Latest release

Government Finance Statistics, Annual

Statistics about finances of the general government and public corporation sectors for the various levels of government in Australia

Reference period
2018-19 financial year

Key statistics

  • The net operating balance was $17,300m for the general government sector.
  • The net operating balance was $3,474m for the total public sector.
  • The net lending/borrowing -$23,204m for the general government sector.
  • The net lending/borrowing -$47,530m for the total public sector.

Government finance statistics

​​​​​​​Accrual operating results

The GFS net operating balance for all levels of government in 2018-19 was $17,300m for the general government sector and $3,474m for the total public sector.

GFS net lending/borrowing for all levels of government in 2018-19 was -$23,204m for the general government sector and -$47,530m for the total public sector.

Operating results, by sector, 2018-19

 General Government Sector
2018-19
Non-financial Public Sector
2018-19
Total Public Sector(a)
2018-19
 $m$m$m
All levels of government   
 GFS Revenue696 913753 975765 985
 GFS Expenses679 613745 061762 511
 GFS Net operating balance17 3008 9143 474
 Net acquisition of non-financial assets40 50351 23851 003
 GFS Net lending(+)/borrowing(-)-23 204-42 324-47 530
Commonwealth Government   
 GFS Revenue492 347505 958507 861
 GFS Expenses488 173506 914508 436
 GFS Net operating balance4 174-957-575
 Net acquisition of non-financial assets5 27311 28211 091
 GFS Net lending(+)/borrowing(-)-1 099-12 239-11 666
State and local government   
 GFS Revenue323 588368 074378 236
 GFS Expenses307 914355 655371 649
 GFS Net operating balance15 67412 4096 586
 Net acquisition of non-financial assets33 19937 92637 882
 GFS Net lending(+)/borrowing(-)-17 525-25 517-31 296
Control not further defined(b)   
 GFS Revenue33 06633 06633 066
 GFS Expenses31 77731 77731 777
 GFS Net operating balance1 2891 2891 289
 Net acquisition of non-financial assets2 0312 0312 031
 GFS Net lending(+)/borrowing(-)-741-741-741
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 2018-19 was a deficit of -$8,658m for the general government sector and a deficit of -$23,859m for the total public sector.

Cash operating results, by sector, 2018-19

 General Government Sector
2018-19
Non-financial Public Sector
2018-19
Total Public Sector(a)
2018-19
 $m$m$m
GFS Cash surplus(+)/deficit(-)   
 Commonwealth Government5 298-3 400-2 691
 State and local government   
  New South Wales-7 534-12 758-12 992
  Victoria-1 384-2 200-1 369
  Queensland472-10-1 437
  South Australia-401-829
  Western Australia-235-640-651
  Tasmania-204-183-240
  Northern Territory-746-728-730
  Australian Capital Territory-224-81-81
  Total state and local government-10 229-16 642-17 450
 Control not further defined(b)-1 396-1 396-1 396
 All levels of government-8 658-23 760-23 859
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 2019 for all levels of government was $800,260m.

Balance sheet results, by sector, at 30 June 2019

 General Government Sector
at 30 June 2019
Non-financial Public Sector
at 30 June 2019
Total Public Sector(a)
at 30 June 2019
  $m$m$m
All levels of government   
 Total assets2 412 3902 565 7392 882 279
 Total liabilities1 612 1301 765 4552 081 880
 GFS Net worth800 260800 284800 399
Commonwealth Government   
 Total assets601 839621 411778 076
 Total liabilities1 154 3191 173 8911 330 544
 GFS Net worth-552 480-552 480-552 468
State and local government   
 Total assets1 740 7591 875 2662 036 123
 Total liabilities446 286580 786741 539
 GFS Net worth1 294 4741 294 4811 294 584
Control not further defined(b)   
 Total assets81 65381 65381 653
 Total liabilities23 39223 39223 392
 GFS Net worth58 26058 26058 260
- 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.
 

Transactions related to visa application changes

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.

Time series total public sector, 2013-14 to 2018-19

Total public sector, all levels of government

For the total public sector across all levels of government, GFS revenue increased by $45,659m (6.3%) from $720,326m in 2017-18 to $765,985m in 2018-19. Over the same period GFS expenses increased by $39,589m (5.5%) from $722,922m to $762,511m. As a result the GFS net operating balance moved from -$2,596m in 2017-18 to $3,473m in 2018-19.

Between 30 June 2018 and 30 June 2019 GFS net worth across the total public sector for all levels of government moved from $917,251m to $800,399m.

The following tables show a time series of major aggregates for the total public sector across different levels of government.

