4     2023-24 Budget and Forward Estimates

Key Issues

·       The Net Operating Balance is estimated to be a deficit of $297.5 million for 2023‑24, improving over the Forward Estimates period to an estimated surplus of $61.2 million in 2026‑27.

·       The Fiscal Balance remains in deficit over the 2023‑24 Budget and Forward Estimates period, with an estimated deficit of $988.8 million in 2023‑24, improving to an estimated deficit of $189.6 million in 2026‑27.

·       Net Debt (including the impact of Leases under AASB 16 Leases) is estimated to be $3 497.2 million as at 30 June 2024, increasing to $5 596 million as at 30 June 2027.

·       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 2022‑23 Budget Papers and those presented in these Budget Papers. Detailed information on 2023‑24 Budget initiatives can be found in Government Services Budget Paper No 2.


 

Overview

This chapter includes the General Government Sector Financial Statements for the 2023‑24 Budget and Forward Estimates period and the Estimated Outcome for 2022‑23. It also incorporates the Policy and Parameter Statement, which reflects changes between the Budget and Forward Estimates reported in the 2022‑23 Budget Papers and the 2023‑24 Budget Papers.

In addition, this chapter includes the Public Account Budget and Forward Estimates together with Specific Purpose Account Estimated Receipts and Expenditure for 2023‑24. These reports are prepared to meet requirements of section 17(10), 19(1)(a) and 19(1)(b) of the Financial Management Act 2016.

The financial statements in this chapter have been prepared in accordance with the Uniform Presentation Framework. The statements present information for the 2022‑23 Budget and for the 2023‑24 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 2023‑24 will be presented in the Treasurer’s Annual Financial Report 2023-24, which is required to be released by no later than 31 October 2024.


 

Government Financial Estimates

Tables 4.1 to 4.3 detail the Income Statement, Balance Sheet and Cash Flow Statement for the General Government Sector.

Table 4.1:         General Government Income Statement1

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Revenue from transactions2

 

 

 

 

 

 

Grants

5 099.5 

5 725.8 

5 619.0 

5 644.9 

5 578.3 

5 685.2 

Taxation

1 613.3 

1 611.6 

1 684.5 

1 762.3 

1 848.3 

1 934.2 

Sales of goods and services

451.1 

430.6 

418.7 

431.4 

437.6 

444.1 

Fines and regulatory fees

111.2 

120.5 

126.4 

134.9 

136.4 

126.4 

Interest income

29.2 

54.7 

74.6 

68.2 

73.0 

72.2 

Dividend, tax and rate equivalent income

336.2 

342.7 

302.8 

361.8 

384.8 

319.5 

Other revenue

207.8 

254.1 

196.4 

196.0 

196.3 

204.6 

 

7 848.2 

8 540.0 

8 422.2 

8 599.4 

8 654.7 

8 786.3 

 

 

 

 

 

 

 

Less Expenses from transactions

 

 

 

 

 

 

Employee expenses3

3 393.7 

3 585.0 

3 710.5 

3 822.0 

3 879.9 

3 956.7 

Superannuation4

411.5 

422.4 

439.6 

461.9 

481.7 

486.0 

Depreciation

466.4 

456.0 

448.1 

466.8 

487.6 

501.1 

Supplies and consumables5

1 768.2 

1 714.9 

1 650.0 

1 657.4 

1 627.7 

1 660.9 

Nominal superannuation interest expense6

191.0 

290.3 

289.2 

289.4 

289.3 

288.3 

Borrowing costs7

90.0 

86.3 

144.9 

201.6 

250.7 

285.5 

Grant and subsidy expenses8

1 962.4 

2 146.9 

1 991.8 

1 856.1 

1 688.4 

1 677.2 

Other expenses9

39.8 

55.3 

45.7 

(7.7)

(63.3)

(130.6)

 

8 322.8 

8 757.0 

8 719.7 

8 747.4 

8 642.1 

8 725.0 

 

 

 

 

 

 

 

Equals NET OPERATING BALANCE

(474.6)

(217.1)

(297.5)

(148.1)

12.7 

61.2 

 

 

 

 

 

 

 

Plus Other economic flows - included in Operating Result

 

 

 

 

 

 

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

30.5 

7.9 

20.6 

12.2 

13.6 

11.9 

Other gains/(losses)

23.4 

(37.8)

(41.8)

(60.8)

(47.3)

(40.6)

 

53.8 

(29.9)

(21.2)

(48.6)

(33.7)

(28.7)

 

 

 

 

 

 

 

Equals Operating Result

(420.8)

(247.0)

(318.7)

(196.7)

(21.1)

32.5 

 

 

 

 

 

 

 

 


 

Table 4.1:         General Government Income Statement1 (continued)

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

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

282.0 

239.1 

274.1 

274.1 

274.1 

274.1 

Revaluation of equity investment in PNFC and PFC sectors10

(51.1)

1 477.7 

280.5 

274.5 

307.4 

550.2 

Movements in superannuation liability11

.... 

24.8 

.... 

.... 

.... 

.... 

 

230.9 

1 741.6 

554.6 

548.6 

581.5 

824.3 

 

 

 

 

 

 

 

Equals Comprehensive Result

(189.9)

1 494.6 

236.0 

352.0 

560.5 

856.8 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET OPERATING BALANCE

(474.6)

(217.1)

(297.5)

(148.1)

12.7 

61.2 

 

 

 

 

 

 

 

Less Net acquisition of non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets12

1 176.3 

863.7 

1 178.2 

1 119.4 

944.6 

782.0 

Less Sales of non‑financial assets

48.6 

26.1 

38.8 

30.4 

31.7 

30.1 

Less Depreciation

466.4 

456.0 

448.1 

466.8 

487.6 

501.1 

 

661.3 

381.7 

691.3 

622.3 

425.3 

250.9 

 

 

 

 

 

 

 

Equals FISCAL BALANCE

(1 135.9)

(598.8)

(988.8)

(770.3)

(412.6)

(189.6)

 

 

 

 

 

 

 

Notes:

1.    Variations in 2023‑24 include the impact of the establishment of Homes Tasmania. This has resulted in the transfer of Housing Revenues from transactions and Expenses from transactions from the General Government Sector to Homes Tasmania and an increase in Revenues from transactions and Expenses from transactions in the Public Non-Financial Corporations Sector. Refer to appendix 1 of this Budget Paper for more information on the PNFC Sector.

2.    Detailed information on revenue estimates is provided in chapter 5 of this Budget Paper.

3.    The increase in Employee expenses in 2023‑24 primarily reflects the impact of the Government’s 2023‑24 Budget initiatives and prior year Budget initiatives, together with supplementary funding to support wage agreement outcomes.

4.    The change in Superannuation includes the latest actuarial advice provided by the State’s Actuary. Further information on the Superannuation liability is provided in chapter 7 of this Budget Paper.

5.    The decrease in Supplies and consumables in 2023‑24 and over the Forward Estimates primarily reflects the impact of funding in relation to prior year Budget initiatives and the cessation of fixed‑term COVID‑19 related expenditure, which is partially offset by an increase in the Government’s 2023‑24 Budget initiative expenditure.

6.    The increase in Nominal superannuation interest expense in 2023‑24 reflects the latest actuarial advice provided by the State’s Actuary and includes a change in the discount rate from 2.5 per cent, used in the 2022‑23 Budget, to a rate of 4.0 per cent used in the 2023‑24 Budget.

7.    The increase in Borrowing costs from 2023‑24 primarily reflects forecast increases in the estimated General Government Sector cash deficit together with forecast increases in borrowing rates across the Budget and Forward Estimates.

8.    The decrease in Grant and subsidy expense from 2024‑25 onwards primarily reflects the impact of funding in relation to 2023‑24 Budget initiatives and prior year Budget initiatives, together with a reduction in COVID‑19 pandemic‑related expenditure.

9.    The decrease in Other expenses from 2024‑25 onwards primarily reflects the recognition of the Government’s Budget Efficiency Dividend. Additional information on the Government’s Budget Efficiency Dividend is provided in chapter 1 of this Budget Paper.

10.  Revaluation of equity investment in the PNFC and PFC sectors reflects changes in the net assets of entities in the sectors, including the impact of the establishment of Homes Tasmania as a PNFC sector entity from 1 December 2022. Refer to appendix 1 of this Budget Paper for more information on the PNFC and PFC sectors.

