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Jun 24, 2022 · The Monthly Financial Statements for May 2022 report the budget position against the expected monthly profile for the 2021-22 financial year through to 31 May 2022, based on the 2021-22 Revised Budget estimates published in the 2022-23 Budget in March 2022. The underlying cash balance for the 2021-22 financial year to 31 May 2022 was a deficit ...
The underlying cash balance for the financial year to 31 May 2022 was a deficit of $33.4 billion, which is $27.1 billion lower than the 2021-22 Revised Budget profile deficit of $60.5 billion. Receipts. Total receipts were $16.2 billion higher than the 2021-22 Revised Budget profile. Payments.
- Senator the Honourable Katy Gallagher
- Commonwealth of Australia material used ‘as supplied’
- Derivative material
- Use of the Coat of Arms
- Part 2: Australian Government Financial Statements
- Australian Government Financial Statements
- operating statement.
- Operating statement
- Net operating balance
- Fiscal balance
- Balance sheet
- Net worth
- Net financial worth
- Net financial liabilities
- Cash flow statement
- Headline cash balance
- Total non-financial public sector
- General government sector
- Employment and Workplace Relations Portfolio
- Foreign Affairs and Trade Portfolio
- Finance Portfolio
- Infrastructure, Transport, Regional Development, Communications and the Arts Portfolio
- Social Services Portfolio
- National Partnership payments
- Appendix B: Historical Australian Government Data
Minister for Finance, Minister for Women, Minister for the Public Service of the Commonwealth of Australia For the information of honourable members
Provided you have not modified or transformed Commonwealth of Australia material in any way including, for example, by changing the Commonwealth of Australia text; calculating percentage changes; graphing or charting data; or deriving new statistics from published Commonwealth of Australia statistics – then Commonwealth of Australia prefers the fol...
If you have modified or transformed Commonwealth of Australia material, or derived new material from those of the Commonwealth of Australia in any way, then Commonwealth of Australia prefers the following attribution: Based on Commonwealth of Australia data.
The terms under which the Coat of Arms can be used are set out on the Department of the Prime Minister and Cabinet website (see www.pmc.gov.au/ honours-and-symbols/commonwealth-coat-arms).
Consistent with the Charter of Budget Honesty Act 1998 (the Charter), the Government has produced a set of financial statements for the Australian Government general government sector (GGS), the public non-financial corporations (PNFC) sector, the total non-financial public sector (NFPS) and the public financial corporations (PFC) sector. The finan...
The month of June is derived by deducting May year-to-date published data from the annual outcome. Statistically, June movements in some series relate to earlier published months that are not reissued; this can result in negative movements. Consistent with the ABS GFS classification, other employee related expenses are classified separately from wa...
Consistent with the ABS GFS framework, and in general AAS, the financial statements record flows in the period in which they occur. As a result, prior period outcomes may be revised for classification changes relating to information that could reasonably have been expected to be known in the past, is material in at least one of the affected periods...
The operating statement presents details of transactions in revenues, expenses, the net acquisition of non-financial assets (net capital investment) and other economic flows for an accounting period. Revenues arise from transactions that increase net worth and expenses arise from transactions that decrease net worth. Revenues less expenses gives th...
The net operating balance is the excess of revenue from transactions over expenses from transactions. The net operating balance excludes expenditure on the acquisition of capital assets but includes non-cash costs such as accruing superannuation entitlements and the consumption of capital (depreciation). By including all accruing costs, including d...
The fiscal balance (or net lending/borrowing) is the net operating balance less net capital investment. The fiscal balance includes the impact of net expenditure (effectively purchases less sales) on non-financial assets rather than consumption (depreciation) of non-financial assets.3 The fiscal balance measures the Australian Government’s invest...
The balance sheet shows stocks of assets, liabilities and net worth. In accordance with the UPF, net debt, net financial worth and net financial liabilities are also reported in the balance sheet.
The net worth of the GGS, PNFC and PFC sectors is defined as assets less liabilities. This differs from the ABS GFS definition for the PNFC and PFC sectors where net worth is defined as assets less liabilities less shares and other contributed capital. Net worth is an economic measure of wealth, reflecting the Australian Government’s contribution t...
Net financial worth measures a government’s net holdings of financial assets. It is calculated from the balance sheet as financial assets minus liabilities. This differs from the ABS GFS definition of net financial worth for the PNFC and PFC sectors, defined as financial assets, less liabilities, less shares and other contributed capital. Net finan...
Net financial liabilities comprises total liabilities less financial assets but excludes equity investments in the other sectors of the jurisdiction. Net financial liabilities is a more accurate indicator than net debt of a jurisdiction’s fiscal position as it includes substantial non-debt liabilities such as accrued superannuation and long service...
The cash flow statement identifies how cash is generated and applied in a single accounting period. The cash flow statement reflects a cash basis of recording (rather than an accrual basis) where information is derived indirectly from underlying accrual transactions and movements in balances. This, in effect, means that transactions are captured wh...
The headline cash balance is calculated by adding net cash flows from investments in financial assets for policy purposes to the underlying cash balance. Net cash flows from investments in financial assets for policy purposes include equity transactions and advances paid. Equity transactions include equity injections into controlled businesses and ...
(Includes Reserve Bank of Australia and other borrowing authorities)
(Government departments and agencies that provide non-market public services, or involve the transfer or redistribution of income, and are funded mainly through taxes)
• Coal Mining Industry (Long Service Leave Funding) Corporation
• Export Finance and Insurance Corporation (Export Finance Australia)
ASC Pty Ltd Australian Naval Infrastructure Pty Ltd
Airservices Australia Australian Postal Corporation (Australia Post) Australian Rail Track Corporation Limited National Intermodal Corporation Limited NBN Co Limited WSA Co Ltd
• Australian Hearing Services (Hearing Australia) The National Housing Finance and Investment Corporation (NHFIC), a corporate Commonwealth entity, operates an affordable housing bond aggregator to encourage greater private and institutional investment and provide cheaper and longer term finance to registered providers of affordable housing. The NH...
Under the Intergovernmental Agreement, National Partnership payments to the states are the key vehicle to support the delivery of specified projects, facilitate reforms or reward jurisdictions that deliver on nationally significant reforms. National Partnership payments are typically time limited, reflecting the nature of the project or reform invo...
This appendix reports historical data for the Australian Government fiscal aggregates across the general government, public non-financial corporations and non-financial public sectors.
The $33.0-billion increase in the federal debt reflects the 2022–23 budgetary deficit of $35.3 billion and a $2.6-billion increase to the opening balance of the federal debt in 2022-23 on implementation of the new financial instruments standards, offset in part by $4.8 billion in net remeasurement gains.
The 2022–23 outcome represents an improvement in the underlying cash surplus of $17.9 billion compared with the surplus estimated in the 2023–24 Budget. Receipts were $13.9 billion higher than expected, primarily driven by strong company tax returns. Payments were $4.0 billion lower than estimated in the Budget, reducing real growth in ...
Jan 27, 2023 · Underlying Cash Balance. The underlying cash balance for the financial year to 31 December 2022 was a deficit of $14.7 billion, which is $11.5 billion lower than the 2022-23 October Budget profile deficit of $26.2 billion. Receipts Total receipts were $8.8 billion higher than the 2022-23 October Budget profile. Payments
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underlying cash deficit of $32.0 billion (1.4 per cent of GDP). The Final Budget Outcome (FBO) for 2021-22 represents a reduction in the underlying cash deficit of $47.9 billion compared with that estimated in the 2022-23 March Budget. This was a result of higher receipts of $27.7 billion and lower payments of $20.1 billion.
