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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15

Part 1: Agency Resourcing — Appropriations required by Agencies (continued)

1.3 Estimated Cash Flows and Balances for Special Accounts

Some special appropriations take the form of a special account. A special account is an appropriation mechanism that sets aside an amount within the CRF for specific expenditure purposes. Special accounts are a method of delivering programmes that are resourced with contributions from another party such as other governments, contributions from industry or members of the community. In certain instances, a special account may be credited with amounts from annual appropriations, special appropriations or investment income.

Table 1.3 lists estimates for all Special Accounts, for the budget year and previous year. The table shows, by portfolio and agency, estimated balances and flows for each Special Account. Special Accounts marked with an * were abolished in the previous year.

There is an important distinction in the way receipts into Special Accounts are displayed in Table 1.3, Estimated Cash Flows and Balances for Special Accounts, and in Table 1.1, Agency Resourcing. The former distinguishes between appropriated and non‑appropriated receipts into Special Accounts, while the Agency Resourcing Table shows only estimates of non‑appropriated receipts to avoid double‑counting in relation to receipts provided by other appropriated sources. Table 1.1 and 1.3 both include estimates of public money that is not held on account of the Commonwealth or for the use or benefit of the Commonwealth.

In relation to specific Special Accounts announced at this Budget, the Government will establish an Asset Recycling Fund (ARF) from 1 July 2014 and a Medical Research Future Fund (MRFF) from 1 January 2015. Funding for the ARF will include uncommitted amounts from the Building Australia Fund (BAF) and the Education Investment Fund (EIF). Funding for the MRFF will include uncommitted amounts from the Health and Hospitals Fund (HHF). The BAF, the EIF and the HHF will be closed on 31 December 2014. Remaining amounts will be reappropriated to meet the residual commitments of the funds. Further details of these arrangements, including changes to special accounts, will be reflected in future legislation, appropriation bills and related documentation.