11.  Details of the change in the Movements in superannuation liability are provided in chapter 7 of this Budget Paper.

12.  Detailed information on infrastructure investment is provided in chapter 6 of this Budget Paper.

Table 4.2:         General Government Balance Sheet as at 30 June1

 

2023 

2023 

2024 

2025 

2026 

2027 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

Cash and deposits2

624.6 

932.9 

937.6 

891.2 

916.9 

887.9 

Investments

867.2 

852.3 

885.3 

843.1 

843.1 

847.0 

Equity investments in PNFC and PFC sectors

5 445.2 

10 526.4 

11 013.6 

11 523.1 

11 930.1 

12 545.6 

Other equity investments

201.4 

139.9 

189.9 

190.0 

190.0 

190.0 

Receivables

407.3 

380.3 

381.7 

380.0 

382.4 

381.8 

Other financial assets

596.5 

677.9 

640.1 

602.8 

568.7 

543.1 

 

8 142.2 

13 509.7 

14 048.4 

14 430.2 

14 831.3 

15 395.4 

 

 

 

 

 

 

 

Non‑financial assets

 

 

 

 

 

 

Land and buildings3

8 205.7 

6 790.0 

7 022.7 

7 296.9 

7 510.7 

7 610.9 

Infrastructure4

6 938.9 

6 846.2 

7 591.4 

8 255.2 

8 793.1 

9 257.3 

Plant and equipment

342.9 

347.1 

388.2 

394.3 

406.5 

414.7 

Heritage and cultural assets

478.7 

493.1 

505.4 

517.7 

530.0 

542.3 

Investment property

3.2 

3.8 

3.9 

3.9 

3.9 

3.9 

Intangibles

136.9 

133.8 

201.6 

255.6 

295.4 

345.7 

Assets held for sale

2.8 

9.7 

10.9 

12.4 

10.8 

10.3 

Lease - right-of-use-assets5

335.7 

743.9 

687.8 

618.7 

550.2 

484.2 

Other non‑financial assets

910.8 

101.4 

99.6 

98.4 

97.8 

97.3 

 

17 355.6 

15 469.1 

16 511.6 

17 453.0 

18 198.2 

18 766.7 

 

 

 

 

 

 

 

Total Assets

25 497.8 

28 978.9 

30 560.0 

31 883.2 

33 029.5 

34 162.0 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Borrowings6

4 125.6 

3 286.1 

4 555.0 

5 599.0 

6 204.8 

6 677.3 

Lease liabilities5

360.2 

782.0 

765.1 

728.1 

690.9 

653.5 

Superannuation7

8 397.6 

7 744.4 

7 759.3 

7 753.0 

7 729.3 

7 687.2 

Employee entitlements8

871.4 

878.6 

898.8 

920.3 

940.4 

877.0 

Payables

182.5 

173.5 

178.0 

181.7 

182.1 

183.4 

Other liabilities9

790.7 

907.5 

961.0 

906.4 

926.8 

871.5 

Total Liabilities

14 728.0 

13 772.1 

15 117.2 

16 088.5 

16 674.3 

16 950.0 

 

 

 

 

 

 

 

Net Assets

10 769.8 

15 206.8 

15 442.7 

15 794.7 

16 355.2 

17 212.0 

 

 

 

 

 

 

 

 


 

Table 4.2:         General Government Balance Sheet as at 30 June1 (continued)

 

2023 

2023 

2024 

2025 

2026 

2027 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Accumulated funds

5 345.7 

8 150.5 

7 831.8 

7 635.1 

7 614.1 

7 646.6 

Asset revaluation reserve

6 113.2 

6 100.3 

6 374.4 

6 648.5 

6 922.6 

7 196.7 

Other revaluation reserves

(689.1)

956.1 

1 236.6 

1 511.1 

1 818.5 

2 368.7 

Total Equity

10 769.8 

15 206.8 

15 442.7 

15 794.7 

16 355.2 

17 212.0 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

NET WORTH10

10 769.8 

15 206.8 

15 442.7 

15 794.7 

16 355.2 

17 212.0 

 

 

 

 

 

 

 

NET FINANCIAL WORTH11

(6 585.8)

(262.3)

(1 068.8)

(1 658.3)

(1 843.0)

(1 554.6)

 

 

 

 

 

 

 

NET FINANCIAL LIABILITIES12

12 031.0 

10 788.8 

12 082.5 

13 181.4 

13 773.1 

14 100.2 

 

 

 

 

 

 

 

NET DEBT13

2 994.0 

2 282.9 

3 497.2 

4 592.8 

5 135.7 

5 596.0 

 

 

 

 

 

 

 

GFS NET DEBT14

2 633.8 

1 500.9 

2 732.0 

3 864.7 

4 444.7 

4 942.4 

 

 

 

 

 

 

 

Notes:

1.    Changes in Asset and Liability balances in 2024 include the impact of the establishment of Homes Tasmania as a PNFC entity. This has resulted in the transfer of Housing Assets and Liabilities from the General Government Sector to Homes Tasmania and an increase in Assets and Liabilities in the PNFC Sector. This is also reflected as an increase to General Government Sector Equity investments in PNFC and PFC sectors for 2024.

2.    The variation in Cash and deposits primarily reflects revised Specific Purpose Account opening balances based on actual 30 June 2022 outcomes.

3.    Further information on Land and buildings is provided in chapter 7 of this Budget Paper.

4.    The increase in Infrastructure primarily reflects the implementation of the Government’s infrastructure program. Further information on infrastructure investment is provided in chapter 6 of this Budget Paper.

5.    The change in Lease right-of-use assets and Lease liabilities in 2024 and over the Forward Estimates primarily reflects revised estimates based on 30 June 2022 actuals together with the recognition of additional leases in 2022‑23.

6.    The increase in Borrowings as at 30 June 2024 and over the Forward Estimates primarily reflects the increase in borrowings to support the General Government Sector cash deficit.

7.    The decrease in Superannuation reflects the latest actuarial advice provided by the State’s Actuary, which includes a change in the discount rate from 2.5 per cent (used in the 2022‑23 Budget) to a rate of 4.0 per cent used in the 2023‑24 Budget. Further information on the Superannuation liability is provided in chapter 7 of this Budget Paper.

8.    The decrease in Employee entitlements in 2027 recognises the payment of the 27th pay in 2026‑27 and the reduction in the associated liability accrued over prior years for this purpose.

9.    The increase in Other liabilities in 2024 and variations across the Forward Estimates primarily reflects revised Australian Government funding contract liability balances.

10.  Net Worth represents Total Assets less Total Liabilities.

11.  Net Financial Worth represents Financial assets less Total Liabilities.

12.  Net Financial Liabilities represents Total Liabilities less Financial assets, excluding Equity investment in PNFC and PFC sectors.

13.  Net Debt represents Borrowings plus Lease liabilities, less the sum of Cash and deposits and Investments.

14.  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.


 

Table 4.3:         General Government Cash Flow Statement

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

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

5 111.2 

5 761.7 

5 665.8 

5 584.6 

5 593.1 

5 624.3 

Taxation

1 611.8 

1 610.7 

1 682.8 

1 760.0 

1 846.9 

1 932.3 

Sales of goods and services

446.9 

429.6 

416.7 

429.1 

435.0 

441.6 

Fines and regulatory fees

111.3 

120.6 

126.3 

134.9 

136.3 

126.4 

Interest received

28.8 

54.2 

70.6 

67.3 

68.7 

71.0 

Dividend, tax and rate equivalents

353.3 

313.3 

314.7 

355.0 

386.6 

323.5 

Other receipts

454.1 

500.0 

446.7 

447.0 

447.4 

456.8 

 

8 117.4 

8 790.2 

8 723.7 

8 777.9 

8 913.8 

8 975.7 

 

 

 

 

 

 

 

Cash payments for operating activities

 

 

 

 

 

 

Employee entitlements

(3 374.1)

(3 562.7)

(3 689.0)

(3 799.7)

(3 859.0)

(4 009.9)

Superannuation

(616.4)

(662.7)

(712.1)

(755.8)

(793.0)

(824.2)

Supplies and consumables

(1 778.4)

(1 727.6)

(1 659.6)

(1 666.5)

(1 637.2)

(1 670.6)

Borrowing costs

(90.1)

(74.1)

(143.4)

(201.7)

(251.9)

(285.7)

Grants and subsidies paid

(1 962.3)

(2 146.8)

(1 991.7)

(1 856.1)

(1 688.4)

(1 677.1)

Other payments

(288.6)

(303.7)

(296.8)

(244.5)

(190.3)

(123.8)

 

(8 109.8)

(8 477.6)

(8 492.5)

(8 524.4)

(8 419.7)

(8 591.3)

 

 

 

 

 

 

 

Net cash flows from operating activities

7.6 

312.7 

231.1 

253.6 

494.2 

384.4 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

Net cash flows from non‑financial assets

 

 

 

 

 

 

Purchases of non‑financial assets

(1 166.4)

(868.4)

(1 219.3)

(1 161.5)

(987.9)

(826.3)

Sales of non‑financial assets

45.6 

23.0 

35.0 

26.6 

27.9 

26.3 

 

(1 120.8)

(845.4)

(1 184.3)

(1 134.9)

(960.0)

(800.1)

 

 

 

 

 

 

 

Net cash flows from financial assets (policy purposes)

 

 

 

 

 

 

Equity injections

(346.8)

(273.9)

(256.7)

(235.0)

(99.5)

(65.3)

Net advances paid

(36.0)

(98.2)

(33.0)

42.2 

.... 

(3.8)

Equity disposals

3.6 

2.1 

.... 

.... 

.... 

.... 

 

(379.3)

(369.9)

(289.7)

(192.8)

(99.5)

(69.1)

 


 

Table 4.3:         General Government Cash Flow Statement (continued)

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Net cash flows from financial assets (liquidity management purposes)

 

 

 

 

 

 

Net (purchase)/sale of investments

41.0 

41.3 

0.5 

3.0 

3.3 

.... 

 

41.0 

41.3 

0.5 

3.0 

3.3 

.... 

