10. Treasury Cluster
Expenses
2012-13
Revised
$m
Agency
2013-14
Budget
$m
Capital Expenditure
Var.
%
2012-13
Revised
$m
2013-14
Budget
$m
Var.
%
The Treasury
Service Group
State Resource Management .............................
96.1
91.4
(4.9)
0.4
2.4
535.1
Total
96.1
91.4
(4.9)
0.4
2.4
535.1
Service Group
Debt Liability Management ...............................1,757.7
Superannuation Liability Management .............. 592.6
Central Financial Services ..................................4,027.4
1,601.3
487.7
2,247.0
(8.9)
(17.7)
(44.2)
…
…
0.5
…
…
20.5
…
…
>999.9
Total
4,336.1
(32.0)
0.5
20.5
>999.9
…
0.1
N/A
…
…
…
79.0
140.4
77.8
0.3
0.3
…
0.1
18.2
>999.9
…
…
…
20.0
150.0
650.0
5.0
30.0
500.0
Crown Finance Entity
6,377.7
Liability Management Ministerial Corporation
Total
Long Service Corporation
Total
Ports Assets Ministerial Holding Corporation
Total
Advance to the Treasurer
Total
(a)
(a) The 2012-13 Revised estimates represent the unamortised expense and capital expenditure provisions
for the year.
Budget Estimates 2013-14
10 - 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 NSW through sound public and
inter-governmental finances that support effective service delivery; lifting performance of State
Owned Corporations 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 provides leadership in financial management across the public sector and is the lead
for achieving the NSW 2021 goal to rebuild State finances.
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 state
owned corporations (SOCs)

a whole-of-government advisory role on commercial financing through the Infrastructure
Financing unit (IFU)

managing portable long service schemes to building, construction and contract cleaning
industries.
10 - 2
Budget Estimates 2013-14
Treasury Cluster
Services
The Treasury cluster’s key services are:

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

provide strategic policy advice to the government on public and private sector industrial
relations issues

monitoring public sector wage growth

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

managing superannuation liabilities and funding arrangements in line with the Government’s
plan to fully fund them

administering portable long service schemes

delivering industrial relations information, assistance and education programs with a focus
on assisting vulnerable sections of the community and enabling employers understand and
comply with their obligations.
2013-14 Budget Highlights
In 2013-14, the cluster’s key initiatives will include:

contributing $1.3 billion to the State Super defined benefit scheme to meet member
expenses

$165 million for first home owner grants

$144 million in levy and investment to fund the building, construction and contract cleaning
industries

$72 million in long service leave payments to workers in the building, construction and
contract cleaning industries

$95 million for natural disaster relief grants

contributing $16 million to build up an asset portfolio to fund the judges’ pension scheme
superannuation liability by 2030
Budget Estimates 2013-14
10 - 3
Treasury Cluster

$8 million to progress the financial management transformation program focusing on a new
framework and financial information system as recommended by the Commission of Audit

