10. Treasury Cluster
Expenses
Agency
2011-12
Budget
$m
2012-13
Budget
$m
Capital Expenditure
Var.
%
2011-12
Budget
$m
2012-13
Budget
$m
Var.
%
The Treasury
Service Group
State Resource Management .............................
75.8
77.3
2.0
0.4
0.4
…
Total
75.8
77.3
2.0
0.4
0.4
…
Service Group
Debt Liability Management ...............................
Superannuation Liability Management .............
Central Financial Services ..................................
1,390.1
1,475.5
2,345.1
1,581.0
706.4
2,238.8
13.7
(52.1)
(4.5)
…
…
0.5
…
…
0.5
…
…
…
Total
5,210.7
4,526.2
(13.1)
0.5
0.5
…
…
13.3
N/A
…
…
…
0.4
…
(100.0)
…
…
…
66.3
70.6
6.6
…
…
…
1,687.1
1,630.5
(3.4)
0.4
0.2
(61.9)
150.0
150.0
…
135.0
135.0
…
Crown Finance Entity
Building Insurers’ Guarantee Corporation
Total
Electricity Tariff Equalisation Ministerial
Corporation
Total
Liability Management Ministerial Corporation
Total
NSW Self Insurance Corporation
Total
Advance to the Treasurer
Total
Budget Estimates 2012-13
10 - 1
Treasury Cluster
Introduction
As the Government’s main financial and economic adviser, the Treasury cluster aims to improve
the NSW public service and economy.
The Treasury cluster is the lead for achieving the NSW 2021 goal to rebuild State finances.
The cluster’s responsibilities include:

providing the economic and fiscal context for sound policy development and informed
decision making

managing the State’s Budget and balance sheet

advising on microeconomic reforms to support a strong competitive economy

driving public sector financial accountability by promoting a contemporary legislative and
policy framework

advising on the use of the State’s resources to deliver better services, including through
capital investment

assessing financial and economic risk and advising on the economic impact of policies

providing Treasury Managed Fund (TMF) self-insurance cover for general government
agencies, and home warranty insurance for eligible residential building projects

managing and reporting on sector-wide assets and liabilities

providing grants to first home owners and providing for natural disaster relief

shareholder support for state owned corporations (SOC) performance monitoring

providing a whole-of-government advisory role on commercial financing.
Services
The Treasury cluster’s key services are:

developing and implementing the State’s fiscal and revenue strategies

managing the State Budget process and reporting on the State’s finances

developing tax, competition and regulatory policies and reforms

monitoring the performance of SOC and other Government businesses

monitoring public sector wage growth

monitoring agency savings targets and initiatives

representing the State’s interests in intergovernmental negotiations

maintaining an effective accountability and contract management framework for the selfinsurance scheme

managing home warranty insurance claims for former HIH/FAI policy holders and for
builders
10 - 2
Budget Estimates 2012-13
Treasury Cluster

researching and developing insurance reforms to reduce claim costs and channel savings into
high-priority areas

setting the parameters for managing the Crown debt portfolio, to minimise cost and risk

managing superannuation liabilities in line with the Government’s plan to fully fund them.
2012-13 Budget Highlights
In 2012-13, key initiatives will include spending:

$1.3 billion for State Super defined benefit scheme member expenses

$226 million for first home owner grants

$250 million for natural disaster relief grants
The cluster will also:

change management arrangements for an expected $43 million in Building Insurance
Guarantee claim payments in 2012-13 from an outsourced contractor to in-house resources

establish a statewide TMF legal services panel for Self Insurance Corporation (SICorp)
litigation, which is budgeted to save $903,000 in 2012-13 and deliver substantial further
savings when fully implemented

