11    Department of Treasury and Finance

Agency Outline

The Department of Treasury and Finance is responsible to the Treasurer, Hon Michael Ferguson MP.

Treasury provides the Government with objective advice on the economic and financial management of Tasmania. Treasury also implements Government policies and programs, and performs analysis, monitoring and reporting functions on behalf of the Government.

Treasury undertakes various activities including:

·       monitoring and analysing trends in economic conditions and forecasting economic parameters for Tasmania;

·       preparing and monitoring the State Budget, managing the Public Account and providing advice on financial and resource management in the public sector, taking into account the Government’s strategies and priorities;

·       monitoring and providing advice on the performance and management of government businesses;

·       managing the Government’s office accommodation portfolio, managing insurable risks of agencies, managing property sales and whole‑of‑government procurement;

·       providing policy advice on regulatory and financial issues, intergovernmental financial relations and State taxation issues and State taxation collection on behalf of the Commissioner of State Revenue; and

·       supporting the Tasmanian Economic Regulator, the State Grants Commission, the Tasmanian Liquor and Gaming Commission, the Commissioner for Licensing, the Commissioner of State Revenue and the Superannuation Commission to carry out their statutory, regulatory and other functions.

This chapter provides the Department’s financial information for 2023‑24 and over the Forward Estimates (2024‑25 to 2026‑27). Further information on the Department is provided at www.treasury.tas.gov.au.


 

Key Deliverables

Table 11.1 provides a summary of the Budget and Forward Estimates allocations for key deliverables being undertaken by the Department.

Table 11.1:       Key Deliverables Statement

 

2023‑24

 

Budget

2024‑25

Forward

Estimate

2025‑26

Forward

Estimate

2026‑27

Forward

Estimate

 

$'000

$'000

$'000

$'000

 

 

 

 

 

Commonwealth Grants Commission 2025 Methodology Review1

388

....

....

....

eInvoicing Adoption by Tasmanian Government Agencies2

283

16

16

16

Expansion of the House of Assembly to 35 Members - Office Accommodation3

1 670

1 720

....

....

Financial Management System Upgrade (CiAnywhere Project)

135

....

....

....

Energy Bill Relief Fund3

11 375

34 025

....

....

Player Card Gaming System1

425

....

....

....

Public Account Reporting and Management Information System2,4

909

928

....

....

 

 

 

 

 

Notes:

1.    This initiative will be funded from the reallocation of existing resources of the Department.

2.    This initiative is a continuation of funding provided in previous budgets.

3.    This initiative is funded through Finance-General.

4.    This initiative is funded from the Digital Transformation Priority Expenditure Program in Finance‑General.

Commonwealth Grants Commission 2025 Methodology Review

The Goods and Services Tax is distributed to the States on the basis of Horizontal Fiscal Equalisation, which is administered by the Commonwealth Grants Commission. Every five years, the CGC conducts a comprehensive review of its methodology. Changes in the CGC’s methodology have the potential to reallocate millions of dollars of GST between jurisdictions. The opportunity to actively participate in the review is critically important for the State, with GST being the largest single revenue source for Tasmania. The 2025 Methodology Review is wide ranging and resource intensive. In order to minimise the risks to Tasmania from any changes to the distribution methodology, a dedicated project team has been established in Treasury to respond to the 2025 Methodology Review. The Methodology Review will be completed by February 2025.

eInvoicing Adoption by Tasmanian Government Agencies

Funding has been provided for Treasury to continue as the lead agency to support the introduction of eInvoicing across Tasmanian Government Agencies by 1 July 2025.

Treasury will adopt eInvoicing in 2023‑24 and then provide support to other agencies including:

·       education and awareness building;

·       the central procurement of a Peppol Access Point provider;

·       coordination of a whole‑of‑government adoption plan;

·       post-implementation testing and support;

·       support with supplier outreach; and

·       support with policy documentation.

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

Funding is allocated in 2023‑24 and 2024‑25 to support the procurement process and construction works associated with the office accommodation fit‑out works within the Salamanca Building to accommodate the additional ten members for the Expansion of the House of Assembly to 35 Members.

Financial Management System Upgrade (CiAnywhere Project)

This funding will complete the second stage of an upgrade of the Department’s Financial Management Information System by modernising accounts payable workflows to gain efficiencies; reduce risks and improve auditable controls in preparation for the implementation of eInvoicing; and provide tools to more efficiently manage the Government’s office accommodation portfolio.

