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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Much of the material listed on these archived web pages has been superseded, or served a particular purpose at a particular time.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 Budget Statements 2003-2004

Environment and Heritage Portfolio
Budget Initiatives and Explanations of Appropriations 2003-2004
Budget Related Paper No. 1.7
Commonwealth of Australia 2003
ISSN 1448 - 1219 (Online), 1448 - 1200 (Print)

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

Section 3 - Budgeted Financial Statements

The budgeted departmental financial statements for the (GBRMPA) are presented in this section. Information from the budgeted financial statements, forms part of the financial statements that will appear in the GBRMPA's 2003-04 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 GBRMPA by identifying full accrual expenses, revenues and capital use charge (in 2002-03 only), which highlights whether the GBRMPA is operating at a sustainable level.

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the GBRMPA. It helps decision makers to track the management of the GBRMPA'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)
    Estimated 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 2 24,069 22,747 23,052 23,052 23,211
Sales of goods and services 3 5,169 3,088 3,270 3,476 3,525
Interest   115 100 100 100 100
Other 4 4,564 4,627 4,720 4,819 4,870
Total revenues from ordinary activities   33,917 30,562 31,142 31,447 31,706
             
EXPENSES FROM ORDINARY            
ACTIVITIES (excluding borrowing costs expense)          
Employees   11,555 11,927 12,277 12,627 12,877
Suppliers   10,875 8,319 8,360 8,115 8,023
Grants   0 0 0 0 0
Depreciation and amortisation   1,003 1,030 1,030 1,030 1,030
Other (Day-to-day Management) 4 9,196 9,286 9,475 9,675 9,776
Total expenses from ordinary activities
(excluding borrowing costs expense)
  32,629 30,562 31,142 31,447 31,706
Borrowing cost expense   21 0 0 0 0
Net Surplus or (deficit) from ordinary
activities
5 1,267 0 0 0 0
Gain or loss on extraordinary items   0 0 0 0 0
Net Surplus or (deficit)   1,267 0 0 0 0
Capital Use Charge Paid 1(c) (1,267) 0 0 0 0
Net Surplus or (deficit) after CUC   0 0 0 0 0
Net Surplus or Deficit attributable to the
Commonwealth
  0 0 0 0 0
Total revenues, expenses and valuation
adjustments attributable to members of
the parent entity and recognised directly
in equity
  0 0 0 0 0

TABLE 3.2 BUDGETED DEPARTMENTAL STATEMENT OF FINANCIAL POSITION
(as at 30 June 2004)
    Estimated Budget
FORWARD
    Actual Estimate
ESTIMATES
  Note 2002-03 2003-04 2004-05 2005-06 2006-07
    $'000 $'000 $'000 $'000 $'000
ASSETS            
Financial Assets            
Cash   1,899 2,583 3,283 3,483 4,383
Receivables 6 2,684 2,700 2,700 2,700 2,700
Other   19 19 19 19 19
Total financial assets   4,602 5,302 6,002 6,202 7,102
             
Non-financial assets            
Land and buildings   11,149 10,531 10,163 10,445 9,927
Infrastructure, plant and equipment   1,198 1,306 1,144 832 620
Inventories   120 120 120 120 120
Intangibles   78 58 58 58 58
Other   78 78 78 78 78
Total Non-financial assets   12,623 12,093 11,563 11,533 10,803
             
Total Assets   17,225 17,395 17,565 17,735 17,905
             
LIABILITIES            
Interest bearing liabilities            
Loans   0 0 0 0 0
Total interest bearing liabilities   0 0 0 0 0
             
Provisions            
Employees   3,003 3,203 3,373 3,543 3,713
Total Provisions   3,003 3,203 3,373 3,543 3,713
             
Payables            
Suppliers   1,000 1,000 1,000 1,000 1,000
Other   658 658 658 658 658
Total Payables   4,691 4,861 5,031 5,201 5,371
             
Total Liabilities   4,691 4,861 5,031 5,201 5,371
             
EQUITY            
Parent entity Interest            
Contributed equity   4,204 4,204 4,204 4,204 4,204
Reserves   12,146 12,146 12,146 12,146 12,146
Statutory funds   0 0 0 0 0
Retained surpluses or accumulated deficits   (3,816) (3,816) (3,816) (3,816) (3,816)
Total parent entity interest   12,534 12,534 12,534 12,534 12,534
             
Total equity   12,534 12,534 12,534 12,534 12,534
             
             
Total assets and liabilities by maturity            
Current liabilities   3,291 3,376 3,461 3,546 3,631
Non-current liabilities   1,400 1,485 1,570 1,655 1,740
Current assets   4,800 5,500 6,200 6,400 7,300
Non-current assets   12,425 11,895 11,365 11,335 10,605

