11. Treasury Cluster
(a)
Expenses
Agency
2014-15
Revised
$m
2015-16
Budget
$m
Capital Expenditure
Var.
%
2014-15
Revised
$m
2015-16
Budget
$m
Var.
%
The Treasury
Service Group
State Resource Management ......................
Cluster Grant Funding (b) ..............................
106.4
685.6
124.6
N/A
17.1
N/A
16.7
...
46.8
...
179.6
...
Total
792.0
124.6
(84.3)
16.7
46.8
179.6
Service Group
Debt Liability Management ........................
Superannuation Liability Management
Central Financial Services ...........................
1,660.2
2,320.2
2,856.5
1,552.7
2,111.9
2,232.7
(6.5)
(9.0)
(21.8)
...
...
0.5
...
...
0.5
...
...
0.0
Total
6,836.9
5,897.3
(13.7)
0.5
0.5
0.0
2.2
(33.8)
...
...
...
0.0
0.0
100.0
...
...
...
148.8
161.3
8.4
0.6
3.3
410.0
32.6
5.5
...
...
...
Crown Finance Entity
Electricity Assets Ministerial Holding Corporation
Total
3.4
Liability Management Ministerial Corporation
Total
Long Service Corporation
Total
Ports Assets Ministerial Holding Corporation
Total
30.9
(a) From 1 July 2015, the Administrative Arrangements (Administrative Changes—Public Service Agencies)
Order (No. 2) 2015 changes the name of the Office of Finance and Services to the Department of Finance,
Services and Innovation. Service NSW, Building Insurers’ Guarantee Corporation, Government Property
NSW, Motor Accidents Authority of New South Wales, New South Wales Government Telecommunications
Authority, NSW Self Insurance Corporation, Rental Bond Board, State Records Authority of New South Wales,
WorkCover Authority, and the Workers’ Compensation (Dust Diseases) Board are transferred to the Finance,
Services and Innovation cluster.
(b) Cluster Grant Funding variances are impacted by the movement of agencies.
Budget Estimates 2015-16
11 - 1
Treasury Cluster
Introduction
As the Government’s principal financial and economic adviser, the Treasury cluster seeks to
build enduring prosperity for the people of New South Wales through: sound public and
intergovernmental finances that support effective service delivery; lifting performance of State
Owned Corporations (SOCs) through strong shareholder engagement; innovative financing
arrangements that can involve the private sector to the benefit of the State; and microeconomic
reforms and industrial relations policies that contribute to a strong and competitive economy.
The Treasury cluster is impacted by machinery of government changes set out in the
Administrative Arrangements (Administrative Changes—Public Service Agencies) Order (No. 2)
2015. The Order changes the name of the Office of Finance and Services to the Department of
Finance, Service and Innovation. Service NSW, Building Insurers’ Guarantee Corporation,
Government Property NSW, Motor Accidents Authority of New South Wales, New South Wales
Government Telecommunications Authority, NSW Self Insurance Corporation, Rental Bond
Board, State Records Authority of New South Wales, WorkCover Authority, and the Workers’
Compensation (Dust Diseases) Board are transferred to the Finance, Services and Innovation
cluster. These changes will take effect from 1 July 2015.
The Treasury cluster provides leadership in financial management across the public sector.
The cluster’s responsibilities include:

providing the economic and fiscal context for sound policy development and informed
decision making

managing the State’s Budget and balance sheet

advising on microeconomic reforms to support a strong competitive economy

the provision of fair and productive industrial relations and public sector wages policies

leading sector wide financial reforms and driving public sector financial accountability by
promoting a contemporary legislative and policy framework

advising on the allocation of public finances to deliver better services, including through
capital recycling and investment

assessing financial and economic risk and advising on the economic impact of policies

managing and reporting on sector-wide assets and liabilities

providing active shareholder advice to drive and monitor improved performance of SOCs

