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1301.0 - Year Book Australia, 2012  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 24/05/2012   
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Government Finance

PUBLIC SECTOR

The System of National Accounts has been updated and the 2008 System of National Accounts (2008 SNA) was endorsed by the United Nations Statistical Commission in February 2009. The 2008 SNA was implemented in Australia’s National Accounts from September quarter 2009 and this has resulted in two changes to Australia’s GFS. Defence Weapons Platforms (DWP) have been capitalised to align with the 2008 SNA from September quarter 2009 and time series have been revised. This change affected the Commonwealth General Government Operating Statement, Cash Flow Statement and Balance Sheet.

The alignment of Special Drawing Rights (SDR) to the 2008 SNA treatment was introduced in the 2009–10 year and time series have been revised. SDRs are international reserve assets created by the International Monetary Fund (IMF) and allocated to its members to supplement existing reserve assets. This change means that counterpart liabilities are now recorded to match the value of the SDRs allocated by the IMF to Australia. Previously, SDRs allocated by the IMF were recorded in the Australian GFS as financial assets with no corresponding liabilities and were initially brought onto the balance sheet with matching ‘other economic flow’ entries. This has affected the Commonwealth General Government Balance Sheet.

The Australian System of Government Finance Statistics: Concepts, Sources and Methods (5514.0, 5514.0.55.001) has been updated to reflect these changes. The GFSM 2001 will be revised to reflect the 2008 SNA and, although the IMF review of the GFSM has commenced, timing of release of the revised GFSM is unknown at this stage. The Australian Bureau of Statistics (ABS) GFS will be updated to reflect the new international standard after the revised IMF GFSM is available.

PUBLIC SECTOR

The public sector includes all organisations owned or controlled by any of the three levels of government within the Australian political system – Australian (Commonwealth), state (and territory), and local. The responsibilities of each level of government differ and each level has specific sources of revenue with which to fund its activities.

In the Australian system of government finance statistics (GFS), a fourth level of government is also identified – multi-jurisdictional. The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or where classification of a unit to a jurisdiction is otherwise unclear. The main type of units currently falling into the multi-jurisdictional category are the public universities.

The public sector can be divided into three institutional sectors that group organisations with similar characteristics:

  • General government – the main functions of general government entities are to provide non-market goods and services (e.g. public roads, public hospitals, libraries) primarily financed by taxes, to regulate and influence economic activity, to maintain law and order, and to redistribute income by means of transfer payments.
  • Public non-financial corporations (PNFCs) – the main function of PNFCs is to provide goods and services that are predominantly market, non-regulatory and non-financial in nature. Market operators make decisions about what to produce and how much to produce in response to expected levels of demand and expected costs of supply and are exposed to the risks associated with this production.
  • Public financial corporations (PFCs) – PFCs are enterprises that engage in financial intermediation (i.e. trade in financial assets and liabilities), such as central borrowing authorities (the Reserve Bank of Australia), government banks and insurance offices, or home-lending schemes.

Within GFS, the consolidated total of the general government, the PNFCs and the PFCs sectors is referred to as the 'total public sector'.

The GFS framework is divided into three separate financial statements, each of which is designed to draw out analytical aggregates, or balances of particular economic significance. Taken together, they provide a comprehensive description of the financial positions of levels of government and jurisdictions, both individually and collectively. These statements are the operating statement, the cash flow statement and the balance sheet.

The operating statement presents details of transactions in GFS revenues, GFS expenses and the net acquisition of non-financial assets on an accrual basis for an accounting period. Two key GFS analytical balances in the operating statement are GFS net operating balance (NOB) and GFS net lending/borrowing. GFS NOB is the difference between GFS revenues and GFS expenses and reflects the sustainability of government operations. GFS net lending/borrowing is equal to NOB minus the net acquisition of non-financial assets. A positive result reflects a net lending position while a negative result reflects a net borrowing position.

