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)
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.
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.
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.
| 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 | |
| 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 | |
| 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 | |
| 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 | |
| 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 | ||||
| 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 | ||
| 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 | |
| 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 | |
| The Bureau of Meteorology has not been appropriated any Administered Capital in 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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