Energy Bill Relief Fund

The State is partnering with the Australian Government to deliver targeted and temporary relief on electricity bills to eligible Tasmanian households and small businesses. The costs of the program will be equally shared between the State and the Australian Governments. The 2023-24 Budget includes Tasmania’s estimated contribution of $11.375 million in 2023‑24 and $34.025 million in 2024‑25.

Player Card Gaming System and Pre-commitment Scheme

The Government announced the introduction of a statewide cashless player card gaming system with pre‑commitment for electronic gaming machines across all hotels, clubs and casinos. The policy is to be implemented by the end of 2024. System design, development and implementation planning will be undertaken throughout 2023‑24.

Public Account Reporting and Management Information System

This funding will progress the next stage of the replacement of the Department’s whole‑of‑government budgeting and financial reporting system with tools to improve the financial analysis, monitoring of the cash status, and reporting functions of the Public Account. The project is funded from the Digital Transformation Priority Expenditure Program in Finance-General.


 

Output Group Restructure

Effective from 1 October 2022, the Department was restructured in accordance with State Service (Restructuring) Order (No. 6) 2022, with Renewables, Climate and Future Industries Tasmania amalgamating with the Department of State Growth.

At an output level, the restructure has resulted in:

·       the former Output Group 5 - Renewables, Climate and Future Industries Tasmania being abolished;

·       the former Output 5.1 Climate Change being abolished, with funding transferring to the Department of State Growth; and

·       the former Output 5.2 Energy and Renewables being abolished, with funding transferring to the Department of State Growth.

The 2023‑24 Budget Papers reflect the new Output structure. The 2022‑23 Budget has been amended to reflect the restructure.

Output Information

Outputs of the Department of Treasury and Finance are provided under the following Output Groups:

·       Output Group 1 ‑ Financial and Resource Management Services;

·       Output Group 2 ‑ Economic and Fiscal Policy Advice;

·       Output Group 3 ‑ Revenue, Superannuation and Regulatory Management Services; and

·       Output Group 4 ‑ Community Assistance.

Table 11.2 provides an Output Group Expense Summary for the Department.


 

Table 11.2:       Output Group Expense Summary

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Treasurer

 

 

 

 

 

 

 

 

 

 

 

Output Group 1 - Financial and Resource Management Services

 

 

 

 

 

1.1 Budget Development and Management

3 946 

3 761 

3 879 

4 051 

4 119 

1.2 Financial Management and Accounting Services

4 964 

4 837 

4 984 

5 207 

5 295 

1.3 Shareholder Advice on Government Businesses1

2 727 

3 591 

3 729 

3 912 

3 995 

1.4 Government Property and Accommodation Services

2 383 

2 551 

2 504 

2 532 

2 568 

1.5 Government Procurement Services2

3 306 

4 007 

4 310 

4 687 

3 907 

 

17 326 

18 747 

19 406 

20 389 

19 884 

Output Group 2 - Economic and Fiscal Policy Advice

 

 

 

 

 

2.1 Economic Policy Advice

1 964 

2 217 

2 295 

2 416 

2 463 

2.2 Regulatory Policy

4 286 

4 014 

3 688 

3 842 

3 878 

2.3 Intergovernmental Financial Matters3

2 448 

2 903 

2 980 

3 126 

3 206 

 

8 698 

9 134 

8 963 

9 384 

9 547 

Output Group 3 - Revenue, Superannuation and Regulatory Management Services

 

 

 

 

 

3.1 Tax Administration and Revenue Collection

8 016 

8 216 

8 468 

8 845 

9 002 

3.2 Regulation and Administration of Liquor and Gaming4

5 469 

6 288 

6 359 

6 657 

6 774 

3.3 Economic Regulation

1 871 

1 931 

2 000 

2 061 

2 122 

3.4 Office of the Superannuation Commission

13 131 

13 607 

13 770 

14 009 

14 083 

3.5 Administration of Grants, Subsidies and Concessions

1 719 

1 586 

1 636 

1 711 

1 732 

 

30 206 

31 628 

32 233 

33 283 

33 713 

Output Group 4 - Community Assistance

 

 

 

 

 

4.1 Public Trustee Community Service Obligation5

4 501 

4 539 

4 457 

4 474 

3 474 

4.2 Community Support Fund6

4 180 

8 360 

8 360 

8 360 

8 360 

 

8 681 

12 899 

12 817 

12 834 

11 834 

 

 

 

 

 

 

Minister for Energy and Renewables

 

 

 

 

 

 

 

 

 

 

 

Output Group 5 - Renewables, Climate and Future Industries Tasmania

 

 

 

 

 

5.2 Energy and Renewables7

3 347 

.... 