The cash flow statement identifies how cash is generated and applied in a single accounting period. It reflects a cash basis of recording, where the information has been derived indirectly from underlying accrued transactions and movements in balances. In effect, this means that transactions are captured when cash is received or when cash payments are made. Cash transactions are especially identified because they allow the compilation of the cash-based surplus/deficit measure and because the management of cash is considered an integral function of accrual accounting. The cash based surplus/deficit is a broad indicator of cash flow requirements. When it is positive (i.e. in surplus), it reflects the extent to which cash is available to government to either increase its financial assets or decrease its liabilities. When it is negative (i.e. in deficit), it is a measure of the extent to which government requires cash, by running down its financial assets or by drawing on the cash reserves of the domestic economy, or from overseas.

The balance sheet is the statement of financial position for a sector at a specific point in time. It shows the assets, liabilities and GFS net worth. GFS net worth is an economic measure of wealth. For the general government sector, it is calculated as assets less liabilities. For the PNFC and PFC sectors, GFS net worth is calculated as assets less liabilities less shares and other contributed capital.

Tables 28.1 and 28.2 show major aggregates for general government and the total public sector.

Tables 28.3 to 28.8 show operating and cash flow statements and the 30 June balance sheet results across different levels of government for the general government and the total public sectors from 2005–06 to 2009–10.

GFS net borrowing in 2009–10 was $71.4 billion for the general government sector (tables 28.1 and 28.3) and $93.4 billion for the total public sector (tables 28.2 and 28.4).


28.1 MAJOR AGGREGATES, General government sector, all levels of government
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

GFS Revenue
363 719
391 146
419 114
419 678
420 300
GFS Expenses
333 279
359 850
386 379
440 653
459 650
GFS Net Operating Balance
30 441
31 296
32 735
–20 976
–39 350
Net acquisition of non-financial assets
10 615
13 699
16 463
22 092
32 047
GFS Net Lending(+)/Borrowing(–)
19 825
17 597
16 272
–43 068
–71 397
Cash Surplus (+)/Deficit (–)
25 054
14 850
19 425
–32 141
–68 638
Total assets
1 047 738
1 120 466
1 277 686
1 447 941
1 546 033
Total liabilities
365 745
366 303
381 565
510 514
613 505
GFS Net worth
681 993
754 163
896 121
937 427
932 528

Source: Government Finance Statistics, Australia (5512.0).


28.2 MAJOR AGGREGATES, Total public sector, all levels of government
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

GFS Revenue
422 591
445 285
470 557
472 144
474 353
GFS Expenses
391 904
410 134
433 926
493 940
517 014
GFS Net Operating Balance
30 687
35 151
36 632
–21 795
–42 662
Net acquisition of non-financial assets
19 337
25 293
31 570
42 316
50 768
GFS Net Lending(+)/Borrowing(–)
11 350
9 858
5 062
–64 111
–93 429
Cash Surplus (+)/Deficit (–)
19 151
6 269
9 264
–51 019
–86 221
Total assets
1 243 037
1 337 894
1 520 306
1 718 921
1 837 651
Total liabilities
572 766
583 497
624 185
781 494
905 124
GFS Net worth
647 914
754 367
896 121
937 427
932 528

Source: Government Finance Statistics, Australia (5512.0).


28.3 GENERAL GOVERNMENT OPERATING STATEMENT
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

GFS Revenue
260 786
277 978
303 291
298 282
292 013
GFS Expenses
241 230
257 483
278 320
322 405
337 713
GFS Net Operating Balance
19 556
20 495
24 971
–24 122
–45 699
Net acquisition of non-financial assets
2 875
2 872
3 640
4 850
7 168
GFS Net Lending(+)/Borrowing(–)
16 681
17 624
21 330
–28 972
–52 867

STATE AND TERRITORY

GFS Revenue
142 385
153 748
161 256
173 970
194 546
GFS Expenses
134 722
146 026
157 274
173 753
191 195
GFS Net Operating Balance
7 662
7 722
3 981
216
3 351
Net acquisition of non-financial assets
4 567
6 533
8 218
10 907
17 649
GFS Net Lending(+)/Borrowing(–)
3 096
1 189
–4 237
–10 690
–14 298

