment Funding |
|
0.3 |
0.3 |
.... |
.... |
Adult Learning Strategy |
|
0.7 |
0.9 |
1.3 |
1.5 |
Advanced Manufacturing |
|
0.4 |
.... |
.... |
.... |
Basslink Legal Costs |
|
5.0 |
.... |
.... |
.... |
Business Events Tasmania |
|
0.2 |
0.2 |
0.2 |
0.2 |
Collingwood Magpies Netball Support |
|
0.6 |
0.6 |
0.3 |
.... |
Community Arts and Cultural Development Fund |
|
0.3 |
0.8 |
.... |
.... |
COVID‑19 Response and Recovery |
|
84.7 |
23.6 |
5.4 |
.... |
Forestry Industry Value Add |
|
0.2 |
.... |
.... |
.... |
Geoscience Initiative |
|
0.2 |
.... |
.... |
.... |
Hydrogen ‑ Competitive Electricity Supply Arrangements |
|
1.0 |
1.0 |
1.0 |
1.0 |
Hydrogen Tasmania Renewable Hydrogen Fund |
|
3.0 |
3.0 |
3.0 |
3.0 |
IT Network Infrastructure Upgrades |
|
1.0 |
3.0 |
.... |
.... |
Key Investment Project Development |
|
0.5 |
0.3 |
0.3 |
.... |
Launceston City Deal Urban Water Infrastructure Upgrades (Tamar Estuary Agreement) |
|
2.0 |
9.2 |
16.6 |
18.3 |
Macquarie Point Project Funding (Elizabeth Street Pier Sale Proceeds) |
|
5.2 |
.... |
.... |
.... |
NBL |
|
4.0 |
4.2 |
1.8 |
1.6 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
State Growth (continued) |
|
|
|
|
|
Office of the Coordinator‑General |
|
0.3 |
0.3 |
.... |
.... |
On‑demand Passenger Transport Implementation and Transition |
|
0.4 |
0.4 |
.... |
.... |
MAST Additional Support |
|
0.6 |
0.3 |
0.3 |
0.3 |
Serco Global Services |
|
0.2 |
0.2 |
0.2 |
0.2 |
Tasmanian Renewable Energy Powerhouse |
|
1.6 |
0.8 |
0.6 |
0.6 |
Tourism and Hospitality Industry Led Registered Training Organisation |
|
0.5 |
0.5 |
.... |
.... |
Unconformity Festival |
|
0.4 |
.... |
.... |
.... |
Waratah Local Recreation Infrastructure |
|
0.2 |
0.1 |
.... |
.... |
wukalina Walk |
|
0.3 |
.... |
.... |
.... |
|
|
113.4 |
49.5 |
30.7 |
26.6 |
Tourism Tasmania |
|
|
|
|
|
COVID‑19 Response and Recovery18 |
|
0.4 |
.... |
.... |
.... |
|
|
0.4 |
.... |
.... |
.... |
Treasury and Finance |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
1.8 |
0.3 |
.... |
.... |
|
|
1.8 |
0.3 |
.... |
.... |
Borrowing costs |
|
|
|
|
|
Finance‑General |
|
|
|
|
|
Commonwealth‑State Housing Agreement Debt Waiver12 |
|
(6.7) |
(6.3) |
(5.9) |
(5.9) |
|
|
(6.7) |
(6.3) |
(5.9) |
(5.9) |
State Growth |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
0.8 |
1.5 |
.... |
.... |
|
|
0.8 |
1.5 |
.... |
.... |
|
|
|
|
|
|
Total Policy Decisions |
|
772.5 |
558.8 |
464.2 |
303.7 |
|
|
|
|
|
|
Parameter Adjustments |
|
|
|
|
|
Borrowing costs |
|
11.5 |
28.2 |
33.4 |
.... |
Depreciation |
|
36.1 |
31.2 |
36.7 |
.... |
Nominal superannuation interest expense |
|
(112.6) |
(182.5) |
