NOTES

 
ABOUT THIS PUBLICATION
 
This publication presents government finance statistics (GFS) on an accrual accounting basis for each jurisdiction for general government, the non-financial public sector and the total public sector as follows:

• Operating statements for 2006-07;
• Cash flow statements for 2006-07; and
• Balance sheets at 30 June 2007.

 
Data for public non-financial corporations and public financial corporations are available on the ABS web site along with other time series tables.
 
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).
 
 
TERMINOLOGY
 
Within GFS the consolidated total of the general government and the public non-financial corporations sectors is referred to as the 'non-financial public sector'. The consolidated total of the general government, the public non-financial corporations and the public financial corporations sectors is referred to as the 'total public sector'
 
In this publication, the term 'state' includes the two territories. Therefore 'state' refers to 'state and territory' and 'state and local' refers to 'state, territory and local'.
 
 
INQUIRIES
 
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Glynis Orrell on Canberra (02) 6252 5735.
 
 
SUMMARY OF FINDINGS
 
 
ACCRUAL OPERATING RESULTS
 
The GFS net operating balance for all levels of government in 2006-07 was $29,002 million for the general government sector and $33,805 million for the total public sector.
 
GFS net lending in 2006-07 was $16,804 million for the general government sector and $10,037 million for the total public sector.
 
The following table shows 2006-07 GFS operating statement aggregates by sector across the various levels of government.
 

Operating Results - 2006-07
		General Government	Non-Financial Public Sector	Total Public Sector
		$m	$m	$m
All levels of Government
	GFS Revenue	389 729	431 363	443 088
	GFS Expenses	360 728	399 407	409 283
	GFS Net Operating Balance	29 002	31 956	33 805
	Net acquisition of non-financial assets	12 198	23 641	23 768
	GFS Net Lending(+)/Borrowing(-)	16 804	8 315	10 037
Commonwealth Government
	GFS Revenue	277 830	289 408	293 743
	GFS Expenses	258 551	271 045	274 799
	GFS Net Operating Balance	19 279	18 362	18 944
	Net acquisition of non-financial assets	2 207	3 053	3 102
	GFS Net Lending(+)/Borrowing(-)	17 071	15 309	15 842
State and Local Government
	GFS Revenue	173 924	203 575	211 003
	GFS Expenses	163 978	189 852	196 012
	GFS Net Operating Balance	9 946	13 724	14 991
	Net acquisition of non-financial assets	9 241	19 830	19 908
	GFS Net Lending(+)/Borrowing(-)	705	-6 106	-4 917
Multi-jurisdictional(a)
	GFS Revenue	15 783	16 380	16 380
	GFS Expenses	14 588	15 090	15 090
	GFS Net Operating Balance	1 195	1 290	1 290
	Net acquisition of non-financial assets	750	759	759
	GFS Net Lending(+)/Borrowing(-)	445	532	532
(a) 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
 
In 2006-07 the general government sector and total public sector, for all levels of government, recorded surpluses of $15,777 million and $6,750 million respectively.
 
The following table presents the 2006-07 surplus/deficit results by sector for each jurisdiction.
 

Cash Operating Results - 2006-07
		General Government	Non-Financial Public Sector	Total Public Sector
		$m	$m	$m
SURPLUS (+)/DEFICIT(-)
Commonwealth government		19 264	17 505	17 255
State and Local Government
	New South Wales	-7 505	-8 984	-8 546
	Victoria	693	110	-686
	Queensland	2 071	-1 881	-1 817
	South Australia	-84	-108	136
	Western Australia	1 550	248	513
	Tasmania	191	199	255
	Northern Territory	185	128	182
	Australian Capital Territory	270	261	261
	Total	-2 627	-10 033	-9 706
Multi-jurisdictional		286	343	343
Total		15 777	6 675	6 750

 
 
BALANCE SHEET RESULTS
 
GFS net worth reflects the contribution of governments to the wealth of Australia. The consolidated net worth as at 30 June 2007 for all levels of government was $708,729 million.
 
The following table presents 30 June 2007 balance sheet aggregates by sector for the various levels of government.
 

