Part C
Agency Budget Statements
Department of the Treasury
Section 1: Overview, appropriations and budget measures summary
Department overview
The Department of the Treasury seeks to promote a sound macroeconomic environment; effective government spending and taxation arrangements; and well functioning markets, by providing sound and timely advice to the Government and assisting Treasury Ministers in the administration of their responsibilities and in the implementation of Government decisions.
Appropriations and resourcing
The total appropriations for the Department of the Treasury in the 2003-04 Budget are $33,764.9 million. Table 1.1 on the following page shows the total by administered appropriations, price of output appropriations and administered capital.
Table 1.2 details funding provided for new budget measures in 2003-04.
Department of the Treasury - appropriations 2003-04
Table 1.1: Appropriations and other revenue
(1) C1, E1 and I1 refer to information provided in Table 2.1.1 (page 19), Table 2.1.2 (page 22) and Table 2.1.3 (page 28) respectively. K1 and K2 refer to information provided in Table 3.1 (page 37) and Table 3.6 (page 42) respectively. K3 and K4 refer to information provided in Table 3.4 (page 40) and Table 3.9 (page 45) respectively.
(2) Under the appropriation structure, Bill No. 2 includes specific purpose payments (SPPs) and administered capital.
(3) Refer to Budgeted Departmental Statement of Financial Performance in Table 3.1 (page 37) for application of price of outputs (that is agency revenue).
(4) Revenue from other sources includes revenue from sources other than government (for example, goods and services). Departmental and administered revenues are detailed in Table 1.3 (page 12).
(5) Estimated expenses from special appropriations are shown in Table 1.4 (page 13).
Note: Percentage figures indicate the percentage contribution of revenues from government (departmental appropriations) to the total price of outputs.
Measures - Department of the Treasury summary
Table 1.2: Summary of measures disclosed in the 2003-04 Budget
(1) These two measures are capital measures.
Departmental and administered revenues
Table 1.3: Departmental and administered revenues
This table shows departmental and administered revenues for the Department of the Treasury. Appropriation revenues have been included so that the total revenues link back to the budgeted financial statements.
The total estimated departmental revenues for 2003-04 of $148.7 million corresponds to total revenues in the Budgeted Departmental Statement of Financial Performance, Table 3.1, on page 37.
The total estimated administered revenues for 2003-04 of $4,382.2 million corresponds to total revenues in the Budgeted Administered Statement of Financial Performance, Table 3.6, on page 42.
The Department of the Treasury has no receipts that relate to cost recovery arrangements associated with the Productivity Commission Report No. 15 Cost Recovery by Government Agencies.
Special appropriations
Table 1.4: Estimates of expenses from special appropriations
This table identifies expenses associated with special appropriations administered by the Department of the Treasury.
Special accounts
Table 1.5: Estimates of special account flows and balances
(1) The opening balance for 2003-04 (reference A) is the same as the closing balance for 2002-03 (reference B).
(2) The special accounts are departmental in nature and is governed by Section 20 of the Financial Management and Accountability Act 1997.
Note: Inactive special accounts are not disclosed.
This table identifies estimates of special account flows and balances. All special accounts appear under Outcome 3 in Table 2.1.3 on page 28.
Administered capital and departmental equity injections and loans
The Department of the Treasury will receive administered capital appropriations of $148.3 million in 2003-04. Of this amount $140.6 million is funded through special appropriations and $7.7 million through Appropriation Bill No. 2. These capital appropriations relate to financial assets. See Table 3.9 on page 45.
The special appropriation amount relates to capital payments for the Asian Development Bank and the HIH Assistance Scheme. The Appropriation Bill No. 2 item relates to capital payments to the European Bank for Reconstruction and Development and Australia's contribution to the International Monetary Fund's Poverty Reduction and Growth Facility.
The Department of the Treasury will receive an equity injection of $11.1 million in 2003-04. This relates to the establishment of the Australian Reinsurance Pool Corporation of $5 million and capital requirements for the Royal Australian Mint of $6.1 million. Details on these items appear in Table 3.4 Departmental Capital Budget Statement on page 40.