use a rollover of funds from 2011-12 to commence a Treasury transformation project which
will include project work to develop a new financial management system as recommended by
the Commission of Audit.
Budget Estimates 2012-13
10 - 3
The Treasury
Service Group Statements
State Resource Management
Service description: This service group covers advice on economic and fiscal strategies, advice on
efficiency and effectiveness of public sector agencies, and infrastructure, asset
management and procurement. It also includes budget management services,
public sector management systems, and financial asset and liability
management services.
Units
2009-10
Actual
2010-11
Actual
2011-12
Forecast
2011-12
Revised
2012-13
Forecast
%
95.7
100.0
100.0
100.0
100.0
%
66
25
100
82
100
Service measures:
State physical assets covered
by a Total Asset Management
Plan submission for
nominated agencies
Required government businesses
that have signed their Statement
of Corporate Intent or
Statement of Business Intent
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Capital Expenditure
10 - 4
75,780
74,382
77,317
385
385
385
Budget Estimates 2012-13
The Treasury
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
46,271
28,677
48,740
24,774
54,818
21,615
Depreciation and amortisation
663
704
714
Grants and subsidies
169
164
170
75,780
74,382
77,317
63,981
60,102
61,219
385
385
385
8,400
11,019
12,583
500
731
558
2,907
2,275
2,506
Other revenue
15
1
...
Total Revenue
76,188
74,513
77,251
...
1
...
408
132
(66)
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Recurrent appropriation
Capital appropriation
Sales of goods and services
Investment income
Acceptance by Crown Entity of employee benefits and
other liabilities
Gain/(loss) on disposal of non current assets
Net Result
Budget Estimates 2012-13
10 - 5
The Treasury
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Assets
Current Assets
Cash assets
12,729
12,494
12,757
Receivables
1,930
1,930
1,930
14,659
14,424
14,687
1,023
1,008
954
729
703
428
1,752
1,711
1,382
16,411
16,135
16,069
Payables
3,152
3,152
3,152
Provisions
5,218
5,218
5,218
8,370
8,370
8,370
56
56
56
56
56
56
8,426
8,426
8,426
7,985
7,709
7,643
7,985
7,709
7,643
7,985
7,709
7,643
Total Current Assets
Non Current Assets
Property, plant and equipment Plant and equipment
Intangibles
Total Non Current Assets
Total Assets
Liabilities
Current Liabilities
Total Current Liabilities
Non Current Liabilities
Provisions
Total Non Current Liabilities
Total Liabilities
Net Assets
Equity
Accumulated funds
Total Equity
10 - 6
Budget Estimates 2012-13
The Treasury
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Grants and subsidies
Other
Total Payments
43,341
46,442
169
164
52,312
170
31,949
28,046
24,884
75,459
74,652
77,366
63,981
60,102
61,219
Receipts
Recurrent appropriation
Capital appropriation
Sale of goods and services
Interest
385
385
385
9,430
12,049
12,583
480
711
558
3,463
3,449
3,269
77,739
76,696
78,014
2,280
2,044
648
...
1
...
Purchases of property, plant and equipment
(243)
(243)
(300)
Other
(142)
(142)
(85)
Net Cash Flows From Investing Activities
(385)
(384)
(385)
Net Increase/(Decrease) in Cash
1,895
1,660
263
Opening Cash and Cash Equivalents
10,834
10,834
12,494
Closing Cash and Cash Equivalents
12,729
12,494
12,757
Net result
408
132
(66)
Non cash items added back
663
704
714
Change in operating assets and liabilities
1,209
1,208
...
Net Cash Flows From Operating Activities
2,280
2,044
648
Other
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Proceeds from sale of property, plant and equipment
Cash Flow Reconciliation
Budget Estimates 2012-13
10 - 7
Crown Finance Entity
Service Group Statements
Debt Liability Management
Service description: This service group covers the management of the Crown debt portfolio and the
Treasury Banking System, which are managed in conjunction with NSW Treasury
