2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementDepreciationDepreciation expenses have been revised downwards by $10.5 million over the forwardestimates period mainly as a result of a revaluation of the Trust’s asset portfolio.Perth Arena Naming RightsAn amount of $6.4 million will be spent over the forward estimates period to ensure thename ‘Perth Arena’ is retained.Perth Rectangular Stadium – DepreciationAdditional depreciation expenses of $8.6 million over the forward estimates period havebeen recognised for the new Perth Rectangular Stadium following the appointment of theTrust as the responsible authority.Racing, Gaming and LiquorExpensesDeed of Settlement and Release – GolfWestAn amount will be paid to the GolfWest Trading Company (GolfWest) in 2012-13 byway of a ‘Deed of Settlement and Release’ as compensation for the costs, damages,expenses and/or losses incurred by GolfWest as a result of the new Perth Stadiumdevelopment. The amount of this compensation is commercial in confidence at the timeof finalising this mid-year review.Burswood Park BoardExpensesHotel Development at Burswood – Increased Burswood Park LevyAn additional $1.9 million will be spent over 2014-15 and 2015-16 on the managementand improvement of the Burswood Park reserve, funded from additional revenue that willbe received through the Burswood Park Levy due to projected increases in gamingrevenues associated with the Burswood hotel development.116
Appendix 3MINISTER FOR EDUCATION; ENERGY; INDIGENOUSAFFAIRSMAJOR PORTFOLIO SPENDING CHANGES2012-13$m2013-14$m2014-15$m2015-16$mCOUNTRY HIGH SCHOOL HOSTELS AUTHORITYAsset InvestmentRoyalties for Regions – Geraldton Residential College 0.5 2.1 - -EDUCATIONExpensesCommonwealth Funding 38.1 15.0 13.0 11.3Depreciation -37.7 -40.2 -42.2 -43.6Independent Public Schools 3.2 1.9 1.9 2.0Student Growth and Cost Pressure Funding 54.9 74.4 87.8 105.0Asset InvestmentEducation Infrastructure Upgrades 0.7 6.9 29.8 67.5EDUCATION SERVICESExpensesLow Interest Loan Scheme -3.1 -3.1 -3.1 -3.1SCHOOL CURRICULUM AND STANDARDSAUTHORITYAsset InvestmentNew Accommodation -2.3 - - -SYNERGYExpensesOperating Subsidy -2.8 -23.7 -105.7 -231.7Asset InvestmentCritical Information Technology Infrastructure 5.5 7.1 1.5 2.3HORIZON POWERExpensesOperating Subsidy 2.2 -5.9 -7.5 -14.7Asset InvestmentPilbara Generation Capacity – site works and networkupgrade 69.0 49.0 - -Country High School Hostels AuthorityAsset InvestmentRoyalties for Regions – Geraldton Residential CollegeAn additional $2.6 million will be spent over 2012-13 and 2013-14 for additions andimprovements to the Geraldton Residential College. This will allow for the addition of16 individual bedrooms in the female student wing, and refurbishment of an existingdormitory, including upgrading bedrooms and creating activity and recreation spaces.117
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2012‐13GovernmentMid‐year Finan
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2012-13 Government Mid-year Financial Projections Statement

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