LOCAL

GFS Revenue
23 835
25 927
27 731
30 608
32 418
GFS Expenses
20 686
22 135
23 977
26 167
27 891
GFS Net Operating Balance
3 149
3 792
3 754
4 442
4 528
Net acquisition of non-financial assets
2 595
3 508
3 611
5 021
5 709
GFS Net Lending(+)/Borrowing(–)
554
284
143
–579
–1 181

MULTI-JURISDICTIONAL(a)

GFS Revenue
14 856
15 267
17 933
18 060
20 708
GFS Expenses
13 734
14 382
15 808
18 336
18 605
GFS Net Operating Balance
1 122
884
2 125
–276
2 104
Net acquisition of non-financial assets
579
787
993
1 315
1 508
GFS Net Lending(+)/Borrowing(–)
544
98
1 132
–1 590
595

ALL LEVELS OF GOVERNMENT(b)

GFS Revenue
363 719
391 146
419 114
419 678
420 300
GFS Expenses
333 279
359 850
386 379
440 653
459 650
GFS Net Operating Balance
30 441
31 296
32 735
–20 976
–39 350
Net acquisition of non-financial assets
10 615
13 699
16 463
22 092
32 047
GFS Net Lending(+)/Borrowing(–)
19 825
17 597
16 272
–43 068
–71 397

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).


Table 28.4 shows GFS operating statement aggregates for the total public sector for all levels of government. For the Commonwealth Government, GFS revenue decreased by $11.9 billion (4%) from $309.9 billion in 2008–09 to $298.0 billion in 2009–10. GFS expenses increased by $15.3b (5%) from $333.2b to $348.5b. As a result, GFS net operating balance decreased by $27.2b from $23.3b in 2008–09 to $50.4b in 2009–10.

For the state and territory governments, total public sector, GFS revenue increased by $27.7b (13%) from $215.4b in 2008–09 to $243.1b in 2009–10. GFS expenses increased by $21.5b (10%) from $217.0b to $238.5b. As a result, GFS net operating balance increased by $6.2b from $1.6b in 2008–09 to $4.6b in 2009–10.

For the total, All levels of government, total public sector, GFS revenue increased by $2.2b from $472.1b in 2008–09 to $474.4b in 2009–10. GFS expenses increased by $23.1b (5%) from $493.9b to $517.0b. As a result, the GFS net operating balance decreased by $20.9b from $21.8b in 2008–09 to $42.7b in 2009–10.


28.4 TOTAL PUBLIC SECTOR OPERATING STATEMENT
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

GFS Revenue
285 708
293 721
314 760
309 926
298 049
GFS Expenses
267 481
273 605
288 055
333 182
348 492
GFS Net Operating Balance
18 228
20 116
26 705
–23 256
–50 442
Net acquisition of non-financial assets
3 532
3 769
4 393
5 825
8 298
GFS Net Lending(+)/Borrowing(–)
14 696
16 347
22 312
–29 081
–58 740

STATE AND TERRITORY

GFS Revenue
176 809
192 328
201 822
215 360
243 092
GFS Expenses
167 656
180 519
195 858
216 985
238 501
GFS Net Operating Balance
9 153
11 809
5 963
–1 625
4 591
Net acquisition of non-financial assets
12 342
16 948
22 539
30 107
35 215
GFS Net Lending(+)/Borrowing(–)
–3 189
–5 138
–16 576
–31 733
–30 624

LOCAL

GFS Revenue
23 904
26 057
27 779
30 638
32 460
GFS Expenses
20 736
22 221
24 016
26 153
27 885
GFS Net Operating Balance
3 168
3 836
3 764
4 485
4 575
Net acquisition of non-financial assets
2 679
3 779
3 639
5 063
5 719
GFS Net Lending(+)/Borrowing(–)
489
58
124
–578
–1 143

MULTI-JURISDICTIONAL(a)

GFS Revenue
15 348
15 864
18 589
18 777
21 496
GFS Expenses
14 175
14 884
16 303
18 946
19 267
GFS Net Operating Balance
1 173
979
2 286
–169
2 229
Net acquisition of non-financial assets
784
798
998
1 320
1 522
GFS Net Lending(+)/Borrowing(–)
389
182
1 289
–1 489
706

