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Portfolio budget statements

Portfolio Additional Estimates Statements 2004–2005

Environment and Heritage Portfolio
Explanation of Additional Estimates 2004–2005
Commonwealth of Australia 2005
ISSN 1448 – 9058 (Online)

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Part C - Agency Additional Estimates Statements (continued)
Australian Greenhouse Office (continued)

Section 3 - Budgeted Financial Statements

Budgeted Financial Statements

The following budgeted departmental financial statements and administered notes for the Australian Greenhouse Office are presented in this section. Information from the following budgeted financial statements forms part of the audited financial statements, and is also required as input into the Whole of Government Accounts.

The Australian Greenhouse Office was abolished as an Executive Agency under the Public Service Act 1999 on 26 October 2004 and as a Prescribed Agency under the Financial Management and Accountability Act 1997 on 3 November 2004 following the Ministry changes announced after the recent election. The budget estimates for the Australian Greenhouse Office have been incorporated into the Department of the Environment and Heritage - Outcome 1 Environment. Consequently, the 2004 05 budget estimates are apportioned between the Agency Additional Estimates Statements for the Australian Greenhouse Office (1 July 2004 to 3 November 2004) and the Department of the Environment and Heritage (4 November 2004 to 30 June 2005).

ANALYSIS OF BUDGETED FINANCIAL STATEMENTS

Budgeted Departmental Statement of Financial Performance

On 3 November 2004 the Australian Greenhouse Office was abolished as a prescribed agency under the Financial Management and Accountability Act 1997. From 4 November 2004 funding will be directly appropriated to the Department of the Environment and Heritage - Outcome 1 Environment. Consequently, the 2004 05 Revenue-from-Government estimate includes an appropriation of only $5.313m for the period 1 July 2004 to 3 November 2004. The expense estimates accordingly relate to the period 1 July 2004 to 3 November 2004. Revenue and expense estimates for the remaining period are reflected in the Budgeted Departmental Statement of Financial Performance for the Department of the Environment and Heritage.

Schedule of Budgeted Revenues and Expenses Administered on behalf of Government

On 3 November 2004 the Australian Greenhouse Office was abolished as a prescribed agency under the Financial Management and Accountability Act 1997. From 4 November 2004 funding will be directly appropriated to the Department of the Environment and Heritage - Outcome 1 Environment. Consequently, the 2004-05 Schedule of Budgeted Revenues and Expenses Administered on behalf of Government includes revenues and expenses estimates relate to the period 1 July 2004 to 3 November 2004. Revenue and expense estimates for the remaining period are reflected in the Schedule of Budgeted Revenues and Expenses Administered on behalf of Government for the Department of the Environment and Heritage.

Budgeted Departmental Statement of Financial Position

The closing balances previously reflected in the Budgeted Departmental Statement of Financial Position have been transferred to the Department of the Environment and Heritage.

Table 3.1– Budgeted departmental statement of financial performance
(for the period ended 30 June 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
REVENUES FROM ORDINARY ACTIVITIES
            
Revenues from Government
   81,511 5,313 0 0 0
Goods and services
   560 0 0 0 0
Total revenues from ordinary activities
   82,071 5,313 0 0 0
EXPENSES FROM ORDINARY
            
ACTIVITIES (excluding borrowing costs expense)
            
Employees
   15,720 5,028 0 0 0
Suppliers
   36,559 263 0 0 0
Grants
   32,128 0 0 0 0
Depreciation and amortisation
   106 22 0 0 0
Others
   5 0 0 0 0
Total expenses from ordinary activities (excluding borrowing costs expense)
   84,518 5,313 0 0 0
Borrowing cost expense
   0 0 0 0 0
Net Surplus or (deficit) from ordinary activities
   (2,447) 0 0 0 0
Gain or loss on extraordinary items
   0 0 0 0 0
Net Surplus or (deficit)
   (2,447) 0 0 0 0

Table 3.2 Budgeted Departmental Statement of Financial position
(as at 30 June 2005)
The closing balances previously reflected in the Budgeted Departmental Statement of Financial Position have been transferred to the Department of the Environment and Heritage.

Table 3.3– Budgeted departmental statement of cash flows
(for the period ended 30 June 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
OPERATING ACTIVITIES
            
Cash received
            
  
Appropriations for outputs
   81,195 5,313 0 0 0
Cash from the OPA
   22,791 0 0 0 0
Sales of goods and services
   1,161 0 0 0 0
  
Others
   4,978 0 0 0 0
Total cash received
   110,125 5,313 0 0 0
Cash Used
            
  
Employees
   15,434 5,028 0 0 0
  
Suppliers
   39,284 263 0 0 0
  
Grants
   33,526 0 0 0 0
Cash to the OPA
   0 23,121 0 0 0
  
Others
   0 0 0 0 0
Total cash used
   88,244 28,412 0 0 0
Net cash from operating activities
   21,881 (23,099) 0 0 0
INVESTING ACTIVITIES
            
Cash Received
            
Proceeds from sale of property, plant and equipment
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash used
            
