Section 2: Resources for 2007-08
2.1 Appropriations and other resources
The total appropriation and other resources for the Australian Prudential Regulation Authority (APRA) in the 2007-08 Budget is $98.5 million.
Table 2.1 shows the total resources from all origins for 2007-08, including appropriations. The table summarises how resources will be applied by outcome, administered and departmental classification.
Table 2.1: Appropriations and other resources 2007-08
2.2 2007-08 budget measures
The following table summarises Budget measures relating to APRA as explained in Budget Paper No. 2, Budget Measures 2007-08.
Table 2.2: Australian Prudential Regulation Authority measures
- This measure was published in the Mid-Year Economic and Fiscal Outlook 2006-07.
2.3 Other resources available to be used
Table 2.3 provides details of resources obtained by APRA for provision of goods or services. These resources are approved for use by APRA and are also included in Table 2.1.
Table 2.3: Other resources available to be used
Goods and services of $4.2 million in the above table represent cost recoveries for activities described more fully in Section 4.2.
2.4 Movement of administered funds
Table 2.4: Movement of administered funds between years
APRA does not have any movement of administered funds.
2.5 Special appropriations
Table 2.5: Estimates of expenses from special appropriations
- Funding of APRA’s operations.
- Refund of overpayment of levies by financial institutions from administered funds (also refer Table 5.7).
2.6 Movement in special accounts
Special accounts provide a means to set aside and record amounts used for specified purposes. Table 2.6 shows the expected additions (credits) and reductions (debits) for each account used by APRA.
Table 2.6: Estimates of special account flows and balances
The Superannuation Protection Account was established under section 234 of the Superannuation Industry (Supervision) Act 1993 to facilitate the recovery of financial assistance provided to superannuation fund members suffering adverse outcomes from fraud and misappropriation by fund trustees. There have been no transactions to this account to date. Several rounds of financial assistance have been made to a number of superannuation funds by Treasury directly from the Consolidated Revenue Fund (CRF) in recent financial years. To date, APRA, on behalf of Treasury, has imposed three Financial Assistance Levies on the superannuation industry to recover assistance funds granted up to 2005-06, the proceeds of which were returned directly to the CRF.