National Capital Authority

Section 3: Budgeted financial statements

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

Departmental comprehensive income statement

The NCA is budgeting for an operating surplus of $50,000 in 2018–19, adjusted for depreciation and amortisation expenses. The surplus includes a $65,000 gain from the sale of an asset, partially offset by a loss of $15,000  which arises from an accounting treatment in the 2015–16 audited accounts relating to settlement funds of $1.2m, where most related expenditure occurred in 2017–18, and $15,000 expenditure will occur in 2018–19.

The NCA is budgeting for a break-even operating result in 2019–20 and the forward years. Total revenue from Government in 2019–20 remains relatively consistent compared to 2018–19, although there has been an on-going re-classification of expenses associated with the maintenance of National Land from Departmental expenses to Administered expenses ($8.0m in 2019–20).  This movement of funds decision results in a Departmental appropriation of $9.6m in 2019–20, compared to $17.2m in 2018–19. Revenue from other sources principally reflects the recovery of costs for the provision of services and rental income.

Budgeted departmental balance sheet

The increase in the NCA's departmental budgeted net asset position in 2019–20 is due to additional capital funding received through the Public Service Modernisation Agency Sustainability Fund for business and ICT transformation and improvements to NCA managed buildings.

Schedule of budgeted income and expenses administered on behalf of Government

In 2019–20, the NCA will receive appropriation of $18.1m for supplier expenses including operating expenses associated with the administration of the pay parking program and the insurance premium for risks associated with assets on National Land. The $18.1m appropriation also includes $3.7m for the 2018–19 Budget measure National Capital Authority—additional funding and $3.1m for the 2018–19 MYEFO measure National Capital Authority—capital renewal. It also includes $8.0m re-classified from Departmental expenses, as discussed above.

Revenue from administered activities primarily includes pay parking revenue, lease revenue on diplomatic land and user charges, which are returned in full to the Budget.

Schedule of budgeted assets and liabilities administered on behalf of the Government

In 2019–20, the NCA will receive appropriation of $17.9m for activities it administers on behalf of the Government. This appropriation is directly linked to the administered capital budget and will be used to replace and upgrade existing administered assets.

The reduction in NCA's administered net asset position in 2019–20 and forward years is largely due to higher accumulated depreciation expenses on capital assets compared to capital funding received to replace and upgrade those assets.

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)

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 2019–20)

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Budget 2019-20