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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Much of the material listed on these archived web pages has been superseded, or served a particular purpose at a particular time.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)
Sydney Harbour Federation Trust (continued)

Section 3 - Budgeted Financial Statements

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, revenues and capital use charge (for 2002-03 only), which 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 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)
    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   10,500 6,000 5,000 3,000 1,500
Sales of goods and services   80 60 60 60 60
Interest   20 20 20 20 20
Other   1,300 2,420 3,420 4,920 6,420
Total revenues from ordinary activities   11,900 8,500 8,500 8,000 8,000
             
EXPENSES FROM ORDINARY            
ACTIVITIES (excluding borrowing costs expense)          
Employees   2,521 2,809 2,865 2,912 2,912
Suppliers   5,655 5,653 5,597 5,050 5,050
Depreciation and amortisation   70 38 38 38 38
Total expenses from ordinary activities (excluding borrowing costs expense)   8,246 8,500 8,500 8,000 8,000
Borrowing cost expense   0 0 0 0 0
Net Surplus or (deficit) from ordinary activities   3,654 0 0 0 0
Gain or loss on extraordinary items   0 0 0 0 0
Net Surplus or (deficit)   3,654 0 0 0 0
Capital Use Charge (CUC) 1(c) (241) 0 0 0 0
Net surplus or (deficit) after CUC   3,413 0 0 0 0
Net Surplus or Deficit attributable to the Commonwealth   3,413 0 0 0 0
Total revenues, expenses and valuation adjustments attributable to members of the parent entity and recognised directly in equity   3,413 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   97 216 297 365 431
Receivables   131 135 197 226 230
Accrued revenues   0 0 0 0 0
Other   0 0 0 0 0
Total financial assets   228 351 494 591 661
             
Non-financial assets            
Land and buildings   9,550 18,550 35,050 55,550 76,550
Infrastructure, plant and equipment   437 399 360 321 283
Inventories   22 22 22 22 22
Total Non-financial assets   10,009 18,971 35,432 55,893 76,855
             
Total Assets   10,237 19,322 35,926 56,484 77,516
             
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   316 344 372 399 426
Total Provisions   316 344 372 399 426
             
Payables            
Suppliers   387 444 520 551 556
Total Payables   703 788 892 950 982
             
Total Liabilities   703 788 892 950 982
             
EQUITY            
Parent entity Interest            
Contributed equity   5,127 14,127 30,627 51,127 72,127
Reserves   0 0 0 0 0
Statutory funds   0 0 0 0 0
Retained surpluses or accumulated deficits   4,407 4,407 4,407 4,407 4,407
Total parent entity interest   9,534 18,534 35,034 55,534 76,534
             
Total equity   9,534 18,534 35,034 55,534 76,534
             
             
Total assets and liabilities by maturity            
Current liabilities   641 698 774 805 810
Non-current liabilities   62 90 118 145 172
Current assets   250 373 516 613 683
Non-current assets   9,987 18,949 35,410 55,871 76,833

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   10,500 6,000 5,000 3,000 1,500
Sales of goods and services   88 66 66 66 66
Interest   20 20 20 20 20
GST Recoverable from taxation authorities   1,257 1,459 2,145 2,524 2,599
Other   1,300 2,420 3,420 4,920 6,420
Total cash received   13,165 9,965 10,651 10,530 10,605
             
Cash Used            
Employees   2,494 2,781 2,837 2,885 2,885
Suppliers   7,198 7,065 7,733 7,577 7,654
Grants   0 0 0 0 0
Interest   0 0 0 0 0
Other   0 0 0 0 0
Total cash used   9,692 9,846 10,570 10,462 10,539
             
Net cash from operating activities   3,473 119 81 68 66
             
INVESTING ACTIVITIES            
Cash Received            
Proceeds from sale of property, plant            
and equipment   0 0 0 0 0
Total Cash Received            
             
Cash used            
Purchase of property, plant and equipment   3,413 9,000 16,500 20,500 21,000
Other   0 0 0 0 0
Total cash used   3,413 9,000 16,500 20,500 21,000
NET CASH FROM INVESTING ACTIVITIES   (3,413) (9,000) (16,500) (20,500) (21,000)
             
FINANCING ACTIVITIES            
             
Cash Received            
Appropriations - contributed equity   0 9,000 16,500 20,500 21,000
Total Cash Received   0 9,000 16,500 20,500 21,000
             
Cash Used            
Capital use charge paid   241 0 0 0 0
Total Cash Used   241 0 0 0 0
             
NET CASH FROM FINANCING ACTIVITIES   (241) 9,000 16,500 20,500 21,000
             
Net increase/decrease in cash held   (181) 119 81 68 66
             
Cash at the beginning of the reporting period   278 97 216 297 365
Cash at the end of the reporting period   97 216 297 365 431

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 (1)   0 9,000 16,500 20,500 21,000
Total loans   0 0 0 0 0
             
Represented by:            
Purchase of non-current assets   0 9,000 16,500 20,500 21,000
Other   0 0 0 0 0
             
Purchase of non-current assets            
Funded by capital appropriations   0 9,000 16,500 20,500 21,000
Funded internally by departmental resources   3,413 0 0 0 0
(1) Under the Appropriation Structure, Bill 2 includes departmental capital equity injection.

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
4,750
4,800
 
437
 
 
 
9,987
Additions *   9,000           9,000
Disposals                
Revaluation Increments                
Recoverable Amount Write-Downs                
Net Transfers free of Charge                
Depreciation/Amortisation Expense       38       38
Write-off of Assets                
Carrying amount at the end of the year
4,750
13,800
 
399
 
 
 
18,949

* TOTAL ADDITIONS
Self funded   0           0
Appropriations   9,000           9,000
TOTAL   9,000           9,000

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.