 

 

 

 

 

 

 

Net cash flows from investing activities

(1 459.0)

(1 174.0)

(1 473.5)

(1 324.7)

(1 056.3)

(869.2)

 

 

 

 

 

 

 

Net cash flows from financing activities

 

 

 

 

 

 

Net borrowing

1 451.9 

821.1 

1 247.1 

1 024.7 

587.7 

455.9 

 

1 451.9 

821.1 

1 247.1 

1 024.7 

587.7 

455.9 

 

 

 

 

 

 

 

Net increase/(decrease) in cash held

0.4 

(40.2)

4.7 

(46.4)

25.6 

(29.0)

 

 

 

 

 

 

 

Cash at the beginning of the year

624.2 

973.1 

932.9 

937.6 

891.2 

916.9 

Cash at the end of the year

624.6 

932.9 

937.6 

891.2 

916.9 

887.9 

 

 

 

 

 

 

 

KEY FISCAL AGGREGATES

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash flows from operating activities

7.6 

312.7 

231.1 

253.6 

494.2 

384.4 

Plus Net cash flows from non‑financial assets

(1 120.8)

(845.4)

(1 184.3)

(1 134.9)

(960.0)

(800.1)

Equals CASH SURPLUS/(DEFICIT)

(1 113.2)

(532.8)

(953.2)

(881.3)

(465.9)

(415.7)

 

 

 

 

 

 

 

 


 

Policy and Parameter Statement

Introduction

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.

Policy Variation

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.

Parameter Variation

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 2023‑24 Budget since the 2022‑23 Budget.


 

Table 4.4:         Summary Policy and Parameter Statement, 2023‑24 to 2026‑27

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Forward Estimates (Net Operating Balance) as per the 2022‑23 Budget (A)

(474.6)

19.1 

32.2 

30.5 

.... 

Forward Estimates (Fiscal Balance) as per the 2022‑23 Budget (B)

(1 135.9)

(691.6)

(553.2)

(283.6)

.... 

 

 

 

 

 

 

REVENUE

 

 

 

 

 

Policy Decisions

(34.2)

(80.0)

(66.3)

(66.3)

(66.2)

Parameter Adjustments

726.0 

276.7 

266.7 

239.3 

.... 

TOTAL REVENUE ADJUSTMENTS (C)

691.7 

196.7 

200.5 

173.0 

.... 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

Policy Decisions

229.8 

158.4 

88.4 

(59.1)

(119.9)

Parameter Adjustments

204.4 

354.9 

292.4 

250.0 

.... 

TOTAL EXPENSE ADJUSTMENTS (D)

434.2 

513.3 

380.7 

190.9 

.... 

 

 

 

 

 

 

NET OPERATING BALANCE (A+C-D)

(217.1)

(297.5)

(148.1)

12.7 

61.2 

 

 

 

 

 

 

Less NET ACQUISITION OF NON‑FINANCIAL ASSETS

 

 

 

 

 

Purchases of non‑financial assets

 

 

 

 

 

Policy Decisions

(37.5)

(5.4)

21.3 

56.6 

137.2 

Parameter Adjustments

(275.1)

(127.3)

(102.4)

(22.7)

.... 

 

(312.6)

(132.7)

(81.0)

33.9 

.... 

 

 

 

 

 

 

Less Sale of non‑financial assets

 

 

 

 

 

Policy Decisions

(18.8)

(74.9)

(70.5)

(28.2)

(14.5)

Parameter Adjustments

(3.7)

10.8 

3.2 

7.1 

.... 

 

(22.6)

(64.1)

(67.3)

(21.1)

.... 

 

 

 

 

 

 

Less Depreciation - Total Adjustments

(10.4)

(49.1)

(50.6)

(56.2)

.... 

TOTAL NET ACQUISITION OF NON‑FINANCIAL ASSETS ADJUSTMENTS (E)

(279.4)

(19.5)

36.9 

111.2 

.... 

 

 

 

 

 

 

FISCAL BALANCE (B+C-D-E)

(598.8)

(988.8)

(770.3)

(412.6)

(189.6)

 

 

 

 

 

 

Note:

1.    Parameter adjustments for 2026‑27 are not reflected in the Table as the 2026‑27 Forward Estimate was not published in the 2022‑23 Budget. However, policy adjustments are reflected to show their full impact on the 2023‑24 Budget and Forward Estimates.


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Forward Estimates (Net Operating Balance) as per the 2022‑23 Budget (A)

(474.6)

19.1 

32.2 

30.5 

.... 

Forward Estimates (Fiscal Balance) as per the 2022‑23 Budget (B)

(1 135.9)

(691.6)

(553.2)

(283.6)

.... 

 

 

 

 

 

 

Revenue from transactions

 

 

 

 

 

Policy Decisions

 

 

 

 

 

Agency Revenue

 

 

 

 

 

Housing Tasmania2

(34.2)

(66.2)

(66.2)

(66.2)

(66.2)

 

(34.2)

(66.2)

(66.2)

(66.2)

(66.2)

Taxation

 

 

 

 

 

Duties3

.... 

(13.9)

.... 

.... 

.... 

Land Tax4

.... 

.... 

(0.1)

(0.1)

(0.1)

 

.... 

(13.9)

(0.1)

(0.1)

(0.1)

Total Policy Decisions

(34.2)

(80.0)

(66.3)

(66.3)

(66.2)

 

 

 

 

 

 

Parameter Adjustments

 

 

 

 

 

Taxation

 

 

 

 

 

Annual Wagering Levy

.... 

.... 

0.1 

0.1 

.... 

Casino Tax and Licence Fees

3.8 

1.2 

2.4 

3.4 

.... 

Duties

(65.8)

(101.2)

(126.7)

(133.3)

.... 

Fire Service Levies

12.5 

13.4 

14.5 

14.7 

.... 

Guarantee Fees

(0.8)

(2.5)

(3.0)

(1.5)

.... 

Land Tax

3.5 

21.7 

25.8 

30.1 

.... 

Lottery Tax

0.9 

0.6 

0.2 

(0.3)

.... 

Motor Tax

5.5 

4.0 

3.0 

2.0 

.... 

Motor Vehicle Fire Levy

.... 

0.7 

1.3 

2.0 

.... 

Payroll Tax

37.9 

45.1 

52.8 

61.1 

.... 

Point of Consumption Wagering Tax

0.7 

0.8 

0.8 

0.9 

.... 

Vehicle registration fees

.... 

(0.5)

(1.1)

(1.7)

.... 

Total Taxation

(1.7)

(16.9)

(29.8)

(22.4)

.... 

 

 

 

 

 

 

Dividend, tax and rate equivalent income

 

 

 

 

 

Dividend income

 

 

 

 

 

Aurora Energy Pty Ltd

(3.5)

(6.5)

(7.5)

(5.0)

.... 

Hydro Tasmania

(13.0)

(16.5)

49.9 

52.4 

.... 

Motor Accidents Insurance Board

(9.1)

(3.9)

(7.0)

(9.4)

.... 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Dividend income (continued)

 

 

 

 

 

Sustainable Timber Tasmania

1.0 

.... 

.... 

.... 

.... 

Tasmanian Networks Pty Ltd

10.6 

5.8 

(22.9)

(3.8)

.... 

Tasmanian Ports Corporation Pty Ltd

6.4 

2.5 

5.5 

(4.6)

.... 

Tasmanian Public Finance Corporation

1.7 

7.9 

2.1 

4.4 

.... 

 

(5.8)

(10.7)

20.1 

34.0 

.... 

Income tax equivalents

 

 

 

 

 

Aurora Energy Pty Ltd

(7.6)

(4.8)

(3.2)

(1.8)

.... 

Hydro Tasmania

(8.8)

23.4 

27.0 

14.6 

.... 

Motor Accidents Insurance Board

26.2 

(0.7)

0.2 

(0.4)

.... 

Tasmanian Networks Pty Ltd

1.5 

(2.3)

(0.6)

(1.5)

.... 

Tasmanian Ports Corporation Pty Ltd

1.1 

2.1 

(2.6)

(3.5)

.... 

Tasmanian Public Finance Corporation

3.4 

0.9 

1.9 

1.9 

.... 

TT-Line Company Pty Ltd

(3.5)

.... 

7.8 

10.5 

.... 

 

12.2 

18.6 

30.6 

19.8 

.... 

Rates equivalent payments

 

 

 

 

 

Hydro Tasmania5

.... 

.... 

.... 

.... 

.... 

 

.... 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Total Dividend, tax and rate equivalent income

6.4 

7.9 

50.6 

53.8 

.... 

 

 

 

 

 

 

Interest income

25.5 

38.3 

32.7 

36.1 

.... 

 

 

 

 

 

 

Australian Government Grants

 

 

 

 

 

General Purpose Payments

 

 

 

 

 

GST Revenue

553.0 

182.0 

128.2 

128.3 

.... 

 

553.0 

182.0 

128.2 

128.3 

.... 

National Partnership Payments

 

 

 

 

 

Community Services (including Disability)

2.6 

1.3 

0.3 

.... 

.... 

Education

6.6 

.... 

.... 

.... 

.... 

Environment

0.3 

48.3 

50.3 

15.8 

.... 

Health

62.0 

1.0 

23.3 

2.1 

.... 

Housing

2.3 

5.9 

.... 

.... 

.... 

Infrastructure

(108.1)

(53.8)

(79.6)

(81.7)

.... 

Natural Disaster Relief and Recovery Arrangements

(1.1)

1.0 

9.9 

.... 

.... 

 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

National Partnership Payments (continued)

 

 

 

 

 

Other Services

6.3 

11.5 

17.2 

12.5 

.... 

Skills and Workforce Development

44.1 

5.6 

6.0 

15.5 

.... 

