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)
Director of National Parks (continued)

Section 3 - Budgeted Financial Statements

Analysis of Budgeted financial Statements
Departmental Financial Statement
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
Notes to the Financial Statements

The budgeted departmental financial statements for the Director of National Parks are presented in this section. Information from the budgeted financial statements forms part of the financial statements that will appear in the Director of National Parks 2004 2005 Annual Report, and is also required as input into the Whole of Government Accounts.

Analysis of Budgeted financial Statements

Budgeted Departmental Statement of Financial Performance

Revenues for the Director of National Parks are expected to increase by $4.704 million to $56.635 million primarily due to Park Fee increases. These assumptions include a solid return of international visitors. The total number of visitors is significantly down in 2003 04 due to the impacts of the Severe Acute Respiratory Syndrome (SARS) and international terrorism upon international visitors.

Other impacts on revenues for 2004-05 include the cessation of the funding arrangement for the management of the Royal Australian Navy Weapons Range – Beecroft with the Department of Defence and the transfer of functions relating to Marine Protected Areas to the Department of the Environment and Heritage.

Expenses for the Director of National Parks increase by $1.628 million primarily due to expected labour rate increases and increases in traditional owner payments in line with increases in Park Fees.

Overall the deficit is expected to return to a surplus of $0.294 million in 2004-05 from the approved loss of $2.782 million in 2003-04.

Budgeted Departmental Statement of Financial Position

It is expected that the net assets of the Director of National Parks will remain steady from 2003 04 to 2004-05.

Budgeted Departmental Statement of Cash Flows

The primary increase in cash inflows represents the park fees increase mentioned above. Cash outflows in 2004-05 are less than 2003 04 due primarily to the payments of expenses relating to 2002 03 in 2003 04.

Departmental Financial Statement

Budgeted Departmental Statement of Financial Performance

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

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the Director of National Parks. It helps decision makers to track the management of the Director of National Parks' 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.

Budgeted Departmental Statement of Cash Flows

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.

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	2	35,552	35,965	37,147	38,388	38,533
Sales of goods and services		10,670	16,220	17,031	17,883	17,883
Interest		450	450	450	450	450
Other	3	5,259	4,000	4,000	4,000	4,000
Total revenues from ordinary activities		51,931	56,635	58,628	60,721	60,866

EXPENSES FROM ORDINARY
ACTIVITIES (excluding borrowing costs expense)
Employees		20,672	20,305	20,942	20,744	21,377
Suppliers		24,009	25,595	25,936	27,766	27,278
Depreciation and amortisation		10,032	10,441	10,441	10,441	10,441
Total expenses from ordinary activities (excluding borrowing costs expense)		54,713	56,341	57,319	58,951	59,096

Net Surplus or (deficit) from ordinary activities		(2,782)	294	1,309	1,770	1,770

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		6,249	7,649	9,241	11,301	14,368
Receivables		400	400	400	400	400
Total financial assets		6,649	8,049	9,641	11,701	14,768

Non-financial assets
Land and buildings		53,342	50,442	50,542	47,642	44,742
Infrastructure, plant and equipment		48,654	50,634	50,443	53,252	55,061
Other		313	313	313	313	313
Total Non-financial assets		102,309	101,389	101,298	101,207	100,116
Total Assets		108,958	109,438	110,939	112,908	114,884

LIABILITIES
Interest bearing liabilities
Finance Leases		0	0	0	0	0
Total debt		0	0	0	0	0

Provisions
Employees	4	5,310	5,496	5,688	5,887	6,093
Other		0	0	0	0	0
Total Provisions		5,310	5,496	5,688	5,887	6,093

Payables
Suppliers		3,000	3,000	3,000	3,000	3,000
Grants		0	0	0	0	0
Other		0	0	0	0	0
Total Payables		3,000	3,000	3,000	3,000	3,000