(185.2) |
.... |
|
|
|
|
|
|
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Agency Expenditure |
|
|
|
|
|
Brand Tasmania |
|
0.2 |
0.2 |
0.2 |
.... |
Communities Tasmania |
|
40.2 |
22.8 |
(1.3) |
.... |
Education |
|
40.1 |
40.3 |
40.9 |
.... |
Finance‑General |
|
105.2 |
38.7 |
(12.1) |
.... |
Health |
|
250.1 |
124.4 |
106.0 |
.... |
House of Assembly |
|
.... |
0.1 |
0.1 |
.... |
Integrity Commission |
|
0.1 |
.... |
.... |
.... |
Justice |
|
17.9 |
15.7 |
16.5 |
.... |
Legislative Council |
|
0.1 |
.... |
0.1 |
.... |
Legislature‑General |
|
(0.1) |
(0.1) |
(0.1) |
.... |
Marine and Safety Tasmania |
|
3.6 |
1.9 |
0.3 |
.... |
Ministerial and Parliamentary Support |
|
(0.2) |
(0.2) |
(0.1) |
.... |
Office of the Director of Public Prosecutions |
|
0.2 |
0.3 |
0.3 |
.... |
Office of the Governor |
|
0.1 |
0.1 |
0.1 |
.... |
Office of the Ombudsman |
|
0.1 |
.... |
.... |
.... |
Police, Fire and Emergency Management |
|
21.8 |
6.6 |
11.4 |
.... |
Premier and Cabinet |
|
6.4 |
(0.2) |
1.0 |
.... |
Primary Industries, Parks, Water and Environment |
|
(3.2) |
5.2 |
7.4 |
.... |
Royal Tasmanian Botanical Gardens |
|
(0.2) |
(0.4) |
(0.5) |
.... |
State Fire Commission |
|
(11.1) |
(8.2) |
(12.0) |
.... |
State Growth |
|
44.5 |
7.8 |
21.3 |
.... |
Tasmanian Audit Office |
|
0.1 |
(0.1) |
(0.1) |
.... |
TasTAFE |
|
2.0 |
6.3 |
2.0 |
.... |
Tourism Tasmania |
|
5.6 |
…. |
0.1 |
.... |
Treasury and Finance |
|
0.3 |
0.4 |
(0.2) |
.... |
Other19 |
|
2.2 |
1.2 |
1.3 |
.... |
Total Agency Expenditure |
|
526.0 |
262.7 |
182.6 |
.... |
Total Parameter Adjustments |
|
461.1 |
139.6 |
67.4 |
.... |
|
|
|
|
|
|
TOTAL EXPENSES FROM TRANSACTIONS ADJUSTMENTS (D) |
|
1 233.5 |
698.4 |
531.6 |
.... |
|
|
|
|
|
|
NET OPERATING BALANCE (A+C‑D) |
|
(1 118.0) |
(281.5) |
13.9 |
17.2 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
|
|
|
|
|
|
Less NET ACQUISITION OF NON‑FINANCIAL ASSETS |
|
|
|
|
|
Purchases of non‑financial assets from Transactions |
|
|
|
|
|
Policy Decisions |
|
|
|
|
|
Communities Tasmania |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
49.3 |
15.5 |
10.0 |
.... |
Principal component of Commonwealth‑State Housing Agreement Debt Waiver12 |
|
5.5 |
5.9 |
0.4 |
.... |
|
|
54.8 |
21.4 |
10.4 |
.... |
Education |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
5.9 |
0.5 |
.... |
.... |
Legana Primary School ‑ Additional Funding |
|
1.5 |
.... |
.... |
2.5 |
New Brighton High School ‑ Additional Funding |
|
5.0 |
3.5 |
4.0 |
4.0 |
Springfield Gardens Primary School |
|
0.5 |
1.0 |
.... |
.... |
|
|
12.9 |
5.0 |
4.0 |
6.5 |
Health |
|
|
|
|
|
