March Quarter 2017 - Consolidated Financial Report · Consolidated Financial Report Financial...

March Quarter 2017 Consolidated Financial Report

for the financial quarter ending 31 March 2017

Table of Contents

1 HIGHLIGHTS .......................................................................................................................... 3

1.1 OVERVIEW OF THE MARCH QUARTER 2017 RESULTS ..................................................................... 3 1.2 FINANCIAL STATEMENT PRESENTATION ........................................................................................ 3 1.3 HEADLINE NET OPERATING BALANCE ........................................................................................... 3

2 GENERAL GOVERNMENT SECTOR .......................................................................................... 4

2.1 TOTAL REVENUE ...................................................................................................................... 4 2.2 TOTAL EXPENSES...................................................................................................................... 5 2.3 SUPERANNUATION RETURN ADJUSTMENT .................................................................................... 5

3 PUBLIC TRADING ENTERPRISES SECTOR ................................................................................ 6

4 TOTAL TERRITORY ................................................................................................................. 6

5 FINANCIAL POSITION AS AT 31 MARCH 2017 ........................................................................ 7

5.1 NET DEBT ............................................................................................................................... 7 5.2 NET FINANCIAL LIABILITIES ......................................................................................................... 8 5.3 NET WORTH ........................................................................................................................... 8 5.4 SUPERANNUATION ASSETS AND LIABILITIES FOR THE TERRITORY ........................................................ 9 5.5 GFS TO AAS RECONCILIATION.................................................................................................. 10

ATTACHMENTS

• ACCOUNTING BASIS • FINANCIAL STATEMENTS • MARCH QUARTER FINANCIAL STATEMENTS • AGENCY YEAR TO DATE REVENUES AND EXPENSES • FINANCIAL INSTRUMENTS SIGNED DURING MARCH QUARTER 2017

Consolidated Financial Report Financial Performance – March 2017

1 Highlights

1.1 Overview of the March Quarter 2017 Year to Date Results

The March Quarter 2017 Headline Net Operating Balance for the General Government Sector (GGS) was a deficit of $83.1 million, which is $91 million lower than the year to date budget deficit of $174 million.

The decrease mainly reflects higher than anticipated taxation revenue and higher than budgeted sales of goods and services revenue. Lower employee, and supplies and services expenditure also contributed to this variance.

The Territory’s Balance Sheet remains strong with Net Worth at $17.3 billion, increasing by $4.9 billion from $12.4 billion at 30 June 2016.

1.2 Financial Statement Presentation

This is a special purpose financial report, which presents the consolidated year to date result for the Territory for the quarter ending 31 March 2017.

The Territory’s financial statement presentation complies with AASB 1049: ‘Whole of Government and General Government Sector Financial Reporting’, and is consistent with the consolidated Australian Accounting Standards (AAS) presentation used in the 2016-17 Budget Papers.

1.3 Headline Net Operating Balance

The following table shows the Headline Net Operating Balance by sector for the quarter ending 31 March 2017.

Headline Net Operating Balance*

2015-16 Actual

$m

2016-17 Annual Budget

$m

2016-17 Mar YTD

Budget $m

2016-17 Mar YTD

Actual $m

2016-17 Mar YTD Variance

$m

2016-17 Estimated Outcome

$m

General Government Sector -174 -182 -174 -83 91 -119 Public Trading Enterprises 253 236 153 156 3 252 Total Territory -225 -207 -124 -11 114 -167

*A detailed Operating Statement can be found in the attachments. A detailed discussion of the performance of the GGS is included in the body of the report.


2 General Government Sector General Government Sector* 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Total Revenue 4,785,087 5,058,184 3,699,338 3,762,478 63,140 5,135,898 Total Expenses 5,106,766 5,403,749 4,001,524 3,959,851 -41,673 5,426,173 UPF Net Operating Balance -321,680 -345,565 -302,186 -197,373 104,813 -290,275 Plus: Superannuation Return

Adjustment** 147,992 163,566 128,109 114,309 -13,800 170,812

Headline Net Operating Balance -173,688 -181,999 -174,077 -83,064 91,013 -119,463

*A detailed Operating Statement can be found in the attachments. ** In all years, the superannuation return adjustment, together with interest, distributions and dividend revenues, provides for expected returns on the total superannuation asset portfolio of 7.5 per cent per annum.

Major variances in total revenue and total expenses are discussed below.

