Department of Infrastructure, Transport, Regional Development and Communications

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 2019–20 Budget is presented in the Agency Resourcing Budget Paper No. 4 2019–20.

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 2019–20, is provided below.

Departmental

Budgeted departmental income statement

Total expenses are estimated to be $394.5 million in 2019–20, an increase of $29.8 million since the 2019–20 Budget, due to the impact of measures announced in the 2019 PEFO and the 2019–20 MYEFO and changes to the accounting treatment for leases following the implementation of Australian Accounting Standard Board (AASB) 16 Leases. The reduction in expenses over the forward estimates is primarily due to the profile of non–ongoing measures and expenses for the Business Grants Hub to administer various grant programs.

Chart 3.1: Total departmental expenses

Chart 3.1: Total departmental expenses

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 $1,145.6 million in 2019–20, representing an increase of $6.4 million from Budget. The increase can primarily be attributed to a one‑off gain pertaining to the recognition of grant expenses for the Drought Communities Program; offset by changes in estimated dividends; and receipts from concessional loans.

Administered expenses are budgeted at $6,848.4 million in 2019–20, representing a decrease of $648.2 million from Budget and will be incurred for the administered items set out at Section 2. The reduction has been caused by movements of administered funds ($60.7 million), and other Government decisions approved since Budget ($866.6 million); offset by additional expenses for measures announced in the 2019 PEFO and the 2019–20 MYEFO ($279.1m).

The Administered statements reflect an amendment to the NBN Loan drawdown schedule and a change to the Regional Broadband Scheme (RBS). Funding for NBN Co Limited through the NBN Loan drawdown schedule was brought forward from 2020–21 into 2019–20. Consistent with the loan agreement for the term ending 30 June 2024, there is no increase to the overall loan facility. However, a modest increase is expected in interest revenue as a result of the accelerated loan drawdown schedule. In relation to the RBS, draft legislation anticipates commencement of the scheme on the first 1 July after passage of the legislation. As at 2019–20 Budget, the anticipated start date was 1 July 2019, with financial implications commencing in 2019–20. As at 2019–20 MYEFO, the anticipated start date of the RBS changed from 1 July 2019 to 1 July 2020, with financial implications commencing in 2020–21.

Chart 3.2: Total administered expenses

Chart 3.2: Total administered expenses

3.2: 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 2019–20)

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 2019–20)

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 administered asset movements (Budget year 2019–20)

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