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National Competition Council

Section 3: Budgeted Financial Statements

The budgeted financial statements will form the basis of the financial statements that will appear in the National Competition Council's 2000-01 Annual Report and form the basis for the input into the Whole of Government Accounts. The financial statements should be read in conjunction with the accompanying notes.

The budgeted financial statements have been prepared in accordance with the GST accounting guidelines of the Urgent Issues Group (UIG) of the Australian Accounting Research Foundation. The UIG consensus requires that expenses and assets be accounted for net of recoverable GST, revenues be accounted for net of GST payable and that cash flows and accounts payable and receivable be reported gross. Appropriations are thus net of recoverable GST amounts.

Budget Statement of Revenues and Expenses (Budget Operating Statement)

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

Budget Statement of Assets and Liabilities (Budget Balance Sheet)

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

Budget Cash Flow Statement

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

Capital Budget Statement

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 NCC's non-financial assets over the Budget year 2000-01.

Table 3.1: Agency Budget Statement of Revenues and Expenses
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Operating revenue
Revenues from Government	3,271	3,280	2,977	3,028	3,089
Sales of goods and services	30	30	31	32	33
Other	96	-	-	-	-
Total operating revenues	3,397	3,310	3,008	3,060	3,122
Operating expenses
Employees	1,631	1,707	1,705	1,741	1,775
Suppliers	1,536	1,462	1,193	1,192	1,222
Depreciation and amortisation	112	112	112	112	112
Total operating expenses	3,280	3,281	3,010	3,044	3,109
Operating surplus or deficit before abnormal and extraordinary items	117	28	-2	16	13
Operating surplus or deficit after abnormal and extraordinary items	117	28	-2	16	13
Aggregate of amounts transferred to/from	-116	29	27	44	57
Capital use charge paid	-	-	-	-	-
Operating surplus or deficit after abnormal and extraordinary items and CUC	1	29	27	44	57

Table 3.2: Agency Budget Statement of Assets and Liabilities
(as at 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Assets
Financial assets
Cash	169	239	270	331	390
Receivables	3	3	4	4	4
Total financial assets	172	242	274	335	394
Non-financial assets
Land and buildings	195	195	195	195	195
Infrastructure, plant and equipment	122	107	92	77	62
Inventories	6	6	6	6	6
Other	23	23	23	23	23
Total non-financial assets	346	331	316	301	286
Total assets	518	573	590	636	680
Liabilities
Provisions and payables
Employees	421	451	479	509	539
Suppliers	59	56	47	46	47
Other	37	37	37	37	37
Total provisions and payables	517	544	563	592	623
Total liabilities	517	544	563	592	623
Equity
Accumulated surplus or deficit	1	29	27	44	57
Total equity	518	573	590	636	680
Current liabilities	284	299	309	326	343
Non-current liabilities	233	184	254	266	280
Current assets	172	242	274	335	345
Non-current assets	346	331	316	301	286

Table 3.3: Agency Budget Cash Flow Statement
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Operating activities
Cash received
Appropriations for outputs	3,271	3,280	2,977	3,028	3,089
Sale of goods and services	85	30	31	32	33
Total cash received	3,356	3,310	3,008	3,060	3,122
Cash used
Employees	1,604	1,678	1,769	1,808	1,842
Suppliers	1,563	1,465	1,203	1,190	1,220
Property purchases	20	120	120	120	60
Total cash used	3,187	3,263	3,092	3,118	3,122
Net cash from operating activities	169	47	-84	-58	-
Net increase in cash held
Cash at the beginning of the reporting period	-	169	216	132	74
Cash at the end of the reporting period	169	216	132	74	74

Table 3.4: Agency Capital Budget Statement
(for the period ended 30 June)

	Estimated Actual 1999-00 $'000	Budget Estimate 2000-01 $'000	Forward Estimate 2001-02 $'000	Forward Estimate 2002-03 $'000	Forward Estimate 2003-04 $'000
Capital appropriations
Previous years carryover	96	-	-	-	-
Total loans	-	-	-	-	-
Represented by
Purchase of non-current assets	25	20	20	20	20
Other	-	100	100	100	40
Total	25	20	20	-	-
Purchase of non-funded current assets
Funded by capital appropriations	-	-	-	-	-
Funded internally by agency resources	25	120	120	120	60

Table 3.5: Agency Non-financial Assets - Summary of Movement

	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 2000 (opening)		342	342	231	-	-	573
Additions	-	20	20	5	-	-	25
Disposals	-	-	-	-	-	-	-
Other movements	-	-	-	-	-	-	-
As at 30 June 2001 (closing)	-	362	362	236	-	-	598
Accumulated depreciation
As at 1 July 2000 (opening)	-	208	208	95	-	-	303
Disposals	-	-	-	-	-	-	-
Charge for the reporting period	-	61	61	11	-	-	72
Other movements	-	-	-	-	-	-	-
As at 30 June 2001 (closing)	-	269	269	106	-	-	375
Net book value as at 30 June 2001 (Closing book value)	-	93	93	130	-	-	223
Net book value as at 1 July 2000 (Opening book value)	-	-	134	137	-	-	271

Total additions

Self funded	-	-	20	5	-	-	25
Appropriations	-	-	-	-	-	-	-
Total	-	-	20	5	-	-	25