2012-13 Government Mid-year Financial Projections Statement

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2012-13 Government Mid-year Financial Projections StatementNOTE 5: GENERAL GOVERNMENT EXPENSES AND SPENDING ON THEPURCHASE OF NON-FINANCIAL ASSETS BY GOVERNMENT PURPOSECLASSIFICATION (a)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 $mExpensesGeneral public services 327 676 539 901 1,114 1,400Public order and safety 3,013 2,863 2,969 3,010 3,116 3,229Education 5,870 6,099 6,145 6,227 6,429 6,809Health 6,268 6,604 6,731 6,937 7,190 7,391Social security and w elfare 1,677 1,743 1,742 1,868 1,946 2,004Housing and community amenities 1,983 1,834 1,714 2,001 2,104 2,127Recreation and culture 831 816 827 848 910 824Fuel and energy 528 535 534 503 395 333Agriculture, forestry, fishing and hunting 400 384 377 364 354 336Mining and mineral resources other than fuels; manufacturing;and construction 200 220 221 228 218 227Transport and communications 1,871 1,815 1,836 1,908 1,962 2,023Other economic affairs 753 759 685 809 703 641Other purposes 853 932 857 940 1,078 1,210Total General Government Expenses 24,571 25,281 25,178 26,543 27,517 28,553Purchases of new non-financial assetsGeneral public services 260 218 252 186 193 244Public order and safety 282 401 422 334 199 75Education 691 567 654 546 379 297Health 1,141 1,130 1,102 1,141 717 229Social security and w elfare 62 57 69 61 38 12Housing and community amenities 132 166 48 99 232 326Recreation and culture 184 186 251 110 194 401Fuel and energy 10 5 10 2 3 2Agriculture, forestry, fishing and hunting 18 30 32 21 24 23Mining and mineral resources other than fuels; manufacturing;and construction 1 3 3 1 1 1Transport and communications 544 857 871 913 838 804Other economic affairs 34 181 226 128 57 32Other purposes - -500 -750 -400 50 350Total Purchases of Non-financial Assets 3,358 3,301 3,191 3,140 2,925 2,796(a)Data in this table are for consolidated general government aggregates and exclude internal transactions within the sector.In relation to purchases of non-financial assets, the information in this table represents spending by function on fixedassets by general government agencies, which has a different sectoral coverage to the Asset Investment Program.NOTE 6: CONVERGENCE DIFFERENCESWhere possible, AASB 1049 harmonises GFS and accounting concepts into a singlepresentation. Where harmonisation cannot be achieved (e.g. the recognition of a doubtfuldebts provision is excluded from GFS net worth), a convergence difference arises.The following tables detail all convergence differences in the forward estimates.90
Appendix 1General governmentAASB 1049 TO GFS CONVERGENCE DIFFERENCESNet Operating Balance2011-12 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 $mAASB1049 net operating balance 649 196 140 -187 393 1,770Plus GFS revenue adjustments - - - - - -Less GFS expense adjustmentsDampier to Bunbury Natural Gas Pipeline - extinguish loan asset - - - - - 88Total GFS expense adjustments - - - - - 88Total GFS adjustments to AASB 1049 net operating balance - - - - - -88GFS net operating balance 649 196 140 -187 393 1,682Public non-financial corporationsAASB1049 net operating balance 635 481 39 400 580 691Less GFS expense adjustmentsCapitalised interest 37 42 42 48 54 51Dividends 696 758 782 779 959 1,079Total GFS expense adjustments 734 800 824 827 1,013 1,131Total GFS adjustments to AASB 1049 net operating balance -734 -800 -824 -827 -1,013 -1,131GFS net operating balance -99 -319 -784 -427 -433 -440Total non-financial public sectorAASB1049 net operating balance 587 -81 -603 -566 14 1,381Plus GFS revenue adjustments - - - - - -Less GFS expense adjustmentsCapitalised interest 37 42 42 48 54 51Dampier to Bunbury Natural Gas Pipeline - extinguish loan asset - - - - - 88Total GFS expense adjustments 37 42 42 48 54 139Total GFS adjustments to AASB 1049 net operating balance -37 -42 -42 -48 -54 -139GFS net operating balance 550 -122 -645 -614 -40 1,242Public financial corporationsAASB1049 net operating balance -69 190 145 172 151 147Less GFS expense adjustmentsDividends 52 47 83 83 83 120Total GFS expense adjustments 52 47 83 83 83 120Total GFS adjustments to AASB 1049 net operating balance -52 -47 -83 -83 -83 -120GFS net operating balance -121 144 62 88 69 28Total public sectorAASB1049 net operating balance 466 63 -541 -478 83 1,409Plus GFS revenue adjustments - - - - - -Less GFS expense adjustmentsCapitalised interest 37 42 42 48 54 51Dampier to Bunbury Natural Gas Pipeline - extinguish loan asset - - - - - 88Total GFS expense adjustments 37 42 42 48 54 139Total GFS adjustments to AASB 1049 net operating balance -37 -42 -42 -48 -54 -139GFS net operating balance 429 21 -583 -526 29 1,27091
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2012-13 Government Mid-year Financial Projections Statement

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