Portfolio Budget Statements 2004-2005

Environment and Heritage Portfolio
Budget Initiatives and Explanations of Appropriations 2004-2005
Budget Related Paper No. 1.7
ISSN 1448-1219 (Online), 1448-1200 (Print)

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Part C - Agency Budget Statements (continued)
Bureau of Meteorology (continued)

Section 3 - Budgeted Financial Statements

Analysis of Budgeted Financial Statements
Departmental Financial Statements
Schedule of Administered Activity
Table 3.1 - Budgeted Departmental Statement of Financial Performance
Table 3.2 - Budgeted Departmental Statement of Financial Position
Table 3.3 - Budgeted Departmental Statement of Cash Flows
Table 3.4 - Departmental Capital Budget Statement
Table 3.5 - Departmental Non-Financial Assets - Summary of Movement
Table 3.6 - Schedule of Budgeted Revenues and Expenses Administered on Behalf of Government
Table 3.7 - Schedule of Budgeted Assets and Liabilities Administered on Behalf of Government
Table 3.8 - Schedule of Budgeted Administered Cash Flows
Table 3.9 – Schedule of Administered Capital Budget
Table 3.10– Schedule of Administered Non-Financial Assets– Summary of Movement
Notes to the Financial Statements

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 $205.3 million, a decrease of $8.2 million from the 2003-04 estimated actual. The decrease is primarily the result of:

the funding impact of advancing $4.5 million 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;
a reduction in independent revenue ($1.0 million); and
a small offset due to increased funding for economic parameter adjustments.

Total expenses are estimated to be $205.3m, a reduction of $8.2m from the 2003-04 estimated actual.

The decrease is due to:

the impact of advancing $4.5 million to 2003-04 detailed above; and
decreased expenses associated with independent revenue ($1.0 million), which also has the effect of reducing the estimated actual expenses in 2004-05 by the corresponding amount.

The Bureau of Meteorology was Prescribed on 12 September 2002, the revenues for 2002-03 was for the period 12 September 2002 to 30 June 2003.

Budgeted Departmental Statement of Financial Position

The Bureau of Meteorology's budgeted net asset position of $179.9 million represents an increase of $9.1 million from the 2003-04 estimated actual. The increase is attributable to increased expenditure in the Bureau of Meteorology's capital works programme in relation to the replacement of existing radars combined with the construction and introduction of new Doppler radar technology ($9.1 million).

The Bureau of Meteorology's major asset, ‘Infrastructure, Plant and Equipment', is projected to increase by $6.5 million to $162.6 million due primarily to increased expenditure in the Bureau of Meteorology's capital works programme as outlined above.

Bureau of Meterology Budgeted Assest for 2004-05

The Bureau of Meteorology's primary liability continues to be accrued employee entitlements, as a result of accruing leave entitlements, of $58.8 million.

Schedule of Budgeted Revenues and Expenses Administered on behalf of Government

The Bureau of Meteorology will receive Administered revenue of $16.1 million an increase of $0.2 million from the 2003-04 estimated actual. The increase is largely due to recovering additional costs for specialised services provided to the Department of Defence and the aviation industry.

Bureau of Meterology Administered Revenues

The Bureau of Meteorology was Prescribed on 12 September 2002, the revenues for 2002-03 was for the period 12 September 2002 to 30 June 2003.

Schedule of Budgeted Assets and Liabilities Administered on behalf of Government

Total assets are expected to remain stable at $2.6 million 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)
		Estimated	Budget	FORWARD
		Actual	Estimate	ESTIMATES
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
		$'000	$'000	$'000	$'000	$'000
REVENUES FROM ORDINARY ACTIVITIES
Revenues from Government		197,664	190,447	200,061	204,426	207,705
Sales of goods and services		15,264	14,297	14,292	14,287	14,287
Other		535	540	545	550	550
Total revenues from ordinary activities		213,463	205,284	214,898	219,263	222,542
EXPENSES FROM ORDINARY
ACTIVITIES (excluding borrowing costs expense)
Employees		107,968	110,147	112,585	115,293	116,622
Suppliers		64,096	55,054	60,490	61,519	62,777
Depreciation and amortisation		39,912	38,588	40,308	40,939	41,577
Write-down of assets		1	1	1	1	1
Other		1,486	1,494	1,514	1,511	1,565
Total expenses from ordinary activities (excluding borrowing costs expense)		213,463	205,284	214,898	219,263	222,542
Borrowing cost expense		0	0	0	0	0
Net Surplus or (deficit) from ordinary activities		0	0	0	0	0
Gain or loss on extraordinary items		0	0	0	0	0
Net Surplus or (deficit)		0	0	0	0	0

