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CHANGES IN THIS ISSUE

SINGLE RELEASE

Last year the ABS experimented with 'progressive' jurisdiction releases for the 2002-03 GFE. However, by late October 2002, when the consolidated figures were being produced, essential revisions had to be incorporated, which caused inconsistencies between the consolidated totals and the individual jurisdiction releases. This edition therefore returns to a single release, while retaining the electronic spreadsheet format used last year.

REFERENCE PERIOD

Traditionally, GFE releases have included not only Treasury forecasts for the forward year, but preliminary actuals for the most recent financial year based on estimates/figures contained in official budget documents. Due to the release of final budget outcomes by some jurisdictions in mid to late 2003, the ABS has decided that the publication of the 2002-03 preliminary actuals would cause confusion, as ABS preliminary statistics would be inconsistent with final budget outcomes. Therefore the 2002-03 estimates are not included in this release. The ABS will publish 2002-03 estimates, based on final budget outcomes, in Government Finance Statistics, Australia 2002-03 (cat. no. 5512.0), which will be released in April 2004.


INTRODUCTION

This release contains government financial estimates (GFE for 2003-04) of the Operating Statement, Cash Flow Statement and Expenses by 2-digit Government Purpose for each jurisdiction. It also includes consolidated results for each level of government, i.e. Commonwealth, State, Local, Multi-jurisdictional, plus All Australia. Consistent with past practice, Balance Sheet forecasts for the forward year are not included.

Sectors available in this release include General Government, Public Non-financial Corporations, and the Non-financial Public Sector.


COMMONWEALTH GOVERNMENT

The summary tables below present the 2003-04 operating balance and net lending/borrowing forward estimates and the cash estimates and surplus/deficit forward estimates respectively for the Commonwealth Government relating to the general government sector, public non-financial corporations and non-financial public sector.

COMMONWEALTH GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	210,375	24,830	230,831
GFS Expenses	209,761	23,681	229,067
GFS Net Operating Balance	614	1,150	1,764
Net acquisition of non-financial assets	-417	-623	-1,040
GFS Net Lending(+)/Borrowing(-)	1,031	1,772	2,804

COMMONWEALTH GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		3,703	7,818	9,752
Net cash flows from investments in non-financial assets		-1,530	-3,010	-4,539
Net cash flows from investments in financial assets for policy purposes		-701	0	-701
Net cash flows from investments in financial assets for liquidity purposes		-239	21	-218
Net cash flows from financing activities		-1,394	-4,703	-4,329
Net increase(+)/decrease(-) in cash held		-162	126	-36
Surplus(+)/Deficit(-)		2,172	1,499	3,671

NEW SOUTH WALES STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	37,809	12,778	46,074
GFS Expenses	36,782	12,555	44,824
GFS Net Operating Balance	1,027	223	1,250
Net acquisition of non-financial assets	980	1,835	2,814
GFS Net Lending(+)/Borrowing(-)	47	-1,612	-1,563

NEW SOUTH WALES STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		3,737	2,839	5,815
Net cash flows from investments in non-financial assets		-2,467	-3,382	-5,863
Net cash flows from investments in financial assets for policy purposes		189	-27	-2
Net cash flows from investments in financial assets for liquidity purposes		-1,299	23	-1,276
Net cash flows from financing activities		-402	472	1,010
Net increase(+)/decrease(-) in cash held		-242	-75	-317
Surplus(+)/Deficit(-)		923	-1,286	-395

VICTORIA STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	26,597	4,110	28,567
GFS Expenses	26,174	3,876	27,905
GFS Net Operating Balance	423	233	663
Net acquisition of non-financial assets	1,039	525	1,423
GFS Net Lending(+)/Borrowing(-)	-616	-292	-763

VICTORIA STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		1,967	846	2,316
Net cash flows from investments in non-financial assets		-2,064	-872	-2,748
Net cash flows from investments in financial assets for policy purposes		-510	39	-391
Net cash flows from investments in financial assets for liquidity purposes		644	125	769
Net cash flows from financing activities		18	-150	472
Net increase(+)/decrease(-) in cash held		56	-12	419
Surplus(+)/Deficit(-)		-97	-292	-437

QUEENSLAND STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	21,382	7,647	26,677
GFS Expenses	21,217	7,820	26,685
GFS Net Operating Balance	165	-173	-8
Net acquisition of non-financial assets	889	980	1,868
GFS Net Lending(+)/Borrowing(-)	-724	-1,153	-1,877

QUEENSLAND STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		2,471	1,973	3,698
Net cash flows from investments in non-financial assets		-2,321	-2,193	-4513
Net cash flows from investments in financial assets for policy purposes		3	0	0
Net cash flows from investments in financial assets for liquidity purposes		-947	-38	-976
Net cash flows from financing activities		571	30	1,341
Net increase(+)/decrease(-) in cash held		-222	-227	-449
Surplus(+)/Deficit(-)		151	-966	-815

SOUTH AUSTRALIA STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	9,161	1,884	9,845
GFS Expenses	9,103	1,931	9,834
GFS Net Operating Balance	58	-47	11
Net acquisition of non-financial assets	78	59	137
GFS Net Lending(+)/Borrowing(-)	-20	-106	-126