Operating results, total public sector, all levels of government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Revenue605 503617 756639 691671 535720 326765 985
GFS Expenses634 643649 795670 097695 720722 922762 511
GFS Net operating balance-29 140-32 039-30 405-24 185-2 5963 473
Net acquisition of non-financial assets32 43827 60331 95535 83443 27151 003
GFS Net lending(+)/borrowing(-)-61 578-59 642-62 361-60 019-45 867-47 530
 

Cash flow results, total public sector, all levels of government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)-54 578-46 605-54 025-48 529-30 127-23 859
 

Balance sheet results, total public sector, all levels of government

 at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018at 30 June 2019
 $m$m$m$m$m$m
Total assets2 211 1412 330 8492 476 6032 642 3142 745 8762 882 279
Total liabilities1 391 7271 503 8681 712 0601 758 0131 828 6252 081 880
GFS Net worth819 414826 981764 544884 301917 251800 399
 

Total public sector, Commonwealth Government

For the Commonwealth Government total public sector, GFS revenue increased by $37,182m (7.9%) from $470,679m in 2017-18 to $507,861m in 2018-19. Over the same period GFS expenses increased by $28,204m (5.9%) from $480,232m to $508,436m. As a result the GFS net operating balance moved from -$9,554m in 2017-18 to -$575m in 2018-19.

Between 30 June 2018 and 30 June 2019 the GFS net worth for the Commonwealth Government total public sector moved from -$427,409m to -$552,468m.

Operating results, total public sector, Commonwealth Government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Revenue390 486393 750405 013428 467470 679507 861
GFS Expenses422 680433 006443 786464 917480 232508 436
GFS Net operating balance-32 195-39 256-38 774-36 450-9 554-575
Net acquisition of non-financial assets8 5677 7507 7446 4319 61611 091
GFS Net lending(+)/borrowing(-)-40 762-47 006-46 517-42 881-19 170-11 666
 

Cash flow results, total public sector, Commonwealth Government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)-38 177-37 441-43 726-40 713-13 883-2 691
 

Balance sheet results, total public sector, Commonwealth Government

 at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018at 30 June 2019
 $m$m$m$m$m$m
Total assets544 713585 393633 756714 312743 245778 076
Total liabilities792 816887 2271 049 8431 113 1581 170 6541 330 544
GFS Net worth-248 103-301 834-416 087-398 845-427 409-552 468
 

Total public sector, state government

The GFS net operating balance for state government total public sector moved from -$274m in 2017-18 to -$3,994m in 2018-19.

Between 30 June 2018 and 30 June 2019 the GFS net worth for the state government total public sector moved from $822,541m to $813,659m.

Operating results, total public sector, state government

  2013-142014-152015-162016-172017-182018-19
  $m$m$m$m$m$m
GFS Net operating balance      
New South Wales2 2455 3794 2845 2033 648-1 257
Victoria624-1 1671 382-281-1 205-1 881
Queensland-919-914-7302 656143-1 386
South Australia-1 011-332-178-100-591530
Western Australia230-562-2 844- 922-1 928682
Tasmania47-1146781119098
Northern Territory130521354-102-421-408
Australian Capital Territory-268-282-284-207-103-325
Total all states1 0672 5162 0285 040-274-3 994
GFS Net lending(+)/borrowing(-)      
New South Wales-2 204118-3 403-5 787-7 932-14 548
Victoria-2 112-3 218-1 871-4 008-9 710-9 405
Queensland-5 552-2 852-2 646110-2 053-4 683
South Australia-1 579-208-357-3 116-933-389
Western Australia-3 045-2 898-5 510-4 355-3 084-1 105
Tasmania-206-108-86505-161-406
Northern Territory-96-111-89-576-830-855
Australian Capital Territory-565-852-503-126-287-1 501
Total all states-15 371-10 143-14 487-17 370-24 995-32 937
 

Cash flow results, total public sector, state government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)      
New South Wales1 0572 169-1 435-3 671-4 706-12 841
Victoria670-1 296781-476-5 003-2 196
Queensland-5 910-2 188-1 8672 150-495-1 546
South Australia-2 198-2 907-505-831-63063
Western Australia-2 424-2 411-4 700-4 797-2 837-808
Tasmania-122462613310-170
Northern Territory42339-101-480-739-853
Australian Capital Territory-186-733-61411161-81
Total all states-8 961-7 005-8 376-7 380-14 022-18 392
 

Balance sheet results, total public sector, state government

 at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018at 30 June 2019
 $m$m$m$m$m$m
GFS Net worth      
New South Wales165 405178 267179 718226 765255 952251 311
Victoria130 735139 516151 886170 715187 004184 181
Queensland171 420169 523193 314196 262196 327202 459
South Australia39 65539 95237 61442 45043 02541 586
Western Australia117 121121 779115 364111 021103 159100 682
Tasmania9 3578 5907 1689 62110 5499 318
Northern Territory7 7669 8109 69011 05510 6419 475
Australian Capital Territory15 23914 83312 85716 13415 88314 648
Total all states656 698682 271707 610784 023822 541813 659

Time series general government sector, 2013-14 to 2018-19

General government sector, all levels of government

GFS revenue for the general government sector across all levels of government increased by $39,849m (6.1%) from $657,064m in 2017-18 to $696,913m in 2018-19. Over the same period GFS expenses increased by $32,666 (5.0%) from $646,947m to $679,613m. As a result the GFS net operating balance moved from $10,117m to $17,300m.