2.1 Total Revenue

Total year to date revenue for the GGS at 31 March 2017 was $3,762.5 million. This is $63.1 million higher than the March year to date budget of $3,699.4 million. Major variances in total revenue include:

• higher than expected taxation revenue of $35.9 million, which mainly reflects of higher than expected commercial conveyance revenue and an increase in high value residential conveyance transactions;

• higher than anticipated sales of goods and services revenue of $24.6 million associated with payments from the Commonwealth for high cost drugs on the Pharmaceutical Benefits Scheme, and higher timber sales from forestry operations as a result of favourable seasonal harvesting operations; and

• higher than expected interest revenue of $9.2 million, which is mainly due to higher than anticipated cash and investment balances held by the Territory Banking Account.

These increases were partially offset by a decrease in Commonwealth grants of $14.6 million; this reflects the timing of payments from the Commonwealth for the Asset Recycling Incentive Initative.


2.2 Total Expenses

Total expenses for the GGS for the quarter to 31 March 2017 were $3,959.9 million. This is $41.7 million lower than the March year to date budget of $4,001.5 million. Major variances in total expenses include:

• lower employee expenses of $23.8 million primarily due to a decrease in the present value factor used to value annual and long service leave employee liabilities; and

• lower supplies and services of $21.1 million, largely due to the timing of project expenditure.

These decreases were partially offset by an increase of $17.6 million in grants and purchased services, a portion of which relates to a higher than anticipated number of participants in the Out of Home Care and Step Up for Kids program.

2.3 Superannuation Return Adjustment

The Government is seeking to extinguish the Territory’s unfunded defined benefit superannuation liability by accumulating financial assets in the Superannuation Provision Account (SPA). The investment earnings on these financial assets include interest, dividends, distributions and capital growth.

Under the Government Finance Statistics reporting framework, capital growth on financial assets is not included as transactional revenue in the Net Operating Balance. This approach understates investment revenue and overstates the net superannuation expense related to the superannuation liability. The superannuation return adjustment, together with interest, distribution and dividend revenues, reflects the long-term target annual return on the investment assets of 7.5 per cent.

The Superannuation Return Adjustment of $114.3 million is $13.8 million lower than the year to date budget of $128.2 million due to investment income revenue being higher than the year to date budget estimate.


3 Public Trading Enterprises Sector

The Net Operating Balance for the Public Trading Enterprises (PTE) sector was a surplus of $156 million for the quarter ending March 2017, which is $2.8 million higher than the year to date budget of $153.3 million.

Public Trading Enterprises Sector*

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Public Trading Enterprises Sector* Total Revenue 1,241,994 1,203,999 772,485 742,934 -29,551 1,205,957 Total Expenses 989,258 968,395 619,237 586,950 -32,286 953,910 Net Operating Balance 252,736 235,604 153,248 155,984 2,735 252,047

*A detailed Operating Statement can be found in the attachments.

4 Total Territory

The Headline Net Operating Balance for the Total Territory for the quarter ending 31 March 2017 is a deficit of $10.7 million, which is $113.5 million lower than the March year to date budget deficit of $124.3 million. Contributing factors to the variation are explained above.

Total Territory* 2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Total Revenue 5,112,687 5,384,375 4,005,283 4,047,370 42,087 5,407,838 Total Expenses 5,485,869 5,755,132 4,257,640 4,172,422 -85,218 5,746,015 UPF Net Operating Balance -373,182 -370,757 -252,357 -125,052 127,305 -338,177 Plus: Superannuation Return Adjustment 147,992 163,566 128,109 114,309 -13,800 170,812 Headline Net Operating Balance -225,190 -207,191 -124,248 -10,743 113,505 -167,365

*A detailed Operating Statement can be found in the attachments.


5 Financial Position as at 31 March 2017

5.1 Net Debt

Net Debt takes into account gross debt liabilities as well as financial assets (such as cash reserves and investments). Net Debt is calculated as the sum of deposits held, advances received and borrowings, less the sum of cash and deposits, advances paid, investments, loans and placements. Superannuation investments assets and liabilities have been excluded in determining Net Debt.

The Net Debt of the GGS as at 31 March 2017 was $1,644.5 million, an increase of $2 million from the 30 June 2016 result of $1,646.5 million.

General Government Sector 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000

2016-17 Revised

Estimate $’000

Net Debt Cash and Deposits 659,575 326,812 586,876 365,527 Advances Paid 1,608,017 1,717,094 1,592,875 1,713,980 Investments and Loans 4,126,405 4,196,927 4,406,420 4,282,820 Less: Superannuation Investments 3,435,247 3,622,151 3,676,633 3,689,741 Deposits Held 15,842 17,195 15,842 16,843 Advances received 1,075,689 1,071,835 1,075,689 1,071,835 Borrowings 3,513,694 3,609,810 3,462,550 3,585,577 Net Debt 1,646,475 2,080,158 1,644,542 2,001,669


5.2 Net Financial Liabilities

Net Financial Liabilities take into account unfunded superannuation liabilities and provide a broader measure of debt than Net Debt. Net Financial Liabilities are calculated as total liabilities less financial assets (such as cash reserves and investments). They take into account all non-equity financial assets, and exclude the value of equity held by the GGS in public corporations (for example, ICON Water).