.... 

.... 

.... 

 

3 347 

.... 

.... 

.... 

.... 

 

 

 

 

 

 


 

Table 11.2:       Output Group Expense Summary (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Minister for Environment and Climate Change

 

 

 

 

 

 

 

 

 

 

 

Output Group 5 - Renewables, Climate and Future Industries Tasmania

 

 

 

 

 

5.1 Climate Change7

893 

.... 

.... 

.... 

.... 

 

893 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

TOTAL

69 151 

72 408 

73 419 

75 890 

74 978 

 

 

 

 

 

 

Notes:

1.    The increase in Shareholder Advice on Government Businesses from 2023‑24 reflects the retention of some energy policy functions within Treasury following the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

2.    The increase in Government Procurement Services from 2023‑24 to 2025‑26 reflects funding for the 2022‑23 Budget Transition to Electric Vehicles initiative, with funding expected to be utilised for procurement-related activities including a continued program of investment in charging infrastructure.

3.    The increase in Intergovernmental Financial Matters is due to additional resources allocated for functions including the Commonwealth Grants Commission 2025 Methodology Review.

4.    The increase in Regulation and Administration of Liquor and Gaming reflects the commencement of the new gaming licensing arrangements from 1 July 2023.

5.    This Output reflects funding provided for both the Public Trustee CSO and initial funding provided in the 2022‑23 Budget to support the implementation of recommendations from the Independent Review. The decrease in 2026‑27 reflects the completion of the initial Review implementation funding.

6.    The increase in Community Support Fund from 2023‑24 reflects legislative amendments under the Government's Future Gaming Market policy.

7.    The decrease in Energy and Renewables, and Climate Change reflects the transfer of functions associated with the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

 


 

Output Group 1:    Financial and Resource Management Services

1.1 Budget Development and Management

This Output includes management of the State Budget process, the provision of advice on budgetary issues and monitoring of the State’s financial performance against the Government’s Fiscal Strategy.

1.2 Financial Management and Accounting Services

This Output includes whole‑of‑government financial management activities and the provision of advice on financial management and reform, consistent with the Government’s strategies and priorities. It supports a range of services relating to the management of financial assets and liabilities, associated risk mitigation strategies and the preparation of whole‑of‑government financial and statistical reports.

1.3 Shareholder Advice on Government Businesses

This Output includes monitoring and provision of advice on government businesses. This includes the provision of advice on reforms, major projects and policies relating to the Government’s ownership of businesses. It also includes engagement with international credit rating agencies and the provision of support to the Treasurer on energy pricing related matters.

1.4 Government Property and Accommodation Services

This Output covers the administration of, and provision of advice in relation to, Government property and office accommodation services, including the management of government‑owned and leased office buildings and the disposal of surplus Crown property.

1.5 Government Procurement Services

This Output includes the provision of advice in relation to Government procurement activities, the management of whole‑of‑government contracts, the administration of the Tasmanian Risk Management Fund and other insurance‑related matters.


 

Table 11.3:       Performance Information - Output Group 1

Performance Measure

Unit of

 Measure

2020‑21 Actual

2021‑22 Actual

2022‑23 Target

2023‑24 Target

 

 

 

 

 

 

Financial and Resource Management Services

 

 

 

 

 

 

 

 

 

 

 

Stakeholder satisfaction rating1

%

na

na

>90

>90

Proportion of financial reports receiving an unqualified audit opinion2

%

100

100

100

100

Treasury‑managed property vacancy rate3

%

2.9

0.6

<1.5

<1.5

State Service workers’ compensation contribution as a percentage of the average premium charged by private insurers4

%

107

123

<100

<100

Proportion of financial reports published by the required date5

%

100

100

100

100

Variance between Budget estimate and actual

 

 

 

 

 

GBE/SOC returns6

%

4.1

0.8

<5.0

<5.0

 

 

 

 

 

 

Notes:

1.    The satisfaction rating of the quality of Treasury’s services is obtained from the results of Treasury’s Stakeholder Survey. Treasury’s Stakeholder Survey was most recently completed in August 2018 for 2017‑18 and is scheduled to next be completed in the first half of 2023.

