Portfolio Budget Statements 2011–12
Section 3: Explanatory tables and budgeted financial statements
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- Navigate this page:
- 3.1.1 Movement of administered funds between years
- 3.1.3 Australian Government Indigenous expenditure
- 3.2 Budgeted financial statements
- 3.2.3 Budgeted financial statements tables
- 3.2.4 Notes to the financial statements
- Departmental and Administered Items
- Commentary – Financial Statements
- Receivables (Administered)
- Non Financial Assets – Other (Administered)
Section 3: Explanatory tables and budgeted financial statementsSection 3 presents explanatory tables and budgeted financial statements which provide a comprehensive snapshot of agency finances for the 2011–12 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 yearsAdministered funds can be provided for a specified period, for example under annual Appropriation Acts. Funds not used in the specified period with the agreement of the Finance Minister may be moved to a future year. Table 3.1.1 shows the movement of administered funds approved between years. Table 3.1.1: Movement of administered funds between years1 
3.1.2 Special accountsSpecial accounts provide a means to set aside and record amounts used for specified purposes. Special accounts can be created by a Finance Minister’s Determination under the FMA Act or under separate enabling legislation. Table 3.1.2 shows the expected additions (receipts) and reductions (payments) for each account used by FaHCSIA. Table 3.1.2: Estimates of special account flows and balances 
(continued on next page) Table 3.1.2: Estimates of special account flows and balances (continued)
(continued on next page) Table 3.1.2: Estimates of special account flows and balances (continued)
(continued on next page) Table 3.1.3: Australian Government Indigenous expenditure (continued)
3.2.1 Differences in agency resourcing and financial statementsTable 3.2.1 recognised the full year revenue for 2011–12 on the basis of accrual accounting principles. 3.2.2 Analysis of budgeted financial statementsDepartmentalIncome and expensesFaHCSIA is budgeting for an operating deficit of $50.8 million for 2011-12. This is the result of the revised net cash funding arrangements introduced under Operation Sunlight whereby asset replacement is now funded through a capital appropriation rather than the departmental operating appropriation. After allowing for depreciation expenses the reconciliation table at the bottom of Table 3.2.1 shows that the operating result attributable to FaHCSIA is a balanced operating position. Total operating revenue for 2011-12 is estimated at $551.2 million, comprising of a net increase in government appropriations of $5.9m to a total of $525.9 million, offset by a decrease in own source revenue of $2.0 million to a total of $25.3 million. The net increase in revenue of $3.9 million is primarily due to funding through Government decisions and measures. Total expenses for 2011-12 are estimated to be $601.9 million. The net reduction in expenses of $0.3 million is primarily due to the reduction in depreciation and amortisation expenses and the extinguishment of prepayment expenses to Centrelink. This is offset by increases in employee and supplier expenses.
Balance sheetThe Department’s net asset position is expected to decrease by $20.5 million. This is due to the impact of the operating loss of $50.8 million and offset by an increase in contributed equity from the capital appropriations of $30.3 million. AdministeredIncome and expensesFaHCSIA will administer the collection of non-taxation revenue estimated at $163.0 million in 2011-12, a decrease of $15.3 million from the 2010-11 estimated revenues. The decrease is due to reduced returns from investments and receipts to special accounts. FaHCSIA will administer programs totalling $76,381 million in expenses in 2011-12. The increase of $4,371 million principally reflects customer trends, indexation of income support payments and measures. Balance sheetTotal assets administered on behalf of the Government are expected to increase by $125.5 million to $4,999.2 million. This is primarily due to an increase of $40.6 million in receivables and $95.2 million in investments. Total liabilities administered on behalf of the Government are expected to increase by $66.5 million to $7,630.9 million which is driven by the increase in the personal benefits payable. 3.2.3 Budgeted financial statements tablesTable 3.2.1: Comprehensive income statement (showing net cost of services) (for the period ended 30 June) 
Prepared on Australian Accounting Standards basis. Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)
* ‘Equity’ is the residual interest in assets after deduction of liabilities. Prepared on Australian Accounting Standards basis.
Prepared on Australian Accounting Standards basis. Table 3.2.4: Budgeted departmental statement of cash flows (for the period ended 30 June) 
Prepared on Australian Accounting Standards basis. Table 3.2.5: Departmental capital budget statement 
Prepared on Australian Accounting Standards basis. Table 3.2.6: Statement of asset movements (2011–12) 
Prepared on Australian Accounting Standards basis. Table 3.2.7: Schedule of budgeted income and expenses administered on behalf of Government (for the period ended 30 June) 
Prepared on Australian Accounting Standards basis. Table 3.2.8: Schedule of budgeted assets and liabilities administered on behalf of Government (as at 30 June) 
Prepared on Australian Accounting Standards basis. Table 3.2.9: Schedule of budgeted administered cash flows (for the period ended 30 June)
Prepared on Australian Accounting Standards basis. 3.2.4 Notes to the financial statementsAccounting policiesBudgeted statements of income and expenditure, assets and liabilities and cash flows have been included for the financial years 2010–11 to 2014–15. These statements are prepared in accordance with the requirements of the Government’s financial budget and reporting framework. Amounts in these statements are rounded to the nearest thousand dollars. Reporting EntitiesFaHCSIA’s budgeted financial statements include:
Departmental and Administered ItemsDepartmental revenues, expenses, assets and liabilities are those which are controlled by FaHCSIA. Departmental expenses include employee and supplier expenses and other administrative costs which are incurred by FaHCSIA in providing its goods and services. Administered items are revenues, expenses, assets and liabilities which are managed by FaHCSIA on behalf of the Australian Government, according to set government directions. Administered expenses include subsidies, grants and personal benefit payments. The distinction between departmental and administered funding enables an assessment of the administrative efficiency of the department in managing government programmes.
Asset ValuationAll assets are initially recorded at cost. Property, plant and equipment and other infrastructure assets are periodically revalued at their fair value. Commentary – Financial StatementsIntangibles (Departmental)Intangibles represent the amount of computer software currently recorded by FaHCSIA. Intangible assets are recorded at cost. Employee provisions (Departmental)Employee provisions consist of accrued leave entitlements, accrued salary and wages and superannuation payments that are owed to employees at the end of the financial year. Receivables (Administered)Administered receivables represent amounts owing to the Australian Government for overpayments to benefit recipients. The figure presented in the financial statements is net of provisions recognised for bad and doubtful debts. Investments (Administered)Administered investments primarily represents the investments in the Aboriginal and Torres Strait Islander Land Account. Non Financial Assets – Other (Administered)Other non-financial assets item relates to estimated administered prepayments at the end of the financial year. Personal benefits payable (Administered)Personal benefits payable relates to special appropriation amounts recognised as payables due to the timing of pay days to benefit recipients at the end of the financial year. Equal Opportunity for Women in the Workplace Agency Agency resources and planned performance Directory: sites -> default -> files -> documents documents -> North Mankato Taylor Library documents -> In the Red and Brown Water documents -> - documents -> Cbp and Trade Automated Interface Requirements Appendix: pga december 22, 2015 documents -> Ace abi catair customs and Trade Automated Interface Requirements documents -> Ace abi catair customs and Trade Automated Interface Requirements documents -> Mobile audio/video recording systems documents -> The south australian government gazette documents -> All public acts appearing in this gazette are to be considered official, and obeyed as such documents -> Union interparlementaire inter-parliamentary union Download 0.59 Mb. Share with your friends:
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