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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)
Bureau of Meteorology (continued)

Section 3 - Budgeted Financial Statements

The budgeted departmental financial statements and administered schedules for the Bureau of Meteorology are presented in this section. Information from the budgeted financial statements forms part of the financial statements that will appear in the Bureau of Meteorology's 2004-05 Annual Report, and is also required as input into the Whole of Government Accounts.

ANALYSIS OF BUDGETED FINANCIAL STATEMENTS

An analysis of the Bureau of Meteorology’s budgeted financial statements, as reflected in the Bureau of Meteorology’s budgeted departmental financial statements and administered schedules for 2004-05, is provided below:

Budgeted Departmental Statement of Financial Performance

The Bureau of Meteorology is budgeting for a break-even performance for 2004 05. Total revenue is estimated to be $208.0m, a decrease of $6.0m from the 2003 04 actuals. The decrease mainly reflects the movement of $4.500m into the 2003 04 Budget to meet urgent additional costs associated with delays in the relocation of the Bureau's Head Office to new premises.

Total expenses are estimated to be $208.0m, a reduction of $2.6m from the 2003-04 actuals. The decrease is mainly due to a reduction in supplier expenses resulting from the movement of $4.500m into the 2003 04 Budget from 2004-05 (as above), offset by a higher depreciation expense (on the new fitout) relative to 2003-04.

Budgeted Departmental Statement of Financial Position

The Bureau of Meteorology’s budgeted net asset position of $202.9m represents an increase of $9.4m from the 2003-04 actuals. The increase is attributable to increased expenditure in the Bureau of Meteorology’s capital works programme for the replacement of existing radars combined with the construction and introduction of new Doppler radar technology ($9.1m) together with the replacement of some tidal gauges for the National Tidal Centre ($0.3m).

The Bureau of Meteorology’s major asset, ‘Infrastructure, Plant and Equipment’, is projected to increase by $13.5m to $197.9m due primarily to increased expenditure in the Bureau of Meteorology’s capital works programme as outlined above.

The Bureau of Meteorology’s primary liability continues to be accrued employee entitlements, as a result of accruing leave entitlements, of $55.3m.

Schedule of Budgeted Revenues and Expenses Administered on behalf of Government

The Bureau of Meteorology will receive Administered revenue of $16.1m, a decrease of $0.4m from the 2003-04 actuals. The decrease is largely due to variations in the requirements for specialised services provided to the Department of Defence and the aviation industry.

Schedule of Budgeted Assets and Liabilities Administered on behalf of Government

Total assets are expected to remain stable at $3.0m for the 2004-05 financial year. The receivable and accrued revenue will be of the same order of magnitude as the 2003-04 estimated actual.

DEPARTMENTAL FINANCIAL STATEMENTS

Budgeted Departmental Statement of Financial Performance

This statement provides a picture of the expected financial results for the Bureau of Meteorology by identifying full accrual expenses and revenues and highlights whether the Bureau of Meteorology is operating at a sustainable level.

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the Bureau of Meteorology. It helps decision makers to track the management of the Bureau of Meteorology's assets and liabilities.

Budgeted Departmental Statement of Cash Flows

Budgeted cash flows, as reflected in the statement of cash flows, provide important information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities.

Departmental Capital Budget Statement

Shows all planned capital expenditure (capital expenditure on non-financial assets), whether funded either through capital appropriations for additional equity or borrowings, or from funds from internal sources.

Departmental Non-financial Assets - Summary of Movement

Shows budgeted acquisitions and disposals of non-financial assets during the budget year.

SCHEDULE OF ADMINISTERED ACTIVITY

Schedule of Budgeted Revenues and Expenses Administered on behalf of Government

This schedule identifies the main revenues and expenses administered on behalf of the Government except revenue from administered appropriations. As a result of new requirements under the Finance Minister’s Orders (FMO) in 2001–02, the receipt of administered appropriations from the Official Public Account is no longer reported as administered revenue. Under the new FMOs only transactions external to the Commonwealth are reported as revenue.

Schedule of Budgeted Assets and Liabilities Administered on behalf of Government

This schedule shows the assets and liabilities administered on behalf of the Government.

Schedule of Budgeted Administered Cash Flows

This schedule shows cash flows administered on behalf of the Government.

Schedule of Administered Capital Budget

This note shows details of planned administered capital expenditure.

Schedule of Administered Non-financial Assets - Summary of Movement

This schedule discloses details of movements in administered non-financial assets.