2.    An unqualified audit opinion from the Auditor‑General indicates that the financial reports are a true and accurate reflection of the Government’s finances.

3.    The vacancy rate is the proportion of all owned and leased office space managed by Treasury that is currently vacant and available for occupation. The introduction of the Financial Management Act 2016 and AASB 16 Leases significantly increased the size of the portfolio managed by Treasury with the transfer of leases from agencies.

4.    The Tasmanian Risk Management Fund includes a self-insurance scheme for the workers’ compensation liabilities of participating agencies. An indication of the Government’s management of workers’ compensation claims may be obtained by comparing the workers’ compensation contributions paid by agencies to the Fund with the workers’ compensation premiums charged by private insurers. The measure is calculated by comparing average agency workers’ compensation contributions, as a proportion of salaries, with the average premium rate of private insurers. The Fund’s performance against the indicator in 2021‑22 has worsened, primarily due to a material increase in the Fund’s contribution rate. This increase may partly reflect changes to the Workers Rehabilitation and Compensation Act 1988 that apply to the public sector only.

5.    The whole-of-government financial reports published in 2021‑22 were the Preliminary Outcomes Report 2020‑21, the Treasurer’s Annual Financial Report 2020‑21, the September Quarterly Report 2021‑22, the December Quarterly Report 2021‑22 and the March Quarterly Report 2021‑22.

6.    Returns from Government Business Enterprises and State-owned Companies comprise dividends, income tax equivalent payments, rate equivalent payments and guarantee fees. The actuals for 2020‑21 and 2021‑22 reflect final outcomes as published in the Treasurer’s Annual Financial Report 2021‑22.

 


 

Output Group 2:    Economic and Fiscal Policy Advice

2.1 Economic Policy Advice

This Output relates to the provision of advice on international, national and Tasmanian economic conditions and developments and forecasting economic trends in the Tasmanian economy. It also includes the provision of advice on economic and reform issues, including inter-jurisdictional and national economic policy initiatives.

2.2 Regulatory Policy

This Output includes the provision of advice relating to the regulation and taxation of gambling activities and regulation of the sale, supply, promotion and consumption of liquor, State revenue policy, subordinate legislation and the legislation review program.

2.3 Intergovernmental Financial Matters

This Output relates to the provision of advice on all intergovernmental financial matters, including support to the State Grants Commission.

Table 11.4:       Performance Information - Output Group 2

Performance Measure

Unit of

 Measure

2020‑21 Actual

2021‑22 Actual

2022‑23 Target

2023‑24 Target

 

 

 

 

 

 

Economic and Fiscal Policy Advice

 

 

 

 

 

Stakeholder satisfaction rating1

%

na

na

>90

>90

Variance between Budget estimate and actual taxation receipts2

%

13.3

7.1                                                          

<5.0

<5.0

Variance between Budget estimate and actual Australian Government payments3

%

5.7

9.0

<5.0

<5.0

Variance between Budget forecast and ABS estimate of gross state product growth4

% pts

6.5

0.3

<1.0

<1.0

Variance between Budget forecast and ABS estimate of employment growth4

% pts

4.1

1.0

<1.0

<1.0

 

 

 

 

 

 

Notes:

1.    The satisfaction rating of the quality of Treasury’s services is obtained from the results of Treasury’s Stakeholder Survey. Treasury’s Stakeholder Survey was most recently completed in August 2018 for 2017‑18 and is scheduled to next be completed in the first half of 2023.

2.    The accuracy of Treasury’s taxation receipts forecasts can be determined by comparing the State Budget estimate with the actual end of year outcome. The actual figures reflect the audited outcomes from the Treasurer’s Annual Financial Report for 2020‑21 and 2021‑22.

3.    The accuracy of Treasury’s Australian Government payments forecasts can be determined by comparing the State Budget estimate with the actual end of year outcome. The actual figures reflect the audited outcomes from the Treasurer’s Annual Financial Report for 2020‑21 and 2021‑22.

4.    The accuracy of Treasury’s gross state product and employment growth forecast for the financial years prior to 2021‑22 is determined by comparing the relevant Budget forecast with the most recent estimates of growth for the financial year, published by the Australian Bureau of Statistics. Each November, the ABS revises its estimates of GSP growth, while estimations of employment growth are revised each month.

 

Output Group 3:    Revenue, Superannuation and Regulatory Management Services

3.1 Tax Administration and Revenue Collection

This Output comprises the administration of taxation legislation and the collection of State taxation, including monitoring the compliance of taxpayers with State revenue legislation.

