Part 1: Australian Government Budget Outcome (continued)
Headline cash balance estimates
The headline cash balance consists of the underlying cash balance, net cash flows from investments in financial assets for policy purposes (for example, the equity funding of NBN Co), and net Future Fund earnings.
Table 8 provides further detail between the underlying and headline cash balance estimates of the Australian Government general government sector in 2013‑14.
At the end of 2013‑14, the headline cash balance was $52.5 billion, a $1.3 billion improvement from the estimate at the time of the 2014‑15 Budget. The improvement in the headline cash balance was primarily driven by the change in the underlying cash balance.
| 2013‑14 Estimate at 2014-15 Budget $m |
2013‑14 Outcome $m |
Change on 2014-15 Budget $m |
|
|---|---|---|---|
| 2013‑14 Outcome underlying cash balance(a) | -49,855 | -48,456 | 1,399 |
| plus Net cash flows from investments in financial assets for policy purpose | |||
| Students loans | -4,630 | -4,728 | -98 |
| NBN investment | -3,380 | -3,190 | 190 |
| Residential mortgage backed securities | 2,894 | 3,063 | 169 |
| Net other | -1,458 | -1,516 | -58 |
| Total net cash flows from investments in financial assets for policy purposes | -6,575 | -6,371 | 204 |
| plus Net Future Fund earnings | 2,689 | 2,348 | -341 |
| 2013‑14 Outcome headline cash balance | -53,741 | -52,479 | 1,262 |
(a) Excludes net Future Fund earnings.
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