Between 30 June 2018 and 30 June 2019 GFS net worth for all levels of government moved from $917,251m to $800,260m.

The following tables show a time series of major aggregates for the general government sector across different levels of government.

Operating results, general government sector, all levels of government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Revenue539 014556 051577 664609 583657 064696 913
GFS Expenses564 340583 401600 206623 179646 947679 613
GFS Net operating balance-25 326-27 350-22 542-13 59610 11717 300
Net acquisition of non-financial assets21 47120 09421 46224 78433 81440 503
GFS Net lending(+)/borrowing(-)-46 797-47 444-44 005-38 380-23 697-23 204
 

Cash flow results, general government sector, all levels of government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)-47 120-34 465-37 316-32 643-17 540-8 658
 

Balance sheet results, general government sector, all levels of government

 at 30 June 2013at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018
 $m$m$m$m$m$m
Total assets1 842 0841 948 9152 066 3452 199 3672 316 5392 412 390
Total liabilities1 022 6671 121 9331 301 8041 315 0651 399 2881 612 130
GFS Net worth819 417826 982764 542884 302917 251800 260
 

General government sector, Commonwealth Government

For the Commonwealth Government general government sector, GFS revenue increased by $32,926m (7.2%) from $459,421m in 2017-18 to $492,347m in 2018-19. Over the same period GFS expenses increased by $24,311m (5.2%) from $463,862m to $488,173m. As a result the GFS net operating balance moved from -$4,441m in 2017-18 to $4,174m in 2018-19.

Between 30 June 2018 and 30 June 2019 GFS net worth for Commonwealth Government general government sector moved from -$427,409m to -$552,480m.

Operating results, general government sector, Commonwealth Government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Revenue374 829382 186395 636420 093459 421492 347
GFS Expenses405 943419 020430 889450 102463 862488 173
GFS Net operating balance-31 114-36 834-35 253-30 009-4 4414 174
Net acquisition of non-financial assets4 0164 7742 9536064 1815 273
GFS Net lending(+)/borrowing(-)-35 131-41 608-38 206-30 615-8 622-1 099
 

Cash flow results, general government sector, Commonwealth Government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)-35 523-33 484-36 315-30 965-5 7905 298
 

Balance sheet results, general government sector, Commonwealth Government

 at 30 June 2013at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018
 $m$m$m$m$m$m
Total assets408 795440 812477 564524 644561 784601 839
Total liabilities656 898742 646893 651923 489989 1931 154 319
GFS Net worth-248 103-301 834-416 087-398 845-427 409-552 480
 

General government sector, state government

The total all states GFS net operating balance for state government general government sector moved from $7,919m in 2017-18 to $5,292m in 2018-19.

Between 30 June 2018 and 30 June 2019 GFS net worth for state government general government sector moved from $822,541m to $813,652m.

Operating results, general government sector, state government

  2013-142014-152015-162016-172017-182018-19
  $m$m$m$m$m$m
GFS Net operating balance      
New South Wales1 1373 6194 5915 7285 2731 667
Victoria2 5861 2882 8952 0991 9371 377
Queensland6255329693 5841 990735
South Australia-1 021-200297433-156829
Western Australia718-428-2 109-2 474-7161 423
Tasmania-166-931078064841
Northern Territory120483323-63-375-439
Australian Capital Territory-234-256-273-137-81-311
Total all states3 7644 9436 7869 9707 9195 292
GFS Net lending(+)/borrowing(-)      
New South Wales-1 34661271-503-3 061-8 992
Victoria1 104-42355-2 026-6 164-5 909
Queensland-2 585-659-4781 332-108-2 358
South Australia-1 699-12294-2 324-889192
Western Australia-1 129-1 914-3 442-3 941-1 981281
Tasmania-160-5545680-81-243
Northern Territory-101-121-22-469-703-876
Australian Capital Territory-575-912-627-209-238-1 429
Total all states-6 494-3 595-4 317-7 467-13 226-19 365
 

Cash flow results, general government sector, state government

 2013-142014-152015-162016-172017-182018-19
 $m$m$m$m$m$m
GFS Cash surplus(+)/deficit(-)      
New South Wales1 7012 5703 229901-1 671-7 382
Victoria757-2111 208-1 020-5 254-2 210
Queensland-3 346-1108442 187546307
South Australia-2 13510266337-757-347
Western Australia-1 333-1 494-3 664-3 724-1 958-426
Tasmania6836612067040-154
Northern Territory-39455-42-430-633-869
Australian Capital Territory-10-596-662233120-224
Total all states-4 3371 0831 098-844-9 557-11 278
 