 

15.0 

20.8 

27.4 

(35.8)

.... 

Specific Purpose Payments

 

 

 

 

 

National Health Reform Agreement

45.7 

.... 

.... 

.... 

.... 

National Housing and Homelessness Agreement

1.8 

2.4 

2.7 

3.3 

.... 

National Agreement for Skills and Workforce Development

2.3 

3.0 

3.3 

4.4 

.... 

Quality Schools, Quality Outcomes

6.9 

10.7 

13.4 

13.9 

.... 

 

56.7 

16.1 

19.4 

21.6 

.... 

 

 

 

 

 

 

Other Australian Government Grants

1.6 

1.4 

1.2 

8.4 

.... 

 

 

 

 

 

 

Total Australian Government Grants

626.3 

220.4 

176.2 

122.6 

.... 

 

 

 

 

 

 

Agency Revenue

 

 

 

 

 

Education, Children and Young People

(6.2)

(5.7)

(4.6)

(4.8)

.... 

Environment Protection Authority

0.7 

0.5 

0.5 

0.5 

.... 

Finance‑General

50.5 

0.8 

0.8 

0.8 

.... 

Health

19.5 

24.1 

24.7 

26.8 

.... 

Inland Fisheries Service

.... 

.... 

0.1 

.... 

.... 

Justice

1.7 

.... 

.... 

.... 

.... 

Marine and Safety Tasmania

0.2 

0.2 

(0.2)

(0.1)

.... 

Natural Resources and Environment Tasmania

8.5 

9.8 

16.8 

16.8 

.... 

Office of the Governor

0.2 

.... 

.... 

.... 

.... 

Premier and Cabinet

0.1 

.... 

0.1 

0.1 

.... 

Royal Tasmanian Botanical Gardens

.... 

(0.1)

(0.1)

.... 

.... 

State Growth

(4.5)

(1.1)

0.1 

10.0 

.... 

Tasmanian Audit Office

.... 

0.6 

1.1 

1.5 

.... 

TasTAFE

(1.7)

(2.4)

(2.9)

(2.9)

.... 

Treasury and Finance

0.3 

0.3 

0.4 

0.5 

.... 

Total Agency Revenue

69.4 

27.0 

37.0 

49.1 

.... 

Total Parameter Adjustments

726.0 

276.7 

266.7 

239.3 

.... 

 

 

 

 

 

 

TOTAL REVENUE FROM TRANSACTIONS ADJUSTMENTS (C)

691.7 

196.7 

200.5 

173.0 

.... 

 

 

 

 

 

 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Expenses from transactions

 

 

 

 

 

Policy Decisions

 

 

 

 

 

Agency Expenditure

 

 

 

 

 

Communities Tasmania

 

 

 

 

 

Unspent Appropriation and Roll Over Funding - Housing Tasmania2

(134.0)

(93.2)

(58.9)

(57.3)

(57.9)

Unspent Other Housing Tasmania Expenditure2

(33.8)

(69.5)

(84.1)

(79.3)

(74.7)

 

(167.8)

(162.7)

(143.0)

(136.6)

(132.6)

Education, Children and Young People

 

 

 

 

 

Continuation of Investment into the Child Safety Service System

.... 

.... 

.... 

.... 

1.3 

Intensive Family Engagement Service

.... 

4.2 

4.2 

.... 

.... 

School Lunch Program Extension

.... 

.... 

0.1 

0.1 

0.1 

Tasmanian Autism Diagnostic Service

.... 

.... 

.... 

0.4 

.... 

Tasmanian Autism Diagnostic Service - Provider Panel

.... 

0.2 

.... 

.... 

.... 

Transition to Independence (T2i)

.... 

.... 

3.0 

.... 

.... 

 

.... 

4.3 

7.3 

0.5 

1.4 

Finance-General

 

 

 

 

 

Appropriation Funding Provided for a Grant to Homes Tasmania 2022‑232

163.4 

.... 

.... 

.... 

.... 

Budget Efficiency Dividend6

.... 

.... 

(50.0)

(100.0)

(150.0)

Common Ticketing7

(3.0)

(4.0)

(4.0)

.... 

.... 

COVID‑19 Hotel Quarantine Costs

3.1 

.... 

.... 

.... 

.... 

Electricity Concessions including Winter Bill Buster Discount

11.3 

.... 

.... 

.... 

.... 

Energy Bill Relief Fund

.... 

11.4 

34.0 

.... 

.... 

Expansion of the House of Assembly to 35 Members - Office Accommodation8

.... 

.... 

0.2 

0.2 

0.2 

HomeBuilder Replacement Grant

0.2 

.... 

.... 

.... 

.... 

Intelligent Transport System

.... 

2.0 

1.1 

0.8 

.... 

Metro Tasmania JackJumpers Sponsorship Grant

0.2 

.... 

.... 

.... 

.... 

Pandemic Leave Disaster Payment Extension

1.6 

.... 

.... 

.... 

.... 

Residual Housing Tasmania SPA balance provided to Homes Tasmania as a Grant2

43.0 

.... 

.... 

.... 

.... 

Support for Homes Tasmania Capital Expansion

2.0 

.... 

.... 

.... 

.... 

 

221.8 

9.4 

(18.7)

(99.0)

(149.8)


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Health

 

 

 

 

 

Aeromedical Support

.... 

0.3 

0.3 

.... 

.... 

Allied Health Scholarships

.... 

0.7 

.... 

.... 

0.5 

Ambulance Tasmania workforce - post COVID‑19 demand

.... 

12.0 

14.0 

14.0 

16.0 

Community Transport Services Tasmania

.... 

.... 

.... 

0.4 

.... 

COVID‑19 Frontline Health Workers allowance

21.4 

.... 

.... 

.... 

.... 

COVID‑19 Health Managed Costs

50.9 

.... 

.... 

.... 

.... 

Enabling High Quality Mental Health Reforms

.... 

9.0 

13.0 

13.0 

13.0 

Extending Public Health Response

.... 

6.0 

4.0 

.... 

.... 

Holyoake Gottawanna Program

.... 

0.3 

0.3 

0.3 

.... 

Men’s Table9

.... 

.... 

.... 

.... 

.... 

Mental Health Integration and Reform

.... 

.... 

3.3 

.... 

.... 

Residential Rehabilitation Beds

.... 

4.3 

4.3 

.... 

.... 

Royal Flying Doctor Service - Regional Oral Health Support

.... 

0.3 

0.3 

0.3 

0.3 

Salvation Army Street Teams

.... 

0.2 

0.2 

0.2 

.... 

Supporting Access to Cutting Edge Treatments for Children with Cancer

.... 

.... 

0.3 

.... 

.... 

Sustainable access to public endoscopy services8

.... 

8.3 

9.5 

9.5 

9.5 

Tasmanian Eating Disorder Service

.... 

3.0 

5.0 

7.0 

9.0 

Transforming Public Outpatient Care, Musculoskeletal and Pain Services

.... 

7.5 

7.5 

.... 

.... 

Virtual Care including COVID@homeplus

.... 

18.0 

23.0 

.... 

.... 

 

72.2 

69.9 

85.0 

44.7 

48.3 

Justice

 

 

 

 

 

Administration of House of Assembly Elections

.... 

.... 

0.5 

.... 

.... 

Acting Judges

.... 

0.6 

0.6 

.... 

.... 

Alcohol and Drug Intervention Officers

.... 

0.4 

0.4 

0.4 

0.4 

Civil Litigation Division

.... 

0.4 

.... 

.... 

.... 

Coronial Inquest - Hillcrest Primary School

0.5 

.... 

.... 

.... 

.... 

Family Violence Offender Intervention Programs

.... 

0.5 

0.5 

.... 

.... 

Financial Support for Consumers affected by Building Company Insolvency

1.1 

.... 

.... 

.... 

.... 

Increased Prison Therapeutic Staff

.... 

0.5 

0.5 

.... 

.... 

Legal Assistance Sector Support

.... 

.... 

.... 

0.8 

.... 

National Redress Scheme and associated Civil Claims Compensation

17.0 

20.0 

20.0 

20.0 

10.0 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Justice (continued)

 

 

 

 

 

Office of the Crown Solicitor - sustaining support for Government’s Infrastructure Program

.... 

0.2 

.... 

.... 

.... 

Reduce Re-offending Program

.... 

.... 

0.5 

.... 

.... 

Safe at Home Family Violence Service System

.... 

4.9 

4.9 

4.9 

4.9 

Serious Cases Fund - Complex Criminal Trials

.... 

.... 

0.8 

.... 

.... 

State of the Environment Report

.... 

0.4 

.... 

.... 

.... 

Tasmania Prison Service - Cost Pressures

15.0 

10.0 

.... 

.... 

.... 

 

33.6 

37.7 

28.6 

26.1 

15.2 

Marine and Safety Tasmania

 

 

 

 

 

Flinders Island Boat Ramp Upgrade10

.... 

.... 

.... 

.... 

.... 

 

.... 

.... 

.... 

.... 

.... 

Natural Resources and Environment Tasmania

 

 

 

 

 

10 Year Recreational Sea Fishing Strategy

.... 

0.2 

0.2 

.... 

.... 

Abalone Industry Reinvestment Fund

.... 

1.0 

1.0 

.... 

.... 

Aboriginal Cultural Fisheries

.... 

0.1 

0.2 

.... 

