CONSOLIDATED FINANCIAL STATEMENTS, INCLUDING
THE AUSTRALIAN GOVERNMENT (WHOLE OF
GOVERNMENT) AND GENERAL GOVERNMENT SECTOR
FINANCIAL REPORTS
INDEPENDENT AUDIT REPORT
35
Consolidated financial statements
36
37
Consolidated financial statements
38
Consolidated financial statements
Australian Government operating statement
for the year ended 30 June 2015
2015
$m
2014
$m
3A
3B
3C
3C
3D
354,910
17,901
4,499
3,927
6,966
388,203
348,232
16,904
4,406
2,457
6,855
378,854
4A
4A
4B
4C
4A
22,282
7,324
8,099
83,310
6,838
127,853
8,999
16,816
22,519
6,893
7,375
78,756
7,010
122,553
8,214
15,646
4E
124,567
12,344
129,190
266,101
115,910
13,197
125,184
254,291
4E
4E
1,857
7,398
9,255
429,024
2,477
9,932
12,409
4 13 , 113
(4 0 , 8 2 1)
(3 4 , 2 5 9 )
(5,627)
332
13,433
3,808
(935)
717
(121)
27
(2 9 , 18 7 )
(6,592)
310
6,302
(247)
(480)
(8,198)
(124)
65
(4 3 , 2 2 3 )
149
(2 9 , 0 3 8 )
101
(4 3 , 12 2 )
1,601
(17,720)
224
1,235
(13,014)
41
383
(4 4 , 5 5 0 )
282
(5 4 , 5 7 8 )
Note
Re ve nue from tra nsa c tions
Taxation revenue
Sales of goods and servic es
Interest inc ome
Dividend inc ome
Other
Tota l re ve nue
Expe nse s from tra nsa c tions
Gross operating expenses
Wages and salaries
Superannuation
Deprec iation and amortisation
Supply of goods and servic es
Other operating expenses
Total gross operating expenses
Superannuation interest expense
Interest expense
Current transfers
Current grants
Subsidy expenses
Personal benefits
Total c urrent transfers
Capital transfers
Mutually agreed write- downs
Other c apital grants
Total c apital transfers
Tota l e xpe nse s
4A
4D
4F
Ne t ope ra ting ba la nc e
O the r e c onomic flows - inc lude d in O pe ra ting Re sult
Net write- downs of assets (inc luding bad and doubtful debts)
Assets rec ognised for the first time
Net gain/(loss) from the sale of assets
Net foreign exc hange gains/(losses)
Net swap interest gains/(losses)
Other gains/(losses)
Amortisation of non- produc ed assets
Net result from assoc iates and joint ventures
O pe ra ting re sult from c ontinuing ope ra tions
Disc ontinued operation
O pe ra ting re sult
5A
5B
5C
5D
5E
2
O the r e c onomic flows - O the r non- owne r move me nts in e quity
Ite ms tha t will not be re c la ssifie d to ope ra ting re sult
Revaluation of non- financ ial assets
9
Ac tuarial revaluations of superannuation
Other ec onomic revaluations
Ite ms tha t ma y be re c la ssifie d subse que ntly to ope ra ting re sult
Revaluation of equity investments
9
Compre he nsive re sult - Tota l c ha nge in ne t worth
39
Consolidated financial statements
Australian Government operating statement (continued)
for the year ended 30 June 2015
Note
Ne t ope ra ting ba la nc e
le ss Ne t a c quisition of non- fina nc ia l a sse ts
Purc hases of non- financ ial assets
less Sales of non- financ ial assets
less Deprec iation
plus Change in inventories
plus Other movements in non- financ ial assets
Tota l ne t a c quisition of non- fina nc ia l a sse ts
Fisc a l ba la nc e (Ne t le nding/ borrowing)
The above statement should be read in conjunction with the accompanying notes.
