Australian Government, 2008-09 Budget
Budget

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Department of the Treasury

Section 1: Agency overview and resources

1.1 Strategic direction

There has been no significant change to the strategic direction of the Department of the Treasury from that outlined in the Portfolio Budget Statements 2008‑09 (pages 13‑15).

The Department of the Treasury is seeking an additional $0.7 million in departmental outputs through Appropriation Bill (No. 3) 2008‑09. This relates to: an additional $2.5 million for the global financial crisis – additional funding for regulators and the Treasury measure; $1.0 million for the Council of Australian Governments ‑ implementing a national approach to the regulation of consumer credit measure; $0.3 million to assist in the implementation of operation sunlight measure; and offset by a reduction of $3.1 million to be transferred to equity injections as part of a reallocation of funds for Standard Business Reporting. The reallocation will have no net impact on the Budget.

The Department of the Treasury is also seeking an additional $11.8 million in equity injections through Appropriation Bill (No. 4) 2008‑09 as part of a reallocation of funds for Standard Business Reporting from the Australian Bureau of Statistics, the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission. The reallocation will have no net impact on the Budget.

The Department of the Treasury is also seeking an additional $3.2 million for payments to the States and Territories through Appropriation Bill (No. 4) 2008‑09 for Standard Business Reporting. This is a movement of funds from 2007‑08.

The Department of the Treasury is also seeking an additional $4.0 million for administered assets and liabilities through Appropriation Bill (No. 4) 2008‑09 for payments in relation to the HIH assistance scheme ($4.0 million) and subscriptions to international financial institutions ($0.05 million).

1.2 Agency resource statement

Table 1.1 outlines the total resourcing available from all sources for the 2008‑09 Budget year, including variations through Appropriation Bills No. 3 and No. 4, special appropriations and special accounts.

Table 1.1: Department of the Treasury resource statement - additional
estimates for 2008‑09 as at Additional Estimates December 2008

Table 1.1: Department of the Treasury resource statement - additional estimates for 2008-09 as at Additional Estimates December 2008

Table 1.1: Department of the Treasury resource statement - additional
estimates for 2008‑09 as at Additional Estimates December 2008 (continued)

Table 1.1: Department of the Treasury resource statement - additional estimates for 2008-09 as at Additional Estimates December 2008 (continued)

1. Includes transfer of $2.303 million under section 32 of the Financial Management and Accountability Act 1997 to the Office of the Auditing and Assurance Standards Board and the Office of the Australian Accounting Standards Board.

2. Appropriation Bill (No. 3) 2008‑09.

3. Appropriation Bill (No. 4) 2008‑09.

1.3 Agency measures table

Table 1.2 summarises new Government measures taken since the 2008‑09 Budget.

Table 1.2: Agency measures since Budget

Table 1.2: Agency measures since Budget

1. Details of these measures appear in the Mid‑Year Economic and Fiscal Outlook 2008‑09 on pages 184 and 185.

1.4 Additional estimates and variations

Table 1.3 details the additional estimates and variations resulting from new measures since the 2008‑09 Budget in Appropriation Bills No. 3 and No. 4. Table 1.4 details additional estimates or variations from other variations.

Table 1.3: Additional estimates and variations to outcomes from measures
since 2008‑09 Budget

Table 1.3: Additional estimates and variations to outcomes from measures since 2008­09 Budget

Table 1.4: Additional estimates and variations to outcomes from other variations

Table 1.4: Additional estimates and variations to outcomes from other variations

1.5 Breakdown of additional estimates by Appropriation Bill

The following tables detail the additional estimates sought for the Department of the Treasury through Appropriation Bills No. 3 and No. 4.

Table 1.5: Appropriation Bill (No. 3) 2008‑09

Table 1.5: Appropriation Bill (No. 3) 2008­09

1. Estimate as shown in the Portfolio Budget Statements 2008‑09.

2. Includes transfer of $2.303 million under section 32 of the Financial Management and Accountability Act 1997 to the Office of the Auditing and Assurance Standards Board and the Office of the Australian Accounting Standards Board.

Table 1.6: Appropriation Bill (No. 4) 2008‑09

Table 1.6: Appropriation Bill (No. 4) 2008­09

Section 2: Revisions to agency outcomes and planned performance

2.1 Outcomes and performance information

There has been no change to outcomes and performance information for the Department of the Treasury from that included in the Portfolio Budget Statements 2008‑09 (pages 20‑34).

Section 3: Explanatory tables and budgeted financial statements

3.1 Explanatory tables

3.1.1 Estimates of special account flows

Special accounts provide a means to set aside and record amounts used for specified purposes. Table 3.1.1 shows the expected additions (receipts) and reductions (payments) for each account used by the Department of the Treasury. The corresponding table in the Portfolio Budget Statements 2008‑09 is Table 3.1.3.

Table 3.1.1: Estimates of special account flows

Table 3.1.1: Estimates of special account flows

Note: Lloyd's Deposit Trust Special Account was transferred to Australian Prudential Regulation Authority from 23 May 2008. This was previously reported by the Department of the Treasury.

3.1.2 Estimates of variations to Average Staffing Level

Changes in Average Staffing Level (ASL) are presented in the Portfolio Additional Estimates Statements at the whole of agency level to demonstrate any movements since Budget. The ASL figures for Budget were reported in agency Portfolio Budget Statements 2008‑09 in each outcome resourcing table.

Table 3.1.2: Average Staffing Level

Table 3.1.2: Average Staffing Level

3.2 Budgeted financial statements

3.2.1 Analysis of budgeted financial statements

The Department of the Treasury is budgeting towards a departmental breakeven operating result for 2008‑09.

The Department of the Treasury has a sound financial position and currently has sufficient cash reserves to fund provisions and payables, and asset replacement, as they fall due.

3.2.2 Budgeted financial statements

Table 3.2.1: Budgeted departmental income statement
(for the period ended 30 June)

Table 3.2.1: Budgeted departmental income statement (for the period ended 30 June)

Prepared on an Australian Accounting Standards basis.

Table 3.2.2: Budgeted departmental balance sheet
(as at 30 June)

Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)

Prepared on an Australian Accounting Standards basis.

Table 3.2.3: Budgeted departmental statement of cash flows
(for the period ended 30 June)

Table 3.2.3: Budgeted departmental statement of cash flows (for the period ended 30 June)

Prepared on an Australian Accounting Standards basis.

Table 3.2.4: Departmental statement of changes in equity — summary of
movement (Budget 2008‑09)

Table 3.2.4: Departmental statement of changes in equity — summary of movement (Budget 2008-09)

Prepared on an Australian Accounting Standards basis.

Table 3.2.5: Schedule of budgeted income and expenses administered on
behalf of government (for the period ended 30 June)

Table 3.2.5: Schedule of budgeted income and expenses administered on behalf of government (for the period ended 30 June

Prepared on an Australian Accounting Standards basis.

Table 3.2.6: Schedule of budgeted assets and liabilities administered on
behalf of government (as at 30 June)

Table 3.2.6: Schedule of budgeted assets and liabilities administered on behalf of government (as at 30 June)

Prepared on an Australian Accounting Standards basis.

Table 3.2.7: Schedule of budgeted administered cash flows
(for the period ended 30 June)

Table 3.2.7: Schedule of budgeted administered cash flows (for the period ended 30 June)

Prepared on an Australian Accounting Standards basis.

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