.... 

Apiary Biosecurity (Protection against Varroa Mite)

.... 

0.1 

0.1 

0.1 

0.1 

Ben Lomond Ski Patrol11

.... 

.... 

.... 

.... 

.... 

Bushfires - Winch Insertion

.... 

.... 

0.5 

.... 

.... 

Circular Economy

.... 

1.1 

1.0 

.... 

.... 

Container Refund Scheme

.... 

0.7 

.... 

.... 

.... 

Crown Lands Transaction Turnaround Time

.... 

1.0 

1.0 

.... 

.... 

East Coast Rock Lobster Translocation Program

.... 

0.1 

0.1 

.... 

.... 

Emergency Animal Disease Risk Fund

.... 

0.5 

0.7 

0.7 

0.7 

Emerging Marine Industry Support

.... 

0.1 

0.1 

0.1 

.... 

Flathead Recovery Program

.... 

0.5 

0.5 

.... 

.... 

Implementation of Container Refund Scheme

2.0 

.... 

.... 

.... 

.... 

Increased Funding to the Tasmanian Institute of Agriculture (Agriculture Innovation Fund)

.... 

1.0 

1.0 

.... 

.... 

Land Titles Office Additional Resources

.... 

.... 

0.3 

.... 

.... 

Landcare Action Grants Program

.... 

.... 

.... 

0.2 

.... 

Orange‑bellied Parrot Migration and Tracking8

.... 

0.7 

0.3 

.... 

.... 

Salmon Plan

.... 

0.5 

0.2 

0.2 

.... 

Supporting Recreational Sea Fishing in Local Communities

.... 

.... 

0.2 

.... 

.... 

Supporting Tasmania’s Built Heritage

.... 

1.5 

1.5 

1.5 

.... 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Natural Resources and Environment Tasmania (continued)

 

 

 

 

 

TARFish Peak Body Support

.... 

.... 

0.1 

0.1 

.... 

Weed Action Fund

.... 

0.7 

0.7 

.... 

.... 

Wild Fisheries Action Plan

.... 

0.3 

0.3 

.... 

.... 

 

2.0 

10.0 

9.8 

3.0 

0.8 

Office of the Director of Public Prosecutions

 

 

 

 

 

Acting Judges

.... 

0.4 

0.4 

.... 

.... 

DPP Additional Funding

.... 

.... 

0.8 

.... 

.... 

 

.... 

0.4 

1.1 

.... 

.... 

Office of the Ombudsman

 

 

 

 

 

Tasmanian National Preventive Mechanism

.... 

0.7 

.... 

.... 

.... 

 

.... 

0.7 

.... 

.... 

.... 

Police, Fire and Emergency Management

 

 

 

 

 

Body Worn Cameras, Interview and Cloud Services

.... 

1.1 

1.1 

1.1 

1.1 

Emergency Services Personnel and Volunteers Health and Wellbeing Program

.... 

.... 

.... 

1.5 

1.5 

Kentish and Latrobe Flood Mitigation

.... 

2.2 

.... 

.... 

.... 

Sex Offender Compliance and Investigation Response

.... 

0.4 

0.8 

0.8 

0.9 

Sex Offender Disclosure Program

.... 

0.3 

.... 

.... 

.... 

Support for Injured Workers

5.9 

6.0 

4.5 

4.5 

4.5 

 

5.9 

10.0 

6.4 

7.9 

7.9 

Premier and Cabinet

 

 

 

 

 

Aboriginal Heritage Regulatory Advice and Assessments

0.3 

.... 

.... 

.... 

.... 

Aboriginal Partnerships: Priority Reforms in Aboriginal Affairs

.... 

2.2 

.... 

.... 

.... 

Appointment of Independent Project Manager to implement recommendations arising from the "Motion for Respect Report into Workplace Culture in the Tasmanian Ministerial and Parliamentary Services"

0.2 

0.4 

0.4 

.... 

.... 

Bridport Ex-Services Bowls and Community Club

0.1 

.... 

.... 

.... 

.... 

Build Up Tassie12

.... 

0.2 

0.3 

0.8 

0.8 

Commission of Inquiry Response

.... 

30.0 

.... 

.... 

.... 

Community Services Action Plans and Strategies

.... 

0.8 

.... 

.... 

.... 

Community Support Funding Uplift

.... 

2.1 

.... 

.... 

.... 

 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Premier and Cabinet (continued)

 

 

 

 

 

Cyber Security

.... 

.... 

0.7 

0.7 

0.7 

Digital Inclusion Strategy

.... 

0.2 

.... 

.... 

.... 

Disaster Assistance for Flood-impacted Communities

10.1 

19.4 

11.0 

.... 

.... 

Expand Annie Kenney Youth Shelter13

.... 

0.2 

0.2 

0.2 

0.2 

Family Violence Rapid Rehousing13

.... 

1.0 

1.0 

1.0 

1.0 

Food Vans

.... 

.... 

0.2 

0.2 

0.2 

Hillcrest Primary School - Community Assistance - Long Term Recovery Activities

0.9 

0.4 

0.6 

.... 

.... 

Hobart Women’s Shelter Emergency Response13

.... 

0.4 

0.4 

0.4 

0.4 

Homes Tasmania - Capital Expansion Support

.... 

11.4 

15.1 

18.9 

23.3 

Interpretive project for Wybalenna on Flinders Island

0.6 

.... 

.... 

.... 

.... 

Kentish and Central Coast Councils - North West Storm Relief Package

0.3 

.... 

.... 

.... 

.... 

Kentish House Family Support Service

.... 

0.1 

0.1 

0.1 

.... 

LGBTIQ+ Grants

.... 

.... 

0.1 

0.1 

.... 

Literacy Communitywide Framework

.... 

1.0 

1.5 

2.0 

2.0 

Loaves and Fishes Tasmania - Purchase of Vehicles

0.2 

.... 

.... 

.... 

.... 

MyHome Extension13

.... 

0.5 

0.5 

.... 

.... 

Neighbourhood Houses

.... 

1.8 

.... 

.... 

.... 

Neighbourhood Houses Tasmania - Governance Capacity

.... 

.... 

.... 

0.1 

.... 

Office of Local Government - Compulsory Voting

0.4 

.... 

.... 

0.2 

.... 

Open Spaces Grant Program

5.0 

.... 

.... 

.... 

.... 

Peak Body Funding

.... 

.... 

0.9 

0.9 

.... 

Phoenix House

.... 

.... 

0.1 

0.1 

.... 

Playgroup Tasmania Holbrook Street Centre

0.1 

.... 

.... 

.... 

.... 

Private Rental Incentive Scheme Enhancement13

.... 

(0.8)

1.3 

1.0 

.... 

Protective Security Policy Framework

.... 

0.2 

0.2 

0.2 

0.2 

Recovery Tasmania

.... 

.... 

0.2 

0.2 

.... 

Restructure Homes Tasmania Grant Appropriation2

.... 

63.1 

59.9 

58.3 

58.9 

RSL Tasmania - Peak Body Funding

.... 

.... 

.... 

0.1 

.... 

Seasonal Workers Quarantine Costs

0.2 

.... 

.... 

.... 

.... 

Severe Weather Event

0.3 

.... 

.... 

.... 

.... 

Shelter Tas - Additional Funding13

.... 

0.1 

0.1 

.... 

.... 

Statewide Safe Spaces13

.... 

7.0 

7.0 

7.0 

7.0 

Strategic Regional Partnerships

.... 

1.4 

2.2 

.... 

.... 

Tasmanian Men’s Sheds Association

.... 

.... 

0.2 

0.2 

.... 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Premier and Cabinet (continued)

 

 

 

 

 

Tasmanian State Service Aboriginal Employment Strategy and Youth Employment

.... 

0.3 

0.3 

.... 

.... 

Tasmania’s Third Family and Sexual Violence Action Plan: Survivors at the Centre 2022‑2027

.... 

12.5 

12.5 

12.5 

12.5 

Volunteering Tasmania - EV CREW

.... 

0.1 

0.1 

.... 

.... 

West Tamar Council Landslip Cost Sharing

0.2 

.... 

.... 

.... 

.... 

Youth Week and Other Youth Targeted Programs

.... 

.... 

0.1 

.... 

.... 

Youth2Independence13

.... 

0.1 

1.9 

1.9 

1.9 

 

18.7 

156.0 

119.0 

107.0 

109.2 

Royal Tasmanian Botanical Gardens

 

 

 

 

 

Critical Irrigation Repairs and Heritage Wall Repairs8

.... 

0.1 

.... 

.... 

.... 

 

.... 

0.1 

.... 

.... 

.... 

State Growth

 

 

 

 

 

Accelerating Trade Program

.... 

0.4 

0.4 

.... 

.... 

Basketball Tasmania Development Officers

0.1 

0.2 

0.2 

.... 

.... 

Bass Strait Air

0.2 

.... 

.... 

.... 

.... 

Big hART

0.3 

.... 

.... 

.... 

.... 

Boag’s Brewery Visitor Centre

0.5 

0.5 

.... 

.... 

.... 

Business Energy Efficiency Scheme

0.6 

1.5 

1.2 

0.8 

.... 

Business Events Tasmania

.... 

.... 

0.2 

0.2 

0.2 

C&I Recontracting Energy Assistance

6.0 

.... 

.... 

.... 

.... 

Coastal Pathway - Don to Leith

0.6 

.... 

