PORTFOLIO ADDITIONAL
ESTIMATES STATEMENTS 2011-12
FINANCE AND DEREGULATION PORTFOLIO
EXPLANATIONS OF ADDITIONAL ESTIMATES 2011-12
ISBN 978 1743 02 6786
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The document must be attributed as the Finance and Deregulation Portfolio Additional
Estimates Statements 2011-12.
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FYSHWICK ACT 2609
SENATOR THE HON PENNY WONG
Minister for Finance and Deregulation
President of the Senate
Australian Senate
Parliament House
CANBERRA ACT 2600
Speaker
House of Representatives
Parliament House
CANBERRA ACT 2600
Dear Mr President
Dear Mr Speaker
I hereby submit Portfolio Additional Estimates Statements in support of the
2011-12 Additional Estimates for the Finance and Deregulation Portfolio.
These statements have been developed, and are submitted to the Parliament, as
a statement on the funding requirements being sought for the Portfolio.
I present these statements by virtue of my ministerial responsibility for
accountability to the Parliament and, through it, the public.
Yours sincerely
Penny Wong
Abbreviations and conventions
The following notations may be used:
NEC/nec
not elsewhere classified
-
nil
..
not zero, but rounded to zero
na
not applicable (unless otherwise specified)
nfp
not for publication
$m
$ million
Figures in tables and in the text may be rounded. Figures in text are generally
expressed in $million rounded to one decimal place, whereas figures in tables are
generally rounded to the nearest thousand. Discrepancies in tables between totals and
sums of components are due to rounding.
Enquiries
Should you have any enquiries regarding this publication please contact
Michael Burton, Chief Financial Officer in the Department of Finance and Deregulation
on (02) 6215 2222.
A copy of this document can be located on the Australian Government Budget website
at: http://www.budget.gov.au.
iv
USER GUIDE
TO THE
PORTFOLIO ADDITIONAL
ESTIMATES STATEMENTS
USER GUIDE
The purpose of the Portfolio Additional Estimates Statements (PAES), like that of the
Portfolio Budget Statements (PB Statements), is to inform Senators and Members of
Parliament and the public of the proposed allocation of resources to Government
outcomes by agencies within the portfolio. The focus of the PAES differs from the PB
Statements in one important aspect. While the PAES include an Agency Resource
Statement to inform Parliament of the revised estimate of the total resources available
to an agency, the focus of the PAES is on explaining the changes in resourcing by
outcome(s) since the Budget. As such, the PAES provides information on new
measures and their impact on the financial and/or non-financial planned performance
of programs supporting those outcomes.
The PAES facilitate understanding of the proposed appropriations in Appropriation
Bills (No. 3 and No. 4) 2011-12. In this sense the PAES is declared by the Additional
Estimates Appropriation Bills to be a ‘relevant document’ to the interpretation of the
Bills according to section 15AB of the Acts Interpretation Act 1901.
Whereas the Mid-Year Economic and Fiscal Outlook 2011-12 is a mid-year budget report
which provides updated information to allow the assessment of the Government’s
fiscal performance against its fiscal strategy, the PAES update the most recent budget
appropriations for agencies within the portfolio.
vii
User Guide
STRUCTURE OF THE PORTFOLIO ADDITIONAL ESTIMATES STATEMENTS
The PAES are presented in three parts with subsections.
User guide
Provides a brief introduction explaining the purpose of the PAES.
Portfolio overview
Provides an overview of the portfolio, including a chart that outlines the outcomes for agencies
in the portfolio.
Agency additional estimates statements
A statement (under the name of the agency) for each agency affected by Additional
Estimates.
Section 1: Agency
overview and resources
This section details the total resources available to an agency,
the impact of any measures since Budget, and their impact on
Appropriation Bills No. 3 and No. 4.
Section 2: Revisions to
outcomes and planned
performance
This section details changes to Government outcomes and/or
changes to the planned performance of agency programs.
Section 3: Explanatory
tables and budgeted
financial statements
This section contains updated explanatory tables on special
account flows and staffing levels and revisions to the budgeted
financial statements.
Glossary
Explains key terms relevant to the Portfolio.
viii
CONTENTS
Portfolio Overview......................................................................................................... 3
Agency Additional Estimates Statements .................................................................. 7
Department of Finance and Deregulation ....................................................................... 9
Glossary and Acronyms ............................................................................................. 57
ix
PORTFOLIO OVERVIEW
PORTFOLIO OVERVIEW
PORTFOLIO OVERVIEW
There has been one significant change to the portfolio to that described in the
2011-12 Portfolio Budget Statements.
The Commonwealth Superannuation Corporation (CSC) was established when the
Governance of Australian Government Superannuation Schemes Act 2011 merged the
Australian Reward Investment Alliance (ARIA), the Military Superannuation and
Benefits Board and the Defence Force Retirement and Death Benefits Authority, to
form a single trustee body with effect from 1 July 2011.
The Finance and Deregulation portfolio outcomes are represented in Figure 1 on
page 5.
ADDITIONAL ESTIMATES AND VARIATIONS – PORTFOLIO LEVEL
Additional estimates and variations are being sought for the Department of Finance
and Deregulation (Finance). These are detailed in the respective statements later in
this document, with a brief outline of the changes summarised below.
Funding for the other agencies within the portfolio, being the Australian Electoral
Commission, the Commonwealth Superannuation Corporation, ComSuper and the
Future Fund Management Agency, remains unchanged.
Department of Finance and Deregulation
Finance is seeking net additional funding of $0.8 million in Appropriation Bill No. 3.
Finance’s administered special appropriation will increase by $172.3 million in
2011-12.
Key net additional funding on a fiscal balance basis is as follows:



The Government will provide $0.1 million in 2011-12 (a total of $0.4 million
over four years) to conduct Gateway reviews of the establishment and
operation of the Government’s Clean Energy Regulator; and
Flowing from the Remuneration Tribunal’s determination 2011/16 to increase
travel allowance for Senators and Members, the Government will provide
$0.3 million in 2011-12 (a total of $1.2 million over four years) to increase travel
allowance for staff employed under the Members of Parliament (Staff) Act 1984
(MOP(S) Act).
The Government will provide $0.3 million to meet the costs of a 2011
Christmas shutdown for MOP(S) Act staff.
3
Portfolio Overview
In addition, since the 2010-11 PB Statements, the Electorate Office IT function has been
transferred to the Department of Parliamentary Services.
4
Portfolio Overview
Figure 1: Finance and Deregulation portfolio structure and outcomes
Minister for Finance and Deregulation
Senator the Hon Penny Wong
Special Minister of State
The Hon Gary Gray AO MP
Department of Finance and Deregulation
Portfolio Secretary: Mr David Tune PSM
Outcome 1
Outcome 2
Outcome 3
Informed decisions on Government finances and continuous improvement in regulation
making through: budgetary management and advice; transparent financial reporting; a
robust financial framework; and best practice regulatory processes.
Improved Government administration and operations through, systems, policy and
advice on: procurement; Commonwealth property management and construction;
government enterprises; risk management; and application of information and
communications technology.
Support for Parliamentarians, others with entitlements and organisations as approved
by Government through the delivery of entitlements and targeted assistance.
Australian Electoral Commission
Electoral Commissioner: Mr Ed Killesteyn PSM
Outcome 1
Maintain an impartial and independent electoral system for eligible voters through
active electoral roll management, efficient delivery of polling services, and targeted
education and public awareness programs.
Commonwealth Superannuation Corporation
Chairman: Mr Tony Hyams
Outcome 1
Retirement benefits for past, present and future Australian Government employees
through investment and administration of government superannuation funds and
schemes.
ComSuper
Chief Executive Officer: Mr Peter Cormack
Outcome 1
Access to Australian Government superannuation benefits and information, through
developing members’ understanding of the schemes, processing contributions,
supporting investment processes, paying benefits and managing member details, for
Australian Public Servants and Defence Force members, on behalf of the Trustee
Board.
Future Fund Management Agency
Chief Executive Officer: Mr David Murray AO
Outcome 1
Make provision for the Commonwealth’s unfunded superannuation liabilities and
payments for the creation and development of infrastructure, by managing the
operational activities of the Future Fund and Nation-Building Funds, in line with the
Government’s investment mandate.
5
Portfolio Overview
PORTFOLIO ADDITIONAL RESOURCES
Table 1 shows for those agencies reporting in the Portfolio Additional Estimates
Statements the additional resources provided to the portfolio in the 2011-12 budget
year, by agency.
Table 1: Portfolio Additional Resources 2011-12
Appropriation
Bill No. 3
Bill No. 4
$m
$m
Departm ent of Finance and
Deregulation
Administered appropriations
Departmental appropriations
Total:
Australian Electoral
Com m ission
Administered appropriations
Departmental appropriations
Total:
Com m onw ealth Superannuation
Corporation
Administered appropriations
Departmental appropriations
Total:
Com Super
Administered appropriations
Departmental appropriations
Total:
Future Fund Managem ent
Agency
Administered appropriations
Departmental appropriations
Total:
Special
$m
Receipts
Total
$m
$m
1
..
-
172
-
716
13
889
13
902
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Portfolio total
Less amounts transferred
w ithin portfolio
902
-
-
-
-
Resources available w ithin portfolio:
6
902
AGENCY ADDITIONAL ESTIMATES
STATEMENTS
Department of Finance and Deregulation ................................................................... 9
DEPARTMENT OF FINANCE AND DEREGULATION
Section 1: Agency Overview and Resources ........................................................... 11
1.1 Strategic Direction .................................................................................................. 11
1.2 Agency Resource Statement ................................................................................. 11
1.3 Agency Measures Table ........................................................................................ 15
1.4 Additional Estimates and Variations ...................................................................... 16
1.5 Breakdown of Additional Estimates by Appropriation Bill ...................................... 18
Section 2: Revisions to Agency Outcomes and Planned Performance ................ 20
2.1 Resources and Performance Information .............................................................. 20
Section 3: Explanatory Tables and Budgeted Financial Statements..................... 36
3.1 Explanatory Tables ................................................................................................ 36
3.2 Budgeted Financial Statements ............................................................................. 41
9
DEPARTMENT OF FINANCE AND DEREGULATION
Section 1: Agency Overview and Resources
1.1
STRATEGIC DIRECTION
A full outline of the Department of Finance and Deregulation’s (Finance) Strategic
Direction can be found in the 2011-12 PB Statements.
1.2
AGENCY RESOURCE STATEMENT
The Agency Resource Statement details the resourcing for Finance at Additional
Estimates. Table 1.1 outlines the total resourcing available from all sources for the
2011-12 Budget year, including variations through Appropriation Bills No. 3 and No. 4,
special appropriations and special accounts.
