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Budget 2011 Home Page Budget Economic and Fiscal Update 2011

Forecast Financial Statements

Forecast Statement of Financial Performance for the years ending 30 June
Note 2010
Actual
$m
2011
Previous
Budget
$m
2011
Forecast
$m
2012
Forecast
$m
2013
Forecast
$m
2014
Forecast
$m
2015
Forecast
$m

Revenue

Taxation revenue 1 50,347 53,457 50,640 54,690 59,270 63,752 67,746
Other sovereign revenue 1 4,682 5,759 5,444 5,808 6,218 6,641 7,323
Total revenue levied through the Crown's sovereign power 55,029 59,216 56,084 60,498 65,488 70,393 75,069
Sales of goods and services 14,331 15,399 15,128 16,078 17,092 17,907 18,454
Interest revenue and dividends 2 2,315 4,063 2,618 3,051 3,390 3,654 4,086
Other revenue 3,050 3,103 6,339 3,106 3,206 3,308 3,374
Total revenue earned through the Crown's operations 19,696 22,565 24,085 22,235 23,688 24,869 25,914
Total revenue (excluding gains) 74,725 81,781 80,169 82,733 89,176 95,262 100,983

Expenses

Transfer payments and subsidies 3 21,213 22,628 22,340 22,926 23,542 24,149 25,115
Personnel expenses 4 18,477 19,109 18,859 19,149 19,399 19,472 19,747
Depreciation and amortisation 5 4,229 4,428 4,786 4,631 4,805 4,943 5,047
Other operating expenses 5 31,338 35,927 38,137 37,792 35,577 35,922 36,204
Interest expenses 6 2,777 4,612 3,506 4,685 5,390 5,805 6,350
Insurance expenses 7 3,006 3,725 9,519 3,138 3,570 3,925 4,266
Forecast new operating spending 8 - 394 - 463 1,040 1,815 3,007
Top-down expense adjustment 8 - (410) (250) (310) (50) (50) (50)
Total expenses (excluding losses) 81,040 90,413 96,897 92,474 93,273 95,981 99,686
Operating balance before gains/(losses) (6,315) (8,632) (16,728) (9,741) (4,097) (719) 1,297
Net gains/(losses) on financial instruments 9 2,522 1,250 5,144 1,973 2,230 2,496 2,777
Net gains/(losses) on non-financial instruments 10 (960) 181 1,894 172 190 190 197
Total gains/(losses) 1,562 1,431 7,038 2,145 2,420 2,686 2,974
Net surplus from associates and joint ventures 227 134 253 303 327 325 316
Operating balance (including minority interest) (4,526) (7,067) (9,437) (7,293) (1,350) 2,292 4,587
Attributable to minority interest 17 - - - - - -
Operating balance 11 (4,509) (7,067) (9,437) (7,293) (1,350) 2,292 4,587

The accompanying notes and accounting policies are an integral part of these Statements.

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