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The net worth of the general government sector increased over the period 1998-99 to 2000-01. The major contributors to the growth were the increase in the general government sector's equity in the public non-financial corporations sector, and the decrease in net debt. 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 GENERAL GOVERNMENT BALANCE SHEET, Tasmania
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| | | 1998-99 | 1999-2000 | 2000-01 |
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Purpose | $m | $m | $m |
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Assets | | | |
| Financial Assets | | | |
| | Cash and Deposits | 441 | 662 | 808 |
| | Advances paid | 251 | 184 | 149 |
| | Investments, loans and placements | 10 | 1 | 1 |
| | Other non-equity assets | 73 | 71 | 91 |
| | Equity | 3,191 | 3,512 | 3,666 |
| | Total | 3,966 | 4,430 | 4,715 |
| | | | | |
| Non-financial assets | | | |
| | Land and fixed assets | 5,509 | 5,564 | 5,511 |
| | Other non-financial assets | 2 | 2 | 5 |
| | Total | 5,510 | 5,566 | 5,516 |
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| Total | 9,476 | 9,996 | 10,232 |
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Liabilities | | | |
| Deposits held | 31 | 17 | 20 |
| Advances received | 614 | 475 | 360 |
| Borrowing | 1,589 | 1,499 | 1,532 |
| Unfunded superannuation and other employee entitlements | 1,924 | 1,899 | 2,014 |
| Other provisions | - | - | 1 |
| Other non-equity liabilities | 123 | 119 | 105 |
| Total | 4,282 | 4,008 | 4,032 |
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GFS Net Worth | 5,194 | 5,988 | 6,200 |
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Net Debt | 1,532 | 1,143 | 953 |
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Net financial worth | -316 | 422 | 684 |
- nil or rounded to zero
Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection. |
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