Department of Infrastructure and Regional Development
Section 3: Explanatory tables and budgeted financial statements
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.
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.
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.
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).