11
Finance Additional Estimates Statements
Table 1.1: Department of Finance and Deregulation Resource Statement —
Additional Estimates for 2011-12 as at Additional Estimates February 2012
Estimate
at Budget
2011-12
$'000
2011-12
$'000
Total
estimate
at Additional
Estimates
2011-12
$'000
314,591
21,092
335,683
100
100
314,691
21,092
335,783
254,122
15,542
269,664
14,689
681
236,534
251,904
656
656
14,689
681
237,190
252,560
15,135
666
225,092
240,893
587,587
756
588,343
510,557
208,000
208,000
-
208,000
208,000
161,796
161,796
1,789
1,789
-
1,789
1,789
2,054
2,054
209,789
-
209,789
163,850
797,376
756
798,132
674,407
1,126
812
76,233
127
(4,807)
1,126
939
71,426
210
1,229
35,641
+
Proposed
Additional
Estimate
=
Total
available
appropriation
2010-11
$'000
1
Ordinary annual services
Departmental appropriation
2
Departmental appropriation
s31Relevant agency receipts 3
Total
Administered expenses
Outcome 1
Outcome 2
Outcome 3 4
Total
Total ordinary annual services
A
5
Other services
Departmental non-operating
Equity injections
Total
Administered non-operating
Administered assets and liabilities
Total
Total other services
Total available annual
appropriations
Special appropriations
Special appropriations limited
by criteria/ entitlement
Federal Magistrates Act 1999 Section 9G
Governor-General Act 1974
Judges' Pensions Act 1968
Members of Parliament (Life
B
1,750
1,344
3,094
1,600
Parliamentary Contributory
Superannuation Act 1948
52,600
(315)
52,285
33,840
Parliamentary Entitlements
Act 1990
150,337
2,750
153,087
147,306
3,045
-
3,045
2,709
159
49,815
3,327,518
2,777,415
100
(673)
(12,170)
183,962
-
159
49,142
3,315,348
2,961,377
100
158
143,680
3,857,924
910,022
35
-
1,992
1,992
-
Gold Pass) Act 2002
Parliamentary Superannuation
Act 2004
Same-Sex Relationships
(Equal Treatment in
Commonwealth Laws Superannuation) Act 2008
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Superannuation Legislation
(Consequential Amendments and
Transitional Provisions) Act 2011
12
Finance Additional Estimates Statements
Table 1.1: Department of Finance and Deregulation Resource Statement —
Additional Estimates for 2011-12 as at Additional Estimates February 2012
(continued)
Estimate
at Budget
2011-12
$'000
2011-12
$'000
Total
estimate
at Additional
Estimates
2011-12
$'000
3,283
191
3,474
3,340
1,310,392
7,754,585
(127)
172,274
1,310,265
7,926,859
1,328,597
6,466,291
8,551,961
173,030
8,724,991
7,140,698
476,083
20,310
175,165
41,891
-
517,974
20,310
175,165
619,667
16,884
160,860
5,891,360
6,562,918
729,016
770,907
6,620,376
7,333,825
43,890,953
44,688,364
15,114,879
943,937
16,058,816
51,829,062
(195,475)
(1,992)
(197,467)
(177,744)
14,919,404
Reader note: All figures are GST exclusive.
941,945
15,861,349
51,651,318
Special appropriations limited
by amount
Commonwealth of Australia
Constitution Act 1901(s.66)
Special appropriations limited
by capital
Special capital appropriations
Total special appropriations
C
Total appropriations excluding
special accounts
Special accounts
Opening balance 6
Appropriation receipts
Equity injections
Non-appropriation receipts to
special accounts
Total special accounts
Total resourcing
A+B+C+D
Less appropriations drawn from
annual or special appropriations above
and credited to special accounts
D
and/or CAC Act bodies through
annual appropriations
Total net resourcing for Finance
+
Proposed
Additional
Estimate
=
Total
available
appropriation
2010-11
$'000
1. Appropriation Bills (No.1 & 3) 2011-12.
2. Includes an amount of $16.631m in 2011-12 for the Departmental Capital Budget (refer to table 3.2.5 for
further details). For accounting purposes this amount has been designated as 'contributions by owners'.
Also included is an amount of $0.353m as departmental supplementation.
3. Section 31 Relevant Agency receipts — estimate.
4. Includes an amount of $3.320m for the Administered Capital Budget (refer to table 3.2.10 for further
information).
5. Appropriation Bills (No.2 & 4) 2010-11.
6. Actual opening balance for special accounts (less ‘Special Public Money’ held in accounts like Other
Trust Monies (OTM) and Services for other Government and Non-agency Bodies (SOG) accounts). For
further information on special accounts see Table 3.1.1.
13
Finance Additional Estimates Statements
Table 1.1: Department of Finance and Deregulation Resource Statement —
Additional Estimates for 2011-12 as at Additional Estimates February 2012
(continued)
Third Party Drawdowns from and on behalf of other agencies
Estimate at
Budget
Payments made on behalf of Finance:
ComSuper:
Same-Sex Relationships
(Equal Treatment in
Commonwealth Laws Superannuation) Act 2008
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Appropriation Act 1 1
Appropriation Act 1
Appropriation Act 2
2
2
2011-12
$'000
Estimate at
Additional
Estimates
2011-12
$'000
159
49,815
3,327,518
2,777,415
100
500
644
788
159
49,142
3,315,348
2,961,377
100
500
644
788
736
1,080
586
736
1,080
450
1,965
1,755
450
1,965
300
300
-
-
-
13,470
4,033
4,033
Department of the Senate:
Commonwealth of Australia
Constitution Act 1901(s.66)
Parliamentary Entitlements Act 1990
Parliamentary Superannuation Act 2004
Department of the House of Representatives:
Commonwealth of Australia
Constitution Act 1901(s.66)
Parliamentary Entitlements Act 1990
Parliamentary Superannuation Act 2004
Attorney-General's Department:
Parliamentary Entitlements Act 1990
Department of Defence:
Parliamentary Entitlements Act 1990
Department of Parliamentary Services
Parliamentary Entitlements Act 1990
Fair Work Australia:
Judges' Pension Act 1968
Payments made by Finance on behalf of other agencies:
Attorney-Generals Department Law Officers Act 1964
Australian Secret Intelligence
Organisation - Appropriation Act 2
Department of the Prime Minister and Cabinet Appropriation Act 1
400
1. Compensation and Legal Payments
2. Acts of Grace Payments
14
169,216
135,384
-
3,851
Finance Additional Estimates Statements
1.3
AGENCY MEASURES TABLE
Table 1.2 summarises new Government measures taken since the 2011-12 Budget. The
table is split into revenue, expense and capital measures, with the affected program
identified.
Table 1.2: Agency 2011-12 Measures since Budget
Program
2011-12
$'000
2012-13
$'000
2013-14
$'000
2014-15
$'000
Expense m easures
Departmental expenses
Clean Energy Future - Governance Clean Energy Regulator 1
1.1
Reducing the cost of Government
administration - one-off efficiency dividend
(100)
2
Total expense m easures
Departmental
Total
-
(100)
(100)
(100)
4,967
4,561
4,492
4,867
4,867
4,461
4,461
4,392
4,392
-
2,077
2,749
2,823
-
2,077
2,077
2,749
2,749
2,823
2,823
(100)
(100)
Capital m easures
Departmental Capital
Departmental Capital Budgets Savings 3
Total capital m easures
Departmental
Total
Note: This table has been prepared on a Government Financial Statistics (fiscal) basis. A positive amount
indicates an improvement to fiscal balance while a negative amount indicates a worsening of fiscal balance.
1. The lead agency for the measure Clean Energy Future – Governance – Clean Energy Regulator is the
Department of Climate Change and Energy Efficiency. The full measure description and package details
appear in the Mid Year Economic and Fiscal Outlook under the Climate Change and Energy Efficiency
Portfolio.
2. The measure Reducing the cost of Government administration – one-off efficiency dividend is a cross
portfolio measure. The full measure description and package details appear in the Mid Year Economic
and Fiscal Outlook as a cross portfolio measure.
3. The measure Departmental Capital Budgets - Savings is a cross portfolio measure. The full measure
description and package details appear in the Mid Year Economic and Fiscal Outlook as a cross portfolio
measure.
15
Finance Additional Estimates Statements
1.4
ADDITIONAL ESTIMATES AND VARIATIONS
The following tables detail the changes to the resourcing for Finance at Additional
Estimates, by outcome. Table 1.3 details the Additional Estimates and Variations
resulting from new measures since the 2011-12 Budget in Appropriation Bills No. 3
and No. 4. Table 1.4 details Additional Estimates or Variations through other factors,
such as parameter adjustments.
Table 1.3: Additional Estimates and Variations to Outcomes from Measures
since 2011-12 Budget
Program
impacted
Outcom e 1
Increase in estimates (departmental)
Clean Energy Future - Governance Clean Energy Regulator
Net impact on estimates
for Outcome 1 (departmental)
1.1
All outcom es
Decrease in estimates (departmental)
Reducing the cost of Government
administration - one-off efficiency dividend
Departmental Capital Budgets Savings
Net impact on estimates
for Outcome 2 (departmental)
2011-12
$'000
2012-13
$'000
2013-14
$'000
2014-15
$'000
100
100
100
100
100
100
100
100
-
(4,967)
(4,561)
(4,492)
-
(2,077)
(2,749)
(2,823)
-
(7,044)
(7,310)
(7,315)
Note: This table has been prepared on an appropriation basis. A positive amount indicates an increase to
Finance’s appropriations while a negative amount indicates a decrease to Finance’s appropriations.
16
Finance Additional Estimates Statements
Table 1.4: Additional Estimates and Variations to Outcomes from Other
Variations
Program
impacted
Outcom e 1
Increase in estimates (administered)
Superannuation estimates update
1.2
Net impact on estimates
for Outcome 1 (administered)
Increase in estimates (departmental)
Economic Parameter Update
Net impact on estimates
for Outcome 1 (departmental)
Outcom e 2
Increase in estimates (departmental)
Economic Parameter Update
Net impact on estimates
for Outcome 2 (departmental)
Outcom e 3
Increase in estimates (administered)
Economic Parameter Update
3.1
Electorate Office IT - adjustment to
special appropriation estimates
3.1
Adjustment to Ministers of State Act
1952 to provide for parliamentarian
salary increase on 1 July 2011
3.1
Adjustment to Canberra Travelling
allow ance for Senators and
Members
3.1
Determination regarding 2011
Christmas shutdow n for MOP(S)
Staff
3.1
Adjustment to Canberra Travelling
allow ance for MOP(S) Staff
3.1
Adjustment to FBT calculations for
the Life Gold Pass
3.1
Increase in charter allow ance
entitlement
3.1
Adjustment - exceptional circumstances
payments
3.1
Decrease in estimates (administered)
Transfer of Electorate Office IT
to the Department of Parliamentary
Services
3.1
Net impact on estimates
for Outcome 1 (administered)
Increase in estimates (departmental)
Economic Parameter Update
Decrease in estimates (departmental)
Transfer of Electorate Office IT
to the Department of Parliamentary
Services
3.1
Net impact on estimates
for Outcome 1 (departmental)
2011-12
$'000
2012-13
$'000
2013-14
$'000
2014-15
$'000
165,997
-
1
-
165,997
-
1
-
-
114
218
108
-
114
218
108
-
58
105
51
-
58
105
51
-
197
2,331
2,188
2,223
2,216
191
191
191
191
268
328
334
341
272
332
338
345
1,344
1,368
1,392
1,416
32
49
50
51
119
-
-
-
(8)
(206)
348
(236)
(245)
(249)
(254)
4,669
4,408
4,271
4,100
-
28
47
22
(472)
(543)
(546)
(560)
(472)
(515)
(499)
(538)
Note: This table has been prepared on an appropriation basis. A positive amount indicates an increase to
Finance’s appropriations while a negative amount indicates a decrease to Finance’s appropriations.