Net Financial Liabilities of the GGS as at 31 March 2017 were $4,834.4 million which was a decrease of $4,831.5 million from the 30 June 2016 result.

This largely reflects the change in the defined benefit superannuation liability valuation estimate. Current estimates utilise a long-term discount rate assumption of 6 per cent to calculate the present value of the superannuation liability. As required by Australian Accounting Standards the superannuation liability valuation used a discount rate assumption of 2.69 per cent at 30 June 2016. The use of a lower discount rate assumption increases the liability valuation.

General Government Sector 2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000

2016-17 Revised

Estimate $’000

Net Financial Liabilities Financial Assets 13,324,409 13,321,400 13,764,277 13,767,621 Less: PTE Equity Investments 6,311,764 6,443,155 6,450,199 6,612,541 Total Liabilities 16,678,574 12,374,751 12,148,498 12,357,139 Net Financial Liabilities 9,665,928 5,496,506 4,834,380 5,202,059

5.3 Net Worth

Net Worth is calculated as total assets less total liabilities.

Net Worth of the GGS as at 31 March 2016 was $17.3 billion, an increase of $4.9 billion from the 30 June 2016 result of $12.4 billion. This improvement is mainly due to the variation in the superannuation liability described above.

General Government Sector 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000

2016-17 Revised

Estimate $’000

Net Worth Total Assets 29,087,049 29,474,982 29,475,312 29,912,679 Total Liabilities 16,678,574 12,374,751 12,148,458 12,357,139 Net Worth 12,408,475 17,100,231 17,326,854 17,555,540

Consolidated Financial Report Superannuation – March 2017

5.4 Superannuation Assets and Liabilities for the Territory

The Territory’s superannuation liability of $6,158.6 million at 31 March 2017 is the Territory’s single largest liability, at 50.7 per cent of total liabilities.

The investment portfolio has generated net earnings of $293.8 million to 31 March 2017, a financial year to date return of 8.7 per cent versus the budget return estimate of 7.2 per cent. The financial year to date return is currently ahead of the budget estimate, due mainly to the recognition of higher capital gains, resulting from the positive performance of global share markets over the financial year, as well as increased investment revenue income receipts.

The following table provides the year to date performance of superannuation-related investments.

Superannuation Investments 2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Investments Increments - Gains 72,954 163,566 178,330 251,771 73,442 160,320 Investments Decrements - Losses -83,557 - - -37,764 -37,764 - Fees -6,085 -4,996 -3,566 -3,194 372 -4,976 Dividends and Interest 112,925 100,622 70,193 82,991 12,798 99,488

Total 96,238 259,192 244,958 293,805 48,848 254,832

Consolidated Financial Report GFS to AAS Reconciliation – March 2017

5.5 GFS to AAS Reconciliation

The following is a summary reconciliation of the differences between the GGS Operating Result and the Uniform Presentation Framework (UPF) Net Operating Balance. In this table, all land sales proceeds and gains/losses on assets are included as revenues or expenses in the AAS Operating Result, but are excluded from the UPF Net Operating Balance.

The major contributor to the difference between the UPF Net Operating Balance and the AAS Operating Result is $212.9 million in net gains on financial assets.

The AAS Operating Result is $154.8 million higher than the year to date budget deficit of $113.9 million, mainly due to movements in General Government Sector revenue and expenditure described above.

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Headline Net Operating Balance -173,688 -181,999 -174,077 -83,064 91,013 -119,463

Less:

Superannuation Return Adjustment* 147,992 163,566 128,109 114,309 -13,800 170,812

UPF Net Operating Balance -321,680 -345,565 -302,186 -197,373 104,813 -290,275

Plus:

Dividends (Market Gains on Land Sales) 11,924 62,014 22,995 22,995 - 68,567 Net Land Revenue (Undeveloped Land Value) 91,721 94,092 1,187 19,150 17,962 86,305 Net Gain/(Loss) on Sale/(Disposal) of Non-Financial Assets

-85,485 -1,513 -3,515 -11,111 -7,596 -1,513

Net Gain/(Loss) on Financial Assets or Liabilities at Fair Value

-5,430 163,566 172,664 212,943 40,278 232,108

Doubtful Debts -10,276 -6,887 -4,999 -5,702 -703 -6,887 GGS AAS Operating Result -319,226 -34,293 -113,853 40,902 154,755 88,305

*In all years, the superannuation return adjustment, together with interest, distribution and dividend revenues, provides for expected returns on the total superannuation asset portfolio of 7.5 per cent per annum.

