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Portfolio budget statements

Portfolio Budget Statements 2006-07

Environment and Heritage Portfolio
Budget initiatives and explanations of appropriations specified by outcomes and outputs by agency
Budget Related Paper No. 1.7
ISBN 1 741 77538 8

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Agency Budget Statements (continued)
Sydney Harbour Federation Trust (continued)

Tables in this section

Section 5: Budgeted financial statements

ANALYSIS OF BUDGETED FINANCIAL STATEMENTS

An analysis of the Sydney Harbour Federation Trust's (the Harbour Trust) budgeted financial statements, as reflected in the Harbour Trust's budgeted departmental financial statements for 2006-07, is provided below.

Budgeted Departmental Income Statement

The Harbour Trust is budgeting for a break even operating result for 2006-07.

The Harbour Trust's revenues from government (annual appropriation) decline over the budget and forward estimate years as the Harbour Trust's properties are progressively remediated and become available for leasing. The reduction in revenue from government for 2006-07 is $1.5 million, while revenues from property leasing (other revenue from ordinary activities) are expected to increase by $1.5 million.

Budgeted Departmental Balance Sheet
The Harbour Trust's major assets are the lands and buildings, which the Harbour Trust holds on behalf of the Commonwealth. The total value increases to $124.7 million in 2006-07 due to the capital cost of the Harbour Trust's projected works programme of $22.0 million.

BUDGETED FINANCIAL STATEMENTS TABLES

Table 5.1: Budgeted departmental income statement for the period ended 30 June
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 3,151 1,619 565 25 26
Goods and services 504 60 60 60 60
Interest 1,338 507 490 493 493
Rents 1,722 3,100 4,600 6,650 7,650
Other 14,752 2,833 1,850 1,297 2,796
Total revenue 21,467 8,119 7,565 8,525 11,025
Total income 21,467 8,119 7,565 8,525 11,025
EXPENSE
Employees 4,175 3,782 3,849 3,874 3,874
Suppliers 14,925 4,299 3,678 3,613 3,613
Depreciation and amortisation 397 38 38 38 38
Total expenses 19,497 8,119 7,565 7,525 7,525
Operating result from continuing operations
Operating result 1,970 - - 1,000 3,500
Net surplus or (deficit) attributable to the Australian Government
1,970 - - 1,000 3,500
Table 5.2: Budgeted departmental balance sheet as at 30 June
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 29,878 18,319 18,384 18,450 15,950
Receivables 14,362 297 300 300 800
Total financial assets 44,240 18,616 18,684 18,750 16,750
Non-financial assets
Land and buildings 61,250 110,686 132,686 154,686 173,186
Infrastructure, plant and equipment 1,016 752 714 676 676
Heritage and cultural assets 14,092 14,004 14,004 14,004 14,004
Inventories - 1,227 1,227 1,227 1,227
Total non-financial assets 76,358 126,669 148,631 170,593 189,093
Total assets 120,598 145,285 167,315 189,343 205,843
LIABILITIES
Provisions
Employees 690 683 711 738 738
Total provisions 690 683 711 738 738
Payables
Suppliers 840 745 747 748 748
Total payables 840 745 747 748 748
Total liabilities 1,530 1,428 1,458 1,486 1,486
EQUITY*
Parent entity interest
Contributed equity 109,485 134,491 156,491 177,491 190,491
Retained surpluses or accumulated deficits 9,583 9,366 9,366 10,366 13,866
Total parent entity interest 119,068 143,857 165,857 187,857 204,357
Total equity 119,068 143,857 165,857 187,857 204,357
Current assets 44,240 19,843 19,911 19,977 17,977
Non-current assets 76,358 125,442 147,404 169,366 187,866
Current liabilities 1,345 1,244 1,273 1,292 1,297
Non-current liabilities 185 184 185 194 189
*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
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 3,150 66 66 66 66
Appropriations 3,151 1,619 566 25 26
Interest 1,338 628 590 593 593
Other 1,320 8,408 8,993 10,491 10,414
Total cash received 8,959 10,721 10,215 11,175 11,109
Cash used
Employees 4,303 3,752 3,848 3,874 3,874
Suppliers 7,526 6,903 6,302 6,235 6,235
Total cash used 11,829 10,655 10,150 10,109 10,109
Net cash from or (used by) operating activities (2,870) 66 65 1,066 1,000
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment 11,700 22,000 22,000 22,000 16,500
Total cash used 11,700 22,000 22,000 22,000 16,500
Net cash from or (used by) investing activities (11,700) (22,000) (22,000) (22,000) (16,500)
FINANCING ACTIVITIES
Cash received
Appropriations - contributed equity 20,500 21,000 22,000 22,000 16,500
Other
Total cash received 20,500 21,000 22,000 22,000 16,500
Cash used
Other - - - 1,000 3,500
Total cash used - - - 1,000 3,500
Net cash from or (used by) financing activities 20,500 21,000 22,000 21,000 13,000
Net increase or (decrease) in cash held 5,931 (934) 65 66 (2,500)
Cash at the beginning of the reporting period 23,947 19,253 18,319 18,384 18,450
Cash at the end of the reporting period 29,878 18,319 18,384 18,450 15,950
Table 5.4: Departmental statement of changes in equity - summary of movement (Budget 2006 07)

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 9,366 - - 113,491 122,857
Adjustment for changes in accounting policies - - - - -
Adjusted opening balance 9,366 - - 113,491 122,857
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
Contribution by owners
Appropriation (equity injection) 21,000 21,000
Sub-total transactions with owners - - - 21,000 21,000
Transfers between equity components - - - - -
Estimated closing balance as at 30 June 2007 9,366 - - 134,491 143,857
Table 5.5: Departmental capital budget statement
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 20,500 21,000 22,000 22,000 16,500
Total capital appropriations 20,500 21,000 22,000 22,000 16,500
Represented by:
Purchase of non-financial assets 11,700 22,000 22,000 22,000 16,500
Other - - - - -
Total represented by 11,700 22,000 22,000 22,000 16,500
PURCHASE OF NON-FINANCIAL ASSETS
Funded by capital appropriation 20,500 21,000 22,000 22,000 16,500
Funded internally by Departmental resources - 1,000 - - -
Total 20,500 22,000 22,000 22,000 16,500
Table 5.6: Departmental property, plants, equipment and intangibles summary of movement (Budget year 2006 07)



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 56,867 - 32,155 - 985 14,004 - - 104,011
Accumulated depreciation - - (336) - (195) - - - (531)
Opening net book value 56,867 - 31,819 - 790 14,004 - - 103,480
Additions:
by purchase 9,500 - 12,500 - - - - - 22,000
by finance lease -
internally developed -
from acquisitions of entities or operations (including restructuring) -
-
Revaluations and impairment through equity -
Reclassifications -
Depreciation/amortisation expense - - - - (38) - - - (38)
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 66,367 - 44,655 - 985 14,004 - - 126,011
Accumulated depreciation - - (336) - (233) - - - (569)
Estimated closing net book value 66,367 - 44,319 - 752 14,004 - - 125,442
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