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5501.0.55.001 - Government Financial Estimates, Australia, 2009-10 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 18/08/2009   
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CHANGES TO THIS RELEASE

The Australian system of Government Finance Statistics (GFS) is based on international standards set out in the System of National Accounts 1993 (SNA93) and the International Monetary Fund's Government Finance Statistics Manual 2001 (GFSM2001). The System of National Accounts has recently been updated and the System of National Accounts 2008 (SNA08) was endorsed by the United Nations Statistical Commission in February 2009. SNA08 will be implemented in Australia's System of National Accounts from the September Quarter 2009. The only current change to the ABS' compilation of GFS is the treatment of Defence Weapons Platforms (DWP), which has been capitalised to align with the SNA08 from September Quarter 2009. This change will affect the Commonwealth General Government Operating Statement, Cash Flow Statement and Balance Sheet.

Defence Weapons Platforms (DWPs) are the structural systems from which destructive weapons such as missiles, bombs and torpedoes are launched or fired. They include submarines, warships, fighter planes and tanks.The current SNA93 treatment classifies expenditures on DWPs as Government Final Consumption Expenditure (GFCE). This means that purchases of military equipment such as fighter planes and submarines were not seen as providing any ongoing services beyond the period in which they were purchased. The SNA08 has expanded the asset boundary used in national income accounting to include DWPs as capital expenditure. This brings the treatment of defence expenditure into line with capital formation in other industries. All expenditure on military weapon systems that have an anticipated ongoing use (longer than a year) will be recorded as gross fixed capital formation. Expenditure on 'disposable' military equipment such as bullets will continue to be recorded as inventories.

The GFSM2001 is expected to be revised in the future to reflect the SNA08, the timing of which is unknown at this stage.

MAIN FEATURES

The table below presents the 2009-10 GFS net operating balance and net lending(+)/borrowing(-) estimates for the general government sector for each level of government. The GFS net operating balance for all levels of government in 2009-10 is estimated to be $-47,730 million. The all levels of government net acquisition of non-financial assets is estimated to be $30,390 million, resulting in an estimated net lending/borrowing position for 2009-10 of $-78,121 million.

ALL LEVELS OF GOVERNMENT, OPERATING STATEMENT - 2009-10
General Government
Commonwealth
Multi-
jurisdictional (a)
State
Local
All levels of government (b)

$m
$m
$m
$m
$m
GFS Revenue
290 094
19 387
183 146
31 512
414 085
GFS Expenses
337 411
18 860
185 749
28 034
461 815
GFS Net Operating Balance
-47 317
527
-2 603
3 478
-47 730
Net acquisition of non-financial assets
5 521
999
19 176
4 695
30 390
GFS Net Lending(+)/Borrowing(-)
-52 838
-472
-21 779
-1 217
-78 121

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main type of units in this category are the public universities.
(b) The sum of individual levels of government may not agree with total All levels of government figure due to transfers between levels of government.


2009-10 CASH FLOW STATEMENT

The table below presents the 2009-10 GFS surplus(+)/deficit(-) estimates for the general government sector for each level of government. The GFS surplus(+)/deficit(-) for all levels of government for 2009-10 is estimated to be $-76 725 million.
ALL LEVELS OF GOVERNMENT, CASH FLOW STATEMENT - 2009-10
General Government

Commonwealth
Multi-
jurisdictional (a)
State
Local
All levels of government (b)

$m
$m
$m
$m
$m
Surplus(+)/Deficit(-)
-54 771
185
-19 222
-720
-76 725

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main type of units in this category are the public universities.
(b) The sum of individual levels of government may not agree with total All levels of government figure due to transfers between levels of government.

KEY STATE GOVERNMENT BALANCES

The table below presents 2009-10 GFS estimates for the key analytical balances in the operating and cash flow statement for the general government sector of each state and territory jurisdiction.

STATE GOVERNMENTS, KEY ANALYTICAL BALANCES 2009-10
General Government

Operating Statement
Cash Flow Statement


GFS Net
Operating
Balance
GFS Net
Lending (+)/
Borrowing(-)
Surplus(+)/
Deficit(-)

$m
$m
$m
New South Wales
-877
-4 856
-4 921
Victoria
163
-3 297
-2 741
Queensland
-1 953
-8 307
-6 838
South Australia
-304
-1 541
-1 535
Western Australia
492
-2 335
-2 305
Tasmania
-114
-571
-429
Northern Territory
217
-248
-172
Australian Capital Territory
-224
-622
-296


For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email <client.services@abs.gov.au> or Mark Patton on Canberra (02) 6252 7926, email <public.finance@abs.gov.au>.

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