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Statement 9: Budget Financial Statements

Table 1: Australian Government general government sector operating
statement

1. Consistent with ABS GFS classification, employee expenses cover wages and salaries. Other employee related expenses are reported under 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.

Table 2: Australian Government general government sector balance
sheet

1. Net worth is calculated as total assets minus total liabilities.
2. Net financial worth equals total financial assets minus total liabilities. That is, it excludes non‑financial assets.
3. Net financial liabilities equals total liabilities less financial assets other than investments in other public sector entities.
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.
5. The net debt estimates include the expected 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 3: Australian Government general government sector cash flow
statement^(a)

Table 3: 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.

Table 4: Australian Government public non‑financial corporations sector
operating statement

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

Table 5: Australian Government public non‑financial corporations sector
balance sheet

1. Excludes the impact of commercial taxation adjustments.
2. Under AASB1049, 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 AASB1049, 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 6: 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. 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 7: Australian Government total non‑financial public sector
operating statement

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

Table 8: Australian Government total non‑financial public sector
balance sheet

1. Under AASB1049, 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 AASB1049, 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 9: 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.

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