Australian Transport Safety Bureau

Section 3: Budgeted financial statements

Section 3 presents budgeted financial statements which provide a comprehensive snapshot of ATSB's finances for the 2016–17 Budget year, including the impact of Budget measures and resourcing on financial statements.

3.1: Budgeted financial statements

3.1.1: Explanatory notes and analysis of budgeted financial statements

Budgeted departmental comprehensive income statement

The ATSB is planning for a break-even operating result, adjusted for depreciation and amortisation expense, in 2016–17 and the forward years.

Revenue

Net appropriation revenue of $18.2m will be provided to the ATSB in 2016–17.

The comprehensive income statement also includes estimates of the ATSB's own source revenue of $3.1m which includes:

  • estimates of cost recoveries from Western Australia, South Australia and Tasmania for safety investigations we undertake on their intrastate rail networks ($0.7m);
  • revenue from the Department of Foreign Affairs and Trade for the ATSB's participation in Australian Government transport safety initiatives including capability building activities as part of the Indonesia Transport Safety Assistance Package ($0.2m);
  • estimates of cost recoveries for training that the ATSB provides to industry; and
  • estimates of the value of the services the ATSB will receive free of charge from the Victorian Chief Investigator, Transport Safety, the NSW Office of Transport Safety Investigations and the Australian National Audit Office ($2.1m).
Expenses
  • Budgeted operating expenditure in 2016–17 is $22.4m, comprised of employee expenses (64%), supplier expenses (31%) and depreciation (5%).
  • Depreciation and amortisation expenses are expected to decline over the forward estimates period, as the Departmental Capital Budget has decreased over time, reducing the amount of capital purchased and therefore the associated depreciation and amortisation expense will decrease.
Budgeted departmental balance sheet

The ATSB's budgeted balance sheet at 30 June 2017 reflects the expected balances for its assets and liabilities as well as retained earnings and contributed equity, based on the projected operating result for 2015–16 and the Budget year.

Financial Assets

The ATSB's largest financial asset is $17.1m in prior year appropriations.

Non-Financial Assets

These comprise of plant, equipment and intangible software assets utilised by the ATSB, the largest component of which is the entity's investment in its Safety Investigation Information Management System. This is shown in the line Intangibles.

Provisions and Payables

The ATSB's primary liability is accrued employee leave entitlements, shown in the line Employee provisions.

3.2: Budgeted financial statements tables

Table 3.1: Comprehensive income statement (showing net cost of services) (for the period ended 30 June)

Table 3.2: Budgeted departmental balance sheet (as at 30 June)

Table 3.3: Departmental statement of changes in equity—summary of movement (Budget year 2016–17)

Table 3.4: Budgeted departmental statement of cash flows (for the period ended 30 June)

Table 3.5: Departmental capital budget statement (for the period ended 30 June)

Table 3.6: Statement of asset movements (Budget 2016–17)

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Budget 2016–17