TABLE 3.3 BUDGETED DEPARTMENTAL STATEMENT OF CASH FLOWS
(for the period ended 30 June 2004)
    Estimated Budget
FORWARD
    Actual Estimate
ESTIMATES
  Note 2002-03 2003-04 2004-05 2005-06 2006-07
OPERATING ACTIVITIES   $'000 $'000 $'000 $'000 $'000
Cash received            
Appropriations for outputs   24,069 22,747 23,052 23,052 23,211
Sales of goods and services   5,432 3,372 3,570 3,776 3,825
Interest   115 100 100 100 100
Other   5,164 5,227 5,320 5,419 5,470
Total cash received   34,780 31,446 32,042 32,347 32,606
             
Cash Used            
Employees   11,385 11,757 12,107 12,457 12,707
Suppliers   14,050 9,219 9,260 9,015 8,923
Interest   21 0 0 0 0
Other   9,196 9,286 9,475 9,675 9,776
Total cash used   34,652 30,262 30,842 31,147 31,406
             
Net cash from operating activities   128 1,184 1,200 1,200 1,200
             
INVESTING ACTIVITIES            
Cash Received            
Proceeds from sale of property, plant            
and equipment   0 0 0 0 0
Total Cash Received   0 0 0 0 0
             
Cash used            
Purchase of property, plant and equipment 7 1,924 500 500 1,000 300
Total cash used   1,924 500 500 1,000 300
             
NET CASH FROM INVESTING ACTIVITIES   (1,924) (500) (500) (1,000) (300)
             
FINANCING ACTIVITIES            
             
Cash Received            
Proceeds from debt   0 0 0 0 0
Total Cash Received   0 0 0 0 0
             
Cash Used            
Repayment of debt   354 0 0 0 0
Capital use charge paid   1,394 0 0 0 0
Total Cash Used   1,748 0 0 0 0
             
NET CASH FROM FINANCING ACTIVITIES   (1,748) 0 0 0 0
             
Net increase/decrease in cash held   (3,544) 684 700 200 900
             
Cash at the beginning of the reporting period   5,443 1,899 2,583 3,283 3,483
Cash at the end of the reporting period   1,899 2,583 3,283 3,483 4,383

TABLE 3.4 DEPARTMENTAL CAPITAL BUDGET STATEMENT
    Estimated Budget      
    Actual Estimate
ESTIMATED
    2002-03 2003-04 2004-05 2005-06 2006-07
    $'000 $'000 $'000 $'000 $'000
Capital appropriations            
Total equity injections            
             
Represented by:            
Purchase of non-current assets            
             
Purchase of non-current assets            
Funded by capital appropriations            
Funded internally by departmental resources   1,924 500 500 1,000 300

TABLE 3.5 DEPARTMENTAL NON-FINANCIAL ASSETS
SUMMARY OF MOVEMENT (BUDGET YEAR 2003-04)
        Other        
      Specialist Infrastructure Heritage      
      Military Plant and 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 0 11,149 0 1,198 0 78 0 12,425
Additions *       500       500
Disposals                
Revaluation Increments                
Recoverable Amount Write-Downs                
Net Transfers free of Charge                
Depreciation/Amortisation Expense   618 0 392 0 20 0 1,030
Write-off of Assets                
Carrying amount at the end of the year 0 10,531 0 1,306 0 58 0 11,895
                 
* TOTAL ADDITIONS
Self funded       500       500
Appropriations                
TOTAL       500       500

Notes to the 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 has agreed to discontinue 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 (CAC) 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.

2. Revenues from Government

The variation in appropriation from 2002-03 to 2003-04 is due primarily to discontinuation of the Capital Use Charge.

3. Sales of Goods and Services

Includes revenue from Reef HQ. Revenue from developer funded monitoring is estimated to decrease from 2002-03 levels.

4. Other Revenue/Expenses

Principles agreed between the Commonwealth and Queensland government relating to day-to-day management of the Great Barrier Reef Marine Park provide for Queensland Government agencies to carry out day-to-day management subject to the GBRMPA's requirements with the programme which is jointly funded by both Governments.

5. Net surplus

The Budget estimate for 2003-04 is for a balanced result from ordinary activities.

6. Receivables

The major component of receivables is the Special Appropriation received by the Authority under the legislation for collection of the Environmental Management Charge (EMC). Amounts collected by the Authority are paid into the Official Public Account and then paid back to the Authority as a Special Appropriation. Receivables are for the amount of the EMC applicable to a particular financial year but received after 30 June of that year.

7. Capital

Capital works continued in 2002-03 on the refurbishment of Reef HQ. The facility re-opened on 31 July 2002.