Balance sheet results, general government sector, state government

 at 30 June 2014at 30 June 2015at 30 June 2016at 30 June 2017at 30 June 2018at 30 June 2019
 $m$m$m$m$m$m
GFS Net worth      
New South Wales165 405178 267179 718226 765255 952251 311
Victoria130 735139 516151 886170 715187 004184 181
Queensland171 420169 523193 315196 262196 327202 459
South Australia39 65839 95237 61142 45043 02541 586
Western Australia117 121121 779115 364111 021103 159100 675
Tasmania9 3578 5907 1689 62110 5499 318
Northern Territory7 7669 8109 69011 05510 6419 475
Australian Capital Territory15 23914 83312 85716 13415 88314 647
Total all states656 701682 271707 608784 024822 541813 652

General government expenses by purpose

Total general government expenses for all levels of government were $679,613m in 2018-19. The major contributors were expenditure on Social protection (27.9%), Health (20.4%), Education (15.5%) and General public services (10.6%).

Download

Expenses by purpose, general government sector, Commonwealth and state government(a)

 Cwth 2018-19NSW 2018-19Vic 2018-19Qld 2018-19SA 2018-19WA 2018-19Tas 2018-19NT 2018-19ACT 2018-19All Levels(b) 2018-19
 $m$m$m$m$m$m$m$m$m$m
General public services112 2567 3924 3115 6381 4371 48660744297371 911
Defence34 709--------34 709
Public order and safety6 1078 2278 1615 2372 0233 58567180247635 533
Economic affairs21 0332 5361 8522 0747361 0171784609531 057
Environmental protection5 4241 5789391 07840738513912612315 410
Housing and community amenities2 7558131 9381 0602811 438141364379 586
Health82 71022 95519 41817 9966 2459 0131 9521 6081 687138 525
Recreation, culture and religion3 6619741 05982238872515120619714 347
Education38 26421 65415 91614 3454 9847 6011 5861 1781 403105 102
Social protection173 1967 4696 4004 6062 1182 7555791 017460189 638
Transport8 0578 3788 3236 2421 0642 42530834846933 796
Total expenses4881738197668317590991968230431631365515920679613
- nil or rounded to zero (including null cells)
a. The expenses by purpose data in this table are consistent with the underlying transactions data reported in 5512.0 for each jurisdiction. These data do not necessarily align with the data published by each Treasury. For further information on other differences please see paragraphs 46 to 51 of the Explanatory Notes.
b. All levels of government includes the Commonwealth, state, control n.f.d. and local government sectors.
 

Expense by purpose, general government sector, local government

 NSW
2018-19
Vic
2018-19
Qld
2018-19
SA
2018-19
WA
2018-19
Tas
2018-19
NT
2018-19
Total
2018-19
 $m$m$m$m$m$m$m$m
General public services2 9811 6212 9101519021741938 931
Public order and safety386216175501519251 012
Economic affairs60443441316019034221 857
Environmental protection2 3751 3231 229412295100215 755
Housing and community amenities1 1606251 38521941766603 931
Health99183566076125491
Recreation, culture and religion1 7801 7061 239569948137656 445
Education94133451237
Social protection4089755413219722411 829
Transport2 0661 7252 6115251 098247518 322
Total expenses11 9528 94210 0762 2784 27980048438 810
- nil or rounded to zero (including null cells)

Statement of stocks and flows

The international Government Finance Statistics (GFS) standard as promulgated by the International Monetary Fund (IMF) recommends that opening and closing 'stock' values be reconciled with all 'flows' occurring throughout the year. The standard is based on an analytical framework in which all changes in the values of stocks from one year to the next can be fully explained by the flows that have occurred during that year.

Institutional units hold assets (financial and non-financial) and incur liabilities (which by definition are financial). The level of these assets and liabilities at any point in time is the stock. The difference between assets and liabilities is net worth, which is a measure of the 'wealth' of units or of government. Anything which causes a change in these stocks of assets and liabilities is a flow. Flows are disaggregated into transactions and 'other economic flows'. A transaction is, for the most part, an interaction between two units by mutual agreement, whereas an other economic flow is a change in the volume or value of a stock of a unit not resulting from a transaction. Other economic flows can be disaggregated into movements in asset/liability values resulting from price changes ('revaluations') and those resulting from volume changes ('other changes in volume').

For more information on the statement of stocks and flows, refer to Chapter 4 in Australian System of Government Finance Statistics: Concepts, Sources and Methods, 2015 (cat. no. 5514.0) and Chapter 3 of the IMF's Government Finance Statistics Manual 2014 (GFSM 2014).

