5512.0 - Government Finance Statistics, Australia, 2016-17 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 26/04/2018   
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KEY GOVERNMENT FINANCE STATISTICS

ACCRUAL OPERATING RESULTS


The GFS net operating balance for all levels of government in 2016-17 was -$16,503m for the general government sector and -$27,096m for the total public sector.

GFS net lending/borrowing for all levels of government in 2016-17 was -$42,830m for the general government sector and -$64,341m for the total public sector.

The following table shows 2016-17 GFS operating statement aggregates by sector across the various levels of government.

OPERATING RESULTS, By Sector, 2016-17

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
2016-17
2016-17
2016-17
$m
$m
$m

All levels of government
GFS Revenue
607 834
662 757
669 494
GFS Expenses
624 337
684 062
696 590
GFS Net operating balance
-16 503
-21 305
-27 096
Net acquisition of non-financial assets
26 327
37 500
37 245
GFS Net lending(+)/borrowing(-)
-42 830
-58 806
-64 341
Commonwealth Government
GFS Revenue
418 157
427 577
426 531
GFS Expenses
450 594
464 145
465 409
GFS Net operating balance
-32 436
-36 568
-38 877
Net acquisition of non-financial assets
3 068
8 845
8 893
GFS Net lending(+)/borrowing(-)
-35 504
-45 413
-47 770
State and local government
GFS Revenue
297 892
342 334
350 166
GFS Expenses
278 407
323 985
335 298
GFS Net operating balance
19 484
18 349
14 867
Net acquisition of non-financial assets
22 490
27 907
27 604
GFS Net lending(+)/borrowing(-)
-3 005
-9 559
-12 736
Multi-jurisdictional(b)
GFS Revenue
29 018
31 641
31 641
GFS Expenses
28 217
30 375
30 375
GFS Net operating balance
801
1 266
1 266
Net acquisition of non-financial assets
771
750
750
GFS Net lending(+)/borrowing(-)
29
517
517

(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 2016-17 was a deficit of -$37,375m for the general government sector and a deficit of -$55,411m for the total public sector.

The following table presents the 2016-17 cash operating surplus/deficit results by sector for each jurisdiction.

CASH OPERATING RESULTS, By Sector, 2016-17

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
2016-17
2016-17
2016-17
$m
$m
$m

Surplus (+)/Deficit(-)
Commonwealth Government
-31 018
-39 619
-42 134
State and local government
New South Wales
2 029
-3 867
-3 307
Victoria
-375
-524
166
Queensland
1 935
3 109
2 011
South Australia
-2 211
-3 188
-3 401
Western Australia
-4 340
-5 141
-5 384
Tasmania
819
652
718
Northern Territory
-404
-447
-456
Australian Capital Territory
233
75
75
Total state and local government
-2 316
-9 335
-9 579
Multi-jurisdictional(b)
-237
111
111
All levels of government
-37 375
-52 653
-55 411

(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 2017 for all levels of government was $899,857m.

The following table presents 30 June 2017 balance sheet aggregates by sector for the various levels of government.

BALANCE SHEET RESULTS, By Sector, At 30 June 2017

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
at 30 June 2017
at 30 June 2017
at 30 June 2017
$m
$m
$m

All levels of government
Total assets
2 214 840
2 360 963
2 650 147
Total liabilities
1 314 983
1 458 328
1 750 290
Shares and other contributed capital
-
2 779
-
GFS Net worth
899 857
899 857
899 857
Commonwealth Government
Total assets
539 671
554 067
729 330
Total liabilities
923 489
937 886
1 113 148
Shares and other contributed capital
-
-
-
GFS Net worth
-383 818
-383 818
-383 818
State and local government
Total assets
1 613 957
1 746 064
1 861 885
Total liabilities
382 901
512 228
630 829
Shares and other contributed capital
-
2 779
-
GFS Net worth
1 231 057
1 231 057
1 231 057
Multi-jurisdictional(b)
Total assets
73 081
76 841
76 841
Total liabilities
20 462
22 005
22 005
Shares and other contributed capital
-
2 218
2 218
GFS Net worth
52 619
52 619
52 619

- 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.


CHANGES TO GOVERNMENT FINANCE STATISTICS

GFS enables policy makers and users to analyse the financial operations and financial position of the public sector by the level of government, institutional sector or set of transactions. The system of GFS is based on international standards set out in the System of National Accounts, 2008 (2008 SNA) and the International Monetary Fund's (IMF) Government Finance Statistics Manual (GFSM).

The IMF published a revised Government Finance Statistics Manual (GFSM 2014) and the ABS GFS Manual was updated to reflect the new international standards. These changes are presented in the Australian System of Government Finance Statistics: Concepts, Sources and Methods, 2015 (AGFS15) and are being implemented for data reported for periods from 1 July 2017 onwards. These new standards will therefore be applicable in this publication from 2017-18.


TRANSACTIONS RELATED TO VISA APPLICATION CHARGES

In December 2015, the Commonwealth Government released the 2015-16 Mid-Year Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa application charges (VAC). These charges are treated as taxation revenue, rather than sales of goods and services, for all periods from 1 July 2015 onwards to reflect a change in the nature of this revenue item. The National Accounts statistics will continue to classify this transaction as sales of goods and services until the 2017-18 annual is released.


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 2007-08 to 2016-17.

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).


INQUIRIES

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