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PUBLIC SECTOR ACCOUNTS

OBJECTIVES

The Public Sector Accounts program provides Government Finance Statistics (GFS) in respect of the Australian, state and territory governments, their public financial and non-financial corporations, universities and local governments. The statistics are compiled predominantly from government accounting systems.

The main users of the program include various Australian Government agencies (in particular the Department of the Treasury, the Commonwealth Grants Commission, the Productivity Commission, and the departments of: Finance; Education; Employment; and Health), state and territory government agencies (in particular state treasuries), financial market analysts and international agencies.

GFS are used to monitor the financial performance of governments and to inform on the economic impact of government activities. They are also used to assist in the distribution of Australian Government grants to state governments.

GFS are an important input to the Australian National Accounts, providing income and expenditure estimates for the public sector.

OUTPUTS

The program produces a number of GFS publications each year, compiled in accordance with the International Monetary Fund’s Government Finance Statistics Manual 2001. The key outputs are:

• Government Finance Statistics, Australia (cat. no. 5512.0), which is produced annually and provides an operating statement, balance sheet and cash flow statement for the most recent year for each of the Australian, state, territory and local governments for the general government, and public non-financial and financial corporations
• Taxation Revenue, Australia (cat. no. 5506.0), which provides information on revenue from taxation of the Australian Government, the state and territory governments and local government authorities in Australia annually
• Government Finance Statistics, Education, Australia (cat. no. 5518.0.55.001), which provides annual statistics on government expenditure in the field of education
• Government Finance Statistics, Australia (cat. no. 5519.0.55.001), which provides operating statements for general government and public non-financial corporations sector aggregates on a quarterly basis.

• implement revised international GFS standards in ABS statistics - due end 2017
• provide determinations on the classification of public sector units - ongoing
• assist the Department of the Treasury, Department of Finance and state and territory treasuries with interpreting GFS standards and reconciling with Australian accounting standards - ongoing
• provide GFS technical assistance to selected countries in Asia and the Pacific region - ongoing.