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Portfolio budget statements

Portfolio Additional Estimates Statements 2004–2005

Environment and Heritage Portfolio
Explanation of Additional Estimates 2004–2005
Commonwealth of Australia 2005
ISSN 1448 – 9058 (Online)

Tables in this section

Part C - Agency Additional Estimates Statements (continued)
Director of National Parks (continued)

Section 3 - Budgeted Financial Statements

The budgeted departmental financial statements for the Director of National Parks are presented in this section. Information from the budgeted financial statements forms part of the financial statements that will appear in the Director of National Parks 2004 2005 Annual Report, and is also required as input into the Whole of Government Accounts.

Analysis of budgeted financial statements

Budgeted Departmental Statement of Financial Performance

Revenues for the Director of National Parks have increased by $2.838m to $55.860 million primarily due to additional funding provided by the Government, offset by reduced revenues resulting form the abolition of Park Entry Fees for Kakadu National Park.

Expenses for the Director of National Park have reduced by $1.808m primarily due to reduced employee and supplier expenses.

Budgeted Departmental Statement of Financial Position

Capital purchases were reduced in 2004-05 in order to maintain cash reserves. It is expected that the normal capital plan will be reinstated from 2005-2006 onwards.

Budgeted Departmental Statement of Cash Flows

The cash position is expected to increase to $5.100m from $2.814m. This will allow the Director of National Parks to have a more appropriate level of working capital. This movement primarily relates to the reduction in capital expenditure in 2004–2005.

Departmental Financial Statements

Budgeted Departmental Statement of Financial Performance

This statement provides a picture of the expected financial results for the Director of National Parks by identifying full accrual expenses and revenues and highlights whether the Director of National Parks is operating at a sustainable level.

Budgeted Departmental Statement of Financial Position

This statement shows the financial position of the Director of National Parks. It helps decision makers to track the management of the Director of National Parks' 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 2005)
  Note Actual
2003–04
$'000
Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000
2006–07
$'000
2007–08
$'000
REVENUES FROM ORDINARY ACTIVITIES
           
Revenues from Government
  35,552 40,085 41,203 42,950 43,589
Sales of goods and services
  9,560 10,925 11,471 12,045 12,647
Interest
  467 450 450 450 450
Other
  7,443 4,400 4,000 4,000 4,000
Total revenues from ordinary activities
  53,022 55,860 57,124 59,445 60,686
EXPENSES FROM ORDINARY
           
ACTIVITIES (excluding borrowing costs expense)
           
Employees
  22,567 20,305 20,914 21,542 22,188
Suppliers
  26,146 25,991 26,242 27,737 27,902
Depreciation and amortisation
  8,832 9,441 9,841 10,041 10,441
Total expenses from ordinary activities (excluding borrowing costs expense)
  57,545 55,737 56,997 59,320 60,531
Net Surplus or (deficit) from ordinary activities
  (4,523) 123 127 125 155
Table 3.2– Budgeted departmental statement of financial position
(as at 30 June 2005)
  Note Actual
2003–04
$'000
Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000
2006–07
$'000
2007–08
$'000
ASSETS
           
Financial Assets
           
Cash
  2,814 5,100 6,410 6,426 7,878
Receivables
  944 400 400 400 400
Total financial assets
  3,758 5,500 6,810 6,826 8,278
Non-financial assets
           
Land and buildings
  59,253 56,754 56,254 53,754 51,254
Infrastructure, plant and equipment
  47,053 44,965 44,477 47,287 48,696
Intangibles
  7 4 1 0 0
Other
  306 303 303 303 303
Total Non-financial assets
  106,619 102,026 101,035 101,344 100,253
Total Assets
  110,377 107,526 107,845 108,170 108,531
LIABILITIES
           
Interest bearing liabilities
           
Finance Leases
  32 0 0 0 0
Total debt
  32 0 0 0 0
Provisions
           
Employees
  5,811 5,496 5,688 5,887 6,093
Other
  300 0 0 0 0
Total Provisions
  6,111 5,496 5,688 5,887 6,093
Payables
           
Suppliers
  5,028 3,000 3,000 3,000 3,000
Grants
  0 0 0 0 0
Other
  299 0 0 0 0
Total Payables
  5,327 3,000 3,000 3,000 3,000
Total Liabilities
  11,470 8,496 8,688 8,887 9,093
EQUITY
           
