Australian Maritime Safety Authority

Section 3: Budgeted financial statements

Section 3 presents budgeted financial statements which provide a comprehensive snapshot of the AMSA's finances for the 2019–20 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

AMSA is projecting an overall budget operating surplus of $12.8m for the budget and forward years, comprising surplus of $2.1m, $4.9m, $3.2m and $2.6m from 2019–20 through to 2022–23 respectively. The estimated actual for 2018–19 is an operating surplus of $0.8m with revenue of $229.0m and expenditure of $228.2m.

From 1 July 2018, AMSA assumed full responsibility for service delivery under the National System. The financial statements for the Budget and forward estimates include the National System funding.

AMSA revenue

AMSA's major revenue sources are:

  • levies collected from the shipping industry and appropriated under section 48 of the AMSA Act as special appropriations to fund AMSA's ship safety and environment protection functions. In 2019–20, levy revenue is estimated to total $125.8m, which is $1.9m higher than the 2018–19 estimated levy revenue of $123.9m.
    There are three types of levies
    • Marine Navigation (Regulatory Functions) Levy—funds AMSA's shipping regulatory functions;
    • Marine Navigation Levy—funds the national network of marine and aids to navigation; and
    • Protection of the Sea Levy—funds activities related to pollution and emergency response services.
  • Community Service Obligation funding from the Australian Government for search and rescue coordination services for persons in aviation or maritime distress in Australia's internationally designated search and rescue region. AMSA will receive an annual departmental appropriation of $60.5m in 2019–20 for providing search and rescue co-ordination services to the community ($59.4m in estimated actuals 2018–19) and $10.9m to cover the cost of search and rescue incidents ($9.9m estimated actuals in
    2018–19);
  • transitional funding from Australian Government to support the service delivery under National System  ($7.3m in 2018–19, $10.5m in 2019–20 and $13.2m in 2020–21);
  • transitional funding package from states and territories for the National System ($13.2m in 2018–19 and $10.5m in 2019–20); and
  • revenue from independent sources, comprised of fees and charges, related to specific service delivery.  ($15.3m in 2018–19 and $15.4m in 2019–20).

AMSA may make determinations in fixing charges under section 47 of the AMSA Act, which requires fees and charges to reasonably relate to the costs incurred by AMSA in their provision. AMSA has a range of services with charges based on the average cost of delivering a specific service or the time taken to deliver the service multiplied by a standard hourly rate. These services include:

  • approvals, certificates and determinations for ships, cargo and ship safety equipment;
  • activities related to issuing certificates of competency to seafarers, including conducting practical oral examinations for navigation and engineering officers; and
  • assessment of sea time pre-requisites for qualifications, issuing and renewing coastal pilot licences and services provided by the Australian Shipping Registration Office.

AMSA estimates total revenue of $233.6m in the 2019–20 budget period compared to $229.0.m in the 2018–19 estimated actuals, as summarised in the table following.

Revenue comparison
2018–19
Estimated
Actual
($m)
2019–20
Budget

($m)
AMSA revenue sources
Special appropriations of levies collected from the shipping industry 123.9 125.8
Annual departmental appropriation for search and rescue functions 59.4 60.5
Annual departmental appropriation for search and rescue response 9.9 10.9
Revenue from budget measures 7.3 10.5
Revenue from independent sources (fees and charges and interest) 28.5 25.9
Total Revenue 229.0 233.6
AMSA Expenses

Operating expenses of AMSA for the year 2019–20 is budgeted at $231.5m (2018–19 estimated actuals $228.2m) represented by employee expenses ($69.5m), supplier expenses ($146.2m) and depreciation ($15.8m).

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 2019–20)

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 2019–20)

Prev, Index Next

Budget 2019-20