2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementPilbara Generation Capacity - site works and network upgrade provisionAn additional $21 million held as a provision for site works and network upgrades at theBoodarie Industrial Estate in South Hedland, with release subject to further justificationbeing provided to the Minister for Energy and the Treasurer. If spent, it is assumed thatthese costs will be recovered by the eventual IPP.128
A P P E N D I X 4The Treasurer’s AdvanceThe Treasurer’s Advance is provided for under the Financial ManagementAct 2006 (FMA). It authorises the Treasurer to make short-term recoverable advances toagencies for the temporary financing of works and services (referred to as ‘netunrecouped balances’) and to provide new or supplementary funding during the year forextraordinary or unforeseen matters (known as ‘excesses and new items’).The total amount drawn against recoverable advances, excesses and new items for2012-13 must remain within the $651.5 million limit authorised by the FMA, unlessadjusted by Parliament by enacting a Treasurer’s Advance Authorisation Act.Based on the mid-year review estimates, the expected outturn for the 2012-13 Treasurer’sAdvance is $315 million.Table 4.1 shows the estimated position of the Treasurer’s Advance for 2012-13,consistent with the agency data underlying the financial projections presented in thismid-year review.TREASURER’S ADVANCETable 4.12011-12Actual$m2012-13Projection (a)$mAUTHORISED LIMIT 577.1 651.5Total projected to be drawn against Treasurer’s Advance authorisation 398.8 318.6Comprising:Net recoverable advances as at 30 June 9.5 20.0Overdrawn Special Purpose Account (b) 0.9 -Approved Excesses and New Items- recurrent 324.0 228.7- capital 64.4 69.9(a) Detailed disclosure of the final audited outcome for 2012-13 will be available in the 2012-13 Annual Report on StateFinances, to be released by 28 September 2013.(b) The Treasurer has given approval to the Department of Mines and Petroleum to overdraw a Special PurposeAccount (SPA). Any overdrawn SPA is taken to be an advance to be charged in the relevant financial year to theTreasurer’s Advance Account.Note: Columns may not add due to rounding.129
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2012-13 Government Mid-year Financial Projections Statement

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