Statement 2: Fiscal Outlook

Appendix B: Budget financial statements

The budget financial statements consist of an operating statement, balance sheet and cash flow statement for the Commonwealth general government sector. The budget financial statements are based on GFS Standards with the exception of the divergences discussed in Appendix A.

Table B1: Commonwealth general government sector operating statement

(a) Since MYEFO, GST administration costs paid by the States and small agency revenue from the sale of goods and services have been reclassified from 'Other' revenue to 'Sales of goods and services'.

Table B2: Commonwealth general government sector balance sheet

(a) Net worth is calculated as total assets minus total liabilities.

(b) Net debt equals the sum of deposits held, advances received, government securities, loans and other borrowings, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table B3: Commonwealth general government sector cash flow statement^(a)

(a) A positive number denotes a cash inflow; a negative sign denotes a cash outflow.

(b) Since MYEFO, GST administration costs paid by the States and small agency receipts from sales of goods and services have been reclassified from 'Other receipts' to 'Receipts from sales of goods and services'.

(c) The acquisition of assets under finance leases reduces the underlying cash balance. The disposal of assets previously held under finance leases improves the underlying cash balance.

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