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Agency Budget Statements (continued)
Great Barrier Reef Marine Park Authority (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 Great Barrier Reef Marine Park Authority's (GBRMPA) budgeted financial statements, as reflected in the GBRMPA's budgeted departmental financial statements for 2006-07, is provided below.

Budgeted Departmental Income Statement

The GBRMPA is budgeting for a break even operating result for 2006-07. Total revenue and expenses in 2006-07 is estimated to be $ 38.1 million, a decrease of $ 1.6 million from the 2005-06 estimated actual. The decrease is primarily a result of a reduction in the level of funding that was initially required for education about the new Zoning Plan for the Marine Park.

Budgeted Departmental Balance Sheet

The GBRMPA's budgeted net asset position is expected to improve through an equity injection of $359,000.

Table 5.1: Budgeted departmental income statement for the period ended 30 June - GBRMPA

	Estimated actual 2005-06 $'000	Budget estimate 2006-07 $'000	Forward estimate 2007-08 $'000	Forward estimate 2008-09 $'000	Forward estimate 2009-10 $'000
INCOME
Revenue
Revenues from Government	22,944	23,658	24,526	24,687	24,301
Goods and services	2,895	3,025	2,950	2,950	2,950
Interest	450	250	250	250	250
Dividends	-	-	-	-	-
Rents	-	-	-	-	-
Royalties	-	-	-	-	-
Other	13,461	11,169	5,292	4,938	4,984
Total revenue	39,750	38,102	33,018	32,825	32,485
Gains
Net foreign exchange gains	-	-	-	-	-
Reversals of previous asset write-downs	-	-	-	-	-
Net gains from sale of assets	-	-	-	-	-
Other	-	-	-	-	-
Total gains	-	-	-	-	-
Total income	39,750	38,102	33,018	32,825	32,485
EXPENSE
Employees	14,771	15,681	15,286	15,582	15,698
Suppliers	15,563	12,898	8,101	7,520	7,003
Grants	-	-	-	-	-
Subsidies	-	-	-	-	-
Depreciation and amortisation	1,030	1,045	1,061	1,061	1,030
Finance costs	-	-	-	-	-
Write-down of assets and impairment of assets
Net losses from sale of assets	-	-	-	-	-
Net foreign exchange losses	-	-	-	-	-
Other	8,386	8,478	8,570	8,662	8,754
Total expenses	39,750	38,102	33,018	32,825	32,485
Share of operating results of associates and joint ventures accounted for using the equity method	-	-	-	-	-
Operating result from continuing operations	-	-	-	-	-
Operating result from discontinued operations	-	-	-	-	-
Gain (loss) on remeasuring discontinued operations	-	-	-	-	-
Operating result
Minority interest in net surplus or (deficit)	-	-	-	-	-
Net surplus or (deficit) attributable to the Australian Government	-	-	-	-	-

