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GENERAL GOVERNMENT, ALL LEVELS OF GOVERNMENT COMBINED
OPERATING STATEMENT
Table 27.4 presents an Operating Statement for the general government sector for 2003-04.
In 2003-04 the GFS NOB for the general government sector for all levels of government combined was $15,639m, indicating that GFS operating revenue exceeded GFS operating expenses. The largest contributor to this result was the NOB for the Commonwealth Government of $7,115m.
GFS Net Lending for the general government sector for all levels of government combined was $10,223m. The Commonwealth Government and the state governments contributed $6,389m and $4,063m respectively to the aggregate result.
27.4 ALL LEVELS OF GOVERNMENT, General government Operating Statement - 2003-04
|
| | | Commonwealth | Multi-
jurisdictional(a) | State | Local | All levels of government(b) |
| | | $m | $m | $m | $m | $m |
|
GFS Revenue | | | | | |
| Taxation revenue | 209,195 | - | 40,394 | 7,663 | 256,767 |
| Current grants and subsidies | - | 5,230 | 55,483 | 2,427 | 990 |
| Sales of goods and services | 4,310 | 6,240 | 11,078 | 6,178 | 25,926 |
| Interest | 1,302 | 258 | 4,390 | 505 | 6,246 |
| Dividend income | 4,199 | 84 | 2,932 | 29 | 7,245 |
| Other | 2,538 | 667 | 9,691 | 3,482 | 13,082 |
| Total | 221,545 | 12,480 | 123,969 | 20,283 | 310,256 |
less | | | | | | | |
GFS Expenses |
| Gross operating expenses |
| | Depreciation | 1,639 | 826 | 5,864 | 3,847 | 12,176 |
| | Employee expenses | 16,200 | 6,542 | 50,900 | 6,604 | 80,238 |
| | Other operating expenses | 39,915 | 4,408 | 30,429 | 7,287 | 79,680 |
| | Total | 57,755 | 11,775 | 87,194 | 17,737 | 172,095 |
| Nominal superannuation interest expenses | 4,898 | - | 3,381 | - | 8,278 |
| Other interest expenses | 4,201 | 39 | 2,218 | 364 | 6,616 |
| Other property expenses | - | - | 1 | - | 1 |
| Current transfers | 144,543 | 55 | 20,758 | 128 | 103,843 |
| Capital transfers | 3,034 | 4 | 3,760 | 33 | 3,787 |
| Total | 214,430 | 11,873 | 117,312 | 18,265 | 294,617 |
equals | | | | | |
GFS Net Operating Balance | 7,115 | 607 | 6,657 | 2,018 | 15,639 |
less | | | | | |
Net acquisition of non-financial assets | | | | | |
| Gross fixed capital formation | 2,104 | 1,060 | 8,488 | 5,512 | 17,166 |
| less Depreciation | 1,639 | 826 | 5,864 | 3,847 | 12,176 |
| plus Change in inventories | 780 | - | -1 | 4 | 783 |
| plus Other transactions in non-financial assets | -519 | 4 | -29 | 187 | -357 |
| Total | | 726 | 238 | 2,594 | 1,857 | 5,415 |
equals | | | | | |
GFS Net Lending(+)/Borrowing(-) | 6,389 | 369 | 4,063 | 161 | 10,223 |
|
(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 type of units currently falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with total All levels of government figure due to transfers between levels of government.
Source: Government Finance Statistics, Australia, 2003-04 (5512.0). |
CASH FLOW STATEMENT
The general government sector for all levels of government combined recorded a cash surplus of $14,399m in 2003-04 (table 27.5). The Commonwealth Government recorded a surplus of $7,971m while the state and territory governments collectively contributed $6,981m to the overall surplus.
