Australian Securities and Investments Commission
Section 1:  Overview, additional estimates and variations to outcomes 
Overview
There has been no change to the overview included in the 2000-01 Portfolio Budget Statements. 
Additional estimates and variations to outcomes
Measures
Outcome 1  A fair and efficient market characterised by integrity and transparency and supporting confident and informed participation of investors and consumers

The Government will provide the Superannuation Complaints Tribunal with additional funding to reduce its current backlog of cases. The funding will enable the Tribunal to appoint additional staff and undertake a greater number of reviews. It will also enable the Tribunal to cover its operating costs.
Other variations to appropriations
The Australian Securities and Investments Commission (ASIC) is seeking an additional $0.387 million as a result of revised parameters.

Chart 5:  Australian Securities and Investments Commission
outcomes and outputs
	Australian Securities and Investments Commission
Chairman:  Mr Alan Cameron		
							
	Overall Outcome
Strong, sustainable economic growth and the improved wellbeing of Australians		
							
	Outcome 1
A fair and efficient market characterised by integrity and transparency and supporting confident and informed participation of investors and consumers
Total Price of Outputs:  $136.865 million
Agency Outputs Appropriation:  $131.465 million		
							
	Output Group 1.1
Australian Securities and Investments Commission		

Output 1.1.1
Policy and guidance about the laws administered by ASIC		Output 1.1.2
Comprehensive and accurate information on companies and corporate activity		Output 1.1.3
Compliance monitoring and licensing of participants in the financial system to protect consumer interests and ensure market integrity 		Output 1.1.4
Enforcement activity to give effect to the laws administered by ASIC	

Measures:  Australian Securities and Investments Commission summary
Table 1.1:  Summary of measures since the 2000‑01 Budget

Breakdown of additional estimates by appropriations bill
Table 1.2:  Appropriation Bill (No. 3) 2000‑01

Summary of staffing changes
Table 1.4:  Average staffing level (ASL)

Variations to revenue from other sources through net annotated appropriations (section 31) receipts
Table 1.5:  Changes to net annotated appropriations (section 31) receipts

Section 2:  Revisions to outcomes and outputs
Outcomes and output groups
There have been no changes to ASIC’s outcome and outputs included in the 2000-01 Portfolio Budget Statements.
Revised performance information and level of achievement — 2000‑01
The revised performance information that ASIC will use to assess the level of its achievement against Output 1.1.3 during 2000-01 is shown below:
Table 2.1:  Performance information for outputs affected by additional estimates Outcome 1

Section 3:  Budgeted financial statements
Budget statement of revenues and expenses 
This statement provides a picture of the expected financial results for ASIC by identifying full accrual expenses and revenues, which highlights whether ASIC is operating at a sustainable level.
Budget statement of assets and liabilities 
This statement shows the financial position of ASIC. It enables decision makers to track the management of ASIC’s assets and liabilities.
Budget cash flow statement
This statement identifies expected cash flows from operating activities, investing activities and financing activities.
Capital budget statement
This statement shows all proposed capital expenditure funded through the Budget as appropriations or from internal sources.

Table 3.1:  Budget statement of revenues and expenses

Table 3.2:  Budget statement of assets and liabilities (Agency)

Table 3.2:  Budget statement of assets and liabilities (Administered)

Table 3.3:  Budget cash flow statement (Agency)

Table 3.3:  Budget cash flow statement (Administered)

Table 3.4:  Capital budget statement

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.
Agency
Budget statement of revenues and expenses
Appropriation from government has increased by $1.354 million comprising a revised parameter movement of $0.387 million and a provision to increase the operating expenses of the Superannuation Complaints Tribunal of $0.967 million.
Although staffing levels are to be reduced over this Financial Year (FY), employee expenses remain marginally higher than FY 1999-2000 due to the full year impact of the Certified Agreement of 1998 and the expected effect of the Certified Agreement currently being negotiated.
Expenses on goods and services remain consistent with last year’s level.
Budget statement of assets and liabilities
The significant changes in the Budget Statement of Assets and Liabilities include:
•	the final discharge of ASIC’s loan; and
•	a decrease in suppliers expenses compared to the previous which included accrued expenses associated with an early termination of a lease.
Budget cash flow statement
The significant change in cash outlays for FY 2000-01 compared to the previous year:
•	an increase in the outlays for supplies, which reflects the lease termination payments, discussed above;
•	the reduction in purchases of property plant and equipment is reflective of the plan to outsource the IT function in accordance with government policy; and
•	the completion of ASIC’s loan repayments.
Administered
Budget statement of administered revenue and expenses
The change compared to last year reflected in this Statement is related to the administration of Banking Unclaimed Moneys function transferred to ASIC from the Treasury.
Budget statement of administered assets and liabilities
The increase in the payables reflects the liability associated with the Banking Unclaimed Moneys function.
Budget administered cash flow statements
The significant change in this statement is also related to the Banking Unclaimed Moneys function.

Appendix 1
Non-appropriation agency and administered revenue

Appendix 2
Estimates of expenses from special appropriations