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
   197,664 190,755 202,838 207,687 210,815
Sales of goods and services
   15,191 16,702 16,697 16,692 16,692
Proceeds from sale of Assets
   379 325 325 325 325
Other
   809 215 220 225 225
Total revenues from ordinary activities
   214,043 207,997 220,080 224,929 228,057
EXPENSES FROM ORDINARY
            
ACTIVITIES (excluding borrowing costs expense)
            
Employees
   111,161 111,201 114,119 117,044 118,525
Suppliers
   65,771 56,713 62,705 63,841 65,153
Depreciation and amortisation
   31,839 38,588 41,735 42,524 42,803
Write-down of assets
   522 1 1 1 1
Value of Assets sold
   205 325 325 325 325
Other
   1,112 1,169 1,195 1,194 1,250
Total expenses from ordinary activities (excluding borrowing costs expense)
   210,610 207,997 220,080 224,929 228,057
Borrowing cost expense
   0 0 0 0 0
Net Surplus or (deficit) from ordinary activities
   3,433 0 0 0 0
Gain or loss on extraordinary items
   0 0 0 0 0
Net Surplus or (deficit)
   3,433 0 0 0 0
Table 3.2– Budgeted departmental statement of financial position (as at 30 june 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
ASSETS
            
Financial Assets
            
Cash
   3,155 45 45 45 45
Receivables
   4,821 3,101 3,101 3,101 3,101
Accrued revenues
   379 379 379 379 379
Total financial assets
   8,355 3,525 3,525 3,525 3,525
Non-financial assets
            
Land and buildings
   40,799 46,043 50,751 55,459 55,950
Infrastructure, plant and equipment
   184,405 197,928 199,121 202,314 208,924
Inventories
   9,551 9,551 9,551 9,551 9,551
Intangibles
   16,307 12,650 10,908 9,166 7,424
Other
   7,317 7,317 7,317 7,317 7,317
Total Non-financial assets
   258,379 273,489 277,648 283,807 289,166
Total Assets
   266,734 277,014 281,173 287,332 292,691
LIABILITIES
            
Interest bearing liabilities
            
Loans
   0 0 0 0 0
Other
   0 0 0 0 0
Total debt
   0 0 0 0 0
Provisions
            
Employees
   59,364 55,280 55,280 55,280 55,280
Total Provisions
   59,364 55,280 55,280 55,280 55,280
Payables
            
Suppliers
   7,739 12,703 7,762 2,821 1,080
Other
   6,126 6,126 6,126 6,126 6,126
Total Payables
   13,865 18,829 13,888 8,947 7,206
           
Total Liabilities
   73,229 74,109 69,168 64,227 62,486
EQUITY
            
Parent equity Interest
            
Contributed equity
   150,939 160,339 169,439 180,539 187,639
Reserves
   22,342 22,342 22,342 22,342 22,342
Retained surpluses or accumulated deficits
   20,224 20,224 20,224 20,224 20,224
Total parent equity interest
   193,505 202,905 212,005 223,105 230,205
Total equity
   193,505 202,905 212,005 223,105 230,205
Current liabilities
   33,552 33,942 31,679 29,416 28,619
Non-current liabilities
   39,677 40,167 37,489 34,811 33,867
Current assets
   15,983 16,621 16,870 17,240 17,561
Non-current assets
   250,751 260,393 264,303 270,092 275,130
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
   197,664 190,755 202,838 207,687 210,815
Sales of goods and services
   16,342 18,422 16,697 16,692 16,692
Other
   10,151 8,525 8,530 8,535 8,535
Total cash received
   224,157 217,702 228,065 232,914 236,042
Cash Used
            
Employees
   112,076 115,285 114,119 117,044 118,525
Suppliers
   66,047 52,918 68,841 69,976 68,144
Net Cash transferred (to)/from the OPA
   (2,428) 0 0 0 0
Other
   10,472 4,560 4,560 4,560 4,560
Total cash used
   186,167 172,763 187,520 191,580 191,229
Net cash from operating activities
   37,990 44,939 40,545 41,334 44,813
INVESTING ACTIVITIES
            
Cash Received
            
Proceeds from sale of property, plant
            
and equipment
   379 325 325 325 325
Total Cash Received
   379 325 325 325 325
Cash used
            
Purchase of property, plant and equipment
   44,531 54,023 46,219 49,008 48,487
Other
   0 3,751 3,751 3,751 3,751
Total cash used
   44,531 57,774 49,970 52,759 52,238
Net cash from investing activities
   (44,152) (57,449) (49,645) (52,434) (51,913)
FINANCING ACTIVITIES
            
Cash Received
            
Cash from Capital Injections
   6,300 9,400 9,100 11,100 7,100
Total Cash Received
   6,300 9,400 9,100 11,100 7,100
Cash Used
            
