Attachment B: Budget financial statements

The budget financial statements consist of an operating statement, balance sheet, cash flow statement and statement of other economic flows (reconciliation of net worth) for the Australian Government general government sector. The budget financial statements are based on GFS standards with the exception of the departures discussed in Attachment A.

Table 8: Australian Government general government sector operating statement

1. Includes a reclassification for outcomes of non-cash personal benefits from personal benefit payments in cash to payment for supply of goods and services.
2. The term fiscal balance is not used by the ABS.

Table 9: Australian Government general government sector balance sheet

1. Equity includes share holdings of the Future Fund.
2. Defence weapon inventories have been separately identified and expensed at the time of acquisition.
3. Net worth is calculated as total assets minus total liabilities.
4. Net debt equals the sum of deposits held, advances received, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid and investments, loans and placements.

Table 10: Australian Government general government sector cash flow statement^(a)

Table 10: Australian Government general government sector cash flow statement^(a)
(continued)

1. A positive number denotes a cash inflow, a negative sign denotes a cash outflow.
2. The acquisition of assets under finance leases decreases the underlying cash balance. The disposal of assets previously held under finance leases increases the underlying cash balance.
3. The term underlying cash balance is not used by the ABS.

Table 11: Australian Government general government sector statement of other
economic flows (reconciliation of net worth)

1. Change in net worth arising from a change in 2005-06 outcomes.
2. Revaluations of equity reflects changes in the market valuation of investments. This line also reflects any equity revaluations at the point of disposal or sale.
3. Largely reflects revaluation of assets and liabilities.