Financial Statements

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Agency Statement of Financial Performance

for the period ended 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
Revenues from ordinary activities
190 482 Revenues from government 4A, 15 190 697 187 205
10 773 Sales of goods and services 4B 7 244 7 963
0 Interest 3 485 2 068
Proceeds from disposals of assets 4C 3 636 2 944
Other 4D 6 218 1 772
201 255 Total revenues from ordinary activities 211 280 201 952
Expenses from ordinary activities
67 269 Employees 5A 68 775 64 856
93 677 Suppliers 5B 86 221 81 712
14 681 Depreciation and amortisation 5C 11 953 12 644
1,120 Net write down of assets 5D 16 299 3 707
Disposals of assets 4C 2 463 6 308
Other 5E 10 733 8 192
176 747 Total expenses from ordinary activities 196 444 177 419
Borrowing costs expense 6 154 30
24 508 Net Operating surplus (deficit) from ordinary activities 14 682 24 503
24 508 Net surplus (deficit) 14 682 24 503
Equity Interests
24 508 Net surplus/(deficit) attributable to the Commonwealth 13,14 14 682 24 503
- Transitional adjustments affected 1 July 7 - ( 8 300)
Net credit (debit) to assest revaluation reserve 2 328 (7 412)
Total revenues, expenses and valuation adjustments recognised directly in equity 2 328 (15 712)
24 508 Total changes in equity other than those resulting from transactions with owners as owners 17 010 8 791

The above statement should be read in conjunction with the accompanying notes.

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Agency Statement of Financial Position

as at 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
Assets
Financial assets
1 232 Cash 3 781 5 232
2 261 Receivables 8A 3 866 1 549
18 376 Investments 8B 33 000 31,500
766 Accrued Revenue 2 980 766

22 635

Total financial assets

43 627

39 047

Non-financial assets
96 970 Land and buildings 9A,D 100 590 94 968
123 485 Infrastructure, plant and equipment 9B,D 99 701 106 504
3 416 Intangibles 9C,D 4 109 3 418
2 450 Inventories 9E 2 063 2 450
5 131 Other 9F 2 414 6 331

231 452

Total non-financial assets

208 877

213 671

254 087

Total assets

252 504

252 718

Liabilities
Interest Bearing Liabilities
1,580 Other 10 2 580 433

1,580

Total debt

2 580

433

Provisions
Capital use charge - 621
24 641 Employees 11 22 787 23 612

24 641

Total provisions

22 787

25 099

Payables
6 240 Suppliers 12A 11 746 7 478
738 Other 12B 896 1 416

6 978

Total payables

12 642

8 894

33 199

Total liabilities

38 009

34 426

Equity
176 704 Accumulated results 13 167 983 179 803
34 225 Capital 13 34 225 29 396
9 959 Reserves 13 12 287 9 959

220 888

Total equity 13

214 495

219 158

254 087

Total liabilities and equity

252 504

253 584

Agency liabilities and assets can be classified as follows:
Current liabilities 35 683 33 870
Non-current liabilities 2 326 556
Total Liabilities

38 009

34 426

30 216 Current assets 48 104 47 828
223 871 Non-current assets 204 400 204 890

254,087

Total Assets

252 504

252 718

The above statement should be read in conjunction with the accompanying notes.

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Statement Of Cashflows

for the period ended 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
OPERATING ACTIVITIES
Cash received
190,482 Appropriations for outputs 190 482 185 510
10 761 Sales of goods and services 6 578 8 032
Interest received 3 880 1,653
4,377 Other 6 530 1,772

205 620

Total cash received

207 470

196 967

Cash used
66,240 Employees 69 602 62 355
94 054 Suppliers 77 343 74 850
5 389 Other 13 417 6,742
GST 1 207 -

165 683

Total cash used

161 569

143 947

39 937

Net cash from/(used by) operating activities 14

45 901

53 020

INVESTING ACTIVITIES
Cash received
Proceeds from sales of property, plant and equipment 1 660 2 768
13,124 Other - -

13,124

Total cash received

1 660

2 768

Cash used
33,662 Purchase of property, plant and equipment 24 427 22 666
Purchase of investments - -

33 662

Total cash used

24 427

22 666

( 20 538)

Net cash from/(used by) investing activities

( 22 767)