Dividends paid
            
Total Cash Used
   0 0 0 0 0
           
Net cash from financing activities
   6,300 9,400 9,100 11,100 7,100
Net increase/(decrease in cash held)
   138 (3,110) 0 0 0
Cash at the beginning of the reporting period
   3,017 3,155 45 45 45
Cash at the end of the reporting period
   3,155 45 45 45 45
Table 3.4 – Departmental capital budget statement
  Note
 Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
Capital appropriations
            
Total equity injections
   6,300 9,400 9,100 11,100 7,100
Total loans
            
Represented by:
            
Purchase of non-current assets
   6,300 9,400 9,100 11,100 7,100
Other
            
Purchase of non-current assets
            
Funded by capital appropriations
   6,300 9,400 9,100 11,100 7,100
Funded internally by departmental resources
   38,231 44,623 37,119 37,908 41,387
Table 3.5 – Departmental non-financial assets summary of movement (Budget year 2004–05)
  Land
$'000		 Buildings
$'000		 Other
Infrastruc
Plant and
Equipment
$'000		 Heritage
and
cultural
assets
$'000		 Computer
Software
$'000		 Other
intangibles
$'000		 Total
$'000
Carrying amount at the start of the year
 4,950 35,849 184,405 0 16,307 0 241,511
Additions *
 268 7,886 45,151   718   54,023
Disposals
 100 200 25   0   325
Revaluation Increments
             0
Recoverable Amount Write-Downs
             0
Net Transfers free of Charge
             0
Depreciation/Amortisation Expense
   2,610 31,603   4,375   38,588
Write-off of Assets
             0
Other Movements
             0
Carrying amount at the end of the  year
 5,118 40,925 197,928 0 12,650 0 256,621
* Total additions
Self funded
 268 7,886 35,751   718   44,623
Appropriations
     9,400       9,400
TOTAL
 268 7,886 45,151   718   54,023
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
            
Taxation
            
Non-taxation
            
Revenues from Government
            
Sales of goods and services
   16,456 16,100 17,050 17,250 17,250
Other sources of non-taxation revenues
            
Total non-taxation
   16,456 16,100 17,050 17,250 17,250
Total revenues administered on behalf of the Government
   16,456 16,100 17,050 17,250 17,250
Expenses
            
Grants
            
Suppliers
            
Other
   0 25 25 25 25
Extraordinary items
            
Total expenses administered on behalf of the Government
   0 25 25 25 25
Table 3.7 –Schedule of budgeted assets and liabilities administered on behalf of government
(as at 30 June 2005)
  Note Actual
2003–04
$'000		 Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000		 2006–07
$'000		 2007–08
$'000
ASSETS
            
Financial Assets
            
Cash
            
Receivables
   1,709 1,709 1,709 1,709 1,709
Investments
            
Accrued revenues
   1,258 1,258 1,258 1,258 1,258
Total financial assets
   2,967 2,967 2,967 2,967 2,967
Non-financial assets
            
Infrastructure, plant and equipment
            
Other
            
Total Non-financial assets
   0 0 0 0 0
Total Assets Administered on behalf of the Government
   2,967 2,967 2,967 2,967 2,967
LIABILITIES
            
Provisions
            
Employees
            
Other
            
Total Provisions
   0 0 0 0 0
Payables
            
Suppliers
            
Grants
            
Other
   16 16 16 16 16
Total Payables
   16 16 16 16 16
Total Liabilities Administered on behalf of the Government
   16 16 16 16 16
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
   16,115 17,665 18,654 18,854 18,854
Cash received – Other
   1,615 0 0 0 0
Total cash received
   17,730 17,665 18,654 18,854 18,854
Cash Used
            
Suppliers
            
Grants
            
Cash to Official Public Account
   16,118 16,075 17,025 17,225 17,225
Other
   1,612 1,590 1,629 1,629 1,629
Total cash used
   17,730 17,665 18,654 18,854 18,854
Net cash from operating activities
   0 0 0 0 0
INVESTING ACTIVITIES
            
Cash Received
            
Other
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash Used
            
Other
   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
            
Other
   0 0 0 0 0
Total Cash Received
   0 0 0 0 0
Cash Used
            
Other
   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 Bureau of Meteorology 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 Bureau of Meteorology does not administer any non-financial assets on behalf of the Commonwealth.

Notes to the Financial Statements

1. General notes on accrual budgeting framework
  1. Departmental Financial Statements and Notes of Administered Items
  2. Appropriations in the Accrual Budgeting Framework
  3. 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 fund the majority of payments from the Consolidated Revenue Fund (especially those that are entitlement driven or involve transfers to state governments).

(c) 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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