17
Finance Additional Estimates Statements
1.5 BREAKDOWN OF ADDITIONAL ESTIMATES BY APPROPRIATION
BILL
The following tables detail the Additional Estimates sought for Finance through
Appropriation Bills No. 3 and No. 4.
Table 1.5: Appropriation Bill (No. 3) 2011-12
ADMINISTERED ITEMS
Outcom e 1
Informed decisions on Government
finances and continuous improvement
in regulation making through:
budgetary management and advice;
transparent financial reporting; a
robust financial framew ork; and best
practice regulatory processes
Outcom e 2
Improved Government administration
and operations through, systems,
policy and advice on: procurement;
Commonw ealth property management
and construction; government
enterprises; risk management; and
application of information and
communications technology
Outcom e 3
Support for Parliamentarians, others
w ith entitlements and organisations as
approved by Government through the
delivery of entitlements and targeted
assistance
Total
2010-11
Available
$'000
2011-12
Budget
$'000
15,135
14,689
14,689
-
-
666
681
681
-
-
225,092
240,893
236,534
251,904
237,190
252,560
656
656
-
18
2011-12 Additional Reduced
Revised Estimates Estimates
$'000
$'000
$'000
Finance Additional Estimates Statements
Table 1.5: Appropriation Bill (No. 3) 2011-12 (continued)
2010-11
Available
$'000
DEPARTMENTAL PROGRAMS
Outcom e 1
Informed decisions on Government
finances and continuous improvement
in regulation making through:
budgetary management and advice;
transparent financial reporting; a
robust financial framew ork; and best
practice regulatory processes
Outcom e 2
Improved Government administration
and operations through, systems,
policy and advice on: procurement;
Commonw ealth property management
and construction; government
enterprises; risk management; and
application of information and
communications technology
Outcom e 3
Support for Parliamentarians, others
w ith entitlements and organisations as
approved by Government through the
delivery of entitlements and targeted
assistance
Total
Total adm inistered and
departm ental
2011-12
Budget
$'000
2011-12 Additional Reduced
Revised Estimates Estimates
$'000
$'000
$'000
129,892
131,341
131,441
100
-
89,256
69,545
69,545
-
-
36,783
255,931
43,849
244,735
43,849
244,835
100
-
496,824
496,639
497,395
756
-
Table 1.6: Appropriation Bill (No. 4) 2011-12
This table is not required as Finance is not seeking any additional estimates through
Appropriation Bill (No. 4) 2011-12.
19
Finance Additional Estimates Statements
Section 2: Revisions to Agency Resources and Planned
Performance
2.1
RESOURCES AND PERFORMANCE INFORMATION
No changes have been made to Finance’s outcome structure since the
2011-12 PB Statements. Changes to programs from Additional Estimates are detailed
on pages 21-35. Complete details of Finance’s outcomes and performance information
can be found in the 2011-12 PB Statements.
OUTCOME 1
Outcome 1 Strategy
No changes have been made to this outcome strategy since the 2011-12 PB Statements.
20
Finance Additional Estimates Statements
Table 2.1.1 Budgeted Expenses for Outcome 1
Outcom e 1: Inform ed decisions on Governm ent finances
and continuous im provem ent in regulation m aking
through: budgetary m anagem ent and advice; transparent
financial reporting; a robust financial fram ew ork; and best
practice regulatory processes.
Program 1.1: Budget, Financial Managem ent and
Better Regulation
Administered expenses
Ordinary annual services (Appropriation Bill No. 1)
Central Banking Agreement
Departmental expenses
Ordinary annual services (Appropriation Bills No. 1 & 3)
Departmental Appropriations 1
Budget Advice
Financial Reporting
Financial Framew ork
Deregulation and Regulatory Reform
Expenses not requiring appropriation in the Budget year
2
Total for Program 1.1
Program 1.2: Public Sector Superannuation
Administered expenses
Ordinary annual services (Appropriation Bill No. 1)
Act of Grace Nominal Interests
Compensation and Legal Expenses
Superannuation Administration Costs
Expenses not requiring appropriation in the Budget year 2
Special Appropriations
Federal Magistrates Act 1999 Section 9G
Governor-General Act 1974
Judges' Pensions Act 1968
Parliamentary Contributory Superannuation Act 1948
Parliamentary Superannuation Act 2004
Same-Sex Relationships (Equal Treatment in Commonwealth
Laws - Superannuation) Act 2009
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Superannuation Legislation (Consequential Amendments and
Transitional Provisions) Act 2011 3
21
2010-11
Actual
expenses
$'000
2011-12
Revised
estimated
expenses
$'000
1,717
3,000
50,555
27,689
26,768
10,539
4,086
53,375
24,360
22,797
12,599
5,387
121,354
121,518
645
387
10,443
928
644
500
10,545
-
1,202
924
69,200
51,582
2,709
1,126
939
71,426
52,285
3,045
1,249
52,607
3,289,747
2,884,442
37
159
49,142
3,315,347
2,961,376
100
-
-
Finance Additional Estimates Statements
Table 2.1.1 Budgeted Expenses for Outcome 1 (continued)
Outcom e 1: Inform ed decisions on Governm ent finances
and continuous im provem ent in regulation m aking
through: budgetary m anagem ent and advice; transparent
financial reporting; a robust financial fram ew ork; and best
practice regulatory processes.
Departmental expenses
Departmental Appropriations 1
Public Sector Superannuation
Expenses not requiring appropriation in the Budget year
2
Total for Program 1.2
Program 1.3: Nation Building Funds
Administered expenses
Special Accounts
Building Australia Fund Special Account
Education Investment Fund Special Account
Health and Hospitals Fund Special Account
Total for Program 1.3
Outcom e 1 Totals by appropriation type
Administered Expenses
Ordinary annual services (Appropriation Bill No. 1)
Special Appropriations
Special Accounts
Expenses not requiring appropriation in the Budget year
Departmental expenses
Departmental Appropriations 1
Expenses not requiring appropriation in the Budget year
Total expenses for Outcom e 1
Average Staffing Level (num ber)
2
2
2010-11
Actual
expenses
$'000
2011-12
Revised
estimated
expenses
$'000
15,502
20
16,024
255
6,381,624
6,482,913
1,516,196
1,354,721
1,073,262
1,844,591
905,225
1,504,743
3,944,179
4,254,559
13,192
6,353,699
3,944,179
928
14,689
6,454,945
4,254,559
-
131,053
4,106
129,155
5,642
10,447,157
10,858,990
2010-11
693
2011-12
796
1. Departmental Appropriation combines ‘Ordinary annual services’ (Appropriation Bills No.1 and 3) and
‘Revenue from Independent Sources (s31)’.
2. Expenses not requiring appropriation in the Budget year is made up of Depreciation Expense,
Amortisation Expense, and Resources Received Free of Charge.
3. Expense estimates for this act are zero. The estimate of $1,992k identified for this act in table 1.1
relates to an equity payment.
Note: Departmental appropriation splits and totals are indicative estimates and may change in the course of
the budget year as government priorities change.
22
Finance Additional Estimates Statements
Contributions to Outcome 1
Program 1.1: Budget, Financial Management and Deregulation
Program 1.1 Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 1.1: Budget, Financial Management and Deregulation
2010-11
Actuals
$'000
Annual administered expenses:
Central Banking Agreement
Annual departmental expenses:
Budget Advice
Financial Reporting
Financial Framew ork
Deregulation and Regulatory Reform
Expenses not requiring appropriation in
the Budget year 1
Total program expenses
2011-12
Revised
budget
$'000
2012-13
Forw ard
year 1
$'000
2013-14
Forw ard
year 2
$'000
2014-15
Forw ard
year 3
$'000
1,717
3,000
3,000
3,000
3,000
50,555
27,689
26,768
10,539
53,375
24,360
22,797
12,599
53,660
25,412
19,471
8,590
53,519
17,481
18,995
8,565
54,058
17,542
18,824
8,659
4,086
121,354
5,387
121,518
10,036
120,169
12,586
114,146
12,912
114,995
1. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
Program 1.1 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 1.1 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
23
Finance Additional Estimates Statements
Program 1.2: Public Sector Superannuation
Program Objective

No changes have been made to the Program Objective since the 2011-12 PB
Statements.

From 1 July 2011, Commonwealth Superannuation Corporation (CSC) became
the trustee responsible for the main civilian and military superannuation
schemes, including the Public Sector Superannuation Accumulation Plan, the
Public Sector Superannuation Scheme and the Commonwealth
Superannuation Scheme. These schemes were formerly the responsibility of
the Australian Reward Investment Alliance (ARIA).

With the establishment of CSC (and abolition of ARIA), the objective of this
program is no longer linked to ARIA, rather it is now linked to CSC.
24
Finance Additional Estimates Statements
Program 1.2: Public Sector Superannuation
2010-11
Actuals
Annual administered expenses:
Act of Grace Nominal Interests
Compensation and Legal Expenses
Superannuation Administration Costs
Expenses not requiring appropriation
1
in the Budget year
Special Appropriations:
Federal Magistrates Act 1999 Section 9G
Governor-General Act 1974
Judges' Pensions Act 1968
Parliamentary Contributory
Superannuation Act 1948
Parliamentary Superannuation
Act 2004
Same-Sex Relationships (Equal
Treatment in Commonwealth
Laws - Superannuation) Act 2008
Superannuation Act 1922
Superannuation Act 1976
Superannuation Act 1990
Superannuation Act 2005
Superannuation Legislation
(Consequential Amendments and
Transitional Provisions) Act 2011
Annual departmental expenses:
Public Sector Superannuation
Expenses not requiring appropriation
in the Budget year 1
Total program expenses
2
$'000
2011-12
Revised
budget
$'000
2012-13
Forw ard
year 1
$'000
2013-14
Forw ard
year 2
$'000
2014-15
Forw ard
year 3
$'000
645
387
10,443
644
500
10,545
587
500
10,545
525
500
10,545
525
500
10,545
928
-
-
-
-
1,202
924
69,200
1,126
939
71,426
1,126
828
80,285
1,126
828
84,402
1,126
828
84,603
51,582
52,285
53,900
53,900
53,900
2,709
3,045
3,167
3,293
3,341
1,249
52,607
3,289,747
2,884,442
37
159
49,142
3,315,347
2,961,376
100
163
45,441
3,313,541
2,895,067
100
167
41,331
3,293,255
3,011,874
100
167
40,936
3,264,357
3,141,167
100
-
-
-
-
-
15,502
16,024
13,081
8,895
8,472
20
6,381,624
255
6,482,913
262
6,418,593
242
6,510,983
243
6,610,810
1. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
2. Expense estimates for this act are zero. The estimate of $1,992k identified for this act in table 1.1
relates to an equity payment.
