2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementPUBLIC NON-FINANCIAL CORPORATIONSCash Flow StatementTable 1.6CASH FLOWS FROM OPERATING ACTIVITIESNote 2011-12 2012-13 2012-13 2013-14 2014-15 2015-16Budget Mid-year Mid-year Mid-year Mid-yearActual Estimate Revision Revision Revision Revision$m $m $m $m $m $mCash receivedGrants and subsidies received 2,214 2,151 2,153 2,308 2,217 2,142Receipts from sales of goods and services 15,829 16,183 16,211 17,230 18,451 19,769Interest receipts 253 316 214 239 281 322Dividends and tax equivalents 73 41 45 45 47 87Other receipts 1,262 948 1,031 1,033 1,024 1,230Total cash received 19,632 19,638 19,653 20,855 22,020 23,550Cash paidWages, salaries and supplements, and superannuation -1,166 -1,241 -1,285 -1,327 -1,373 -1,449Payments for goods and services -11,804 -11,640 -11,591 -12,284 -12,967 -13,586Interest paid -964 -1,027 -869 -1,020 -1,105 -1,175Grants and subsidies paid -523 -664 -679 -722 -763 -802Tax equivalents -418 -397 -346 -393 -543 -605Other payments -2,546 -2,519 -3,026 -3,046 -3,075 -3,498Total cash paid -17,421 -17,487 -17,795 -18,793 -19,826 -21,115NET CASH FLOWS FROM OPERATING ACTIVITIES 2,211 2,151 1,858 2,062 2,194 2,436CASH FLOWS FROM INVESTING ACTIVITIESCash flows from investments in non-financial assetsPurchase of non-financial assets -3,447 -4,364 -4,160 -3,957 -3,729 -3,650Sales of non-financial assets 743 1,452 1,274 1,409 1,566 1,574Total cash flows from investments in non-financial assets -2,703 -2,912 -2,886 -2,548 -2,163 -2,075Cash flows from investments in financial assetsCash receivedFor policy purposes - - - - - -For liquidity purposes 177 5 86 17 14 37Cash paidFor policy purposes - - -5 - - -For liquidity purposes -210 -4 -110 -6 -6 -235Total cash flows from investments in financial assets -32 1 -30 12 8 -197NET CASH FLOWS FROM INVESTING ACTIVITIES -2,736 -2,911 -2,915 -2,536 -2,155 -2,273CASH FLOWS FROM FINANCING ACTIVITIESCash receivedAdvances received - - - - - -Borrow ings 12,748 16,071 8,013 2,725 2,777 2,048Deposits received - - - - - -Other financing receipts 723 827 830 803 364 394Total cash received 13,472 16,898 8,843 3,528 3,141 2,442Cash paidAdvances paid -14 -14 -15 -15 -15 -16Borrow ings repaid -11,778 -15,189 -6,944 -2,232 -2,011 -1,430Deposits paid - - - - - -Other financing payments -62 -64 -18 -26 -32 -34Dividends paid -695 -757 -782 -779 -959 -1,083Total cash paid -12,549 -16,024 -7,758 -3,052 -3,018 -2,563NET CASH FLOWS FROM FINANCING ACTIVITIES 923 874 1,085 476 123 -121Net increase in cash and cash equivalents 398 114 28 2 162 43Cash and cash equivalents at the beginning of the year 1,125 958 1,522 1,550 1,552 1,714Cash and cash equivalents at the end of the year 1,522 1,072 1,550 1,552 1,714 1,756KEY FISCAL AGGREGATESNet cash flow s from operating activities 2,211 2,151 1,858 2,062 2,194 2,436Net cash flow s from investing in non-financial assets -2,703 -2,912 -2,886 -2,548 -2,163 -2,075Dividends paid -695 -757 -782 -779 -959 -1,083Cash surplus/-deficit 6 -1,188 -1,518 -1,809 -1,265 -928 -722Note: Columns may not add due to rounding.78
Appendix 1TOTAL NON-FINANCIAL PUBLIC SECTOROperating StatementTable 1.7Results from TransactionsNote 2011-12 2012-13 2012-13 2013-14 2014-15 2015-16Budget Mid-year Mid-year Mid-year Mid-yearActual Estimate Revision Revision Revision Revision$m $m $m $m $m $mREVENUETaxation 6,852 7,338 7,790 8,406 9,134 9,970Current grants and subsidies 8,678 8,083 8,139 7,594 7,458 8,272Capital grants 1,082 929 688 631 731 651Sales of goods and services 17,203 17,698 17,818 19,025 20,372 21,801Interest income 520 547 459 440 514 560Royalty income 4,343 4,871 4,366 5,178 5,594 6,116Dividend and tax equivalents 60 82 108 109 106 141Other 955 758 771 795 797 793Total 39,694 40,306 40,140 42,178 44,707 48,304EXPENSESSalaries 10,629 11,116 11,002 11,532 12,192 12,856SuperannuationConcurrent costs 1,010 1,053 1,041 1,114 1,201 1,318Superannuation interest cost 317 343 281 306 318 326Other employee costs 303 260 271 269 260 279Depreciation and amortisation 2,688 2,708 2,856 3,044 3,135 3,194Services and contracts 2,566 2,641 2,673 2,791 2,801 2,837Other gross operating expenses 16,415 16,665 17,179 17,831 18,629 19,785Other interest 1,324 1,510 1,313 1,496 1,689 1,874Current transfers 3,470 3,553 3,518 3,857 3,924 4,023Capital transfers 384 538 608 504 544 430Total 39,107 40,387 40,743 42,744 44,693 46,922NET OPERATING BALANCE 6 587 -81 -603 -566 14 1,381Other economic flowsNet gains on assets/liabilities 147 107 137 272 325 414Net actuarial gains - superannuation -1,735 234 -330 -4 -33 -88Provision for doubtful debts -43 -18 -19 -17 -18 -19All other - - - - - -Total other economic flows -1,631 323 -212 251 274 307OPERATING RESULT -1,044 243 -815 -316 288 1,688All other movements in equityRevaluations 317 2,344 4,756 3,399 3,267 2,069Gains recognised directly in equity 448 -51 -44 -53 -60 -64Changes in accounting policy/correction of prior period errors -285 -99 -459 36 83 -10Change in net w orth of the PFC sector -164 152 133 99 76 30All other - - - - - -Total all other movements in equity 316 2,347 4,386 3,481 3,366 2,025TOTAL CHANGE IN NET WORTH -728 2,589 3,571 3,165 3,654 3,713KEY FISCAL AGGREGATESNET OPERATING BALANCE 6 587 -81 -603 -566 14 1,381Less Net acquisition of non-financial assetsPurchase of non-financial assets 6,768 7,633 7,316 7,048 6,621 6,439Changes in inventories -8 112 117 18 7 88Other movement in non-financial assets 158 -170 -288 499 -221 -51less:Sales of non-financial assets 891 1,640 1,501 1,602 1,713 1,793Depreciation 2,688 2,708 2,856 3,044 3,135 3,194Total net acquisition of non-financial assets 3,339 3,227 2,787 2,919 1,559 1,489NET LENDING/-BORROWING 6 -2,752 -3,307 -3,390 -3,485 -1,545 -108Note: Columns may not add due to rounding.79
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2012‐13GovernmentMid‐year Finan
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2012-13 Government Mid-year Financial Projections Statement

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