Total Liabilities		8,310	8,496	8,688	8,887	9,093

EQUITY
Parent entity Interest
Contributed equity		9,755	9,755	9,755	9,755	9,755
Reserves		26,698	26,698	26,698	26,698	26,698
Retained surpluses or accumulated deficits		64,195	64,489	65,798	67,568	69,338
Total parent entity interest		100,648	100,942	102,251	104,021	105,791

Total equity		100,648	100,942	102,251	104,021	105,791

Current liabilities		5,920	6,023	6,128	6,238	6,351
Non-current liabilities		2,390	2,473	2,560	2,649	2,742
Current assets		6,962	8,362	9,954	12,014	15,081
Non-current assets		101,996	101,076	100,985	100,894	99,803

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		35,552	35,965	37,147	38,388	38,533
Sales of goods and services		11,570	16,220	17,031	17,883	17,883
Interest		450	450	450	450	450
Other		1,959	700	700	700	700
Total cash received		49,531	53,335	55,328	57,421	57,566

Cash Used
Employees		20,492	20,119	20,750	20,545	21,171
Suppliers		24,681	22,645	22,986	24,816	24,328
Total cash used		45,173	42,764	43,736	45,361	45,499

Net cash from operating activities		4,358	10,571	11,592	12,060	12,067

INVESTING ACTIVITIES
Cash Received
Proceeds from sale of property, plant		500	500	500	500	500
and equipment
Total Cash Received		500	500	500	500	500

Cash used
Purchase of property, plant and equipment		10,054	9,671	10,500	10,500	9,500
Other		203	0	0	0	0
Total cash used		10,257	9,671	10,500	10,500	9,500

Net Cash from Investing Activities		(9,757)	(9,171)	(10,000)	(10,000)	(9,000)
FINANCING ACTIVITIES

Cash Received
Other		0	0	0	0	0
Total Cash Received		0	0	0	0	0

Cash Used
Capital use charge paid		12,545	0	0	0	0
Total Cash Used		12,545	0	0	0	0

Net Cash from Financing Activities		(12,545)	0	0	0	0

Net increase/(decrease in cash held)		(17,944)	1,400	1,592	2,060	3,067

Cash at the beginning of the reporting period		24,193	6,249	7,649	9,241	11,301
Cash at the end of the reporting period		6,249	7,649	9,241	11,301	14,368

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
Total loans

Represented by:
Purchase of non-current assets
Other

Purchase of non-current assets
Funded by capital appropriations
Funded internally by departmental resources	10,054	9,671	10,500	10,500	9,500

TABLE 3.5 DEPARTMENTAL NON-FINANCIAL ASSETS
SUMMARY OF MOVEMENT (BUDGET YEAR 2003-04)
			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	8,345	44,997	48,654				*101,996*
Additions *			9,671				9,671
Disposals			150				150
Revaluation Increments
Recoverable Amount Write-Downs
Net Transfers free of Charge
Depreciation/Amortisation Expense		2,900	7,541				10,441
Write-off of Assets
Carrying amount at the end of the year	8,345	42,097	50,634				*101,076*

* TOTAL ADDITIONS
Self funded			9,671				9,671
TOTAL			9,671				9,671

Notes to the Financial Statements

1. General notes on accrual budgeting framework

(a) Departmental Financial Statements and Notes of Administered Items

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

departmental price of outputs appropriations: representing the Government's purchase of 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 exist under the accrual appropriation framework, and fund the majority of payments from the Consolidated Revenue Fund.

(c) 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.

(d) 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.

2. There is no direct appropriation from Government to the Director of National Parks. Funds will be appropriated directly to the Department of the Environment and Heritage and transferred to the Director of National Parks.

3. Included in the figure is an amount of $2.587 million being the resources received free of charge for corporate services provided by the Department of the Environment and Heritage.

4. This figure relates to liability for staff seconded to the Director of National Parks from the Department of the Environment and Heritage.

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