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Agency Budget Statements (continued)
Bureau of Meteorology (continued)

Section 5 - Budgeted Financial Statements

• 5.1: Analysis of budgeted financial statements
• 5.2: Budgeted financial statements tables

5.1: ANALYSIS OF BUDGETED FINANCIAL STATEMENTS

An analysis of the Bureau of Meteorology's (Bureau) budgeted financial statements, as reflected in the Bureau's budgeted departmental financial statements and administered schedules for 2005-06, is provided below:

Budgeted Departmental Statement of Financial Performance

Total revenue to the Bureau in 2005-06 is estimated to be $224.0 million, an increase of $16.0 million from the 2004-05 estimated actual. The increase is primarily the result of:

• the funding impact in 2004-05 of the $4.5 million appropriation advance 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;
• funding for increased depreciation expense as a result of an increased asset base, the delivery of the second phase of the Bureau's new supercomputer and the fit-out of the Bureau's new premises at 700 Collins Street Melbourne;
• increased funding for ongoing expenses associated with the Meteorological Radars - Replacement and Upgrade measure announced in the 2003-04 Budget;
• increased funding associated with the 2005-06 Budget Measure Replacement of Field Meteorological Offices;
• increased funding associated with the 2005-06 Budget Measure Australian Tsunami Warning System - Indian and Pacific Oceans;
• increased funding associated with the 2005-06 Budget Measure Australian-United States Free Trade Agreement; and
• increased funding for economic parameter adjustments offset by an increase in the efficiency dividend from 1 per cent to 1.25 per cent.

Total expenses are estimated to be $224.0 million in 2005-06, an increase of $16.0 million from the 2004-05 estimated actual.

The increase is due to:

• the impact in 2004-05 of the $4.5 million appropriation advance to 2003-04 as detailed above;
• increased depreciation expense as detailed above; and
• expenses associated with the measures as detailed above.

Budgeted Departmental Statement of Financial Position

The Bureau's budgeted equity position of $216.0 million represents an increase of $13.105 million from the 2004-05 estimated actual. The increase is attributable to increased expenditure in the Bureau's capital works programme in relation to the ongoing replacement of existing radars combined with the construction and introduction of new Doppler radar technology ($8.8 million), the replacement of a number of field meteorological offices ($2.0 million), implementation of the Australian Tsunami Warning System - Indian and Pacific Oceans ($2.0 million) and upgrade/replacement of equipment for the National Tidal Centre $0.3 million).

The Bureau's major asset, 'Infrastructure, Plant and Equipment', is projected to increase by $3.544 million to a total of $201.472 million in 2005-06 due primarily to increased expenditure in the Bureau's capital works programme as outlined above offset by depreciation of the remainder of the asset base. The projected increase in land and buildings from $46.043 million to $52.405 million is associated with investments through the field meteorological office replacement programme.

The Bureau's primary liability continues to be accrued employee entitlements, as a result of accruing leave entitlements, of $55.280 million.

Schedule of Budgeted Revenues and Expenses Administered on behalf of Government

The Bureau will receive administered revenue of $17.1 million in 2005-06, an increase of $1.0 million from the 2004-05 estimated actual. The increase is largely due to recovering additional costs for specialised services provided to the Department of Defence and the aviation industry.

Schedule of Budgeted Assets and Liabilities Administered on behalf of Government

The Bureau's total administered assets are expected to remain stable at $3.0 million for the 2005-06 financial year. The receivable and accrued revenue will be of the same order of magnitude as the 2004-05 estimated actual.

5.2: BUDGETED FINANCIAL STATEMENTS TABLES

TABLE 5.1 - BUDGETED DEPARTMENTAL STATEMENT OF FINANCIAL PERFORMANCE
(for the period ended 30 June 2006)

	Note			Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
						2006-07 $'000	2007-08 $'000	2008-09 $'000
REVENUES FROM ORDINARY ACTIVITIES
Revenues from Government				190,755	206,726	213,275	219,565	223,073
Goods and services				16,702	16,697	16,692	16,692	15,317
Revenue from sale of assets				325	325	325	325	325
Other				215	220	225	225	225
Total revenues from ordinary activities				207,997	223,968	230,517	236,807	238,940
EXPENSES FROM ORDINARY ACTIVITIES (excluding borrowing costs)
Employees				111,201	115,592	118,713	119,702	120,293
Suppliers				56,713	63,723	65,411	68,862	69,542
Depreciation and amortisation				38,588	42,736	44,476	46,270	47,114
Write-down of assets and impairment of assets				1	1	1	1	1
Value of assets sold				325	325	325	325	325
Other				1,169	1,591	1,591	1,647	1,665
Expenses from ordinary activities (excluding borrowing costs expense)				207,997	223,968	230,517	236,807	238,940
Operating Surplus or (deficit) from ordinary activities				-	-	-	-	-
Gain or (loss) on extraordinary items
Net Surplus or (deficit) attributable to the Australian Government				-	-	-	-	-
Net credit or (debit) to asset revaluation reserve			-		-	-	-	-
Total changes in equity other than those resulting from transactions with owners as owners			-		-	-	-	-