providing a whole-of-government advisory role on commercial financing through the
Infrastructure and Structured Finance Unit (IFSU)

managing portable long service schemes to the building, construction and contract cleaning
industries.
11 - 2
Budget Estimates 2015-16
Treasury Cluster
Services
The Treasury cluster’s key services include:

developing and implementing the State’s fiscal and revenue strategies

managing the State Budget process and reporting on the State’s finances

developing tax, competition and regulatory policies and reforms

monitoring agency financial management improvements and audit compliance

active performance monitoring of SOCs and other government businesses

providing strategic policy advice to the Government on public and private sector industrial
relations issues

monitoring agency savings targets and initiatives

contributing to intergovernmental negotiations in the State’s interests

setting the parameters for managing the Crown debt portfolio, to minimise cost and risk

delivering industrial relations information, assistance and education programs with a focus
on assisting vulnerable sections of the community and enabling employers to understand
and comply with their obligations

administering portable long service schemes.
2015-16 Budget Highlights
In 2015-16, the cluster’s key initiatives include:

contributing $1.4 billion to the State Super defined benefit scheme to meet member
expenses and reduce unfunded member liabilities

providing $214 million for first home owner grants and new home grants

paying $88 million in long service leave to workers in the building, construction and contract
cleaning industries

collecting $182 million in levies and investment returns to fund the building, construction
and contract cleaning industries portable long service leave schemes

