Local government has low net debt levels. The net worth is largely driven by the non-financial assets, particular the local road and water and sewerage infrastructure.
LOCAL TOTAL PUBLIC SECTOR BALANCE SHEET, Tasmania
|
| | | 1998-99 | 1999-2000 | 2000-01 |
| | | | | |
Purpose | $m | $m | $m |
|
Assets | | | |
| Financial Assets | | | |
| | Cash and Deposits | 60 | 67 | 40 |
| | Advances paid | 4 | 3 | 3 |
| | Investments, loans and placements | 79 | 73 | 101 |
| | Other non-equity assets | 45 | 48 | 45 |
| | Total | 187 | 192 | 190 |
| | | | | |
| Non-financial assets | | | |
| | Land and fixed assets | 3,751 | 3,817 | 3,955 |
| | Other non-financial assets | 1 | 8 | 4 |
| | Total | 3,752 | 3,826 | 3,958 |
| | | | | |
| Total | 3,939 | 4,017 | 4,148 |
| | | | | |
Liabilities | | | |
| Deposits held | 3 | 2 | 3 |
| Borrowing and advances received | 210 | 225 | 206 |
| Unfunded superannuation liability and other employee entitlements | 34 | 35 | 35 |
| Other provisions | 1 | 5 | 6 |
| Other non-equity liabilities | 33 | 37 | 17 |
| Total | 282 | 304 | 267 |
| | | | | |
Shares and other contributed capital | 1 | -1 | - |
| | | | | |
GFS Net Worth | 3,657 | 3,715 | 3,881 |
| | | | | |
Net Debt | 71 | 83 | 65 |
| | | | | |
Net financial worth | -95 | -111 | -77 |
- nil or rounded to zero
Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection. |