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Table 19 - Statement of Operations

Table 19 - Statement of Operations
for the years ended 30 June 2010
Actual
$m 		2011
Forecast
$m 		2012
Forecast
$m 		2013
Forecast
$m 		2014
Forecast
$m 		2015
Forecast
$m

Revenue

Taxation revenue 54,289 55,507 59,736 64,726 69,552 74,123
Interest revenue and dividends 3,054 3,068 2,355 2,633 2,791 3,171
Sale of goods and services and other revenue 8,291 11,577 8,534 8,669 8,917 9,124
Total revenue 65,634 70,152 70,625 76,028 81,260 86,418

Expenses

Compensation of employees 18,373 18,561 18,775 18,953 18,967 19,191
Consumption of capital 3,045 3,048 3,166 3,227 3,282 3,292
Social benefits 20,778 21,846 22,401 23,033 23,615 24,556
Grants and subsidies 3,924 5,436 4,866 4,735 4,846 4,913
Finance costs 2,016 2,604 3,338 3,861 4,110 4,564
Other expenses 20,959 28,968 23,331 22,533 22,570 22,910
Forecast for new operating  spending and top-down adjustment -  (250) 153 990 1,765 2,957
Total expenses 69,095 80,213 76,030 77,332 79,155 82,383
Net operating balance (3,461) (10,061) (5,405) (1,304) 2,105 4,035

Net acquisition of non-financial assets
Acquisition of non-financial assets 5,094 5,425 5,012 4,720 5,023 4,779
Disposal of non-financial assets (163) (122) (162) (137) (200) (205)
Consumption of fixed assets (3,045) (3,048) (3,166) (3,227) (3,282) (3,292)
Change in inventories 20 49 31 8 3 27
Forecast for new capital spending and top-down adjustment (100) (28) 4 1 - 
Fiscal Balance (Net lending/borrowing) (5,367) (12,265) (7,092) (2,672) 560 2,726

Net acquisition of financial assets

Receivables 359 4,613 505 109 1,471 2,341
Advances 3,353 1,594 1,531 1,644 1,434 1,129
Other financial assets 1,298 5,808 (6,324) (6,748) 6,091 (4,681)
Other assets (183) 297 353 (85) (131) (63)
4,827 12,312 (3,935) (5,080) 8,865 (1,274)

Net incurrence of liabilities

Borrowings 8,912 20,315 6,452 435 9,008 (3,387)
Accounts payable 385 (324) 258 (13) 152 137
Other liabilities 897 4,586 (3,553) (2,830) (855) (750)
10,194 24,577 3,157 (2,408) 8,305 (4,000)
Difference between net lending/borrowing and financing -  -  -  -  -  - 
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