(19 898)

FINANCING ACTIVITIES
Cash received
4 829 Capital injection appropriation 4 829 29 396

4 829

Total cash received

4 829

29 396

Cash used
28 228 Capital use dividend paid 27 914 26 464
Repayment of debt - -

28 228

Total cash used

27 914

26 464

( 23 399)

Net cash from/(used by) financing activities

( 23 085)

2 932

( 4 000)

Net increase/(decrease) in cash held 49 36 054
5 232 Cash at the beginning of reporting period 36 732 770
Transitional adjustments - ( 92)

1 232

Cash at the end of reporting period

36 781

36 732

Consisting of:

Cash at Call

3 781 5 232

Term Deposits

33 000 31 500

36 732

36 781

The above statement should be read in conjunction with the accompanying notes.

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Schedule of Agency Commitments

as at 30 June 2001

2000–2001 1999–2000
$'000 $'000
BY TYPE
CAPITAL COMMITMENTS
Land and buildings - 4 669
Infrastructure, plant and equipment - 369
Other capital commitments1 376 -
Total capital commitments

376

5 038

OTHER COMMITMENTS
Operating leases2 60 858 48 548
Project commitments3 798 16
Other commitments4 43 215 46 372
Total other commitments

104 871

94 936

COMMITMENTS RECEIVABLE5 8 429 313

96 818

99 661

BY MATURITY
All net commitments
One year or less 32 184 40 457
From one to two years 14 873 13 589
From two to five years 24 762 32 399
Over five years 24 999 13 216
Net commitments

96 818

99 661

Operating Lease Commitments
One year or less 8 259 7 882
From one to two years 6 678 7 331
From two to five years 18 473 20 119
Over five years 27 448 13 216
Net commitments

60 858

48 548

Notes

1 Other capital commitments were in respect of the upgrading of the Department's existing financial management information system.
2 Operating leases are effectively non-cancellable and comprise leases for office accomodation, agreements for the provision of motor vehicles to senior executive officers and leases of computer equipment.
3 Project commitments include costs related to IT system developments.
4 Other commitments relates to the provision of goods and services to the Department.
5 Commitments receivables include GST recoveries in relation to the commitments payable.

Nature of lease General description of leasing arrangement
Leases for office accommodation
  • The Department has entered into 18 operating leases for office accommodation purposes.
  • Most Departmental leases contain a clause permitting market indexation, subject to agreement by both parties. In general the rent reviews take place at least once every two years.
Agreement for the provision of motor vehicles to senior executive officers
  • DAS Fleet is the provider of vehicles for senior executive officers of the Department. The existing contract spans from 1 September 1997 to 30 August 2002.
  • Leases are for a minimum period of three months and may be extended for up to three months from the originally specified expiry date.
  • There are no existing contingent rental agreements between the Department and DASFleet.
  • There are no renewal or purchase options available on the Agreement.
Lease of Computer Equipment
  • The Department has entered into an operating lease with Advantra Pty Ltd for the supply of computer equipment, software and other communication support services.
  • The intial contract is for a period of five years plus a further two years at the Group's discretion on the same terms and conditions then in effect.
  • The Department may vary it's operating requirements; smaller items on a daily basis, larger items require up to three months notification.

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Schedule of Unquantifiable Agency Commitment

as at 30 June 2001

The following departmental commitment is not disclosed in monetary terms as the contracted cost is expected to vary each year and can only be determined at that point of time.

# The operating lease with Advantra Pty Ltd for IT and other Communication support services is dependent on a number of variables. An estimated fee of $18m is calculated for the remaining period of the contract which will expire on the 14 April 2004.

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Schedule of Agency Contingencies

as at 30 June 2001

Agency
2001–2000 1999–2000
$'000 $'000
CONTINGENT LOSSES
Claims for damages/costs1 1 630 6 160
Other - 361
Total Contingent Losses 1 630 6 521
CONTINGENT GAINS
Claims for damages/costs - 481
Net Contingencies 1 630 6 040

Details

1 This amount represents an estimate of the Department's liability based on precedent cases. The Department is defending the claims.