Corporation, to minimise the market value of debt within specified risk
constraints, minimising the cost of debt and maximising investment returns.
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
1,390,140
1,530,289
1,581,023
Superannuation Liability Management
Service description: This service group covers the management of unfunded superannuation
liabilities of NSW public sector defined benefit superannuation schemes in line
with the Government's long-term funding plan.
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
1,475,494
1,444,026
706,403
Central Financial Services
Service description: This service group covers the periodic payments made to meet agency long
service leave, the cost of redundancies, grants under the First Home Owners
Grant Scheme and GST administration costs payable to the Australian Taxation
Office. It also includes provision of funds to various departments and authorities
responding to natural disasters.
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Capital Expenditure
10 - 8
2,345,051
2,316,383
2,238,811
500
500
500
Budget Estimates 2012-13
Crown Finance Entity
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
Depreciation and amortisation
2,418,210
75,896
2,532,495
78,950
1,477,402
60,740
48
48
47
999,323
893,534
1,071,135
1,451,985
1,527,046
1,579,406
265,223
258,625
337,507
5,210,685
5,290,698
4,526,237
Recurrent appropriation
5,350,923
4,926,773
5,976,983
Capital appropriation
4,310,518
5,116,451
290,854
Grants and subsidies
Finance costs
Other expenses
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Cash transfers to the Consolidated Fund
Sales of goods and services
Investment income
Grants and contributions
(8,500,277) (9,135,254) (3,944,538)
9,600
32,542
13,200
572,050
424,994
432,295
4,908
...
...
Other revenue
16,578
56,250
55,946
Total Revenue
1,764,300
1,421,756
2,824,740
(92,357)
(39,413)
(93,039)
(3,538,742) (3,908,355)
(1,794,536)
Other gains/(losses)
Net Result
Budget Estimates 2012-13
10 - 9
Crown Finance Entity
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Assets
Current Assets
Cash assets
339,826
1,057,757
1,342,761
Receivables
14,718
8,391
8,184
228,463
201,083
102,933
583,007
1,267,231
1,453,878
2,397,498
2,422,153
2,399,448
500
66
500
66
1,000
45
49
49
23
Total Non Current Assets
2,398,113
2,422,768
2,400,516
Total Assets
2,981,120
3,689,999
3,854,394
Payables
467,626
684,399
701,580
Borrowings at amortised cost
267,645
711,411
82,123
Other financial assets
Total Current Assets
Non Current Assets
Other financial assets
Property, plant and equipment Land and building
Plant and equipment
Intangibles
Liabilities
Current Liabilities
Other financial liabilities at fair value
547
59,158
64,611
6,288,400
6,691,300
6,049,400
371,993
192,545
173,283
7,396,211
8,338,813
7,070,997
Borrowings at amortised cost
18,545,178 22,478,206
26,461,735
Provisions
26,346,943 35,130,837
28,380,582
Provisions
Other
Total Current Liabilities
Non Current Liabilities
Other
1,052,993
1,057,453
888,869
Total Non Current Liabilities
45,945,114
58,666,496
55,731,186
Total Liabilities
53,341,325
67,005,309
62,802,183
Net Assets
(50,360,205) (63,315,310) (58,947,789)
Equity
Accumulated funds
Total Equity
10 - 10
(50,360,205) (63,315,310) (58,947,789)
(50,360,205) (63,315,310) (58,947,789)
Budget Estimates 2012-13
Crown Finance Entity
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
2,539,691
6,031,540
2,667,502
997,293
890,358
1,063,929
Finance costs
1,233,846
1,260,727
1,406,643
Other
(412,344)
491,386
511,939
4,358,486
8,674,011
5,650,013
Recurrent appropriation
5,350,923
4,926,773
5,976,983
Capital appropriation
4,310,518
5,116,451
290,854
Grants and subsidies
Total Payments
Receipts
Sale of goods and services
1,495
7,881
...
Interest
535,640
395,920
390,725
Retained taxes, fees and fines