Parent entity Interest
           
Contributed equity
  9,755 9,755 9,755 9,755 9,755
Reserves
  26,698 26,698 26,698 26,698 26,698
Retained surpluses or accumulated deficits
  62,454 62,577 62,704 62,829 62,985
Total parent entity interest
  98,907 99,030 99,157 99,282 99,438
Total equity
  98,907 99,030 99,157 99,282 99,438
Current liabilities
  8,442 6,023 6,128 6,238 6,351
Non-current liabilities
  3,028 2,473 2,560 2,649 2,742
Current assets
  4,064 5,807 7,114 7,129 8,581
Non-current assets
  106,313 101,719 100,731 101,041 99,950
Table 3.3– Budgeted departmental statement of cash flows
(for the period ended 30 June 2005)
Note Actual
2003–04
$'000
Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000
2006–07
$'000
2007–08
$'000
OPERATING ACTIVITIES
           
Cash received
           
Appropriations for outputs
  35,552 40,085 41,203 42,950 43,589
Sales of goods and services
  9,520 11,469 11,471 12,045 12,647
Interest
  543 450 450 450 450
Other
  5,437 1,100 700 700 700
Total cash received
  51,052 53,104 53,824 56,145 57,386
Cash Used
           
Employees
  21,850 20,620 20,722 21,342 21,982
Suppliers
  25,533 25,668 23,292 24,787 24,952
Total cash used
  47,383 46,288 44,014 46,129 46,934
Net cash from operating activities
  3,669 6,816 9,810 10,016 10,452
INVESTING ACTIVITIES
           
Cash Received
           
Proceeds from sale of property, plant
  862 500 500 500 500
and equipment
           
Total Cash Received
  862 500 500 500 500
Cash used
           
Purchase of property, plant and equipment
  13,195 5,000 9,000 10,500 9,500
Other
  0 30 0 0 0
Total cash used
  13,195 5,030 9,000 10,500 9,500
Net cash from investing activities
  (12,333) (4,530) (8,500) (10,000) (9,000)
FINANCING ACTIVITIES
           
Cash Received
           
Other
  0 0 0 0 0
Total Cash Received
  0 0 0 0 0
Cash Used
           
Repayment of lease liabilities
  171 0 0 0 0
Capital use charge paid
  12,545 0 0 0 0
Total Cash Used
  12,716 0 0 0 0
Net cash from financing activities
  (12,716) 0 0 0 0
Net increase/(decrease in cash held)
  (21,380) 2,286 1,310 16 1,452
Cash at the beginning of the reporting period
  24,193 2,814 5,100 6,410 6,426
Cash at the end of the reporting period
  2,814 5,100 6,410 6,426 7,878
Table 3.4– Departmental capital budget statement
  Note Actual
2003–04
$'000
Revised
Budget
2004–05
$'000
FORWARD
ESTIMATES
2005–06
$'000
2006–07
$'000
2007–08
$'000
Capital appropriations
           
Total equity injections
  0 0 0 0 0
Total loans
  0 0 0 0 0
Represented by:
           
Purchase of non-current assets
  0 0 0 0 0
Other
  0 0 0 0 0
Purchase of non-current assets
           
Funded by capital appropriations
  0 0 0 0 0
Funded internally by departmental resources
  13,241 5,000 9,000 10,500 9,500
Table 3.5– Departmental non-financial assets
summary of movement (Budget year 2004-05)
  Land
$'000
Buildings
$'000
Other
Infrastructure
Plant and
Equipment
$'000
Heritage
and cultural
assets
$'000
Computer
software
$'000
Other
intangibles
$'000
Total
$'000
Carrying amount at the start of the  year
8,197 51,057 47,053 0 0 7 106,314
Additions *
    5,000       5,000
Disposals
    150       150
Revaluation Increments
             
Recoverable Amount Write-Downs
             
Net Transfers free of Charge
             
Depreciation/Amortisation Expense
  2,500 6,938     3 9,441
Write-off of Assets
             
Carrying amount at the end of the year
8,197 48,557 44,965 0 0 4 101,723
*Total additions
Self funded
    5,000       5,000
TOTAL
    5,000       5,000

Notes to the Financial Statements

1. General notes on accrual budgeting framework
  1. Departmental Financial Statements and Notes of Administered Items
  2. Appropriations in the Accrual Budgeting Framework
  3. Administered investments in controlled entities
  4. Asset Valuation
(a) Departmental Financial Statements and Notes of Administered Items

Under the Australian Government'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 Australian Government's accrual budgeting framework, separate annual appropriations are provided for:

Special appropriations fund the majority of payments from the Consolidated Revenue Fund (especially those that are entitlement driven or involve transfers to state governments).

(c) Administered investments in controlled entities

Each Commonwealth Department is required to show an administered investment in each Commonwealth Authority and Company (CAC) Act 1997 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.

(d) 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.

Budget statements

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