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Local government has low net debt levels. The net worth is largely driven by the non-financial assets, particular the local road and water and sewerage infrastructure.

LOCAL TOTAL PUBLIC SECTOR BALANCE SHEET, Tasmania
			1998-99	1999-2000	2000-01
Purpose			$m	$m	$m
Assets
	Financial Assets
		Cash and Deposits	60	67	40
		Advances paid	4	3	3
		Investments, loans and placements	79	73	101
		Other non-equity assets	45	48	45
		Total	187	192	190
	Non-financial assets
		Land and fixed assets	3,751	3,817	3,955
		Other non-financial assets	1	8	4
		Total	3,752	3,826	3,958
	Total		3,939	4,017	4,148
Liabilities
	Deposits held		3	2	3
	Borrowing and advances received		210	225	206
	Unfunded superannuation liability and other employee entitlements		34	35	35
	Other provisions		1	5	6
	Other non-equity liabilities		33	37	17
	Total		282	304	267
Shares and other contributed capital			1	-1	-
GFS Net Worth			3,657	3,715	3,881
Net Debt			71	83	65
Net financial worth			-95	-111	-77
- nil or rounded to zero Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection.