Australian Office of Financial Management
Section 1: Overview, appropriations and budget measures summary
Overview
The Australian Office of Financial Management (AOFM), a `prescribed agency' under the Financial Management and Accountability Act 1997, is responsible for the Commonwealth's debt management activities.
The objective of the AOFM is to raise, manage and retire Commonwealth debt at the lowest possible long-term cost, consistent with an acceptable degree of risk exposure.
Appropriations
The total appropriation for the AOFM in the 2002-03 Budget is $40,401.0 million. Table 1.1 on the following page shows the total appropriations for the AOFM's outcome.
Price of output appropriation of $6.57 million is based on budgeted expenses (of $6.59 million) after deducting estimated revenues from external sources (of $0.02 million).
The total administered outcome appropriation of $40,394.4 million is based on budgeted expenses of $6,646.0 million and budgeted debt raising and financial investment activity of $33,748.4 million.
Australian Office of Financial Management - appropriations 2002-03
Table 1.1: Appropriations and other revenue ($`000)
1. References C1, E1 and I1 refer to information provided in Table 2.1. Reference K1 refers to information provided in Table 3.1.
2. Refer to Budgeted Statement of Financial Performance in Table 3.1 for application of agency revenue.
3. Revenue from other sources includes revenue from other sources (for example, sales of goods and services). Non-appropriated agency revenues and administered revenues are detailed in Appendix 1.
4. Estimated expenses from administered annual and special appropriations are shown in Appendix 2.
Note: Percentage figures indicate the percentage contribution of revenue from government (agency appropriations) to the total price of outputs, by outcome.
Equity injections and loans
An equity injection carried over from the 2000-01 financial year of $3.4 million is expected to be utilised in 2002-03 for the acquisition of a specialist debt management system.
