CONSOLIDATED FINANCIAL STATEMENTS, INCLUDING
THE AUSTRALIAN GOVERNMENT (WHOLE OF
GOVERNMENT) AND GENERAL GOVERNMENT SECTOR
FINANCIAL REPORTS
Consolidated Financial Statements for the year ended 30 June 2014
INDEPENDENT AUDITOR’S REPORT
37
38
Consolidated Financial Statements for the year ended 30 June 2014
39
STATEMENT OF COMPLIANCE
40
Australian Government operating statement
for the year ended 30 June 2014
2014
$m
2013
$m
2
3
4
4
5
349,069
23,256
4,466
2,475
6,883
3 8 6 , 14 9
334,430
22,127
4,658
2,175
7,057
370,447
6
6
7
8
6
22,868
6,923
7,422
84,535
7,094
128,842
8,214
15,646
22,207
8,760
7,162
79,693
6,794
124,616
6,729
13,982
10
115,910
13,197
125,184
254,291
110,590
12,076
117,221
239,887
10
10
2,477
9,932
12,409
4 19 , 4 0 2
(3 3 , 2 5 3 )
794
7,888
8,682
393,896
(2 3 , 4 4 9 )
(7,378)
313
6,325
(245)
(480)
(8,183)
(133)
(7,390)
388
1,076
1,678
45
23,885
(95)
65
(4 2 , 9 6 9 )
37
(3 , 8 2 5 )
1,235
(13,014)
41
641
50,424
(303)
282
(5 4 , 4 2 5 )
(609)
46,328
(3 3 , 2 5 3 )
(2 3 , 4 4 9 )
15,144
444
7,422
721
989
8,988
(4 2 , 2 4 1)
11,858
1,839
7,162
1,005
649
4 , 5 11
(2 7 , 9 6 0 )
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
Ne t ope ra ting ba la nc e
6
9
11
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 rec eived
Other gains/(losses)
Amortisation of non- produc ed assets
Share of net result from assoc iates and joint
ventures ac c ounted for using the equity method
O pe ra ting re sult
12
13
14
15
16
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
33
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
33
Compre he nsive re sult - Tota l c ha nge in ne t worth
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.
41
Consolidated Financial Statements for the year ended 30 June 2014
Australian Government balance sheet
as at 30 June 2014
2014
$m
2013
$m
34B
18
18
19
20
4,514
34,834
42,933
229,776
40,477
352,534
4,062
30,075
42,734
191,300
34,905
303,076
21
21
21
22
21
23
24
21
24
24
9,846
27,381
66,183
8,321
375
8,371
36
10,825
143
5,781
137,262
489,796
9,440
25,742
61,375
7,822
368
8,038
33
10,547
213
4,224
127,802
430,878
26
27
28
29
30
24,588
346,616
8,464
4,990
12,934
397,592
6,124
284,160
7,831
2,361
14,948
315,424
31
31
32
32
32
32
32
32
32
221,948
18,720
6,146
5,607
4,482
3,355
60,778
5,432
30,050
356,518
7 5 4 , 110
193,694
17,350
7,586
5,699
3,580
3,355
56,943
4,648
33,082
325,937
6 4 1, 3 6 1
(319,964)
55,650
(2 6 4 , 3 14 )
(259,278)
48,795
(2 10 , 4 8 3 )
108,980
645,130
7 5 4 , 110
81,153
560,208
6 4 1, 3 6 1
297,008
192,788
489,796
246,320
184,558
430,878
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
Plant, equipment and infrastruc ture
Intangibles
Investment property
Inventories
Biologic al assets
Heritage and c ultural assets
Assets held for sale
Other non- financ ial assets
Total non- financ ial assets
Tota l a sse ts
25
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
Ac c umulated results
Reserves
Minority interests
Ne t worth
Current liabilities
Non- c urrent liabilities
Tota l lia bilitie s by ma turity
Current assets
Non- c urrent assets
Tota l a sse ts by ma turity
The above statement should be read in conjunction with the accompanying notes.