$18.2 million to progress the Financial Management Transformation program focusing on a
new framework and financial information system as recommended by the Commission of
Audit.
Budget Estimates 2015-16
11 - 3
The Treasury
Service Group Statements
State Resource Management
Service description: This service group covers advice on economic and fiscal strategies (including
industrial relations policy), advice on efficiency and effectiveness of public sector
agencies, and infrastructure, asset management and procurement. It also includes
budget management services, public sector management systems, and financial
asset and liability management services.
Units
2012-13
Actual
2013-14
Actual
2014-15
Forecast
2014-15
Revised
2015-16
Forecast
%
100
100
100
100
100
%
%
100
61
100
42
100
100
100
100
100
100
FTE
481
463
530
515
541
Service measures:
State physical assets covered
by a Total Asset Management
Plan submission for
nominated agencies
Required government businesses
that have signed their:
Statement of Corporate
Intent
Statement of Business Intent (a)
Employees:
(b)
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
113,642
106,435
124,599
77,023
33,701
169
72,635
31,019
169
84,516
36,949
169
27,284
16,741
46,805
Financial indicators:
Total Expenses Excluding Losses
Total expenses include the following:
Employee related
Other operating expenses
Grants and subsidies
Capital Expenditure
(a) In 2013-14 Statements of Business Intent (SBIs) were required to be submitted for signing prior to half year.
For a number of government businesses, their SBIs could not be finalised due to a government strategic
review.
(b) The increase in FTEs from 2014-15 Revised to 2015-16 Forecast relates predominantly to backfilling
vacancies previously occupied by contractors.
11 - 4
Budget Estimates 2015-16
The Treasury
Cluster Grant Funding
Service description: This service group covers the provision of grant funding to agencies within the
former Treasury and Finance cluster. From 1 July 2015, these agencies will be
funded through the Department of Finance, Services and Innovation.
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Grants and subsidies
Office of Finance and Services
Government Property NSW
State Records Authority of New South Wales
Teacher Housing Authority
New South Wales Telecommunications Authority
Service NSW (a)
480,576
480,576
428,331
32,845
9,786
5,725
3,889
N/A
685,598
685,598
340,570
17,470
7,538
5,725
3,589
310,706
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
(a) Service NSW transferred from the Premier and Cabinet cluster from 1 July 2014 and will transfer to the
Finance, Services and Innovation cluster from 1 July 2015.
Budget Estimates 2015-16
11 - 5
The Treasury
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
Depreciation and amortisation
Grants and subsidies
Finance costs
Total Expenses Excluding Losses
77,023
33,701
72,635
31,019
84,516
36,949
2,716
2,528
2,875
480,745
685,767
169
33
84
90
594,218
792,033
124,599
Revenue
Recurrent appropriation
567,073
753,750
105,694
Capital appropriation
17,982
4,982
46,805
Sales of goods and services
14,155
14,920
17,022
300
660
...
Acceptance by Crown Entity of employee benefits and
other liabilities
2,745
2,585
1,552
Other revenue
1,101
1,060
...
603,356
777,957
171,073
(395)
(346)
...
...
(22)
...
8,743
(14,444)
46,474
Investment revenue
Total Revenue
Gain/(loss) on disposal of non current assets
Other gains/(losses)
Net Result
11 - 6
Budget Estimates 2015-16
The Treasury
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
22,899
4,596
5,113
Receivables
4,381
6,012
5,047
27,280
10,608
10,160
5,648
6,224
6,452
Property, plant and equipment Plant and equipment
17,689
20,617
18,554
Intangibles
19,133
5,796
51,789
Total Non Current Assets
42,470
32,637
76,795
Total Assets
69,750
43,245
86,955
Total Current Assets
Non Current Assets
Receivables
Liabilities
Current Liabilities
Payables
Provisions
Other
Total Current Liabilities
5,031
5,548
4,164
10,242
10,134
10,134
1,515
1,552
1,552
16,788
17,234
15,850
Non Current Liabilities
Provisions
26,339
8,682
8,854
