Appendix A: Capital Measures (Continued)
Departmental Capital Budgets — Savings
The Government will deliver savings of $710 million over three years by reducing departmental capital funding by 20 per cent in those agencies that are subject to departmental capital budgeting arrangements. This reduction will take effect from the 2012‑13 financial year onwards.
Funding provided under departmental capital budget arrangements is intended to meet the costs associated with the replacement of minor assets (assets valued at $10 million or less) and costs that are eligible to be capitalised. Affected agencies will accommodate the reduction in funding by reprioritising the replacement or maintenance of IT systems or by delaying activities such as property, plant and equipment works and replacement.
Large capital projects valued at more than $10 million (including large building and construction works and large IT projects) are not subject to departmental capital budgeting arrangements and are not affected by this measure.
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