25
Finance Additional Estimates Statements
Program 1.2 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 1.2 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
26
Finance Additional Estimates Statements
Program 1.3: Nation Building Funds
Program Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 1.3: Nation Building Funds
2010-11
Actuals
Special Account Expenses:
Building Australia Fund Special
Account
Education Investment Fund
Special Account
Health and Hospitals Fund
Special Account
Total program expenses
$'000
2011-12
Revised
budget
$'000
2012-13
Forw ard
year 1
$'000
2013-14
Forw ard
year 2
$'000
2014-15
Forw ard
year 3
$'000
1,516,196
1,844,591
1,296,000
953,438
568,269
1,354,721
905,225
540,491
305,780
160,334
1,073,262
3,944,179
1,504,743
4,254,559
681,602
2,518,093
565,605
1,824,823
475,560
1,204,163
Program 1.3 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 1.3 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
27
Finance Additional Estimates Statements
OUTCOME 2
Outcome 2 Strategy
No changes have been made to this outcome strategy since the 2011-12 PB Statements.
Table 2.1.2 Budgeted Expenses for Outcome 2
Outcom e 2: Im proved Governm ent adm inistration and
operations through, system s, policy, and advice on:
procurem ent; Com m onw ealth property m anagem ent and
construction; governm ent enterprises; risk m anagem ent;
and application of inform ation and com m unications
technology.
Program 2.1: Governm ent Business
Administered expenses
Ordinary annual services (Appropriation Bill No. 1)
Grants in Aid - Animals Australia
Grants in Aid - Australian Institute of Policy and Science
Grants in Aid - Chifley Research Centre
Grants in Aid - Green Institute
Grants in Aid - Menzies Research Centre
Grants in Aid - Page Research Centre
Grants in Aid - Royal Humane Society of Australasia
Grants in Aid - RSPCA Australia Inc
Expenses not requiring appropriation in the Budget year 2
Departmental expenses
Departmental Appropriations 1
Government Business Enterprises Ow nerships and Divestment
Special Claims and Land Policy
Australian Government Information Management Office
Procurement Framew ork
Expenses not requiring appropriation in the Budget year 2
Special Accounts
Coordinated Procurement Contracting Special Account
Business Services Special Account
Total for Program 2.1
28
2010-11
Actual
expenses
$'000
2011-12
Revised
estimated
expenses
$'000
32
32
199
50
199
100
23
32
2,927
33
33
204
50
204
102
23
32
-
19,561
3,789
35,285
10,069
6,562
29,215
4,608
30,043
9,367
4,395
64,151
3
73,062
-
143,014
151,371
Finance Additional Estimates Statements
Table 2.1.2 Budgeted Expenses for Outcome 2 (continued)
Outcom e 2: Im proved Governm ent adm inistration and
operations through, system s, policy, and advice on:
procurem ent; Com m onw ealth property m anagem ent and
construction; governm ent enterprises; risk m anagem ent;
and application of inform ation and com m unications
technology.
Program 2.2: Property and Construction
Departmental expenses
Special Accounts
Property Special Account
2010-11
Actual
expenses
$'000
2011-12
Revised
estimated
expenses
$'000
61,625
86,130
61,625
86,130
232,463
135,894
232,463
135,894
667
2,927
681
-
68,704
358,242
6,562
73,233
295,086
4,395
Total Expenses for Outcom e 2
437,102
373,395
Average Staffing Level (num ber)
2010-11
483
2011-12
549
Total for Program 2.2
Program 2.3: Insurance and Risk Managem ent
Departmental expenses
Special Accounts
Comcover Special Account
Total for Program 2.3
Outcom e 2 totals by appropriation type:
Administered expenses
Ordinary annual services (Appropriation Bill No. 1)
Expenses not requiring appropriation in the Budget year
Departmental expenses
Departmental Appropriations 1
Special Accounts
Expenses not requiring appropriation in the Budget year
2
2
1. Departmental Appropriation combines ‘Ordinary annual services’ (Appropriation Bills No.1 and 3) and
‘Revenue from ndependent Sources (s31)’.
2. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
Note: Departmental appropriation splits and totals are indicative estimates and may change in the course of
the budget year as Government priorities change.
29
Finance Additional Estimates Statements
Contributions to Outcome 2
Program 2.1: Government Business and ICT
Program Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 2.1: Government Business and ICT
2010-11
Actuals
$'000
Annual administered expenses:
Grants in Aid - Animals Australia
32
Grants in Aid - Australian Institute of
Policy and Science
32
Grants in Aid - Chifley Research Centre
199
Grants in Aid - Green Institute
50
Grants in Aid - Menzies Research Centre
199
Grants in Aid - Page Research Centre
100
Grants in Aid - Royal Humane Society
of Australia
23
Grants in Aid - RSPCA Australia Inc
32
Expenses not requiring appropriation in
2,927
the Budget year 1
Annual departmental expenses:
Government Business Enterprises
Ow nership and Divestment
19,561
Special Claims and Land Policy
3,789
Australian Government Information
Management Office
35,285
Procurement Framew ork
10,069
Expenses not requiring appropriation in
6,562
the Budget year 1
Special Account Expenses:
Coordinated Procurement Contracting
Special Account
64,151
Business Services Special Account
3
Total program expenses
143,014
2011-12
Revised
budget
$'000
2012-13
Forw ard
year 1
$'000
2013-14
Forw ard
year 2
$'000
2014-15
Forw ard
year 3
$'000
33
34
35
35
33
204
50
204
102
34
209
50
209
105
35
214
50
214
107
35
220
50
220
110
23
32
23
33
23
34
23
35
-
-
-
-
29,215
4,608
4,088
4,558
4,056
4,546
4,096
4,600
30,043
9,367
29,776
9,281
29,715
9,262
29,949
9,337
4,395
3,442
3,460
3,462
73,062
151,371
72,077
123,919
73,237
124,988
74,376
126,548
1. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
30
Finance Additional Estimates Statements
Program 2.1 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 2.1 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
31
Finance Additional Estimates Statements
Program 2.2: Property and Construction
Program Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 2.2: Property and Construction
2010-11
Actuals
$'000
Special Account Expenses:
Property Special Account
Total program expenses
61,625
61,625
2011-12 2012-13
Revised Forw ard
budget
year 1
$'000
$'000
86,130
86,130
63,356
63,356
2013-14 2014-15
Forw ard Forw ard
year 2
year 3
$'000
$'000
66,226
66,226
71,035
71,035
Program 2.2 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 2.2 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
32
Finance Additional Estimates Statements
Program 2.3: Insurance and Risk Management
Program Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 2.3: Insurance and Risk Management
2010-11
Actuals
$'000
Special Account Expenses:
Comcover Special Account
Total program expenses
232,463
232,463
2011-12 2012-13
Revised Forw ard
budget
year 1
$'000
$'000
135,894
135,894
141,012
141,012
2013-14 2014-15
Forw ard Forw ard
year 2
year 3
$'000
$'000
146,530
146,530
152,004
152,004
Program 2.3 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
Program 2.3 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
33
Finance Additional Estimates Statements
OUTCOME 3
Outcome 3 Strategy
No changes have been made to this outcome strategy since the 2011-12 PB Statements.
Table 2.1.3 Budgeted Expenses for Outcome 3
Outcom e 3: Support for Parliam entarians, others w ith
entitlem ents and organisations as approved by
Governm ent through the delivery of entitlem ents and
targeted assistance.
2010-11
Actual
expenses
$'000
Program 3.1: Ministerial and Parliam entary Services
Administered expenses
Ordinary annual services (Appropriation Bills No. 1 & 3)
Electorate and Ministerial Support Costs
Political Exchange Program
Special Appropriations
Commonwealth of Australia Constitution Act 1901 (s.66)
Members of Parliament (Life Gold Pass) Act 2002
Parliamentary Entitlements Act 1990
Expenses not requiring appropriation in the Budget year 2
Departmental expenses
Departmental Appropriations 1
Services to Senators, Members and their Staff
Car-w ith-driver and Associated Transport Services 3
Expenses not requiring appropriation in the Budget year 2
2011-12
Revised
estimated
expenses
$'000
216,757
391
232,802
833
3,340
1,339
139,900
25,291
3,474
3,095
153,087
8,754
51,420
2,080
848
41,142
2,243
1,787
441,366
447,217
217,148
144,579
25,291
233,635
159,656
8,754
53,500
848
43,385
1,787
Total expenses for Outcom e 3
441,366
447,217
Average Staffing Level (num ber)
2010-11
297
2011-12
290
Total for Program 3.1
Outcom e 3 Totals by appropriation type
Administered expenses
Ordinary annual services (Appropriation Bills No. 1 & 3)
Special Appropriations
Expenses not requiring appropriation in the Budget year
Departmental expenses
Departmental Appropriations 1
Expenses not requiring appropriation in the Budget year
2
1. Departmental Appropriation combines ‘Ordinary annual services’ (Appropriation Bills No.1 and 3) and
‘Revenue from independent Sources (s31)’.
2. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
3. Known in the 2011-12 PB Statements as “VIP hire car services”.
Note: Departmental appropriation splits and totals are indicative estimates and may change in the course of
the budget year as Government priorities change.
34
Finance Additional Estimates Statements
Contributions to Outcome 3
Program 3.1: Ministerial and Parliamentary Services
Program Objective

No changes have been made to the Program Objective since the
2011-12 PB Statements.
Program 3.1: Ministerial and Parliamentary Services
2010-11
Actuals
$'000
Annual administered expenses:
Electorate and Ministerial Support Costs
Political Exchange Program
Special Appropriations:
Commonwealth of Australia Constitution
Act 1901 (s.66)
Members of Parliament (Life Gold Pass)
Act 2002
Parliamentary Entitlements Act 1990
Expenses not requiring appropriation in
the Budget year 1
Annual departmental expenses:
Services to Senators, Members and
their Staff
Car-w ith-driver and Associated Transport
Services 2
Expenses not requiring appropriation in
the Budget year 1
Total program expenses
2011-12
Revised
budget
$'000
2012-13
Forw ard
year 1
$'000
2013-14
Forw ard
year 2
$'000
2014-15
Forw ard
year 3
$'000
216,757
391
232,802
833
235,679
848
239,939
862
240,960
879
3,340
3,474
3,474
3,474
3,474
1,339
139,900
3,095
153,087
3,169
156,682
3,230
163,062
3,290
161,246
25,291
8,754
5,757
5,613
5,617
51,420
41,142
40,772
40,667
41,067
2,080
2,243
2,220
2,215
2,234
848
441,366
1,787
447,217
1,829
450,430
1,848
460,910
1,851
460,618
1. Expenses not requiring appropriation in the Budget Year is made up of Depreciation Expense,
Amortisation Expense and Resources Received Free of Charge.