Commonwealth general government

The statement of stocks and flows for the Commonwealth general government sector is presented in Table 1. During 2018-19 the net worth of the Commonwealth general government sector decreased by $125,071m. This was the result of other economic flows of -$129,245m and a GFS net operating balance (which reflects the change in net worth due to transactions) of $4,174m.

Table 1, Statement of stocks and flows, general government sector, Commonwealth Government

   Opening stocks as at 1 July 2018TransactionsOther economic flows(a)Closing stocks as at 30 June 2019
   $m$m$m$m
Assets    
 Non-financial assets    
  Buildings and structures25 77529750626 578
  Machinery and equipment15 237293-56514 965
  Other fixed produced assets66 0294 17082171 020
  Other produced assets20 472641-14620 967
  Land10 025246-18210 089
  Other non-produced assets3 923-3747914 340
  Total non-financial assets141 4615 2731 225147 959
 Financial assets    
  Currency and deposits6 7831 738-8 521
  Advances56 05712 2827 05575 394
  Securities, investments, loans and placements190 610-1 061- 1 600187 949
  Equity including contributed capital112 48327011 697124 450
  Other financial assets54 3913 175-57 566
  Total financial assets420 32316 40417 153453 880
Total assets561 78421 67718 378601 839
less    
Liabilities    
 Currency and deposits4 56264-4 626
 Advances----
 Securities, investments, loans and placements595 01910 84139 182645 042
 Provisions for superannuation313 452-101 775415 227
 Other liabilities76 1606 5986 66689 424
 Total liabilities989 19317 503147 6231 154 319
equals    
GFS Net worth-427 4094 174-129 245- 552 480
Net financial worth-568 870. .. .-700 439
. . not applicable
- nil or rounded to zero (including null cells)
a. Other economic flows are primarily a result of holding gains and losses (revaluations).
 

State and local general government

During 2018-19 the net worth of the state general government sector decreased by $8,889m, driven by -$14,181m from other economic flows and a GFS net operating balance of $5,292m.

Table 2, Statement of stocks and flows, general government sector, total state government

   Opening stocks as at 1 July 2018TransactionsOther economic flows(a)Closing stocks as at 30 June 2019
   $m$m$m$m
Assets    
 Non-financial assets    
  Buildings and structures431 54821 17214 499467 219
  Machinery and equipment16 9442 197-16218 979
  Other fixed produced assets5 896640-5006 036
  Other produced assets16 32785-5416 358
  Land240 8935976 173247 663
  Other non-produced assets3 947-33-2 7171 197
  Total non-financial assets715 55424 65717 241757 452
 Financial assets    
  Currency and deposits17 9861 583019 569
  Advances5 3331132275 673
  Securities, investments, loans and placements93 07010 774-5 80798 037
  Equity including contributed capital342 728-14 788-1 615326 325
  Other financial assets28 8094 324-33 133
  Total financial assets487 9262 006-7 194482 738
Total assets1 203 48026 66310 0471 240 190
less    
Liabilities    
 Currency and deposits3 8461 363-5 209
 Advances6 517-46016 058
 Securities, investments, loans and placements141 6823 9801 364147 026
 Provisions for superannuation144 869-25 488170 357
 Other liabilities84 02516 488-2 62597 888
 Total liabilities380 93921 37124 228426 538
equals    
GFS Net worth822 5415 292-14 181813 652
Net financial worth106 987. .. .56 200
. . not applicable
- nil or rounded to zero (including null cells)
a. Other economic flows are primarily a result of holding gains and losses (revaluations).
 

During 2018-19 the net worth of the local general government sector increased by $14,706m, driven by $4,356m from other economic flows and a GFS net operating balance of $10,350m.

Table 3, Statement of stocks and flows, general government sector, total local government

   Opening stocks as at 1 July 2018TransactionsOther economic flows(a)Closing stocks as at 30 June 2019
   $m$m$m$m
Assets    
 Non-financial assets    
  Buildings and structures311 6684 5947 118323 380
  Machinery and equipment5 6522 956-2 7005 908
  Other fixed produced assets613212-221604
  Other produced assets2 253-51702 418
  Land124 148737-380124 505
  Other non-produced assets160-27187
  Total non-financial assets444 4928 4934 017457 002
 Financial assets    
  Currency and deposits11 685650-12 335
  Advances11361120
  Securities, investments, loans and placements17 7051 555-52618 734
  Equity including contributed capital7 465-86558 112
  Other financial assets4 321322-4 643
  Total financial assets41 2902 52513043 945
Total assets485 78211 0184 146500 946
less    
Liabilities    
 Currency and deposits62547-672
 Advances193-120212
 Securities, investments, loans and placements10 758796-1 34810 206
 Provisions for superannuation--22
 Other liabilities8 198-1741 1189 142
 Total liabilities19 776668-20920 235
equals    
GFS Net worth466 00610 3504 356480 712
Net financial worth21 514. .. .23 710
. . not applicable
- nil or rounded to zero (including null cells)
a. Other economic flows are primarily a result of holding gains and losses (revaluations).