 

TABLE 5.2 - BUDGETED DEPARTMENTAL STATEMENT OF FINANCIAL POSITION
(as at 30 June 2006)

	Note	Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
ASSETS
Financial assets
Cash		45	45	45	45	45
Receivables		3,101	3,101	3,101	3,101	3,101
Accrued revenues		379	379	379	379	379
Total financial assets		3,525	3,525	3,525	3,525	3,525
Non-financial assets
Land and buildings		46,043	52,405	58,115	59,803	60,534
Infrastructure, plant and equipment		197,928	201,472	209,235	224,256	230,513
Inventories		9,551	9,551	9,551	9,551	9,551
Intangibles		12,650	10,908	9,166	7,424	5,682
Other non-financial assets		7,317	7,317	7,317	7,317	7,317
Total non-financial assets		273,489	281,653	293,384	308,351	313,597
Total assets		277,014	285,178	296,909	311,876	317,122
LIABILITIES
Provisions
Employees		55,280	55,280	55,280	55,280	55,280
Total provisions		55,280	55,280	55,280	55,280	55,280
Payables
Suppliers		12,703	7,762	2,821	1,080	1,080
Other payables		6,126	6,126	6,126	6,126	6,126
Total payables		18,829	13,888	8,947	7,206	7,206
Total liabilities		74,109	69,168	64,227	62,486	62,486
EQUITY*
Parent entity interest
Contributed equity		160,339	173,444	190,116	206,824	212,070
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 entity interest		202,905	216,010	232,682	249,390	254,636
Total equity		202,905	216,010	232,682	249,390	254,636
Current assets		16,599	16,970	17,435	17,875	17,945
Non-current assets		260,415	268,208	279,474	294,001	299,177
Current liabilities		33,955	31,692	29,427	28,630	28,630
Non-current liabilities		40,154	37,476	34,800	33,856	33,856
*Note: ‘equity’ is the net assets after deduction of liabilities.

 

TABLE 5.3 - BUDGETED DEPARTMENTAL STATEMENT OF CASH FLOWS
(for the period ended 30 June 2006)

OPERATING ACTIVITIES	Note	Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
Cash received
Appropriations		190,755	206,726	213,275	219,565	223,073
Goods and services		18,422	16,697	16,692	16,692	15,317
Other		8,525	8,530	8,535	8,535	8,535
Total cash received		217,702	231,953	238,502	244,792	246,925
Cash Used
Employees		115,285	115,592	118,713	119,702	120,293
Suppliers		52,918	70,255	71,943	72,250	71,207
Other		4,560	4,560	4,560	4,560	4,560
Total cash used		172,763	190,407	195,216	196,512	196,060
Net cash from or (used by) operating activities		44,939	41,546	43,286	48,280	50,865
INVESTING ACTIVITIES
Cash received
Proceeds from sales of property, plant and equipment		325	325	325	325	325
Total cash received		325	325	325	325	325
Cash used
Purchase of property, plant and equipment		54,023	51,225	56,532	61,562	52,685
Other		3,751	3,751	3,751	3,751	3,751
Total cash used		57,774	54,976	60,283	65,313	56,436
Net cash from or (used by) investing activities		(57,449)	(54,651)	(59,958)	(64,988)	(56,111)
FINANCING ACTIVITIES
Cash received
Appropriations - contributed equity		9,400	13,105	16,672	16,708	5,246
Total cash received		9,400	13,105	16,672	16,708	5,246
Net cash from or (used by) financing activities		9,400	13,105	16,672	16,708	5,246
Net increase or (decrease) in cash held		(3,110)	-	-	-	-
Cash at the beginning of the reporting period		3,155	45	45	45	45
Cash at the end of the reporting period		45	45	45	45	45

 