40
2015
$m
2014
$m
(4 0 , 8 2 1)
(3 4 , 2 5 9 )
15,623
2,497
8,099
588
22
5,637
(4 6 , 4 5 8 )
15,144
444
7,375
721
989
9,035
(4 3 , 2 9 4 )
Consolidated financial statements
Australian Government balance sheet
as at 30 June 2015
2015
$m
2014
$m
10B
7A
7A
7B
7C
4,822
41,769
41,208
254,461
44,089
386,349
4,514
34,834
42,167
229,776
40,477
351,768
7D
7D
7D
7D
7D
7D
7E
7D
7F
10,953
27,878
42,652
30,515
8,678
387
8,531
11,332
5,062
145,988
532,337
10,396
27,003
41,243
26,990
8,536
375
8,371
10,825
3,523
137,262
489,030
8A
8B
8C
8D
8E
25,124
404,044
9,707
5,336
11,291
455,502
24,588
346,616
8,464
4,990
12,934
397,592
8F
8F
8G
8G
8G
8G
8G
8G
8G
248,540
20,091
5,558
5,983
4,529
3,239
65,481
4,666
27,713
385,800
8 4 1, 3 0 2
221,948
18,720
6,146
5,607
4,482
3,355
60,778
5,089
30,049
356,174
753,766
(367,797)
58,832
(3 0 8 , 9 6 5 )
(320,385)
55,649
(2 6 4 , 7 3 6 )
Current liabilities
Non- c urrent liabilities
Tota l lia bilitie s by ma turity
113,930
727,372
8 4 1, 3 0 2
108,637
645,129
753,766
Current assets
Non- c urrent assets
Tota l a sse ts by ma turity
329,347
202,990
532,337
296,244
192,786
489,030
Note
Asse ts
Financ ial assets
Cash and deposits
Advanc es paid
Other rec eivables and ac c rued revenue
Investments, loans and plac ements
Equity investments
Total financ ial assets
Non- financ ial assets
Land
Buildings
Spec ialist military equipment
Other plant, equipment and infrastruc ture
Intangibles
Investment property
Inventories
Heritage and c ultural assets
Other non- financ ial assets
Total non- financ ial assets
Tota l a sse ts
7G
Lia bilitie s
Interest bearing liabilities
Deposits held
Government sec urities
Loans
Other borrowings
Other interest bearing liabilities
Total interest bearing liabilities
Provisions and payables
Superannuation liability
Other employee liabilities
Suppliers payable
Personal benefits payable
Subsidies payable
Grants payable
Australian c urrenc y on issue
Other payables
Other provisions
Total provisions and payables
Tota l lia bilitie s
Ne t worth(a )
Ac c umulated results
Reserves
Ne t worth
(a) Minority interests have not been separately disclosed as they are immaterial to the financial statements.
The above statement should be read in conjunction with the accompanying notes.
41
Consolidated financial statements
Australian Government cash flow statement
for the year ended 30 June 2015
2015
$m
2014
$m
351,577
18,513
4,459
3,756
7,534
385,839
338,219
17,747
4,222
2,201
7,058
369,447
(29,504)
(85,016)
(144,444)
(14,377)
(130,891)
(6,467)
(4 10 , 6 9 9 )
(7 )
(2 4 , 8 6 7 )
(29,599)
(79,782)
(140,092)
(14,308)
(126,367)
(7,153)
(3 9 7 , 3 0 1)
374
(2 7 , 4 8 0 )
2,380
(15,114)
(12 , 7 3 4 )
714
(13,225)
(12 , 5 11)
(5,190)
(10,908)
(6,429)
(33,553)
91
(2 8 , 7 4 1)
(58)
(5 2 , 5 5 1)
FINANCING ACTIV ITIES
Fina nc ing c a sh re c e ive d
Ca sh re c e ive d
Borrowings
Other financ ing
Tota l c a sh re c e ive d
57,597
2,693
60,290
87,529
1,919
89,448
Fina nc ing c a sh use d
Borrowings
Other financ ing
Tota l c a sh use d
(6,374)
(6 , 3 7 4 )
(8,965)
(8 , 9 6 5 )
5 3 , 9 16
80,483
Note
O P ERATING ACTIV ITIES
O pe ra ting c a sh re c e ive d
Taxes rec eived
Rec eipts from sales of goods and servic es
Interest rec eipts
Dividend rec eipts
Other rec eipts
Tota l c a sh re c e ive d
O pe ra ting c a sh use d