  
Purchase of property, plant and equipment
   0 0      
  
Other
   70 0 0 0 0
Total cash used
   70 0 0 0 0
Net cash from investing activities
   (70) 0 0 0 0
FINANCING ACTIVITIES
            
Cash Received
            
  
Proceeds from debt
   0 0 0 0 0
  
Proceeds from issuing equity instruments
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash Used
            
Cash used for other financing activities
   0 0 0 0 0
Total Cash Used
   0 0 0 0 0
Net cash from financing activities
   0 0 0 0 0
Net increase/(decrease) in cash held
   21,811 (23,099) 0 0 0
Cash at the beginning of the reporting period
   1,288 23,099 0 0 0
Cash at the end of the reporting period
   23,099 0 0 0 0

Table 3.4 Departmental Capital Budget Statement
The Australian Greenhouse Office has not been appropriated any Departmental Capital in 2004-05.

Table 3.5 Departmental non-financial assets
summary of movement (Budget year 2004-05)
The closing balances previously reflected in the Departmental Non-Financial Assets Summary of Movement have been transferred to the Department of the Environment and Heritage.

Table 3.6– Schedule of budgeted revenues and expenses administered on behalf of Government
(for the period ended 30 June 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
Revenues
            
Non-taxation
            
Revenues from Government
   0 0 0 0 0
Other sources of non-taxation revenue
   0 0 0 0 0
Total non-taxation
   0 0 0 0 0
Total revenues administered on behalf of the Government
   0 0 0 0 0
Expenses
            
Grants
   24,277 4,308 0 0 0
Total expenses administered on behalf of the Government
   24,277 4,308 0 0 0

Table 3.7 - Schedule of budgeted assets and liabilities administered on behalf of Government
(as at 30 June 2005)
The closing balances previously reflected in the Schedule of Budgeted Assets and Liabilities have been transferred to the Department of the Environment and Heritage.

Table 3.8– Schedule of budgeted administered cash flows
(for the period ended 30 June 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
OPERATING ACTIVITIES
            
Cash received
            
Sales of goods and services
   0 0 0 0 0
Interest
   0 0 0 0 0
Cash from Official Public Account
   26,437 4,308 0 0 0
Special Accounts
   0 0 0 0 0
Others
   2,328 1,048 0 0 0
Total cash received
   28,765 5,356 0 0 0
Cash Used
            
Suppliers
   0 0 0 0 0
Grants
   26,437 4,308 0 0 0
Cash to Official Public Account
   2,328 801 0 0 0
Special Accounts
   0 0 0 0 0
Others
   0 247 0 0 0
Total cash used
   28,765 5,356 0 0 0
Net cash from operating activities
   0 0 0 0 0
INVESTING ACTIVITIES
            
Cash Received
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash Used
   0 0 0 0 0
Total cash used
   0 0 0 0 0
Net cash from investing activities
   0 0 0 0 0
FINANCING ACTIVITIES
            
Cash Received
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash Used
   0 0 0 0 0
Total cash used
   0 0 0 0 0
Net cash from financing activities
   0 0 0 0 0
Net increase/(decrease) in cash held
   0 0 0 0 0
Cash at the beginning of the reporting period
   0 0 0 0 0
Cash at the end of the reporting period
   0 0 0 0 0

TABLE 3.9 - Schedule of Administered Capital Budget
The Australian Greenhouse Office has not been appropriated any Administered Capital in 2004-05.

Table 3.10 - Schedule of administered non-financial assets
summary of movement
(Budget year 2004-05)
The Australian Greenhouse Office does not administer any non-financial assets on behalf of the Australian Government.

Notes to the Financial Statements

1. General notes on accrual budgeting framework

a. Departmental Financial Statements and Notes of Administered Items
b. Appropriations in the Accrual Budgeting Framework
d. Administered investments in controlled entities
e. Asset Valuation

(a) Departmental Financial Statements and Notes of Administered Items

Under the Australian Government's accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (departmental transactions) are separately budgeted for and reported on from transactions over which agencies do not have control (administered transactions). This ensures that agencies are only held fully accountable for the transactions over which they have control.

(b) Appropriations in the Accrual Budgeting Framework

Under the Australian Government's accrual budgeting framework, separate annual appropriations are provided for:

Special appropriations exist under the accrual appropriation framework, and fund the majority of payments from the Consolidated Revenue Fund.

(d) Administered investments in controlled entities

Each Commonwealth Department is required to show an administered investment in each Commonwealth Authority and Company Act entity within their portfolio. These administered investments should be valued at the Commonwealth's ownership interest in the net assets of those CAC entities, fixed at a notional acquisition date of 30 June 1997.

(e) Asset Valuation

From 1 July 2002 Commonwealth agencies and authorities are required to use either the cost basis or the fair value basis to measure property, plant and equipment. The shift from the deprival method of valuation to fair value should occur gradually over a three-year period. Fair value essentially reflects the current market value of an asset. See guidance from the Department of Finance and Administration on how to calculate fair value.

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