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Half Year Economic and Fiscal Update 2012

Forecast Statement of Segments (continued)

Statement of Financial Performance for the year ended 30 June 2015
Core Crown
2015
Forecast
$m
Crown entities
2015
Forecast
$m
State-Owned
Enterprises
2015
Forecast
$m
Inter-segment
eliminations
2015
Forecast
$m
Total Crown
2015
Forecast
$m

Revenue

Taxation revenue 65,643 (765) 64,878
Other sovereign revenue 1,275 5,464 (1,285) 5,454
Sales of goods and services 1,337 15,264 14,317 (13,908) 17,010
Interest revenue and dividends 2,833 1,347 1,239 (1,154) 4,265
Other revenue 729 13,198 1,246 (11,315) 3,858
Total revenue (excluding gains) 71,817 35,273 16,802 (28,427) 95,465

Expenses

Social assistance and official development assistance 24,063 2 24,065
Personnel expenses 6,025 11,329 2,884 (11) 20,227
Other operating expenses 37,636 18,466 11,048 (27,161) 39,989
Interest expenses 3,972 257 1,591 (559) 5,261
Insurance expenses 2 3,642 9 3,653
Forecast for future new spending and top-down adjustment 1,954 1,954
Total expenses (excluding losses) 73,652 33,694 15,532 (27,729) 95,149
Forgone profits from Government share offers (250) (250)
Operating balance before gains/(losses) (1,835) 1,579 1,020 (698) 66
Total gains/(losses) 1,789 227 20 (220) 1,816
Net surplus/(deficit) from associates and joint ventures 79 137 11 (8) 219
Operating balance 33 1,943 1,051 (926) 2,101

Expenses by functional classification

Social security and welfare 24,113 4,668 (653) 28,128
Health 14,596 12,068 (12,888) 13,776
Education 12,304 9,794 27 (8,953) 13,172
Transport and communications 2,212 2,338 6,869 (2,295) 9,124
Other 14,501 4,569 7,045 (2,381) 23,734
Finance costs 3,972 257 1,591 (559) 5,261
Forecast for future new spending and top-down adjustment 1,954 1,954
Total Crown expenses (excluding losses) 73,652 33,694 15,532 (27,729) 95,149
Statement of Financial Position for the year ended 30 June 2015
Core Crown
2015
Forecast
$m
Crown entities
2015
Forecast
$m
State-Owned
Enterprises
2015
Forecast
$m
Inter-segment
eliminations
2015
Forecast
$m
Total Crown
2015
Forecast
$m

Assets

Cash and cash equivalents 9,163 2,333 1,616 (178) 12,934
Receivables 9,726 5,423 2,114 (1,891) 15,372
Other financial assets 50,140 32,184 20,211 (16,373) 86,162
Property, plant and equipment 31,342 53,900 31,401 116,643
Equity accounted investments 34,940 8,379 644 (33,841) 10,122
Intangible assets and goodwill 1,318 490 966 2,774
Inventory and other assets 1,434 379 1,273 (33) 3,053
Forecast for new capital spending and top-down adjustment 1,126 1,126
Total assets 139,189 103,088 58,225 (52,316) 248,186

Liabilities

Borrowings 92,597 5,596 30,025 (15,724) 112,494
Other liabilities 27,585 43,459 7,929 (6,703) 72,270
Total liabilities 120,182 49,055 37,954 (22,427) 184,764
Total assets less total liabilities 19,007 54,033 20,271 (29,889) 63,422

Net worth

Taxpayers' funds 3,453 27,563 9,100 (36,917) 3,199
Reserves 15,554 26,437 10,305 3,330 55,626
Net worth attributable to minority interest 33 866 3,698 4,597
Total net worth 19,007 54,033 20,271 (29,889) 63,422

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