TABLE 3.2 - BUDGETED DEPARTMENTAL STATEMENT OF FINANCIAL POSITION
(as at 30 June 2005)
		Estimated	Budget	FORWARD
		Actual	Estimate	ESTIMATES
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
		$'000	$'000	$'000	$'000	$'000
ASSETS
Financial Assets
Cash		0	0	0	0	0
Receivables		7,640	7,640	7,640	7,640	7,640
Accrued revenues		523	523	523	523	523
Total financial assets		8,163	8,163	8,163	8,163	8,163

Non-financial assets
Land and buildings		37,481	40,975	43,933	46,891	45,632
Infrastructure, plant and equipment		156,164	162,626	166,663	172,700	179,254
Inventories		12,847	12,847	12,847	12,847	12,847
Intangibles		12,828	12,718	14,523	16,328	18,133
Other		9,630	9,630	9,630	9,630	9,630
Total Non-financial assets		228,950	238,796	247,596	258,396	265,496

Total Assets		237,113	246,959	255,759	266,559	273,659

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		58,088	58,834	58,834	58,834	58,834
Total Provisions		58,088	58,834	58,834	58,834	58,834

Payables
Suppliers		2,311	2,311	2,311	2,311	2,311
Other		5,961	5,961	5,961	5,961	5,961
Total Payables		8,272	8,272	8,272	8,272	8,272

Total Liabilities		66,360	67,106	67,106	67,106	67,106

EQUITY
Parent entity Interest
Contributed equity		6,300	15,400	24,200	35,000	42,100
Reserves		3,023	3,023	3,023	3,023	3,023
Retained surpluses or accumulated deficits		161,430	161,430	161,430	161,430	161,430
Total parent entity interest		170,753	179,853	188,653	199,453	206,553

Total equity		170,753	179,853	188,653	199,453	206,553


Current liabilities		31,020	31,766	31,766	31,766	31,766
Non-current liabilities		35,340	35,340	35,340	35,340	35,340
Current assets		25,701	25,701	25,701	25,701	25,701
Non-current assets		211,412	221,258	230,058	240,858	247,958

TABLE 3.3 - BUDGETED DEPARTMENTAL STATEMENT OF CASH FLOWS
(for the period ended 30 June 2005)
		Estimated	Budget	FORWARD
		Actual	Estimate	ESTIMATES
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
OPERATING ACTIVITIES		$'000	$'000	$'000	$'000	$'000
Cash received
Appropriations for outputs		197,664	190,447	200,061	204,426	207,705
Sales of goods and services		15,264	14,297	14,292	14,287	14,287
Other		8,551	8,525	8,530	8,535	8,535
Total cash received		221,479	213,269	222,883	227,248	230,527

Cash Used
Employees		110,160	109,401	112,585	115,293	116,622
Suppliers		65,257	56,223	61,679	62,705	64,017
Other		4,560	4,560	4,560	4,560	4,560
Total cash used		179,977	170,184	178,824	182,558	185,199

Net cash from operating activities		41,502	43,085	44,059	44,690	45,328

INVESTING ACTIVITIES
Cash Received
Proceeds from sale of property, plant		0	0	0	0	0
and equipment		325	325	325	325	325
Total Cash Received		325	325	325	325	325

Cash used
Purchase of property, plant and equipment		47,393	48,759	49,433	52,064	49,002
Other		3,751	3,751	3,751	3,751	3,751
Total cash used		51,144	52,510	53,184	55,815	52,753

NET CASH FROM INVESTING ACTIVITIES		(50,819)	(52,185)	(52,859)	(55,490)	(52,428)

FINANCING ACTIVITIES

Cash Received
Cash from Capital Injections		6,300	9,100	8,800	10,800	7,100
Total Cash Received		6,300	9,100	8,800	10,800	7,100

Cash Used
Dividends paid		0	0	0	0	0
Total Cash Used		0	0	0	0	0

Net cash from financing activities		6,300	9,100	8,800	10,800	7,100

Net increase/(decrease in cash held)		(3,017)	0	0	0	0

Cash at the beginning of the reporting period		3,017	0	0	0	0
Cash at the end of the reporting period		0	0	0	0	0

TABLE 3.4 - DEPARTMENTAL CAPITAL BUDGET STATEMENT
	Estimated	Budget
	Actual	Estimate	ESTIMATED
	2003-04	2004-05	2005-06	2006-07	2007-08
	$'000	$'000	$'000	$'000	$'000
Capital appropriations
Total equity injections	6,300	9,100	8,800	10,800	7,100
Total loans	0	0	0	0	0

Represented by:
Purchase of non-current assets	6,300	9,100	8,800	10,800	7,100
Other	0	0	0	0	0

Purchase of non-current assets
Funded by capital appropriations	6,300	9,100	8,800	10,800	7,100
Funded internally by departmental resources	41,093	39,659	40,633	41,264	41,902

TABLE 3.5 - DEPARTMENTAL NON-FINANCIAL ASSETS SUMMARY OF MOVEMENT
(BUDGET YEAR 2004-05)
			Other
			Infrastruc	Heritage
			Plant and	and cultural	Computer	Other
	Land	Buildings	Equipment	assets	Software	intangibles	Total
	$'000	$'000	$'000	$'000	$'000	$'000	$'000
Carrying amount at the start of the year	3,947	33,534	156,164		12,828			206,473
Additions *	268	7,886	39,887		718			48,759
Disposals	100	200	35					335
Revaluation Increments
Recoverable Amount Write-Downs
Net Transfers free of Charge			10					10
Depreciation/Amortisation Expense		4,360	33,400		828			38,588
Write-off of Assets
Other Movements
Carrying amount at the end of the year	4,115	36,860	162,626		12,718			216,319

* TOTAL ADDITIONS
Self funded	268	7,886	30,787		718			39,659
Appropriations			9,100					9,100
TOTAL	268	7,886	39,887		718			48,759

TABLE 3.6 - SCHEDULE OF BUDGETED REVENUES AND EXPENSES ADMINISTERED ON BEHALF OF GOVERNMENT
(for the period ended 30 June 2005)
		Estimated	Budget
		Actual	Estimate	ESTIMATED
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
		$'000	$'000	$'000	$'000	$'000
Revenues
Taxation		0	0	0	0	0
Non-taxation
Revenues from Government		0	0	0	0	0
Sales of goods and services		15,890	16,100	16,700	17,250	17,250
Other sources of non-taxation revenues		0	0	0	0	0
Total non-taxation		15,890	16,100	16,700	17,250	17,250
Total revenues administered on behalf of the Government		15,890	16,100	16,700	17,250	17,250

Expenses
Grants		0	0	0	0	0
Suppliers		0	0	0	0	0
Other		25	25	25	25	25
Extraordinary items		0	0	0	0	0
Total expenses administered on behalf of the Government		25	25	25	25	25

TABLE 3.7 - SCHEDULE OF BUDGETED ASSETS AND LIABILITIES ADMINISTERED ON BEHALF OF GOVERNMENT
(as at 30 June 2005)
		Estimated	Budget
		Actual	Estimate	ESTIMATED
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
		$'000	$'000	$'000	$'000	$'000
ASSETS
Financial Assets
Cash		0	0	0	0	0
Receivables		1,488	1,488	1,488	1,488	1,488
Investments		0	0	0	0	0
Accrued revenues		1,138	1,138	1,138	1,138	1,138
Total financial assets		2,626	2,626	2,626	2,626	2,626

Non-financial assets
Infrastructure, plant and equipment		0	0	0	0	0
Other		0	0	0	0	0
Total Non-financial assets		0	0	0	0	0

Total Assets Administered on behalf of the Government		2,626	2,626	2,626	2,626	2,626

LIABILITIES
Provisions
Employees		0	0	0	0	0
Other		0	0	0	0	0
Total Provisions		0	0	0	0	0

Payables
Suppliers		0	0	0	0	0
Grants		0	0	0	0	0
Other		13	13	13	13	13
Total Payables		13	13	13	13	13

Total Liabilities Administered on behalf of the Government		13	13	13	13	13

TABLE 3.8 - SCHEDULE OF BUDGETED ADMINISTERED CASH FLOWS
(for the period ended 30 June 2005)
		Estimated	Budget
		Actual	Estimate	ESTIMATED
	Note	2003-04	2004-05	2005-06	2006-07	2007-08
		$'000	$'000	$'000	$'000	$'000
OPERATING ACTIVITIES
Cash received
Sales of goods and services		17,443	17,665	18,304	18,854	18,854
Cash from Official Public Account		0	0	0	0	0
Total cash received		17,443	17,665	18,304	18,854	18,854

Cash Used
Suppliers		0	0	0	0	0
Grants		0	0	0	0	0
Cash to Official Public Account		15,865	16,075	16,675	17,225	17,225
Other		1,578	1,590	1,629	1,629	1,629
Total cash used		17,443	17,665	18,304	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

(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.

Departmental assets are those assets, liabilities, revenues and expenses in relation to an agency or authority that are controlled by the agency. Departmental expenses include employee and supplier expenses and other administrative costs, which are incurred by the agency in providing its goods and services.
Administered items are revenues, expenses, assets and liabilities that are managed by an agency or authority on behalf of the Government according to set Government directions. Administered expenses include subsidies, grants and personal benefit payments and administered revenues include taxes, fees, fines and excises.

(b) Appropriations in the Accrual Budgeting Framework

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

departmental price of outputs appropriations: representing the Government's funding for outputs from agencies;
departmental capital appropriations: for investments by the Government for either additional equity injections or loans in agencies;
administered expense appropriations: for the estimated administered expenses relating to an existing outcome, a new outcome or a Specific Purpose Payment to the states; and
administered capital appropriations: for increases in administered equity through funding non-expense administered payments.

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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