(11,000)
(11,000)
(11,400)
21
21
21
Grants and contributions
Cash transfers to the Consolidated Fund
Other
Total Receipts
Net Cash Flows From Operating Activities
(8,519,243) (9,154,220) (3,949,258)
38,065
95,771
76,125
1,706,419
1,377,597
2,774,050
(2,652,067) (7,296,414)
(2,875,963)
Cash Flows From Investing Activities
Proceeds from sale of property, plant and equipment
187,525
...
...
Proceeds from sale of investments
10,499
9,401
1,111
Advance repayments received
87,595
125,954
240,456
(500)
(500)
(500)
Purchases of property, plant and equipment
Purchases of investments
Advances made
Net Cash Flows From Investing Activities
(734)
(20)
(21)
(431,417)
(360,555)
(168,956)
(147,032)
(225,720)
72,090
Cash Flows From Financing Activities
Proceeds from borrowings and advances
3,348,424
3,941,844
3,327,263
Repayment of borrowings and advances
(3,805,774)
(51,948)
(54,308)
Other
(1,309,014)
(215,294)
(184,078)
Net Cash Flows From Financing Activities
(1,766,364)
3,674,602
3,088,877
Net Increase/(Decrease) in Cash
(4,565,463) (3,847,532)
285,004
Opening Cash and Cash Equivalents
Closing Cash and Cash Equivalents
Budget Estimates 2012-13
4,905,289
4,905,289
1,057,757
339,826
1,057,757
1,342,761
10 - 11
Crown Finance Entity
Cash Flow Statement (cont)
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flow Reconciliation
Net result
(3,538,742) (3,908,355) (1,794,536)
Non cash items added back
190,558
Change in operating assets and liabilities
696,117 (3,562,725) (1,216,478)
Net Cash Flows From Operating Activities
10 - 12
174,666
(2,652,067) (7,296,414)
135,051
(2,875,963)
Budget Estimates 2012-13
Building Insurers’ Guarantee Corporation
(a)
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
...
7,966
9,427
Finance costs
...
11,322
3,894
...
19,288
13,321
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Investment income
...
3,034
2,781
Other revenue
...
20,497
14,152
Total Revenue
...
23,531
16,933
Net Result
...
4,243
3,612
(a) This entity was transferred to the Treasury cluster in August 2011 from the Finance and Services cluster
and is being reported in the Budget Papers for the first time.
Budget Estimates 2012-13
10 - 13
Building Insurers’ Guarantee Corporation
(a)
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Assets
Current Assets
Cash assets
...
720
23,070
Receivables
...
41,882
41,619
...
42,602
64,689
...
99,185
44,722
Total Non Current Assets
...
99,185
44,722
Total Assets
...
141,787
109,411
...
39,239
40,948
...
39,239
40,948
...
98,305
60,608
Total Non Current Liabilities
...
98,305
60,608
Total Liabilities
...
137,544
101,556
...
4,243
7,855
...
4,243
7,855
...
4,243
7,855
Total Current Assets
Non Current Assets
Receivables
Liabilities
Current Liabilities
Provisions
Total Current Liabilities
Non Current Liabilities
Provisions
Net Assets
Equity
Accumulated funds
Total Equity
(a) This entity was transferred to the Treasury cluster in August 2011 from the Finance and Services cluster
and is being reported in the Budget Papers for the first time.
10 - 14
Budget Estimates 2012-13
Building Insurers’ Guarantee Corporation
(a)
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Other
...
35,016
49,309
...
35,016
49,309
Sale of goods and services
...
14,502
52,726
Interest
...
3,034
2,781
Other
...
18,200
16,152
...
35,736
71,659
Net Cash Flows From Operating Activities
...
720
22,350
Net Increase/(Decrease) in Cash
...
720
22,350
Opening Cash and Cash Equivalents
...
...
720
Closing Cash and Cash Equivalents
...
720
23,070
Total Payments
Receipts
Total Receipts
Cash Flow Reconciliation
Net result
...
4,243
3,612
Change in operating assets and liabilities
...
(3,523)
18,738
Net cash flow from operating activities
...
720
22,350
(a) This entity was transferred to the Treasury cluster in August 2011 from the Finance and Services cluster
