2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementROAD TRAUMA TRUST ACCOUNTTable 5.52011-12$m2012-13$mBalance at 1 July 3 43Receipts 63 89Payments 22 88Balance at 30 June 43 44Note: Columns may not add due to rounding.Royalties for Regions FundThe Royalties for Regions Fund was established in December 2008 to set aside 25% ofthe State’s annual royalty income to fund investment in regional Western Australia.Receipts reflect moneys appropriated by Parliament and interest revenue earned on theaccount balance. Funds are drawn to support regional economic, business and socialinfrastructure. Details on Royalties for Regions expenditure over the forward estimatesperiod is contained in Appendix 7.ROYALTIES FOR REGIONS FUNDTable 5.62011-12$m2012-13$mBalance at 1 July 670 687Receipts 1,257 1,245Payments 1,240 1,059Balance at 30 June 687 873Note: Columns may not add due to rounding.Royalties for Regions Southern Inland Health InitiativeThis SPA was established in June 2012 to hold funds for expenditure on the SouthernInland Health Initiative, pursuant to section 9(1) of the Royalties for Regions Act 2009.Access to health care services will be improved through the provision of additionalresources, improvements to local hospitals and health facilities and investment intelehealth services in the Great Southern, Mid West, Goldfields, South West andWheatbelt regions.136
Appendix 5Table 5.7ROYALTIES FOR REGIONS SOUTHERN INLAND HEALTH INITIATIVE2011-12$m2012-13$mBalance at 1 July - 226Receipts 226 18Payments - 36Balance at 30 June 226 208Note: Columns may not add due to rounding.Western Australian Future FundThe Western Australian Future Fund was established as a Treasurer’s SPA following thepassage of the Western Australian Future Fund Act 2012 in November 2012. The Actprovides for an accruing balance over 20 years to 2032, after which the annual interestearnings can be drawn down to fund economic or social infrastructure acrossWestern Australia.Around $1 billion in ‘seed capital’ will be transferred from the Royalties for RegionsFund over the period 2012-13 to 2015-16. From 2016-17 onwards, a minimum of 1% ofthe State’s annual royalty revenue will be paid into the Future Fund.The Future Fund is indicatively estimated to have a balance of around $4.7 billion intwenty years’ time, with annual interest earnings at that time of around $270 millionper annum (up from an estimated $230 million at budget-time, reflecting finalisation ofthe Future Fund investment framework and associated revision to the long-run return).WESTERN AUSTALIAN FUTURE FUNDTable 5.82011-12$m2012-13$mBalance at 1 July - -Receipts - 292Payments - -Balance at 30 June - 292Note: Columns may not add due to rounding.Oakajee Port Development AccountAs this appendix only refers to current SPA balances, it does not include theOakajee SPA. The Government remains committed to the Oakajee project and hasallocated $339 million over the forward years to the Oakajee SPA.137
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2012-13 Government Mid-year Financial Projections Statement

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