Education

Note 6: Underlying net operating balance
Non-operational capital funding is the income from transactions relating to funding for capital projects. This funding is
classified as income from transactions and included in the net operating balance. However, the corresponding capital
expenditure is not included in the calculation of the net operating balance. Accordingly, the net operating balance will
portray a position that is better than the true underlying financial result.
For this reason, the net operating result is adjusted to remove the effects of funding for capital projects.
Notes
2013
Budget
$’000
2013
Actual
$’000
2012
Actual
$’000
Net result from transactions (net operating balance) (9,824) (19,639) 19,209
Less impact of non-operational capital funding
Revenue from government – works and services 2.10(a), 7.1 12,050 12,161 61,384
Other revenue from government 2.10(a), 7.1 – – 1,162
Total 12,050 12,161 62,546
Underlying net operating balance (21,874) (31,800) (43,337)
Note 7: Income from transactions
7.1
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 have not been subject to audit.
Continuing operations
Appropriation revenue – recurrent
2013
Budget
$’000
2013
Actual
$’000
2012
Actual
$’000
Current year 893,214 866,773 926,677
Total 893,214 866,773 926,677
Appropriation revenue – works and services 12,050 12,161 61,384
Total 12,050 12,161 61,384
Revenue from government – other
Appropriation carried forward under section 8A(2) of the Public
Account Act 1986 taken up as revenue in the current year
Other non-operational capital funding
16,465 5,553 6,280
Other revenue from government – – 1,161
Total other revenue 16,465 5,553 7,441
Total revenue from government 921,729 884,487 995,502
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.
126 Financial Statements » Notes