Portfolio Budget Statements 2008-09 

• 3.1 Explanatory Tables
• 3.2 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 administered funds, special accounts and government Indigenous expenditure.

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 available to an agency from all sources. For departmental operating appropriations (outputs) this includes carry-forward amounts as well as amounts appropriated at Budget. As agencies incur and are funded for future liabilities, generally depreciation and employee entitlements, the total amount of departmental operating appropriation available to an agency is unlikely to be fully utilised in the budget year. Outcome resource statements include details of the expected use of available resources in contributing towards outcomes in the budget year. The difference between the agency level resource statement and the sum of all outcome resource statements is the expected carry-forward amount of resources for the 2009–10 Budget year, including amounts related to meeting future obligations to maintain the agency’s asset base and to meet employee entitlement liabilities. Table 3.1.1 reconciles the total available appropriation and amounts attributable to all outcomes.

Please note: the carry-forward amount indicated does not account for unexpended grants, income received in advance, provisions and commitments.

3.1.2 Movement of administered funds between years

TSRA does not receive administered funds.

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3.1.3 Special Accounts

TSRA does not maintain any Special Accounts.

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3.2 Budgeted Financial Statements

3.2.1 Differences in agency resourcing and financial statements

There are no differences in the Budget Papers and TSRA PB Statements.

3.2.2 Analysis of budgeted financial statements

Budgeted departmental income statement for the period ended 30 June

This statement provides a picture of the expected financial results for TSRA by identifying full accrual expenses and revenues, which highlights whether TSRA is operating at a sustainable level.

The major variations between estimated actuals for 2007–08 and revised estimates for 2008–09 in the Budgeted Departmental Income Statement are as follows:

In 2008–09, total revenue (price of outputs) is expected to increase by 0.2 per cent from the 2007–08 PB Statements estimates. A net decrease of expenditure of 1.3 per cent is anticipated due to the impact of the delivery of programs.

Budgeted departmental balance sheet at 30 June

This statement shows the financial position of TSRA. It helps decision-makers to track the management of assets and liabilities.

Departmental asset and liability balances have been adjusted from Budget estimates for 2008–09 financial year balances.

Budgeted departmental statement of cash flows for the period ended 30 June

Budgeted cash flows, as reflected in the statement of cash flows, provide important information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities.

Predicted departmental cash flows have been adjusted to reflect the cash impact of the above variations on the financial performance and position statement estimates.

3.2.3 Budgeted financial statements tables

Prepared on Australian Accounting Standards basis Assets held for sale

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*Note: 'equity' is the residual interest in assets after deduction of liabilities.
Prepared on Australian Accounting Standards basis

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Prepared on Australian Accounting Standards basis

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Prepared on Australian Accounting Standards basis

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3.2.4 Notes to the financial statements

Basis of accounting

The agency budget statements are prepared in compliance with Australian Accounting Standards, Accounting Guidance Releases and having regard to Statements of Accounting Concepts.

Departmental financial statements and schedule to administered activity

Under the Government’s accrual-based budgeting framework, and consistent with Australian Accounting Standards, transactions that agencies control (departmental transactions) are separately budgeted for and reported on 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.

Departmental items are those assets, liabilities, revenues and expenses in relation to an agency or authority that are controlled by the agency. Departmental expenses include employee and supplier expenses and other administrative costs, which are incurred by the agency in providing its goods and services.

Administered items are revenues, expenses, assets and liabilities that are managed by an agency or authority on behalf of the Government according to set government directions.

TSRA has no administered items.

Appropriations in the accrual budgeting framework

Under the Government’s accrual budgeting framework, separate annual appropriations are provided for:

• departmental price of outputs appropriations, representing the Government’s funding of outputs from agencies
• departmental capital appropriations, for investments by the Government for either additional equity or loans in agencies
• administered expense appropriations for the estimated administered expenses relating to an existing outcome, a new outcome or a Specific Purpose Payment to the states and administered capital appropriations, and for increases in administered equity through funding non-expense administered payments.

Special appropriations fund the majority of payments from the Consolidated Revenue Fund (especially those that are entitlement driven or involve transfers to state governments).

Asset valuation

From 1 July 2002, Government agencies and authorities are required to use either the cost basis or the fair value basis to measure property, plant and equipment. The shift from the deprival method of valuation to fair value should occur gradually over a three-year period. Fair value essentially reflects the current market value of an asset.