National Capital Authority
Section 3: Budgeted financial statements
Section 3 presents budgeted financial statements which provide a comprehensive snapshot of the NCA's finances for the 2016–17 Budget year, including the impact of Budget measures and resourcing on financial statements.
3.1.1: Explanatory notes and analysis of budgeted financial statements
Departmental comprehensive income statement
The NCA is budgeting for a break-even operating result, adjusted for depreciation and amortisation expense, in 2016–17 and the forward years.
Revenue from Government in 2016–17 remains relatively consistent from 2015–16 reflecting decisions of the Government.
Revenue from other sources principally reflects the recovery of costs for the provision of services and rental income. This includes the revised fees for works approval effective 1 December 2015.
Budgeted departmental balance sheet
The reduction in NCA's departmental budgeted net asset position in 2016–17 and forward years is largely due to higher accumulated depreciation expenses on capital assets compared to capital funding received for asset replacement.
Schedule of budgeted income and expenses administered on behalf of Government
In 2016–17 the NCA will receive appropriation of $2.9m for supplier expenses including the insurance premium for risks associated with assets on National Land and operating expenses associated with the administration of the pay parking program.
Revenue from administered activities primarily includes pay parking revenue, lease revenue on diplomatic land and user charges returned to the Budget.
Schedule of budgeted assets and liabilities administered on behalf of the Government
In 2016–17 the NCA will receive appropriation of $13.7m for activities it administers on behalf of the Government. This appropriation is directly linked to the administered capital budget and will be used to replace and upgrade existing administered assets.
The reduction in NCA's administered net asset position in 2016–17 and forward years is largely due to higher accumulated depreciation expenses on capital assets compared to capital funding received to replace and upgrade existing assets.