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Schedule of Administered Revenues and Expenses

for the period ended 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
Revenues from ordinary activities
Taxation
156 376 Levies, fees and fines 22 169 915 147 767

156 376

Total taxation

169 915

147 767

Non-taxation
2 581 294 Revenue from government 23A 2 657 593 2 578 916
12 680 Interest 23C 12 676 13 081
33 089 Dividends 23D 45 850 15 221
Sales of goods and services 23B 7 238 7 373
29 088 Other 23E 5 437 7 464

2 656 151

Total non-taxation

728 794

2 622 055

2 812 527

Total revenues from ordinary activities

898 709

2 769 822

Expenses from ordinary activities
84 099 Subsidies 25A 85 365 147 134
2 608 153 Grants 25B 2 398 074 2 290 455
685 Depreciation and amortisation 24A 723 632
Net write down of assets 24B 542 860 390
Net losses from sale of assets 24C -
80 601 Suppliers 25C 41 959 68 706
8 352 Other 25D 17 737 12,202

2 781 890

Total expenses from ordinary activities

3 086 718

2 519 570

(281 035) Transfers to Official Public Account 32 (283 316) (204 932)
- Net credit (debit) to asset revaluation reserve 30 (1 999) -

(250 398)

Net increase/(decrease) in administered net assets other than those resulting from transactions with owners as owners

(473 324)

45 320

The above statement should be read in conjunction with the accompanying notes.

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Schedule of Administered Assets and Liabilities

for the period ended 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
Assets
Financial assets 37
403 Cash 529 24 458
434 039 Receivables 26A 348 808 641 154
1 257 255 Investments 26B 930 624 1 301 155
7 384 Accrued revenues 26C 16 716 7 384

1 699 081

Total financial assets 26D

1 296 677

1 974 151

Non-financial assets
71 127 Land and Buildings 27A,E 69 794 68 624
Infrastructure, plant and equipment 27B,E 1
6,623 Intangibles 27C,E 4 958 7 011
58 730 Other 27D 266 505 90 737

136 483

Total non-financial assets

341 258

166 376

1 835 564

Total assets

1 637 935

2 140 527

Liabilities
Payables
128 549 Subsidies 28B 129 966 158 146
0 Grants 28A 8 692 21 653
0 Other 18 358 6 844

128 549

Total payables

157 016

186 643

128 549

Total liabilities

157 016

186 643

Equity
14 098 Capital 30 10 928

10 569

425 855

Accumulated results 30 545 459

676 253

1 267 062

Reserves 30 924 532

1 267 062

1 707 015

Total equity 30

1 480 919

1 953 884

1835 564

Total liabilities and equity

1 637 935

2 140 527

Liabilities and assets can be classified as follows:
Current liabilities 57 050

51 448

Non-current liabilities 99 966

135 195

Total Liabilities

157 016

186 643

Current assets 204 863

190 814

Non-current assets 1 433 072

1 949 713

Total Assets

1 637 935

2 140 527

(473 324)

45 320

The above statement should be read in conjunction with the accompanying notes.

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Administered Cash Flows

for the period ended 30 June 2001

Budget
2000–2001
$'000
Notes Actual
2000–2001
$'000
Actual
1999–2000
$'000
OPERATING ACTIVITIES
Cash received
TAXATION
156 376 Levies, fees and fines 112 956 94 472
156 376 Total taxation 112 956 94 472
NON-TAXATION
- Sales of goods and services 7 792 7 780
45 769 Interest 13 131 12 726
- Dividends 45 850 15 221
2 783 400 Cash from Official Public Account 2 727 597 2 472 021
46 571 Other 4 285 24 780
2 875 740 Total non-taxation 798 655 2 532 528
3 032 116 Total cash received 2 911 611 2 627 000
Cash used
113 696 Subsidies 113 545 103 608
2 597 799 Grants 2 585 694 2 276 737
- Suppliers 33 284
236 765 Cash to Official Public Account 184 623 154 292
20 129 Goods and Services Tax paid 1 497 -
95 797 Other 17 737 81 715
3 064 186 Total cash used 936 380 2 616 352
(32 070) Net cash from/(used by) operating activities 31 (24 769) 10 648
INVESTING ACTIVITIES
Cash received
43 900 Equity repayments 40 552 1 950
5 903 Repayment of loans 5 936 4 935
2 200 Proceeds from sales of land, PP&E and intangibles - -
52 003 Total cash received 46 488 6 885
Cash used
2 799 Purchase of property, plant and equipment 685 -
730 Advances made 59 3 461
44,270 Cash to Official Public Account 46,358 -
47 799 Total cash used 47 402 3 461
4 204 Net cash from/(used by) investing activities ( 914) 3 424
FINANCING ACTIVITIES
Cash received
3 811 Cash from Official Public Account 59 10 274
- GST Appropriations 8 503 -
3 811 Total cash received 8 862 10 274
Cash used
- Return of GST Appropriations to OPA 7 043 -
- Total cash used 7 043 -
3 811 Net cash from/(used by) financing activities 1 819 10 274
( 24 055) Net increase/(decrease) in cash held (23 864) 24 346
24,458 Cash at the beginning of reporting period 24 458 36
Write off 65) -
Transitional adjustment - ( 524)
403 Cash at the end of reporting period 529 24 458

