Statement of Receipts and Payments of the Consolidated Fund and ...

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Recurrent Receipts — •State Taxation • Commonwealth Grants • Other Recurrent State Sources •Current Account Advances — Cash Management Account Capital Works Authority Total Recurrent Receipts Works and Services Receipts — • Commonwealth Grants • Sale of Assets • Sale and Lease Back of Assets and other Operating Leases •Sale of assets for repayment of Cash Management Account borrowings • Other State Sources •Borrowings — State Development Account Global Limit Borrowings Victorian Government Securities • Works and Services Account balance brought forward — transfer Total Works and Services Receipts State Bank/Commonwealth Bank Merger TABLE A.l SUMMARY OF CONSOLIDATED FUND TRANSACTIONS 1990-91 1991-92 1991-92 Variance from Budget Actual Actual Budget Actual Percentage $m $ni $ni $m % 5 7-^2.8 4 018.5 2 081.0 204.5 11 446.8 764.2 92.2 700.5 31.1 17.2 150.0 1 024.1 86.1 2 265.4 2 017.5 5 449.5 4 229.0 2 169.4 94.6 1 267.2 13 209.7 748.9 92.1 0.2 49.7 100.0 981.2 194.9 5 645.4 4 153.3 2 220.5 786.1 12 805.3 724.1 341.1 58.9 12.5 100.0 937.9 195.0 12.6 12.7 2 179.6 2 382.1 TOTAL RECEIPTS 15 729.7 15 389.3 15 187.5 Recurrent Expenditure — •Annual Appropriations (a) •Special Appropriations (b) • Repayment Prior Year Advances — CMA Works and Services Expenditure — •Annual Appropriations • Special Appropriations State Bank/Commonwealth Bank Merger TOTAL PAYMENTS 9 648.1 2 015.7 10 966.5 1762.1 481.1 10 965.0 1 840.3 77 663.8 13 209.7 12 805.3 1964.2 47.9 2 012.1 2 053.8 15 729.7 1 976.2 203.4 2 179.6 15 389.3 2 128.1 254.0 2 382.1 15 187.5 -195.9 75.7 -51.1 -691.5 1 267.2 404.4 24.8 -249.0 -58.7 37.2 43.3 -0.1 -0.1 -202.5 201.8 1.5 -78.2 481.1 404.4 -151.9 -50.6 -202.5 Notes: (a) In accordance with normal practice. Budget estimates for Recurrent annual appropriations do not include allowances for payments in respect of wage awards which may be handed down during the year. Awards under Section 4(2) totalled $135.0 million in 1991-92 and are included in the Recurrent appropriations of the respective Ministries as detailed in Appendix 2 on pages 26-136. The total for Recurrent Annual Appropriations including Section 4(2) appropriations for 1991-92 is $11 100.0 million. (b) Certain expenditures met during the 1991-92 financial year as Special Appropriations include payments pursuant to Section 4(3) of the Public Account Act 1958. In the above table they appear as Special Appropriations. These expenditures totalled: Recurrent, $15.8 million and Works and Services, $8.3 million. In line with normal practice, these payments will be included in the relevant Armual Appropriations of the Budget. 201.8 -3.5 1.8 -2.3 -88.0 na 3.2 3.4 -73.0 na -99.7 297.6 4.6 -0.1 -0.8 -8.5 na 1.3 -4.2 na 3.2 -7.1 -19.9 -8.5 na 1.3
TABLE A,2 BALANCING THE CONSOLIDATED FUND, 1991-92 Recurrent Receipts excluding Current Account Advances Works and Services Receipts excluding Borrowings Total Receipts Total Payments Shortfall of Receipts Funded by — Global Borrowings Borrowing in respect of temporary funding arrangements - Maturing Bonds, Act No. 90 of 1990, Sec. 20(6) State Development Account Cash Management Account Capital Works Authority i^w-Repayment of Prior Year Cash Management Account Advances 3.1 RECURRENT RECEIPTS $m 11 847.9 890.9 12 738.8 14 908.2 2 169.4 993.8 194.9 100.0 94.6 1 267.2 2 650.5 481.1 2 169.4 In the 1991-92 Budget, total Recurrent receipts were esdmated to be $12 019.2 million. Actual receipts during the year were $11 847.9 million, $171.3 million below the Budget estimate before taking account of advances of $1 361.8 million from Current Account Advances. The most significant cause of variation across the broad range of Recurrent receipts was due to a combination of economic activity being lower than forecast, which adversely affected receipts, and wage and price inflation being lower than forecast, which adversely affected both receipts and the value of those Commonwealth grants which are indexed to the Consumer Price Index. Table A.3 shows the difference between the (preliminary) actual outcome and the forecasts at the time of the Budget of economic activity on which most of the forecast receipts were based. TABLE A.3 ECONOMIC FORECASTS AND OUTCOMES FOR VICTORIA 1991-92 (percentage change over 1990-91) Budget Preliminary Forecast Actual Gross Domestic Product Domestic Demand Consumer Price Index Average Weekly Earnings Employment Unemployment Rate XV 0.0 -1.9 4.0 4.0 -3.7 11.0 -1.5 -0.4 2.2 3.6 -3.4 11.0