ALL LEVELS OF GOVERNMENT(b)

GFS Revenue
422 591
445 285
470 557
472 144
474 353
GFS Expenses
391 904
410 134
433 926
493 940
517 014
GFS Net Operating Balance
30 687
35 151
36 632
–21 795
–42 662
Net acquisition of non-financial assets
19 337
25 293
31 570
42 316
50 768
GFS Net Lending(+)/Borrowing(–)
11 350
9 858
5 062
–64 111
–93 429

(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).


Table 28.5 shows the general government cash flow statement for all levels of government. For the Commonwealth Government, the cash flow statement deficit increased by $29.0 billion from $23.5 billion in 2008–09 to $–52.4 billion in 2009–10. For the state and territory governments, the cash flow statement deficit increased by $4.5b from $6.4b in 2008–09 to $10.9b in 2009–10.

For the total, All levels of government, general government, the cash flow statement deficit increased by $36.5b from $32.1b in 2008–09 to $68.6b in 2009–10.


28.5 GENERAL GOVERNMENT CASH FLOW STATEMENT
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

Cash Flow Statement
Cash receipts from operating activities
255 552
272 254
294 494
292 008
284 134
Cash payments for operating activities
–233 456
–246 110
–264 432
–306 054
–325 617
Net cash flows from operating activities
22 096
26 144
30 062
–14 047
–41 483
Net cash flows from investments in non-financial assets
–6 388
–6 864
–6 939
–8 841
–10 910
Net cash flows from investments in financial assets for policy purposes
–1 326
7 656
5 108
–7 914
–4 279
Net cash flows from investments in financial assets for liquidity purposes
–12 678
–26 934
–29 303
–16 185
5 150
Net cash flows from financing activities
–1 274
–824
1 748
47 143
51 716
Net Increase(+)/Decrease(–) in Cash Held
430
–822
675
156
193
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
15 708
19 280
23 123
–22 888
–52 393
Acquisitions of assets under finance leases and similar arrangements
–24
–59
–148
–566
–25
Surplus(+)/Deficit(–)
15 685
19 221
22 974
–23 454
–52 418

STATE AND TERRITORY

Cash Flow Statement
Cash receipts from operating activities
148 838
156 284
164 960
178 697
200 193
Cash payments for operating activities
–128 104
–146 270
–152 251
–166 188
–184 518
Net cash flows from operating activities
20 734
10 014
12 710
12 509
15 675
Net cash flows from investments in non-financial assets
–10 446
–12 789
–14 891
–18 077
–26 199
Net cash flows from investments in financial assets for policy purposes
–889
–970
–503
–2 127
–1 947
Net cash flows from investments in financial assets for liquidity purposes
–5 390
2 202
2 238
–656
–2 648
Net cash flows from financing activities
–1 196
1 654
4 154
9 697
14 303
Net Increase(+)/Decrease(–) in Cash Held
2 813
111
3 708
1 347
–815
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
10 288
–2 775
–2 182
–5 568
–10 524
Acquisitions of assets under finance leases and similar arrangements
–538
–636
–1 068
–870
–377
Surplus(+)/Deficit(–)
9 750
–3 411
–3 249
–6 438
–10 901

LOCAL

Cash Flow Statement
Cash receipts from operating activities
22 771
24 857
26 505
29 226
30 406
Cash payments for operating activities
–17 178
–18 218
–19 515
–21 495
–22 887
Net cash flows from operating activities
5 593
6 639
6 990
7 730
7 519
Net cash flows from investments in non-financial assets
–5 549
–6 498
–6 898
–8 402
–9 463
Net cash flows from investments in financial assets for policy purposes
–7
–247
443
1 812
52
Net cash flows from investments in financial assets for liquidity purposes
–330
–87
–285
–76
–275
Net cash flows from financing activities
346
562
339
138
2 976
Net Increase(+)/Decrease(–) in Cash Held
53
369
589
1 203
809
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
44
141
92
–672
–1 944
Acquisitions of assets under finance leases and similar arrangements
6
3
3
3
Surplus(+)/Deficit(–)
50
144
95
–669
–1 944

