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BALANCE SHEET RESULTS


BALANCE SHEET RESULTS

GFS net worth reflects the contribution of governments to the wealth of Australia. The consolidated net worth as at 30 June 2008 for all levels of government was $862,186 million.

The following table presents 30 June 2008 balance sheet aggregates by sector for the various levels of government.

Balance Sheet Results - At 30 June 2008
		General Government	Non-financial Public Sector	Total Public Sector(a)
		2007-08	2007-08	2007-08
		$m	$m	$m
All Levels of Government
	Total assets	1 240 323	1 326 401	1 483 096
	Total liabilities	378 137	464 215	620 909
	Shares and other contributed capital	-	-	-
	GFS Net worth	862 186	862 186	862 186
Commonwealth Government
	Total assets	250 661	253 605	347 677
	Total liabilities	207 506	210 450	304 522
	Shares and other contributed capital	-	-	-
	GFS Net worth	43 155	43 155	43 155
State and Local Government
	Total assets	956 641	1 039 116	1 108 052
	Total liabilities	169 718	252 193	321 128
	GFS Net worth	786 923	786 923	786 923
Multi-jurisdictional(b)
	Total assets	42 859	45 255	45 255
	Total liabilities	10 751	11 757	11 757
	GFS Net worth	32 108	32 108	32 108
- 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. The difference between GFS Net Worth and Total assets less Total liabilities is Shares and other contributed capital.