Department of Education

4.3
Statement
of Cash
Flows
Note
Budget
$’000
Actual
$’000
Variance
$’000
Variance
%
Appropriation receipts – other 1 – 6,797 6,797 –
Sales of goods and services 2 30,341 38,090 7,749 26
GST receipts 3 43,000 58,436 15,436 36
GST payments 3 43,000 56,618 (13,618) 32
Payments for acquisition of non-financial assets 4 249,603 197,892 51,711 21
Notes to Statement of Cash Flows variances
1. The variance is the result of the budget estimate being based upon the department not having an expectation of carry forward appropriations. However, appropriations of
$6.28m were required to be carried forward as provided under section 8A(2) of the Public Account Act 1986.
2. The variance has been influenced by the consolidation of the Tasmanian Academy and the Tasmanian Polytechnic into the Department of Education which contributed
$8.6m in cash flows. The original budget did not reflect the sales of goods and services of these entities. This was offset by below budget sales in other areas of the
department
3. The variance has been influenced by the consolidation of the Tasmanian Academy and the Tasmanian Polytechnic into the Department of Education which contributed
$6.6m in GST receipts and $5.1m in GST payments. The original budget did not reflect the GST receipts and GST payments of these entities. In addition, the budget for these
items did not reflect significant capital programs including Building the Education Revolution.
4. The variance is the result of expenditure for capital programs not occurring at the rate that was budgeted for 2010–11.
Note 5: Events occurring after balance date
There have been no events subsequent to balance date which would have a material effect on the department’s Financial Statements as at 30 June 2011.
However, The Minister for Education and Skills has announced that a Reference Group would consult widely in preparing recommendations for
him on the provision of a viable government school system in Tasmania including:
• the process that should be undertaken to assess a school’s ongoing viability including the criteria, the consultation process to be used and any
transition arrangements required
• any legislative amendments if required
• any other matter that has the potential to affect school viability.
Note 6: Income from transactions
6.1
Revenue
from
government
Revenue from government includes revenue from appropriations, appropriations carried forward under section 8A(2)
of the Public Account Act 1986 and items Reserved by Law. The budget information is based upon original estimates which
has not been subject to audit.
2011
Budget
$’000
2011
Actual
$’000
2010
Actual
$’000
Continuing operations
Appropriation revenue – recurrent
Current year 886,246 911,999 877,308
Total 886,246 911,999 877,308
Revenue from government – other
Appropriation carried forward under section 8A(2) of the Public Account 14,318 11,810 7,609
Act 1986 taken up as revenue in the current year
Total 14,318 11,810 7,609
Non-operational capital funding
Appropriation revenue – works and services 212,926 188,618 221,036
Other revenue from government 12,206 14,737 –
Total 225,132 203,355 221,036
Total revenue from government 1,125,696 1,127,164 1,105,953
Section 8A(2) of the Public Account Act 1986 allows for an unexpended balance of an appropriation to be transferred to an Account in the Special
Deposits and Trust Fund for such purposes and conditions as approved by the Treasurer. In the initial year, the carry forward is recognised as
a liability, revenue received in advance. The carry forward from the initial year is recognised as revenue in the reporting year, assuming that the
conditions of the carry forward are met and the funds are expended.
108
Financial Statements – Notes