MULTI-JURISDICTIONAL(a)

Cash Flow Statement
Cash receipts from operating activities
15 072
15 054
17 957
17 818
20 490
Cash payments for operating activities
–12 995
–13 573
–14 973
–16 677
–17 572
Net cash flows from operating activities
2 077
1 481
2 984
1 141
2 918
Net cash flows from investments in non-financial assets
–1 396
–1 627
–1 921
–2 325
–2 586
Net cash flows from investments in financial assets for policy purposes
25
30
75
20
–5
Net cash flows from investments in financial assets for liquidity purposes
–374
–333
–382
–231
352
Net cash flows from financing activities
469
686
–445
2 062
–65
Net Increase(+)/Decrease(–) in Cash Held
801
236
311
666
614
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
681
–147
1 063
–1 184
332
Acquisitions of assets under finance leases and similar arrangements
–2
Surplus(+)/Deficit(–)
680
–147
1 063
–1 184
332

ALL LEVELS OF GOVERNMENT(b)

Cash Flow Statement
Cash receipts from operating activities
362 580
387 295
413 426
418 290
416 985
Cash payments for operating activities
–313 223
–344 001
–362 146
–411 345
–436 100
Net cash flows from operating activities
49 356
43 293
51 279
6 945
–19 115
Net cash flows from investments in non-financial assets
–23 778
–27 778
–30 649
–37 645
–49 157
Net cash flows from investments in financial assets for policy purposes
–2 425
6 422
5 335
–8 367
–6 158
Net cash flows from investments in financial assets for liquidity purposes
–18 772
–25 152
–27 083
–17 796
2 580
Net cash flows from financing activities
–285
3 109
6 502
52 608
72 652
Net Increase(+)/Decrease(–) in Cash Held
4 096
–106
5 384
–4 256
802
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
25 578
15 515
20 630
–30 700
–68 272
Acquisitions of assets under finance leases and similar arrangements
–524
–665
–1 205
–1 441
–366
Surplus(+)/Deficit(–)
25 054
14 850
19 425
–32 141
–68 638

— nil or rounded to zero (including null cells)
(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).


Table 28.6 shows the total public sector cash flow statement for all levels of government. For the Commonwealth Government, the cash operating deficit increased by $33.6 billion from $23.5 billion in 200809 to $57.1 billion in 200910. For the state and territory governments, total public sector, the cash operating deficit decreased by $1.3b from $25.3b in 200809 to $24.0b in 200910.

For the total, All levels of government, total public sector, the cash operating deficit increased by $35.2b from $51.0b in 2008–09 to $86.2b in 200910.


28.6 TOTAL PUBLIC SECTOR CASH FLOW STATEMENT
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

Cash Flow Statement
Cash receipts from operating activities
280 502
287 677
304 484
302 487
291 812
Cash payments for operating activities
–252 588
–259 773
–272 155
–315 188
–336 436
Net cash flows from operating activities
27 913
27 904
32 329
–12 702
–44 624
Net cash flows from investments in non-financial assets
–10 859
–9 739
–7 993
–10 236
–12 487
Net cash flows from investments in financial assets for policy purposes
–1 223
7 601
2 978
–7 895
–4 440
Net cash flows from investments in financial assets for liquidity purposes
–29 773
–51 539
–31 263
–18 749
21 607
Net cash flows from financing activities
13 491
23 273
4 923
49 425
40 794
Net Increase(+)/Decrease(–) in Cash Held
–451
–2 500
973
–157
849
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
14 689
17 303
24 335
–22 938
–57 112
Acquisitions of assets under finance leases and similar arrangements
–33
–65
–149
–566
–25
Surplus(+)/Deficit(–)
14 656
17 238
24 186
–23 504
–57 137