and is being reported in the Budget Papers for the first time.
Budget Estimates 2012-13
10 - 15
Electricity Tariff Equalisation Ministerial Corporation
(a)
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
381
407
...
381
407
...
Investment income
14,250
13,333
...
Retained taxes, fees and fines
(3,000)
1,598
...
Total Revenue
11,250
14,931
...
Net Result
10,869
14,524
...
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
(a) The Corporation will cease operations on 14 June 2012 under the Electricity Supply (Electricity Tariff
Equalisation Fund) Regulation 2012.
10 - 16
Budget Estimates 2012-13
Electricity Tariff Equalisation Ministerial Corporation
(a)
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Assets
Current Assets
Cash assets
Total Current Assets
Total Assets
304,519
...
...
304,519
...
...
304,519
...
...
25
...
...
25
...
...
25
...
...
304,494
...
...
304,494
...
...
304,494
...
...
Liabilities
Current Liabilities
Payables
Total Current Liabilities
Total Liabilities
Net Assets
Equity
Accumulated funds
Total Equity
(a) The Corporation will cease operations on 14 June 2012 under the Electricity Supply (Electricity Tariff
Equalisation Fund) Regulation 2012.
Budget Estimates 2012-13
10 - 17
Electricity Tariff Equalisation Ministerial Corporation
(a)
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Other
420
483
...
420
483
...
14,250
13,333
...
7,950
12,548
...
15
27
...
22,215
25,908
...
21,795
25,425
...
...
(308,149)
...
...
(308,149)
...
21,795
(282,724)
...
Opening Cash and Cash Equivalents
282,724
282,724
...
Closing Cash and Cash Equivalents
304,519
...
...
Net result
10,869
14,524
...
Change in operating assets and liabilities
10,926
10,901
...
Net Cash Flow From Operating Activities
21,795
25,425
...
Total Payments
Receipts
Interest
Retained taxes, fees and fines
Other
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Other
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
(a) The Corporation will cease operations on 14 June 2012 under the Electricity Supply (Electricity Tariff
Equalisation Fund) Regulation 2012.
10 - 18
Budget Estimates 2012-13
Liability Management Ministerial Corporation
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
TOTAL EXPENSES EXCLUDING LOSSES
66,000
250
65,988
175
70,410
206
66,250
66,163
70,616
697
610
1,253
51,526
51,526
54,103
52,223
52,136
55,356
(14,027)
(14,027)
(15,260)
Revenue
Investment income
Grants and contributions
Total Revenue
Net Result
Budget Estimates 2012-13
10 - 19
Liability Management Ministerial Corporation
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Assets
Current Assets
Cash assets
...
100
100
...
100
100
16,373
14,416
29,605
Total Non Current Assets
16,373
14,416
29,605
Total Assets
16,373
14,516
29,705
Total Current Assets
Non Current Assets
Other financial assets
Liabilities
Current Liabilities
Payables
...
95
100
51,526
37,900
40,100
51,526
37,995
40,200
646,574
786,600
674,400
Total Non Current Liabilities
646,574
786,600
674,400
Total Liabilities
698,100
824,595
714,600
(681,727)
(810,079)
(684,895)
(681,727)
(810,079)
(684,895)
(681,727)
(810,079)
(684,895)
Provisions
Total Current Liabilities
Non Current Liabilities
Provisions
Net Assets
Equity
Accumulated funds
Total Equity
10 - 20
Budget Estimates 2012-13
Liability Management Ministerial Corporation
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
35,600
37,540
39,966
250
80
201
35,850
37,620
40,167
51,526
51,526
54,103
51,526
51,526
54,103
15,676
13,906
13,936
(15,676)
(13,806)
(13,936)
(15,676)
(13,806)
(13,936)
...
100
...
Opening Cash and Cash Equivalents
...
...
100
Closing Cash and Cash Equivalents
...
100
100
(14,027)
(14,027)
(15,260)
Other
Total Payments
Receipts
Grants and contributions
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Purchases of investments
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