Payments for employees
Payments for goods and servic es
Grants and subsidies paid
Interest paid
Personal benefits
Other payments
Tota l c a sh use d
Net c ash from disc ontinued operating ac tivities
Ne t c a sh flows from ope ra ting a c tivitie s
2
10A
INV ES TING ACTIV ITIES
Inve stme nts in non- fina nc ia l a sse ts
Sales of non- financ ial assets
Purc hases of non- financ ial assets
Ne t c a sh flows from inve stme nts in non- fina nc ia l a sse ts
Investments in financ ial assets for polic y purposes
Investments in financ ial assets for liquidity purposes
Net c ash from disc ontinued investing ac tivities
Ne t c a sh from inve sting a c tivitie s
2
Ne t c a sh flows from fina nc ing a c tivitie s
Ne t (de c re a se )/ inc re a se in c a sh he ld
Ca sh a t be ginning of ye a r
Ca sh a t e nd of ye a r
Ke y fisc a l a ggre ga te
Net c ash flows from operating ac tivities
Net c ash flows from investments in non- financ ial assets
Ca sh surplus/ (de fic it)
10B
Financ e leases and similar arrangements
G FS c a sh surplus/ (de fic it)
The above statement should be read in conjunction with the accompanying notes.
42
308
452
4,514
4,062
4,822
4 , 5 14
(24,867)
(12,734)
(3 7 , 6 0 1)
(27,480)
(12,511)
(3 9 , 9 9 1)
(481)
(3 8 , 0 8 2 )
(2,662)
(4 2 , 6 5 3 )
Australian Government statement of changes in equity (net worth)
to the year ended 30 June 2015
Australian Government
Reserves
Foreign
currency
translation Investments Statutory
reserve(c)
funds(d)
$m
$m
$m
Accumulated
results
$m
Asset
revaluation
reserve(a)
$m
Adjusted opening balance as at 1 July 2013
(259,041)
33,844
(156)
14,000
Comprehensive result - Total change in
net w orth
Transfers to/(from)/betw een reserves
Net w orth as at 30 June 2014 (f)
(53,987)
(7,357)
(320,385)
1,461
37
35,342
(166)
(322)
Non-material changes in accounting policy and errors
Adjusted opening balance as at 1 July 2014
176
(320,209)
55
35,397
(322)
Item
Other
43
$m
Total
reserves
$m
Total
$m
(3,248)
4,443
48,883
(210,158)
(1,994)
(982)
11,024
3
8,799
5,554
105
(497)
4,051
(591)
7,357
55,649
(54,578)
(264,736)
99
11,123
5,554
(9)
4,042
145
55,794
321
(264,415)
The above statement should be read in conjunction with the accompanying notes.
(44,550)
(308,965)
Consolidated financial statements
Comprehensive result - Total change in
net w orth
(46,721)
1,934
219
9
9
2,171
Transfers to/(from)/betw een reserves
(867)
(47)
(2)
(4,308)
1,570
3,654
867
Net w orth as at 30 June 2015 (f)
(367,797)
37,284
(105)
6,824
7,124
7,705
58,832
(a) The asset revaluation reserve includes net revaluation increments and decrements arising from the revaluation of property, plant and equipment.
(b) The foreign currency translation reserve records foreign currency differences arising from the translation of self-sustaining foreign operations.
(c) The investments reserve records the Australian Government’s interest in portfolio authorities and companies.
(d) Statutory funds comprise amounts set aside out of operating surpluses under a specific Act or Statute.
(e) Other reserves include amounts set aside out of operating surpluses for purposes other than those detailed above, including general reserves.
(f) Minority interests have not been separately disclosed as they are immaterial to the financial statements.