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Portfolio Budget Statements
Department of the Treasury

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Section 1: Overview, Appropriations and Budget Measures Summary

OVERVIEW

The Department of the Treasury aims at strong sustainable economic growth and the improved wellbeing of the Australian people. It does so by providing sound and timely advice to Ministers based on thorough analysis of options, and by assisting Treasury portfolio Ministers in the administration of their responsibilities and the implementation of Government decisions. It provides advice in a range of areas which seeks to promote a sound macroeconomic environment; effective government spending and taxation arrangements; and well functioning markets.

APPROPRIATIONS

Total appropriations for the Department of the Treasury in the 1999-2000 Budget are $51,838.6 million (see Table 1.1).

Department of the Treasury -- Appropriations 1999-2000

Table 1.1: Appropriations ($'000)

Outcomes Administered Expenses Price of Outputs Total Appropriations (e) Total Estimated Expenses
Special Appropriations (a) Annual Appropriations Total Administered Appropriations Total Price of Outputs(c) Revenue from Other Sources(d) Revenue from Government (Appropriations)
Bill 1 Bill 2 (SPPs & NAOs)(b) Special Annual Bill 1 Total
(A) (B) (C) (D=A+B+C) (E) (F) (G) (H=E-F-G) (I=G+H) (J=D+I) (K=J+F)
Outcome 1 -- Sound macroeconomic environment 8,991,705 8,078 90,400 9,090,183 22,800 211 - 22,589 22,589 9,112,772 9,112,983
Outcome 2 -- Effective government spending and taxation arrangements 17,706,357 - 13,200 17,719,557 18,946 273 - 18,673 18,673 17,738,230 17,738,503
Outcome 3 -- Well functioning markets 15,000 26,300 134,412 175,712 58,524 34,486 - 24,038 24,038 199,750 234,236
Total 26,713,062 34,378 238,012 26,985,452 100,270 34,970 - 65,300 65,300 27,050,752 27,085,722
Bill 2 and Special Appropriations Administered Capital(b) 24,783,096  
Bill 2 Departmental Carryover and Loans(b) 4,724  
Total Appropriations 51,838,572  
  1. Estimated expenses from individual Special Appropriations are shown in Appendix 2.
  2. Under the proposed Appropriation Structure, Bill 2 includes Specific Purpose Payments (SPPs), New Agency Outcomes (NAOs), Administered Capital and Departmental Capital via Departmental Carryover and Loans.
  3. Refer to Budget Statement of Revenue and Expenses for Application of Agency Revenue (see Table 3.1).
  4. Other Revenue includes other revenue from Government (eg resources free of charge) and revenue from other sources (eg sales of goods and services).
  5. Links from Appropriations to Budget Financial Statements include Budget Statement of Revenue and Expenses (see Table 3.1); and Capital Budget (see Tables 3.4 and 3.5).

BUDGET MEASURES -- DEPARTMENT OF THE TREASURY SUMMARY

Table 1.2: Summary of Budget Measures in the 1999-2000 Budget

Measure Outcome Output Groups Affected Appropriations ($'000) 1999-00 Appropriations ($'000) 2000-01 Appropriations ($'000) 2001-02 Appropriations ($'000) 2002-03
Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total
Establishment of the Australian Office of Financial Management -- Expense 1 1.1 1,767 3,421 5,188 2,122 3,475 5,598 1,820 3,537 5,357 1,820 3,599 5,420
Establishment of the Australian Office of Financial Management -- Capital 1 1.1 2,895 - 2,895 504 - 504 - - - - - -
Additional Funding for Taxation Reform -- Expense 2 2.1 - 3,054 3,054 - 2,117 2,117 - 1,076 1,076 - - -
A New Tax System -- Grants to Balance State and Territory Budgets -- Expense 2 2.1 - - - - - - 365,337 - 365,377 345,465 - 345,465
A New Tax System -- Advances to Balance State and Territory Budgets 2 2.1 - - - 182,667 - 182,667 -182,667 - -182,667 - - -
Australia as a Centre for Global Financial Services -- Expense 3 3.1 - 3,500 3,500 - 3,500 3,500 - - - - - -
Enhancement of the Corporations and Securities Panel -- Expense 3 3.1 - 1,770 1,770 - 1,761 1,761 - 1,779 1,779 - 1,798 1,798

Table 1.2: Summary of Budget Measures in the 1999-2000 Budget (continued)

Measure Outcome Output Groups Affected Appropriations ($'000) 1999-00 Appropriations ($'000) 2000-01 Appropriations ($'000) 2001-02 Appropriations ($'000) 2002-03
Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total Admin Expenses Dept Outputs Total
Savings to offset National Competition Council measure `Additional legal funding for matters relating to Part IIIA of the Trade Practices Act 1974' -- Expense 3 3.1 - -150 -150 - -150 -150 - - - - - -

Note: Administered revenue measures are not attributed to agencies and are reported in Budget Paper No. 2.

Departmental borrowings of $0.749 million for the Establishment of the Australian Office of Financial Management and $0.775 million for the Enhancement of the Corporations and Securities Panel are related to the above Budget Measures.

ADMINISTERED CAPITAL AND DEPARTMENTAL EQUITY INJECTIONS AND LOANS

The Department of the Treasury will receive administered capital appropriations of $93.3 million in 1999-2000, $1,200.5 million in 2000-01 and $104.0 million in 2001-02. This includes equity injections of $2.9 million in 1999-2000 and $0.5 million in 2000-01 for the purchase of capital items relating to administered expenses for the Australian Office of Financial Management. Treasury's administered capital special appropriations relate to financial assets.

The Department of the Treasury will receive the previous year's carryover of $3.2 million and a departmental loan of $1.524 million in 1999-2000. The departmental loan relates to costs associated with the establishment of the Australian Office of Financial Management and costs associated with the Corporations and Securities Panel.

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