Page 1 and 2: •^ .,^^^ ^ Victoria Finance State
Page 3 and 4: The Honourable the Speaker Legislat
Page 5 and 6: VICTORIA HNANCE STATEMENT 1991-92 P
Page 7 and 8: 1. INTRODUCTION EXPLANATORY NOTES T
Page 9: meet urgent claims may also be prov
Page 13 and 14: Pay-roll Tax Receipts from Pay-roll
Page 15 and 16: Offsetting these shortfalls were ad
Page 17 and 18: An amount of $24.2 million, reflecf
Page 19 and 20: Other significant payments related
Page 21 and 22: VICTORIA nNANCE STATEMENT 1991-92 S
Page 23 and 24: FINANCE STATEMENT 1991-92 SUMMARY O
Page 25 and 26: TEMENT 1991-92 IDATED FUND THE YEAR
Page 27 and 28: VICTORIA HNANCE STATEMENT 1991-92 A
Page 29 and 30: 1990-91 Actual $ 17 449 641 440 043
Page 31 and 32: 1990-91 Actual $ 87 840 142 87 840
Page 33 and 34: 1990-91 Actual $ 758 331 212 2 700
Page 35 and 36: VICTORIA nNANCE STATEMENT 1991-92 A
Page 37 and 38: 1990-91 Aaual nNANCE STATEMENT 1991
Page 39 and 40: nNANCE STATEMENT 1991-92 PAYMENTS F
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nNANCE STATEMENT 1991-92 PAYMENTS F
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nNANCE STATEMENT 1991-92 STATEMENT
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ETHNIC, MUNICIPAL AND COMMUNITY AFF
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ATTORNEY-GENERAL CONSERVATION AND E
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151 VICTORIA nNANCE STATEMENT 1991-
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nNANCE STATEMENT 1991-92 THE TRUST
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Brought Forward Manufacturing and I
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8. WORKS AND SERVICES ACCOUNT nNANC
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Department and Programs PARLIAMENT:
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Department and Programs FINANCE: 35
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Department and Programs POLICE AND
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Financial commitments represent var
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Government of Victoria Capital Work
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4. EXPLANATORY NOTES ON SPECIFIC MA
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Financial Year Ending 30 June 1991
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5. LEASING COMMITMENTS The followin
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(b) Operating Leases for Transport
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7. CONTINGENT LIABILITIES IN RESPEC
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Table B.6 provides details of conti
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TABLE B.7 (Cont.) CONTINGENT LIABIL
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The scheme was originally establish
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The Bonds are secured by a second g
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(c) World Congress Centre The World
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10. EQUITY CAPITAL OF THE STATE Tab
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12. SUMMARY OF CREDITORS A Summary
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14. COMMONWEALTH FUNDS UNSPENT Comm
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209 VICTORIA FINANCE STATEMENT 1991
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Contract Auditing Coode Island Revi
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Metropolitan Fire Brigades Superann
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Tobacco Franchise Licences 11 Total
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