5512.0 - Government Finance Statistics, Australia, 2017-18 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 29/04/2019   
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KEY GOVERNMENT FINANCE STATISTICS

ACCRUAL OPERATING RESULTS

The GFS net operating balance for all levels of government in 2017-18 was $9,839m for the general government sector and -$2,907m for the total public sector.

GFS net lending/borrowing for all levels of government in 2017-18 was -$20,242m for the general government sector and -$42,218m for the total public sector.


OPERATING RESULTS, By Sector, 2017-18

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
2017-18
2017-18
2017-18
$m
$m
$m

All levels of government
GFS Revenue
656 956
710 796
720 125
GFS Expenses
647 116
707 975
723 031
GFS Net operating balance
9 839
2 821
-2 907
Net acquisition of non-financial assets
30 081
39 877
39 312
GFS Net lending(+)/borrowing(-)
-20 242
-37 056
-42 218
Commonwealth Government
GFS Revenue
459 368
469 809
470 627
GFS Expenses
463 865
478 923
480 237
GFS Net operating balance
-4 497
-9 114
-9 609
Net acquisition of non-financial assets
1 284
6 722
6 719
GFS Net lending(+)/borrowing(-)
-5 781
-15 836
-16 328
State and local government
GFS Revenue
310 234
352 534
361 094
GFS Expenses
292 788
337 881
351 674
GFS Net operating balance
17 447
14 652
9 420
Net acquisition of non-financial assets
27 396
31 704
31 141
GFS Net lending(+)/borrowing(-)
-9 950
-17 051
-21 721
Control not further defined(b)
GFS Revenue
30 752
33 346
33 346
GFS Expenses
29 625
31 829
31 829
GFS Net operating balance
1 127
1 516
1 516
Net acquisition of non-financial assets
1 401
1 452
1 452
GFS Net lending(+)/borrowing(-)
-274
65
65

(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with the total public sector figures due to transfers between levels of government.
(b) The control not further defined (n.f.d.) 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

The cash operating result for all levels of government in 2017-18 was a deficit of -$18,309m for the general government sector and a deficit of -$31,198m for the total public sector.


CASH OPERATING RESULTS, By Sector, 2017-18

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
2017-18
2017-18
2017-18
$m
$m
$m

GFS Cash surplus(+)/deficit(-)
Commonwealth Government
-5 790
-13 943
-13 896
State and local government
New South Wales
-310
-3 389
-3 354
Victoria
-4 694
-5 157
-4 444
Queensland
605
839
-407
South Australia
-468
-655
-450
Western Australia
-1 867
-3 080
-2 941
Tasmania
16
19
226
Northern Territory
-573
-688
-679
Australian Capital Territory
123
63
63
Total state and local government
-7 160
-12 034
-11 970
Control not further defined(b)
-1 333
-1 305
-1 305
All levels of government
-18 309
-31 308
-31 198

(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with the total public sector figures due to transfers between levels of government.
(b) The control not further defined (n.f.d.) 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.


BALANCE SHEET RESULTS

GFS net worth reflects the contribution of governments to the wealth of Australia. The consolidated net worth as at 30 June 2018 for all levels of government was $915,224m.

BALANCE SHEET RESULTS, By Sector, At 30 June 2018

General Government Sector
Non-financial Public Sector
Total Public Sector(a)
at 30 June 2018
at 30 June 2018
at 30 June 2018
$m
$m
$m

All levels of government
Total assets
2 314 420
2 465 382
2 737 823
Total liabilities
1 399 195
1 550 158
1 822 599
GFS Net worth
915 224
915 224
915 224
Commonwealth Government
Total assets
559 493
576 147
740 957
Total liabilities
989 193
1 005 847
1 170 657
GFS Net worth
-429 700
-429 700
-429 700
State and local government
Total assets
1 688 871
1 824 099
1 933 024
Total liabilities
400 236
535 464
644 390
GFS Net worth
1 288 635
1 288 635
1 288 635
Control not further defined(b)
Total assets
77 935
77 939
77 939
Total liabilities
21 646
21 650
21 650
GFS Net worth
56 290
56 290
56 290

- nil or rounded to zero (including null cells)
(a) The total public sector comprises general government, public non-financial corporations and public financial corporations. The sum of individual levels of government or sectors may not agree with the total public sector figures due to transfers between level of government.
(b) The control not further defined (n.f.d.) 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.


CHANGES TO GOVERNMENT FINANCE STATISTICS

Australia's system for producing GFS has been updated as a result of revised international standards for compiling national accounts (2008 SNA) and the consequent revision of the International Monetary Fund's GFS Manual 2014 (IMF GFSM 2014). An updated ABS GFS Manual was released on 23 December 2015 to reflect the AGFS15 changes and can be found in Australian System of Government Finance Statistics: Concepts, Sources and Methods, 2015 (cat. no. 5514.0). AGFS15 is effective for all GFS data that is reported for all periods from 1 July 2017 onwards.

A range of conceptual changes under AGFS15 are outlined in the updated ABS GFS Manual. Details of the changes that impact annual GFS data are covered in a recent Information Paper: Forthcoming Changes to the Annual Publication for Government Finance Statistics (cat. no. 5512.0.55.001).


TRANSACTIONS RELATED TO VISA APPLICATION CHARGES

In December 2015, the Commonwealth Government released the 2015-16 Mid-Year Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa application charges (VAC). In MYEFO these charges are now treated as taxation revenue rather than sales of goods and services. This reclassification has been applied to GFS, with no impact on total GFS revenue or the GFS net operating balance. The National Accounts statistics will maintain coherence with previously published data and classify this transaction as sales of goods and services. These treatments will remain in place until a review of the treatment of VAC across macroeconomic statistics has been completed.


REVIEWING CONFIDENTIALISED HISTORICAL DATA

The ABS has reviewed the confidentialisation of historical GFS data following the release of the updated Census and Statistics Determination 2018. This Determination is a key legislative instrument that sets out the circumstances under which the ABS may release statistical information collected under the Census and Statistics Act 1905. This review has resulted in the release of previously confidentialised GFS data which will enable additional analysis across the historical time series. This is on the basis that data providers have not objected or demonstrated that the release of this data would identify them.


ABOUT THIS PUBLICATION

This publication presents government finance statistics on an accrual accounting basis for each jurisdiction for general government, public non-financial corporations, the non-financial public sector, public financial corporations and the total public sector for all levels of government, commonwealth government, state government, state and local government, local government and multi-jurisdictional as follows:
  • Operating statements;
  • Cash flow statements; and
  • Balance sheets.

Time series of these data are available on the ABS website for the periods 2008-09 to 2017-18.

Users interested in quarterly GFS data for the current financial year should refer to Government Finance Statistics, Australia, Quarterly (cat. no. 5519.0.55.001).


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email <client.services@abs.gov.au> or email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.