.... 

.... 

.... 

Collingwood Magpies Netball Team in Tasmania

0.3 

0.4 

0.4 

0.1 

.... 

Common Ticketing7

10.7 

14.6 

.... 

.... 

.... 

Cultural and Creative Industry Operational Assistance

.... 

.... 

.... 

1.2 

1.2 

Delivering the Renewable Energy Agenda

.... 

2.0 

1.8 

.... 

.... 

Elphinstone International Defence Infrastructure

.... 

5.0 

.... 

.... 

.... 

Employer of Choice

.... 

.... 

0.6 

0.6 

0.6 

Energy Saver Loan Scheme

.... 

1.2 

2.5 

0.8 

.... 

Events Tasmania Contract Renewal

1.0 

.... 

.... 

.... 

.... 

Events Tasmania Support

.... 

1.0 

.... 

.... 

.... 

Farm Debt Mediation Scheme

.... 

.... 

.... 

0.1 

0.1 

Football Tasmania

.... 

.... 

.... 

0.5 

.... 

Funding of Key VET Courses (JobTrainer State matched commitment)

1.8 

.... 

.... 

.... 

.... 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

State Growth (continued)

 

 

 

 

 

Funding to MAST for Triabunna Port Navigation (Dredging)

0.4 

.... 

.... 

.... 

.... 

Georges Bay Multi-Track

0.4 

.... 

.... 

.... 

.... 

Hawthorn Football Club Partnership

3.3 

1.1 

.... 

.... 

.... 

Infrastructure Tasmania Operational Funding

.... 

.... 

1.0 

.... 

.... 

Jobs Hub Initiative

.... 

.... 

2.8 

2.8 

.... 

Live Performance Support Program

1.7 

.... 

.... 

.... 

.... 

Major Events Partnerships and Grants Programs

0.9 

.... 

.... 

.... 

.... 

Major Industrials and Other Investor Client Service Model

.... 

0.3 

0.3 

0.3 

.... 

Metro Tasmania Operating Costs

4.5 

.... 

.... 

.... 

.... 

Moonah and Clarence Community Sport Facility Improvements

2.0 

.... 

.... 

.... 

.... 

Norske Skog - Boyer Mill Site Projects - State Contribution

2.0 

.... 

.... 

.... 

.... 

Nyrstar Cell House - Matched Funding Requirement

20.0 

.... 

.... 

.... 

.... 

Physical Disability Sports Programs - ParaQuad

.... 

.... 

0.1 

0.1 

0.1 

Reclink

.... 

.... 

0.2 

0.2 

0.2 

Regional Connectivity Program Round 2

.... 

.... 

0.6 

.... 

.... 

Residential Land Rebate Scheme

.... 

3.0 

.... 

.... 

.... 

Science and Technology Initiatives

.... 

1.8 

.... 

.... 

.... 

Screen Innovation Funding

.... 

0.5 

0.5 

.... 

.... 

Small Business Growth Strategy Grants Program

0.2 

0.5 

0.2 

.... 

.... 

Special Partnerships - Events Tasmania

2.1 

3.4 

.... 

.... 

.... 

Sporting Organisations

.... 

0.3 

.... 

.... 

.... 

Summer Sports Carnivals

.... 

.... 

.... 

0.3 

.... 

Surf Life Saving Tasmania - Marine Rescue Vehicles, Trailers and Vessels

.... 

.... 

.... 

0.3 

.... 

Surf Life Saving Tasmania - Support

.... 

.... 

.... 

0.5 

.... 

Tasmanian Active Infrastructure Grants Program

.... 

5.0 

5.0 

.... 

.... 

Tasmanian AFL Team Package

.... 

10.9 

5.9 

5.8 

12.0 

Tasmanian Defence Advocate

.... 

.... 

0.3 

0.3 

0.3 

Tasmanian Defence Industry Strategy

.... 

0.5 

0.8 

0.8 

0.8 

Tasmanian Green Hydrogen Hub (Project Resources)

.... 

0.3 

0.3 

0.3 

.... 

Tasmanian Hockey Centre - Infrastructure Upgrade

1.3 

.... 

.... 

.... 

.... 

Tasmania’s Aboriginal Heritage

.... 

.... 

0.3 

0.3 

.... 

Taste of Summer 2023‑26

.... 

1.5 

1.2 

1.2 

.... 

Ticket to Play

.... 

.... 

1.0 

1.0 

1.0 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

State Growth (continued)

 

 

 

 

 

Tourism and Hospitality Supply

.... 

1.1 

.... 

.... 

.... 

Tourism Innovation Grant Fund

2.2 

.... 

.... 

.... 

.... 

Visitor Experience and Training (VXT)

1.0 

.... 

.... 

.... 

.... 

Waverley Mills Roof Repair Support

0.5 

.... 

.... 

.... 

.... 

West Coast Wilderness Railway

.... 

1.3 

.... 

.... 

.... 

 

64.7 

58.2 

27.4 

18.0 

16.3 

TasTAFE

 

 

 

 

 

TasTAFE Priority Infrastructure Upgrades

.... 

1.0 

2.0 

.... 

.... 

 

.... 

1.0 

2.0 

.... 

.... 

Tourism Tasmania

 

 

 

 

 

Additional Marketing

.... 

.... 

.... 

6.0 

.... 

 

.... 

.... 

.... 

6.0 

.... 

Depreciation

 

 

 

 

 

Communities Tasmania

 

 

 

 

 

Unspent Other Housing Tasmania Expenditure2

(21.3)

(36.6)

(36.6)

(36.6)

(36.6)

 

(21.3)

(36.6)

(36.6)

(36.6)

(36.6)

 

 

 

 

 

 

Total Policy Decisions

229.8 

158.4 

88.4 

(59.1)

(119.9)

 

 

 

 

 

 

Parameter Adjustments

 

 

 

 

 

Borrowing costs

(3.7)

6.1 

26.5 

44.8 

.... 

Depreciation

10.9 

(12.5)

(14.0)

(19.6)

.... 

Nominal superannuation interest expense

99.3 

98.1 

98.9 

99.7 

.... 

 

 

 

 

 

 

Agency Expenditure

 

 

 

 

 

Communities Tasmania

3.4 

.... 

.... 

.... 

.... 

Education, Children and Young People

32.9 

43.7 

38.4 

42.6 

.... 

Environment Protection Authority

2.4 

1.5 

1.5 

1.5 

.... 

Finance-General

(157.5)

(15.1)

(40.9)

(76.3)

.... 

Health

228.5 

112.3 

50.9 

61.3 

.... 

House of Assembly

0.1 

0.1 

0.1 

0.1 

.... 

Inland Fisheries Service

.... 

0.4 

0.4 

0.4 

.... 

Integrity Commission

0.2 

.... 

0.2 

.... 

.... 

Justice

4.6 

7.4 

3.3 

3.2 

.... 

Legislative Council

0.2 

0.1 

0.1 

0.1 

.... 

Legislature-General

0.4 

1.9 

1.8 

1.8 

.... 

Marine and Safety Tasmania

0.3 

(0.7)

1.4 

1.4 

.... 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Agency Expenditure (continued)

 

 

 

 

 

Ministerial and Parliamentary Support

0.3 

0.3 

0.3 

0.3 

.... 

Natural Resources and Environment Tasmania

22.4 

22.6 

22.5 

19.8 

.... 

Office of the Director of Public Prosecutions

0.7 

0.1 

0.2 

0.1 

.... 

Office of the Governor

0.6 

0.5 

0.5 

0.5 

.... 

Office of the Ombudsman

(0.2)

0.3 

.... 

.... 

.... 

Police, Fire and Emergency Management

15.6 

9.8 

7.4 

7.7 

.... 

Premier and Cabinet

(24.1)

(14.8)

(7.3)

(0.6)

.... 

Royal Tasmanian Botanical Gardens

(0.2)

0.2 

(0.1)

(0.1)

.... 

State Fire Commission

2.6 

12.2 

10.9 

11.2 

.... 

State Growth

(27.8)

81.9 

87.4 

42.4 

.... 

Tasmanian Audit Office

0.1 

0.8 

1.2 

1.6 

.... 

TasTAFE

(13.2)

(4.1)

(0.9)

3.4 

.... 

Tourism Tasmania

1.8 

0.3 

0.1 

.... 

.... 

Treasury and Finance

3.4 

0.8 

0.8 

2.0 

.... 

Other14

0.4 

0.7 

0.8 

0.8 

.... 

Total Agency Expenditure

97.9 

263.3 

181.0 

125.2 

.... 

Total Parameter Adjustments

204.4 

354.9 

292.4 

250.0 

.... 

 

 

 

 

 

 

TOTAL EXPENSES FROM TRANSACTIONS ADJUSTMENTS (D)

434.2 

513.3 

380.7 

190.9 

.... 

 

 

 

 

 

 

NET OPERATING BALANCE (A+C-D)

(217.1)

(297.5)

(148.1)

12.7 

61.2 

 

 

 

 

 

 

Less NET ACQUISITION OF NON‑FINANCIAL ASSETS

 

 

 

 

 

Purchases of non‑financial assets from transactions

 

 

 

 

 

Policy Decisions

 

 

 

 

 

Communities Tasmania

 

 

 

 

 

Unspent Purchases of non‑financial assets SPA funding - Housing Tasmania2

(7.8)

(74.1)

(54.7)

(17.4)

(8.7)

Unspent Purchases of non‑financial assets Appropriation funding - Housing Tasmania2

(29.6)

(19.5)

(28.5)

(44.9)

(84.5)

 

(37.5)

(93.6)

(83.2)

(62.3)

(93.2)

Finance-General

 

 

 

 

 

Expansion of the House of Assembly to 35 Members - Office Accommodation8

.... 