STATE AND TERRITORY

Cash Flow Statement
Cash receipts from operating activities
187 156
196 151
208 764
224 082
252 729
Cash payments for operating activities
–158 691
–176 748
–188 097
–205 211
–225 031
Net cash flows from operating activities
28 465
19 403
20 667
18 871
27 699
Net cash flows from investments in non-financial assets
–22 428
–28 432
–34 012
–42 681
–50 754
Net cash flows from investments in financial assets for policy purposes
274
3 123
187
–3 493
–1 946
Net cash flows from investments in financial assets for liquidity purposes
–4 518
–1 390
559
–16 785
–1 769
Net cash flows from financing activities
–297
11 591
16 939
45 217
27 302
Net Increase(+)/Decrease(–) in Cash Held
1 496
4 294
4 340
1 131
532
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
6 018
–9 037
–13 340
–23 845
–23 070
Acquisitions of assets under finance leases and similar arrangements
–1 045
–821
–1 420
–1 490
–944
Surplus(+)/Deficit(–)
4 973
–9 857
–14 761
–25 335
–24 014

LOCAL

Cash Flow Statement
Cash receipts from operating activities
22 952
25 058
26 618
29 288
30 453
Cash payments for operating activities
–17 238
–18 310
–19 585
–21 524
–22 857
Net cash flows from operating activities
5 714
6 749
7 033
7 764
7 595
Net cash flows from investments in non-financial assets
–5 654
–6 809
–6 953
–8 461
–9 489
Net cash flows from investments in financial assets for policy purposes
–1
–203
0
1 787
81
Net cash flows from investments in financial assets for liquidity purposes
–339
–87
–285
–76
–275
Net cash flows from financing activities
389
924
810
188
2 891
Net Increase(+)/Decrease(–) in Cash Held
110
573
605
1 203
804
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
61
–61
80
–696
–1 893
Acquisitions of assets under finance leases and similar arrangements
6
3
3
3
Surplus(+)/Deficit(–)
67
–58
84
–693
–1 893

MULTI-JURISDICTIONAL(a)

Cash Flow Statement
Cash receipts from operating activities
15 613
15 646
18 721
18 617
21 387
Cash payments for operating activities
–13 393
–14 002
–15 530
–17 162
–18 135
Net cash flows from operating activities
2 221
1 643
3 191
1 455
3 251
Net cash flows from investments in non-financial assets
–1 642
–1 683
–1 975
–2 383
–2 653
Net cash flows from investments in financial assets for policy purposes
–55
30
75
20
–5
Net cash flows from investments in financial assets for liquidity purposes
–374
–326
–382
–231
352
Net cash flows from financing activities
654
564
–578
1 833
–355
Net Increase(+)/Decrease(–) in Cash Held
803
227
331
694
590
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
509
–90
1 215
–987
509
Acquisitions of assets under finance leases and similar arrangements
–2
Surplus(+)/Deficit(–)
507
–90
1 215
–987
509

ALL LEVELS OF GOVERNMENT(b)

Cash Flow Statement
Cash receipts from operating activities
425 561
442 163
467 445
474 024
476 984
Cash payments for operating activities
–362 465
–387 505
–405 694
–459 091
–486 902
Net cash flows from operating activities
63 095
54 658
61 751
14 933
–9 917
Net cash flows from investments in non-financial assets
–40 583
–46 664
–50 933
–63 760
–75 382
Net cash flows from investments in financial assets for policy purposes
–1 238
10 509
4 053
–9 745
–6 294
Net cash flows from investments in financial assets for liquidity purposes
–34 906
–53 559
–29 691
–36 963
19 925
Net cash flows from financing activities
15 517
37 645
21 091
90 737
74 352
Net Increase(+)/Decrease(–) in Cash Held
1 886
2 589
6 271
–4 798
2 684
Surplus(+)/Deficit(–)
Net cash flows from operating activities and net cash flow from investments in non-financial assets
20 128
7 125
10 823
–48 862
–85 298
Acquisitions of assets under finance leases and similar arrangements
–977
–856
–1 559
–2 157
–923
Surplus(+)/Deficit(–)
19 151
6 269
9 264
–51 019
–86 221

— nil or rounded to zero (including null cells)
(a) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(b) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).


