Government finance statistics statements

Table B1: 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 MYEFO reflecting the treatment of the GST as an Australian Government tax.
2. The term fiscal balance is not used by the ABS.

Table B2: Australian Government general government sector balance sheet

1. In 2005-06 equity includes the valuation of the Telstra shareholding, which is valued at the average of the daily share price over a 90-day period.
2. The net worth estimates in this table differ from those presented elsewhere in the MYEFO reflecting the treatment of the GST as an Australian Government tax.
3. Net worth is calculated as total assets minus total liabilities.
4. Net financial worth equals total financial assets minus total liabilities. That is, it excludes non-financial assets.
5. 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 B3: 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 is $69 million lower than GST cash receipts measured on a State tax basis (as shown in Appendix C, 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 B4: Australian Government general government sector statement of other
economic flows (reconciliation of net worth)

1. Adjustments in opening net worth arise from a change in 2004-05 outcomes for the Australian Taxation Office and the Department of Defence and the impact of moving to new international accounting standards.
2. Revaluations of equity reflects changes in the market valuation of commercial entities, including for 2005-06 a change in the value of the Telstra shareholding which is valued at the average daily share price over a 90-day period. This line also reflects any equity revaluations at the point of disposal or sale.
3. Largely reflects revaluations of assets and liabilities.

Table B5: Australian Government public non-financial corporations operating statement

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

Table B6: 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 B7: 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 the cash flow to the general government sector from public non-financial corporation distributions paid.
3. Distributions paid comprise public non-financial corporation 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 B8: 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 MYEFO reflecting the treatment of the GST as an Australian Government tax.
2. The term fiscal balance is not used by the ABS.

Table B9: 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 reflects a higher valuation of listed Australian Government corporations by the sharemarket than the value of net assets recorded by these corporations.
2. Net financial worth equals total financial assets minus total liabilities minus shares and other contributed capital. That is, it excludes non-financial assets.
3. 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 B10: 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 corporation 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.

---