...
13,126
11,574
Total Non Current Liabilities
26,339
21,808
20,428
Total Liabilities
43,127
39,042
36,278
26,623
4,203
50,677
26,623
4,203
50,677
26,623
4,203
50,677
Other
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2015-16
11 - 7
The Treasury
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Grants and subsidies
Other
Total Payments
72,736
69,265
84,176
480,745
685,767
169
35,746
39,289
42,043
589,227
794,321
126,388
Receipts
Recurrent appropriation
567,073
753,750
105,694
Capital appropriation
17,982
4,982
46,805
Sale of goods and services
15,084
14,177
16,794
Interest received
Other
Total Receipts
Net Cash Flows From Operating Activities
453
648
315
13,495
17,029
4,102
614,087
790,586
173,710
24,860
(3,735)
47,322
Cash Flows From Investing Activities
Proceeds from sale of property, plant and equipment
...
18
...
Purchases of property, plant and equipment
(10,688)
(13,299)
(454)
Other
(16,596)
(3,442)
(46,351)
(27,284)
(16,723)
(46,805)
(2,424)
(20,458)
517
Opening Cash and Cash Equivalents
25,323
25,054
4,596
Closing Cash and Cash Equivalents
22,899
4,596
5,113
Net result
8,743
(14,444)
46,474
Non cash items added back
2,716
2,550
2,875
Change in operating assets and liabilities
13,401
8,159
(2,027)
Net Cash Flows From Operating Activities
24,860
(3,735)
47,322
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
11 - 8
Budget Estimates 2015-16
Crown Finance Entity
Service Group Statements
Debt Liability Management
Service description: This service group covers the management of the Crown debt portfolio and the
Treasury Banking System, which are managed in conjunction with NSW Treasury
Corporation, to minimise the market value of debt within specified risk
constraints, minimising the cost of debt and maximising investment returns.
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Other expenses
Budget Estimates 2015-16
1,691,748
5,598
1,660,181
5,708
1,552,717
5,874
11 - 9
Crown Finance Entity
Superannuation Liability Management
Service description: This service group covers the management of unfunded superannuation liabilities
of NSW public sector defined benefit superannuation schemes in line with the
Government's long-term funding plan.
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Total expenses include the following:
Employee related
Grants and subsidies
11 - 10
1,982,613
2,320,221
2,111,879
1,964,900
17,713
2,302,508
17,713
2,093,134
18,745
Budget Estimates 2015-16
Crown Finance Entity
Central Financial Services
Service description: This service group covers the periodic payments made to meet agency long
service leave, the cost of redundancies, grants under the First Home Owners Grant
Scheme and GST administration costs payable to the Australian Taxation Office.
It also includes provision of funds to various departments and authorities
responding to natural disasters until 1 July 2015 when this function will transfer to
the Department of Justice.
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Total expenses include the following:
Employee related
Other operating expenses
Grants and subsidies
Other expenses
Capital Expenditure
Budget Estimates 2015-16
2,005,210
2,856,541
2,232,724
508,629
45,838
1,124,399
325,360
1,296,162
103,228
1,092,279
311,743
791,442
40,128
992,532
358,415
7,500
500
500
11 - 11
Crown Finance Entity
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
2,473,529
45,838
3,598,670
103,228
2,884,576
40,128
20
40
...
Grants and subsidies
1,142,112
1,109,992
1,011,277
Finance costs
1,687,114
1,707,562
1,597,050
330,958
317,451
364,289
5,679,571
6,836,943
5,897,320
5,391,810
5,501,754
5,046,074
887,182
1,408,731
2,509,870
Depreciation and amortisation
Other expenses
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Recurrent appropriation
Capital appropriation
Transfers to the Crown Entity
Sales of goods and services
Investment revenue
Grants and contributions
Other revenue
Total Revenue
Other gains/(losses)
Net Result
11 - 12
(4,461,038)
1,571,459 (4,324,940)
12,800
10,400
9,900
385,806
453,772
459,626
7,727
54,000
...
86,603
105,794
173,644
2,310,890
9,105,910
