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Audited Financial Statements

Statement of Financial Performance for the year ended 30 June 2014

Statement of Financial Performance for the year ended 30 June 2014
Forecast Note Actual
Budget
2013
$m
Budget
2014
$m
30 June
2014
$m
30 June
2013
$m
Revenue  
61,773 61,380 Taxation revenue 2 60,879 58,134
5,296 5,383 Other sovereign revenue 2 5,450 5,172
67,069 66,763 Total sovereign revenue 66,329 63,306
17,080 16,432 Sales of goods and services 3 16,472 16,713
3,588 3,160 Interest revenue and dividends 4 3,175 2,939
3,867 3,622 Other revenue 5 3,420 3,697
24,535 23,214 Total revenue earned through operations 23,067 23,349
91,604 89,977 Total revenue (excluding gains) 89,396 86,655
Expenses  
23,485 23,394 Transfer payments and subsidies 6 23,360 22,708
20,172 20,488 Personnel expenses 7 20,484 19,935
4,640 4,644 Depreciation and amortisation 8 4,872 4,812
37,608 36,527 Other operating expenses 9 35,553 36,163
4,516 4,461 Interest expenses 10 4,400 4,358
3,215 3,283 Insurance expenses 11 3,501 3,031
461 77 Forecast new operating spending
(600) (660) Top-down expense adjustment
93,497 92,214 Total expenses (excluding losses) 92,170 91,007
(140) (210) Minority interests share of operating balance before gains and losses (159) (62)
(2,033) (2,447) Operating balance before gains and losses (excluding minority interests) (2,933) (4,414)
1,748 3,604 Net gains/(losses) on financial instruments 12 4,820 7,270
443 1,590 Net gains/(losses) on non-financial instruments 13 540 3,706
2,191 5,194 Total gains/(losses) 5,360 10,976
200 259 Net surplus from associates and joint ventures 360 395
(33) Minority interests share of net gains/losses 21 (32)
358 2,973 Operating balance (excluding minority interests) 2,808 6,925
Operating balance allocated between:  
358 2,973 Operating balance (excluding minority interests) 2,808 6,925
140 243 Minority interests share of operating balance 28 138 94
498 3,216 Operating balance (including minority interests) 2,946 7,019

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

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