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NOTES


ABOUT THIS PUBLICATION

This publication presents government finance statistics (GFS) on an accrual accounting basis for each jurisdiction for general government, the non-financial public sector and the total public sector as follows:

• Operating statements for 2004-05;
• Cash flow statements for 2004-05; and
• Balance sheets at 30 June 2005.

ABOUT THIS ISSUE

This issue contains data for general government, the non-financial public sector and the total public sector. Due to space constraints, tables relating to public non-financial corporations and public financial corporations are not included. Time series data for all institutional sectors can be accessed from the ABS web site.

From 2002-03 NSW state insurance expenses are allocated across all government purpose classification (GPC) categories. NSW Treasury is unable to re-allocate insurance expenses from Other Economic Affairs for the years prior to 2002-03. Within the GPCs for Education, exact expenditures for Special Education in NSW were unknown for the years prior to 2002-03. In years prior to 2002-03 expenditure on Special Education will have been included in Primary and Secondary Education.

The Victorian Treasury has been reviewing its historic GPC allocation. Some revisions have already been made to the time series data and further revisions are expected to be incorporated in the release of the 2005-06 GFS data in 2007. Pending this review, Victorian GPC data in this release are ABS estimates, based on previously reported data.

TERMINOLOGY

Within government finance statistics (GFS), the consolidated total of transactions of the general government, public non-financial corporations and public financial corporations sectors is referred to as the 'total public sector'.

In this publication, the term 'state' includes the two territories. Therefore 'state' refers to 'state and territory' and 'state and local' refers to 'state, territory and local'.

INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Jonathan Sim on Canberra (02) 6252 5735.

SUMMARY OF FINDINGS


ACCRUAL OPERATING RESULTS

The GFS net operating balance for all levels of government in 2004-05 was $19,419 million and $24,776 million for the general government sector and total public sector respectively. In the same year, GFS net lending was $13,666 million and $13,431 million for the two sectors respectively.

The following table shows these two measures and other GFS operating statement major aggregates across the various levels of government by sector in 2004-05.

OPERATING RESULTS - 2004-05
		General Government	Non- financial Public Sector	Total Public Sector
		$m	$m	$m
All levels of government
	GFS Revenue	335 680	380 934	391 555
	GFS Expenses	316 260	358 245	366 779
	GFS Net Operating Balance	19 419	22 689	24 776
	Net acquisition of non-financial assets	5 754	11 355	11 345
	GFS Net Lending(+)/Borrowing(-)	13 666	11 335	13 431
Commonwealth Government
	GFS Revenue	241 885	262 965	266 649
	GFS Expenses	230 788	250 095	253 122
	GFS Net Operating Balance	11 097	12 870	13 527
	Net acquisition of non-financial assets	154	457	466
	GFS Net Lending(+)/Borrowing(-)	10 942	12 413	13 061
State and local governments
	GFS Revenue	150 113	174 088	181 168
	GFS Expenses	141 418	164 077	169 721
	GFS Net Operating Balance	8 695	10 011	11 447
	Net acquisition of non-financial assets	5 159	10 330	10 312
	GFS Net Lending(+)/Borrowing(-)	3 536	-319	1 135
Multi-jurisdictional(a)
	GFS Revenue	13 305	13 729	13 729
	GFS Expenses	12 819	13 206	13 206
	GFS Net Operating Balance	486	523	523
	Net acquisition of non-financial assets	441	568	568
	GFS Net Lending(+)/Borrowing(-)	45	-45	-45
(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 currently falling into this category are the public universities.

CASH OPERATING RESULTS

In 2004-05 the general government sector and total public sector, for all levels of government, recorded surpluses of $20,632 million and $21,017 million respectively.

The following table presents the surplus/deficit results for each jurisdiction for 2004-05 for general government, the non-financial public sector and the total public sector.