27.5 ALL LEVELS OF GOVERNMENT, General government Cash Flow Statement - 2003-04
|
| | Commonwealth | Multi-
jurisdictional(a) | State | Local | All levels of
government(b) |
| | $m | $m | $m | $m | $m |
|
CASH FLOW STATEMENT |
|
Cash receipts from operating activities | | | | | |
| Taxes received | 205,328 | - | 40,080 | 7,721 | 252,769 |
| Receipts from sales of goods and services | 4,199 | 5,483 | 11,549 | 6,246 | 25,691 |
| Grants and subsidies received | - | 5,228 | 57,944 | 2,684 | 1,074 |
| Interest | 1,054 | 169 | 4,372 | 526 | 5,911 |
| Other receipts | 5,809 | 1,543 | 11,944 | 2,026 | 21,221 |
| Total | 216,391 | 12,424 | 125,889 | 19,203 | 306,665 |
Cash payments for operating activities | | | | | |
| Payments for goods and services | -55,144 | -9,386 | -81,356 | -13,004 | -157,106 |
| Grants and subsidies | -74,442 | -1 | -22,441 | -134 | -32,804 |
| Interest paid | -4,050 | -42 | -2,220 | -340 | -6,442 |
| Other payments | -72,930 | -1,635 | -4,334 | -1,496 | -79,926 |
| Total | -206,566 | -11,064 | -110,350 | -14,974 | -276,276 |
Net cash flows from operating activities | 9,825 | 1,360 | 15,538 | 4,229 | 30,389 |
Net cash flows from investments in non-financial assets | | | | | |
| Sales of non-financial assets | 832 | 196 | 1,526 | 735 | 3,288 |
| Purchases of new non-financial assets | -2,681 | -1,258 | -9,771 | -5,249 | -18,958 |
| Purchases of secondhand non-financial assets | - | - | - | - | - |
| Total | -1,849 | -1,063 | -8,245 | -4,514 | -15,670 |
Net cash flows from investments in financial assets for policy purposes | -452 | 3 | -533 | 18 | -1,192 |
Net cash flows from investments in financial assets for liquidity purposes | -3,040 | -286 | -3,106 | -137 | -6,589 |
Net cash flows from financing activities | | | | | |
| Advances received (net) | - | -4 | -264 | 14 | -25 |
| Borrowing (net) | -2,458 | 13 | -1,801 | 31 | -4,229 |
| Deposits received (net) | 98 | 3 | 3 | 22 | 146 |
| Other financing (net) | -2,878 | 192 | -74 | 844 | -569 |
| Total | -5,238 | 204 | -2,136 | 910 | -4,678 |
Net Increase(+)/Decrease(-) in Cash Held | -754 | 219 | 1,519 | 506 | 2,260 |
|
SURPLUS(+)/DEFICIT(-) |
|
Net cash flows from operating activities and net cash flows from investments in non-financial assets | 7,976 | 297 | 7,293 | -286 | 14,719 |
Acquisitions of assets under finance leases and similar arrangements | -5 | - | -312 | -3 | -320 |
Surplus(+)/Deficit(-) | 7,971 | 297 | 6,981 | -289 | 14,399 |
|
(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classifications of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with total All levels of government figure due to transfers between levels of government.
Note: Negative figures denote outflows.
Source: Government Finance Statistics, Australia, 2003-04 (5512.0). |
BALANCE SHEET
The consolidated GFS Net Worth at 30 June 2004 for the general government sector for all levels of government combined was $508,184m (table 27.6). The most significant assets held were land and fixed assets of $474,824m followed by equity in financial assets of $207,705m. The most significant liabilities were unfunded superannuation liability and other employee entitlements of $173,407m, followed by borrowings of $98,306m.
27.6 ALL LEVELS OF GOVERNMENT, General government Balance Sheet - 30 June 2004
|
| | | Commonwealth | Multi-
jurisdictional(a) | State | Local | All levels of government(b) |
| | | $m | $m | $m | $m | $m |
|
Assets | | | | | |
| Financial assets | | | | | |
| | Cash and deposits | 1,572 | 1,007 | 8,253 | 4,508 | 15,341 |
| | Advances paid | 23,113 | - | 4,322 | 8 | 23,427 |
| | Investments, loans and placements | 24,188 | 4,894 | 33,207 | 4,578 | 66,869 |
| | Other non-equity assets | 20,571 | 3,485 | 14,086 | 1,763 | 37,433 |
| | Equity | 49,560 | 91 | 157,409 | 645 | 207,705 |
| | Total | 119,004 | 9,478 | 217,277 | 11,501 | 350,775 |
| Non-financial assets | | | | | |
| | Land and fixed assets | 40,284 | 20,488 | 244,702 | 169,350 | 474,824 |
| | Other non-financial assets | 197 | 125 | 3,087 | 1,802 | 5,202 |
| | Total | 40,481 | 20,613 | 247,788 | 171,152 | 480,026 |
| Total | 159,484 | 30,091 | 465,065 | 182,654 | 830,800 |
Liabilities | | | | | |
| Deposits held | 2,591 | 17 | 1,379 | 490 | 4,478 |
| Advances received | - | 16 | 4,027 | 397 | - |
| Borrowing | 65,892 | 645 | 26,175 | 5,178 | 98,316 |
| Unfunded superannuation liability and other employee entitlements | 96,617 | 4,562 | 70,503 | 1,725 | 173,407 |
| Other provisions | 3,768 | 32 | 8,789 | 262 | 12,851 |
| Other non-equity liabilities | 20,938 | 1,328 | 11,863 | 1,917 | 33,565 |
| Total | 189,806 | 6,599 | 122,736 | 9,969 | 322,616 |
GFS Net Worth | -30,322 | 23,492 | 342,329 | 172,685 | 508,184 |
Net debt(c) | 19,610 | -5,225 | -14,200 | -3,029 | -2,844 |
Net financial worth(d) | -70,803 | 2,879 | 94,540 | 1,532 | 28,158 |
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(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classifications of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with total All levels of government figure due to transfers between levels of government.
(c) Equals deposits held, advances received and borrowing less cash and deposits, advances paid and investments, loans and placements.
(d) Equals total financial assets less total liabilities. While Net financial worth should add across levels of government, small discrepancies may remain due to the difficulties in accurately identifying the parties and counter-parties associated with financial assets and liabilities.
Source: Government Finance Statistics, Australia, 2003-04 (5512.0). |
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