Public sector debt statistics

Public sector debt is defined as the level of debt liabilities owed by a government to its creditors. Public sector debt statistics can be used as a performance measure on the level of solvency and the liquidity of the public sector. They can also be used to assess the budget sustainability of governments.

The International Monetary Fund (IMF) released a staff discussion note titled What Lies Beneath: The Statistical Definition of Public Sector Debt in 2012. This note introduced the debt matrix - a grid presentation of public sector debt on both a gross and net basis, which enables the recording of debt based on type of debt instrument and level of government subsector.

With the implementation of AGFS15, the ABS has introduced the debt matrix presentation for public sector debt statistics, modified for the Australian situation. The ABS has broadened the financial assets and liabilities reported in the matrix beyond just debt instruments to also include other liabilities, namely equity.

The ABS has recognised that using a matrix-style presentation enables analysts and policy makers to analyse different measures of debt and other liabilities depending on their specific focus or interest. For example, if one is analysing a government’s liquidity, then the focus would be at the L1 to L3 level. However, if one is analysing a government’s longer term budget sustainability, then the focus would be at the L4 to L6 level.

Public sector debt and other liabilities on a gross basis

Gross public sector debt consists of all liabilities that are debt instruments. It is described as the stock position in financial claims that require payment(s) of interest and / or principal by the debtor to the creditor at a date (or dates) in the future. The matrix presented below also includes non-debt liabilities.

Headline gross public sector debt (L5 under AGFS15) for the All Australia general government sector was driven by debt securities ($636,357m) and insurance and superannuation liabilities ($423,612m) of the national sector, as well as insurance and superannuation liabilities ($173,628m) and loans ($125,919m) of the state sector.

Table 1, Matrix of gross public sector debt and other liabilities by level of government subsector

 National
General Government(a)
at 30 June 2019
Total State
General Government
at 30 June 2019
Total Local
General Government
at 30 June 2019
All Australia
General Government
at 30 June 2019
All Australia
Non-financial Public Sector
at 30 June 2019
All Australia
Total Public Sector
at 30 June 2019
 $m$m$m$m$m$m
 Debt securities636 35726 633-662 990676 503959 227
 plus Loans7 133125 91910 418140 428250 16255 207
Equals L1643 490152 55210 418803 418926 6651 014 434
 plus SDRs6 111--6 1116 1116 111
 plus Currency and deposits4 6355 20967210 5169 000162 441
Equals L2654 236157 76111 091820 045941 7771 182 986
 plus Other accounts payable91 85794 6179 142193 370219 025226 077
Equals L3746 093252 37820 2331 013 4151 160 8021 409 063
 plus Insurance and superannuation423 612173 6282597 242601 270660 287
Equals L4(b)1 169 705426 00620 2351 610 6571 762 0722 069 350
 plus Financial derivatives941532-1 4733 38312 530
Equals L5(c)1 170 646426 53820 2351 612 1301 765 4552 081 881
 plus Equities------
Equals L6(d)1 170 646426 53820 2351 612 1301 765 4552 081 880
a. National includes both the Commonwealth and Control not further defined (public universities) levels of government.
b. L4 is comparable to the IMF GFSM 2014 concept of headline gross public sector debt.
c. L5 is comparable to the Australian AGFS15 concept of headline gross public sector debt.
d. L6 includes other liabilities and is not included in headline measures of gross public sector debt.
 

Public sector debt and other liabilities on a net basis

Net public sector debt is described as gross debt minus the stock position in financial assets corresponding to debt instruments. The matrix presented below also includes non-debt liabilities and their corresponding financial assets.

Headline net public sector debt (L5 under AGFS15) for the All Australia general government sector was driven by a net debt position for debt securities ($525,201m) and insurance and superannuation ($423,612m) of the national sector, as well as insurance and superannuation ($173,628m) and loans ($113,434m) of the state sector. This was partially offset by a net asset position for loans of the national sector (-$68,273m), debt securities of the state sector (-$57,389m) and currency and deposits held by all levels of government (-$34,653m).

