SECTOR STATEMENTS
Australian Government operating statement by sector — including General Government Sector Financial Report
for the year ended 30 June 2015
Note
General
Public non- financ ial
Government
c orporations
2015
2014
2015
2014
$m
$m
$m
$m
Public financ ial
c orporations(a)
2015
2014
$m
$m
Eliminations and
netting(b)
2015
2014
$m
$m
47
.
354,910 348,232
17,901
16,904
4,499
4,406
3,927
2,457
6,966
6,855
388,203 378,854
22,282
22,519
7,324
6,893
8,099
7,375
83,310
78,756
6,838
7,010
127,853 122,553
8,999
8,214
16,816
15,646
124,567 115,910
12,344
13,197
129,190 125,184
266,101 254,291
1,857
2,477
7,398
9,932
9,255
12,409
429,024 413,113
(40,821) (34,259)
Sector statements
Revenue from transactions
Taxation revenue
3A 355,009 348,372
(99)
(140)
Sales of goods and services
3B
8,975
8,575
9,840
9,389
3,257
6,713
(4,171) (7,773)
Interest income
3C
3,145
3,339
44
66
2,271
1,981
(961)
(980)
Dividend income
3C
6,178
4,105
71
64
(2,322) (1,712)
Other
3D
7,006
6,843
103
81
176
8,999
(319) (9,068)
Total revenue
380,313 371,234
9,987
9,536
5,775 17,757
(7,872) (19,673)
Expenses from transactions
Gross operating expenses
Wages and salaries
4A
18,357
18,823
3,764
3,548
286
498
(125)
(350)
Superannuation
4A
6,927
6,372
354
474
66
91
(23)
(44)
Depreciation and amortisation
4B
6,804
6,340
1,255
998
57
83
(17)
(46)
Supply of goods and services
4C
79,289
75,134
5,196
4,835
2,775
5,988
(3,950) (7,201)
Other operating expenses
4A
5,742
6,017
852
681
273
399
(29)
(87)
Total gross operating expenses
117,119 112,686
11,421
10,536
3,457
7,059
(4,144) (7,728)
Superannuation interest expense
4A
8,999
8,214
Interest expenses
4D
16,024
15,050
420
363
1,313
1,154
(941)
(921)
Current transfers
Current grants
4E 124,635 115,960
(68)
(50)
Subsidy expenses
12,506
13,368
(162)
(171)
Personal benefits
129,190 125,184
Tax expenses
(66)
35
48
88
18
(123)
Total current transfers
266,331 254,512
(66)
35
48
88
(212)
(344)
Capital transfers
Mutually agreed w rite-dow ns
4E
1,857
2,627
(150)
Other capital grants
4E
7,398
18,732
- (8,800)
Total capital transfers
9,255
21,359
- (8,950)
Total expenses
4F 417,728 411,821
11,775
10,934
4,818
8,301
(5,297) (17,943)
Net operating balance
(37,415) (40,587)
(1,788) (1,398)
957
9,456
(2,575) (1,730)
(a) Includes Medibank Private Limited (discontinued operation) for the period prior to disposal – refer Note 2.
(b) The eliminations and netting column includes the elimination of inter-sector transactions and the netting off of gains and losses across sectors
Australian
Government
2015
2014
$m
$m
for the year ended 30 June 2015
Note
General
Government
2015
$m
Public non- financ ial
c orporations
Public financ ial
c orporations(a)
Eliminations and
netting(b)
Australian
Government
48
2014
$m
2015
$m
2014
$m
2015
$m
2014
$m
2015
$m
2014
$m
Other econom ic flow s - included
in operating result
Net w rite-dow ns of assets
5A
(5,412) (6,537)
Assets recognised for the first time
326
310
Net gain/(loss) from the sale of assets
5B
10,690
6,093
Net foreign exchange gains/(losses)
5C
(2,335)
(402)
Net sw ap interest gains/(losses)
5D
(977)
(524)
Other gains/(losses)
5E
4,706 (8,322)
Amortisation of non-produced assets
(58)
(64)
Net result from associates and joint ventures
27
64
Operating result
(30,448) (49,969)
Discontinued operation
2
Net operating result
(30,448) (49,969)
(217)
5
50
2
8
11
(63)
(1,992)
(66)
197
8
11
14
(60)
(1,294)
(7)
(73)
6,142
35
42
(3)
7,093
(104)
2
34
149
33
124
(10)
9,684
9
1
2,766
(1)
(1)
(4,042)
3
(3,840)
115
(2)
(22)
(2)
(14)
10
1
(1,644)
(5,627) (6,592)
332
310
13,433
6,302
3,808
(247)
(935)
(480)
717 (8,198)
(121)
(124)
27
65
(29,187) (43,223)
(1,992)
(1,294)
7,093
9,684
149
(3,691)
101
(1,543)
149
101
(29,038) (43,122)
Other econom ic flow s - through equity
Will not be reclassified to operating result
Revaluation of non-financial assets
9
1,647
1,158
(73)
63
29
14
(2)
Actuarial revaluations of superannuation