3,874,174
(20,840)
(476)
(14,357)
(3,389,521)
2,268,491
(2,037,503)
Budget Estimates 2015-16
Crown Finance Entity
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
Receivables
Other financial assets
Total Current Assets
8,035,862 13,064,368
7,455,558
16,878
33,564
34,156
224,754
2,628,804
4,495,360
8,277,494
15,726,736
11,985,074
Non Current Assets
Receivables
8,602
8,605
3,748
4,353,949
4,152,932
3,901,325
Property, plant and equipment Plant and equipment
Infrastructure systems
26
7,000
...
...
...
...
Intangibles
1,000
500
1,000
4,370,577
4,162,037
3,906,073
12,648,071
19,888,773
15,891,147
535,419
535,147
515,598
Borrowings at amortised cost
1,183,499
1,276,992
725,758
Provisions
6,909,053
8,157,594
8,249,237
118,433
219,964
120,639
8,746,404
10,189,697
9,611,232
Other financial assets
Total Non Current Assets
Total Assets
Liabilities
Current Liabilities
Payables
Other
Total Current Liabilities
Non Current Liabilities
Borrowings at amortised cost
26,143,132 26,308,165 27,139,407
Provisions
29,827,273 51,633,174 48,150,961
Other
81,461
99,141
65,822
Total Non Current Liabilities
56,051,866
78,040,480
75,356,190
Total Liabilities
64,798,270
88,230,177
84,967,422
Net Assets
(52,150,199) (68,341,404) (69,076,275)
Equity
Reserves
Accumulated funds
Total Equity
Budget Estimates 2015-16
2,324,371
1,934,812
1,934,812
(54,474,570) (70,276,216) (71,011,087)
(52,150,199) (68,341,404) (69,076,275)
11 - 13
Crown Finance Entity
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
2,183,910
2,111,021
2,231,002
Grants and subsidies
1,140,267
1,109,992
1,011,277
Finance costs
1,426,886
1,491,914
1,431,825
505,510
401,306
517,341
5,256,573
5,114,233
5,191,445
5,391,810
5,501,754
5,046,074
887,182
1,408,731
2,509,870
164
30,270
...
347,264
417,139
420,651
(2,500)
(2,356)
95,000
5,019
20
20
Other
Total Payments
Receipts
Recurrent appropriation
Capital appropriation
Sale of goods and services
Interest received
Retained taxes, fees and fines
Grants and contributions
Cash transfers to the Crown Entity
Other
Total Receipts
Net Cash Flows From Operating Activities
(4,461,038)
1,476,563 (4,324,940)
113,971
277,056
4,985
2,281,872
9,109,177
3,751,660
(2,974,701)
3,994,944
(1,439,785)
Cash Flows From Investing Activities
Proceeds from sale of investments
Advance repayments received
Purchases of property, plant and equipment
Purchases of investments
Advances made
Other
Net Cash Flows From Investing Activities
2,100
9,143,455
61
322,931
196,214
196,334
(7,000)
...
...
(19) (6,900,021) (1,550,020)
(167,372)
(96,326)
(248,052)
(500)
(500)
(500)
150,140
2,342,822
(1,602,177)
Cash Flows From Financing Activities
Proceeds from borrowings and advances
567,547
504,855
247,496
Repayment of borrowings and advances
(75,857)
(709,140)
(81,357)
Other
Net Cash Flows From Financing Activities
Net Increase/(Decrease) in Cash
(1,099,220) (1,092,850) (2,732,987)
(607,530) (1,297,135)
(2,566,848)
(3,432,091)
5,040,631
(5,608,810)
Opening Cash and Cash Equivalents
11,467,953
8,023,737
13,064,368
Closing Cash and Cash Equivalents
8,035,862
13,064,368
7,455,558
Cash Flow Reconciliation
Net result
(3,389,521)
2,268,491 (2,037,503)
Non cash items added back
228,679
121,022
100,597
Change in operating assets and liabilities
186,141
1,605,431
497,121
(2,974,701)
3,994,944
(1,439,785)
Net Cash Flows From Operating Activities
11 - 14
Budget Estimates 2015-16
Electricity Assets Ministerial Holding Corporation
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
Finance costs
TOTAL EXPENSES EXCLUDING LOSSES
782
1,235
293
1,722
2,138
1,939
2,504
3,373
2,232
2,925
2,311
4,459
...
2,243
225
2,925
4,554
4,684
421
1,181
2,452
Revenue
Investment revenue
Other revenue
Total Revenue
Net Result
Budget Estimates 2015-16
11 - 15
Electricity Assets Ministerial Holding Corporation
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
67,394
4,000
4,000
Receivables
...
170
168
67,394
4,170
4,168
Receivables
...
270
261
Other financial assets
...
70,665
71,454
Total Non Current Assets
...
70,935
71,715
67,394
75,105
75,883
3,720
3,519
3,182
3,720
3,519
3,182
39,877
39,235
37,898
