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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
Appendix 2
Estimates of expenses from special appropriations