TABLE 5.4 - DEPARTMENTAL CAPITAL BUDGET STATEMENT

	Note	Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
Capital Appropriations
Total equity injections		9,400	13,105	16,672	16,708	5,246
Total loans		-	-	-	-	-
Total capital Appropriations		9,400	13,105	16,672	16,708	5,246
Represented by:
Purchase of non-financial assets		9,400	13,105	16,672	16,708	5,246
Total Represented by		9,400	13,105	16,672	16,708	5,246
Purchase of non-financial assets
Funded by capital appropriation		9,400	13,105	16,672	16,708	5,246
Funded internally by Departmental resources		44,623	38,120	39,860	44,854	47,439
Total		54,023	51,225	56,532	61,562	52,685

 

TABLE 5.5 - DEPARTMENTAL PROPERTY, PLANT, EQUIPMENT AND INTANGIBLES - SUMMARY OF MOVEMENT
(BUDGET YEAR 2005-06)

	Land $'000	Investment Property $’000	Buildings $'000	Other Infrastructure Plant and Equipment $'000	Heritage and cultural assets $'000	Computer Software $'000	Other intangibles $'000	Total $'000
As at 1 July 2005
Gross book value	5,118		46,873	264,786		33,654		350,431
Accumulated depreciation			(5,948)	(66,858)		(21,004)		(93,810)
Opening net book value	5,118	-	40,925	197,928	-	12,650	-	256,621
Additions:
By purchase	268		9,916	37,596		3,445		51,225
By finance lease								-
From acquisitions of entities or operations (including restructuring)								-
Net revaluation increment/decrement								-
Gross Value - Disposals for Cash consideration	(100)		(200)	(35)				(335)
Depreciation/amortisation expense			(3,522)	(34,027)		(5,187)		(42,736)
Acc Depn/Amt - Disposals for Cash consideration				10				10
Other movements								-
Disposals:
From disposal of entities or operations (including restructuring)								-
Other disposals
As at 30 June 2006
Gross book value	5,286		56,589	302,347		37,099		401,321
Accumulated depreciation			(9,470)	(100,875)		(26,191)		(136,536)
Closing net book value	5,286	-	47,119	201,472	-	10,908	-	264,785

 

TABLE 5.6 - SCHEDULE OF BUDGETED REVENUES AND EXPENSES ADMINISTERED ON BEHALF OF GOVERNMENT
(for the period ended 30 June 2006)

	Note	Estimated Actual2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
REVENUES ADMINISTERED ON BEHALF OF GOVERNMENT
Non-taxation (revenue from Government)
Goods and services		16,100	17,050	17,250	17,250	17,250
Total non-taxation		16,100	17,050	17,250	17,250	17,250
Total revenues administered on behalf of Government		16,100	17,050	17,250	17,250	17,250
EXPENSES ADMINISTERED ON BEHALF OF GOVERNMENT
Write down and impairment of assets		25	25	25	25	25
Total expenses administered on behalf of the Government		25	25	25	25	25

 

TABLE 5.7 - SCHEDULE OF BUDGETED ASSETS AND LIABILITIES ADMINISTERED ON BEHALF OF GOVERNMENT
(as at 30 June 2006)

	Note	Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
ASSETS ADMINISTERED ON BEHALF OF GOVERNMENT
Financial assets
Receivables		1,709	1,709	1,709	1,709	1,709
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
Total assets administered on behalf of the Government		2,967	2,967	2,967	2,967	2,967
LIABILITIES ADMINISTERED ON BEHALF OF GOVERNMENT
Payables
Other payables		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 5.8 - SCHEDULE OF BUDGETED ADMINISTERED CASH FLOWS
(for the period ended 30 June 2006)

	Note	Estimated Actual 2004-05 $'000	Budget Estimate 2005-06 $'000	FORWARD ESTIMATES
				2006-07 $'000	2007-08 $'000	2008-09 $'000
OPERATING ACTIVITIES
Cash received
Sales of goods		17,665	18,654	18,854	18,854	18,854
Total cash received		17,665	18,654	18,854	18,854	18,854
Cash used
Cash to Official Public Account		16,075	17,025	17,225	17,225	17,225
Other		1,590	1,629	1,629	1,629	1,629
Total cash used		17,665	18,654	18,854	18,854	18,854
Net cash from/(used by) operating activities		-	-	-	-	-
Net increase or (decrease) in cash held		-	-	-	-	-
Cash at the beginning of the reporting period		-	-	-	-	-
Cash at the end of the reporting period		-	-	-	-	-

TABLE 5.9 - SCHEDULE OF ADMINISTERED CAPITAL BUDGET

The Bureau will not administer any Administered Capital in 2005-06.

TABLE 5.10 - SCHEDULE OF PROPERTY, PLANT, EQUIPMENT AND INTANGIBLES - SUMMARY OF MOVEMENT
(BUDGET YEAR 2005-06)

The Bureau does not administer any non-financial assets on behalf of the Australian Government.

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