2012-13 Government Mid-year Financial Projections Statement

2012-13 Government Mid-year Financial Projections StatementTOTAL PUBLIC SECTORBalance Sheet at 30 JuneTable 1.14Note 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 1,606 1,381 1,488 1,503 1,633 1,652Advances paid 3,630 5,296 5,222 5,264 5,310 5,319Investments, loans and placements 18,575 10,261 15,568 13,306 13,089 13,852Receivables 4,255 3,967 4,206 4,442 4,615 4,785Investment property 545 605 586 629 668 706Equity - Investments in other entities 1,236 1,389 1,322 1,425 1,533 1,646Other financial assets 39 52 39 39 39 39Total financial assets 29,886 22,952 28,431 26,609 26,887 28,000Non-financial assetsLand 51,869 55,242 54,487 56,272 57,878 58,304Property, plant and equipment 83,926 88,137 88,783 93,628 97,437 101,066Biological assets 335 343 331 328 322 316InventoriesLand inventories 1,831 2,031 2,106 2,213 2,265 2,146Other inventories 3,443 3,911 3,559 3,577 3,584 3,672Intangibles 943 652 849 784 776 739Non-current assets held for sale 110 61 105 74 72 72Other 391 365 318 301 298 310Total non-financial assets 142,847 150,742 150,539 157,177 162,632 166,626TOTAL ASSETS 172,733 173,694 178,969 183,787 189,519 194,626LIABILITIESDeposits held 192 67 190 190 190 190Advances received 454 440 439 424 408 393Borrow ings 37,776 35,114 39,961 41,629 43,545 45,009Unfunded superannuation 9,097 8,512 9,233 9,079 8,977 8,959Other employee benefits 3,203 3,125 3,234 3,272 3,314 3,058Payables 5,032 4,977 5,110 5,140 5,210 5,276Other liabilities 5,503 4,914 5,756 5,842 6,010 6,164TOTAL LIABILITIES 61,258 57,150 63,923 65,576 67,654 69,048NET ASSETS 111,475 116,544 115,046 118,211 121,865 125,578Of which:Contributed equity - - - - - -Accumulated surplus 29,629 30,662 29,853 29,498 29,763 31,366Other reserves 81,846 85,882 85,194 88,713 92,102 94,211NET WORTH 6 111,475 116,544 115,046 118,211 121,865 125,578MEMORANDUM ITEMSNet financial worth -31,372 -34,198 -35,492 -38,966 -40,767 -41,048Net financial liabilities 32,608 35,587 36,814 40,391 42,300 42,694Net debtGross debt liabilities 38,422 35,621 40,590 42,242 44,143 45,591less : liquid financial assets 23,811 16,938 22,278 20,073 20,032 20,823less: convergence differences impacting net debt 88 88 88 88 88 -Net debt 14,523 18,594 18,225 22,081 24,023 24,768Note: Columns may not add due to rounding.86