CASH OPERATING RESULTS - 2004-05
		General Government	Non-financial Public Sector	Total Public Sector
		$m	$m	$m
SURPLUS(+)/DEFICIT(-)
Commonwealth Government		13 505	15 055	15 171
State and local governments
	New South Wales	1 192	242	831
	Victoria	188	-422	387
	Queensland	4 766	3 742	4 489
	South Australia	-20	53	193
	Western Australia	804	6	-
	Tasmania	256	160	249
	Northern Territory	-17	-111	-71
	Australian Capital Territory	35	-88	-88
	Total	7 182	3 551	5 958
Multi-jurisdictional(a)		574	350	350
Total		20 632	18 481	21 017
- 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 currently falling into this category are public universities.

BALANCE SHEET RESULTS

GFS net worth reflects the contribution of governments to the wealth of Australia. The consolidated net worth as at 30 June 2005 for the general government sector for all levels of government was $572,347 million. The consolidated net worth for the total public sector was $523,549 million.

The following table presents selected balance sheet aggregates for the general government, the non-financial public sector and the total public sectors as at 30 June 2005 across the various levels of government.

BALANCE SHEET RESULTS - AT 30 JUNE 2005
		General Government	Non-financial Public Sector	Total Public Sector
		$m	$m	$m
All levels of government
	Total assets	909 641	965 868	1 075 049
	Total liabilities	337 293	411 165	520 333
	Shares and other contributed capital	-	31 159	31 166
	GFS Net worth	572 347	523 543	523 549
Commonwealth government
	Total assets	174 544	176 571	245 242
	Total liabilities	200 189	220 862	289 534
	Shares and other contributed capital	-	30 344	30 344
	GFS Net worth	-25 645	-74 635	-74 635
State and local governments
	Total assets	708 213	760 730	807 262
	Total liabilities	136 490	189 009	235 529
	GFS Net worth	571 722	571 722	571 727
Multi-jurisdictional(a)
	Total assets	33 061	34 949	34 949
	Total liabilities	6 791	7 675	7 675
	GFS Net worth	26 270	26 457	26 457
- 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 currently falling into this category are public universities.

The following graph shows the total public sector GFS net worth as at 30 June 2005 as a percentage of gross domestic product (GDP) for all levels of government. The negative Net Worth of the Commonwealth arises largely due to unfunded superannuation and other employee entitlement liabilities carried on its books.

GFS NET WORTH AS A PERCENTAGE OF GDP

MAJOR AGGREGATES: GENERAL GOVERNMENT, ALL LEVELS OF GOVERNMENT
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	243 123	257 110	263 053	286 736	310 840	335 680
GFS Expenses	227 035	249 604	262 876	275 198	295 180	316 260
GFS Net Operating Balance	16 089	7 506	178	11 538	15 660	19 419
Net acquisition of non-financial assets	2 460	2 963	4 115	3 353	5 470	5 754
GFS Net Lending(+)/Borrowing(-)	13 629	4 543	-3 938	8 185	10 190	13 666
Cash Surplus (+)/Deficit (-)	15 032	8 581	3 650	11 704	14 669	20 632
Total assets	671 526	683 458	714 191	769 710	831 549	909 641
Total liabilities	302 312	300 426	308 338	323 611	321 951	337 293
GFS Net worth	369 214	383 032	405 852	446 098	509 598	572 347

MAJOR AGGREGATES: GENERAL GOVERNMENT, COMMONWEALTH
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	166 926	185 716	190 156	206 620	221 910	241 885
GFS Expenses	156 338	181 054	194 042	200 448	214 778	230 788
GFS Net Operating Balance	10 588	4 662	-3 886	6 173	7 132	11 097
Net acquisition of non-financial assets	-1 226	-1 174	-371	-218	726	154
GFS Net Lending(+)/Borrowing(-)	11 814	5 836	-3 515	6 391	6 406	10 942
Cash Surplus (+)/Deficit (-)	12 944	5 906	-1 112	7 404	7 971	13 505
Total assets	149 974	145 678	142 173	146 075	159 484	174 544
Total liabilities	190 751	188 342	186 542	193 237	189 806	200 189
GFS Net worth	-40 776	-42 664	-44 369	-47 162	-30 322	-25 645

