2012-13 Government Mid-year Financial Projections Statement

More documents

Recommendations

Info

2012-13 Government Mid-year Financial Projections StatementMetropolitan Redevelopment AuthorityAsset InvestmentRevised Financial ForecastsThe Business Plan for the Authority mainly reflects the revised financial forecasts for allof its key projects, such as Elizabeth Quay, Perth City Link, Riverside, the Perth CulturalCentre, the East Perth Power Station, Subi Centro, Midland, Armadale and Wungong.These forecasts reflect factors such as the acceleration of revenues for Elizabeth Quayoffset by significant delays in revenues across several other projects. Capital spendinghas been deferred where possible, taking into consideration the importance of maintainingthe current timeframes for delivery to ensure the impact on the private sector isminimised.PlanningExpensesAdditional Salaries ExpenditureAn additional $2.4 million has been provided in 2012-13 to meet a funding shortfall in theDepartment’s salaries expenditure.Additional Accommodation ExpenditureAn additional $3.5 million has been provided in 2012-13 to meet a funding shortfall in theDepartment’s accommodation costs.Culture and the ArtsExpensesDepreciationDepreciation expenses on the portfolio’s asset base have been revised downwards by$7.7 million over the forward estimates period following a review of building valuationsand actual expenditure.Museum of Modern Art Exhibitions – InsuranceAn amount of $2.3 million will be spent in 2012-13 by the Art Gallery to meet the cost ofinsurance cover for the Museum of Modern Art Exhibitions.Reduction in Own-source RevenueExpenditure has been revised downwards by $9.5 million over the forward estimatesperiod to reflect a corresponding reduction in own source revenue primarily due to theremoval of ticketing fees following the sale of BOCS Ticketing and Marketing Services.114
Appendix 3MINISTER FOR SPORT AND RECREATION; RACING ANDGAMINGMAJOR PORTFOLIO SPENDING CHANGES2012-13$m2013-14$m2014-15$m2015-16$mSPORT AND RECREATIONAsset InvestmentNew Perth Stadium 5.1 -18.2 1.7 196.9WESTERN AUSTRALIAN SPORTS CENTRE TRUSTExpensesAthletics Track Maintenance - - - 1.8Depreciation -3.7 -2.0 -2.3 -2.5Perth Arena Naming Rights 2.1 1.4 1.4 1.4Perth Rectangular Stadium – Depreciation 0.8 2.6 2.6 2.6RACING, GAMING AND LIQUORExpensesDeed of Settlement and Release – GolfWest - (a) - - -BURSWOOD PARK BOARDExpensesHotel Development at Burswood – Increased BurswoodPark Levy - - 0.6 1.3(a)Commercial in confidence.Sport and RecreationAsset InvestmentNew Perth StadiumThe State Government has approved the new Perth Stadium Project Definition Plan (PDP)which defines the scope of the project, and includes a budget for the Stadiuminfrastructure and its surrounding Sports Precinct. An amount of $458.5 million will bespent over the forward estimates period on Stadium and Sports Precinct design andconstruction works, pre-construction site works and project management. This is up$185.5 million since the 2012-13 Budget, reflecting the final, escalated project costs anddelivery program detailed in the PDP approved by the Government in August 2012.The initial 2012-13 Budget provision was based on indicative, unescalated cost estimates,pending approval of the PDP.Western Australian Sports Centre TrustExpensesAthletics Track MaintenanceAn additional $1.8 million will be spent in 2015-16 to replace the athletics track at theWestern Australian Athletics Stadium as part of the life cycle restorative maintenanceprogram.115
Page 1:
2012‐13GovernmentMid‐year Finan
Page 4 and 5:
2012-13 Government Mid-year Financi
Page 7:
ForewordThis Government Mid-year Fi
Page 10 and 11:
Page 12 and 13:
Page 14 and 15:
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73: 2012-13 Government Mid-year Financi
Page 160: 2012-13 Government Mid-year Financi
show all

2012-13 Government Mid-year Financial Projections Statement

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?