Better Accommodation for Health Professionals on Flinders Island ‑ Additional funding |
|
0.2 |
.... |
.... |
.... |
COVID‑19 Response and Recovery |
|
12.7 |
5.0 |
|
|
Human Resources Information System |
|
2.1 |
11.0 |
8.5 |
.... |
|
|
15.0 |
16.0 |
8.5 |
.... |
Justice |
|
|
|
|
|
COVID‑19 Response and Recovery20 |
|
2.8 |
4.9 |
0.2 |
(6.1) |
Real Time Fuel Price Monitoring |
|
0.3 |
.... |
.... |
.... |
Southern Remand Centre ‑ Additional Funding |
|
.... |
15.0 |
.... |
.... |
|
|
3.1 |
19.9 |
0.2 |
(6.1) |
Legislature‑General |
|
|
|
|
|
Parliament Lighting Facade |
|
0.1 |
.... |
.... |
.... |
|
|
0.1 |
.... |
.... |
.... |
Police, Fire and Emergency Management |
|
|
|
|
|
COVID‑19 Response and Recovery |
|
8.0 |
11.2 |
.... |
.... |
Large Vessel Replacement Program |
|
.... |
2.5 |
.... |
.... |
Project Unify |
|
8.3 |
15.0 |
12.7 |
10.1 |
|
|
16.3 |
28.7 |
12.7 |
10.1 |
|
|
2020‑21 |
2021‑22 |
2022‑23 |
2023‑24 |
|
|
|
Forward |
Forward |
Forward |
|
|
Budget |
Estimate |
Estimate |
Estimate1 |
|
|
$m |
$m |
$m |
$m |
Premier and Cabinet |
|
|
|
|
|
Cyber Security |
|
0.2 |
1.0 |
0.9 |
0.6 |
|
|
0.2 |
1.0 |
0.9 |
0.6 |
Primary Industries, Parks, Water and Environment |
|
|
|
|
|
Analytical Services Tasmania Instrument/Equipment |
|
.... |
1.0 |
.... |
.... |
COVID‑19 Response and Recovery |
|
0.2 |
0.2 |
.... |
.... |
Freycinet Peninsula Wastewater |
|
4.4 |
4.0 |
.... |
.... |
Waste Action Plan Implementation |
|
.... |
1.0 |
.... |
.... |
|
|
4.6 |
6.2 |
.... |
.... |
State Growth |
|
|
|
|
|
Bruny Island Landside Infrastructure |
|
7.5 |
.... |
.... |
.... |
Bus Services as part of the Hobart City Deal |
|
.... |
0.5 |
.... |
.... |
COVID‑19 Response and Recovery21 |
|
19.1 |
24.3 |
(2.9) |
.... |
|
|
26.6 |
24.8 |
(2.9) |
…. |
|
|
|
|
|
|
Total Policy Decisions |
|
133.4 |
123.0 |
33.9 |
11.1 |
|
|
|
|
|
|
Parameter Adjustments |
|
|
|
|
|
Communities Tasmania |
|
(0.8) |
2.6 |
(1.2) |
.... |
Education |
|
2.2 |
13.6 |
4.1 |
.... |
Finance‑General |
|
8.5 |
7.4 |
3.0 |
.... |
Health |
|
85.0 |
18.1 |
23.9 |
.... |
Inland Fisheries Service |
|
0.2 |
.... |
.... |
.... |
Justice |
|
8.0 |
16.0 |
2.5 |
.... |
Marine and Safety Tasmania |
|
(0.8) |
(1.5) |
.... |
.... |
Police, Fire and Emergency Management |
|
10.0 |
.... |
.... |
.... |
Primary Industries, Parks, Water and Environment |
|
28.5 |
6.8 |
0.2 |
.... |
Royal Tasmanian Botanical Gardens |
|
2.6 |
2.8 |
.... |
.... |
State Fire Commission |
|
3.2 |
(0.4) |
1.8 |
.... |
State Growth22 |
|
78.1 |
102.1 |
72.9 |
.... |
TasTAFE |
|
15.5 |
19.2 |
1.0 |
.... |
Treasury and Finance |
|
(6.7) |
(0.6) |
.... |
.... |
Total Parameter Adjustments |
|
233.5 |
185.9 |
108.1 |
.... |
|