$1 million will be reprioritised to extend innovative financing for State infrastructure and
actively manage the State’s Balance Sheet.
10 - 4
Budget Estimates 2013-14
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
2010-11
Actual
2011-12
Actual
2012-13
Forecast
2012-13
Revised
2013-14
Forecast
%
100
100
100
100
100
%
%
100
100
100
84
100
100
100
63
100
100
FTE
357
357
389
542
473
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
Employees:
(a)
(a) Increase in FTE from 2012-13 Forecast to 2012-13 Revised is due to the transfer of NSW Industrial
Relations (NSWIR) and Long Service Corporation (LSC) from Department of Finance and Services (DFS) to
Treasury during the year. Decrease in FTE from 2012-13 Revised to 2013-14 Forecast is predominantly
due to the transfer of Self Insurance Corporation group to DFS.
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
Total expenses include the following:
Employee related
Other operating expenses
Grants and subsidies
Capital Expenditure
Budget Estimates 2013-14
102,263
96,058
91,391
75,542
25,771
170
72,237
22,681
169
70,158
20,054
169
385
385
2,445
10 - 5
The Treasury
Financial Statements
Operating Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
75,542
25,771
72,237
22,681
70,158
20,054
Depreciation and amortisation
780
971
1,010
Grants and subsidies
170
169
169
102,263
96,058
91,391
74,781
74,781
74,439
385
385
2,445
23,037
22,252
12,856
558
566
510
3,436
3,150
3,003
...
106
106
102,197
101,240
93,359
(66)
5,182
1,968
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Recurrent appropriation
Capital appropriation
Sales of goods and services
Investment revenue
Acceptance by Crown Entity of employee benefits and
other liabilities
Other revenue
Total Revenue
Net Result
10 - 6
Budget Estimates 2013-14
The Treasury
Balance Sheet
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Assets
Current Assets
Cash assets
14,323
22,911
22,879
Receivables
3,829
5,828
5,737
Other
2,326
...
...
20,478
28,739
28,616
8,110
7,747
2,278
Property, plant and equipment Plant and equipment
961
1,428
1,138
Intangibles
491
551
2,276
9,562
9,726
5,692
30,040
38,465
34,308
Payables
4,111
4,389
4,356
Provisions
9,138
9,967
9,353
13,249
14,356
13,709
8,166
8,855
3,377
138
138
138
8,304
8,993
3,515
21,553
23,349
17,224
8,487
15,116
17,084
8,487
15,116
17,084
8,487
15,116
17,084
Total Current Assets
Non Current Assets
Receivables
Total Non Current Assets
Total Assets
Liabilities
Current Liabilities
Total Current Liabilities
Non Current Liabilities
Provisions
Other
Total Non Current Liabilities
Total Liabilities
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2013-14
10 - 7
The Treasury
Cash Flow Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Grants and subsidies
Other
Total Payments
74,626
68,864
170
169
72,692
169
28,912
28,811
22,910
103,708
97,844
95,771
74,781
74,781
74,439
Receipts
Recurrent appropriation
Capital appropriation
Sale of goods and services
Interest received
385
385
2,445
13,373
11,251
18,416
558
566
510
15,259
14,149
2,939
104,356
101,132
98,749
648
3,288
2,978
Purchases of property, plant and equipment
(300)
(300)
(350)
Other
1,481
1,662
(2,660)
Net Cash Flows From Investing Activities
1,181
1,362
(3,010)
Net Increase/(Decrease) in Cash
1,829
4,650
(32)
Opening Cash and Cash Equivalents
12,494
18,261
22,911
Closing Cash and Cash Equivalents
14,323
22,911
22,879
(66)
5,182
1,968
Other
Total Receipts
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Cash Flow Reconciliation
Net result
Non cash items added back
780
971
1,010
Change in operating assets and liabilities
(66)
(2,865)
...
Net Cash Flows From Operating Activities
648
3,288
2,978
10 - 8
Budget Estimates 2013-14
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.
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Financial indicators:
Total Expenses Excluding Losses
1,581,023
1,757,658
1,601,342
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.
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
706,403
592,624
487,709
652,300
