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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