Balance Sheet Results - At 30 June 2007
		General Government	Non-Financial Public Sector	Total Public Sector
		$m	$m	$m
All Levels of Government
	Total assets	1 076 642	1 156 328	1 285 652
	Total liabilities	367 914	447 599	576 923
	Shares and other contributed capital	-	-	-
	GFS Net worth	708 729	708 729	708 729
Commonwealth Government
	Total assets	215 362	218 027	295 426
	Total liabilities	212 166	214 832	292 230
	Shares and other contributed capital	-	-	-
	GFS Net worth	3 196	3 196	3 196
State and Local Government
	Total assets	828 971	905 316	962 427
	Total liabilities	152 907	229 252	286 363
	GFS Net worth	676 064	676 064	676 064
Multi-jurisdictional(a)
	Total assets	40 183	42 628	42 628
	Total liabilities	10 714	11 867	11 867
	GFS Net worth	29 470	29 470	29 470
- nil or rounded to zero (including null cells)
(a) 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.

 
 
TIME SERIES
 
GFS revenue for the general government sector across all levels of government increased by $26,530 million (7.3%) from $363,199 million in 2005-06 to $389,729 million in 2006-07. Over the same period GFS expenses have increased by $26,050 million (7.8%) from $334,678 million to $360,728 million. This resulted in an increase of $481 million in the GFS net operating balance from $28,521 million to $29,002 million.
 
Between 30 June 2006 and 30 June 2007 GFS net worth for all levels of government increased by $83,622 million from $625,107 million to $708,729 million.
 
The following tables show a time series of major aggregates for the general government across different levels of government.
 

Major aggregates, General Government, All levels of Government
	2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
	$m	$m	$m	$m	$m	$m
GFS Revenue	262 773	286 317	310 332	335 559	363 199	389 729
GFS Expenses	261 626	274 840	295 199	315 990	334 678	360 728
GFS Net Operating Balance	1 147	11 477	15 132	19 569	28 521	29 002
Net acquisition of non-financial assets	4 015	3 481	5 054	5 514	8 555	12 198
GFS Net Lending(+)/Borrowing(-)	-2 868	7 997	10 078	14 055	19 966	16 804
Cash Surplus (+)/Deficit (-)	3 100	11 104	15 032	22 007	26 055	15 777
Total assets	713 948	769 315	830 809	909 590	989 209	1 076 642
Total liabilities	308 414	323 604	321 535	336 405	364 102	367 914
GFS Net worth	405 523	445 712	509 274	573 185	625 107	708 729

 

Major Aggregates, General Government, Commonwealth
	2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
	$m	$m	$m	$m	$m	$m
GFS Revenue	190 156	206 620	221 910	241 885	260 592	277 830
GFS Expenses	194 042	200 482	214 374	229 978	242 582	258 551
GFS Net Operating Balance	-3 886	6 139	7 536	11 907	18 010	19 279
Net acquisition of non-financial assets	-371	-218	726	154	1 434	2 207
GFS Net Lending(+)/Borrowing(-)	-3 515	6 357	6 810	11 753	16 577	17 071
Cash Surplus (+)/Deficit (-)	-1 112	7 404	8 125	13 505	15 720	19 264
Total assets	142 173	146 075	159 484	174 544	196 662	215 362
Total liabilities	186 542	193 237	189 386	199 358	206 849	212 166
GFS Net worth	-44 369	-47 162	-29 901	-24 814	-10 187	3 196

 

