Australian Maritime Safety Authority

Section 3: Explanatory tables and budgeted financial statements

3.1: Explanatory tables

Estimates of special account flows and balances

AMSA does not maintain special accounts.

3.2: Budgeted financial statements

3.2.1: Analysis of budgeted financial statements

The 2016–17 budgeted operating loss of $1.3 million has been reduced to $0.7 million. The reduction is due to Government increases to Outcome 1 funding for AMSA’s Community Service Obligation search and rescue response activities. The increased funding will eliminate the previous operating loss for this activity.

AMSA reached a settlement for costs incurred in responding to the pollution incident arising from the grounding of the Shen Neng 1 on the Douglas Shoal in the Great Barrier Reef Marine Park in 2010. While this revenue was anticipated in 2016–17, settlement was reached during the 2015–16 financial year and revenue for 2016–17 has been reduced accordingly by $8.1 million. AMSA has been able to absorb the revenue shortfall due to significant savings arising from the delay in the commencement of the Dedicated Airborne Search and Rescue Capability contract, reduced capability under the Level One Emergency Towage Vessel contract and KPI savings across other major service contracts.

AMSA’s budgeted financial statements over the forward estimates have been adjusted to take into account the effect of indexation adjustments and efficiency dividend. AMSA has absorbed the increase within those affected activities and has maintained budgeted financial statements over the forward estimates in accordance with the 2016–17 PB Statements.

There are further changes to AMSA’s budgeted financial statements to reflect updated opening balance actuals.

3.2.2: Budgeted financial statements tables

Table 3.2: Comprehensive income statement (showing net cost of services) (for the period ended 30 June)

Table 3.3: Budgeted departmental balance sheet (as at 30 June)

Table 3.4: Departmental statement of changes in equity—summary of movement (Budget year 2016–17)

Table 3.5: Budgeted departmental statement of cash flows (for the period ended 30 June)

Table 3.6: Departmental capital budget statement (for the period ended 30 June)

 Table 3.7: Statement of asset movements (Budget year 2016–17)

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