Department of Infrastructure, Regional Development and Cities

Section 3: Budgeted financial statements

Section 3 presents budgeted financial statements which provide a comprehensive snapshot of the department'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

Departmental
Budgeted departmental income statement

Total expenses are estimated at $217.8m in 2018–19. The reduction in expenses over the forward estimates is primarily due to the profile of non-ongoing measures and expenses for the Business Grants Hub to administer various grant programs.

Chart 3.1 Budgeted departmental income statement

Budgeted departmental balance sheet

The department's major non-financial assets are Land and buildings ($17.1m), Intangibles ($12.2m) and Property, plant and equipment ($10.9m). The department's primary liability continues to be accrued employee leave entitlements, estimated at $37.9m.

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 $497.0m in 2018–19, representing an decrease of $103.2m from the 2017–18 estimated actual. The primary drivers of the decrease are changes to revenue as a result of the closure of the Federal Interstate Registration Scheme ($82.0m), the current profile of revenue from WSA Co ($46.5m), and the anticipated finalisation of the Melbourne Airport runway project in 2017-18 ($9.8m), offset by an increase in estimated interest for the WestConnex Stage 2 Concessional Loan ($24.5m) and dividends received from Airservices Australia ($10.0m).

Administered expenses are budgeted at $3,871.1m in 2018–19, representing a decrease of $1,363.8m from the 2017–18 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 2018–19 into 2017–18 for the Financial Assistance Grant program of $1.2 billion.

Chart 3.2 Budgeted administered income statement

Schedule of budgeted assets and liabilities administered on behalf of government

Total assets are expected to increase in 2018–19 by $1,935.9m to $10,411.0m from the 2017–18 estimated actual result. The increase relates mainly to an increase in investments ($1,110.3m) and the profile of various loans ($820.5m).

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) from prior year Departmental Capital Budgets (DCBs).

Table 3.6: Statement of asset movements (Budget year 2018–19)

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 2018–19)

Appendix 3.1: Administered own-source revenue

Appendix 3.2: Administered loan repayments

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Budget 2018–19