Total Non Current Liabilities
39,877
39,235
37,898
Total Liabilities
43,597
42,754
41,080
23,797
32,351
34,803
23,797
32,351
34,803
23,797
32,351
34,803
Total Current Assets
Non Current Assets
Total Assets
Liabilities
Current Liabilities
Provisions
Total Current Liabilities
Non Current Liabilities
Provisions
Net Assets
Equity
Accumulated funds
Total Equity
11 - 16
Budget Estimates 2015-16
Electricity Assets Ministerial Holding Corporation
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
370
419
96
5,392
11,118
3,956
5,762
11,537
4,052
2,925
2,311
2,559
...
8,370
382
2,925
10,681
2,941
(2,837)
(856)
(1,111)
Proceeds from sale of investments
...
...
4,000
Purchases of investments
...
(70,665)
(2,889)
Other
...
200
...
...
(70,465)
1,111
(2,837)
(71,321)
...
Opening Cash and Cash Equivalents
70,231
75,321
4,000
Closing Cash and Cash Equivalents
67,394
4,000
4,000
421
1,181
2,452
...
...
(1,900)
Change in operating assets and liabilities
(3,258)
(2,037)
(1,663)
Net Cash Flows From Operating Activities
(2,837)
(856)
(1,111)
Other
Total Payments
Receipts
Interest received
Other
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
Non cash items added back
Budget Estimates 2015-16
11 - 17
Liability Management Ministerial Corporation
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
TOTAL EXPENSES EXCLUDING LOSSES
60
20
40
60
20
40
Revenue
Investment revenue
4,000
11,332
6,220
17,713
17,713
18,745
Total Revenue
21,713
29,045
24,965
Net Result
21,653
29,025
24,925
Grants and contributions
11 - 18
Budget Estimates 2015-16
Liability Management Ministerial Corporation
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
105
25
10
Receivables
6
1
4
111
26
14
Other financial assets
79,131
86,803
111,760
Total Non Current Assets
79,131
86,803
111,760
Total Assets
79,242
86,829
111,774
60
20
40
Total Current Liabilities
60
20
40
Total Liabilities
60
20
40
79,182
86,809
111,734
79,182
86,809
111,734
79,182
86,809
111,734
Total Current Assets
Non Current Assets
Liabilities
Current Liabilities
Payables
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2015-16
11 - 19
Liability Management Ministerial Corporation
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Other
Total Payments
61
12
24
61
12
24
Receipts
Interest received
2,491
9,815
3,335
17,713
17,713
18,745
5
1
1
20,209
27,529
22,081
20,148
27,517
22,057
(20,148)
(27,593)
(22,072)
(20,148)
(27,593)
(22,072)
...
(76)
(15)
Opening Cash and Cash Equivalents
105
101
25
Closing Cash and Cash Equivalents
105
25
10
Grants and contributions
Other
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Purchases of investments
Net Cash Flows From Investing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
21,653
29,025
24,925
Non cash items added back
(1,509)
(1,517)
(2,885)
4
9
17
20,148
27,517
22,057
Change in operating assets and liabilities
Net Cash Flows From Operating Activities
11 - 20
Budget Estimates 2015-16
Long Service Corporation
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
55
11,229
79
10,763
28
11,017
1,134
228
165
Grants and subsidies
80,716
81,041
88,263
Finance costs
57,900
56,700
61,837
151,034
148,811
161,310
Depreciation and amortisation
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Investment revenue
Retained taxes, fees and fines
Other revenue
Total Revenue
57,561
114,257
71,055
101,264
127,781
111,610
54
105
92
158,879
242,143
182,757
Gain/(loss) on disposal of non current assets
...
15
...
Other gains/(losses)
...
(13)
...
7,845
93,334
21,447
Net Result
Budget Estimates 2015-16
11 - 21
Long Service Corporation
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
40,601
51,602
45,743
Receivables
7,783
9,192
8,853
48,384
60,794
54,596
912,114
1,013,363
1,113,723
273
286
404
1,964
536
3,525
Total Non Current Assets
914,351
1,014,185
1,117,652
Total Assets
962,735
1,074,979
1,172,248
Total Current Assets
Non Current Assets
Other financial assets
Property, plant and equipment Plant and equipment
Intangibles
Liabilities
Current Liabilities
Payables
2,694
1,003
5,505
562,758
524,978
528,304
565,452
525,981
533,809
318,700
362,479
436,379
