2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementEducationExpensesCommonwealth FundingAn additional $77.4 million will be spent over the forward estimates period on educationprograms as a result of the revised recurrent funding for Western Australia reflected in theCommonwealth Government’s 2012-13 Budget and Mid-year Economic and FiscalOutlook.DepreciationThe Department’s non-cash depreciation expenses have been revised down by$163.7 million over the forward estimates period reflecting a change in accounting policyto revise the estimated useful life of school buildings from 40 years to 50 years.Independent Public SchoolsAn additional $9 million will be spent across the forward estimates period to meet costsassociated with the fourth intake of Independent Public Schools.Student Growth and Cost Pressure FundingAn additional $332.1 million will be spent over the forward estimates period to resourceschools for growth in student enrolments and associated cost pressures. Actual studentenrolments in 2012 were approximately 8,000 higher than forecast at the time of the2012-13 Budget. The additional funding provides for an additional 681 full-timeequivalent staff in the public school system.Asset InvestmentEducation Infrastructure UpgradesAn additional $104.9 million will be spent over the forward estimates period to upgradeand improve school facilities, and bring forward the construction of two secondaryschools to meet anticipated population growth.Education ServicesExpensesLow Interest Loan SchemeNotional interest expense for the Low Interest Loan Scheme is estimated to reduce by$12.5 million over the forward estimates period as lower interest rates have resulted in asmaller variance between the market rate and those applied by the scheme. The schemeprovides subsidised loans totalling $25 million per annum to non-government schools.118
Appendix 3School Curriculum and Standards AuthorityAsset InvestmentNew AccommodationAn office accommodation fit out worth $2.3 million in 2012-13 will not progress aspreviously budgeted. The Authority will not be co-locating with the Department ofEducation Services and the Teacher Registration Board in 2014 as the new premises donot meet the strict security required for examination development and logistics.Alternative accommodation solutions will be investigated.SynergyExpensesOperating SubsidyThe Economic Regulation Authority’s Final Determination on Western Power’s revisedAccess Arrangement resulted in lower network costs to be incurred by Synergy.This determination has resulted in a $363.9 million reduction over the forward estimatesperiod in the operating subsidy paid to Synergy.Asset InvestmentCritical Information Technology InfrastructureAn additional $16.3 million will be spent over the forward estimates period on upgradingSynergy’s critical call centre communication infrastructure, the ongoing replacement ofcritical assets and a critical core server disaster recovery program.Horizon PowerExpensesOperating SubsidyChanges to Horizon Power’s demand and energy forecasts will increase its Non-TariffAdjustment Payment operating subsidy requirement by $19.1 million over the forwardestimates period. Conversely, a decline in residential demand within Horizon Power’sservice areas will decrease its Tariff Adjustment Payment operating subsidy requirementby $44.9 million over the forward estimates period. The net change over the forwardestimates period is a reduction in Horizon Power’s operating subsidy requirement of$25.8 million.119
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2012-13 Government Mid-year Financial Projections Statement

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