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5512.0 - Government Finance Statistics, Australia, 2013-14 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 13/05/2015   
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KEY GOVERNMENT FINANCE STATISTICS

ACCRUAL OPERATING RESULTS


The GFS net operating balance for all levels of government in 2013–14 was –$24,360m for the general government sector and –$30,482m for the total public sector.

GFS net lending/borrowing for all levels of government in 2013–14 was –$45,711m for the general government sector and –$62,769m for the total public sector.

The following table shows 2013–14 GFS operating statement aggregates by sector across the various levels of government.

Operating Results, 2013–14(a)

General Government Sector
Non-financial Public Sector
Total Public Sector
2013–14
2013–14
2013–14
$m
$m
$m

All levels of government
GFS Revenue
540 059
590 685
605 070
GFS Expenses
564 420
618 261
635 552
GFS Net operating balance
–24 360
–27 576
–30 482
Net acquisition of non-financial assets
21 351
32 326
32 287
GFS Net lending(+)/borrowing(-)
–45 711
–59 903
–62 769
Commonwealth Government
GFS Revenue
375 215
383 037
389 637
GFS Expenses
405 949
415 353
422 686
GFS Net operating balance
–30 734
–32 316
–33 049
Net acquisition of non-financial assets
3 700
8 181
8 257
GFS Net lending(+)/borrowing(-)
–34 434
–40 497
–41 306
State and local government
GFS Revenue
256 734
301 172
309 000
GFS Expenses
247 015
292 961
302 960
GFS Net operating balance
9 719
8 212
6 040
Net acquisition of non-financial assets
16 009
22 520
22 404
GFS Net lending(+)/borrowing(-)
–6 291
–14 308
–16 365
Multi-jurisdictional(b)
GFS Revenue
25 180
26 471
26 471
GFS Expenses
23 625
25 020
25 020
GFS Net operating balance
1 556
1 451
1 451
Net acquisition of non-financial assets
1 641
1 625
1 625
GFS Net lending(+)/borrowing(-)
–85
–174
–174

(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with the total public sector figures due to transfers between levels of government.
(b) 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 types of units currently falling into this category are the public universities.


CASH OPERATING RESULTS


The cash operating result for all levels of government in 2013–14 was a deficit of –$48,900m for the general government sector and a deficit of –$59,522m for the total public sector.

The following table presents the 2013–14 cash operating surplus/deficit results by sector for each jurisdiction.

Cash Operating Results, 2013–14

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
2013–14
2013–14
2013–14
$m
$m
$m

Surplus (+)/Deficit(-)
Commonwealth Government
–36 102
–41 383
–40 961
State and local government
New South Wales
1 215
–352
325
Victoria
16
–1 837
–455
Queensland
–4 138
–5 825
–6 821
South Australia
–2 241
–2 410
–2 263
Western Australia
–1 543
–2 817
–2 934
Tasmania
21
–149
–96
Northern Territory
–58
–37
18
Australian Capital Territory
–10
–178
–178
Total state and local government
–6 738
–13 604
–12 404
Multi-jurisdictional(b)
–1 498
–1 533
–1 533
All levels of government
–48 900
–61 143
–59 522

(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with the total public sector figures due to transfers between levels of government.
(b) 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 types of units currently falling into this category are the public universities.


BALANCE SHEET RESULTS


GFS net worth reflects the contribution of governments to the wealth of Australia. The consolidated net worth as at 30 June 2014 for all levels of government was $833,399m.

The following table presents 30 June 2014 balance sheet aggregates by sector for the various levels of government.

Balance Sheet Results, At 30 June 2014

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
at 30 June 2014
at 30 June 2014
at 30 June 2014
$m
$m
$m

All levels of government
Total assets
1 856 365
1 997 844
2 213 759
Total liabilities
1 022 967
1 163 595
1 380 361
Shares and other contributed capital
851
GFS Net worth
833 399
833 399
833 399
Commonwealth Government
Total assets
421 737
430 476
557 670
Total liabilities
659 140
667 879
795 073
Shares and other contributed capital
GFS Net worth
–237 403
–237 403
–237 403
State and local government
Total assets
1 384 692
1 518 421
1 613 378
Total liabilities
359 145
492 022
587 831
Shares and other contributed capital
851
GFS Net worth
1 025 547
1 025 547
1 025 547
Multi-jurisdictional(b)
Total assets
60 624
63 284
63 284
Total liabilities
15 369
15 966
15 966
Shares and other contributed capital
2 064
2 064
GFS Net worth
45 254
45 254
45 254

– nil or rounded to zero (including null cells)
(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with The total public sector figures due to transfers between level of government.
(b) 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 types of units currently falling into this category are the public universities.


GOVERNMENT FINANCE STATISTICS STANDARDS

GFS enables policy makers and users to analyse the financial operations and financial position of the public sector at the level of a specific government, institutional sector or set of transactions. The system is based on international standards set out in the System of National Accounts 1993 (1993 SNA) and the International Monetary Fund's (IMF) Government Finance Statistics Manual (GFSM). Current releases of ABS GFS and the ABS GFS Manual are based on the IMF GFSM 2001. The IMF has now released GFSM 2014 to reflect the System of National Accounts 2008 (2008 SNA). The ABS GFS Manual will be updated to reflect the new international standards in 2015 and GFS releases will follow these commencing with 2016-17.

PAYMENT TO THE RESERVE BANK OF AUSTRALIA

Government Finance Statistics are part of the broader suite of macroeconomic accounts produced by the ABS. They share their basic concepts with the National Accounts and Balance of Payments. The conceptual framework is agreed internationally and published by the International Monetary Fund. Macroeconomic statistics are compiled to enable macroeconomic analysis and the standards differ from accounting standards.

On 23 October 2013 the Treasurer announced that the Commonwealth Government would make a one-off $8.8 billion payment to the Reserve Bank of Australia (RBA). The intended purpose of the transaction is to ensure that the RBA has adequate funds to conduct monetary policy and foreign exchange operations. This payment was made in the June quarter 2014. In macroeconomic statistics, this payment is recorded as a financing transaction and is not included in the operating statement.

ABOUT THIS PUBLICATION

This publication presents government finance statistics on an accrual accounting basis for each jurisdiction for general government, public non-financial corporations, the non-financial public sector, public financial corporations and the total public sector for all levels of government, commonwealth government, state government, state and local government, local government and multi-jurisdictional as follows:
  • Operating statements;
  • Cash flow statements; and
  • Balance sheets.

Time series of these data are available on the ABS website for the periods 2004–05 to 2013–14.

Users interested in quarterly GFS data for the current financial year should refer to Government Finance Statistics, Australia, Quarterly (cat. no. 5519.0.55.001).

CHANGES TO DATA CUBE FORMAT

Some minor table formatting changes to the data cubes have been introduced with the release of this publication as indicated in the December Quarter 2014 release of Government Finance Statistics 5519.0.55.001. The changes include the insertion of blank lines, formatting emphasis changes and clearer 'total' and 'sub-total' item descriptions to improve readability. Users who extract data from the data cube tables using Excel formulas or by other computerised means should review and adjust their processes as necessary. Some row numbers have changed.

INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Public Finance on (07) 3222 6414. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.



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