3.2 Regulation and Administration of Liquor and Gaming

This Output provides for the regulation and control of liquor licensing, casino gaming, gaming machines, keno, totalizators, online gaming and minor gaming. It includes the provision of support to the Commissioner for Licensing in discharging the Commissioner’s statutory functions under the Liquor Licensing Act 1990 and the Tasmanian Liquor and Gaming Commission in the discharge of its statutory functions under the Liquor Licensing Act and the Gaming Control Act 1993.

3.3 Economic Regulation

This Output comprises the provision of support to the Tasmanian Economic Regulator in the exercise of its statutory functions which includes the regulation of some activities within the State’s electricity supply industry, economic regulation of the State’s water and sewerage industry, undertaking pricing investigations, pricing inquiries at the request of the Government and investigating competitive neutrality complaints.

3.4 Office of the Superannuation Commission

This Output comprises the provision of support to the Superannuation Commission in undertaking statutory functions under the Public Sector Superannuation Reform Act 2016; the Public Sector Superannuation Reform Regulations 2017; and the Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations 2016.

3.5 Administration of Grants, Subsidies and Concessions

This Output includes the administration of unclaimed money and various grants, subsidies and concessions to the Tasmanian community. The Government is committed to providing assistance to the Tasmanian community, including HomeBuilder assistance, First Home Owner Grants, duty concessions, local government rates remission, electricity and water and sewerage concessions, and tax rebates and exemptions.

 


 

Table 11.5:       Performance Information - Output Group 3

Performance Measure

Unit of

 Measure

2020‑21 Actual

2021‑22 Actual

2022-23 Target

2023‑24 Target

 

 

 

 

 

 

Revenue, Superannuation and Regulatory Management Services

 

 

 

 

 

Stakeholder satisfaction rating1

%

na

na

>90

>90

Total overdue taxation debt as a percentage of total taxation revenue2

%

1.2

2.6

<0.8

<0.8

Percentage of ‘Grounds for Disciplinary Action’ Papers submitted to the Tasmanian Liquor and Gaming Commission that result in disciplinary action being taken by the Commission3

%

na

na

>90

>90

Percentage of objections in which the Commissioner of State Revenue’s assessment or decision was confirmed4

%

78

46.7

>60

>60

Revenue Branch operating expenses as a percentage of taxation revenue5

%

0.7

0.6

<1.5

<1.5

Percentage of liquor applications submitted to the Commissioner for Licensing within 40 days of advertising6

%

91

94.3

>95

>95

Number of complaints received by the Superannuation Commission7

Number

35

36

<50

<50

 

 

 

 

 

 

Notes:

1.    The satisfaction rating of the quality of Treasury’s services is obtained from the results of Treasury’s Stakeholder Survey. Treasury’s Stakeholder Survey was most recently completed in August 2018 for 2017‑18 and is scheduled to next be completed in the first half of 2023.

2.    The State Revenue Office seeks to ensure that taxpayers are well informed of their obligations and that tax debt stress and overdue taxation debts are minimised. Accordingly, the target is for overdue taxation debt to be a very small percentage of total taxation revenue.

3.    This new measure will identify the percentage of disciplinary matters the Tasmanian Liquor and Gaming Commission takes action on, after having been referred an alleged contravention of the Gaming Control Act by Treasury for determination.

4.    Objections may be lodged against assessments issued to taxpayers or decisions of the Commissioner, Deputy Commissioner or a delegate of the Commissioner. Treasury seeks to ensure that the original assessments and decisions are accurate. All objections are internally reviewed in the first instance to initially clarify their validity. Only those regarded as valid progress to be determined under the objection process.

5.    An indication of the efficiency of the revenue management services provided by Treasury can be gained by comparing total taxation revenue collected with the operating costs required to administer and collect that revenue.

6.    Treasury assists the Commissioner for Licensing by receiving applications for licences, undertaking investigations and providing information to the Commissioner to assist in the determination of whether a licence applicant is qualified in accordance with the requirements of the Liquor Licensing Act.

7.    The Superannuation Commission has a structured and formal complaint mechanism, for which there is no charge to members (details are available at www.rbf.com.au). External disputes of the handling of complaints are addressed by the Tasmanian Ombudsman.

