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

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Franchise Fees Tobacco franchise fees at $241.6 million were $6.6 million higher than Budget. Receipts from both petroleum and liquor franchise fees were lower than Budget as sales were less than anticipated. 3.1.2 Other State Sources of Recurrent Receipts In aggregate. State sources of Recurrent receipts, other than taxation and net advances to the current account, were $2 169.4 million, $51.1 million below the budget estimate. Major variations from individual Budget estimates are set out below. Recoveries of Debt Charges Recoveries of Debt Charges exceeded the Budget estimate by $6.2 million, the main impact of this being in the recall of advances from the Rural Finance Corporation and the repayment of State Development Program loans by the Alpine Resorts Commission. Land Revenue Receipts from Land Revenue in 1991-92 were $160.8 million, $11.2 million higher than the Budget forecast. The principal item which contributed to the overrun was petroleum royalties which were boosted by higher international crude oil prices than budgeted by the Commonwealth. Receipts from Fees and Charges for Departmental Services Total receipts from departmental fees and charges in 1991-92 were $350.5 million, $50.0 million less than the Budget forecast. Major shortfalls in fees and charges were recorded in the following areas: • $32.1 million in fees from the Corporate Affairs Office due to a reclassificadon of the amount received by way of compensation from the Commonwealth from fees and charges to Commonwealth payments; • $10.1 million from Printing and Publishing fees consequent to a post-budget change in the structure and the operating environment of Printing and Publishing Services Victoria. The fall in revenue is matched by a decrease in the amount made available to Printing and Publishing Services as appropriated under Program 360 'Transfer and Other Payments'; and • $20.0 million from the rationalisation of VicFleet. Arrangements were not able to be put in place in 1991-92 for this initiative to proceed. XVIII
Offsetting these shortfalls were additional receipts of: • $6.5 million in court fees due to changed arrangements during the year for the payment of fees direct to the courts rather than through the purchase of duty stamps; and • $7.1 million recoup of administration expenses from Education mainly because of a one-off recoup of WorkCare claims of prior years. Public Authorities Receipts from Public AuthoriUes amounted to $739.2 million, which was $18.4 million above the Budget estimate. This largely reflected the payment of a $9.0 million dividend by the Rural Finance Corporation and a $10.3 million dividend by the Portland Smelter Unit Trust, neither of which were included in the Budget estimates. Furthermore, the dividend paid to the Consolidated Fund from the State Insurance Office was increased by $5.0 million above the budgeted $35.0 million. The combined increase was offset by a shortfall of $7.1 million in receipts from the Gas and Fuel Corporation of Victoria which is attributable to both lower than expected gas sales and profit of the Corporation. Miscellaneous Receipts Total receipts under the heading of "Miscellaneous Receipts" in table A.4 were $325.2 million in 1991-92, $12.3 million below the Budget estimate, due mainly to shortfalls in interest on the Public Account of $3.6 million, court fines of $3.1 million. Capital Works Authority interest swaps of $4.9 million and Rents and Hirings of $1.8 million. These shortfalls were offset by a recovery of bad debts from Tricontinental of $4.8 million and an additional $7.0 million over budget from the Victorian Development Fund. Commonwealth Payments Commonwealth payments to Victoria totalled $4 229.0 million, which was $75.7 million above Budget. The main variations were in respect of: • the receipt of a $60.0 million grant to reduce the transitional pressure on gas prices resulting from the introduction of the resource rent tax on Bass Strait production. (The grant relates to $30.0 million for each of 1990-91 and 1991-92); • TAFE and schools funding was over budget owing to the receipt of a special grant for additional places at TAFE colleges and higher actual numbers of enrolments at schools than forecast; and XIX
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 and 10: meet urgent claims may also be prov
Page 11 and 12: TABLE A,2 BALANCING THE CONSOLIDATE
Page 13: Pay-roll Tax Receipts from Pay-roll
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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