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Australian Transport Safety Bureau

Section 3: Explanatory tables and budgeted financial statements

Section 3 presents explanatory tables and budgeted financial statements which provide a comprehensive snapshot of agency finances for the Budget year 2012–13. 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 tables

3.1.1: Movement of administered funds between years

ATSB does not receive administered funds.

3.1.2: Special Accounts

ATSB does not maintain Special Accounts.

3.1.3: Australian Government Indigenous Expenditure

The 2012–13 Australian Government Indigenous Statement is not applicable because ATSB has no Indigenous specific expenses.

3.2: Budgeted financial statements

3.2.1: Differences in agency resourcing and financial statements

The ATSB does not have any significant differences between the resource information presented in the Budget Papers and Portfolio Budget Statements as a result of differences between Australian Accounting Standards (AAS) and Government Finance Statistics (GFS).

3.2.2: Analysis of budgeted financial statements

An analysis of ATSB’s budgeted financial statements, as reflected in the budgeted departmental financial statements for 2012–13, is provided below.

Budgeted departmental comprehensive income statement

The ATSB is expecting to deliver a break even operating result for 2011–12. In the Budget and forward years, a breakeven position is also expected once the impact of depreciation and amortisation expenses is factored out.

Revenue

Net appropriation revenue of $21.9m will be provided to the ATSB in 2012–13, which includes $3.5m in additional funding for the ATSB to continue its preparations to become the national safety investigator across all Australian rail networks from 1 January 2013. At present, the ATSB only investigates safety occurrences on the defined interstate rail network which does not include the rail network around the major capital cities.

The income statement also includes estimates of the ATSB’s own source revenue of $2.7m of which includes:

  • revenue from the Department of Infrastructure and Transport for the ATSB’s continued capacity building work in Indonesia. This funding was announced by the Government in the 2010–11 Budget and will continue until 2013–14 ($0.740m);
  • estimates of cost recoveries from Queensland, the Northern Territory, Western Australia, South Australia and Tasmania for safety investigations we will undertake on their intrastate rail networks from 1 January 2013 ($0.750m);
  • estimates of cost recoveries for training that the ATSB provides to industry ($0.160m); and
  • estimates of the value of the services the ATSB will receive free of charge from the Victorian Office of the Chief Investigator, the NSW Office of Transport Investigations and the Australian National Audit Office ($1.045m).
Expenses

Budgeted operating expenditure in 2012–13 is comprised of employee expenses (65%), supplier expenses (30%) and depreciation (5%). Although the funding for 2012–13 has increased when compared with 2011–12, $1m of expenses are non-cash and relate to the resources received free of charge referred to above.

Depreciation and amortization expenses are expected to increase over the forward estimates period as the ATSB implements its capital program and the capital announced as part of the National Transport Reforms is invested.

Budgeted departmental balance sheet

The ATSB's budgeted balance sheet at 30 June 2013 reflects the expected balances for its assets and liabilities as well as retained earnings and contributed equity, based on the projected operating result for 2011–12 and the Budget year.

Financial Assets

The ATSB’s largest financial asset is $7.8m in prior year appropriations.

Non Financial Assets

These comprise plant, equipment and intangible software assets utilised by the ATSB, the largest component of which is the agency’s investment in its Safety Investigation Information Management System. This is shown in the line intangibles.

Provisions and Payables

The ATSB’s primary liability is accrued employee leave entitlements, shown in the line Employee provisions.

3.2.3: Budgeted financial statements tables

Table 3.2.1: Comprehensive income statement (showing net cost of services) (for the period ended 30 June)

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 2012–13)

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 (2012–13)

3.2.4: Notes to the financial statements

1. Accounting policy

The budgeted financial statements have been prepared on an accrual accounting basis, having regard to Statements of Accounting Concepts, and in accordance with:

  • the Finance Minister's Orders;
  • Australian Accounting Standards;
  • other authoritative pronouncements of the Australian Accounting Standards Board; and
  • the Consensus Views of the Urgent Issues Group.
2. Departmental and administered items

Agency assets, liabilities, revenues and expenses are those items that are controlled by ATSB that are used in producing its outcomes and include:

  • infrastructure, plant and equipment used in providing goods and services;
  • liabilities for employee entitlements;
  • revenue from appropriations or independent sources in payment for outcomes; and
  • employee, supplier and depreciation expenses incurred in providing agency outcomes.

ATSB has no administered items.

3. Departmental expenses—employee benefits

Payments and net increases in entitlements to employees for services rendered in the financial year.

4. Departmental expenses—suppliers

Payments to suppliers for goods and services used in providing agency outcomes.

5. Departmental expenses—depreciation and amortisation

Depreciable property plant and equipment and intangible assets are written-off to their estimated residual values over their estimated useful life to ATSB, using the straight-line calculation method.

6. Departmental revenue

Revenue from government represents the purchase of outcomes from ATSB by the Government and is recognised on the delivery of its outcome.

Revenue from other sources, representing sales from goods and services, is recognised when:
the risks and rewards of ownership have been transferred to the buyer;
the ATSB retains no managerial involvement nor effective control over the goods;
the revenue and transaction costs incurred can be reliably measured; and
it is probable that the economic benefits associated with the transaction will flow to the entity.

7. Departmental assets—financial assets

The primary financial asset relates $7.8m in prior year appropriations.

8. Departmental assets—non-financial assets

These items represent future economic benefits that ATSB will consume in producing outcomes. The reported value represents the purchase price paid less depreciation incurred to date in using the asset.

9. Departmental liabilities—provisions and payables

Provision has been made for ATSB's liability for employee entitlements arising from services rendered by employees. This liability includes unpaid annual leave and long service leave.

Provision has also been made for the expected unpaid supplier expenses as at balance date.

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Budget 2012-13