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Portfolio Budget Statements
Productivity Commission

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Section 3: Budget Financial Statements

The budget financial statements will form the basis of the financial statements that will appear in the Productivity Commission's 1999-2000 Annual Report, and form the basis for the input into the Whole of Government Accounts.

Budget Statement of Revenues and Expenses (Budget Operating Statement)

This statement provides a picture of the expected financial results for the PC by identifying full accrual expenses and revenues, which highlights whether the PC is operating at a sustainable level.

Budget Statement of Assets and Liabilities (Budget Balance Sheet)

This statement shows the financial position of the PC. It enables decision makers to track the management of the PC's assets and liabilities.

Budget Cash Flow Statement

This statement identifies expected cash flows from operating activities, investing activities and financing activities.

Capital Budget

This statement shows all proposed capital expenditure funded through the Budget as appropriations or from internal sources.

Non-financial Assets -- Summary of Movement

This statement shows the movement in the PC's non-financial assets over the Budget year 1999-2000.

Table 3.1: Budget Statement of Revenue and Expenses


Estimated Actual
Estimated

1998-99
$'000(b)		 1999-00
$'000		 2000-01
$'000		 2001-02
$'000		 2002-03
$'000
Agency Revenue and Expenses          
Revenue          
Revenue from government          
Ordinary annual appropriations (net appropriations) 23,011 21,662 21,392 21,430 21,633
Resources received free of charge(a) 50 40 40 40 40
Revenue from other sources - - - - -
Sales of goods and services 193 195 195 195 195
Other revenue from other sources - 193 193 193 193
Total Revenue 23,254 22,090 21,820 21,858 22,061
Expenses          
Employees 15,279 14,479 14,506 14,508 14,555
Depreciation and amortisation 762 762 792 792 792
Other costs of providing goods and services 7,213 6,849 6,522 6,558 6,714
Total Expenses 23,254 22,090 21,820 21,858 22,061
Operating Result before Capital User Charge - - - - -
Capital User Charge - - - - -
Transfers and Dividends - - - - -
Accumulated Results at Year End - - - - -
  1. It should be noted that resources received free of charge included in the revenue figure above is excluded from the total price of outputs appropriations in section 2.
  2. Figures in this column are on a cash basis.
    Note: The PC does not have any Administered items.

Table 3.2: Budget Statement of Assets and Liabilities

  Estimated Actual   Estimated

1998-99
$'000		 1999-00
$'000		 2000-01
$'000		 2001-02
$'000		 2002-03
$'000
Agency Assets and Liabilities          
Debt          
Leases 50 40 30 20 10
Other - - - - -
Total Debt 50 40 30 20 10
Provisions and Payables          
Employees 4,639 4,836 4,947 5,060 5,220
Suppliers 225 207 198 201 199
Total Provisions and Payables 4,914 5,083 5,175 5,281 5,429
Equity          
Accumulated results -331 -331 -331 -331 -331
Total Equity -331 -331 -331 -331 -331
Total Liabilities and Equity 4,583 4,752 4,844 4,951 5,098
Financial Assets          
Cash 20 1,811 2,343 2,866 3,431
Receivables 1,468 36 15 15 15
Total Financial Assets 1,488 1,847 2,358 2,881 3,446
Non-financial Assets          
Infrastructure, plant and equipment 2,599 2,377 2,044 1,711 1,378
Intangibles 340 373 285 198 111
Other 156 156 157 161 164
Total Non-financial Assets 3,095 2,905 2,486 2,070 1,653
Total Assets 4,583 4,752 4,844 4,951 5,099

Note: The PC does not have any Administered items.

Table 3.3: Budget Cash Flow Statement


Estimated Actual
Estimated

1998-99
$'000		 1999-00
$'000		 2000-01
$'000		 2001-02
$'000		 2002-03
$'000
Agency Cash Flows          
Operating Activities          
Cash Received          
Appropriations 22,699 22,582 21,101 21,118 21,321
Sales of goods and services 133 135 135 135 135
Total Cash Received 22,832 22,717 21,236 21,253 21,456
Cash Used          
Employees 15,969 14,282 14,395 14,395 14,395
Suppliers 6,863 6,644 6,309 6,335 6,496
Total Cash Used 22,832 20,926 20,704 20,730 20,891
Net Cash from Operating Activities - 1,791 532 523 565
Financing Activities          
Cash Received          
Total Cash Received - - - - -
Cash Used          
Total Cash Used - - - - -
Net Cash from Financing Activities - - - - -
Investing Activities          
Cash Received          
Appropriations 312 512 312 312 312
Proceeds from sale of property, plant and equipment
60
60
60
60
60
Total Cash Received 372 572 372 372 372
Cash Used          
Purchase of property, plant and equipment 372 572 372 372 372
Total Cash Used 372 572 372 372 372
Net increase/decrease in cash held - 1,791 532 523 565
Add cash as at 1 July 20 20 1,811 2,343 2,866
Cash as at 30 June 20 1,811 2,343 2,866 3,431

Note: The PC does not have any Administered items.

CAPITAL BUDGET

The Productivity Commission will not receive a Capital Appropriation, but will internally fund the purchase of non-current assets, including finance leases from its Agency resources.

Table 3.4: Capital Budget



Estimated
Purchase of Non-current Assets 1999-00
$'000		 2000-01
$'000		 2001-02
$'000		 2002-03
$'000
Funded by capital appropriations - - - -
Funded internally by Agency resources 572 372 372 372
Total 572 372 372 372


T able 3.5: Non-financial Assets -- Summary of Movement
Budget Year 1999-2000


Land



$'000		 Buildings



$'000		 Total Land and Buildings

$'000 		Other Infrastructure, Plant and Equipment
$'000 		Total Infrastructure, Plant and Equipment
$'000 		Intangibles



$'000		 Total



$'000
Gross Value              
As at 1 July 1999 (opening) - - - 4,988 4,988 437 5,425
Additions - - - 452 45 120 572
Disposals - - - 352 352 20 372
Other movements - - - - - - -
As at 30 June 2000 - - - 5,088 5,088 537 5,625
Accumulated Depreciation  





As at 1 July 1999 (opening) - - - 2,389 2,389 107 2,496
Disposals - - - 352 352 20 372
Charge for the reporting period - - - 675 675 87 762
Other movements - - - - - - -
As at 30 June 2000 - - - 2,711 2,711 174 2,885
Net Book Value as at 30 June 2000 (Closing Book Value)
-
-
-
2,377
2,377
373
2,750
Net Book Value as at 1 July 1999 (Opening Book Value)
-
-
-
2,599
2,599
340
2,939

Total Additions


Land



$'000		 Buildings



$'000		 Total land and buildings

$'000 		Other infrastructure, plant and equipment
$'000 		Total infrastructure, plant and equipment
$'000 		Intangibles



$'000		 Total



$'000
Self funded - - - 452 452 120 572
Appropriations - - - - - - -
Total - - - 452 452 120 572

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