Australian Government, 2007‑08 Budget

Australian Government financial statements

Table 8: Australian Government general government sector operating statement

Table 8: Australian Government general government sector operating statement

  1. Consistent with ABS GFS classification, other employee related expenses are reported under other operating expenses. Total employee expenses equals wages and salaries plus other operating expenses.
  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 other revaluation of assets and liabilities.
  4. The term fiscal balance is not used by the ABS.
  5. The month of June is derived by deducting May year‑to‑date published data from the annual outcome. Statistically, June movements in some series relate to earlier published months that are not reissued, this can result in negative movements.

Table 9: Australian Government general government sector balance sheet

Table 9: Australian Government general government sector balance sheet

  1. The movement in loans largely reflects a reclassification since Budget of swap principle payable between investments, loans and placements and loans.
  2. Net worth is calculated as total assets minus total liabilities.
  3. Net financial worth equals total financial assets minus total liabilities. That is, it excludes non‑financial assets.
  4. Net financial liabilities equals total liabilities less financial assets other than investments in other public sector entities.
  5. 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.
  6. Net debt includes the impact of the Future Fund rebalancing its portfolio allocation by increasing its holding of equities, which are not included in the calculation of net debt.

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

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

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

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

  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.
  4. The month of June is derived by deducting May year‑to‑date published data from the annual outcome. Statistically, June movements in some series relate to earlier published months that are not reissued, this can result in negative movements.

Table 11: Australian Government public non‑financial corporations sector operating statement

Table 11: Australian Government public non‑financial corporations sector operating statement

  1. Consistent with ABS GFS classification, other employee related expenses are reported under other operating expenses. Total employee expenses equals wages and salaries plus other operating expenses.
  2. The term fiscal balance is not used by the ABS.

Table 12: Australian Government public non‑financial corporations sector balance sheet

Table 12: Australian Government public non‑financial corporations sector balance sheet

  1. Excludes the impact of commercial taxation adjustments.
  2. Under AASB 1049, net worth is calculated as total assets minus total liabilities. Under ABS GFS, net worth is calculated as total assets minus total liabilities minus shares and other contributed capital.
  3. Under AASB 1049, net financial worth equals total financial assets minus total liabilities. That is, it excludes non‑financial assets. Under ABS GFS, net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital.
  4. Net debt equals the sum of deposits held, advances received and borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 13: Australian Government public non‑financial corporations sector cash flow statement(a)

Table 13: Australian Government public non‑financial corporations sector cash flow statement(a)

  1. A positive number denotes a cash inflow; a negative sign denotes a cash outflow.
  2. Previous year opening cash has changed since Budget.
  3. The acquisition of assets under finance leases decreases the surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 14: Australian Government total non‑financial public sector operating statement

Table 14: Australian Government total non‑financial public sector operating statement

  1. Consistent with ABS GFS classification, other employee related expenses are reported under other operating expenses. Total employee expenses equals wages and salaries plus other operating expenses.
  2. The term fiscal balance is not used by the ABS.

Table 15: Australian Government total non‑financial public sector balance sheet

Table 15: Australian Government total non‑financial public sector balance sheet

  1. Under AASB 1049, net worth is calculated as total assets minus total liabilities. Under ABS GFS, net worth is calculated as total assets minus total liabilities minus shares and other contributed capital.
  2. Under AASB 1049, net financial worth equals total financial assets minus total liabilities. That is, it excludes non‑financial assets. Under ABS GFS, net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital.
  3. Net debt equals the sum of deposits held, advances received and borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 16: Australian Government total non‑financial public sector cash flow statement(a)

Table 16: Australian Government total non‑financial public sector cash flow statement(a)

  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 surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 17: Australian Government public financial corporations sector operating statement

Table 17: Australian Government public financial corporations sector operating statement

  1. Consistent with ABS GFS classification, other employee related expenses are reported under other operating expenses. Total employee expenses equals wages and salaries plus other operating expenses.
  2. The term fiscal balance is not used by the ABS.

Table 18: Australian Government public financial corporations sector balance sheet

Table 18: Australian Government public financial corporations sector balance sheet

  1. Excludes the impact of commercial taxation adjustments.
  2. Under AASB 1049, net worth is calculated as total assets minus total liabilities. Under ABS GFS, net worth is calculated as total assets minus total liabilities minus shares and other contributed capital.
  3. Under AASB 1049, net financial worth equals total financial assets minus total liabilities. That is, it excludes non‑financial assets. Under ABS GFS, net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital.
  4. Net debt equals the sum of deposits held, advances received and borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 19: Australian Government public financial corporations sector cash flow statement(a)

Table 19: Australian Government public financial corporations sector cash flow statement(a)

  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 surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 20: Australian Government general government sector purchase of non‑financial assets by function

Table 20: Australian Government general government sector purchase of non‑financial assets by function

  1. Purchases of specialist military equipment are now treated as net capital investment rather than as expenses.