Families, housing, community services and indigenous affairs portfolio
Section 3: Explanatory tables and budgeted financial statements
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- 3.1.1 Movement of administered funds between years
- 3.2 Budgeted financial statements
- 3.2.2 Analysis of budgeted financial statements
- 3.2.3 Budgeted financial statements tables
- 3.2.4 Notes to the financial statements
Section 3: Explanatory tables and budgeted financial statementsSection 3 presents explanatory tables and budgeted financial statements that provide a comprehensive snapshot of agency finances for the 2013–14 budget year. It explains how budget plans are incorporated into the financial statements and provides further details of the reconciliation between appropriations and program expenses, movements in administered funds, special accounts and government Indigenous expenditure. 3.1 Explanatory tables3.1.1 Movement of administered funds between yearsAHL has no administered funds for 2013–14. 3.1.2 Special accountAHL has no special accounts for 2013–14. 3.1.3 Australian Government Indigenous ExpenditureTable 3.1.3: Australian Government Indigenous Expenditure 
3.2 Budgeted financial statements3.2.1 Differences in agency resourcing and financial statementsTable 3.2.1 recognises the full-year revenue for 2013–14 on the basis of accrual accounting principles. There are no significant differences between the resource information presented in the Budget Papers and Portfolio Budget Statements as a result of differences between Australian Accounting Standards and Government Finance Statistics. Furthermore, there are no differences which arise because of related entity transactions. 3.2.2 Analysis of budgeted financial statementsAn analysis of the primary causes of movements from the financial statements published in the 2013–14 Portfolio Budget Statements is provided below. DepartmentalIncome and expensesSale of goods and rendering of services have increased due to revisions to the accommodation tariff rates to the associated increase to Centrelink benefits. Other own-source revenue included funding from DEEWR for the Indigenous Youth Mobility Program, which ceased to operate from 31 December 2012. The cessation of this program has translated to a reduction in own-source revenue in the 2013–14 budget year. A related reduction in employee and supplier expenses will also occur, primarily in the 2013–14 budget year. Interest income will increase due to interest earned from the planned divestments in 2013–14 and the forward years. Depreciation and amortisation expenses will decrease due to a number of fixed assets reaching the end of their useful life without replacement. The grant expense has slightly decreased as grant expenditure from the Corporate and Community Partnerships Program (CCPP) has reduced the funding for capital grants. Operational grants will continue to be funded at the same rate noting that expenditure is governed by the number of successful applications made by third-party organisations.
Balance sheetThe major variation between actual expected results for 2012–13 and the budget for 2013–14 and forward years relates to the divestment of hostels. Expected budget implications can be seen in: increased cash and cash equivalents decreases in land and buildings and associated reserves.
Table 3.2.2: Budgeted departmental balance sheet (as at 30 June) 
Table 3.2.3: Departmental statement of changes in equity – summary of movement (budget year 2013–14) 
Table 3.2.4: Budgeted departmental statement of cash flows (for the period ended 30 June) 
Table 3.2.5: Departmental capital budget statement 
Table 3.2.6: Statement of asset movements (2013–14) 
3.2.4 Notes to the financial statementsAccounting policiesThe financial statements have been prepared in accordance with Australian Equivalent of International Financial Reporting Standards and other authoritative pronouncements of the Australian Accounting Standards Board, and the Corporations Act 2001. The financial statements are prepared on an accrual basis and in accordance with historical cost conventions. The accounting policies adopted that underpin these statements are consistent with those applied in 2012–13. Reference should be made to AHL’s Annual Report 2011–12 for detailed disclosure of AHL’s accounting policies. Asset valuationIn 2012–13, land and buildings have for the first time been revalued based on independent valuations. These assets were previously brought to account at historical cost. The increase has been recognised in the asset revaluation reserve. Australian Institute of Family Studies Agency resources and planned performance Australian Institute of Family Studies Section 1: Agency overview and resources 205 1.1 Strategic direction statement 205 1.2 Agency resource statement 208 1.3 Budget measures 209 Section 2: Outcomes and planned performance 211 2.1 Outcomes and performance information 211 Section 3: Explanatory tables and budgeted financial statements 217 3.1 Explanatory tables 217 3.2 Budgeted financial statements 218
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