Infrastructure and Project Financing Agency
Section 3: Explanatory tables and budgeted financial statements
3.1: Explanatory tables
Estimates of special account flows and balances
IPFA does not maintain Special Accounts.
3.2: Budgeted financial statements
3.2.1: Analysis of budgeted financial statements
An analysis of IPFA's financial position, as reflected in the budgeted departmental financial statements for 2018–19, is provided below.
Budgeted departmental 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.