54,103
576,400
16,224
471,000
16,709
Financial indicators:
Total Expenses Excluding Losses
Total expenses include the following:
Employee related
Grants and subsidies
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 and in 2012-13 grants to Transport
for NSW for rail capital works.
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
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 2013-14
2,238,811
4,027,402
2,247,046
825,102
60,740
1,017,032
331,946
575,467
86,536
2,600,360
759,733
681,825
46,055
1,189,834
324,901
500
500
20,500
10 - 9
Crown Finance Entity
Financial Statements
Operating Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
Depreciation and amortisation
1,477,402
60,740
1,151,867
86,536
1,152,825
46,055
47
47
43
Grants and subsidies
1,071,135
2,616,584
1,206,543
Finance costs
1,579,406
1,757,356
1,600,149
337,507
765,294
330,482
4,526,237
6,377,684
4,336,097
5,976,983
7,589,142
5,078,536
290,854
2,290,854
229,062
Other expenses
TOTAL EXPENSES EXCLUDING LOSSES
Revenue
Recurrent appropriation (a)
Capital appropriation
Cash transfers to the Consolidated Fund
Sales of goods and services
Investment revenue
Grants and contributions
Other revenue
Total Revenue
Other gains/(losses)
Net Result
(3,944,538) (2,219,733) (3,920,134)
13,200
14,232
16,100
432,295
441,318
372,483
...
255,000
10,000
55,946
78,198
66,621
2,824,740
8,449,011
1,852,668
(93,039)
(123,850)
8,690
(1,794,536)
1,947,477
(2,474,739)
(a) Excludes appropriation associated with Commonwealth transfer payments to Non-Government Schools
and Local Government.
10 - 10
Budget Estimates 2013-14
Crown Finance Entity
Balance Sheet
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Assets
Current Assets
Cash assets
1,342,761
9,215,018
Receivables
8,184
17,379
17,143
102,933
111,408
289,592
1,453,878
9,343,805
7,195,423
...
18,472
13,448
2,399,448
4,538,466
4,360,296
1,000
45
...
500
45
...
1,000
25
20,000
23
23
...
Total Non Current Assets
2,400,516
4,557,506
4,394,769
Total Assets
3,854,394
13,901,311
11,590,192
Other financial assets
Total Current Assets
6,888,688
Non Current Assets
Receivables
Other financial assets
Property, plant and equipment Land and building
Plant and equipment
Infrastructure systems
Intangibles
Liabilities
Current Liabilities
701,580
683,313
694,929
Borrowings at amortised cost
Payables
82,123
288,513
1,834,407
Other financial liabilities at fair value
64,611
...
...
6,049,400
6,860,074
6,635,470
173,283
141,276
118,176
7,070,997
7,973,176
9,282,982
Borrowings at amortised cost
26,461,735 24,467,383
24,445,996
Provisions
28,380,582 42,110,786
37,365,930
Provisions
Other
Total Current Liabilities
Non Current Liabilities
Other
888,869
952,869
801,525
Total Non Current Liabilities
55,731,186
67,531,038
62,613,451
Total Liabilities
62,802,183
75,504,214
71,896,433
Net Assets
(58,947,789) (61,602,903) (60,306,241)
Equity
Reserves
Accumulated funds
Total Equity
Budget Estimates 2013-14
...
2,214,474
2,214,474
(58,947,789) (63,817,377) (62,520,715)
(58,947,789) (61,602,903) (60,306,241)
10 - 11
Crown Finance Entity
Cash Flow Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Grants and subsidies
Finance costs
Other
2,667,502
1,063,929
1,406,643
511,939
2,132,972
2,645,255
1,434,990
697,304
2,264,824
1,206,543
1,430,479
516,517
Total Payments
5,650,013
6,910,521
5,418,363
Receipts
Recurrent appropriation (a)
Capital appropriation
Sale of goods and services
Interest received
Retained taxes, fees and fines
Grants and contributions
Cash transfers to the Consolidated Fund
Other
Total Receipts
5,976,983
7,589,142
5,078,536
290,854
2,290,854
229,062
...
7,003
115
390,725
404,830
335,280
(11,400)
(400)
(500)
21
255,021
10,021
(3,949,258) (2,242,168) (3,920,134)
76,125
111,216
94,724
2,774,050
8,415,498
1,827,104
(2,875,963)
1,504,977
(3,591,259)
1,111
240,456
(500)
(21)
(168,956)
4,848,060
98,410
(500)
(20)
(183,710)
832
134,788
(20,500)
(21)
(94,699)
72,090
4,762,240
20,400
3,327,263
3,178,327
(54,308) (2,820,290)
(184,078)
(151,255)
1,485,199
(55,061)
(185,609)
3,088,877
