Infrastructure and Project Financing Agency
Section 3: Budgeted financial statements
Section 3 presents budgeted financial statements which provide a comprehensive snapshot of IPFA's finances for the 2018–19 Budget year, including the impact of Budget measures and resourcing on financial statements.
3.1 Budgeted financial statements
3.1.1 Explanatory notes and analysis of budgeted financial statements
Budgeted departmental comprehensive income statement
IPFA is budgeting for a break-even operating result, adjusted for depreciation expenses, over the budget and forward estimates period. The 2017–18 surplus, and the corresponding 2018–19 deficit, represent a reprofiling of expenses between the two years as IPFA establishes itself and implements its first two years' work program.
Budgeted departmental balance sheet
IPFA received a small capital appropriation in 2017–18 to enable it to purchase office equipment as part of its establishment.
IPFA's primary liability is accrued employee entitlements.