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Budget 2009 Home Page Budget Economic and Fiscal Update 2009

Forecast Statement of Financial Performance for the years ending 30 June

Forecast Statement of Financial Performance for the years ending 30 June
  Note 2008
Actual
$m
2009
Previous
Budget
$m
2009
Forecast
$m
2010
Forecast
$m
2011
Forecast
$m
2012
Forecast
$m
2013
Forecast
$m

Revenue

               
Taxation revenue 1 56,372 55,911 53,523 51,052 51,326 54,013 57,781
Other sovereign revenue 1 3,879 4,037 4,114 4,860 5,403 5,700 6,299
Total revenue levied through the Crown's sovereign power   60,251 59,948 57,637 55,912 56,729 59,713 64,080
Sales of goods and services   15,399 14,222 15,248 16,049 17,415 17,742 18,377
Interest revenue and dividends 2 3,214 3,358 2,999 3,159 3,331 3,363 3,442
Other revenue   2,615 2,591 3,075 2,814 3,014 3,035 3,213
Total revenue earned through the Crown's operations   21,228 20,171 21,322 22,022 23,760 24,140 25,032
Total Revenue (excluding gains)   81,479 80,119 78,959 77,934 80,489 83,853 89,112

Expenses

               
Transfer payments and subsidies 3 18,374 19,681 20,182 21,175 22,196 22,987 23,658
Personnel expenses 4 16,478 17,061 18,031 18,324 18,681 18,995 19,189
Depreciation and amortisation 5 3,670 3,950 4,283 4,126 4,365 4,529 4,617
Other operating expenses 5 30,656 32,053 32,605 34,855 35,057 35,330 36,208
Interest expenses 6 3,101 2,503 3,358 3,349 4,019 4,625 5,460
Insurance expenses 7 3,563 3,799 3,916 3,890 4,225 4,587 4,931
Forecast new operating spending 8 249 254 1,436 2,533 3,622
Top-down expense adjustment 8 (495) (500) (300) (225) (150) (150)
Total Expenses (excluding losses)   75,842 78,801 81,875 85,673 89,754 93,436 97,535
Operating Balance before gains/(losses)   5,637 1,318 (2,916) (7,739) (9,265) (9,583) (8,423)
Net gains/(losses) on financial instruments 9 (617) 1,424 (3,266) 1,416 1,529 1,838 2,044
Net gains/(losses) on non-financial instruments 10 (2,925) 170 (3,450) 205 224 231 225
Total gains/(losses)   (3,542) 1,594 (6,716) 1,621 1,753 2,069 2,269
Net surplus/(deficit) from associates and joint ventures   334 193 333 390 402 400 382
Operating Balance from continuing activities   2,429 3,105 (9,299) (5,728) (7,110) (7,114) (5,772)
Gain/(loss) from discontinued operations   22 (4) (1) (1) (1) (1)
Operating Balance (including minority interest)   2,451 3,105 (9,303) (5,729) (7,111) (7,115) (5,773)
Attributable to minority interest   (67)
Operating balance 11 2,384 3,105 (9,303) (5,729) (7,111) (7,115) (5,773)

The accompanying Notes and Accounting policies are an integral part of these Statements.

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