Government finance statistics statements

Table 1: Australian Government general government sector operating statement

1. The fiscal balance and net operating balance estimates in this table differ from those presented elsewhere in the Budget reflecting the treatment of the GST as an Australian Government tax.
2. The term fiscal balance is not used by the ABS.

Table 2: Australian Government general government sector balance sheet

1. For 2004-05 and the forward years, transactions relating to debt management activities in Assets — Investments, Loans and Placements and Liabilities — Government Securities have been netted. This treatment has been applied because of the uncertainty associated with the actual split between government securities and financial assets acquired for debt management purposes.
2. Equity includes the valuation of the Telstra shareholding, which is valued at the average of the daily share price over a 90-day period, except in the sale years where the valuation is based on the expected sale price.
3. Heritage and cultural assets were previously included in Plant, equipment and infrastructure.
4. The net worth estimates in this table differ from those presented elsewhere in the Budget reflecting the treatment of GST as an Australian Government tax.
5. Net worth is calculated as total assets minus total liabilities.
6. Net financial worth equals total financial assets minus total liabilities. That is, it excludes non-financial assets.
7. Net debt equals the sum of deposits held, advances received, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 3: Australian Government general government sector cash flow statement^(a)

1. A positive number denotes a cash inflow; a negative sign denotes a cash outflow.
2. Includes GST cash receipts on an Australian Government tax basis, which are $5 million greater in 2003-04 than GST cash receipts measured by the Australian Government on a State tax basis (as shown in Statement 10, Note 16).
3. GST flows are excluded from these categories.
4. Includes GST cash payments on an Australian Government tax basis.
5. The acquisition of assets under finance leases decreases the surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 4: Australian Government general government sector statement of other economic flows (reconciliation of net worth)

1. Includes the initial recognition of a provision for asbestos related claims. At the time of the 2002-03 Final Budget Outcome a reliable actuarial measure was not available. Following an actuarial review a provision for asbestos-related claims was included in the audited 2002-03 Consolidated Financial Statements. This liability has now been back dated to 2002-03.
2. Revaluations of equity reflects changes in the market valuation of commercial entities, including a change in the value of the Telstra shareholding which is valued at the average of the daily share price over a 90-day period, except in the sale years where the valuation is based on the expected sale price. This line also reflects any equity revaluations at the point of disposal or sale.
3. Defence weapons are treated as expenses rather than assets under the GFS framework, hence, changes in value do not contribute to net worth and are not included in other economic flows. The adjustment to remove defence weapons has now been reallocated to net writedown of assets, assets recognised for the first time and other economic revaluations.
4. Largely reflects revaluation of assets and liabilities.

Table 5: Australian Government public non-financial corporations operating statement

1. The term fiscal balance is not used by the ABS.

Table 6: Australian Government public non-financial corporations balance sheet

1. Includes the elimination of commercial taxation adjustments for future income tax benefits and deferred income tax.
2. Net worth is calculated as total assets minus total liabilities minus shares and other contributed capital. The negative net worth recorded for this sector reflects a higher valuation of listed Australian Government corporations by the sharemarket than the value of net assets recorded by these corporations.
3. Net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital. That is, it excludes non-financial assets.
4. Net debt equals the sum of deposits held, advances received and borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 7: Australian Government public non-financial corporations cash flow statement^(a)

1. A positive number denotes a cash inflow; a negative sign denotes a cash outflow.
2. Other payments for operating activities includes distributions paid to the general government sector from public non-financial corporations.
3. Distributions paid comprise public non-financial corporations dividends to non-general government shareholders.
4. The acquisition of assets under finance leases decreases the surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 8: Australian Government total non-financial public sector operating statement

1. The fiscal balance and net operating balance estimates in this table differ from those presented elsewhere in the Budget reflecting the treatment of the GST as an Australian Government tax.
2. The term fiscal balance is not used by the ABS.

Table 9: Australian Government total non-financial public sector balance sheet

1. Net worth is calculated as total assets minus total liabilities minus shares and other contributed capital. The negative net worth recorded for this sector partly reflects a higher valuation of listed Australian Government corporations by the sharemarket than the value of net assets recorded by these corporations.
2. Net worth and net financial worth for the non-financial public sector now equal the sum of the general government and public non-financial corporations sectors. This is due to the elimination of commercial taxation adjustments for future income tax benefits and deferred income tax now being made within the public non-financial corporations sector.
3. Net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital. That is, it excludes non-financial assets.
4. Net debt equals the sum of deposits held, advances received, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.

Table 10: Australian Government total non-financial public sector cash flow statement^(a)

1. A positive number denotes a cash inflow; a negative sign denotes a cash outflow.
2. GST flows are excluded from these categories.
3. Distributions paid comprise public non-financial corporations dividends to non-general government shareholders.
4. The acquisition of assets under finance leases decreases the surplus or increases the deficit. The disposal of assets previously held under finance leases increases the surplus or decreases the deficit.

Table 11: Australian Government general government sector taxation revenue by source

Table 12: Australian Government purchases of non-financial assets by function

 

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