(17,780) (13,233)
145
220
(85)
(1)
Other economic revaluations
(3,873)
(58)
(234)
(94)
(1,264)
157
5,595
36
M ay be reclassified to operating result
Revaluation of equity investments
9
3,201
7,679
380
262
(3,198) (7,659)
Com prehensive result
(47,253) (54,423)
(2,154) (1,105)
6,153 10,116
(1,296) (9,166)
Net operating balance
(37,415) (40,587)
(1,788) (1,398)
957
9,456
(2,575) (1,730)
less Net acquisition of non-financial assets
Purchases of non-financial assets
11,337
9,613
4,233
4,726
53
805
less Sales of non-financial assets
2,423
241
75
197
5
(1)
1
less Depreciation
6,804
6,340
1,255
998
57
83
(17)
(46)
plus Change in inventories
582
704
8
14
(2)
2
1
plus Other movements in non-financial assets
14
114
18
875
(11)
(2)
1
2
Total net acquisition of non-financial assets
2,706
3,850
2,929
4,420
(17)
717
19
48
Fiscal balance (Net lending/borrow ing)
(40,121) (44,437)
(4,717) (5,818)
974
8,739
(2,594) (1,778)
(a) Includes Medibank Private Limited (discontinued operation) for the period prior to disposal – refer Note 2.
(b) The eliminations and netting column includes the elimination of inter-sector transactions and the netting off of gains and losses across sectors.
2015
$m
2014
$m
1,601
1,235
(17,720) (13,014)
224
41
383
282
(44,550) (54,578)
(40,821) (34,259)
15,623
15,144
2,497
444
8,099
7,375
588
721
22
989
5,637
9,035
(46,458) (43,294)
Sector statements
Australian Government operating statement by sector — including General Government Sector Financial Report (continued)
Australian Government balance sheet by sector — including General Government Sector Financial Report
as at 30 June 2015
Note
Assets
Financial assets
Cash and deposits
Advances paid
Other receivables and accrued revenue
Investments, loans and placements
Equity investments
Total financial assets
10B
7A
7A
7B
7C
General
Public non-financial
Government
corporations
2015
2014
2015
2014
$m
$m
$m
$m
49
3,156
40,658
42,335
136,376
83,496
306,021
3,844
34,040
41,865
117,611
75,576
272,936
2,042
5
1,272
624
3
3,946
Non-financial assets
Land
7D
9,941
Buildings
7D
25,639
Specialist military equipment
7D
42,652
Other plant, equipment and infrastructure 7D
13,624
Intangibles
7D
6,544
Investment property
7D
187
Inventories
7E
8,415
Heritage and cultural assets
7D
11,332
Tax assets
Other non-financial assets
7F
4,896
Total non-financial assets
123,230
Total assets
7G
429,251
(a) Comprises the elimination of inter-sector balances.
9,331
24,847
41,243
13,097
6,183
183
8,253
10,825
3,310
117,272
390,208
870
1,952
16,714
2,100
200
107
915
217
23,075
27,021
Public financial
corporations
2015
2014
$m
$m
Eliminations(a)
2015
$m
2014
$m
1,380
480
1,030
(856) (1,740)
8
2,177
1,851
(1,071) (1,065)
1,172
250
571
(2,648) (1,441)
415 158,175 143,954 (40,714) (32,204)
9
401
638 (39,811) (35,746)
2,984 161,483 148,044 (85,100) (72,196)
916
1,871
13,617
2,091
192
106
913
237
19,943
22,927
143
149
287
284
177
275
36
263
9
11
4
12
37
91
693
1,085
162,176 149,129
(1)
1
1
(2)
(1)
1
(919)
(925)
(88)
(115)
(1,010) (1,038)
(86,110) (73,234)
Australian
Government
2015
2014
$m
$m
4,822
41,769
41,209
254,461
44,089
386,350
4,514
34,834
42,167
229,776
40,477
351,768
10,953
27,878
42,652
30,515
8,678
387
8,531
11,332
5,062
145,988
532,338
10,396
27,003
41,243
26,990
8,536
375
8,371
10,825
3,523
137,262
489,030
Sector statements
Note
50
Liabilities
Interest bearing liabilities
Deposits held
8A
Government securities
8B
Loans
8C
Other borrow ing
8D
Other interest bearing liabilities
8E
Total interest bearing liabilities
Provisions and payables
Superannuation liability
8F
Other employee liabilities
8F
Suppliers payable
8G
Personal benefits payable
8G
Subsidies payable
8G
Grants payable
8G
Australian currency on issue
8G
Tax liabilities
Other payables
8G
Other provisions
8G
Total provisions and payables
Total liabilities
(a) Comprises the elimination of inter-sector balances.
