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Publications archive - Budget statements

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Key departmental publications, e.g. annual reports, budget papers and program guidelines are available in our online archive.

Much of the material listed on these archived web pages has been superseded, or served a particular purpose at a particular time. It may contain references to activities or policies that have no current application. Many archived documents may link to web pages that have moved or no longer exist, or may refer to other documents that are no longer available.

Portfolio Additional Estimates Statements 2003-2004

Environment and Heritage Portfolio
Explanation of Additional Estimates 2003-2004
Commonwealth of Australia 2004
ISSN 1448-9058

Part C - Agency Additional Estimates Statements (continued)
Sydney Harbour Federation Trust (continued)

Section 3 - Budgeted Financial Statements

The budgeted departmental financial statements for the Sydney Harbour Federation Trust are presented in this section. Information from the budgeted financial statements, forms part of the financial statements that will appear in the Sydney Harbour Federation Trust's 2003-2004 Annual Report, and is also required as input into the Whole of Government Accounts.

Budgeted Departmental Statement of Financial Performance

This statement provides a picture of the expected financial results for the Sydney Harbour Federation Trust by identifying full accrual expenses and revenues, and highlights whether the Sydney Harbour Federation Trust is operating at a sustainable level.

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the Sydney Harbour Federation Trust. It helps decision makers to track the management of the Sydney Harbour Federation Trust's assets and liabilities.

Budgeted Departmental Statement of Cash Flows

Budgeted cash flows, as reflected in the statement of cash flows, provide important information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities.

Departmental Capital Budget Statement

Shows all planned capital expenditure (capital expenditure on non-financial assets), whether funded either through capital appropriations for additional equity or borrowings, or from funds from internal sources.

Departmental Non-financial Assets - Summary of Movement

Shows budgeted acquisitions and disposals of non-financial assets during the budget year.

 

Table 3.1 - Budgeted Departmental Statement of Financial Performance (for the period ended 30 June 2004)
      Revised
Budget
FORWARD
    Actual Estimate ESTIMATES
  Note 2002-03 2003-04 2004-05 2005-06 2006-07
    $'000 $'000 $'000 $'000 $'000
             
REVENUES FROM ORDINARY ACTIVITIES            
Revenues from Government   10,730 6,027 5,022 3,022 1,522
Sales of goods and services   4,737 2,480 3,480 4,980 6,480
Interest   91 20 20 20 20
Other   0        
Total revenues from ordinary activities   15,558 8,527 8,522 8,022 8,022
             
EXPENSES FROM ORDINARY            
ACTIVITIES (excluding borrowing costs expense)            
Employees   2,465 2,831 2,887 2,934 2,934
Suppliers   9,439 5,658 5,597 5,050 5,050
Grants   0 0 0 0 0
Depreciation and amortisation   454 38 38 38 38
Total expenses from ordinary activities (excluding borrowing costs expense)   12,358 8,527 8,522 8,022 8,022
Borrowing cost expense   0 0 0 0 0
Net Surplus or (deficit) from ordinary activities   3,200 0 0 0 0
Gain or loss on extraordinary items   0 0 0 0 0
Net Surplus or (deficit)   3,200 0 0 0 0
Capital Use Charge (CUC) 1(c) (180) 0 0 0 0
Net Surplus or (deficit) attributable to the Commonwealth   3,200 0 0 0 0

 

Table 3.2 - Budgeted Departmental Statement of Financial Position (as at 30 June 2004)
      Revised
Budget
FORWARD
    Actual Estimate ESTIMATES
    2002-03 2003-04 2004-05 2005-06 2006-07
    $'000 $'000 $'000 $'000 $'000
ASSETS            
Financial Assets            
Cash   4,401 4,340 4,421 4,489 4,555
Receivables   198 202 264 293 297
Accrued revenues   0 0 0 0 0
Other   0 0 0 0 0
Total financial assets   4,599 4,542 4,685 4,782 4,852
             
Non-financial assets            
Land and buildings   37,933 46,933 63,433 83,933 104,933
Infrastructure, plant and equipment   721 683 644 605 567
Inventories   20,956 11,040 22 22 22
Total Non-financial assets   59,610 58,656 64,099 84,560 105,522
             
Total Assets   64,209 63,198 68,784 89,342 110,374
             
LIABILITIES            
Interest bearing liabilities            
Loans   0 0 0 0 0
Other   0 0 0 0 0
Total debt   0 0 0 0 0
             
Provisions            
Employees   440 468 496 523 550
Other   180 0 0 0 0
Total Provisions   620 468 496 523 550
             
Payables            
Suppliers   372 429 505 536 541
Grants   0 0 0 0 0
Other   21 21 21 21 21
Total Payables   393 450 526 557 562
             
Total Liabilities   1,013 918 1,022 1,080 1,112
             
EQUITY            
Parent entity Interest            
Contributed equity   58,420 57,504 62,986 83,486 104,486
Reserves   0 0 0 0 0
Statutory funds   0 0 0 0 0
Retained surpluses or accumulated deficits   4,776 4,776 4,776 4,776 4,776
Total parent entity interest   63,196 62,280 67,762 88,262 109,262
             
Total equity   63,196 62,280 67,762 88,262 109,262
             
             
Total assets and liabilities by maturity            
Current liabilities   964 841 819 948 953
Non-current liabilities   49 77 105 132 159
Current assets   14,505 15,582 4,707 4,804 4,874
Non-current assets   49,704 47,616 64,077 84,538 105,500