Table 5.2: Budgeted departmental balance sheet as at 30 June - GBRMPA

	Estimated actual 2005-06 $'000	Budget estimate 2006-07 $'000	Forward estimate 2007-08 $'000	Forward estimate 2008-09 $'000	Forward estimate 2009-10 $'000
ASSETS
Financial assets
Cash	5,872	6,117	5,801	6,502	7,206
Receivables	2,900	2,900	2,630	2,465	2,254
Investments accounted for under the equity method
Investments (s.39 FMA Act; s.18 CAC Act; s.19 CAC Act)
Other investments
Tax assets
Accrued revenues
Other	15	15	15	15	15
Total financial assets	8,787	9,032	8,446	8,982	9,475
Non-financial assets
Land and buildings	12,574	12,056	12,638	12,220	11,802
Infrastructure, plant and equipment	2,117	2,145	2,023	1,901	1,785
Investment properties
Heritage and cultural assets
Inventories	70	70	70	70	70
Intangibles	615	919	923	927	931
Biological assets
Assets held for sale
Other	100	100	100	100	100
Total non-financial assets	15,476	15,290	15,754	15,218	14,688
Total assets	24,263	24,322	24,200	24,200	24,163
LIABILITIES
Interest bearing liabilities
Loans	-	-	-	-	-
Leases	-	-	-	-	-
Deposits	-	-	-	-	-
Overdraft	-	-	-	-	-
Other	-	-	-	-	-
Total interest bearing liabilities	-	-	-	-	-
Provisions
Employees	3,454	3,655	3,855	4,055	4,255
Other	-	-	-	-	-
Total provisions	3,454	3,655	3,855	4,055	4,255
Payables
Suppliers	1,000	1,000	1,000	1,000	1,000
Grants	-
Dividends	-
Finance costs	-
Other	3,413	2,912	2,565	2,340	2,103
Total payables	4,413	3,912	3,565	3,340	3,103
Liabilities included in disposal groups held for sale	-	-	-	-	-
Total liabilities	7,867	7,567	7,420	7,395	7,358
EQUITY*
Parent entity interest
Contributed equity	4,204	4,563	4,588	4,613	4,613
Reserves	15,911	15,911	15,911	15,911	15,911
Statutory funds	-	-	-	-	-
Retained surpluses or accumulated deficits	(3,719)	(3,719)	(3,719)	(3,719)	(3,719)
Total parent entity interest	16,396	16,755	16,780	16,805	16,805
Minority interest
Contributed equity	-	-	-	-	-
Reserves	-	-	-	-	-
Statutory funds	-	-	-	-	-
Retained surpluses or accumulated deficits	-	-	-	-	-
Total minority interest	-	-	-	-	-
Total equity	16,396	16,755	16,780	16,805	16,805
Current assets	8,957	9,202	8,616	9,152	9,645
Non-current assets	15,306	15,120	15,584	15,048	14,518
Current liabilities	6,077	5,692	5,460	5,350	5,228
Non-current liabilities	1,790	1,875	1,960	2,045	2,130
*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 - GBRMPA

	Estimated actual 2005-06 $'000	Budget estimate 2006-07 $'000	Forward estimate 2007-08 $'000	Forward estimate 2008-09 $'000	Forward estimate 2009-10 $'000
OPERATING ACTIVITIES
Cash received
Goods and services	3,172	2,950	2,950	2,950	2,950
Appropriations	22,944	23,658	24,526	24,687	24,301
Interest	450	250	250	250	250
Dividends	-	-	-	-	-
Other	13,458	11,894	5,852	5,458	5,484
Total cash received	40,024	38,752	33,578	33,345	32,985
Cash used
Employees	14,521	15,431	15,036	15,332	15,448
Suppliers	16,994	14,098	8,788	8,150	7,579
Grants	-	-	-	-	-
Financing costs	-	-	-	-	-
Other	8,211	8,478	8,570	8,662	8,754
Total cash used	39,726	38,007	32,394	32,144	31,781
Net cash from or (used by) operating activities	298	745	1,184	1,201	1,204
INVESTING ACTIVITIES
Cash received
Proceeds from sales of property, plant and equipment	-	-	-	-	-
Proceeds from sales of financial instruments	-	-	-	-	-
Bills of exchange and promissory notes	-	-	-	-	-
Repayments of loans made	-	-	-	-	-
Investments (s.39 FMA Act; s.18 CAC Act; s.19 CAC Act)	-	-	-	-	-
Other	-	-	-	-	-
Total cash received	-	-	-	-	-
Cash used
Purchase of property, plant and equipment	1,200	859	1,525	525	500
Purchase of financial instruments	-	-	-	-	-
Bills of exchange and promissory notes	-	-	-	-	-
Loans made	-	-	-	-	-
Investments (s.39 FMA Act; s.18 CAC Act; s.19 CAC Act)	-	-	-	-	-
Other	-	-	-	-	-
Total cash used	(1,200)	(859)	(1,525)	(525)	(500)
Net cash from or (used by) investing activities	(1,200)	(859)	(1,525)	(525)	(500)
FINANCING ACTIVITIES
Cash received
Appropriations - contributed equity	-	359	25	25	-
Proceeds from issuing financial instruments	-	-	-	-	-
Proceeds from loans	-	-	-	-	-
Other
Total cash received	-	359	25	25	-
Cash used
Repayments of debt	-	-	-	-	-
Dividends paid	-	-	-	-	-
Other
Total cash used	-	-	-	-	-
Net cash from or (used by) financing activities	-	359	25	25	-
Net increase or (decrease) in cash held	(902)	245	(316)	701	704
Cash at the beginning of the reporting period	6,774	5,872	6,117	5,801	6,502
Effect of exchange rate movements on cash at the beginning of reporting period	-	-	-	-	-
Cash at the end of the reporting period	5,872	6,117	5,801	6,502	7,206