MAJOR AGGREGATES: GENERAL GOVERNMENT, STATE GOVERNMENTS
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	95 226	101 269	106 833	113 838	124 021	131 915
GFS Expenses	90 853	99 654	104 185	109 611	117 328	125 171
GFS Net Operating Balance	4 373	1 615	2 648	4 226	6 693	6 745
New South Wales	2 036	1 545	1 569	1 800	1 126	695
Victoria	1 793	1 196	1 648	1 508	946	797
Queensland	1 062	-856	-895	17	3 337	3 924
South Australia	-329	-298	-97	448	387	225
Western Australia	-28	200	229	289	832	1 201
Tasmania	123	102	143	170	315	241
Northern Territory	-330	-79	61	-	-40	-26
Australian Capital Territory	48	-55	8	12	-197	-291
Net acquisition of non-financial assets	2 649	2 970	3 094	2 235	2 620	2 741
GFS Net Lending(+)/Borrowing(-)	1 724	-1 356	-447	1 992	4 073	4 004
New South Wales	1 431	667	569	638	6	-202
Victoria	1 159	543	728	614	-117	339
Queensland	-123	-1 669	-1 602	-139	2 837	2 871
South Australia	-466	-385	-125	413	425	120
Western Australia	-267	-387	7	188	597	908
Tasmania	165	130	167	212	379	210
Northern Territory	-304	-166	-251	-71	-21	-54
Australian Capital Territory	131	51	79	154	-19	-167
Cash Surplus (+)/Deficit (-)	1 833	2 761	4 205	4 393	6 817	7 803
New South Wales	1 926	1 825	2 550	2 327	1 444	1 253
Victoria	1 808	635	1 371	33	217	563
Queensland	-1 571	353	196	645	3 492	4 628
South Australia	-239	-106	-44	659	522	193
Western Australia	-378	-127	-30	174	459	858
Tasmania	218	147	214	302	370	242
Northern Territory	-64	-6	-242	25	38	53
Australian Capital Territory	188	241	263	257	300	35
Total assets	352 017	363 331	386 212	429 431	465 019	514 053
Total liabilities	105 082	105 337	113 446	121 818	122 734	126 721
GFS Net worth	246 935	257 994	272 767	307 612	342 285	387 333
New South Wales	88 068	91 810	98 431	121 039	124 283	128 690
Victoria	39 878	43 343	48 812	50 619	61 187	75 018
Queensland	57 775	57 623	58 092	64 893	77 724	96 433
South Australia	12 500	14 789	14 564	15 306	15 793	16 357
Western Australia	31 691	32 198	35 995	38 016	43 747	50 207
Tasmania	6 274	6 473	6 883	7 200	8 004	9 008
Northern Territory	3 537	4 407	2 165	1 910	2 166	2 353
Australian Capital Territory	7 214	7 351	7 825	8 629	9 380	9 265
- nil or rounded to zero (including null cells)

MAJOR AGGREGATES: TOTAL PUBLIC SECTOR, ALL LEVELS OF GOVERNMENT
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	293 527	311 672	313 604	337 176	362 459	391 555
GFS Expenses	277 746	299 893	310 798	323 519	342 754	366 779
GFS Net Operating Balance	15 781	11 779	2 806	13 657	19 705	24 776
Net acquisition of non-financial assets	4 004	4 121	6 494	6 036	9 266	11 345
GFS Net Lending(+)/Borrowing(-)	11 777	7 657	-3 688	7 621	10 439	13 431
Cash Surplus (+)/Deficit (-)	14 888	10 836	4 282	12 714	16 571	21 017
Total assets	777 147	825 929	850 852	908 091	971 134	1 075 049
Total liabilities	456 317	464 233	463 826	475 043	478 616	520 333
GFS Net worth	294 103	324 815	356 982	403 581	460 525	523 549

