Section 3: Explanatory tables and budgeted financial statements

3.1: Explanatory tables

Estimates of special account flows

Special accounts provide a means to set aside and record amounts used for specified purposes. Table 3.1 shows the expected additions (receipts) and reductions (payments) for each account used by the Department. The corresponding table in the 2016–17 Budget is presented in the Agency Resourcing Budget Paper No. 4 2016–17.

Table 3.1: Estimates of Special Account flows and balances

3.2: Budgeted financial statements

3.2.1: Analysis of budgeted financial statements

An analysis of the Department’s financial position, as reflected in the budgeted departmental financial statements and administered schedules for 2016–17, is provided below.

Departmental

Budgeted departmental income statement

Total expenses are estimated to be $268.5m in 2016–17, a decrease of $15.0m from Budget. The decrease is primarily due to the impact of a movement of expenses relating to the Western Sydney Airport project from 2016–17 into 2017–18 ($13.4m), combined with revised depreciation estimates ($2.3m).

Chart 3.1: Total departmental expenses

Budgeted departmental balance sheet

The Department’s major assets are Buildings ($18.3m), Intangibles ($12.7m) and Property, plant & equipment ($11.6m). The Department’s primary liability continues to be accrued employee leave entitlements, estimated at $47.9m.

Administered

Schedule of budgeted income and expenses administered on behalf of government

The Department administers the collection of taxes, fees and fines, other non-taxation revenue and interest and dividends estimated at $539.3m in 2016–17, representing a decrease of $14.9m from Budget. The decrease is primarily due to a revised estimate of dividends from the Australian Rail Track Corporation ($12.6m) and Airservices Australia ($2.5m).

Administered expenses are budgeted at $4 979.2m in 2016–17, representing an increase of $94.4m from Budget and will be incurred for the administered items set out at Section 2. The increase is primarily due to various election commitments announced as Measures ($67.3m), combined with the movement of administered funds approved since Budget ($25.8m) and revised depreciation estimates ($23.5m).

Chart 3.2: Total administered expenses

Schedule of budgeted assets and liabilities administered on behalf of government

Total financial assets are expected to increase in 2016–17 by $1 061.9m to $6 449.5m from the 2015–16 actual result. The increase relates mainly to the Westconnex concessional loan ($520.0m) and an increase in Administered investments for the Building Australia Fund ($339.0m); the Australian Rail Track Corporation ($81.0m); and the Moorebank Intermodal Company ($40.0m).

3.2.2: Budgeted financial statements tables

Table 3.2: Comprehensive income statement (showing net cost of services) (for the period ended 30 June)

Table 3.3: Budgeted departmental balance sheet (as at 30 June)

Table 3.4: Departmental statement of changes in equity—summary of movement (Budget year 2016–17)

Table 3.5: Budgeted departmental statement of cash flows (for the period ended 30 June)

Table 3.6: Departmental capital budget statement (for the period ended 30 June)

 Table 3.7: Statement of asset movements (Budget year 2016–17)

Table 3.8: Schedule of budgeted income and expenses administered on behalf of Government (for the period ended 30 June)

Table 3.9: Schedule of budgeted assets and liabilities administered on behalf of Government (as at 30 June)

Table 3.10: Schedule of budgeted administered cash flows (for the period ended 30 June)

Table 3.11: Schedule of administered capital budget (for the period ended 30 June)

Table 3.12: Schedule of asset movements (Budget year 2016–17)

Appendix 3.1: Administered own-source revenue

Appendix 3.2: Administered loan repayments

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