 

Output Group 4:    Community Assistance

4.1 Public Trustee Community Service Obligation

This Output comprises the payment of the Community Service Obligation to the Public Trustee for the provision of trustee services to eligible clients. It also includes additional funding provided in the 2022‑23 Budget, over four years, to support the Public Trustee to implement the recommendations from the Independent review.

4.2 Community Support Fund

This Output comprises the collection and disbursement of funds from the Community Support Fund imposed on the gross profits from electronic gaming machines in hotels, clubs and casinos, and any direct contribution from Government or the Licensed Monitoring Operator.

 


 

Detailed Budget Statements

Table 11.6:       Statement of Comprehensive Income

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Revenue and other income

 

 

 

 

 

Appropriation revenue - operating

58 643 

57 961 

58 518 

60 859 

61 394 

Grants1

1 905 

909 

928 

.... 

.... 

Fees and fines2

8 632 

12 981 

13 031 

13 149 

13 163 

Other revenue

678 

781 

872 

903 

957 

Total revenue

69 858 

72 632 

73 349 

74 911 

75 514 

Total income

69 858 

72 632 

73 349 

74 911 

75 514 

 

 

 

 

 

 

Expenses

 

 

 

 

 

Employee benefits

42 093 

42 413 

43 300 

45 620 

46 797 

Depreciation and amortisation

979 

848 

1 013 

937 

874 

Supplies and consumables

10 381 

9 338 

9 379 

9 571 

8 513 

Grants and subsidies3

8 663 

12 614 

12 525 

12 542 

11 542 

Other expenses

7 035 

7 195 

7 202 

7 220 

7 252 

Total expenses

69 151 

72 408 

73 419 

75 890 

74 978 

 

 

 

 

 

 

Net result

707 

224 

(70)

(979)

536 

 

 

 

 

 

 

Other comprehensive income

 

 

 

 

 

Other movements taken directly to equity4

(1 479)

.... 

.... 

.... 

.... 

Total other comprehensive income

(1 479)

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Comprehensive result

(772)

224 

(70)

(979)

536 

 

 

 

 

 

 

Notes:

1.    The variation in Grants reflects the timing of the allocation of funding from the Government for the Public Account Reporting and Management Information System Project and the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

2.    The increase in Fees and fines in 2023‑24 reflects estimated increases in receipts to the Community Support Fund due to legislative amendments under the Government’s Future Gaming Market Policy.

3.    The increase in Grants and subsidies in 2023‑24 reflects increased payments from the Community Support Fund from 2023‑24.

4.    The increase in Other movements taken directly to equity reflects the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

 


 

Table 11.7:       Statement of Comprehensive Income - Administered

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Administered revenue and other income

 

 

 

 

 

Fees and fines

1 595 

1 683 

1 702 

1 720 

1 738 

Total administered revenue

1 595 

1 683 

1 702 

1 720 

1 738 

Total administered income

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

Administered expenses

 

 

 

 

 

Transfers to the Public Account

1 595 

1 683 

1 702 

1 720 

1 738 

Total administered expenses

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

Administered net result

.... 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Administered comprehensive result

.... 

.... 

.... 

.... 

.... 

 

 

 

 

 

 


 

Table 11.8:       Revenue from Appropriation by Output

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Treasurer

 

 

 

 

 

 

 

 

 

 

 

Output Group 1 - Financial and Resource Management Services

 

 

 

 

 

1.1 Budget Development and Management

3 562 

3 677 

3 788 

3 965 

4 174 

1.2 Financial Management and Accounting Services

4 787 

4 633 

4 517 

4 744 

5 003 

1.3 Shareholder Advice on Government Businesses1

2 664 

3 428 

3 552 

3 731 

3 937 

1.4 Government Property and Accommodation Services

2 233 

2 375 

2 321 

2 348 

2 465 

1.5 Government Procurement Services2

783 

1 330 

1 607 

1 889 

965 

 

14 029 

15 443 

15 785 

16 677 

16 544 

Output Group 2 - Economic and Fiscal Policy Advice

 

 

 

 

 

2.1 Economic Policy Advice

1 919 

2 168 

2 241 

2 365 

2 497 

2.2 Regulatory Policy

4 113 

3 899 

3 565 

3 722 

3 897 

2.3 Intergovernmental Financial Matters3

2 388 

2 839 

2 911 

3 061 

3 249 

 

8 420 

8 906 

8 717 

9 148 

9 643 

Output Group 3 - Revenue, Superannuation and Regulatory Management Services

 

 

 

 

 