General
Public non-financial
Government
corporations
2015
2014
2015
2014
$m
$m
$m
$m
218
409,937
5,693
1,509
6,715
424,072
211
351,282
4,708
1,529
5,674
363,404
2,660
3,826
15
6,501
2,510
3,461
14
5,985
248,209
17,052
4,601
5,983
4,529
3,239
2,688
27,332
313,633
737,705
221,747
15,930
4,881
5,607
4,482
3,355
3,133
29,182
288,317
651,721
24
1,636
1,002
674
1,956
382
5,674
12,175
4
1,349
1,036
560
1,307
393
4,649
10,634
Public financial
corporations
2015
2014
$m
$m
60,486
2,406
4,562
67,454
Eliminations(a)
2015
$m
2014
$m
53,574 (35,580) (29,197)
(5,893) (4,666)
2,285
(1,052) (1,039)
1
7,247
(1)
(1)
63,106 (42,525) (34,903)
306
197
1,403
1,441
60
408
65,481 60,778
1
28
2,668
2,043
1
477
69,920 65,372
137,374 128,478
1
(105)
(179)
(675)
(588)
(2,646) (1,394)
(2)
(3)
(3,427) (2,164)
(45,952) (37,067)
Australian
Government
2015
2014
$m
$m
25,124
404,044
9,707
5,336
11,291
455,502
24,588
346,616
8,464
4,990
12,934
397,592
248,540
20,091
5,558
5,983
4,529
3,239
65,481
4,666
27,713
385,800
841,302
221,948
18,720
6,146
5,607
4,482
3,355
60,778
5,089
30,049
356,174
753,766
Sector statements
Australian Government balance sheet by sector — including General Government Sector Financial Report (continued)
as at 30 June 2015
Australian Government balance sheet by sector — including General Government Sector Financial Report (continued)
as at 30 June 2015
Note
Net w orth
Accumulated results
Reserves
Contributed equity
Net w orth
Current liabilities
Non-current liabilities
Total liabilities by m aturity
General
Public non-financial
Government
corporations
2015
2014
2015
2014
$m
$m
$m
$m
(360,194) (316,559)
51,740
55,046
(308,454) (261,513)
(3,543)
1,847
16,542
14,846
(1,530)
1,852
11,971
12,293
Public financial
corporations
2015
2014
$m
$m
(142)
24,698
246
24,802
Eliminations(a)
2014
$m
Australian
Government
2015
2014
$m
$m
1,370
19,150
131
20,651
(3,918) (3,666)
(19,453) (20,399)
(16,788) (12,102)
(40,159) (36,167)
(367,797) (320,385)
58,832
55,649
(308,965) (264,736)
2015
$m
51
85,999
651,706
737,705
76,567
575,154
651,721
4,252
7,923
12,175
3,687
6,947
10,634
68,643 64,590
68,731 63,888
137,374 128,478
(44,964) (36,207)
(988)
(860)
(45,952) (37,067)
113,930
727,372
841,302
108,637
645,129
753,766
Current assets
220,658
Non-current assets
208,593
Total assets by m aturity
429,251
(a) Comprises the elimination of inter-sector balances.