Table 28.7 shows the general government balance sheet for all levels of government. For the Commonwealth Government, the GFS net worth decreased by $68.6 billion from $27.1 billion in 2008–09 to $–41.6 billion in 2009–10. For the state and territory governments, general government, the GFS net worth increased by $25.5b from $601.7b to $627.2b.

For the total, All levels of government, general government, the GFS net worth decreased by $4.9b from $937.4b to $932.5b.


28.7 GENERAL GOVERNMENT BALANCE SHEET—30 June
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

Assets
Financial assets
188 990
191 696
210 375
237 391
238 645
Non-financial assets
67 140
68 547
76 569
82 684
87 655
Total
256 130
260 243
286 944
320 075
326 301
Liabilities
209 355
213 655
208 303
293 018
367 887
GFS Net Worth
46 775
46 588
78 641
27 057
–41 587
Net debt(a)
–12 835
–41 466
–54 156
–21 665
42 010
Net financial worth(b)
–20 365
–21 960
2 072
–55 627
–129 242

STATE AND TERRITORY

Assets
Financial assets
251 828
266 138
288 463
320 054
340 284
Non-financial assets
301 664
334 601
406 351
482 064
515 494
Total
553 491
600 739
694 814
802 118
855 778
Liabilities
145 350
140 280
159 401
200 409
228 594
GFS Net Worth
408 141
460 459
535 413
601 709
627 183
Net debt(a)
–31 418
–27 217
–21 510
–11 691
422
Net financial worth(b)
106 477
125 339
129 062
119 645
111 690

LOCAL

Assets
Financial assets
13 698
15 493
16 161
17 152
18 335
Non-financial assets
197 372
213 886
246 649
271 680
308 192
Total
211 070
229 378
262 810
288 832
326 526
Liabilities
10 283
11 512
12 719
12 833
15 484
GFS Net Worth
200 787
217 866
250 091
275 999
311 042
Net debt(a)
–4 449
–4 751
–5 023
–6 136
–5 032
Net financial worth(b)
3 415
3 980
3 442
4 319
2 850

MULTI-JURISDICTIONAL(c)

Assets
Financial assets
12 307
13 030
13 720
14 900
15 214
Non-financial assets
24 708
26 829
29 130
31 424
32 027
Total
37 015
39 859
42 850
46 325
47 241
Liabilities
10 724
10 609
10 874
13 663
11 352
GFS Net Worth
26 290
29 250
31 976
32 662
35 889
Net debt(a)
–4 195
–4 730
–5 558
–4 631
–7 252
Net financial worth(b)
1 582
2 421
2 845
1 238
3 862

ALL LEVELS OF GOVERNMENT(d)

Assets
Financial assets
456 855
476 603
518 987
580 089
602 665
Non-financial assets
590 884
643 863
758 699
867 852
943 367
Total
1 047 738
1 120 466
1 277 686
1 447 941
1 546 033
Liabilities
365 745
366 303
381 565
510 514
613 505
GFS Net Worth
681 993
754 163
896 121
937 427
932 528
Net debt(a)
–52 896
–78 163
–86 247
–44 124
30 148
Net financial worth(b)
91 110
109 781
137 422
69 575
–10 840

(a) Equals deposits held, advances received, Reserve Bank of Australia notes on issue and borrowings less cash and deposits, advances paid, investments, loans and placements.
(b) Equals financial assets less total liabilities. While Net financial worth should add across levels of government, small discrepancies may remain due to the difficulties in accurately identifying the parties and counter-parties associated with financial assets and liabilities.
(c) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(d) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).


Table 28.8 shows the total public sector balance sheet for all levels of government. For the Commonwealth Government, the GFS net worth decreased by $68.6 billion from $27.1 billion in 2008–09 to $–41.6 billion in 2009–10. For the state and territory governments, total public sector, the GFS net worth increased by $25.5b from $601.7b to $627.2b.

For the total, All levels of government, total public sector, the GFS net worth decreased by $4.9b from $937.4b to $932.5b.