5,648
6,223
317
Total Non Current Liabilities
324,348
368,702
436,696
Total Liabilities
889,800
894,683
970,505
72,935
180,296
201,743
72,935
180,296
201,743
72,935
180,296
201,743
Provisions
Total Current Liabilities
Non Current Liabilities
Provisions
Other
Net Assets
Equity
Accumulated funds
Total Equity
11 - 22
Budget Estimates 2015-16
Long Service Corporation
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
55
79
28
Grants and subsidies
80,716
81,041
88,263
Other
16,268
(404)
(1,735)
97,039
80,716
86,556
Total Payments
Receipts
Sale of goods and services
Interest received
Retained taxes, fees and fines
Other
Total Receipts
Net Cash Flows From Operating Activities
...
13
...
1,286
55,919
2,043
101,988
126,878
111,916
843
900
1,236
104,117
183,710
115,195
7,078
102,994
28,639
7
18
7
Cash Flows From Investing Activities
Proceeds from sale of property, plant and equipment
Proceeds from sale of investments
3,000
...
...
(49)
(176)
(290)
(37,017)
(125,059)
(31,226)
(2,749)
(467)
(2,989)
Net Cash Flows From Investing Activities
(36,808)
(125,684)
(34,498)
Net Increase/(Decrease) in Cash
(29,730)
(22,690)
(5,859)
Opening Cash and Cash Equivalents
70,331
74,292
51,602
Closing Cash and Cash Equivalents
40,601
51,602
45,743
Purchases of property, plant and equipment
Purchases of investments
Other
Cash Flow Reconciliation
Net result
Non cash items added back
Change in operating assets and liabilities
Net Cash Flows From Operating Activities
Budget Estimates 2015-16
7,845
93,334
21,447
(54,210)
(57,987)
(68,969)
53,443
67,647
76,161
7,078
102,994
28,639
11 - 23
Ports Assets Ministerial Holding Corporation
Financial Statements
Operating Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
31,421
30,900
32,592
31,421
30,900
32,592
Transfers to the Crown Entity
(5,613)
...
...
Sales of goods and services
36,855
...
...
Investment revenue
11,652
11,738
12,463
...
30,761
32,452
Total Revenue
42,894
42,499
44,915
Net Result
11,473
11,599
12,323
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Other revenue
11 - 24
Budget Estimates 2015-16
Ports Assets Ministerial Holding Corporation
Balance Sheet
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Assets
Current Assets
Cash assets
1,537
2,120
1,731
Receivables
8
19
10
1,545
2,139
1,741
177,192
177,192
189,655
Total Non Current Assets
177,192
177,192
189,655
Total Assets
178,737
179,331
191,396
77
355
97
77
355
97
77
355
97
178,660
178,976
191,299
178,660
178,976
191,299
178,660
178,976
191,299
Total Current Assets
Non Current Assets
Receivables
Liabilities
Current Liabilities
Payables
Total Current Liabilities
Total Liabilities
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2015-16
11 - 25
Ports Assets Ministerial Holding Corporation
Cash Flow Statement
__________
2014-15__________
Budget
Revised
$000
$000
2015-16
Budget
$000
Cash Flows From Operating Activities
Payments
Other
Total Payments
31,427
31,503
33,450
31,427
31,503
33,450
36,855
(9)
9
8
94
...
Receipts
Sale of goods and services
Interest received
Cash transfers to the Crown Entity
(5,613)
...
...
8
31,361
33,052
31,258
31,446
33,061
Net Cash Flows From Operating Activities
(169)
(57)
(389)
Net Increase/(Decrease) in Cash
(169)
(57)
(389)
Opening Cash and Cash Equivalents
1,706
2,177
2,120
Closing Cash and Cash Equivalents
1,537
2,120
1,731
11,473
11,599
12,323
(11,644)
(11,644)
(12,463)
2
(12)
(249)
(169)
(57)
(389)
Other
Total Receipts
Cash Flow Reconciliation
Net result
Non cash items added back
Change in operating assets and liabilities
Net Cash Flows From Operating Activities
11 - 26
Budget Estimates 2015-16
Advance to the Treasurer
Each year an amount is advanced to the Treasurer to manage expenditure contingencies and
unforseen events in the Budget year.
Once allocated, expenditure is shown within the appropriate agency. As the use of Treasurer’s
Advance represents a transfer of spending, there is no budget impact.
In 2015-16 an amount of $170 million has been allocated. This comprises $150 million for
recurrent services and $20 million for capital works and services.
11 - 27
Budget Estimates 2015-16