2012-13 Government Mid-year Financial Projections Statement

2012-13 Government Mid-year Financial Projections StatementGENERAL GOVERNMENTBalance Sheet at 30 JuneTable 1.2Note 2012 2013 2013 2014 2015 2016Budget Mid-year Mid-year Mid-year Mid-yearActual Estimate Revision Revision Revision Revision$m $m $m $m $m $mASSETSFinancial assetsCash and deposits 840 668 575 537 517 524Advances paid 675 666 662 644 625 609Investments, loans and placements 6,200 4,020 5,882 5,005 5,453 6,473Receivables 2,488 2,581 2,484 2,741 2,815 2,939Investment property 8 9 8 8 8 8Shares and other equityInvestments in other public sector entities - equity method 43,389 44,551 45,752 47,192 48,282 48,272Investments in other public sector entities - direct injections 5,544 6,077 6,056 6,465 6,790 7,130Investments in other entities 10 - 10 10 10 10Other financial assets - - - - - -Total financial assets 59,153 58,573 61,427 62,601 64,500 65,966Non-financial assetsLand 37,599 40,384 38,180 38,933 39,818 40,677Property, plant and equipment 37,849 41,287 41,111 44,576 47,313 49,862Biological assets 2 2 2 2 2 2InventoriesLand inventories 95 98 93 91 90 88Other inventories 63 68 62 62 62 62Intangibles 511 377 463 408 418 406Non-current assets held for sale 91 33 86 54 53 53Other 213 173 142 133 133 135Total non-financial assets 76,423 82,423 80,140 84,260 87,888 91,283TOTAL ASSETS 135,577 140,996 141,567 146,861 152,388 157,249LIABILITIESDeposits held 528 290 454 428 444 480Advances received 454 440 439 424 408 393Borrow ings 8,871 10,264 11,113 13,412 15,278 16,670Unfunded superannuation 8,937 8,420 9,106 8,990 8,925 8,945Other employee benefits 2,797 2,749 2,828 2,863 2,900 2,642Payables 885 609 936 937 938 940Other liabilities 1,630 1,680 1,645 1,596 1,630 1,603TOTAL LIABILITIES 24,101 24,452 26,521 28,649 30,523 31,672NET ASSETS 111,475 116,544 115,046 118,211 121,865 125,578Of which:Contributed equity - - - - - -Accumulated surplus 9,547 10,550 10,460 10,273 10,676 12,429Other reserves 101,928 105,994 104,587 107,938 111,189 113,149NET WORTH 6 111,475 116,544 115,046 118,211 121,865 125,578MEMORANDUM ITEMSNet financial worth 35,052 34,121 34,907 33,951 33,977 34,294Net financial liabilities 13,881 16,507 16,901 19,706 21,095 21,108Net debtGross debt liabilities 9,853 10,994 12,006 14,264 16,130 17,542less : liquid financial assets 7,715 5,354 7,118 6,185 6,595 7,607less: convergence differences impacting net debt 88 88 88 88 88 -Net debt 2,050 5,552 4,800 7,991 9,447 9,935Note: Columns may not add due to rounding.74