2. Known in the 2011-12 PB Statements as “VIP hire car services”.
Program 3.1 Deliverables

No changes have been made to the Program Deliverables since the
2011-12 PB Statements.
35
Finance Additional Estimates Statements
Program 3.1 Key Performance Indicators

No changes have been made to the Program Key Performance Indicators since
the 2011-12 PB Statements.
36
Section 3: Explanatory Tables and Budgeted Financial
Statements
3.1
EXPLANATORY TABLES
Estimates of Special Account Flows
Special accounts provide a means to set aside and record amounts used for specified
purposes. Table 3.1.1 shows the expected additions (receipts) and reductions
(payments) for each account used by Finance. The corresponding table in the
2011-12 PB Statements is Table 3.1.2.
37
Finance Additional Estimates Statements
Table 3.1.1: Estimates of Special Account Flows
Outco me
Building Australia Fund
- s21 FMA Act (A )
1
1
Education Investment Fund
- s21 FMA Act (A )
Opening
Closing
balance
Receipts Payments Adjustments balance
2011-12
2011-12
2011-12
2011-12 2011-12
2010-11
2010-11
2010-11
2010-11 2010-11
$'000
$'000
$'000
$'000
$'000
32 3,463,843 3,463,875
- 23,076,383 23,076,351
32
1
26 1,165,219 1,165,245
- 11,499,654 11,499,628
-
26
1
25
-
1,696,040
9,070,814
1,696,065
9,070,789
-
25
N/A
258
456
629
827
-
258
258
Business Services Special
Account - s20 FMA Act (D)
2
928
904
24
-
-
928
928
Comcover Special Account
- s20 FMA Act (D)
2
240,186
315,176
116,988
100,899
135,936
175,889
- 221,238
- 240,186
2
243,583
258,639
299,991
269,461
401,801
284,517
- 141,773
- 243,583
2
32,936
44,492
73,770
50,833
75,149
62,389
Total Special Accounts
2011-12 Budget estim ate
517,974
6,815,851
6,938,071
- 395,754
Total Special Accounts
2010 -11 estimate actual
619,667 44,068,697 44,170,390
- 517,974
Health and Hospitals Fund
- s21 FMA Act (A )
1
1
Other Trust Monies 2
- s20 FMA Act (A )
3
Property Special Account
- s20 FMA Act (D)
Coordinated Procurement
Contracting Special Account
- s20 FMA Act (D)
-
31,557
32,936
(A) = Administered
(D) = Departmental
1. The Nation Building Funds special accounts form part of the Nation Building Funds. Their balances are
estimated at zero. More information on the Nation Building Funds is set out in the tables on the following
pages. The 2010-11 figures for the Nation Building Finds relates to turnover of investments held relating
to the Funds. 2011-12 figures do not include this turnover as this is not possible to estimate.
2. Represents monies held in trust for other persons and is therefore not included in Finance’s price of
outputs. Budget and forward estimates are not included as future transactions cannot be anticipated.
3. Interest Equivalency Payment for Comcover increases from $11.9m (2010-11) to $15.0m (2011-12) as a
result of rising interest rates.
The Lands Acquisition Account (Lands Acquisition Act 1989) [Special Public Money] has not been included
in the table above as it is not currently active.
38
Finance Additional Estimates Statements
Table 3.1.1.1: Estimates of Fund Balances
Building Australia Fund
Outcome
1
1
Opening balance
Actual
Revised
Forward
Forward
Forward
2010-11
budget
2011-12
estimate
2012-13
estimate
2013-14
estimate
2014-15
$'000
$'000
$'000
$'000
$'000
9,755,513
8,192,825
5,425,860
4,187,130
3,434,693
501,799
352,360
254,468
201,003
169,843
2,515
-
-
-
-
(10,469)
(7,893)
(5,601)
(4,440)
(3,769)
(826,100)
(2,225,700)
(1,290,400)
(949,000)
(564,500)
Revenues and gains:
Investment Earnings and Gains
Other
Expenses:
Management fees
Transfers to Portfolio Special
Accounts for project payments: 2
BAF Infrastructure Portfolio
Special Account
BAF Communications
Portfolio Special Account
Closing balance
3
(1,230,433)
(885,732)
(197,197)
-
-
8,192,825
5,425,860
4,187,130
3,434,693
3,036,267
1. The Building Australia Fund (BAF) consists of the BAF Special Account and investments of the BAF.
The investments are managed by the Future Fund Board of Guardians. The Special Account is used to
record all transactions relating to the BAF, including interest received and payments.
2. The transfers relate to projects approved at the time of the Portfolio Additional Estimates. Amounts to be
paid to the States and Territories may be transferred, through the relevant BAF Portfolio Special
Account, to the COAG Reform Fund Special Account. Amounts also include payments classified as
equity transfers in the budgeted financial statements.
3. Transfers to the BAF Communications Portfolio Special Account relate to eligible National Broadband
Network matters.
39
Finance Additional Estimates Statements
Table 3.1.1.2: Estimates of Fund Balances
Actual
Revised
Forward
Forward
Forward
2010-11
budget
2011-12
estimate
2012-13
estimate
2013-14
estimate
2014-15
$'000
$'000
$'000
$'000
$'000
5,511,567
4,899,380
4,200,375
3,719,533
3,601,182
301,124
236,389
207,531
190,679
187,803
(6,779)
(5,840)
(5,042)
(4,658)
(4,599)
EIF Education Portfolio
Special Account
(405,001)
(429,423)
(231,674)
(161,615)
(155,736)
EIF Research Portfolio
Special Account
(501,532)
(500,131)
(451,657)
(142,757)
-
4,899,380 4,200,375
3,719,533
3,601,182
3,628,651
Education Investment
Fund
Outcome
1
1
Opening Balance
Revenues and Gains:
Investment Earnings and Gains
Expenses:
Management fees
Transfers to Portfolio Special
Accounts for project payments: 2
Closing Balance
1. The Education Investment Fund (EIF) consists of the EIF Special Account and investments of the EIF.
The investments are managed by the Future Fund Board of Guardians. The Special Account is used to
record all transactions relating to the EIF, including interest received and payments.
2. The transfers relate to projects approved at the time of the Portfolio Additional Estimates. Amounts to be
paid to the States and Territories may be transferred, through the EIF Education Portfolio Special
Account, to the COAG Reform Fund Special Account.
40
Finance Additional Estimates Statements
Table 3.1.1.3: Estimates of Fund Balances
Actual
Outcome
Health and Hospitals
Fund
Revised
Forward
Forward
Forward
budget
estimate
estimate
estimate
2010-11
$'000
2011-12
$'000
2012-13
$'000
2013-14
$'000
2014-15
$'000
4,731,494
4,345,659
3,036,444
2,501,391
2,055,798
262,254
45,800
195,527
-
146,551
-
120,011
-
98,386
-
(5,850)
(4,735)
(3,543)
(2,903)
(2,379)
(688,039)
(1,500,007)
(678,060)
(562,701)
(473,179)
2,501,391 2,055,798
1,678,627
1
1
Opening Balance
Revenues and Gains:
Investment Earnings and Gains
Other
Expenses:
Management fees
Transfers to Portfolio Special
Accounts for project payments: 2
HHF Health Portfolio
Special Account
Closing Balance
4,345,659 3,036,444
1. The Health and Hospitals Fund (HHF) consists of the HHF Special Account and investments of the HHF.
The investments are managed by the Future Fund Board of Guardians. The Special Account is used to
record all transactions relating to the HHF, including interest received and payments.
2. The transfers relate to projects approved at the time of the Portfolio Additional Estimates. Amounts to be
paid to the States and Territories may be transferred, through the HHF Health Portfolio Special Account,
to the COAG Reform Fund Special Account.
41
Finance Additional Estimates Statements
3.2
BUDGETED FINANCIAL STATEMENTS
3.2.1
Analysis of Budgeted Financial Statements
Budgeted Departmental Income Statement
Finance is projecting for a $6.6 million deficit for 2011-12, a small improvement from
the $7.1 million projected at budget. This is due to minor reviews of expenditure
profiles associated with the Superannuation Administration Reform Project,
Moorebank Intermodal Terminal Project, and the Central Budget Management System
Redevelopment project. Appropriation revenue has decreased by $0.4 million since
budget due primarily to the transfer of the Electorate Office IT function to the
Department of Parliamentary Services.
Budget Departmental Balance Sheet
The budgeted equity position for 2011-12 of $1,799.0 million is $106.5 million lower
than the $1,905.5 million projected at budget. This is primarily due to a reduction in
the expected value of the department’s property values.
Schedule of Administered Activity
Schedule of Budgeted Income and Expenses Administered on Behalf of
Government
Estimated administered income for 2011-12 has increased slightly to $2,269.4 million
from the $2,251.7 million projected at budget. This is primarily due to revisions in
earnings on the Nation Building Funds.
Estimated administered expenses for 2011-12 have increased to $11,126.9 million from
the $10,528.1 million reported at budget. This increase is primarily due to adjustments
to Nation Building Fund payments at MYEFO, as well as revisions to superannuation
estimates.
Schedule of Budget Assets and Liabilities Administered on Behalf of
Government
Administered assets are estimated to total $17,394.5 million by 30 June 2012, down
from the $17,864.2 million reported at budget. This decrease is primarily due to
adjustments to the Nation Building Fund payments at MYEFO.
Administered liabilities are estimated to total $87,443.8 million by 30 June 2012, down
from the $88,105.3 million reported at budget. This decrease is due mainly to a
revision of superannuation estimates.
42
Finance Additional Estimates Statements
Table 3.2.1: Budgeted Departmental Comprehensive Income Statement (Showing
Net Cost of Services) (for the period ended 30 June)
Actual
2010-11
$'000
EXPENSES
Employees
Suppliers
Depreciation and amortisation
Net losses from asset sales 2
Insurance claims
Other
Total expenses
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
169,989
188,136
19,133
1,359
190,887
18,110
587,614
184,422
210,147
16,120
7,817
91,398
17,961
527,865
177,616
175,864
20,017
95,029
21,172
489,698
174,844
169,042
22,745
577
98,804
25,185
491,197
177,516
170,247
23,247
451
102,767
30,202
504,430
LESS:
OWN-SOURCE INCOME
Revenue
Goods and services
Rents
Insurance premiums
Reinsurance and other recoveries
Total revenue
99,565
84,211
86,411
58,414
328,601
96,457
92,029
101,734
290,220
107,199
111,113
121,380
339,692
111,148
113,777
144,820
369,745
110,297
115,742
172,787
398,826
Gains
Gains on valuation of investment
property
Net gains from disposal 2
Other 3
Total gains
Total ow n-source incom e
1,593
1,412
3,005
331,606
12,597
1,376
13,973
304,193
10,941
1,713
1,376
14,030
353,722
12,106
1,376
13,482
383,227
12,147
1,376
13,523
412,349
Net cost of (contribution by)
services
256,008
223,672
135,976
107,970
92,081
Appropriation revenue
239,800
227,379
209,048
193,223
190,519
Surplus (Deficit) before incom e tax
(16,208)
3,707
73,072
85,253
98,438
1
Income tax expense
13,463
10,269
10,269
10,269
10,269
Surplus (Deficit) attributable to
the Australian Governm ent
(29,671)
(6,562)
62,803
74,984
88,169
Total com prehensive incom e
attributable to the Australian
Governm ent
(29,671)
(6,562)
62,803
74,984
88,169
43
Finance Additional Estimates Statements
Table 3.2.1: Budgeted Departmental Comprehensive Income Statement (Showing
Net Cost of Services) (for the period ended 30 June) (continued)
Note: Reconciliation of com prehensive incom e attributable to the agency
Actual Revised Forw ard Forw ard
budget estimate estimate
2010-11 2011-12 2012-13 2013-14
$'000
$'000
$'000
$'000
Total com prehensive incom e (loss)
attributable to the Australian
Governm ent
plus non-appropriated expenses
depreciation and amortisation expenses
Total com prehensive incom e (loss)
attributable to the Agency
Forw ard
estimate
2014-15
$'000
(29,671)
(6,562)
62,803
74,984
88,169
14,602
11,823
15,569
18,137
18,469
5,261
78,372
93,121
106,638
1
(15,069)
Prepared on Australian Accounting Standards basis.