 

Table 3.3 - Budgeted Departmental Statement of Cash Flows (for the period ended 30 June 2004)
     

Revised
Budget

FORWARD
   

Actual

Estimate

ESTIMATES

   

2002-03

2003-04

2004-05

2005-06

2006-07

OPERATING ACTIVITIES

 

$'000

$'000

$'000

$'000

$'000

Cash received

           

Appropriations for outputs

 

10,500

6,027

5,022

3,022

1,522

Other

 

5,934

3,965

5,651

7,530

9,105

Total cash received

 

16,434

9,992

10,673

10,552

10,627

             

Cash Used

           

Employees

 

2,314

2,803

2,859

2,907

2,907

Suppliers

 

9,874

7,070

7,733

7,577

7,654

Other

 

0

0

0

0

0

Total cash used

 

12,188

9,873

10,592

10,484

10,561

             

Net cash from operating activities

 

4,246

119

81

68

66

             

INVESTING ACTIVITIES

           

Cash Received

           

Proceeds from sale of property, plant

 

0

0

0

0

0

and equipment

 

 

       

Total Cash Received

 

0

0

0

0

0

             

Cash used

           

Purchase of property, plant and equipment

 

120

9,000

16,500

20,500

21,000

Other

 

0

       

Total cash used

 

120

9,000

16,500

20,500

21,000

             

NET CASH FROM INVESTING ACTIVITIES

 

(120)

(9,000)

(16,500)

(20,500)

(21,000)

             
FINANCING ACTIVITIES            
             
Cash Received            
Proceeds from debt   0 0 0 0 0
Proceeds from issuing equity instruments   0 9,000 16,500 20,500 21,000
Total Cash Received   0 9,000 16,500 20,500 21,000
             

Cash Used

 

0

0

0

0

0

Repayment of debt

 

0

0

0

0

0

Capital use charge paid

 

0

0

0

0

0

Dividends paid

 

0

0

0

0

0

Total Cash Used

 

0

0

0

0

0

             

NET CASH FROM FINANCING ACTIVITIES

  0 9,000 16,500

20,500

21,000

             

Net increase/decrease in cash held

 

4,126

119

81

68

66

             

Cash at the beginning of the reporting period

 

275

97

216

297

365

Cash at the end of the reporting period

 

4,401

216

297

365

431

 

Table 3.4 - Departmental Capital Budget Statement
     

Revised
Budget

FORWARD

   

Actual

Estimate

ESTIMATES

   

2002-03

2003-04

2004-05

2005-06

2006-07

   

$'000

$'000

$'000

$'000

$'000

Capital appropriations

           

Total equity injections

   

9,000

16,500

20,500

21,000

Total loans

           
             

Represented by:

           

Purchase of non-current assets

   

9,000

16,500

20,500

21,000

Other

           
             

Purchase of non-current assets

           

Funded by capital appropriations

   

9,000

16,500

20,500

21,000

Funded internally by departmental resources

 

120

       

 

Table 3.5 - Departmental Non-financial Assets - Summary of Movement (Budget Year 2003-04)
       

Other

Heritage
     
     

Specialist

Infrastruc

and

     
     

Military

Plant and

cultural

Computer

Other

 
 

Land

Buildings

Equipment

Equipment

assets

software

intangibles

Total

 

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Carrying amount at the start of the year

21,261

16,672

 

721

     

38,654

Additions

 

9,000

         

9,000

Disposals

               

Revaluation Increments

               

Recoverable Amount Write-Downs

               

Net Transfers free of Charge

               

Depreciation/Amortisation Expense

 

1,453

 

38

     

38

Write-off of Assets

               

Carrying amount at the end of the year

21,261

25,672

 

683

     

47,616

                 
* TOTAL ADDITIONS                

Self funded

               

Appropriations

 

9,000

       

 

9,000

TOTAL

 

9,000

       

 

9,000

 

Notes to Financial Statements

1. General notes on accrual budgeting framework
(a) Departmental Financial Statements and Notes of Administered Items

Under the Commonwealth’s accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (departmental transactions) are separately budgeted for and reported on from transactions over which agencies do not have control (administered transactions). This ensures that agencies are only held fully accountable for the transactions over which they have control.

(b) Appropriations in the Accrual Budgeting Framework

Under the Commonwealth’s accrual budgeting framework, separate annual appropriations are provided for:

Special appropriations exist under the accrual appropriation framework, and fund the majority of payments from the Consolidated Revenue Fund.

(c) Capital Use Charge

The Government discontinued the Capital Use Charge from 1 July 2003.

(d) Administered investments in controlled entities

Each Commonwealth Department is required to show an administered investment in each Commonwealth Authority and Company Act entity within their portfolio. These administered investments should be valued at the Commonwealth’s ownership interest in the net assets of those CAC entities, fixed at a notional acquisition date of 30 June 1997.

(e) Asset Valuation

From 1 July 2002 Commonwealth agencies and authorities are required to use either the cost basis or the fair value basis to measure property, plant and equipment. The shift from the deprival method of valuation to fair value should occur gradually over a three-year period. Fair value essentially reflects the current market value of an asset. See guidance from the Department of Finance and Administration on how to calculate fair value.