Final Budget Outcome
THE HONOURABLE WAYNE SWAN MP
TREASURER OF THE COMMONWEALTH OF AUSTRALIA
THE HONOURABLE LINDSAY TANNER MP
MINISTER FOR FINANCE AND DEREGULATION
FOR THE INFORMATION OF HONOURABLE MEMBERS
© Commonwealth of Australia 2009
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The Final Budget Outcome 2008-09 has been prepared in a manner consistent with the Charter of Budget Honesty Act 1998(the Charter). The Charter requires that, inter alia, the Government provide a final budget outcome report no later than three months after the end of the financial year. Consistent with these requirements, this report encompasses Australian Government general government sector fiscal outcomes for the 2008-09 financial year and is based on external reporting standards.
- Part 1 provides the general government sector budget aggregates for 2008-09 together with an analysis of the 2008-09 final budget outcome. This includes summary analysis of revenue, expenses, net capital investment, cash flows and the balance sheet (net debt, net financial worth and net worth).
- Part 2 presents the Australian Government financial statements for 2008-09 with the Australian Bureau of Statistics (ABS) Government Finance Statistics (GFS) as the basis for accounting policy, except for where the Government has decided to depart because Australian Accounting Standards provide a better conceptual treatment for presenting information of relevance to users of public sector financial reports. This data covers the general government sector as well as the Australian Government public corporations sectors.
- Part 3 provides details for 2008-09 on Australia's Federal Relations, updated from that contained in the 2009-10 Budget Paper No. 3, Australia's Federal Relations.
- Appendix A contains expenses data on a functional and sub-functional basis. Historical fiscal data are presented in Appendix B.
(a) The following definitions are used in this paper:
- 'real' means adjusted for the effect of inflation;
- real growth in expenses is measured by the Consumer Price Index (CPI); and
- one billion is equal to one thousand million.
(b) Figures in tables and generally in the text have been rounded. Discrepancies in tables between totals and sums of components are due to rounding:
- estimates under $100,000 are rounded to the nearest thousand;
- estimates $100,000 and over are generally rounded to the nearest tenth of a million;
- estimates midway between rounding points are rounded up; and
- the percentage changes in statistical tables are calculated using unrounded data.
(c) For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
(d) The following notations are used:
- not elsewhere classified
- Australian Eastern Standard Time
- not available
- not zero, but rounded to zero
- not applicable (unless otherwise specified)
- not for publication
- $ million
- $ billion
(e) References to the 'States' or 'each State' include the Territories. The Australian Capital Territory and the Northern Territory are referred to as 'the Territories'. The following abbreviations are used for the names of the States, where appropriate:
- New South Wales
- Western Australia
- South Australia
- Australian Capital Territory
- Northern Territory
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