1307.8 - Australian Capital Territory in Focus, 2007  
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Contents >> Government >> Government Finance Statistics

GOVERNMENT FINANCE STATISTICS

Operating statement

In the ACT in 2005-06, Government Finance Statistics (GFS) operating revenue totalled $2,694m, with 41% ($1,118m) from current grants and subsidies, and a further 29% ($782m) from taxation revenue. With expenses totalling $2,828m in the year, the ACT Government net operating balance (NOB) was -$134m and net lending was -$167m.


GFS NOB is a summary measure of the ongoing sustainability of government operations. It is the difference between GFS revenue and GFS expenses that reflects the change in net worth due to transactions. A positive NOB indicates an increase in the net worth of government and a negative NOB indicates a decrease in net worth.

3.6 ACT General Government operating statement

2003-04
2004-05
2005-06
$m
$m
$m

GFS Revenue
Taxation revenue
753
712
782
Current grants and subsidies
1 033
1 076
1 118
Sales of goods and services
260
274
310
Interest income
99
86
111
Other
218
243
373
Total
2 363
2 391
2 694
GFS Expenses
Gross operating expenses
Depreciation
134
151
158
Employee expenses
1 020
1 110
1 209
Other operating expenses
752
765
716
Total
1 907
2 027
2 083
Nominal superannuation interest expenses
97
105
144
Other interest expenses
54
54
59
Other property expenses
-
-
-
Current transfers
Grant expenses
342
381
399
Subsidy expenses
117
74
85
Other current transfers
-
-
-
Capital transfers
Grants to local governments
-
-
-
Other capital transfers
49
48
60
Total
2 565
2 687
2 828
equals
GFS Net Operating Balance
-202
-297
-134
less
Net acquisition of non-financial assets
Gross fixed capital formation
163
176
237
less Depreciation
134
151
158
plus Change in inventories
-
-
-
plus Other transactions in non-financial assets
-204
-158
-46
Total
-175
-134
33
equals
GFS Net Lending(+)/Borrowing(-)
-27
-163
-167

- nil or rounded to zero (including null cells)
Government Finance Statistics, Australia, 2005-06 (cat. no. 5512.0), Time series spreadsheets.



Expenses by purpose

Health and education remain the key purposes for which ACT government funds are used. In 2005-06, these purposes comprised 24% and 22%, respectively, of total ACT general government expenditure.

3.7 ACT General Government Expenses, By purpose

2003-04
2004-05
2005-06
$m
$m
$m

General public services
402
368
462
Defence
-
-
-
Public order and safety
219
211
226
Education
Primary and secondary
450
471
483
University
32
40
21
Technical and further education
72
72
74
Other tertiary
-
-
-
Other
25
31
45
Total
579
613
623
Health
Acute care institutions
322
359
400
Other health institutions
4
3
5
Community health services
98
113
133
Pharmaceutical
9
7
9
Other
91
108
108
Total
523
590
655
Social security and welfare
Social security
-
-
-
Welfare services
137
183
180
Other
-
-
-
Total
137
183
180
Housing and community amenities
Housing and community development
148
128
92
Water supply
9
-
1
Sanitation and protection of the environment
12
14
26
Other community amenities
3
4
38
Total
172
146
156
Recreation and culture
Recreational facilities and services
69
65
29
Cultural facilities and services
18
23
22
Broadcasting and film production
-
-
-
Other recreation and culture
8
7
1
Total
95
95
51
Fuel and energy
-
-
-
Agriculture, forestry and fishing
2
1
3
Mining, manufacturing and construction
-
-
-
Transport and communications
Road transport
155
144
152
Water transport
-
-
-
Rail transport
-
-
-
Air transport
-
-
-
Communications and other transport
5
12
12
Total
161
156
164
Other economic affairs
33
42
48
Nominal interest on superannuation
97
105
144
Public debt transactions
54
54
60
Other
91
124
57
Total
2 565
2 687
2 828

- nil or rounded to zero (including null cells)
Government Finance Statistics, Australia, 2005-06 (cat. no. 5512.0), Time series spreadsheets.



Taxation revenue

Taxes on property were the source of 51% ($399m) of the ACT Government’s taxation revenue in 2005-06. A further 26% ($204m) came from Taxes on employers’ payroll and labour force.


Overall total taxation revenue dropped by 10% ($70m) between 2004-05 and 2005-06. The biggest increase occurred in Stamp duties on conveyancing, up $33m (22%), while the biggest decrease occurred in Financial institutions transactions taxes, down $14m (82%).

3.8 ACT general government taxation revenue

2003-04
2004-05
2005-06
$m
$m
$m

Taxes on employers payroll and labour force
Employers payroll taxes
177
185
204
Taxes on property
Taxes on immovable property
Land taxes
49
56
59
Municipal taxes
119
124
142
Other
9
5
12
Total
178
185
213
Taxes on financial and capital transactions
Financial institutions transactions taxes
17
17
3
Government borrowing guarantee levies
-
-
-
Stamp duties on conveyancing
192
148
181
Other stamp duties
18
6
2
Total
228
171
187
Total
406
356
399
Taxes on the provision of goods and services
Excises and levies
Agricultural production taxes
-
-
-
Levies on statutory corporations
-
-
-
Total
-
-
-
Taxes on gambling
Taxes on government lotteries
6
6
6
Taxes on private lotteries
7
7
7
Taxes on gambling machines
33
31
31
Casino taxes
2
2
2
Race betting taxes
1
1
1
Taxes on gambling n.e.c.
-
-
-
Total
50
48
47
Taxes on insurance
Insurance companies contributions to fire brigades
-
-
-
Third party insurance taxes
-
-
-
Taxes on insurance n.e.c.
38
38
41
Total
38
38
41
Total
87
86
88
Taxes on the use of goods and performance of activities
Motor vehicle taxes
Stamp duty on vehicle registration
24
24
24
Other
59
61
66
Total
83
85
90
Franchise taxes
Gas taxes
-
-
-
Petroleum products taxes
-
-
-
Tobacco taxes
-
-
-
Liquor taxes
-
-
-
Total
-
-
-
Other
-
-
-
Total
83
85
90
Total
753
712
782
Taxes received from public corporations
15
17
25
Taxes received from other levels of government
5
5
5

- nil or rounded to zero (including null cells)
Taxation Revenue, Australia, 2005-06 (cat. no. 5506.0).