Table 2, Matrix of net public sector debt and other liabilities by level of government subsector(a)

 National
General Government(b)
at 30 June 2019
Total State
General Government
at 30 June 2019
Total Local
General Government
at 30 June 2019
All Australia
General Government
at 30 June 2019
All Australia
Non-financial Public Sector
at 30 June 2019
All Australia
Total Public Sector
at 30 June 2019
 $m$m$m$m$m$m
 Debt securities525 201-57 389-12 742455 070466 982519 057
 plus Loans-68 273113 4344 49149 652175 244-51 948
Equals L1456 92856 045-8 250504 722642 225467 109
 plus SDRs6 111  6 1116 1116 111
 plus Currency and deposits-8 630-14 360-11 663-34 653-45 08599 195
Equals L2(c)454 40941 685-19 913476 181603 251572 415
 plus Other accounts payable31 36161 4834 50097 232118 160120 674
Equals L3485 771103 168-15 414573 413721 411693 090
 plus Insurance and superannuation423 612173 6282597 242601 007660 024
Equals L4(d)909 383276 796-15 4121 170 6551 322 4171 353 114
 plus Financial derivatives-13 273-1 439-77-14 790-14 127-6 341
Equals L5(e)896 109275 358- 15 4891 155 8651 308 2901 346 773
 plus Equities-202 325-331 558-8 221-542 103-192 640-229 640
Equals L6(f)693 784-56 200-23 710613 7621 115 6501 117 133
a. National includes both the Commonwealth and Control not further defined (public universities) levels of government.
b. A positive value in this matrix indicates that the relevant stock of liabilities is greater than its corresponding stock of financial assets (an indebted position). A negative value indicates the opposite.
c. L2 is comparable to government reporting of net debt under Australian Accounting Standards.
d. L4 is comparable to the IMF GFSM 2014 concept of headline net public sector debt.
e. L5 is comparable to the Australian AGFS15 concept of headline net public sector debt.
f. L6 includes other liabilities and is not included in headline measures of net public sector debt.
 

Headline net public sector debt (L5 under AGFS15) of the All Australia general government sector as a percentage of GDP was 59.3% at 30 June 2019, driven by the national sector 46.0%.

Table 3, Matrix of net public sector debt and other liabilities as a percentage of GDP(a)(b)

 National
General Government(c)
at 30 June 2019
Total State
General Government
at 30 June 2019
Total Local
General Government
at 30 June 2019
All Australia
General Government
at 30 June 2019
All Australia
Non-financial Public Sector
at 30 June 2019
All Australia
Total Public Sector
at 30 June 2019
 %%%%%%
L123.52.90.425.933.024.0
L2(d)23.32.11.024.431.029.4
L324.95.30.829.437.035.6
L4(e)46.714.20.860.167.969.4
L5(f)46.014.10.859.367.169.1
L6(g)35.62.91.231.557.357.3
a. Based on GDP at current prices as published in Australian National Accounts: National Income, Expenditure and Product, December Quarter 2019 (Cat. no. 5206.0), Table 36 Expenditure on Gross Domestic Product (GDP), Chain Volume Measures and Current Prices: Annual.
b. A positive value in this matrix indicates that the relevant stock of liabilities is greater than its corresponding stock of financial assets (an indebted position). A negative value indicates the opposite.
c. National includes both the Commonwealth and Control not further defined (public universities) levels of government.
d. L2 is comparable to government reporting of net debt under Australian Accounting Standards.
e. L4 is comparable to the IMF GFSM 2014 concept of headline net public sector debt.
f. L5 is comparable to the Australian AGFS15 concept of headline net public sector debt.
g. L6 includes other liabilities and is not included in headline measures of net public sector debt.

Statement of total changes in net worth

The statement of total changes in net worth combines the key results of the operating statement and the statement of stocks and flows in one statement.

This statement provides a clear statistical explanation of the factors causing the change in the net worth of government. It explains the sources of changes in assets and liabilities from one reporting period to another in terms of transactions in revenue and expenses as well as other economic flows. For example, a strong contribution to the change in net worth from other economic flows will highlight the influence of revaluations to assets and liabilities, which do not reflect fiscal decisions of government.

The decrease in the net worth of the Commonwealth general government sector during 2018-19 was driven by an increase in liabilities ($147,623m) via other economic flows, primarily due to an upward revaluation of provisions for superannuation ($101,775m), partly offset by a positive net operating balance position ($4,174m)

The decrease in the net worth of the total state general government sector during 2018-19 was driven by an increase in liabilities via other economic flows ($24,288m), primarily due to an upward revaluation of provisions for superannuation ($25,488m) offset by an increase in non-financial assets ($17,241m) and a positive net operating balance position ($5,292m). The total local general government sector saw a positive net operating balance position ($10,350m) driving the change in net worth ($14,706m).

Table 1, Statement of total changes in net worth by level of government subsector

 Commonwealth
General Government
2018-19
Total State
General Government
2018-19
Total Local
General Government
2018-19
 $m$m$m
Transactions affecting net worth:   
 Revenue492 347283 08949 160
 less Expenses488 173277 79738 810
equals GFS Net Operating Balance4 1745 29210 350
Change in net worth due to other economic flows:   
 Non-financial assets1 22517 2414 017
 plus Financial assets17 153-7 194130
 less Liabilities147 62324 228-209
equals Total other economic flows-129 245-14 1814 356
Total change in net worth-125 071-8 88914 706

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.

