2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementPUBLIC FINANCIAL CORPORATIONSCash Flow StatementTable 1.12CASH 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 6 5 5 5 5 5Receipts from sales of goods and services 922 936 888 965 1,044 1,125Interest receipts 1,717 2,260 1,877 2,150 2,399 2,593Dividends and tax equivalents - - - - - -Other receipts 124 124 118 127 135 145Total cash received 2,770 3,325 2,887 3,247 3,582 3,868Cash paidWages, salaries and supplements, and superannuation -44 -49 -50 -53 -56 -58Payments for goods and services -767 -748 -753 -804 -853 -922Interest paid -1,517 -2,071 -1,706 -1,945 -2,183 -2,373Grants and subsidies paid - - - - - -Tax equivalents -7 -4 -5 -5 -23 -24Other payments -173 -171 -160 -174 -186 -200Total cash paid -2,508 -3,044 -2,674 -2,980 -3,300 -3,577NET CASH FLOWS FROM OPERATING ACTIVITIES 262 281 213 266 282 291CASH FLOWS FROM INVESTING ACTIVITIESCash flows from investments in non-financial assetsPurchase of non-financial assets -13 -7 -7 -5 -4 -5Sales of non-financial assets - - - - - -Total cash flows from investments in non-financial assets -13 -7 -7 -5 -4 -5Cash flows from investments in financial assetsCash receivedFor policy purposes - - - - - -For liquidity purposes 6,110 1,096 1,156 1,201 1,334 1,414Cash paidFor policy purposes - - - - - -For liquidity purposes -6,303 -1,827 -4,952 -1,405 -1,551 -1,595Total cash flows from investments in financial assets -193 -731 -3,796 -204 -217 -181NET CASH FLOWS FROM INVESTING ACTIVITIES -206 -738 -3,802 -209 -221 -186CASH FLOWS FROM FINANCING ACTIVITIESCash receivedAdvances received - - - - - -Borrow ings 38,986 41,599 38,525 35,577 35,496 35,200Deposits received - - - - - -Other financing receipts - - - - - -Total cash received 38,986 41,599 38,525 35,577 35,496 35,200Cash paidAdvances paid - - - - - -Borrow ings repaid -37,358 -41,091 -37,038 -35,571 -35,492 -35,197Deposits paid - - - - - -Other financing payments - - - - - -Dividends paid -81 -47 -83 -83 -83 -120Total cash paid -37,439 -41,138 -37,120 -35,654 -35,575 -35,317NET CASH FLOWS FROM FINANCING ACTIVITIES 1,547 461 1,405 -77 -78 -117Net increase in cash and cash equivalents 1,603 5 -2,184 -20 -17 -12Cash and cash equivalents at the beginning of the year 2,060 2,043 3,664 1,479 1,459 1,442Cash and cash equivalents at the end of the year 3,664 2,048 1,479 1,459 1,442 1,430KEY FISCAL AGGREGATESNet cash flow s from operating activities 262 281 213 266 282 291Net cash flow s from investing in non-financial assets -13 -7 -7 -5 -4 -5Dividends paid -81 -47 -83 -83 -83 -120Cash surplus/-deficit 6 168 228 124 178 195 167Note: Columns may not add due to rounding.84
Appendix 1TOTAL PUBLIC SECTOROperating StatementTable 1.13Results 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 6,850 7,335 7,787 8,403 9,131 9,966Current 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 17,867 18,371 18,457 19,705 21,082 22,563Interest income 924 980 878 898 978 1,012Royalty income 4,343 4,871 4,366 5,178 5,594 6,116Other 954 758 771 795 797 793Total 40,699 41,327 41,087 43,204 45,770 49,372EXPENSESSalaries 10,671 11,160 11,047 11,581 12,243 12,909SuperannuationConcurrent costs 1,014 1,057 1,045 1,118 1,206 1,324Superannuation interest cost 317 343 281 306 318 326Other employee costs 305 262 273 272 262 281Depreciation and amortisation 2,702 2,726 2,874 3,063 3,154 3,212Services and contracts 2,579 2,653 2,686 2,806 2,816 2,854Other gross operating expenses 17,204 17,212 17,725 18,423 19,280 20,495Other interest 1,587 1,755 1,562 1,751 1,937 2,105Current transfers 3,470 3,554 3,518 3,857 3,924 4,023Capital transfers 384 542 615 508 548 434Total 40,233 41,264 41,627 43,683 45,687 47,963NET OPERATING BALANCE 6 466 63 -541 -478 83 1,409Other economic flowsNet gains on assets/liabilities 89 107 137 272 325 414Net actuarial gains - superannuation -1,737 234 -330 -4 -33 -88Provision for doubtful debts -43 -18 -19 -17 -18 -19All other - - - - - -Total other economic flows -1,692 323 -212 251 274 307OPERATING RESULT -1,226 386 -753 -228 356 1,716All other movements in equityRevaluations 332 2,351 4,758 3,406 3,274 2,071Gains recognised directly in equity 545 -51 -44 -53 -60 -64Changes in accounting policy/correction of prior period errors -379 -96 -390 40 83 -10All other - - - - - -Total all other movements in equity 498 2,203 4,324 3,393 3,298 1,997TOTAL CHANGE IN NET WORTH -728 2,589 3,571 3,165 3,654 3,713KEY FISCAL AGGREGATESNET OPERATING BALANCE 6 466 63 -541 -478 83 1,409Less Net acquisition of non-financial assetsPurchase of non-financial assets 6,782 7,639 7,323 7,053 6,626 6,443Changes in inventories -8 112 117 18 7 88Other movement in non-financial assets 158 -170 -288 499 -221 -51less:Sales of non-financial assets 892 1,640 1,501 1,602 1,713 1,793Depreciation 2,702 2,726 2,874 3,063 3,154 3,212Total net acquisition of non-financial assets 3,338 3,216 2,776 2,906 1,545 1,475NET LENDING/-BORROWING 6 -2,872 -3,153 -3,317 -3,384 -1,463 -67Note: Columns may not add due to rounding.85
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2012‐13GovernmentMid‐year Finan
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