2012-13 Government Mid-year Financial Projections Statement

2012-13 Government Mid-year Financial Projections StatementPublic Transport Authority of Western AustraliaExpensesInterestThe Authority has reviewed its interest forecasts in conjunction with theWestern Australian Treasury Corporation, and has reduced forecast interest expenditureby $26 million over three years, commencing in 2013-14. This primarily reflects lowerthan previously forecast interest rates.Various Operating CostsAn additional $39.7 million will be spent over four years, commencing in 2012-13,on costs associated with the operation of the new Aubin Grove train station and sevenadditional three-railcar sets. The additional expenditure is also due to other network-widepressures associated with Transperth bus and SmartRider maintenance contractsassociated with increased patronage.Additional Fare, Advertising and Infringement RevenueThe Authority is projecting higher than expected revenue of $48 million over the forwardestimates period. This includes additional fare revenue from higher than expectedpatronage, and additional infringement and advertising revenue. Higher revenue reducesthe general government operating subsidy paid to the Authority by $12 million in 2012-13and $48 million over forward estimates period.Asset InvestmentAubin Grove Train StationAn additional $80 million will be spent over the forward estimates period on theconstruction of a new passenger train station, associated minor bus interchange, and a2,000 bay car park at Aubin Grove. This includes the purchase of an additional twothree-railcar sets to meet the increased travel demand associated with the station.Procurement of an Additional Five Three-Railcar SetsAn additional $55.8 million will be spent over five years, commencing in 2012-13, todeliver an additional five three-railcar sets in 2016.Commissioner of Main RoadsExpensesLocal Government RoadsAn additional $67 million will be spent over the forward estimates period on works to becarried out on local government roads.110