Audited Financial Statements

Statement of Financial Performance for the year ended 30 June 2012

Statement of Financial Performance
Budget 11 $m	Budget 12 $m			30 June 2012 $m	30 June 2011 $m
Forecast 30 June 2012			Note	Actual
		Revenue
54,690	54,331	Taxation revenue	2	54,665	51,128
5,808	5,112	Other sovereign revenue	2	5,130	5,281
60,498	59,443	Total sovereign revenue		59,795	56,409
16,078	16,380	Sales of goods and services	3	16,785	15,084
3,051	2,824	Interest revenue and dividends	4	2,763	2,570
3,106	3,928	Other revenue	5	4,140	7,500
22,235	23,132	Total revenue earned through operations		23,688	25,154
82,733	82,575	Total revenue (excluding gains)		83,483	81,563
		Expenses
22,926	22,534	Transfer payments and subsidies	6	22,354	22,172
19,149	19,315	Personnel expenses	7	19,475	19,088
4,631	4,520	Depreciation and amortisation	8	6,350	4,682
37,792	36,386	Other operating expenses	9	35,678	35,829
4,685	4,173	Interest expenses	10	4,290	3,596
3,138	4,451	Insurance expenses	11	4,576	14,592
463	87	Forecast new operating spending		-	-
(310)	(450)	Top-down expense adjustment		-	-
92,474	91,016	Total expenses (excluding losses)		92,723	99,959
(9,741)	(8,441)	Operating balance before gains/(losses)		(9,240)	(18,396)
1,973	917	Net gains/(losses) on financial instruments	12	692	4,619
172	(3,371)	Net gains/(losses) on non-financial instruments	13	(6,526)	79
2,145	(2,454)	Total gains/(losses)		(5,834)	4,698
303	253	Net surplus from associates and joint ventures		233	237
(7,293)	(10,642)	Operating balance (including minority interest)		(14,841)	(13,461)
-	-	Operating balance attributable to minority interests		(56)	101
(7,293)	(10,642)	Operating balance		(14,897)	(13,360)

The accompanying notes (including accounting policies) are an integral part of these statements.

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