Department of Infrastructure and Regional Development

Section 3: Budgeted financial statements

Section 3 presents budgeted financial statements which provide a comprehensive snapshot of the Department's finances for the 2017–18 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

Departmental
Budgeted departmental income statement

Total expenses are estimated at $290.8m in 2017–18, an increase of $22.2m from the 2016–17 estimated actual. The increase is primarily due to additional Departmental funding for the Delivery of Inland Rail and Stronger Communities measures, coupled with a re-allocation of funding for the Building Better Regions Fund and the current profile of previous Budget measures.

Budgeted departmental income statement

Budgeted departmental balance sheet

The Department's major non-financial assets are Buildings ($15.8m), Intangibles ($10.9m) and Property Plant and Equipment ($17.3m). The Department's primary liability continues to be accrued employee leave entitlements, estimated at $48.2m.

Administered
Budgeted administered income statement

The Department administers the collection of taxes, fees and fines, other non-taxation revenue and interest and dividends estimated at $412.7m in 2017–18, representing an increase of $38.1m from the 2016–17 estimated actual. The increase is primarily due to the current profile of interest for the Westconnex Stage 2 Concessional Loan ($28.3m) and an increase in dividends.

Administered expenses are budgeted at $3,892.3m in 2017–18, representing a decrease of $2,202.4m from the 2016–17 estimated actual and will be incurred for the administered items set out at Section 2. The primary reason for the decrease is the bring-forward of funding from 2017–18 into 2016–17 for the Financial Assistance Grant program.

Budgeted administered income statement

Schedule of budgeted assets and liabilities administered on behalf of government

Total assets are expected to increase in 2017–18 by $1,765.5m to $8,639.0m from the 2016–17 estimated actual result. The increase relates mainly to the loan associated with WestConnex Stage 2 ($640.7m) and an increase in investments ($1,137.7m).

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 2017–18)

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 year 2017–18)

Table 3.7: Schedule of budgeted income and expenses administered on behalf of Government (for the period ended 30 June)

Table 3.8: Schedule of budgeted assets and liabilities administered on behalf of Government (as at 30 June)

Table 3.9: Schedule of budgeted administered cash flows (for the period ended 30 June)

Table 3.10: Administered capital budget statement (for the period ended 30 June)

Table 3.11: Schedule of administered asset movements (Budget year 2017–18)

Appendix 3.1: Administered own-source revenue

Appendix 3.2: Administered loan repayments

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Budget 2017–18