Non cash items added back
(697)
(610)
(1,253)
Change in operating assets and liabilities
30,400
28,543
30,449
Net Cash Flows From Operating Activities
15,676
13,906
13,936
Budget Estimates 2012-13
10 - 21
NSW Self Insurance Corporation
Financial Statements
Operating Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
Depreciation and amortisation
Finance costs
TOTAL EXPENSES EXCLUDING LOSSES
1,368,841
1,373,330
427
427
1,304,762
315
317,831
311,308
325,442
1,687,099
1,685,065
1,630,519
1,384,235
1,311,239
1,341,289
291,270
211,261
565,743
3,000
3,000
237,000
1,678,505
1,525,500
2,144,032
(8,594)
(159,565)
513,513
Revenue
Sales of goods and services
Investment income
Grants and contributions
Total Revenue
Net Result
10 - 22
Budget Estimates 2012-13
NSW Self Insurance Corporation
Balance Sheet
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash assets
279,373
261,973
279,074
Receivables
167,516
165,731
176,266
354
354
354
447,243
428,058
455,694
Assets
Current Assets
Other
Total Current Assets
Non Current Assets
Receivables
228,049
245,608
266,054
5,899,115
5,730,641
6,642,282
Property, plant and equipment Plant and equipment
316
316
277
Intangibles
429
429
324
26
26
13
Total Non Current Assets
6,127,935
5,977,020
6,908,950
Total Assets
6,575,178
6,405,078
7,364,644
Payables
145,772
139,114
145,094
Provisions
851,985
885,270
943,637
7,037
7,303
7,658
1,004,794
1,031,687
1,096,389
Other financial assets
Other
Liabilities
Current Liabilities
Other
Total Current Liabilities
Non Current Liabilities
Provisions
371,331
353,742
350,151
4,895,326
4,866,893
5,251,835
Total Non Current Liabilities
5,266,657
5,220,635
5,601,986
Total Liabilities
6,271,451
6,252,322
6,698,375
303,727
152,756
666,269
303,727
152,756
666,269
303,727
152,756
666,269
Other
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2012-13
10 - 23
NSW Self Insurance Corporation
Cash Flow Statement
__________
2011-12__________
Budget
Revised
$000
$000
2012-13
Budget
$000
Cash Flows From Operating Activities
Payments
Other
Total Payments
1,353,048
1,363,404
1,380,134
1,353,048
1,363,404
1,380,134
1,384,491
1,311,761
1,341,644
250,065
238,120
268,752
Receipts
Sale of goods and services
Interest
Grants and contributions
Other
Total Receipts
Net Cash Flows From Operating Activities
3,000
3,000
237,000
244,987
222,208
164,660
1,882,543
1,775,089
2,012,056
529,495
411,685
631,922
Cash Flows From Investing Activities
Purchases of property, plant and equipment
(159)
(159)
(111)
(522,483)
(422,073)
(614,650)
(290)
(290)
(60)
(522,932)
(422,522)
(614,821)
6,563
(10,837)
17,101
Opening Cash and Cash Equivalents
272,810
272,810
261,973
Closing Cash and Cash Equivalents
279,373
261,973
279,074
Purchases of investments
Other
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
(8,594)
(159,565)
513,513
Non cash items added back
(40,778)
27,286
(296,676)
Change in operating assets and liabilities
578,867
543,964
415,085
Net Cash Flows From Operating Activities
529,495
411,685
631,922
10 - 24
Budget Estimates 2012-13
Advance to the Treasurer
Advance to the Treasurer
Each year an amount is advanced to the Treasurer to manage contingencies and unforseen events
in the Budget year.
Once allocated, expenditure is shown within the appropriate agency. As the use of Treasurer’s
Advance represents a transfer of spending, there is no budget impact.
In 2012-13 an amount of $285 million has been allocated. This comprises $150 million for
recurrent services and $135 million for capital works and services.
The 2011-12 Budget introduced stronger budget control measures and as a result, the Treasurer’s
Advance was significantly reduced compared to previous years. This lower level has been
maintained for this Budget. Budget Paper No. 2 Budget Statement Chapter 4 provides analysis of
the historical use of the Advance.
Budget Estimates 2012-13
10 - 25