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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Much of the material listed on these archived web pages has been superseded, or served a particular purpose at a particular time.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)
National Oceans Office (continued)

Section 3 - Budgeted Financial Statements

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

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the National Oceans Office. It helps decision makers to track the management of the National Oceans Office'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   9,066 9,093 9,093    
Sales of goods and services   0 0 0    
Interest   0 0 0    
Other   16 16 16    
Total revenues from ordinary activities   9,082 9,109 9,109    
             
EXPENSES FROM ORDINARY            
ACTIVITIES (excluding borrowing costs expense)          
Employees   2,620 3,097 3,197    
Suppliers   6,334 5,892 5,850    
Grants   0 0 0    
Depreciation and amortisation   128 120 62    
Total expenses from ordinary activities (excluding borrowing costs expense)   9,082 9,109 9,109    
Borrowing cost expense   0 0 0    
Net Surplus or (deficit) from ordinary activities   0 0 0    
Gain or loss on extraordinary items   0 0 0    
Net Surplus or (deficit)   0 0 0      
Net Surplus or (deficit) attributable to the Commonwealth   0 0 0    
Net credit (debit) to asset revaluation reserve   0 0 0    
Total revenues, expenses and valuation adjustments attributable to members of the parent entity and recognised directly in equity   0 0 0    

TABLE 3.2 BUDGETED DEPARTMENTAL STATEMENT OF FINANCIAL POSITION
(as at 30 June 2004)
    Estimated Budget FORWARD
    Actual Estimate ESTIMATES
    2002-03 2003-04 2004-05 2005-06 2006-07
    $'000 $'000 $'000 $'000 $'000
ASSETS            
Financial Assets            
Cash   2,547 2,696 2,787    
Receivables   43 43 43    
Accrued revenues   0 0 0    
Other            
Total financial assets   2,590 2,739 2,830    
             
Non-financial assets            
Land and buildings   24 0      
Infrastructure, plant and equipment   158 62      
Total Non-financial assets   182 62 0    
             
Total Assets   2,772 2,801 2,830    
             
LIABILITIES            
Interest bearing liabilities            
Loans   0 0 0    
Other   0 0 0    
Total debt   0 0 0    
             
Provisions            
Employees   257 286 315    
Other   0 0 0    
    257 286 315    
Payables            
Suppliers   0 0 0    
Grants   0 0 0    
Other   0 0 0    
Total Payables   0 0 0    
             
Total Payables   0 0 0    
             
Total Liabilities   257 286 315    
             
EQUITY            
Parent entity Interest            
Contributed equity   0 0 0    
Reserves   0 0 0    
Statutory funds   0 0 0    
Retained surpluses or accumulated deficits   2,515 2,515 2,515    
Total parent entity interest   2,515 2,515 2,515    
             
Total equity   2,515 2,515 2,515    
             
             
Total assets and liabilities by maturity            
Current liabilities   141 157 173    
Non-current liabilities   116 129 142    
Current assets   2,590 2,739 2,830    
Non-current assets   182 62 0    

TABLE 3.3 BUDGETED DEPARTMENTAL STATEMENT OF CASH FLOWS
(for the period ended 30 June 2004)
    Estimated 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   9,066 9,093 9,093    
Other   574 534 530    
Total cash received   9,640 9,627 9,623    
             
Cash Used            
Employees   2,495 3,068 3,168    
Suppliers   6,318 5,876 5,834    
Other   574 534 530    
Total cash used   9,387 9,478 9,532    
             
Net cash from operating activities   253 149 91    
             
INVESTING ACTIVITIES            
Cash Received            
Proceeds from sale of property, plant   0 0 0    
and equipment            
Total Cash Received   0 0 0    
             
Cash used            
Purchase of property, plant and equipment   55 0 0    
Other   0 0 0    
Total cash used   55 0 0    
             
NET CASH FROM INVESTING ACTIVITIES   (55) 0 0    
             
FINANCING ACTIVITIES            
             
Cash Received            
Proceeds from debt   0 0 0    
Proceeds from issuing equity instruments   0 0 0    
Total Cash Received   0 0 0    
             
Cash Used            
Repayment of debt   0 0 0    
Capital use charge paid   0 0 0    
Dividends paid   0 0 0    
Total Cash Used   0 0 0    
             
NET CASH FROM FINANCING ACTIVITIES   0 0 0    
             
Net increase/decrease in cash held   198 149 91    
             
Cash at the beginning of the reporting period   2,349 2,547 2,696    
Cash at the end of the reporting period   2,547 2,696 2,787    

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            
Total loans            
             
Represented by:            
Purchase of non-current assets            
Other            
             
Purchase of non-current assets            
Funded by capital appropriations            
Funded internally by departmental resources   55        

TABLE 3.5 DEPARTMENTAL NON-FINANCIAL ASSETS
SUMMARY OF MOVEMENT
(BUDGET YEAR 2003-04)
        Other        
      Specialist Infrastruc 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
 
24
 
158
 
 
 
182
Additions                
Disposals                
Revaluation Increments                
Recoverable Amount Write-Downs                
Net Transfers free of Charge                
Depreciation/Amortisation Expense   24   96       120
Write-off of Assets                
Carrying amount at the end of the year
 
0
 
62
 
 
 
62

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 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.