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Portfolio budget statements

Portfolio Budget Statements 2005-06

Environment and Heritage Portfolio
Budget Initiatives and Explanations of Appropriations 2005-06
Budget Related Paper No. 1.7
ISSN 1448-1219 (Online), 1448-1200 (Print)

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Agency Budget Statements (continued)
Great Barrier Reef Marine Park Authority (continued)

Tables in this section

Section 5 - Budgeted Financial Statements

5.1: ANALYSIS OF BUDGETED FINANCIAL STATEMENTS

An analysis of the Great Barrier Reef Marine Park Authority's (GBRMPA) budgeted financial statements, as reflected in the GBRMPA's budgeted departmental financial statements for 2005-06, is provided below.

Budgeted Departmental Statement of Financial Performance

The GBRMPA is budgeting for a break even operating result for 2005-06. Total revenue in 2005-06 is estimated to be $38.045 million, a decrease of $1.266 million from the 2004-05 estimated actual. The decrease is a result of the completion of measures introduced in the 2001-02 Budget for aquaculture and to offset the impact of Environment Management Charge concessions and a reducing level of funding required for education about the new Great Barrier Reef Marine Zoning Plan for the Marine Park.

Total expenses are estimated to be $38.045 million, a decrease of $0.166 million from the 2004-05 estimated actual.

Budgeted Departmental Statement of Financial Position

The GBRMPA's budgeted net asset position is expected to remain unchanged at $14.306 million.

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 23,794 22,844 22,936 23,068 23,237
Goods and services 3,015 3,136 3,165 3,165 3,165
Interest 100 100 100 100 100
Other 12,402 11,965 10,456 4,892 4,938
Total revenues from ordinary activities 39,311 38,045 36,657 31,225 31,440
EXPENSES FROM ORDINARY ACTIVITIES
(excluding borrowing costs expense)		        
Employees 12,506 13,299 13,356 13,289 13,387
Suppliers 14,926 14,084 12,546 7,087 7,158
Depreciation and amortisation 1,030 1,030 1,030 1,030 1,030
Other (day–to–day Management) 9,749 9,632 9,725 9,819 9,865
Total expenses from ordinary activities (excluding borrowing costs expense) 38,211 38,045 36,657 31,225 31,440
Borrowing cost expense - - - - -
Operating Surplus or (deficit) from ordinary activities 1,100 - - - -
Gain or (loss) on extraordinary items - - - - -
Net Surplus or (deficit) attributable to the Australian Government 1,100 - - - -
Net credit or (debit) to asset revaluation reserve - - - - -
Total changes in equity other than those resulting from transactions with owners as owners 1,100 - - - -
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 4,886 5,086 5,986 6,686 7,386
Receivables 2,900 2,900 2,900 2,900 2,900
Other 8 8 8 8 8
Total financial assets 7,794 7,994 8,894 9,594 10,294
Non–financial assets
Land and buildings 11,480 11,762 11,244 10,826 10,408
Infrastructure, plant and equipment 1,571 1,305 1,139 1,023 907
Inventories 100 100 100 100 100
Intangibles 278 232 186 190 194
Other 78 78 78 78 78
Total non–financial assets 13,507 13,477 12,747 12,217 11,687
Total assets 21,301 21,471 21,641 21,811 21,981
LIABILITIES
Provisions
Employees 3,065 3,235 3,405 3,575 3,745
Total provisions 3,065 3,235 3,405 3,575 3,745
Payables
Suppliers 1,270 1,270 1,270 1,270 1,270
Other 2,660 2,660 2,660 2,660 2,660
Total payables 3,930 3,930 3,930 3,930 3,930
Total liabilities 6,995 7,165 7,335 7,505 7,675
EQUITY *
Parent entity interest
Contributed equity 4,204 4,204 4,204 4,204 4,204
Reserves 14,061 14,061 14,061 14,061 14,061
Retained surpluses or accumulated deficits (3,959) (3,959) (3,959) (3,959) (3,959)
Total parent entity interest 14,306 14,306 14,306 14,306 14,306
Total equity 14,306 14,306 14,306 14,306 14,306
Current assets 7,972 8,172 9,072 9,772 10,472
Non–current assets 13,329 13,299 12,569 12,039 11,509
Current liabilities 5,428 5,513 5,598 5,683 5,768
Non–current liabilities 1,567 1,652 1,737 1,822 1,907
*Note: ‘equity’ is the residual interest in assets after deduction of liabilities.  
TABLE 5.3 – BUDGETED DEPARTMENTAL STATEMENT OF CASH FLOWS
(for the period ended 30 June 2006)
Note Estimated
Actual
2004–05		 Budget
Estimate
2005–06
FORWARD
ESTIMATES
2006–07 2007–08 2008–09
OPERATING ACTIVITIES $'000 $'000 $'000 $'000 $'000
Cash received
Appropriations 23,794 22,844 22,936 23,068 23,237
Goods and services 3,015 3,136 3,165 3,165 3,165
Interest 100 100 100 100 100
Other 13,012 12,865 11,356 5,792 5,838
Total cash received 39,921 38,945 37,557 32,125 32,340
Cash used
Employees 12,336 13,129 13,186 13,119 13,217
Suppliers 15,826 14,984 13,446 7,987 8,058
Other 9,749 9,632 9,725 9,819 9,865
Total cash used 37,911 37,745 36,357 30,925 31,140
Net cash from or (used by) operating activities 2,010 1,200 1,200 1,200 1,200
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment 500 1,000 300 500 500
Total cash used 500 1,000 300 500 500
Net cash from or (used by) investing activities (500) (1,000) (300) (500) (500)
Net increase or (decrease) in cash held 1,510 200 900 700 700
Cash at the beginning of the reporting period 3,376 4,886 5,086 5,986 6,686
Cash at the end of the reporting period 4,886 5,086 5,986 6,686 7,386
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 - - - - -
Total loans - - - - -
Total capital appropriations - - - - -
Represented by:
Purchase of non–financial assets - - - - -
Total represented by - - - - -
Purchase of non–financial assets
Funded internally by departmental resources 500 1,000 300 500 500
Total 500 1,000 300 500 500
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 17,553 4,033 769 22,355
Accumulated depreciation (6,073) (2,462) (491) (9,026)
Opening net book value - - 11,480 1,571 - 278 - 13,329
Additions:
By purchase 900 50 50 1,000
By finance lease -
From acquisitions of entities or

operations (including restructuring)		 -
Net revaluation increment/decrement -
Reclassifications -
Depreciation/amortisation expense (618) (316) (96) (1,030)
Recoverable amount write–downs -
Other movements -
Disposals:
From disposal of entities of operations
(including restructuring)		 -
Other disposals -
As at 30 June 2006
Gross book value 18,453 4,083 819 23,355
Accumulated depreciation (6,691) (2,778) (587) (10,056)
Closing net book value - - 11,762 1,305 - 232 - 13,299
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