The above statement should be read in conjunction with the accompanying notes.

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Schedule of Commitments

as at 30 June 2001

Administered
2000–2001 1999–2000
$'000 $'000
BY TYPE
CAPITAL COMMITMENTS
Land and buildings - 3,729
Infrastructure, plant and equipment - -
Other capital commitments - -
Total capital commitments - 3 729
OTHER COMMITMENTS
Operating leases - -
Project commitments1 3 556 900 2 865 207
Other commitments2 165 32 975
Total other commitments 3 557 065 2 898 182
COMMITMENTS RECEIVABLE 2,462 -
Net commitments 3 554 603 2 901 911
BY MATURITY
All net commitments
One year or less 1 138 830 724 524
From one to two years 756 594 776 832
From two to five years 1 652 929 1 400 555
Over five years 6,250 -
Net commitments 3 554 603 2 901 911

Details

1 Project commitments are comprised of grants to/through State, Territory and/or Local Governments under the National Highway and Roads of National Importance programs.

2 Other commitments relate to the provision of goods and services.

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Schedule of Contingencies

as at 30 June 2001

Administered
2000–2001 1999–2000
$'000 $'000
BY TYPE
CONTINGENT LOSSES
Claims for damages/costs 1 2 799 1 729
Total Contingent Losses 2 799 1 729
CONTINGENT GAINS
Claims for damages/costs - -
Net Contingencies 2799 1729

Remote contingencies are disclosed in Note 33

Details

1 This amount includes compensation claims relating to a number of properties acquired under the Land Acquisitions Act 1989 for the proposed second Sydney Airport at Badgerys Creek.

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Schedule of Unquantifiable Contingencies

as at 30 June 2001

Administered

Australian Capital Territory (ACT) funding agreements

As at 30 June 2001 the Commonwealth is party to ongoing funding agreements with the Australian Capital Territory (assistance for water and sewerage, and compensation for national capital influences). The future liabilities of these agreements cannot be reliably measured.

Federal Airports Corporation (FAC) transfer of liabilities to the Commonwealth

On 24 September 1998 the Commonwealth assumed responsibility for all remaining assets, liabilities and contracts of the Federal Airports Corporation on the wind-up of the Corporation. All of the known liabilities have been settled, however there is a risk that undisclosed liabilities remain.

The Commonwealth assumed responsibility on 1 July 1998 for a contingent liability of the Corporation which relates to debtors of the Federal Airports Corporation who are challenging the validity of network charges made under the Federal Airports Corporation Act 1986. If the network charging approach is found to be invalid, this raises the prospect of further claims from other airport users who have previously paid network-based charges to the Corporation. There is no basis for quantifying potential claims.

Stevedoring Industry Finance Committee (SIFC)

The Stevedoring Industry Finance Committee (SIFC) faces an uncertain number of claims for asbestos related damage. These claims were inherited from the Australian Stevedoring Industry Authority. Costs that may arise from these claims can not be determined. The number of claims likely to be made in the future is also unknown.

Australian National Railways Commission (AN)—transfer of liabilities

As a result of the wind-up of the Australian National Railways Commission, all associated contracts, assets and liabilities become the responsibility of the Commonwealth. At this stage, it is not possible to quantify liabilities as they involve uncertain legal processes and ex-employee claims (including asbestos-related claims).

Australian Maritime Safety Authority (AMSA)—incident costs

The above schedule should be read in conjunction with the accompanying notes.

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