1. Depreciation and amortisation expenses highlighted under “Expenses” represents total depreciation and
amortisation expenses for Finance. The “non-appropriated” depreciation and amortisation figure at the
bottom of this table is net of depreciation expenses associated with Finance’s property portfolio and
wholly contained within the Property Special Account.
2. Represents the net gain/loss from the Australian Government’s non-Defence property divestment
program within Australia.
3. Other gains represent resources received free of charge for financial statement audit services from the
Australian National Audit Office (ANAO).
44
Finance Additional Estimates Statements
Table 3.2.2: Budgeted Departmental Balance Sheet (as at 30 June)
Actual
ASSETS
Financial assets
Cash and cash equivalents
Receivables 2
Accrued Revenue
Total financial assets
1
Non-financial assets
Land and buildings 3
Infrastructure, plant and equipment
Investment properties 3
Intangibles
Other non-financial assets 4
Total non-financial assets
Total assets
LIABILITIES
Payables
Suppliers
Return of equity
Outstanding insurance claims
Unearned revenue
Other
Total payables
Interest bearing liabilities
Leases
Total interest bearing liabilities
Provisions
Employees
Other
Total provisions
Total liabilities
Net assets
2010-11
$'000
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
1,631
809,048
8,774
819,453
5,000
648,851
8,774
662,625
5,000
633,736
8,774
647,510
5,000
711,221
8,774
724,995
5,000
752,417
8,774
766,191
371,126
397,980
783,966
808,586
844,902
6,486
47,717
30,384
41,097
50,743
920,961
703,192
717,302
726,492
735,723
29,767
54,987
114,711
110,143
104,648
2,466
470,405
164,318
25,774
38,347
1,330,806 1,674,281 1,810,681 1,712,092 1,774,363
2,150,259 2,336,906 2,458,191 2,437,087 2,540,554
19,231
49,642
298,616
78,054
4,149
449,692
22,615
77,514
298,616
78,054
4,829
481,628
29,163
38,758
298,616
78,054
5,596
450,187
35,711
72,750
298,616
78,054
6,363
491,494
42,259
74,055
298,616
78,054
7,130
500,114
16
16
16
16
16
16
16
16
16
16
47,477
6,419
53,896
49,795
6,419
56,214
52,227
6,419
58,646
54,659
6,419
61,078
57,091
6,419
63,510
503,604
537,858
508,849
552,588
563,640
1,646,655 1,799,048 1,949,342 1,884,499 1,976,914
45
Finance Additional Estimates Statements
Table 3.2.2: Budgeted Departmental Balance Sheet (as at 30 June) (continued)
Actual
2010-11
$'000
EQUITY 5
Parent entity interest
Contributed equity
Asset revaluations reserve
Retained earnings
Total equity
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
1,293,503 1,418,178 1,440,180 1,254,285 1,208,251
176,616
191,733
236,238
265,727
295,216
176,536
189,137
272,924
364,487
473,447
1,646,655 1,799,048 1,949,342 1,884,499 1,976,914
Prepared on Australian Accounting Standards basis.
1. The departmental cash balance is maintained at $5m. Cash in excess of this balance is returned to the
Official Public Account, recorded as a receivable, and drawn down as required.
2. Primarily represents appropriations receivable (including capital appropriation) and the Special Accounts.
3. Represents properties in the Australian Government’s non-Defence property portfolio. For 2010-11,
work in progress (WIP) amounts are included in these balances.
4. From 2011-12 onwards, primarily represents WIP for capital projects such as property construction and
software development. Upon completion, assets will be transferred from WIP and capitalised. The
reduction from 2012-13 onwards is due primarily to the expected completion of the construction of the
Commonwealth New Building Project and Villawood Immigration Detention Centre.
5. ‘Equity’ is the residual interest in assets after deduction of liabilities.
46
Finance Additional Estimates Statements
Table 3.2.3: Departmental Statement of Changes in Equity — Summary of
Movement (Budget Year 2011-12)
Retained
earnings
$'000
Opening balance as at 1 July 2011
Balance carried forw ard from
previous period
Estim ated closing balance
as at 30 June 2012
$'000
176,616
176,616
1,293,503
1,293,503
1,682,962
1,682,962
-
15,117
15,117
-
15,117
15,117
Surplus (deficit) for the period
Transactions w ith ow ners
Distributions to owners
Returns
Contributions by owners
Appropriation (equity injection) 2
Appropriation (departmental
capital budget)
Assets transferred in/(out) 3
Sub-total transactions with owners
Total
equity
212,843
212,843
Com prehensive incom e
Comprehensive income recognised
directly in equity:
Gain/loss on revaluation of
property 1
Sub-total comprehensive income
Total comprehensive income
recognised directly in equity
Asset Contributed
revaluation
equity
reserve
$'000
$'000
(6,562)
206,281
(6,562)
191,733
(17,144)
(17,144)
189,137
191,733
1,293,503
(92,857)
(110,001)
208,000
208,000
16,631
(7,099)
124,675
16,631
(7,099)
107,531
1,418,178
Prepared on Australian Accounting Standards basis.
1. Represents the revaluation of land and buildings.
2. Equity injections for construction and IT projects.
3. Represents transfer of assets from/to other Australian Government agencies.
47
1,691,517
1,799,048
Finance Additional Estimates Statements
Table 3.2.4: Budgeted Departmental Statement of Cash Flows (as at 30 June)
Actual
2010-11
$'000
OPERATING ACTIVITIES
Cash received
Goods and services
Appropriations
Insurance premiums
Reinsurance and other recoveries
Cash transfer from OPA
Rent received
Total cash received
Cash used
Employees
Suppliers
Insurance claims
Cash transfer to OPA
Other
Total cash used
Net cash from or (used by)
operating activities
INVESTING ACTIVITIES
Cash received
Proceeds from sales of assets
Repayments of loans
Total cash received
Cash used
Purchase of assets
Total cash used
Net cash from or (used by)
investing activities
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
80,938
233,427
86,411
1,135
118,913
92,024
612,848
96,729
227,732
101,734
339,809
92,029
858,033
107,471
209,048
121,380
111,560
111,113
660,572
111,420
193,223
144,820
55,087
113,777
618,327
110,569
190,519
172,787
40,723
115,742
630,340
163,023
241,791
136,033
540,847
182,104
206,763
91,398
191,285
28,230
699,780
175,184
169,316
95,029
59,798
31,441
530,768
172,412
162,494
98,804
117,733
35,454
586,897
175,084
163,699
102,767
62,868
40,471
544,889
72,001
158,253
129,804
31,430
85,451
59
2
61
13,680
13,680
1,000
1,000
570
570
-
168,719
168,719
339,809
339,809
111,560
111,560
55,087
55,087
40,723
40,723
(168,658)
(326,129)
(110,560)
(54,517)
(40,723)
48
Finance Additional Estimates Statements
Table 3.2.4: Budgeted Departmental Statement of Cash Flows (as at 30 June)
(continued)
Actual
2010-11
$'000
FINANCING ACTIVITIES
Cash received
Appropriations - contributed equity
Total cash received
Cash used
Capital repayments
Total cash used
Net cash from or (used by)
financing activities
Net increase (decrease)
in cash held
Cash at the beginning of the
reporting period
Cash at the
end of the reporting period
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
153,593
153,593
224,631
224,631
73,613
73,613
46,698
46,698
12,875
12,875
58,626
58,626
53,386
53,386
92,857
92,857
23,611
23,611
57,603
57,603
94,967
171,245
(19,244)
23,087
(44,728)
(1,690)
3,369
-
-
-
3,321
1,631
5,000
5,000
5,000
1,631
5,000
5,000
5,000
5,000
Prepared on Australian Accounting Standards basis.
49
Finance Additional Estimates Statements
Table 3.2.5: Capital Budget Statement — Departmental
Actual
2010-11
$'000
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
CAPITAL APPROPRIATIONS
Equity injections - Bill 2
Departmental capital budget - Bill 1
Total Capital Appropriations
161,796
14,913
176,709
208,000
16,631
224,631
65,306
8,307
73,613
35,702
10,996
46,698
1,585
11,290
12,875
Total New Capital Appropriations
Represented by:
Purchase of non-financial assets
Total item s
176,709
176,709
224,631
224,631
73,613
73,613
46,698
46,698
12,875
12,875
155,681
306,813
92,274
33,522
19,983
8,309
16,631
8,307
10,996
11,290
4,729
168,719
16,366
339,810
10,979
111,560
10,570
55,088
9,450
40,723
119,067
417,647
193,632
28,150
PURCHASE OF NON-FINANCIAL
ASSETS
Funded by capital appropriations
Funded by departmental capital
budget - Bill 1
Funded internally from
departmental resources 1
TOTAL
RECONCILIATION OF CASH
TO ASSET MOVEMENT TABLE
Total asset acquisitions
17,784
less acquisitions through capitalisation
of w ork in progress
(13,290)
plus additional w ork in progress
164,225
Total Cash Used to
Acquire Assets
168,719
Prepared on Australian Accounting Standards basis.
1. Includes the following sources of funding:
a. Annual and prior year appropriations
b. Internally developed assets
c. Funds held in Special Accounts
d. Section 31 relevant agency receipts.