MAJOR AGGREGATES, General Government - State Government
		2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
		$m	$m	$m	$m	$m	$m
GFS Revenue		106 724	113 824	124 031	131 922	142 577	152 768
GFS Expenses		103 256	109 664	117 618	125 337	134 616	145 992
GFS Net Operating Balance		3 468	4 160	6 413	6 585	7 962	6 776
	New South Wales	1 569	1 801	1 126	695	1 033	774
	Victoria	2 573	1 479	942	797	810	1 413
	Queensland	-902	12	3 335	3 919	3 716	1 861
	South Australia	-97	448	387	156	219	227
	Western Australia	198	253	807	1 191	2 265	2 303
	Tasmania	143	170	62	147	20	14
	Northern Territory	24	-2	-45	-30	29	145
	Australian Capital Territory	-40	-1	-202	-297	-134	31
Net acquisition of non-financial assets		3 011	2 244	2 288	2 483	3 955	5 777
GFS Net Lending(+)/Borrowing(-)		456	1 916	4 125	4 102	4 007	999
	New South Wales	569	639	6	-202	-484	-1 040
	Victoria	1 719	590	197	586	326	505
	Queensland	-1 609	-144	2 835	2 866	2 480	-206
	South Australia	-125	413	435	51	79	71
	Western Australia	-25	130	570	898	1 846	1 534
	Tasmania	167	212	126	118	-16	49
	Northern Territory	-279	-73	-27	-57	-62	74
	Australian Capital Territory	39	150	-19	-163	-166	5
Cash Surplus (+)/Deficit (-)		4 206	4 532	7 264	8 145	10 490	-2 568
	New South Wales	2 551	2 336	1 444	1 312	2 087	-7 462
	Victoria	1 324	33	529	815	935	530
	Queensland	196	646	3 493	4 629	4 649	2 308
	South Australia	-45	659	531	191	188	-25
	Western Australia	-31	259	554	859	2 301	1 460
	Tasmania	213	300	370	244	209	167
	Northern Territory	-273	34	38	53	38	183
	Australian Capital Territory	263	257	299	35	76	270
Total assets		387 082	430 246	465 745	514 785	552 294	601 081
Total liabilities		113 412	121 784	122 737	126 721	144 444	141 631
GFS Net worth		273 670	308 462	343 008	388 064	407 850	459 450
	New South Wales	98 879	121 473	124 649	129 053	127 818	134 980
	Victoria	48 812	50 619	61 187	75 018	75 488	84 627
	Queensland	58 087	64 896	77 722	96 433	105 033	117 832
	South Australia	15 012	15 740	16 159	16 721	20 291	22 746
	Western Australia	36 016	38 012	43 741	50 212	57 941	75 709
	Tasmania	6 883	7 200	8 004	9 008	9 107	9 653
	Northern Territory	2 165	1 892	2 166	2 353	2 727	2 721
	Australian Capital Territory	7 815	8 629	9 380	9 265	9 445	11 182

 
For the total public sector across all levels of government, GFS revenue increased by $22,709 million (5.4%) from $420,379 million in 2005-06 to $443,088 million in 2006-07. GFS expenses increased by $17,599 (4.5%) from $391,684 million to $409,283 million. As a result GFS net operating balance increased by $5,111 million from $28,694 million in 2005-06 to $33,805 million in 2006-07
 
Between 30 June 2006 and 30 June 2007 GFS net worth across the total public sector increased by $116,933 million from $591,796 million to $708,729 million.
 
The following tables show a time series of major aggregates for the total public sector across different levels of government.
 

Major Aggregates, Total Public Sector, All Levels of Governments
	2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
	$m	$m	$m	$m	$m	$m
GFS Revenue	312 649	336 176	360 774	390 713	420 379	443 088
GFS Expenses	309 645	323 430	342 454	366 710	391 684	409 283
GFS Net Operating Balance	3 004	12 746	18 320	24 002	28 694	33 805
Net acquisition of non-financial assets	6 645	6 091	7 434	11 080	16 790	23 768
GFS Net Lending(+)/Borrowing(-)	-3 640	6 655	10 886	12 922	11 904	10 037
Cash Surplus (+)/Deficit (-)	2 905	11 288	16 339	21 640	20 374	6 750
Total assets	851 083	906 797	969 482	1 074 074	1 172 259	1 285 652
Total liabilities	464 256	475 087	478 253	519 535	558 393	576 923
GFS Net worth	356 653	403 072	460 051	524 194	591 796	708 729

 
For the Commonwealth Government total public sector, GFS revenue increased by $7,994 million (2.8%) from $285,749 million in 2005-06 to $293,743 million in 2006-07. GFS expenses increased by $5,806 (2.2%) from $268,993 million to $274,799 million. As a result GFS net operating balance increased by $2,188 million from $16,756 million in 2005-06 to $18,944 million in 2006-07
 
Between 30 June 2006 and 30 June 2007 GFS net worth across the total public sector increased by $46,693 million from $-43,497 million to $3,196 million.
 