206,782
1,244,529
285,004
6,473,999
(2,326,330)
Opening Cash and Cash Equivalents
1,057,757
2,741,019
9,215,018
Closing Cash and Cash Equivalents
1,342,761
9,215,018
6,888,688
Net Cash Flows From Operating Activities
Cash Flows From Investing Activities
Proceeds from sale of investments
Advance repayments received
Purchases of property, plant and equipment
Purchases of investments
Advances made
Net Cash Flows From Investing Activities
Cash Flows From Financing Activities
Proceeds from borrowings and advances
Repayment of borrowings and advances
Other
Net Cash Flows From Financing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
Non cash items added back
Change in operating assets and liabilities
(1,794,536)
135,051
(1,216,478)
1,947,477 (2,474,739)
351,150
53,498
(793,650) (1,170,018)
Net Cash Flows From Operating Activities
(2,875,963)
1,504,977
(3,591,259)
(a) Excludes appropriation associated with Commonwealth transfer payments to Non-Government Schools
and Local Government.
10 - 12
Budget Estimates 2013-14
Liability Management Ministerial Corporation
Financial Statements
Operating Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
TOTAL EXPENSES EXCLUDING LOSSES
70,410
206
...
(48)
...
55
70,616
(48)
55
1,253
4,110
2,997
54,103
16,224
16,709
55,356
20,334
19,706
(15,260)
20,382
19,651
Revenue
Investment revenue
Grants and contributions
Total Revenue
Net Result
Budget Estimates 2013-14
10 - 13
Liability Management Ministerial Corporation
Balance Sheet
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Assets
Current Assets
Cash assets
100
100
100
Receivables
...
2
5
100
102
105
29,605
35,252
54,925
Total Non Current Assets
29,605
35,252
54,925
Total Assets
29,705
35,354
55,030
100
30
55
40,100
...
...
40,200
30
55
674,400
...
...
Total Non Current Liabilities
674,400
...
...
Total Liabilities
714,600
30
55
(684,895)
35,324
54,975
(684,895)
35,324
54,975
(684,895)
35,324
54,975
Total Current Assets
Non Current Assets
Other financial assets
Property, plant and equipment -
Liabilities
Current Liabilities
Payables
Provisions
Total Current Liabilities
Non Current Liabilities
Provisions
Net Assets
Equity
Accumulated funds
Total Equity
10 - 14
Budget Estimates 2013-14
Liability Management Ministerial Corporation
Cash Flow Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Other
Total Payments
39,966
...
...
201
27
35
40,167
27
35
Receipts
Interest received
...
10
3
54,103
16,224
16,709
...
8
2
54,103
16,242
16,714
13,936
16,215
16,679
(13,936)
(16,625)
(16,679)
(13,936)
(16,625)
(16,679)
...
(410)
...
Opening Cash and Cash Equivalents
100
510
100
Closing Cash and Cash Equivalents
100
100
100
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
(15,260)
20,382
19,651
Non cash items added back
(1,253)
(4,100)
(2,994)
Change in operating assets and liabilities
30,449
(67)
22
Net Cash Flows From Operating Activities
13,936
16,215
16,679
Budget Estimates 2013-14
10 - 15
Long Service Corporation
Financial Statements
Operating Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Expenses Excluding Losses
Operating Expenses Employee related
Other operating expenses
Depreciation and amortisation
Grants and subsidies
Finance costs
Other expenses
TOTAL EXPENSES EXCLUDING LOSSES
184
10,990
187
(39,453)
33
10,886
589
229
448
118,400
64,491
72,016
171
51,705
55,500
1,634
1,800
1,471
131,968
78,959
140,354
Revenue
Investment revenue
Retained taxes, fees and fines
Other revenue
Total Revenue
Other gains/(losses)
Net Result
10 - 16
51,779
117,709
51,047
114,400
100,652
92,500
27
6
13
166,206
218,367
143,560
...
(6)
...
34,238
139,402
3,206
Budget Estimates 2013-14
Long Service Corporation
Balance Sheet
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Assets
Current Assets
Cash assets
12,629
53,956
56,456
Receivables
3,623
6,597
5,932
16,252
60,553
62,388
Total Current Assets
Non Current Assets
Other financial assets
728,692
701,303
755,292
Property, plant and equipment Plant and equipment
426
534
365
Intangibles
245
203
210
Total Non Current Assets
729,363