50
(86,070) (398,360) (172,066)
306,813
92,273
33,522
(7,410)
19,983
339,810
40,723
111,560
55,088
Asset Category
As at 1 July 2011
Gross book value
Accumulated depreciation/amortisation
Opening net book balance
1
Land
Buildings
$'000
$'000
Other
infrastructure,
plant and
equipment
$'000
203,000
(2,730)
200,270
8,789
(2,303)
6,486
157,194
157,194
Investment
property
Intangibles
Total
$'000
$'000
$'000
90,975
(44,200)
46,775
1,147,384
(49,233)
1,098,151
687,426
687,426
51
CAP ITAL ASSET ADDITIONS
Estimated expenditure on
new or replacement assets
By purchase - appropriation equity
49,000
-
-
-
-
49,000
By purchase - departmental capital budget
- Bill 1
By purchase - internally funded
Capitalisation of work in progress
Total additions
49,000
9,096
9,096
2,975
12,342
27,975
43,292
-
13,656
4,023
17,679
16,631
16,365
37,071
119,067
Other movements
Assets transferred in/(out)
Depreciation/amortisation expense
Disposals
Other
-
(7,099)
(4,592)
(21,006)
15,117
(2,061)
-
15,766
(9,467)
-
(7,099)
(16,120)
(21,006)
30,883
206,194
206,194
199,108
(7,322)
191,786
52,081
(4,364)
47,717
703,192
703,192
108,654
(53,667)
54,987
1,269,229
(65,353)
1,203,876
2
3
As at 30 June 2012
Gross book value
Accumulated depreciation/amortisation
Closing net book balance
Prepared on Australian Accounting Standards basis.
1. Opening Balance is net of work in progress.
2. Proceeds may be returned to the Official Public Account.
3. This figure reflects gains from revaluations and disposals (excluding sale and other costs).
Finance Additional Estimates Statements
Table 3.2.6: Statement of Departmental Asset Movements (2011-12)
Finance Additional Estimates Statements
Table 3.2.7: Schedule of Budgeted Income and Expenses Administered on behalf
of Government (for the period ended 30 June)
Actual
Revised
budget
2011-12
$'000
2010-11
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
INCOME ADMINISTERED ON
BEHALF OF GOVERNMENT
Revenue
Non-taxation
Goods and services
Interest and dividends 1
Superannuation contributions
Other
Total non-taxation
Total revenues
adm inistered on behalf
of Governm ent
2
4,746
1,291,303
1,344,325
10,550
2,650,924
4,688
953,143
1,281,802
7,353
2,246,986
4,688
845,396
1,230,580
7,353
2,088,017
4,688
753,223
1,181,988
7,353
1,947,252
4,688
674,440
1,181,786
7,353
1,868,267
2,650,924
2,246,986
2,088,017
1,947,252
1,868,267
1,838,313
22,448
3,886
3,886
3,886
1,838,313
22,448
3,886
3,886
3,886
4,489,237
2,269,434
2,091,903
1,951,138
1,872,153
666
202,098
198,077
6,349,500
681
216,829
204,390
6,454,990
696
218,212
202,292
6,393,608
712
221,672
207,217
6,490,203
728
222,410
204,511
6,590,450
2,420,672
25,054
4,236,093
12,861
2,503,909
12,861
1,812,823
12,861
1,193,414
12,861
1,503,589
2,954
43
1,032
43
1,032
43
1,032
43
1,032
10,702,610
11,126,919
9,332,653
8,746,563
8,225,449
Gains
Other
Total gains adm inistered
on behalf of Governm ent
Total incom e adm inistered
on behalf of Governm ent
EXPENSES ADMINISTERED ON
BEHALF OF GOVERNMENT
Grants
Employees
Suppliers
Superannuation 3
Transfers to Portfolio
Special Accounts 4
Depreciation and amortisation
Write dow n and impairment
of assets
Other
Total expenses
adm inistered on behalf
of Governm ent
Prepared on Australian Accounting Standards basis.
1. Estimates of interest include interest earnings for the three Nation Building Funds. A majority of Nation
Building Fund earnings are classified as gains in 2010-11. For more detail on the earnings for each fund
refer to Tables 3.1.2.1, 3.1.2.2 and 3.1.2.3. Dividend revenue represents revenue from CAC Act entities
which are treated as administered assets of the department.
2. Principally CSS and PSS employer contributions.
3. Represents expenses on the Australian Government’s unfunded civilian superannuation liabilities, which
are based on the Long Term Cost Report.
4. Transfers to Portfolio Special Accounts represents estimates of expenses to be transferred from the
Nation Building Funds to other agencies’ Special Accounts for projects. This summary includes expenses,
but not equity payments.
52
Finance Additional Estimates Statements
5.
Table 3.2.8: Schedule of Budgeted Assets and Liabilities Administered on behalf
of Government (as at 30 June)
A ctual
Revised
Fo rward
Fo rward
Fo rward
budget
estimate
estimate
estimate
2010-11
2011-12
2012-13
2013-14
2014-15
$ '000
$ '000
$ '000
$ '000
$ '000
A S S E T S A D M IN IS T E R E D O N
B E H A LF O F G O V E R N M E N T
F ina nc ia l a s s e t s
Cash and cash equivalents
1
Receivables
Taxatio n receivables
Investments
2
Other
1,524
-
-
-
-
186,686
181,758
176,660
171,412
165,865
1,519
1,376
1,376
1,376
1,376
22,268,338
17,072,237
14,793,476
13,453,644
12,664,815
58,296
58,296
58,296
58,296
2 2 ,5 2 0 ,10 8
62,041
17 ,3 13 ,6 6 7
15 ,0 2 9 ,8 0 8
13 ,6 8 4 ,7 2 8
12 ,8 9 0 ,3 5 2
Land and buildings
23,833
23,703
23,591
26,533
27,444
Infrastructure, plant and equipment
56,439
54,241
52,144
51,845
50,359
132
132
133
129
125
2,791
2,791
2,791
2,791
2,791
T o t a l f ina nc ia l a s s e t s
N o n- f ina nc ia l a s s e t s
Intangibles
Other
T o t a l no n- f ina nc ia l a s s e t s
8 3 ,19 5
8 0 ,8 6 7
7 8 ,6 5 9
8 1,2 9 8
8 0 ,7 19
2 2 ,6 0 3 ,3 0 3
17 ,3 9 4 ,5 3 4
15 ,10 8 ,4 6 7
13 ,7 6 6 ,0 2 6
12 ,9 7 1,0 7 1
T o t a l a s s e t s a dm inis t e re d
o n be ha lf o f G o v e rnm e nt
LIA B ILIT IE S A D M IN IS T E R E D
O N B E H A LF O F
GOVER N M EN T
Int e re s t be a ring lia bilit ie s
Leases
T o t a l int e re s t be a ring lia bilit ie s
1,339
1,339
1,339
1,339
1,339
1,3 3 9
1,3 3 9
1,3 3 9
1,3 3 9
1,3 3 9
P ro v is io ns
Emplo yees
3
Superannuatio n 4
Other
T o t a l pro v is io ns
171,652
171,651
171,650
171,650
171,650
94,885,610
87,242,108
89,819,559
92,339,955
94,814,355
16,749
15,824
14,802
13,678
12,554
9 0 ,0 0 6 ,0 11 9 2 ,5 2 5 ,2 8 3
9 4 ,9 9 8 ,5 5 9
9 5 ,0 7 4 ,0 11 8 7 ,4 2 9 ,5 8 3
P a ya ble s
Suppliers
Other
T o t a l P a ya ble s
379,220
8,892
8,892
8,892
29,084
4,016
4,011
4,011
8,892
4 0 8 ,3 0 4
12 ,9 0 8
12 ,9 0 3
12 ,9 0 3
12 ,9 0 3
9 5 ,4 8 3 ,6 5 4
8 7 ,4 4 3 ,8 3 0
9 0 ,0 2 0 ,2 5 3
9 2 ,5 3 9 ,5 2 5
9 5 ,0 12 ,8 0 1
4,011
T o t a l lia bilit ie s a dm inis t e re d
o n be ha lf o f G o v e rnm e nt
Prepared on Australian Accounting Standards basis.
1. The 2010-11 figure for cash and cash equivalents excludes cash held in the Official Public Account as this
is not included as part of our estimates.
2. Represents investments in the three Nation Building Funds. Also represented are investments in CAC Act
entities that are 100% owned by the Australian Government and assets of former superannuation
schemes administered by the Australian Government.
3. Represents Life Gold Pass Holders liabilities, severance traveller liabilities, employee provisions for staff
employed under the MOP(S) Act, and former Prime Ministers’ entitlements.
53
Finance Additional Estimates Statements
4. Represents the unfunded liabilities for the Australian Government’s civilian superannuation schemes. The
superannuation liabilities estimates are based on the Long Term Cost Report.
Table 3.2.9: Schedule of Budgeted Administered Cash Flows (for the period
ended 30 June)
Actual
2010-11
$'000
OPERATING ACTIVITIES
Cash received
Rendering of services
Interest and dividends 1
Superannuation
contributions 2
Other 3
Total cash received
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
2,397
571,893
4,689
779,053
4,689
621,101
4,687
523,538
4,688
467,158
1,344,325
1,388,206
3,306,821
1,286,189
1,318,735
3,388,666
1,230,578
1,352,546
3,208,914
1,181,986
1,364,972
3,075,183
1,181,785
1,365,861
3,019,492
202,403
215,781
217,161
220,620
221,355
1,812,823
712
5,327,431
204,810
7,566,396
1,193,414
728
5,474,565
202,109
7,092,171
Cash used
Employees 4
Transfers to Portfolio
Special Accounts 5
Grant payments
Superannuation 6
Suppliers
Total cash used
Net cash from (used by)
operating activities
2,420,672
3,487
4,987,451
201,359
7,815,372
4,236,093
681
4,969,311
202,125
9,623,991
2,503,909
696
5,161,256
203,768
8,086,790
(4,508,551)
(6,235,325)
(4,877,876)
INVESTING ACTIVITIES
Cash received
Proceeds from sales of
investments 7
Repayments of loans
Total cash received
42,535,970
25,206
42,561,176
5,554,461
14,927
5,569,388
2,863,173
14,736
2,877,909
1,828,073
14,195
1,842,268
1,204,162
11,728
1,215,890
4,639
6,092
6,160
9,208
7,166
3,523
38,971,010
4,441
760,644
4,493
608,549
6,292
511,696
5,117
456,031
1,230,433
40,209,605
1,304,900
2,076,077
345,079
964,281
3,250
530,446
468,314
2,351,571
3,493,311
1,913,628
Cash used
Purchase of land and buildings
Purchase of property, plant,
equipment and intangibles
Purchase of investments 7
Transfers to Portfolio Special
Accounts
Total cash used
Net cash from (used by)
investing activities
54
(4,491,213) (4,072,679)
1,311,822
747,576
Finance Additional Estimates Statements
Table 3.2.9: Schedule of Budgeted Administered Cash Flows (for the period
ended 30 June) (continued)
Actual
2010-11
$'000
FINANCING ACTIVITIES
Cash received
Cash from Official Public
Account
Other
Total cash received
Net cash from (used by)
financing activities
Net increase (decrease) in
cash held
Cash and cash equivalents at
beginning of reporting period 8
Cash from Official Public
Account for:
- Appropriations
Cash to Official Public
Account for:
- Appropriations
Cash and cash equivalents at
end of reporting period 8
Revised
budget
2011-12
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
1,330,625
1,330,625
1,310,391
4,183
1,314,574
1,344,283
4,066
1,348,349
1,356,732
8,793
1,365,525
1,357,623
5,706
1,363,329
1,330,625
1,314,574
1,348,349
1,365,525
1,363,329
(1,427,440)
(1,615,899)
(826,355)
(1,813,866) (1,961,774)
9,894
1,524
-
-
-
4,049,327
4,067,825
4,231,680
4,391,547
4,536,963
(3,231,342)
(2,641,909)
(2,615,781)
1,524
-
-
(2,577,681) (2,575,189)
-
Prepared on Australian Accounting Standards basis.
