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Between 1998-99 and 2001-02, the net worth of the total public sector increased by $1,007 million, largely flowing from the reduction in net debt by $811 million. Net debt is calculated as the sum of liabilities in the form deposits held, advances received and borrowing, less assets in the form of cash and deposits, advances paid, and investments loans and placements.

STATE TOTAL PUBLIC SECTOR BALANCE SHEET, Tasmania
			1998-99	1999-2000	2000-01
Purpose			$m	$m	$m
Assets
	Financial Assets
		Cash and Deposits	109	254	27
		Advances paid	122	125	107
		Investments, loans and placements	1,806	2,121	2,263
		Other non-equity assets	344	272	335
		Equity	86	76	94
		Total	2,467	2,848	2,827
	Non-financial assets
		Land and fixed assets	10,730	11,065	11,125
		Other non-financial assets	27	16	16
		Total	10,757	11,081	11,141
	Total		13,223	13,929	13,969
Liabilities
	Deposits held		107	117	135
	Advances received		612	470	355
	Borrowing		3,999	4,084	3,778
	Unfunded superannuation and other employee entitlements		2,264	2,243	2,367
	Other provisions		716	742	802
	Other non-equity liabilities		330	285	331
	Total		8,028	7,941	7,769
Shares and other contributed capital			-	-	-
GFS Net Worth			5,194	5,987	6,201
Net Debt			2,682	2,172	1,871
Net financial worth			-5,562	-5,094	-4,941
- nil or rounded to zero Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection.