SECTOR SCHEDULES
Schedule of Commitments by sector(a)
as at 30 June 2003
General
government
2003
2002
$m
$m
Public non-financial
corporations
2003
2002
$m
$m
Public financial
corporations
2003
2002
$m
$m
BY TYPE
Capital com m itm ents
Land and buildings
Infrastructure, plant and equipment
Specialist military equipment
Investments
Other capital commitments
Total capital com m itm ents
544
278
7,623
156
1,244
9,845
764
115
6,892
16
585
8,372
5
390
553
948
52
463
554
1,069
10
10
12
12
Other com m itm ents
Operating leases (non-cancellable)
Project commitments
Research and development
Goods and services contracts
Grant commitments
Other commitments
Total other com m itm ents
8,642
3,079
790
7,776
69,637
6,183
96,107
7,504
3,791
742
5,167
38,929
7,515
63,648
2,229
5
1
2,750
3,280
8,265
1,619
10
2
3,384
3,181
8,196
66
70
136
21
84
105
105,952
72,020
9,213
9,265
146
117
Total com m itm ents
less
Commitments receivable
Net com m itm ents
BY MATURITY
Capital
One year or less
From one to five years
Over five years
Operating leases (non-cancellable)
One year or less
From one to five years
Over five years
Other
One year or less
From one to five years
Over five years
5,108
4,556
32
36
-
-
100,844
67,464
9,181
9,229
146
117
3,792
4,396
779
8,967
3,494
3,912
966
8,372
502
446
948
539
508
23
1,070
9
2
11
12
12
1,704
4,231
2,239
8,174
1,567
3,913
2,024
7,504
600
1,020
608
2,228
470
638
511
1,619
12
29
25
66
10
10
1
21
27,830
54,623
1,250
83,703
27,668
21,111
2,809
51,588
1,510
2,314
2,181
6,005
1,749
2,996
1,795
6,540
32
37
69
27
57
84
Net com m itm ents by m aturity
100,844 67,464
9,181
9,229
146
117
Commitments are GST inclusive where relevant.
The above schedule should be read in conjunction with the accompanying notes.
(a) Transactions between sectors are included in this statement but eliminated in the consolidated
statements to avoid double counting. Accordingly, the sum of the amounts for each line item may exceed
or be less than the equivalent amount in the consolidated statements.
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Schedule of Contingencies by sector(a,b)
as at 30 June 2003
General
Public non-financial Public financial
government
corporations
corporations
2003
2002
2003
2002
2003
2002
$m
$m
$m
$m
$m
$m
QUANTIFIABLE CONTINGENT LIABILITIES
Guarantees
Indemnities
Uncalled shares/Capital subscriptions
Claims for damages/costs
Other contingencies
Total quantifiable contingent liabilities
less
Quantifiable contingent assets
Net quantifiable contingencies
310
465
8,112
284
587
9,758
300
421
9,573
265
749
11,308
2,002
277
7
2,286
2,411
369
5
2,785
127
73
200
127
79
206
427
295
-
2
-
-
9,331
11,013
2,286
2,783
200
206
Contingencies excluded from the
schedule of contingencies
on the basis of remoteness
REMOTE CONTINGENT LIABILITIES
Guarantees(c)
48,722 56,044
Other
1,518 27,862
1,917
2,102
Total rem ote contingent liabilities
50,240 83,906
1,917
2,102
The above schedule should be read in conjunction with the accompanying notes.
(a) Refer to the Schedule of Contingencies for further details on quantifiable and non-quantifiable
contingencies.
(b) Transactions between sectors are included in this statement but eliminated in the consolidated
statements to avoid double counting. Accordingly, the sum of the amounts for each line item may
exceed or be less than the equivalent amount in the consolidated statements.
(c) The Australian Industry Development Corporation (AIDC) had outstanding Australian Government
guaranteed borrowings, which totalled approximately $1.36 billion as at 30 June 2003. These borrowing
obligations have been matched by AIDC’s holdings of Australian Government guaranteed securities of
similar value, largely eliminating the Australian Government’s guarantee exposure. These securities
were purchased on-market by UBS Warburg and paid to AIDC as consideration for UBS’s purchase of
AIDC Ltd’s (a subsidiary of AIDC) financial assets. UBS Warburg manages this borrowing portfolio on
behalf of AIDC. The UBS Warburg arrangement also provides a guarantee to cover any cash flow
differences between the interest rate and maturity profiles of the matched borrowings and securities,
together with any exchange rate movements in the borrowings. The Australian Government General
Government Sector’s contingent exposure to these borrowings is therefore negligible and is
consequently recorded as zero.
80