1. Estimates of interest include interest earnings for the three Nation Building Funds. For more detail on the
interest estimates for each fund refer to tables 3.1.2.1, 3.1.2.2 and 3.1.2.3.
2. Primarily represents the CSS and PSS employer contributions.
3. Primarily represents offsets from the CSS/PSS funds and return of overpaid benefits.
4. Represents expenditure with staff employed under the MOP(S) Act.
5. Transfers to Portfolio Special Accounts represent estimates of cash payments from the Nation Building
Funds to other agencies’ Special Accounts for projects.
6. Expenditure associated with unfunded liabilities for the Australian Government’s civilian superannuation
schemes.
7. The 2010-11 figure relates to turnover of investments held relating to the Nation Building Funds.
Estimates from 2011-12 onwards do not include an estimate of the turnover as this is not possible to
estimate.
8. The 2010-11 figures for cash at the beginning and end of the reporting period excludes cash held in the
Official Public Account as this is not included as part of our estimates.
55
-
Finance Additional Estimates Statements
Table 3.2.10: Schedule of Administered Capital Budget
Actual
Revised
budget
2011-12
$'000
2010-11
$'000
Forw ard
estimate
2012-13
$'000
Forw ard
estimate
2013-14
$'000
Forw ard
estimate
2014-15
$'000
CAPITAL APPROPRIATIONS
Administered assets
and liabilities - Bill 2
1
1,699
1,789
1,885
1,987
1,987
Special appropriations 2
Administered capital budget
1,328,597
1,310,265
1,344,283
1,349,680
1,357,624
- Bill 1 3
Total capital appropriations
5,450
1,335,746
3,320
1,315,374
3,203
1,349,371
7,930
1,359,597
4,843
1,364,454
Total new capital
appropriations
Represented by:
Purchase of non-financial assets
6,313
Other items
1,329,433
Total Item s
1,335,746
4,183
1,311,191
1,315,374
4,066
1,345,305
1,349,371
8,793
1,350,804
1,359,597
5,706
1,358,748
1,364,454
1,653
6,458
863
6,350
863
6,587
863
6,707
863
6,576
51
8,162
3,320
10,533
3,203
10,653
7,930
15,500
4,843
12,282
PURCHASE OF NON-FINANCIAL
ASSETS
Funded by capital appropriations
Funded by special appropriations
Funded by administered capital
budget
TOTAL
1. Administered Assets and Liabilities includes a capital injection for Acts of Grace liabilities and an injection
for capital works on ICON, which is offset through agency contributions that are returned to the budget.
2. Represents appropriation to pay unfunded component of superannuation benefits under the PSS and
CSS.
3. The Administered Capital Budget is used to fund the replacement of assets purchased through
Administered Bill 1 appropriations.
56
Finance Additional Estimates Statements
Table 3.2.11: Statement of Administered Asset Movements (2011-12)
Asset Category
Other
Buildings
infrastructure,
plant and
equipment
$'000
$'000
As at 1 July 2011
Gross book value
Accumulated depreciation/amortisation
Opening net book balance
41,996
(18,163)
23,833
CAPITAL ASSET ADDITIONS
Estim ated expenditure on
new or replacem ent assets
By purchase - Administered Assets and
Liabities - Bill 2
By purchase - Administered Capital Budget Bill 1
By purchase - special appropriations
Acquisition of entities or operations
(including restructuring) sub-total
Other m ovem ents
Depreciation/amortisation expense
As at 30 June 2012
Gross book value
Accumulated depreciation/amortisation
Closing net book balance
Prepared on Australian Accounting Standards basis.
57
61,522
(5,083)
56,439
Intangibles
Total
$'000
$'000
1,157
(1,025)
132
104,675
(24,271)
80,404
863
-
863
816
5,276
2,504
1,074
-
3,320
6,350
6,092
4,441
-
10,533
(6,222)
(6,639)
-
(12,861)
48,088
(24,385)
23,703
65,963
(11,722)
54,241
1,157
(1,025)
132
115,208
(37,132)
78,076
PORTFOLIO GLOSSARY
Term
Meaning
Accumulated
Depreciation
The aggregated depreciation recorded for a particular
depreciating asset.
Act of Grace
payments
The primary method of providing compensation to persons
who have been unfairly disadvantaged by the Commonwealth
but who have no legal claim against it.
Administered Items
Expenses, revenues, assets or liabilities managed by agencies
on behalf of the Commonwealth. Agencies do not control
administered items. Administered expenses include grants,
subsides and benefits. In many cases, administered expenses
fund the delivery of third party outputs.
Additional Estimates
Where amounts appropriated at Budget time are insufficient,
Parliament may appropriate more funds to portfolios through
the Additional Estimates Acts.
Additional Estimates
Bills or Acts
These are Appropriation Bills 3 and 4, and a separate Bill for
the Parliamentary Departments (Parliamentary Departments)
Bill (No 2). These Bills are introduced into Parliament after the
Budget Bills.
Annual
Appropriation
Two appropriation Bills are introduced into Parliament in May
and comprise the Budget. Further Bills are introduced later in
the financial year as part of the Additional Estimates.
Parliamentary departments have their own appropriations.
Appropriation
An authorisation by Parliament to spend monies from the
Consolidated Revenue Fund for a particular purpose.
CAC Act
Commonwealth Authorities and Companies Act 1997.
Capital Expenditure
Expenditure by an agency on capital projects, for example
purchasing a building.
Charter of Budget
Honesty Act
The Charter of Budget Honesty Act 1998 provides a legislative
framework for the conduct and reporting of fiscal policy.
59
Portfolio Glossary
Term
Meaning
Consolidated
Revenue Fund
Section 81 of the Constitution stipulates that all revenue raised
or money received by the Commonwealth forms the one
Consolidated Revenue Fund (CRF). The CRF is not a bank
account. The Official Public Account reflects most of the
operations of the CRF.
Departmental Items
Assets, liabilities, revenues and expenses that are controlled by
the agency in providing its outputs. Departmental items
would generally include computers, plant and equipment
assets used by agencies in providing goods and services and
most employee expenses, supplier costs and other
administrative expenses incurred.
Apportionment of an asset’s capital value as an expense over
its estimated useful life to take account of normal usage,
obsolescence, or the passage of time.
Residual interest in the assets of an entity after deduction of its
liabilities.
Total value of all of the resources consumed in producing
goods and services or the loss of future economic benefits in
the form of reductions in assets or increases in liabilities of an
entity.
Valuation methodology: The amount for which an asset could
be exchanged, or a liability settled, between knowledgeable
and willing parties in an arm’s length transaction. The fair
value can be affected by the conditions of the sale, market
conditions and the intentions of the asset holder.
Financial Management and Accountability Act 1997.
A new policy or savings decision of the Government with
financial impacts.
Depreciation
Equity or Net Assets
Expense
Fair Value
FMA Act
Measure
Outcomes
Portfolio
The Government's objectives in each portfolio area. Outcomes
are desired results, impacts or consequences for the Australian
community influenced by the actions of the Australian
Government. Actual outcomes are the results or impacts
actually achieved.
A Minister’s area of responsibility as a member of Cabinet. A
portfolio consists of one or more Departments of State (aka the
Portfolio Departments) and a number of agencies with similar
general objectives and outcomes.
60
Portfolio Glossary
Term
Meaning
Program
Agencies deliver programs which are the Government actions
taken to deliver the stated outcomes. Agencies are required to
identify the programs which contribute to Government
outcomes over the Budget and forward years.
As per section 5 of the FMA Act, a prescribed agency means: a
body, organisation or group of persons prescribed by the
Regulations for the purposes of this definition. Prescribed
agencies are made by the Governor-General by Regulation
under the FMA Act.
Total value of resources earned or received to cover the
production of goods and services or increases in future
economic benefits in the form of increases in assets or
reductions in liabilities of an entity.
Balances existing within the CRF that are supported by
standing appropriations (FMA Act section 20 and 21). Special
accounts allow money in the CRF to be acknowledged as setaside (hypothecated) for a particular purpose. Amounts
credited to a Special Account may only be spent for the
purposes of the Special Account. Special Accounts can only be
established by a written determination of the Finance Minister
(section 20 FMA Act) or through an Act of Parliament (referred
to in section 21 of the FMA Act).
Prescribed agencies
Revenue
Special Accounts
Special
Appropriations
(including Standing
Appropriations)
An amount of money appropriated by a particular Act of
Parliament for a specific purpose and number of years. For
special appropriations the authority to withdraw funds from
Consolidated Revenue Fund does not generally cease at the
end of the financial year.
Standing appropriations are a sub-category consisting of
ongoing special appropriations – the amount appropriated will
depend on circumstances specified in the legislation.
61
ACRONYMS
Acronym
Description
AAO
Administrative Arrangements Order
AO
Officer of the Order of Australia
AEC
Australian Electoral Commission
ANAO
Australian National Audit Office
APS
Australian Public Service
ARIA
Australian Reward Investment Alliance
ASIO
Australian Security Intelligence Organisation
BAF
Building Australia Fund
CAC Act
Commonwealth Authorities and Companies Act 1997
Charter of Budget Honesty
Charter of Budget Honesty Act 1998
CPI
Consumer Price Index
CSC
Commonwealth Superannuation Corporation
CSS
Commonwealth Superannuation Scheme
CSS Act
Superannuation Act 1976
DCB
Departmental Capital Budget
DFRDB
Defence Force Retirement and Death Benefits
EIF
Education Investment Fund
ERC
Expenditure Review Committee
FFMA
Future Fund Management Agency
Finance
Department of Finance and Deregulation
Finance Portfolio
Finance and Deregulation Portfolio
Finance Minister
Minister for Finance and Deregulation
FMA Act
Financial Management and Accountability Act 1997
62
Acronyms
Acronym
Description
GBEs
Government Business Enterprises
HHF
Health and Hospitals Fund
ICON
Intra-Government Communications Network
ICT
Information and Communications Technology
MoP(S) Act
Members of Parliament (Staff) Act 1984
MP
Member of Parliament
MSBS
Military Superannuation and Benefits Scheme
MYEFO
Mid-Year Economic Fiscal Outlook
OPA
Official Public Account
PAES
Portfolio Additional Estimates Statements
PB Statements
Portfolio Budget Statements
PCSS
Parliamentary Contributory Superannuation Scheme
PSM
Public Service Medal
PSS
Public Sector Superannuation Scheme
PSS Act
Superannuation Act 1990
PSSap
Public Sector Superannuation Accumulation Plan
SACL
Sydney Airports Corporation Limited
SPBC
Strategic Priorities and Budget Committee
SMOS
Special Minister of State
SPPs
Special Purpose Payments
WIP
Work-in-progress
63