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 2018–19 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 2018–19 and the forward years.

Revenue

Net appropriation revenue of $20.2m will be provided to the ATSB in 2018–19.

The comprehensive income statement also includes estimates of the ATSB's own source revenue of $3.9m which includes:

  • estimates of cost recoveries from Queensland, Western Australia, South Australia and Tasmania for safety investigations we undertake on their intrastate rail networks ($0.8m)
  • 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 ($0.4m) and cooperation with Papua New Guinea ($0.5m)
  • estimates of cost recoveries for training that the ATSB provides to industry
  • 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 2017–18 is $24.7m, comprised of employee expenses (66%), supplier expenses (32%) and depreciation (2%).

Depreciation and amortisation expenses are expected to decline over the forward estimates period, as the ATSB's available capital funds decline over the forward estimates period, 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 2019 reflects the expected balances for its assets and liabilities as well as retained earnings and contributed equity, based on the projected operating result for 2017–18 and the Budget year.

The ATSB's major non-financial assets are property plant and equipment ($2.0m) and intangibles ($0.6m). The ATSB's primary liability continues to be accrued employee leave entitlements at $4.9m.

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 2018–19)

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 2018–19)

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Budget 2018-19