Section 2: Resources for 2006-07

2.1 Appropriations and other resources

The total appropriations and other resources for the agency in the 2006-07 Budget is $97.6 million.

Table 2.1 shows the total resources from all origins for 2006-07, including appropriations. The table summarises how resources will be applied by outcome, administered and departmental classification.

Table 2.1: Appropriations and other resources 2006-07

2.2 2006-07 budget measures

Budget measures relating to the Australian Prudential Regulation Authority as explained in Budget Paper No. 2, Budget Measures 2006-07 are summarised in Table 2.2. The table also identifies the relevant outcomes, administered items and outputs associated with each measure.

Table 2.2 Australian Prudential Regulation Authority measures

2.3 Other resources available to be used

Table 2.3 provides details of resources obtained by APRA for provision of goods or services. These resources are approved for use by APRA and are also included in Table 2.1.

Table 2.3: Other resources available to be used

Goods and services of $4.3 million in the above table represent cost recoveries for activities described more fully in Section 4.2 Cost Recovery Arrangements. Further implementation of the Basel II capital accord is expected to yield recoveries of $3.0 million, statistical services for the Reserve Bank of Australia and the Australian Bureau of Statistics a further $0.6 million, and licensing of superannuation funds $0.3 million in 2006-07. Other minor amounts including $0.1 million from AusAID projects are also anticipated.

2.4 Movement of administered funds from 2005-06 to 2006-07

Table 2.4: Movement of administered funds from 2005-06 to 2006-07

APRA does not have any movement of administered funds.

2.5 Special appropriations

Table 2.5: Estimates of expenses from special appropriations

1. Funding of APRA’s operations.
2. Refund of overpayment of levies by financial institutions from administered funds (refer Table 5.7).

2.6 Special accounts

Special accounts provide a means to set aside and record amounts used for specified purposes. Table 2.6 shows the expected additions (credits) and reductions (debits) for each account used by APRA.

Table 2.6: Estimates of special account flows and balances

The Superannuation Protection Account was established under Section 234 of the Superannuation Industry (Supervision) Act 1993 to facilitate the recovery of financial assistance provided to superannuation fund members suffering adverse outcomes from fraud and misappropriation by fund trustees. There have been no transactions to this account to date. Several rounds of financial assistance have been made to a number of superannuation funds by Treasury directly from the Consolidated Revenue Fund (CRF) in recent financial years. To date, APRA, on behalf of Treasury, has imposed two Financial Assistance Levies on the superannuation industry to recover assistance funds granted up to 2004-05, the proceeds of which were returned directly to the CRF. Further levies to recover other assistance provided by Treasury is anticipated, but is unlikely to impact on the special account in 2006-07.

2.7 Administered capital and departmental equity injections and loans

APRA does not have an appropriation for administered capital, departmental equity injection or loan in the 2006-07 Budget.