MAJOR AGGREGATES: TOTAL PUBLIC SECTOR, COMMONWEALTH GOVERNMENT
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	187 875	208 880	212 292	228 038	243 115	266 649
GFS Expenses	179 076	201 906	216 167	220 967	235 284	253 122
GFS Net Operating Balance	8 799	6 975	-3 875	7 071	7 831	13 527
Net acquisition of non-financial assets	839	-567	-636	-741	606	466
GFS Net Lending(+)/Borrowing(-)	7 960	7 541	-3 239	7 812	7 225	13 061
Cash Surplus (+)/Deficit (-)	8 995	7 524	-1 291	7 893	9 091	15 171
Total assets	186 350	204 002	202 113	200 030	215 310	245 242
Total liabilities	275 399	267 944	265 201	261 146	263 680	289 534
GFS Net worth	-115 887	-100 871	-93 238	-89 801	-79 546	-74 635

MAJOR AGGREGATES: TOTAL PUBLIC SECTOR, STATE GOVERNMENTS
	1999-2000	2000-01	2001-02	2002-03	2003-04	2004-05
	$m	$m	$m	$m	$m	$m
GFS Revenue	125 477	133 597	136 114	143 280	154 820	163 493
GFS Expenses	119 549	129 846	130 841	137 999	144 920	154 046
GFS Net Operating Balance	5 928	3 751	5 273	5 281	9 900	9 447
New South Wales	2 433	1 886	2 240	1 612	1 308	999
Victoria	1 569	1 030	2 388	1 653	2 628	1 555
Queensland	1 180	-538	-759	157	3 503	4 283
South Australia	-232	-149	-116	169	496	322
Western Australia	317	465	411	489	1 209	1 699
Tasmania	193	131	213	214	322	277
Northern Territory	-299	-75	70	-8	9	27
Australian Capital Territory	47	1	57	161	-151	-377
Net acquisition of non-financial assets	1 751	3 347	5 729	5 423	6 547	7 851
GFS Net Lending(+)/Borrowing(-)	4 178	404	-456	-142	3 353	1 596
New South Wales	556	873	-55	-667	-948	-1 501
Victoria	405	-83	793	-90	96	79
Queensland	-567	-2 022	-1 829	-865	2 802	1 736
South Australia	3 206	959	8	88	468	162
Western Australia	-214	-459	-45	136	113	655
Tasmania	246	190	-35	176	250	184
Northern Territory	-291	-212	-228	-68	-7	-92
Australian Capital Territory	142	106	156	300	-35	-304
Cash Surplus (+)/Deficit (-)	5 985	3 627	4 993	4 604	7 305	6 589
New South Wales	1 631	1 283	2 165	1 542	883	103
Victoria	1 434	857	1 943	313	1 339	763
Queensland	-1 918	-316	13	387	3 120	4 422
South Australia	3 858	1 468	152	392	613	406
Western Australia	-188	-661	-141	-53	49	48
Tasmania	300	147	43	398	315	228
Northern Territory	-49	-106	-233	100	61	-3
Australian Capital Territory	180	162	231	283	248	-88
Total assets	427 699	452 548	467 871	520 811	556 599	615 875
Total liabilities	180 763	194 555	195 101	213 195	214 312	228 531
GFS Net worth	246 935	257 994	272 770	307 613	342 286	387 338
New South Wales	88 068	91 810	98 431	121 040	124 281	128 690
Victoria	39 878	43 343	48 812	50 619	61 187	75 018
Queensland	57 775	57 623	58 092	64 891	77 724	96 433
South Australia	12 500	14 788	14 564	15 306	15 793	16 357
Western Australia	31 691	32 197	35 996	38 016	43 747	50 208
Tasmania	6 274	6 473	6 887	7 200	8 004	9 013
Northern Territory	3 537	4 408	2 165	1 910	2 166	2 354
Australian Capital Territory	7 214	7 351	7 825	8 629	9 380	9 265