702,040
755,867
Total Assets
745,615
762,593
818,255
4,335
3,737
3,993
Liabilities
Current Liabilities
Payables
Borrowings at amortised cost
706
...
...
404,778
466,608
467,808
409,819
470,345
471,801
1,828
...
...
380,655
291,354
342,354
Total Non Current Liabilities
382,483
291,354
342,354
Total Liabilities
792,302
761,699
814,155
(46,687)
894
4,100
(46,687)
894
4,100
(46,687)
894
4,100
Provisions
Total Current Liabilities
Non Current Liabilities
Borrowings at amortised cost
Provisions
Net Assets
Equity
Accumulated funds
Total Equity
Budget Estimates 2013-14
10 - 17
Long Service Corporation
Cash Flow Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Cash Flows From Operating Activities
Payments
Employee related
Grants and subsidies
Finance costs
Other
Total Payments
184
187
33
118,400
64,491
72,016
...
105
...
(36,328)
8,006
14,132
82,256
72,789
86,181
Receipts
Sale of goods and services
Interest received
Retained taxes, fees and fines
Other
Total Receipts
Net Cash Flows From Operating Activities
...
6
...
462
1,315
1,698
112,802
97,878
91,647
293
51
570
113,557
99,250
93,915
31,301
26,461
7,734
31
24
14
Cash Flows From Investing Activities
Proceeds from sale of property, plant and equipment
Purchases of property, plant and equipment
(46)
(147)
(50)
(50,959)
...
(4,948)
(380)
(201)
(250)
(51,354)
(324)
(5,234)
(930)
(3,294)
...
(930)
(3,294)
...
(20,983)
22,843
2,500
Opening Cash and Cash Equivalents
33,612
31,113
53,956
Closing Cash and Cash Equivalents
12,629
53,956
56,456
34,238
139,402
3,206
Purchases of investments
Other
Net Cash Flows From Investing Activities
Cash Flows From Financing Activities
Repayment of borrowings and advances
Net Cash Flows From Financing Activities
Net Increase/(Decrease) in Cash
Cash Flow Reconciliation
Net result
Non cash items added back
(50,557)
(116,165)
(48,593)
Change in operating assets and liabilities
47,620
3,224
53,121
Net Cash Flows From Operating Activities
31,301
26,461
7,734
10 - 18
Budget Estimates 2013-14
Ports Assets Ministerial Holding Corporation
Financial Statements
Operating Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Expenses Excluding Losses
Operating Expenses Other operating expenses
TOTAL EXPENSES EXCLUDING LOSSES
...
50
18,184
...
50
18,184
Revenue
Investment revenue
...
...
9,504
Other revenue
...
437
23,294
Total Revenue
...
437
32,798
Net Result
...
387
14,614
Budget Estimates 2013-14
10 - 19
Ports Assets Ministerial Holding Corporation
Balance Sheet
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Assets
Current Assets
Cash assets
...
387
5,497
...
387
5,497
...
134,622
144,126
Total Non Current Assets
...
134,622
144,126
Total Assets
...
135,009
149,623
...
135,009
149,623
...
135,009
149,623
...
135,009
149,623
Total Current Assets
Non Current Assets
Receivables
Net Assets
Equity
Accumulated funds
Total Equity
10 - 20
Budget Estimates 2013-14
Ports Assets Ministerial Holding Corporation
Cash Flow Statement
__________
2012-13__________
Budget
Revised
$000
$000
2013-14
Budget
$000
Cash Flows From Operating Activities
Payments
Other
...
50
18,184
...
50
18,184
...
437
23,294
...
437
23,294
Net Cash Flows From Operating Activities
...
387
5,110
Net Increase/(Decrease) in Cash
...
387
5,110
Opening Cash and Cash Equivalents
...
...
387
Closing Cash and Cash Equivalents
...
387
5,497
Net result
...
387
14,614
Non cash items added back
...
...
(9,504)
Net Cash Flows From Operating Activities
...
387
5,110
Total Payments
Receipts
Other
Total Receipts
Cash Flow Reconciliation
Budget Estimates 2013-14
10 - 21
Advance to the Treasurer
Advance to the Treasurer
Each year an amount is advanced to the Treasurer to manage 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 2013-14 an amount of $180 million has been allocated. This comprises $150 million for
recurrent services and $30 million for capital works and services.
The Treasurer’s Advance has been significantly reduced from previous years, following the
implementation of stronger budget control measures.
10 - 22
Budget Estimates 2013-14