Forecast Statement of Financial Performance for the years ending 30 June

Forecast Statement of Financial Performance for the years ending 30 June
	Note	2009 Actual $m	2010 Previous Budget $m	2010 Forecast $m	2011 Forecast $m	2012 Forecast $m	2013 Forecast $m	2014 Forecast $m
Revenue
Taxation revenue	1	54,145	51,052	50,234	53,457	57,441	60,911	64,698
Other sovereign revenue	1	4,118	4,860	4,663	5,759	6,052	6,499	7,027
Total revenue levied through the Crown's sovereign power		58,263	55,912	54,897	59,216	63,493	67,410	71,725
Sales of goods and services		15,356	16,049	14,335	15,399	16,540	17,145	18,024
Interest revenue and dividends	2	3,419	3,159	3,294	4,063	4,421	4,644	4,672
Other revenue		2,890	2,814	3,154	3,103	3,048	3,146	3,252
Total revenue earned through the Crown's operations		21,665	22,022	20,783	22,565	24,009	24,935	25,948
Total revenue (excluding gains)		79,928	77,934	75,680	81,781	87,502	92,345	97,673
Expenses
Transfer payments and subsidies	3	19,962	21,175	21,400	22,628	23,273	23,959	24,595
Personnel expenses	4	18,064	18,324	18,710	19,109	19,410	19,726	19,886
Depreciation and amortisation	5	4,305	4,126	4,144	4,428	4,663	4,791	4,884
Other operating expenses	5	34,116	34,855	32,102	35,927	34,334	34,812	35,938
Interest expenses	6	3,492	3,349	3,571	4,612	5,387	5,934	6,135
Insurance expenses	7	3,882	3,890	3,135	3,725	4,292	4,762	5,154
Forecast new operating spending	8	-	254	-	394	1,609	2,815	4,179
Top-down expense adjustment	8	-	(300)	(455)	(410)	(60)	(60)	(60)
Total expenses (excluding losses)		83,821	85,673	82,607	90,413	92,908	96,739	100,711
Operating balance before gains/(losses)		(3,893)	(7,739)	(6,927)	(8,632)	(5,406)	(4,394)	(3,038)
Net gains/(losses) on financial instruments	9	(2,634)	1,416	3,916	1,250	1,471	1,626	1,841
Net gains/(losses) on non-financial instruments	10	(4,167)	205	(201)	181	187	197	202
Total gains/(losses)		(6,801)	1,621	3,715	1,431	1,658	1,823	2,043
Net surplus from associates and joint ventures		212	390	37	135	170	170	168
Operating balance from continuing activities		(10,482)	(5,728)	(3,175)	(7,066)	(3,578)	(2,401)	(827)
Gain/(loss) from discontinued operations		2	(1)	(4)	(1)	(1)	(1)	(1)
Operating balance (including minority interest)		(10,480)	(5,729)	(3,179)	(7,067)	(3,579)	(2,402)	(828)
Attributable to minority interest		(25)	-	-	-	-	-	-
Operating balance	11	(10,505)	(5,729)	(3,179)	(7,067)	(3,579)	(2,402)	(828)

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

Page top

Global Navigation

Personal tools

Forecast Statement of Financial Performance for the years ending 30 June

Revenue

Expenses