Portfolio Budget Statements and Budget Papers
Comprehensive information on all government decisions announced in the Budget are in Budget Paper No. 2, Budget Measures 2007-08. The PB Statements include Budget measures in each agency’s Table 2.2, 2007-08 Budget Measures.
The following chart shows the parts of PB Statements which relate to specific Budget papers.
| Budget Paper | PB Statements |
| Budget Paper No. 1: Budget Strategy and Outlook | |
| Statement 1: Fiscal Strategy and Budget Priorities Overview of the fiscal and economic outlook |
Portfolio structure (Agency) Overview (Agency) Resources for 2007-08 |
| Statement 2: Fiscal Outlook Budget aggregates and variations to the fiscal balance estimates |
(Agency) Resources for 2007-08 |
| Statement 10: AAS Financial Statements Accrual financial statements for the general government sector |
(Agency) Budgeted financial statements |
| Budget Paper No. 2: Budget Measures | |
| Budget revenue, expense and capital measures | (Agency) Resources for 2007-08 |
| Budget Paper No. 3: Federal Financial Relations | |
| Information on the Australian Government’s relations with States, Territories and local government, in particular, Specific Purpose Payments | (Agency) Resources for 2007‑08 (Agency) Outcomes |
| Budget Paper No. 4: Agency Resourcing | |
| Resourcing for Australian Government agencies, including Appropriation Bills | (Agency) Resources for 2007‑08 |
Departmental and administered distinction
Under the Australian Government’s accrual-based budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies decide (departmental transactions) are separately budgeted for and reported on from transactions agencies make on behalf of others (administered transactions). This ensures that the transactions decided by agencies are reported separately from other transactions in their accounts.
| Departmental |
| Income, expenses, assets and liabilities in relation to an agency or authority that are controlled by the agency. Departmental expenses include employee and supplier expenses and other administrative costs, which are incurred by the agency in providing its goods and services. |
| Administered |
| Income, expenses, assets and liabilities that are managed by an agency or authority on behalf of the Government according to set Government directions. Administered expenses include subsidies, grants and personal benefit payments and administered revenues include taxes, fees, fines and excises. |
Appropriations in the accrual budgeting framework
In the accrual budgeting framework, separate annual appropriations are provided for:
- Departmental price of outputs appropriations: representing the Government’s funding for outputs from agencies;
- Departmental capital appropriations for investments by the Government for either additional equity or loans to agencies or payments from previous years’ outputs;
- Administered expense appropriations: for the estimated administered expenses relating to an existing outcome, a new outcome or a Specific Purpose Payment to the States and Territories; and
- Administered capital appropriations: for increases in administered equity through funding non-expense administered payments.
Special appropriations fund the majority of payments from the Consolidated Revenue Fund (especially those that are entitlement driven or involve transfers to State governments). The appropriation framework is discussed further in the introduction to Budget Paper No. 4, Agency Resourcing 2007-08.
Components of agency financial statements
Reporting requirements for budgeted financial statements differ between agencies (for example, according to whether the agency participates in administered transactions). Therefore, not all agencies are required to report against all schedules.
The budgeted financial statements contain the estimates prepared in accordance with the requirements of the government’s financial budgeting and reporting framework, including the principles of the Australian Accounting Standards and Statements of Accounting Concepts, as well as specific guidelines issued by the Department of Finance and Administration. They show the planned financial performance for the 2007-08 Budget year and each of the forward years from 2008-09 to 2010-11. The statements also include the estimated actual for 2006-07 for comparative purposes.
The schedules included in the budgeted financial statements for 2007-08 are as follows.
| Schedule | Purpose |
| Budgeted departmental income statement | Shows the expected financial results for the agency. Identifies full accrual expenses and revenues, which highlights whether the agency is operating at a sustainable level. |
| Budgeted departmental balance sheet | The financial position of the agency. It helps decision makers to track the management of assets and liabilities. |
| Budgeted departmental statement of cash flows | Provides information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities. |
| Departmental statement of changes in equity — summary of movement | Represents the movement of parent entity (the Commonwealth) interest in the agency. The statement has been prepared to reflect the surplus/deficit, movements of capital return and additional capital injections from the Commonwealth during the Budget year. |
| Departmental capital budget statement | Shows all planned departmental capital expenditure (capital expenditure on non-financial assets), whether funded through capital appropriations for additional equity or borrowings, or from funds from internal sources. |
| Departmental property, plant, equipment and intangibles — summary of movement | Shows budgeted acquisitions and disposals of non-financial assets during the Budget year. |
| Schedule of budgeted income and expenses administered on behalf of government | Identifies the main revenues and expenses administered on behalf of government. |
| Schedule of budgeted assets and liabilities administered on behalf of government | Shows the assets and liabilities administered on behalf of government. |
| Schedule of budgeted administered cash flows | Shows cash flows administered on behalf of government. |
| Schedule of administered capital budget | Shows details of planned administered capital expenditure. |
| Schedule of administered property, plant, equipment and intangibles — summary of movement | Discloses details of movements in administered non-financial assets. |