1.7 

1.7 

.... 

.... 

 

.... 

1.7 

1.7 

.... 

.... 

 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

Health

 

 

 

 

 

Digital Health Transformation

.... 

.... 

.... 

.... 

50.0 

Launceston General Hospital Helipad

.... 

15.0 

.... 

.... 

.... 

Statewide Rural Hospital and Ambulance Station Upgrade Fund15

.... 

2.8 

2.8 

.... 

.... 

Sustainable Access to Public Endoscopy Services8

.... 

1.2 

.... 

.... 

.... 

 

.... 

19.0 

2.8 

.... 

50.0 

Justice

 

 

 

 

 

Burnie Court Complex

.... 

(3.1)

(3.0)

13.9 

37.3 

Risdon Prison Complex - Additional Maximum Security Accommodation

.... 

1.3 

7.1 

26.5 

15.1 

 

.... 

(1.9)

4.2 

40.4 

52.4 

Natural Resources and Environment Tasmania

 

 

 

 

 

Bushfire Management Capacity

.... 

0.3 

0.3 

.... 

.... 

Maria Island Jetty

.... 

0.9 

.... 

.... 

.... 

Orange‑bellied Parrot Migration and Tracking8

.... 

0.3 

0.1 

.... 

.... 

Sustainable Renewal and Maintenance of PWS Critical Roads

.... 

2.0 

2.0 

.... 

.... 

Tasmanian Agricultural Precinct Preparedness

.... 

0.5 

1.5 

2.0 

.... 

 

.... 

4.0 

3.9 

2.0 

.... 

Police, Fire and Emergency Management

 

 

 

 

 

Police Academy Capacity Upgrades

.... 

0.5 

3.6 

.... 

.... 

 

.... 

0.5 

3.6 

.... 

.... 

Royal Tasmanian Botanical Gardens

 

 

 

 

 

Critical Irrigation Repairs and Heritage Wall Repairs8

.... 

0.3 

.... 

.... 

.... 

 

.... 

0.3 

.... 

.... 

.... 

State Fire Commission

 

 

 

 

 

Supporting our Emergency Services Volunteers - Capital Program Boost

.... 

5.0 

5.0 

.... 

.... 

 

.... 

5.0 

5.0 

.... 

.... 

State Growth

 

 

 

 

 

Huntingfield Roundabout Improvements

.... 

4.5 

1.0 

.... 

.... 

Macquarie Point Urban Renewal

.... 

15.0 

30.0 

60.0 

125.0 

Northern Suburbs (Launceston) Community Recreation Hub Project

.... 

22.5 

5.0 

.... 

.... 

Targeting Congestion Package

.... 

5.6 

6.3 

6.0 

2.9 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

State Growth (continued)

 

 

 

 

 

Tasmanian AFL Package - High Performance Centre

.... 

10.0 

40.0 

10.0 

.... 

TMAG Building Maintenance

.... 

0.5 

1.0 

0.5 

.... 

 

.... 

58.1 

83.3 

76.5 

127.9 

TasTAFE

 

 

 

 

 

Freer Farm Centre of Excellence

.... 

1.5 

.... 

.... 

.... 

 

.... 

1.5 

.... 

.... 

.... 

Total Policy Decisions

(37.5)

(5.4)

21.3 

56.6 

137.2 

 

 

 

 

 

 

Parameter Adjustments

 

 

 

 

 

Education, Children and Young People

(18.4)

(10.1)

33.2 

27.8 

.... 

Finance-General

(8.5)

6.2 

(17.2)

2.0 

.... 

Health

(1.3)

0.4 

39.5 

12.1 

.... 

Justice

(36.7)

10.1 

16.0 

20.3 

.... 

Legislature-General

(0.1)

.... 

.... 

.... 

.... 

Marine and Safety Tasmania

(0.2)

(0.1)

(0.1)

(0.1)

.... 

Natural Resources and Environment Tasmania

(16.2)

(6.4)

(8.5)

24.4 

.... 

Office of the Governor

0.3 

.... 

.... 

.... 

.... 

Police, Fire and Emergency Management

8.5 

1.5 

2.5 

(4.6)

.... 

Premier and Cabinet

0.2 

.... 

.... 

.... 

.... 

Royal Tasmanian Botanical Gardens

.... 

(2.9)

.... 

3.3 

.... 

State Fire Commission

(1.0)

1.5 

1.8 

1.4 

.... 

State Growth

(185.7)

(121.5)

(164.4)

(97.6)

.... 

Tasmanian Audit Office

.... 

(0.4)

.... 

.... 

.... 

TasTAFE

(15.1)

(6.4)

(6.2)

(11.9)

.... 

Tourism Tasmania

0.5 

.... 

.... 

.... 

.... 

Treasury and Finance

(1.4)

0.6 

1.0 

.... 

.... 

Total Parameter Adjustments

(275.1)

(127.3)

(102.4)

(22.7)

.... 

 

 

 

 

 

 

Total Purchases of non‑financial assets from transactions (E)

(312.6)

(132.7)

(81.0)

33.9 

.... 


 

Table 4.5:         Policy and Parameter Statement, 2023‑24 to 2026‑27 (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Outcome 

Budget 

Estimate 

Estimate 

Estimate1 

 

$m 

$m 

$m 

$m 

$m 

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

 

 

 

 

 

Policy Decisions

 

 

 

 

 

Communities Tasmania

 

 

 

 

 

Transfer to Homes Tasmania2

(18.8)

(74.9)

(70.5)

(28.2)

(14.5)

Total Policy Decisions

(18.8)

(74.9)

(70.5)

(28.2)

(14.5)

 

 

 

 

 

 

Parameter Adjustments

(3.7)

10.8 

3.2 

7.1 

.... 

 

 

 

 

 

 

Less Total Sale of non‑financial assets from transactions (F)

(22.6)

(64.1)

(67.3)

(21.1)

.... 

 

 

 

 

 

 

Depreciation - Total Adjustments (G)

(10.4)

(49.1)

(50.6)

(56.2)

.... 

 

 

 

 

 

 

TOTAL NET ACQUISITION OF NON‑FINANCIAL ASSETS FROM TRANSACTIONS ADJUSTMENTS (H) (E - F - G)

(279.4)

(19.5)

36.9 

111.2 

.... 

 

 

 

 

 

 

FISCAL BALANCE (B + C - D - H)

(598.8)

(988.8)

(770.3)

(412.6)

(189.6)

 

 

 

 

 

 

 

 

 

 

 

 

Notes:

1.    Parameter adjustments for 2026‑27 are not reflected in the Table as the 2026‑27 Forward Estimate was not published in the 2022‑23 Budget. However, policy adjustments are reflected to show their full impact on the 2023‑24 Budget and Forward Estimates.

2.    Details on the restructure and abolition of the former Department of Communities Tasmania and the establishment of Homes Tasmania are provided in chapter 1 of Government Services Budget Paper No 2.

3.    The decrease in Duties in 2023‑24 reflects the Government’s decision to extend the First Home Buyer and Pensioner downsizing duty concessions for a further 12 months to 30 June 2024.

4.    The decrease in Land Tax reflects the Government’s decision to extend the land tax exemptions for new homes used for long‑term rental and short‑term visitor accommodation converted to long‑term rental for a further 12 months to 30 June 2024.

5.    An amount of $24 000 has been included in 2022‑23, $26 000 in 2023‑24 and 2024‑25, and $27 000 in 2025‑26.

6.    Additional information on the Budget Efficiency Dividend is provided in chapter 1 of this Budget Paper.

7.    This project was originally to be delivered by Metro Tasmania, however it has been reallocated to the Department of State Growth for delivery. Further information in relation to the project can be found in chapter 10 of Government Services Budget Paper No 2.

8.    This initiative has both a capital and an operating expenditure component.

9.    An amount of $25 000 has been included in 2023‑24 and 2024‑25 for Men’s Table.

10.  An amount of $30 000 has been included in 2023‑24 for the Flinders Island Boat Ramp Upgrade.

11.  An amount of $40 000 has been included in 2024‑25 and 2025‑26 for the Ben Lomond Ski Patrol.

12.  This initiative will be delivered by the Department of Premier and Cabinet in conjunction with Homes Tasmania.

13.  This initiative will be delivered by Homes Tasmania. Additional information is provided in chapter 28 of Government Services, Budget Paper No 2.

14.  The increase in Other primarily reflects adjustments to cost estimates associated with the State’s superannuation expense and liability.

15.  Additional funding is provided to progress upgrades to the Longford and Oatlands Ambulance stations.


 

In addition to the notes provided above, further information in relation to the 2023‑24 Budget and Forward Estimates and the variations detailed in the Policy and Parameter Statement is provided elsewhere in the Budget Papers. In particular:

·       Chapter 5 of this Budget Paper includes background information in relation to Budget revenue estimates including in relation to GST, other Australian Government funding, State Taxation and Dividend, tax and rate equivalent income;

·       Chapter 6 of this Budget Paper includes information on Government infrastructure investment; and

·       Government Services Budget Paper No 2 includes comprehensive information (including information on new funding allocations and the reasons for variations in expenditure across the Budget and Forward Estimates) on agency revenues, expenditure and investment in infrastructure.