The data for 2006-07 has been impacted by the privatisation of Telstra on 20 November 2007.
 

Major Aggregates, Total Public Sector, Commonwealth Government
	2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
	$m	$m	$m	$m	$m	$m
GFS Revenue	212 292	228 038	243 115	266 649	285 749	293 743
GFS Expenses	216 167	221 001	234 882	252 318	268 993	274 799
GFS Net Operating Balance	-3 875	7 037	8 233	14 331	16 756	18 944
Net acquisition of non-financial assets	-636	-741	606	466	2 089	3 102
GFS Net Lending(+)/Borrowing(-)	-3 239	7 778	7 628	13 865	14 667	15 842
Cash Surplus (+)/Deficit (-)	-1 291	7 893	9 245	15 171	14 656	17 255
Total assets	202 128	200 035	215 325	245 245	275 688	295 426
Total liabilities	265 217	261 151	263 274	288 705	297 116	292 230
GFS Net worth	-93 238	-89 801	-79 125	-73 804	-43 497	3 196

 

Major Aggregates, Total Public Sector, State Government
		2001-02	2002-03	2003-04	2004-05	2005-06	2006-07
		$m	$m	$m	$m	$m	$m
GFS Revenue		135 311	142 692	153 825	162 886	175 076	190 285
GFS Expenses		130 007	138 327	144 970	154 370	165 742	178 486
GFS Net Operating Balance		5 304	4 365	8 855	8 516	9 334	11 798
	New South Wales	2 409	1 768	1 283	987	1 654	3 298
	Victoria	3 300	1 626	2 612	1 499	970	2 271
	Queensland	-767	147	3 494	4 279	4 138	2 785
	South Australia	-116	169	496	253	172	342
	Western Australia	363	360	1 140	1 675	2 605	2 758
	Tasmania	232	235	89	188	54	47
	Northern Territory	-27	-18	1	22	70	227
	Australian Capital Territory	-57	86	-232	-386	-334	66
Net acquisition of non-financial assets		5 916	5 361	4 798	7 556	11 247	16 173
GFS Net Lending(+)/Borrowing(-)		-612	-996	4 056	960	-1 912	-4 375
	New South Wales	89	-471	-936	-1 497	-2 036	-1 752
	Victoria	1 772	-113	886	316	-353	55
	Queensland	-1 837	-875	3 383	1 732	162	-4 016
	South Australia	8	88	478	93	107	61
	Western Australia	-348	64	390	631	630	964
	Tasmania	-16	196	17	96	-153	69
	Northern Territory	-321	-78	-14	-97	-74	82
	Australian Capital Territory	43	226	-119	-313	-201	159
Cash Surplus (+)/Deficit (-)		4 190	4 072	7 415	6 315	6 075	-9 395
	New South Wales	2 308	2 109	849	190	1 067	-8 503
	Victoria	1 882	327	1 423	1 080	896	-850
	Queensland	13	387	3 710	4 422	2 140	-1 323
	South Australia	151	391	622	406	540	194
	Western Australia	-134	39	149	37	1 069	423
	Tasmania	42	396	336	256	178	227
	Northern Territory	-279	98	58	-5	80	181
	Australian Capital Territory	233	290	252	-88	79	261
Total assets		468 933	521 614	557 358	616 660	663 850	737 769
Total liabilities		195 262	213 162	214 347	228 594	256 000	278 319
GFS Net worth		273 670	308 461	343 009	388 064	407 849	459 450
	New South Wales	98 877	121 472	124 646	129 053	127 818	134 980
	Victoria	48 812	50 619	61 187	75 018	75 488	84 627
	Queensland	58 087	64 896	77 722	96 433	105 032	117 832
	South Australia	15 012	15 740	16 159	16 721	20 290	22 746
	Western Australia	36 017	38 012	43 741	50 213	57 941	75 709
	Tasmania	6 883	7 200	8 004	9 008	9 107	9 653
	Northern Territory	2 165	1 892	2 166	2 354	2 727	2 721
	Australian Capital Territory	7 815	8 629	9 380	9 265	9 445	11 182