3.1 Tax Administration and Revenue Collection

7 856 

8 039 

8 275 

8 654 

9 123 

3.2 Regulation and Administration of Liquor and Gaming4

5 135 

6 007 

6 058 

6 358 

6 697 

3.4 Office of the Superannuation Commission

13 006 

13 484 

13 635 

13 880 

14 164 

3.5 Administration of Grants, Subsidies and Concessions

1 683 

1 543 

1 591 

1 668 

1 749 

 

27 680 

29 073 

29 559 

30 560 

31 733 

Output Group 4 - Community Assistance

 

 

 

 

 

4.1 Public Trustee Community Service Obligation

4 501 

4 539 

4 457 

4 474 

3 474 

 

4 501 

4 539 

4 457 

4 474 

3 474 

 

 

 

 

 

 

Operating Services

54 630 

57 961 

58 518 

60 859 

61 394 

 

54 630 

57 961 

58 518 

60 859 

61 394 

 

 

 

 

 

 

Minister for Energy and Renewables

 

 

 

 

 

 

 

 

 

 

 

Output Group 5 - Renewables, Climate and Future Industries Tasmania

 

 

 

 

 

5.2 Energy and Renewables5

3 120 

.... 

.... 

.... 

.... 

 

3 120 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Operating Services

3 120 

.... 

.... 

.... 

.... 

 

3 120 

.... 

.... 

.... 

.... 

 

 

 

 

 

 


 

Table 11.8:       Revenue from Appropriation by Output (continued)

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

Minister for Environment and Climate Change

 

 

 

 

 

 

 

 

 

 

 

Output Group 5 - Renewables, Climate and Future Industries Tasmania

 

 

 

 

 

5.1 Climate Change5

893 

.... 

.... 

.... 

.... 

 

893 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Operating Services

893 

.... 

.... 

.... 

.... 

 

893 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Department of Treasury and Finance

 

 

 

 

 

Total Operating Services

58 643 

57 961 

58 518 

60 859 

61 394 

 

58 643 

57 961 

58 518 

60 859 

61 394 

 

 

 

 

 

 

Total Revenue from Appropriation

58 643 

57 961 

58 518 

60 859 

61 394 

 

 

 

 

 

 

Controlled Revenue from Appropriation

58 643 

57 961 

58 518 

60 859 

61 394 

 

58 643 

57 961 

58 518 

60 859 

61 394 

 

 

 

 

 

 

Notes:

1.    The increase in Shareholder Advice on Government Businesses from 2023‑24 reflects the retention of some energy policy functions within Treasury following the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

2.    The variation in Government Procurement Services reflects funding for the 2022‑23 Budget Transition to Electric Vehicles initiative, with funding expected to be utilised for procurement-related activities including a continued program of investment in charging infrastructure.

3.    The increase in Intergovernmental Financial Matters from 2023‑24 reflects additional resources allocated for functions including the Commonwealth Grants Commission 2025 Methodology Review.

4.    The increase in Regulation and Administration of Liquor and Gaming reflects the commencement of the new gaming licensing arrangements from 1 July 2023.

5.    The decrease in Energy and Renewables, and Climate Change reflects the transfer of functions associated with the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.

 


 

Table 11.9:       Administered Revenue

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Revenue Collected on Behalf of the Public Account

 

 

 

 

 

Other Regulatory Fees

1 595 

1 683 

1 702 

1 720 

1 738 

 

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

Total Administered Revenue

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

 

Table 11.10:      Administered Expenses

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Transfers to the Public Account

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

Total Administered Expenses

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 


 

Table 11.11:      Statement of Financial Position as at 30 June

 

2023 

2024 

2025 

2026 

2027 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Assets

 

 

 

 

 

Financial assets

 

 

 

 

 

Cash and deposits

9 965 

9 909 

10 233 

10 522 

10 535 

Receivables

257 

398 

415 

437 

462 

Other financial assets

792 

727 

741 

755 

770 

 

11 014 

11 034 

11 389 

11 714 

11 767 

 

 

 

 

 

 

Non-financial assets

 

 

 

 

 

Property, plant and equipment

652 

427 

371 

331 

302 

Heritage and cultural assets1

155 

410 

410 

410 

410 

Intangibles

8 169 

7 462 

7 550 

6 771 

6 045 

Other assets

577 

608 

616 

624 

632 

 

9 553 

8 907 

8 947 

8 136 

7 389 

 

 

 

 

 

 

Total assets

20 567 

19 941 

20 336 

19 850 

19 156 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Payables

852 

861 

866 

871 

876 

Employee benefits2

11 215 

11 302 

11 762 

12 250 

11 015 

Other liabilities

59 

58 

58 

58 

58 

Total liabilities

12 126 

12 221 

12 686 

13 179 

11 949 

 

 

 

 

 

 

Net assets (liabilities)

8 441 

7 720 

7 650 

6 671 

7 207 

 

 

 

 

 

 

Equity

 

 

 

 

 

Contributed capital3

(1 479)

.... 