SOUTH AUSTRALIA STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		566	463	700
Net cash flows from investments in non-financial assets		-484	-245	-729
Net cash flows from investments in financial assets for policy purposes		24	1	-7
Net cash flows from investments in financial assets for liquidity purposes		-8	-4	-12
Net cash flows from financing activities		-57	-277	88
Net increase(+)/decrease(-) in cash held		42	-63	39
Surplus(+)/Deficit(-)		83	-112	-29

WESTERN AUSTRALIA STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	11,774	5,526	15,647
GFS Expenses	11,691	5,404	15,442
GFS Net Operating Balance	83	122	204
Net acquisition of non-financial assets	193	783	976
GFS Net Lending(+)/Borrowing(-)	-110	-661	-772

WESTERN AUSTRALIA STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		655	1,262	1,276
Net cash flows from investments in non-financial assets		-807	-1,351	-2,159
Net cash flows from investments in financial assets for policy purposes		-74	0	15
Net cash flows from investments in financial assets for liquidity purposes		17	-14	3
Net cash flows from financing activities		208	116	878
Net increase(+)/decrease(-) in cash held		-1	14	13
Surplus(+)/Deficit(-)		-152	-731	-883

TASMANIA STATE GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	3,000	1,178	3,946
GFS Expenses	3,006	1,065	3,839
GFS Net Operating Balance	-5	113	107
Net acquisition of non-financial assets	-23	45	22
GFS Net Lending(+)/Borrowing(-)	17	68	85

TASMANIA STATE GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		224	457	551
Net cash flows from investments in non-financial assets		-131	-237	-368
Net cash flows from investments in financial assets for policy purposes		45	0	1
Net cash flows from investments in financial assets for liquidity purposes		5	0	5
Net cash flows from financing activities		-199	-207	-232
Net increase(+)/decrease(-) in cash held		-56	13	-43
Surplus(+)/Deficit(-)		92	90	183

NORTHERN TERRITORY GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	2,408	563	2,801
GFS Expenses	2,405	546	2,757
GFS Net Operating Balance	3	17	44
Net acquisition of non-financial assets	29	-15	14
GFS Net Lending(+)/Borrowing(-)	-26	32	30

NORTHERN TERRITORY GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		136	91	205
Net cash flows from investments in non-financial assets		-161	-71	-232
Net cash flows from investments in financial assets for policy purposes		16	6	22
Net cash flows from investments in financial assets for liquidity purposes		30	0	30
Net cash flows from financing activities		-34	-47	-37
Net increase(+)/decrease(-) in cash held		-13	-22	-12
Surplus(+)/Deficit(-)		-26	0	-26

AUSTRALIAN CAPITAL TERRITORY GOVERNMENT, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	2,378	424	2,499
GFS Expenses	2,383	427	2,507
GFS Net Operating Balance	-5	-3	-9
Net acquisition of non-financial assets	56	17	73
GFS Net Lending(+)/Borrowing(-)	-61	-20	-82

AUSTRALIAN CAPITAL TERRITORY GOVERNMENT, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		264	100	364
Net cash flows from investments in non-financial assets		-206	-59	-265
Net cash flows from investments in financial assets for policy purposes		11	0	17
Net cash flows from investments in financial assets for liquidity purposes		-74	-38	-74
Net cash flows from financing activities		1	6	-38
Net increase(+)/decrease(-) in cash held		-5	8	3
Surplus(+)/Deficit(-)		58	40	98

ALL AUSTRALIA STATE GOVERNMENTS, OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	114,442	34,108	136,642
GFS Expenses	112,661	33,624	134,485
GFS Net Operating Balance	1,781	485	2,157
Net acquisition of non-financial assets	3,240	4,229	7,469
GFS Net Lending(+)/Borrowing(-)	-1,459	-3,744	-5,312

ALL AUSTRALIA STATE GOVERNMENTS, CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		10,089	8,031	15,644
Net cash flows from investments in non-financial assets		-8,641	-8,410	-17,051
Net cash flows from investments in financial assets for policy purposes		-295	18	1,020
Net cash flows from investments in financial assets for liquidity purposes		-1,632	54	-1,530
Net cash flows from financing activities		39	-57	1,206
Net increase(+)/decrease(-) in cash held		-441	-364	-711
Surplus(+)/Deficit(-)		1,100	-3.257	-1,714

ALL AUSTRALIA (1), OPERATING STATEMENT - 2003-04 (e)
	General Government	Public Non-financial Corporations	Non-financial Public Sector
	$m	$m	$m
GFS Revenue	289,527	59,328	332,406
GFS Expenses	285,723	57,561	326,746
GFS Net Operating Balance	3,804	1,767	5,660
Net acquisition of non-financial assets	3,881	3,581	7,487
GFS Net Lending(+)/Borrowing(-)	-77	-1,814	-1,827

ALL AUSTRALIA (1), CASH FLOW STATEMENT - 2003-04 (e)
		General Government	Public Non-financial Corporations	Non-financial Public Sector
		$m	$m	$m
Net cash flows from operating activities		19,147	16,066	31,189
Net cash flows from investments in non-financial assets		-15,009	-11,436	-26,444
Net cash flows from investments in financial assets for policy purposes		-1,387	18	-72
Net cash flows from investments in financial assets for liquidity purposes		-1,913	75	-1,790
Net cash flows from financing activities		-788	-5,170	-3,186
Net increase(+)/decrease(-) in cash held		50	-446	-302
Surplus(+)/Deficit(-)		3,782	-1,555	2,890