Section 3: Explanatory tables and budgeted financial statements
Section 3 presents budgeted financial statements which provide a comprehensive snapshot of agency finances for the budget year 2008‑09. It explains how budget plans are incorporated into the financial statements and provides further details of movements in special accounts.
3.1 Explanatory tables
3.1.1 Reconciliation of total available appropriation and outcomes
The Agency Resource Statement (Table 1.1) details the total available appropriation to the ABS from all sources. For departmental operating appropriations (outputs) this includes carry‑forward amounts as well as amounts appropriated at budget. As the ABS incurs and is funded for future liabilities, generally depreciation and employee entitlements, the total amount of departmental operating appropriation available to the ABS is unlikely to be fully utilised in the budget year. The difference between the agency resource statements and the sum of all payments made at the departmental outputs level is the expected carry‑forward amount of resources for the 2009‑10 budget year, including amounts related to meeting future obligations to maintain the ABS' asset base and to meet employee entitlement liabilities.
Table 3.1.1: Reconciliation of total available appropriation and outcomes
3.1.2 Movement of administered funds between years
Table 3.1.2: Movement of administered funds between years
The ABS does not have any administered funds.
3.1.3 Special accounts
Special accounts provide a means to set aside and record amounts used for specified purposes. Special accounts can be created by a Finance Minister's Determination under the Financial Management and Accountability Act 1997 (FMA Act) or under separate enabling legislation. Table 3.1.3 shows the expected additions (receipts) and reductions (payments) for the account used by the ABS.
Table 3.1.3: Estimates of special account cash flows and balances
3.1.4 Australian Government Indigenous Expenditure
Table 3.1.4: Australian Government Indigenous Expenditure
The ABS does not have any Australian Government Indigenous Expenditure.
3.2 Budgeted financial statements
3.2.1 Differences in agency resourcing and financial statements
There are no material differences between the resource information presented in the Budget Papers and Portfolio Budget Statements as a result of differences between Australian Accounting Standards and Government Finance Statistics.
3.2.2 Analysis of budgeted financial statements
Budgeted financial statements
Budgeted departmental income statement
There are no significant changes to the 2008‑09 budgeted departmental income statement, (Table 3.2.1), since the 2007‑08 Portfolio Additional Estimates Statements (PAES).
The decrease in appropriations in 2008‑09 reflects reduced activity relating to the census program. The increase in the forward estimates is due to the build‑up of 2011 census activities.
Goods and services revenue in 2008‑09 and the out years is expected to reduce to approximately $18 million per annum as a result of the recently introduced free publications on the web.
Budgeted departmental balance sheet
The increases in contributed equity in 2008‑09 and 2009‑10, relates to the capital injection funding provided for Standard Business Reporting and the Emissions Trading scheme (input/output tables).
Loan
The ABS received a loan to partially fund the fitout of the ABS' new national office accommodation. This will be fully repaid by 2010‑11.
3.2.3 Budgeted financial statements tables
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)
Prepared on an Australian Accounting Standards basis.
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 year 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)
The ABS does not have any administered funds.
Table 3.2.6: Schedule of budgeted assets and liabilities administered on
behalf of Government (as at 30 June)
The ABS does not have any administered funds.
Table 3.2.7: Schedule of budgeted administered cash flows
(for the period ended 30 June)
The ABS does not have any administered funds.
3.2.4 Notes to the financial statements
Basis of accounting
The budgeted financial statements have been prepared on an Australian Accounting Standards basis.
Budgeted departmental financial statements
Under the Australian Government's accrual budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (agency transactions) are budgeted and reported separately from transactions agencies do not have control over (administered transactions). This ensures that agencies are only held fully accountable for the transactions over which they have control.
Agency assets, liabilities, revenues and expenses in relation to an agency are those that are controlled by the agency. Agency expenses include employee and supplier expenses and other administrative costs, which are incurred by the agency in providing its goods and services.
Budgeted departmental income statement
Revenues
Appropriations
Under the Australian Government's accrual budgeting framework, the ABS is appropriated only for the price of its outputs, which represent the Australian Government's purchase of these agreed outputs.
Goods and Services
Revenue is derived from the sale of ABS publications and census data, as well as the provision of user‑funded surveys and consultancy work. The amount of revenue earned in any one year is dependent upon the demand for such products and services by government agencies, business and the community.
Other
This category includes resources received free of charge.
Expenses
Employees
This includes wages and salaries, superannuation, provision for annual leave and long service leave and workers compensation. Employee entitlements are based on leave patterns of ABS employees. Accrued salaries and employer superannuation contributions are based on daily salary expenses and the number of days owing at 30 June in each budget year.
Depreciation and amortisation
Depreciable assets are written off over their estimated useful lives. Depreciation is calculated using the straight‑line method, which is consistent with the consumption of the service potential of the depreciable assets of the ABS.
Budgeted departmental balance sheet
Non‑financial assets
Intangibles
These include software developed in house (internally generated software).
Other
This category includes prepayments.
Interest bearing liabilities
Loans
The ABS received a loan of $13.2 million in 2001‑02. This loan was used to partially fund the fitout of the ABS' new national office accommodation. Loan repayments will be made over a ten‑year period and are being met by the ABS from within its ongoing operational funding levels.
Other
These include lease incentives in the form of a rent‑free period and/or a contribution to fitout costs. Lease incentives are recognised as a liability, which is reduced by allocating lease rental payments between interest, rental expense and reduction of the liability. Rent free lease periods are taken up as a liability during the rent‑free period and amortised over the remaining term of the lease. The full amount of the lease is therefore allocated evenly over the total term of the lease.
Provisions
Employees
The liability for employee entitlements includes provision for annual leave and long service leave. No provision has been made for sick leave, as all sick leave is non‑vesting.
The non-current portion of the liability for annual leave and long service leave is recognised and measured at the present value of the estimated future cash flows in respect of all employees.
Payables
Supplier and other payables reflect the amounts owed to trade and other creditors by the ABS at the end of each financial year.
Asset valuation
Australian Government agencies and authorities are required to value property, plant and equipment and other infrastructure assets using the fair value method of valuation.
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