.... 

.... 

.... 

Reserves

11 

266 

266 

266 

266 

Accumulated funds

9 909 

7 454 

7 384 

6 405 

6 941 

Total equity

8 441 

7 720 

7 650 

6 671 

7 207 

 

 

 

 

 

 

Notes:

1.    The increase in Heritage and cultural assets in 2023‑24 reflects the revaluation of heritage assets.

2.    The decrease in Employee benefits 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.

3.    The variation in Contributed capital reflects the transfer of net assets to the Department of State Growth in relation to the amalgamation of Renewables, Climate and Future Industries Tasmania with the Department of State Growth from 1 October 2022.


 

Table 11.12:      Statement of Cash Flows

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

Cash inflows

 

 

 

 

 

Appropriation receipts - operating

58 643 

57 961 

58 518 

60 859 

61 394 

Grants

1 905 

909 

928 

.... 

.... 

Fees and fines

8 616 

12 951 

12 999 

13 113 

13 123 

GST receipts

1 600 

1 600 

1 600 

1 600 

1 600 

Other cash receipts

678 

781 

872 

903 

957 

Total cash inflows

71 442 

74 202 

74 917 

76 475 

77 074 

 

 

 

 

 

 

Cash outflows

 

 

 

 

 

Employee benefits

(36 596)

(36 709)

(37 205)

(39 084)

(41 645)

Superannuation

(5 149)

(5 421)

(5 633)

(6 048)

(6 387)

GST payments

(1 600)

(1 600)

(1 600)

(1 600)

(1 600)

Grants and subsidies

(8 663)

(12 614)

(12 525)

(12 542)

(11 542)

Supplies and consumables

(10 381)

(9 340)

(9 381)

(9 573)

(8 516)

Other cash payments

(7 035)

(7 195)

(7 202)

(7 220)

(7 252)

Total cash outflows

(69 424)

(72 879)

(73 546)

(76 067)

(76 942)

 

 

 

 

 

 

Net cash from (used by) operating activities

2 018 

1 323 

1 371 

408 

132 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

Payments for acquisition of non-financial assets

(1 773)

(1 028)

(1 047)

(119)

(119)

Equity injections and cash flows from restructuring

(1 437)

.... 

.... 

.... 

.... 

Net cash from (used by) investing activities

(3 210)

(1 028)

(1 047)

(119)

(119)

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents held

(1 192)

295 

324 

289 

13 

 

 

 

 

 

 

Cash and deposits at the beginning of the reporting period

11 157 

9 614 

9 909 

10 233 

10 522 

Cash and deposits at the end of the reporting period

9 965 

9 909 

10 233 

10 522 

10 535 

 

 

 

 

 

 


 

Table 11.13:      Statement of Cash Flows - Administered

 

2022‑23 

2023‑24 

2024‑25 

2025‑26 

2026‑27 

 

 

 

Forward 

Forward 

Forward 

 

Budget 

Budget 

Estimate 

Estimate 

Estimate 

 

$'000 

$'000 

$'000 

$'000 

$'000 

 

 

 

 

 

 

Cash flows from operating activities

 

 

 

 

 

Cash inflows

 

 

 

 

 

Fees and fines

1 595 

1 683 

1 702 

1 720 

1 738 

Total cash inflows

1 595 

1 683 

1 702 

1 720 

1 738 

 

 

 

 

 

 

Cash outflows

 

 

 

 

 

Transfers to the Public Account

(1 595)

(1 683)

(1 702)

(1 720)

(1 738)

Total cash outflows

(1 595)

(1 683)

(1 702)

(1 720)

(1 738)

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents held

.... 

.... 

.... 

.... 

.... 

 

 

 

 

 

 

Cash and deposits at the beginning of the reporting period

.... 

.... 

.... 

.... 

.... 

Cash and deposits at the end of the reporting period

.... 

.... 

.... 

.... 

....