193,097
197,111
390,208
3,839
23,182
27,021
3,059
19,868
22,927
149,401 135,862
12,775 13,267
162,176 149,129
(44,551) (35,774)
(41,560) (37,460)
(86,111) (73,234)
329,347
202,990
532,337
296,244
192,786
489,030
Sector statements
General
Government
2015
2014
$m
$m
O P ERATING ACTIV ITIES
Ca sh re c e ive d
Taxes rec eived
Rec eipts from sales of
goods and servic es
Interest rec eipts
Dividend rec eipts
GST rec eipts
Other rec eipts
Tota l c a sh re c e ive d
52
Ca sh use d
Taxes paid
Payments for employees
Payments for goods and servic es
Grants and subsidies paid
Interest paid
Personal benefits
GST paid
Other payments
Tota l c a sh use d
Net c ash from disc ontinued operating ac tivities
Ne t c a sh from ope ra ting a c tivitie s
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
Public non- financ ial
c orporations
2015
2014
$m
$m
351,675
338,215
-
8,839
3,056
4,745
7,598
3 7 5 , 9 13
8,579
3,128
3,131
6,811
359,864
10,732
44
370
34
11, 18 0
(25,775)
(25,889)
(80,252)
(75,845)
(144,512)
(148,990)
(13,924)
(13,972)
(130,891)
(126,367)
(5,289)
(5,769)
(4 0 0 , 6 4 3 ) (3 9 6 , 8 3 2 )
-
Public financ ial
c orporations(a)
2015
2014
$m
$m
Eliminations and
netting(b)
2015
2014
$m
$m
-
-
(98)
10,421
72
3
277
12
10 , 7 8 5
3,104
2,327
58
18
210
5 , 7 17
6,675
1,894
43
18
9,005
17 , 6 3 5
(43)
(84)
(4,130)
(3,759)
(6,086)
(5,599)
(57)
(65)
(385)
(396)
(537)
(604)
(11, 2 3 8 ) (10 , 5 0 7 )
(31)
(97)
(2,771)
(162)
(1,366)
(311)
(4 , 7 3 8 )
(61)
(430)
(5,575)
(123)
(1,137)
(266)
(7 , 5 9 2 )
74
498
4,093
230
970
385
(330)
5,920
Australian
Government
2015
2014
$m
$m
4
351,577
338,219
(4,162)
(7,928)
(968)
(872)
(1,047)
(976)
(388)
(295)
(308)
(8,770)
(6 , 9 7 1) (18 , 8 3 7 )
18,513
4,459
3,756
7,534
385,839
17,747
4,222
2,201
7,058
369,447
145
479
(29,504)
(29,599)
7,237
(85,016)
(79,782)
9,021
(144,444)
(140,092)
866
(14,377)
(14,308)
(130,891)
(126,367)
396
(514)
(6,467)
(7,153)
17 , 6 3 0 (4 10 , 6 9 9 ) (3 9 7 , 3 0 1)
(2 4 , 7 3 0 )
(3 6 , 9 6 8 )
(5 8 )
278
979
10 , 0 4 3
(7)
(1, 0 5 8 )
374
(8 3 3 )
(7)
(2 4 , 8 6 7 )
374
(2 7 , 4 8 0 )
2,305
(11,280)
457
(9,012)
75
(3,801)
257
(3,523)
(53)
5
(803)
20
(5)
113
2,380
(15,114)
714
(13,225)
(8 , 9 7 5 )
(8 , 5 5 5 )
(3 , 7 2 6 )
(3 , 2 6 6 )
(5 3 )
(7 9 8 )
20
(12 , 7 3 4 )
(12 , 5 11)
10 8
(a) Includes Medibank Private Limited (discontinued operation) for the period prior to disposal – refer Note 2.
(b) The eliminations and netting column includes the elimination of inter-sector transactions and the netting off of certain cash flows across sectors.