 

Public Account Receipts and Expenditure Estimates

Tables 4.6 and 4.7 provide information for the total estimated Receipts and Expenditure of the Public Account for the 2023‑24 Budget and Forward Estimates period. Estimated receipts are categorised based on the source and nature of each receipt. Estimated expenditure is categorised by the relevant Authority for Expenditure from the Public Account as provided under the Financial Management Act 2016.

These tables meet the requirements of sections 19(1)(a) and 19(1)(b) of the Financial Management Act. General Government Sector financial statements required under section 19(1)(c) are published elsewhere in this chapter.

These tables reflect the gross cash receipts to, and expenditure from, the Public Account. As such, they do not include the impact of the elimination of inter‑entity transactions within the Public Account or whole‑of‑government investment and cash management activities within the Public Account. These transactions are fully reflected in General Government Statements and the key financial measures, including the Net Operating Balance, Fiscal Balance and Net Debt. Consequently, the receipts and expenditures detailed in the tables will not reconcile directly with those presented in the General Government Cash Flow Statement.

Table 4.6:         Public Account Receipts

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

General Receipts

 

 

 

 

 

 

Australian Government Sources

3 838.3 

4 411.0 

4 354.3 

4 403.7 

4 533.8 

4 709.7 

State Sources

2 191.0 

2 290.9 

2 244.6 

2 334.0 

2 441.7 

2 465.1 

 

6 029.3 

6 701.9 

6 595.9 

6 737.7 

6 975.5 

7 174.8 

 

 

 

 

 

 

 

Specific Purpose Accounts

3 376.9 

3 291.9 

3 383.7 

3 167.9 

2 803.7 

2 672.6 

 

 

 

 

 

 

 

Statutory Authorities

288.7 

305.1 

311.3 

314.9 

303.1 

310.8 

 

 

 

 

 

 

 

Total Receipts

9 695.0 

10 298.9 

10 293.9 

10 220.5 

10 082.3 

10 158.2 

 

 

 

 

 

 

 

 

 


 

Table 4.7:         Public Account Expenditure

 

2022‑23 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

Estimated 

 

Forward 

Forward 

Forward 

 

Budget 

Outcome 

Budget 

Estimate 

Estimate 

Estimate 

 

$m 

$m 

$m 

$m 

$m 

$m 

 

 

 

 

 

 

 

Annual Appropriation

 

 

 

 

 

 

Operating Services Expenditure

6 207.6 

6 325.6 

6 669.2 

6 611.1 

6 443.3 

6 589.4 

Capital Services Expenditure

828.9 

553.1 

776.5 

779.9 

693.6 

596.9 

 

7 036.5 

6 878.7 

7 445.6 

7 391.0 

7 136.9 

7 186.3 

 

 

 

 

 

 

 

Reserved by Law

465.0 

607.3 

439.4 

434.2 

444.9 

460.1 

 

 

 

 

 

 

 

Specific Purpose Accounts

3 394.8 

3 367.4 

3 316.7 

3 205.9 

2 764.4 

2 701.4 

 

 

 

 

 

 

 

Statutory Authorities

311.2 

301.2 

329.9 

328.9 

323.2 

314.2 

 

 

 

 

 

 

 

Other Provisions

(1.5)

(1.6)

(2.2)

(2.2)

(2.3)

(2.3)

 

 

 

 

 

 

 

Total Expenditure

11 205.9 

11 153.0 

11 529.5 

11 357.7 

10 667.0 

10 659.8 

 

 

 

 

 

 

 

 


 

Specific Purpose Accounts Estimated Receipts and Expenditure for 2023‑24

Table 4.8 provides estimated receipts and expenditure and associated balances for each Specific Purpose Account for 2023‑24, by agency. This table meets the requirement of section 17(10) of the FMA.

Table 4.8 provides information on the gross cash receipts to, and payments from, Specific Purpose Accounts and it does not include the elimination of inter‑entity transactions which are reflected in General Government Statements. Revenue and expenditure amounts do not, therefore, equal amounts in General Government Statements.

No estimates for receipts or payments from Agency Trust Accounts are included in the Public Account Statements presented in this Budget Paper.

Table 4.8:         Specific Purpose Accounts Estimated Receipts and Expenditure for 2023‑24

 

Estimated 

2023‑24 Budget 

Estimated 

 

Balance 

Estimates 

Balance1 

 

30 June 

 

30 June 

 

2023 

Receipts 

Expenditure 

2024 

 

$m 

$m 

$m 

$m 

Brand Tasmania

 

 

 

 

Agency Financial Management Account

0.2 

0.3 

0.3 

0.3 

Education, Children and Young People

 

 

 

 

Agency Financial Management Account

47.6 

79.3 

81.1 

45.8 

Department of Education School Banking Account

60.4 

124.0 

123.0 

61.3 

 

108.0 

203.3 

204.2 

107.1 

Environment Protection Authority

 

 

 

 

Agency Financial Management Account

15.8 

2.2 

2.8 

15.2 

Finance-General

 

 

 

 

Agency Financial Management Account

6.4 

64.6 

40.7 

30.3 

Australian Government Funding Management Account

288.5 

703.8 

657.0 

335.3 

Government Car Fleet Account

11.6 

50.2 

56.2 

5.6 

Rosetta Landslip Account

0.7 

0.1 

.... 

0.8 

Tasmanian Risk Management Fund

458.8 

169.0 

134.7 

493.1 

Unclaimed Money Account

59.2 

3.6 

0.4 

62.4 

 

825.2 

991.3 

889.0 

927.5 


 

Table 4.8:         Specific Purpose Accounts Estimated Receipts and Expenditure for 2023‑24 (continued)

 

Estimated 

2023‑24 Budget 

Estimated 

 

Balance 

Estimates 

Balance1 

 

30 June 

 

30 June 

 

2023 

Receipts 

Expenditure 

2024 

 

$m 

$m 

$m 

$m 

Health

 

 

 

 

Agency Financial Management Account

169.8 

1 000.7 

1 027.8 

142.7 

Private Patient Account

15.6 

33.0 

33.5 

15.1 

 

185.4 

1 033.8 

1 061.3 

157.9 

House of Assembly

 

 

 

 

Agency Financial Management Account

.... 

0.1 

0.1 

.... 

Integrity Commission

 

 

 

 

Agency Financial Management Account

0.1 

.... 

.... 

0.1 

Justice

 

 

 

 

Agency Financial Management Account

35.0 

68.5 

70.9 

32.6 

Asbestos Compensation Fund

26.0 

8.6 

7.7 

26.9 

Local Government and Other Elections Account

.... 

0.4 

0.4 

.... 

Workers Rehabilitation and Compensation Fund

4.2 

10.2 

10.2 

4.2 

 

65.3 

87.7 

89.3 

63.7 

Legislative Council

 

 

 

 

Agency Financial Management Account

.... 

0.1 

0.1 

.... 

Legislature-General

 

 

 

 

Agency Financial Management Account

0.1 

0.7 

0.7 

0.1 

Ministerial and Parliamentary Support

 

 

 

 

Agency Financial Management Account

0.5 

1.7 

1.7 

0.5 

Natural Resources and Environment Tasmania

 

 

 

 

Agency Financial Management Account

39.2 

86.2 

89.0 

36.4 

Crown Lands Administration Fund

53.5 

7.0 

6.3 

54.2 

Tasmanian Forests Agreement Account

2.1 

.... 

.... 

2.1 

Waste and Resource Recovery Account

.... 

8.0 

8.0 

.... 

 

94.8 

101.2 

103.3 

92.7 

Office of the Director of Public Prosecutions

 

 

 

 

Agency Financial Management Account

2.3 

0.9 

0.9 

2.3 

Office of the Governor

 

 

 

 

Agency Financial Management Account

0.1 

0.3 

0.2 

0.2 

Office of the Ombudsman

 

 

 

 

Agency Financial Management Account

0.3 

0.6 

0.6 

0.3 


 

Table 4.8:         Specific Purpose Accounts Estimated Receipts and Expenditure for 2023‑24 (continued)

 

Estimated 

2023‑24 Budget 

Estimated 

 

Balance 

Estimates 

Balance1 

 

30 June 

 

30 June 

 

2023 

Receipts 

Expenditure 

2024 

 

$m 

$m 

$m 

$m 

Police, Fire and Emergency Management

 

 

 

 

Agency Financial Management Account

7.7 

168.4 

166.2 

9.8 

Premier and Cabinet

 

 

 

 

Agency Financial Management Account

22.7 

63.3 

65.6 

20.4 

State Growth

 

 

 

 

Agency Financial Management Account

58.4 

703.6 

706.5 

55.5 

Tasmanian Audit Office

 

 

 

 

Agency Financial Management Account

2.8 

7.5 

7.5 

2.8 

Tourism Tasmania

 

 

 

 

Agency Financial Management Account

.... 

0.7 

0.7 

.... 

Treasury and Finance

 

 

 

 

Agency Financial Management Account

9.6 

16.2 

15.9 

9.9 

 

 

 

 

 

Total Specific Purpose Accounts

1 399.3 

3 383.7 

3 316.7 

1 466.3 

 

 

 

 

 

Note:

1.    Minor differences between totals and sums of components reflect rounding.