42
Australian Government cash flow statement
for the year ended 30 June 2014
Note
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
Other rec eipts
Tota l c a sh re c e ive d
Ca 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
Ne t c a sh flows from ope ra ting a c tivitie s
34A
INV ES TING ACTIV ITIES
Ca sh flows from 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
Ca sh flows from inve stme nts in fina nc ia l
a sse ts for polic y purpose s
Net advanc es repaid/(paid)
Ne t c a sh flows from inve stme nts in fina nc ia l
a sse ts for polic y purpose s
Ca sh flows from inve stme nts in fina nc ia l
a sse ts for liquidity purpose s
Dec rease/(Inc rease) in investments
Ne t c a sh flows from inve stme nts in fina nc ia l
a sse ts for liquidity purpose s
Ne t c a sh from/ (use d by) inve sting a c tivitie s
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
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)
Financ e leases and similar arrangements
G FS c a sh surplus/ (de fic it)
34B
The above statement should be read in conjunction with the accompanying notes.
43
2014
$m
2013
$m
338,372
24,208
4,222
2,048
7,082
375,932
326,284
23,078
4,620
2,088
6,828
362,898
(30,063)
(85,429)
(140,092)
(14,308)
(126,367)
(7,153)
(4 0 3 , 4 12 )
(2 7 , 4 8 0 )
(28,895)
(81,661)
(127,580)
(11,835)
(116,629)
(6,580)
(3 7 3 , 18 0 )
(10 , 2 8 2 )
719
(13,337)
(12 , 6 18 )
1,780
(10,953)
(9 , 17 3 )
(6,429)
(6 , 4 2 9 )
(4,521)
(4 , 5 2 1)
(33,504)
(3 3 , 5 0 4 )
(9,169)
(9 , 16 9 )
(5 2 , 5 5 1)
(2 2 , 8 6 3 )
87,529
1,919
89,448
36,545
1,744
38,289
(8,965)
(8 , 9 6 5 )
80,483
452
4,062
4 , 5 14
(5,102)
(5 , 10 2 )
3 3 , 18 7
42
4,020
4,062
(27,480)
(12,618)
(4 0 , 0 9 8 )
(2,662)
(4 2 , 7 6 0 )
(10,282)
(9,173)
(19 , 4 5 5 )
(1,388)
(2 0 , 8 4 3 )
as at 30 June 2014
Australian Government
Item
Opening balance as at 1 July 2013
Non-material changes in accounting policy and errors
Adjusted opening balance as at 1 July 2013
Asset
Accumulated revaluation
results
reserve
$m
$m
(259,278)
33,828
506
16
(258,772)
33,844
44
Comprehensive result - Total change in net w orth
(53,835)
Transfers to/(from)/betw een reserves
(7,357)
Equity as at 30 June 2014
(319,964)
less : Minority interests
Attributable to the Australian Governm ent
(319,964)
The above statement should be read in conjunction with the accompanying notes.
1,461
37
35,342
35,342
Reserves
Foreign
currency
translation Investments Statutory
Other
Total
reserve
reserve
funds reserves reserves
$m
$m
$m
$m
$m
(155)
13,971 (3,248)
4,399
48,795
(1)
29
44
88
(156)
14,000 (3,248)
4,443
48,883
(166)
(322)
(322)
(1,993)
(982)
11,025
11,025
3
8,799
5,554
5,554
105
(497)
4,051
4,051
(590)
7,357
55,650
55,650
Total
$m
(210,483)
594
(209,889)
(54,425)
(264,314)
(264,314)
Consolidated financial statements
Australian Government statement of changes in equity
Australian Government statement of changes in equity (continued)
as at 30 June 2013
Australian Government
Item
Opening balance as at 1 July 2012
Changes in accounting policy and errors
Adjusted opening balance as at 1 July 2012
Asset
Accumulated revaluation
results
reserve
$m
$m
(301,785)
159
(301,626)
45
Comprehensive result - Total change in net w orth
46,648
Transfers to/(from)/betw een reserves
(4,300)
Net w orth as at 30 June 2013
(259,278)
less: Minority interests
Attributable to the Australian Governm ent
(259,278)
The above statement should be read in conjunction with the accompanying notes.
Reserves
Foreign
currency
translation Investments Statutory
Other
Total
reserve
reserve
funds reserves reserves
$m
$m
$m
$m
$m
Total
$m
33,985
(119)
33,866
(158)
(158)
13,977
2
13,979
(3,693)
(3,693)
814
7
821
44,925
(110)
44,815
(256,860)
49
(256,811)
(40)
2
33,828
33,828
3
(155)
(155)
(8)
13,971
13,971
(143)
588
(3,248)
(3,248)
(132)
3,710
4,399
4,399
(320)
4,300
48,795
48,795
46,328
(210,483)
(210,483)
Consolidated financial statements