Sector statements
Australian Government cash flow statement by sector — including General Government Sector Financial Report
for the year ended 30 June 2015
Australian Government cash flow statement by sector — including General Government Sector Financial Report (continued)
for the year ended 30 June 2015
General
Government
2015
2014
$m
$m
INV ES TING ACTIV ITIES
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
53
FINANCING ACTIV ITIES
Ca sh flows from fina nc ing a c tivitie s
Ca sh re c e ive d
Borrowings
Other financ ing
Tota l c a sh re c e ive d
Ca sh use d
Other financ ing
Tota l c a sh use d
Net c ash from disc ontinued financ ing ac tivities
Ne t c a sh from fina nc ing a c tivitie s
Ne t inc re a se / (de c re a se ) in c a sh
Public non- financ ial
c orporations
2015
2014
$m
$m
Public financ ial
c orporations(a)
2015
2014
$m
$m
Eliminations and
netting(b)
2015
2014
$m
$m
Australian
Government
2015
2014
$m
$m
(5,163)
(6,371)
-
-
(63)
-
36
(58)
(5,190)
(6,429)
(11,953)
(7,718)
(46)
656
(12,315)
(40,033)
13,406
13,542
(10,908)
(33,553)
(2 6 , 0 9 1)
(2 2 , 6 4 4 )
(3 , 7 7 2 )
(2 , 6 10 )
(12 , 4 3 1) (4 0 , 8 3 1)
91
13 , 5 5 3
(58)
13 , 5 3 4
91
(2 8 , 7 4 1)
(58)
(5 2 , 5 5 1)
52,381
52,381
63,218
6 3 , 2 18
105
4,817
4,922
3,233
3,233
6,381
5,456
11, 8 3 7
27,366
3,961
3 1, 3 2 7
(1,270)
(7,580)
(8 , 8 5 0 )
(3,055)
(5,275)
(8 , 3 3 0 )
57,597
2,693
60,290
87,529
1,919
89,448
(2,248)
(2 , 2 4 8 )
(1,875)
(1, 8 7 5 )
(430)
(4 3 0 )
(412)
(4 12 )
(935)
(9 3 5 )
(604)
(6 0 4 )
(2,761)
(2 , 7 6 1)
(6,074)
(6 , 0 7 4 )
(6,374)
(6 , 3 7 4 )
(8,965)
(8 , 9 6 5 )
5 0 , 13 3
6 1, 3 4 3
4,492
2,821
10 , 9 0 2
30,723
(11, 6 11) (14 , 4 0 4 )
5 3 , 9 16
80,483
489
1, 7 3 1
662
3,844
2,113
1, 3 8 0
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)
3 , 15 6
3,844
2,042
(24,730)
(36,968)
(8,975)
(3 3 , 7 0 5 )
Financ e leases and similar arrangements
G FS c a sh surplus/ (de fic it)
(72)
(3 3 , 7 7 7 )
(5 5 0 )
(6 5 )
884
(1, 7 0 3 )
308
452
1, 0 3 0
1,095
(1, 7 4 0 )
(37)
4 , 5 14
4,062
1, 3 8 0
480
1, 0 3 0
(8 5 6 )
(1, 7 4 0 )
4,822
4 , 5 14
(58)
278
979
10,043
(1,058)
(833)
(24,867)
(27,480)
(8,555)
(4 5 , 5 2 3 )
(3,726)
(3 , 7 8 4 )
(3,266)
(2 , 9 8 8 )
(53)
926
(798)
9,245
20
(1, 0 3 8 )
108
(7 2 5 )
(12,734)
(3 7 , 6 0 1)
(12,511)
(3 9 , 9 9 1)
(586)
(4 6 , 10 9 )
(409)
(4 , 19 3 )
(2,076)
(5 , 0 6 4 )
926
9,245
(1, 0 3 8 )
(7 2 5 )
(481)
(3 8 , 0 8 2 )
(2,662)
(4 2 , 6 5 3 )
891
(a) Includes Medibank Private Limited (discontinued operation) for the period prior to disposal – refer Note 2.
(b) The eliminations and netting column includes the elimination of inter-sector transactions and the netting off of certain cash flows across sectors.
Sector statements
(6 8 8 )
Ca sh a t be ginning of ye a r
Sector statements
General Government Sector statement of changes in equity
to the year ended 30 June 2015
General Government
Item
Accumulated
results
$m
Reserves
Foreign
Asset
currency
revaluation translation Investments
reserve
reserve
reserve
$m
$m
$m
Other
reserves
$m
Total
reserves
$m
Total
$m
54
Adjusted opening balance as at 1 July 2013
(249,138)
29,271
(220)
12,880
117
42,048
(207,090)
Comprehensive result - Total change in net w orth
Transfers to/(from)/betw een reserves
Net w orth as at 30 June 2014
(68,336)
915
(316,559)
1,118
53
30,442
(109)
(329)
12,948
(984)
24,844
(44)
16
89
13,913
(915)
55,046
(54,423)
(261,513)
Non-material changes in accounting policy and errors
Adjusted opening balance as at 1 July 2014
168
(316,391)
55
30,497
(329)
98
24,942
(9)
80
144
55,190
312
(261,201)
Comprehensive result - Total change in net w orth
(48,111)
Transfers to/(from)/betw een reserves
4,308
Net w orth as at 30 June 2015
(360,194)
The above statement should be read in conjunction with the accompanying notes.
1,597
(3)
32,091
166
(163)
(916)
(4,308)
19,718
11
3
94
858
(4,308)
51,740
(47,253)
(308,454)