Data downloads

Table 000. All levels of government by sector

Table 130. General government - Commonwealth

Table 231. General government - state - New South Wales

Table 232. General government - state - Victoria

Table 233. General government - state - Queensland

Table 234. General government - state - South Australia

Table 235. General government - state - Western Australia

Table 236. General government - state - Tasmania

Table 237. General government - state - Northern Territory

Table 238. General government - state - Australian Capital Territory

Table 239. General government - state - total state

Table 331. General government - local - New South Wales

Table 332. General government - local - Victoria

Table 333. General government - local - Queensland

Table 334. General government - local - South Australia

Table 335. General government - local - Western Australia

Table 336. General government - local - Tasmania

Table 337. General government - local - Northern Territory

Table 339. General government - local - total local

Table 439. General government - control n.f.d. - total

Table 939. General government - Australia - all levels of government

Table 110. Public non-financial corporations - Commonwealth

Table 211. Public non-financial corporations - New South Wales

Table 212. Public non-financial corporations - Victoria

Table 213. Public non-financial corporations - Queensland

Table 214. Public non-financial corporations - South Australia

Table 215. Public non-financial corporations - Western Australia

Table 216. Public non-financial corporations - Tasmania

Table 217. Public non-financial corporations - Northern Territory

Table 218. Public non-financial corporations - Australian Capital Territory

Table 219. Public non-financial corporations - total state

Table 319. Public non-financial corporations - total local

Table 919. Public non-financial corporations - Australia - all levels of government

Table 140. Non-financial public sector - Commonwealth

Table 241. Non-financial public sector - New South Wales

Table 242. Non-financial public sector - Victoria

Table 243. Non-financial public sector - Queensland

Table 244. Non-financial public sector - South Australia

Table 245. Non-financial public sector - Western Australia

Table 246. Non-financial public sector - Tasmania

Table 247. Non-financial public sector - Northern Territory

Table 248. Non-financial public sector - Australian Capital Territory

Table 249. Non-financial public sector - total state

Table 349. Non-financial public sector - total local

Table 449. Non-financial public sector - control n.f.d. - total

Table 949. Non-financial public sector - Australia - all levels of government

Table 120. Public financial corporations - Commonwealth

Table 221. Public financial corporations - New South Wales

Table 222. Public financial corporations - Victoria

Table 223. Public financial corporations - Queensland

Table 224. Public financial corporations - South Australia

Table 225. Public financial corporations - Western Australia

Table 226. Public financial corporations - Tasmania

Table 227. Public financial corporations - Northern Territory

Table 229. Public financial corporations - total state

Table 929. Public financial corporations - Australia - all levels of government

Table 190. Total public sector - Commonwealth

Table 291. Total public sector - New South Wales

Table 292. Total public sector - Victoria

Table 293. Total public sector - Queensland

Table 294. Total public sector - South Australia

Table 295. Total public sector - Western Australia

Table 296. Total public sector - Tasmania

Table 297. Total public sector - Northern Territory

Table 298. Total public sector - Australian Capital Territory

Table 299. Total public sector - total state

Table 399. Total public sector - total local

Table 499. Total public sector - control n.f.d. - total

Table 999. Total public sector - Australia - all levels of government

Table 531. General government - state and local - New South Wales

Table 532. General government - state and local - Victoria

Table 533. General government - state and local - Queensland

Table 534. General government - state and local - South Australia

Table 535. General government - state and local - Western Australia

Table 536. General government - state and local - Tasmania

Table 537. General government - state and local - Northern Territory

Table 539. General government - state and local - total state

Table 541. Non-financial public sector - state and local - New South Wales

Table 542. Non-financial public sector - state and local - Victoria

Table 543. Non-financial public sector - state and local - Queensland

Table 544. Non-financial public sector - state and local - South Australia

Table 545. Non-financial public sector - state and local - Western Australia

Table 546. Non-financial public sector - state and local - Tasmania

Table 547. Non-financial public sector - state and local - Northern Territory

Table 549. Non-financial public sector - state and local - total state

Table 591. Total public sector - state and local - New South Wales

Table 592. Total public sector - state and local - Victoria

Table 593. Total public sector - state and local - Queensland

Table 594. Total public sector - state and local - South Australia

Table 595. Total public sector - state and local - Western Australia

Table 596. Total public sector - state and local -Tasmania

Table 597. Total public sector - state and local - Northern Territory

Table 599. Total public sector - state and local - total state

All workbooks

Previous catalogue number

This release previously used catalogue number 5512.0.