28.8 TOTAL PUBLIC SECTOR BALANCE SHEET—30 June
2005–06
2006–07
2007–08
2008–09
2009–10
$m
$m
$m
$m
$m

COMMONWEALTH

Assets
Financial assets
236 292
266 252
301 364
323 279
313 377
Non-financial assets
96 811
73 086
82 545
89 317
95 284
Total
333 103
339 337
383 909
412 596
408 660
Liabilities
298 044
292 545
305 268
385 539
450 247
Shares and other contributed capital
22 363
GFS Net Worth
12 696
46 792
78 641
27 057
–41 587
Net debt(a)
–19 045
–56 477
–69 795
–43 206
28 078
Net financial worth(b)
–84 115
–26 294
–3 904
–62 260
–136 870

STATE AND TERRITORY

Assets
Financial assets
156 208
170 813
170 992
173 454
198 418
Non-financial assets
522 812
575 462
678 223
814 474
875 995
Total
679 020
746 274
849 214
987 928
1 074 413
Liabilities
270 879
285 816
313 802
386 219
447 229
Shares and other contributed capital
—-
GFS Net Worth
408 141
460 458
535 412
601 709
627 184
Net debt(a)
–17 047
–9 365
6 546
44 526
63 785
Net financial worth(b)
–114 671
–115 522
–142 810
–212 765
–248 812

LOCAL

Assets
Financial assets
12 500
14 158
15 362
16 239
17 775
Non-financial assets
199 069
215 784
247 589
272 762
308 855
Total
211 568
229 942
262 951
289 001
326 630
Liabilities
10 788
12 045
12 860
13 003
15 588
Shares and other contributed capital
GFS Net Worth
200 787
217 866
250 091
275 999
311 042
Net debt(a)
–4 206
–4 480
–4 936
–6 023
–4 942
Net financial worth(b)
1 718
2 082
2 502
3 237
2 187

MULTI-JURISDICTIONAL(c)

Assets
Financial assets
12 418
13 270
13 913
15 131
15 487
Non-financial assets
26 533
28 697
31 000
33 294
33 908
Total
38 951
41 967
44 913
48 425
49 395
Liabilities
11 705
11 761
11 880
14 508
12 050
Shares and other contributed capital
GFS Net Worth
26 290
29 250
31 976
32 662
35 889
Net debt(a)
–3 299
–3 734
–4 637
–3 935
–6 722
Net financial worth(b)
–243
553
976
–632
1 981

ALL LEVELS OF GOVERNMENT(d)

Assets
Financial assets
397 812
444 869
480 952
509 076
523 611
Non-financial assets
845 225
893 026
1 039 354
1 209 845
1 314 040
Total
1 243 037
1 337 894
1 520 306
1 718 921
1 837 651
Liabilities
572 766
583 497
624 185
781 494
905 124
Shares and other contributed capital
22 356
30
GFS Net Worth
647 914
754 367
896 121
937 427
932 528
Net debt(a)
–43 597
–74 057
–72 823
–8 638
80 199
Net financial worth(b)
–197 311
–139 178
–143 233
–272 418
–381 512

— nil or rounded to zero (including null cells)
(a) Equals deposits held, advances received, Reserve Bank of Australia notes on issue and borrowings less cash and deposits, advances paid, investments, loans and placements.
(b) Equals financial assets less total liabilities less shares and other contributed capital. While Net financial worth should add across levels of government, small discrepancies may remain due to the difficulties in accurately identifying the parties and counter-parties associated with financial assets and liabilities.
(c) The multi-jurisdictional sector contains units where jurisdiction is shared between two or more governments, or classification of a unit to a jurisdiction is otherwise unclear. The main types of units falling into this category are the public universities.
(d) The sum of individual levels of government may not agree with the total All levels of government figures due to transfers between levels of government.
Source: Government Finance Statistics, Australia (5512.0).

 

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Statistics contained in the Year Book are the most recent available at the time of preparation. In many cases, the ABS website and the websites of other organisations provide access to more recent data. Each Year Book table or graph and the bibliography at the end of each chapter provides hyperlinks to the most up to date data release where available.


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