final budget outcome
2012‑13
September 2013
CIRCULATED BY
THE HONOURABLE J. B. HOCKEY MP
TREASURER OF THE COMMONWEALTH OF AUSTRALIA
AND
SENATOR THE HONOURABLE MATHIAS CORMANN
MINISTER FOR FINANCE OF THE COMMONWEALTH OF AUSTRALIA
FOR THE INFORMATION OF HONOURABLE MEMBERS
© Commonwealth of Australia 2013
ISBN 978‑0‑642‑74930‑7
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Foreword
The Final Budget Outcome 2012‑13 has been prepared in a manner consistent with the Charter of Budget Honesty Act 1998 (the Charter). The Charter requires that, inter alia, the Government provide a final budget outcome report no later than three months after the end of the financial year. Consistent with these requirements, this report encompasses Australian Government general government sector fiscal outcomes for the 2012‑13 financial year and is based on external reporting standards.
- Part 1 provides the general government sector budget aggregates for 2012‑13 together with an analysis of the 2012‑13 Final Budget Outcome. This includes summary analysis of cash flows, revenue, expenses, net capital investment and the balance sheet (net debt, net financial worth and net worth).
- Part 2 presents the Australian Government financial statements for 2012‑13 with the Australian Bureau of Statistics' (ABS) Government Finance Statistics (GFS) as the basis for accounting policy, except for where the Government has decided to depart because Australian Accounting Standards provide a better conceptual treatment for presenting information of relevance to users of public sector financial reports. This data covers the general government sector as well as the Australian Government public corporations sectors.
- Part 3 provides details for 2012‑13 on Australia's Federal Relations, updated from that contained in the 2013‑14 Budget Paper No. 3, Australia's Federal Relations.
Appendix A contains expenses data on a functional and sub‑functional basis. Historical Australian Government data are presented in Appendix B.
Notes
- The following definitions are used in this Budget Paper:
- 'real' means adjusted for the effect of inflation;
- real growth in expenses and payments is calculated using the Consumer Price Index (CPI) as the deflator; and
- one billion is equal to one thousand million.
- Figures in tables and generally in the text have been rounded. Discrepancies in tables between totals and sums of components are due to rounding:
- estimates under $100,000 are rounded to the nearest thousand;
- estimates $100,000 and over are generally rounded to the nearest tenth of a million;
- estimates midway between rounding points are rounded up; and
- the percentage changes in statistical tables are calculated using unrounded data.
- For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
- The following notations are used:
- -
- nil
- na
- not applicable (unless otherwise specified)
- $m
- million of dollars
- $b
- billion of dollars
- nfp
- not for publication
- (e)
- estimates (unless otherwise specified)
- (p)
- projections (unless otherwise specified)
- NEC/nec
- not elsewhere classified
- The Australian Capital Territory and the Northern Territory are referred to as 'the Territories'. References to the 'States' or 'each State' include the Territories. The following abbreviations are used for the names of the States, where appropriate:
- NSW
- New South Wales
- VIC
- Victoria
- QLD
- Queensland
- WA
- Western Australia
- SA
- South Australia
- TAS
- Tasmania
- ACT
- Australian Capital Territory
- NT
- Northern Territory
- In this paper the term Commonwealth refers to the Commonwealth of Australia. The term is used when referring to the legal entity of the Commonwealth of Australia.
The term Australian Government is used when referring to the Government and the decisions and activities made by the Government on behalf of the Commonwealth of Australia.
Where possible, Budget documents are available in HTML and for downloading in Portable Document Format(PDF). If you require further information on any of the tables or charts on this website, please contact The Treasury.