Table 5.4: Departmental statement of changes in equity - summary of movement (Budget 2006-07) - GBRMPA

	Accumulated results $'000	Asset revaluation reserve $'000	Other reserves $'000	Contributed equity/ capital $'000	Total equity $'000
Opening balance as at 1 July 2006
Balance carried forward from previous period	(3,719)	7,335	8,576	4,204	16,396
Adjustment for changes in accounting policies	-	-	-	-	-
Adjusted opening balance	(3,719)	7,335	8,576	4,204	16,396
Income and expense
Income and expenses recognised directly in equity:	-	-	-	-	-
Gain/loss on revaluation of property	-	-	-	-	-
Sub-total income and expense	-	-	-	-	-
Net operating result	-	-	-	-	-
Total income and expenses recognised directly in equity	-	-	-	-	-
Transactions with owners
Distribution to owners
Returns on capital : Dividends	-	-	-	-	-
Returns of capital : Restructuring	-	-	-	-	-
Other	-	-	-	-	-
Contribution by owners
Appropriation (equity injection)	-	-	-	359	359
Other : Restructuring	-	-	-	-	-
Sub-total transactions with owners	-	-	-	359	359
Transfers between equity components	-	-	-	-	-
Estimated closing balance as at 30 June 2007	(3,719)	7,335	8,576	4,563	16,755

Table 5.5: Departmental capital budget statement - GBRMPA

	Estimated actual 2005-06 $'000	Budget estimate 2006-07 $'000	Forward estimate 2007-08 $'000	Forward estimate 2008-09 $'000	Forward estimate 2009-10 $'000
CAPITAL APPROPRIATIONS
Total equity injections	-	359	25	25	-
Total loans	-	-	-	-	-
Total capital appropriations	-	359	25	25	-
Represented by:
Purchase of non-financial assets	-	359	25	25	-
Other	-	-	-	-	-
Total represented by	-	359	25	25	-
PURCHASE OF NON-FINANCIAL ASSETS
Funded by capital appropriation	-	359	25	25	-
Funded internally by Departmental resources	1,200	500	1,500	500	500
Total	1,200	859	1,525	525	500

Table 5.6: Departmental property, plants, equipment and intangibles - summary of movement (Budget year 2006-07) - GBRMPA

	Land $'000	Investment property $'000	Buildings $'000	Specialist military equipment $'000	Other infrastructure plant and equipment $'000	Heritage and cultural assets $'000	Computer software $'000	Other intangibles $'000	Total $'000
As at 1 July 2006
Gross book value	-	-	19,266	-	4,828	-	1,176	-	25,270
Accumulated depreciation	-	-	(6,692)	-	(2,711)	-	(561)	-	(9,964)
Opening net book value	-	-	12,574	-	2,117	-	615	-	15,306
Additions:
by purchase	-	-	100	-	359	-	400	-	859
by finance lease	-	-	-	-	-	-	-	-	-
internally developed	-	-	-	-	-	-	-	-	-
from acquisitions of entities or operations (including restructuring)	-	-	-	-	-	-	-	-	-
Revaluations and impairment through equity	-	-	-	-	-	-	-	-	-
Reclassifications	-	-	-	-	-	-	-	-	-
Depreciation/amortisation expense	-	-	(618)	-	(331)	-	(96)	-	(1,045)
Impairments recognised in operating result	-	-	-	-	-	-	-	-	-
Other movements	-	-	-	-	-	-	-	-	-
Disposals:									-
from disposal of entities or operations (including restructuring)	-	-	-	-	-	-	-	-	-
other disposals	-	-	-	-	-	-	-	-	-
As at 30 June 2007									-
Gross book value	-	-	19,366	-	5,187	-	1,576	-	26,129
Accumulated depreciation	-	-	(7,310)	-	(3,042)	-	(657)	-	(11,009)
Estimated closing net book value	-	-	12,056	-	2,145	-	919	-	15,120

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