Publications archive - Annual reports
Key departmental publications, e.g. annual reports, budget papers and program guidelines are available in our online archive.
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Department of the Environment and Heritage, 2003
ISSN 1441 9335
On 12 September 2002 the Bureau of Meteorology was prescribed under the Financial Management and Accountability Act. Departmental assets and liabilities relating to the meteorological function were transferred to the Bureau on this date.
The transfer of the function had a significant impact on both the Department's financial position and financial performance for the year. In terms of the impact on financial position, assets amounting to $237 million and liabilities amounting to $71 million were transferred to the Bureau on that date. In terms of impact on financial performance, reported revenues and expenses for the Department were significantly reduced compared to the previous year, as the Department's operating result included the Bureau's revenues and expenses for part of the 2002-03 year only (1 July to 11 September 2002).
The Department's 2002-03 operating revenues of $337 million exceeded its operating expenses of $308 million, producing a net surplus of $29 million. Apart from the impact of the transfer noted above, the Department's 02-03 revenues were reduced by $3.2m as a result of the cessation of the Government's agency banking incentive scheme, and there was a small reduction in expenses as a result of a number of programs reaching conclusion through the year.
The Department finished the year with total equity of $261 million. Apart from the impact of the transfer noted above, there were no significant movements in the Department's assets and liabilities during the year.
Revenues administered on behalf of the Government in 2002-03 amounted to $12 million, which represented a significant reduction from the previous year. The reduction was due to the transfer of meteorological functions to the Bureau. Expenses administered on behalf of Government amounted to $259 million, which represented a significant reduction from the previous year. The reduction was attributable to the conclusion of Federation Fund programs and a reduction in Natural Heritage Trust activities in the year.
The assets administered on behalf of the Government increased slightly to $124 million in the year, mainly as a consequence of the acquisition of Macquarie Lightstation and Snapper Island. Liabilities administered on behalf of the Government increased to $16 million, mainly a result of an increase in grant liabilities at year-end.