In 2005-06, the ACT Government charged residents an average of $2,386 a year in property taxes, stamp duty, gambling taxes, payroll and other taxes. Across states and territories, Western Australia recorded the highest taxation per capita ($3,015) and Tasmania recorded the lowest ($1,860). All states and territories recorded an increase in taxation per capita between 2004-05 and 2005-06.

3.9 Taxation per capita(a)

2003-04
2004-05
2005-06
Level of government
$
$
$

State and Local
Australian Capital Territory
2 331
2 195
2 386
New South Wales
2 601
2 647
2 721
Victoria
2 458
2 539
2 651
Queensland
2 127
2 187
2 287
South Australia
2 281
2 394
2 433
Western Australia
2 506
2 600
3 015
Tasmania
1 697
1 818
1 860
Northern Territory
1 595
1 783
2 137
Average
2 404
2 471
2 594
Commonwealth Government
10 487
11 340
11 976
All levels of government
12 874
13 792
14 551

(a) Population estimates used to calculate taxation per capita are the estimated resident population (ERP) at 31 December each year, as published in Australian Demographic Statistics (cat. no. 3101.0).
Taxation Revenue, Australia, 2005-06 (cat. no. 5506.0).



Cash flow statement

The GFS Surplus/Deficit is a broad indicator of cash flow requirements. When this measure is positive (in surplus), it reflects the extent to which cash is available to the government to either increase its financial assets or decrease its liabilities (assuming no revaluations or other changes occur). When this measure is negative (in deficit), it reflects the extent to which the government requires cash, by running down its financial assets, or by drawing on the cash reserves of the domestic economy, or by borrowing from overseas.


In 2005-06, the ACT Government recorded a surplus of $76m. This represented an increase of 177% over that recorded for the previous year.

3.10 ACT General Government Cash Flow Statement

2003-04
2004-05
2005-06
$m
$m
$m

Cash Flow Statement

Cash receipts from operating activities
Taxes received
750
723
782
Receipts from sales of goods and services
284
318
338
Grants and subsidies received
1 063
1 117
1 184
Other receipts
417
422
439
Total
2 514
2 580
2 743
Cash payments for operating activities
Payments for goods and services
-1 471
-1 708
-1 648
Grants and subsidies paid
-463
-494
-534
Interest paid
-54
-55
-60
Other payments
-267
-261
-260
Total
-2 255
-2 518
-2 502
Net cash flows from operating activities
259
63
241
Net cash flows from investments in non-financial assets
Sales of non-financial assets
208
161
51
Purchases of new non-financial assets
-167
-189
-217
Purchases of secondhand non-financial assets
-
-
-
Total
41
-28
-165
Net cash flows from investments in financial assets for policy purposes
-26
12
9
Net cash flows from investments in financial assets for liquidity purposes
-95
-127
48
Net cash flows from financing activities
Advances received (net)
-11
-11
-11
Borrowings (net)
-56
-63
-16
Deposits received (net)
-
-
-
Other financing (net)
-3
17
-31
Total
-70
-57
-58
Net Increase(+)/Decrease(-) in Cash Held
109
-137
74

Surplus(+)/Deficit(-)

Net cash flows from operating activities, net cash flows from investments in non-financial assets and distributions paid
299
35
76
Acquisitions of assets under finance leases and similar arrangements
-
-
-
Surplus(+)/Deficit(-)
299
35
76

- nil or rounded to zero (including null cells)
Government Finance Statistics, Australia, 2005-06 (cat. no. 5512.0), Time series spreadsheets.
Negative figures denote outflows.



Balance sheet

GFS net worth reflects the contribution of the ACT Government to the wealth of the ACT. The net worth as at 30 June 2006 was $9,445m, an increase of 2% from $9,265m recorded a year earlier.


The most significant assets held by the ACT Government were Land and fixed assets of $6,192m, followed by Equity of $4,219m. The most significant liabilities were Unfunded superannuation and other employee liabilities of $3,156m, followed by Borrowing of $699m.

3.11 ACT General Government Balance Sheet, as at 30 June

2004
2005
2006
$m
$m
$m

Assets
Financial assets
Cash and deposits
64
65
73
Advances paid
502
506
511
Investments, loans and placements
2 254
2 362
2 657
Other non-equity assets
258
146
170
Equity
3 895
4 010
4 219
Total
6 972
7 089
7 630
Non-financial assets
Land and fixed assets
5 656
6 084
6 192
Other non-financial assets
352
123
103
Total
6 008
6 207
6 295
Total
12 980
13 296
13 925
Liabilities
Deposits held
56
23
74
Advances received
262
251
240
Borrowing
633
667
699
Unfunded superannuation liability and other employee entitlements
2 338
2 789
3 156
Other provisions
22
8
28
Other non-equity liabilities
289
293
283
Total
3 600
4 031
4 480
GFS Net Worth
9 380
9 265
9 445
Net debt
-1 869
-1 993
-2 228
Net financial worth
3 372
3 058
3 150

Government Finance Statistics, Australia, 2005-06 (cat. no. 5512.0), Time series spreadsheets.


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