Consolidated Financial Report Attachments

Attachments

Consolidated Financial Report Attachment A

Attachment A

Accounting Basis

Consolidated Financial Report Attachment A

Accounting Basis This quarterly consolidated financial management report has been prepared to meet the requirements of section 26 of the Financial Management Act 1996 (FMA) to prepare whole of government financial reports within 45 days of the end of each quarter.

The Territory’s financial statement presentation has been amended to comply with AASB 1049: ‘Whole of Government and General Government Sector Financial Reporting’. The report summarises the financial performance and position of the Territory for the quarter, and the quarter ending 31 March 2017. In accordance with the FMA, this financial report includes all assets, liabilities, revenues, and expenses of each ACT Government sector, including those of directorates, authorities, corporations, and other entities, or interests in other entities, of the ACT Government.

The information contained in this financial report has been prepared in accordance with the FMA, the Australian Accounting Standards and Government Finance Statistics Concepts, Sources and Methods as defined by the Australian Bureau of Statistics (ABS).

This financial report is based on information and accounting policies of individual agencies. While some accounting policies may change when whole of government accounts are prepared, these will relate more to consistent treatment of issues rather than non-disclosure of items.

This report provides financial management information and is not intended to form an audited financial report. Some estimates and assumptions have been necessary to ensure this information is provided within a useful time frame. Any differences will relate primarily to the accounting treatment of specific issues and elimination of internal trading, rather than non-disclosure of the whole of government financial position. Transactions and balances between government controlled entities have been eliminated in accordance with the principles stated in AASB 127: ‘Consolidated Separate Financial Statements’.

Since 1 July 2004, the September, December, and March Quarterly Consolidated Financial Reports have been prepared using estimated year to date figures for the agencies listed below. These agencies are considered immaterial from a whole of government perspective:

• ACT Executive • ACT Gambling and Racing Commission • ACT Public Cemeteries Authority • Auditor-General • CIT Solutions Pty Ltd • Cultural Facilities Corporation • ACT Compulsory Third-Party Insurance • Legal Aid Commission (ACT) • Independent Competition and Regulatory Commission for the ACT • Public Trustee and Guardian (for the ACT) • Electoral Commissioner • Office of the Legislative Assembly • Lifetime Care and Support Fund

Consolidated Financial Report Attachment E

Attachment B

Financial Statements

Consolidated Financial Report Attachment B

Australian Capital Territory General Government Sector Taxation Revenue 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000

General Tax Payroll Tax 422,434 439,977 330,457 336,714 6,257 439,977 Tax Waivers - 172 - - - 172 General Rates 422,635 447,179 441,115 438,446 -2,669 447,216 Land Tax 101,008 110,345 82,653 79,804 -2,849 110,345

Total General Tax 946,076 997,673 854,225 854,964 739 997,710

Duties Conveyances 286,289 266,975 201,172 234,792 33,620 275,901 General Insurance 13,233 - - 658 658 - Leases * - - 255 258 3 - Life Insurance 1,034 - - 6 6 - Motor Vehicle Registrations and

Transfers 28,608 30,630 22,972 22,988 16 30,630

Shares and Marketable Securities# 3 - - -3 -3 -

Total Duties 329,167 297,605 224,399 258,699 34,300 306,531

Gambling Taxes Tabcorp Licence Fee 1,017 1,032 830 830 - 1,032 Gaming Tax 33,524 34,098 25,173 25,173 - 34,098 Casino Tax 2,300 2,254 2,040 2,040 - 2,254 Interstate Lotteries 14,414 14,886 10,047 10,047 - 14,886

Total Gambling Taxes 51,255 52,270 38,089 38,089 - 52,270

Other Taxes

Motor Vehicle Registration 115,676 127,371 95,162 92,836 -2,327 127,371 Ambulance Levy 20,195 22,694 17,020 15,929 -1,091 22,694 Lease Variation Charge 7,377 17,744 13,308 19,614 6,306 17,744 Utilities (Network Facilities) Tax 28,626 30,049 - -1 -1 30,049 Fire and Emergency Service Levy 55,239 64,487 64,283 63,764 -519 64,491 City Centre Marketing and

Improvements Levy 1,986 1,986 1,980 1,841 -139 1,986

Energy Industry Levy 3,129 3,637 3,637 2,055 -1,582 3,637 Lifetime Care and Support Levy 9,522 13,744 15,335 15,415 80 13,744 Safer Families Levy - 4,700 4,661 4,741 80 4,700

Total Other Taxes 241,750 286,412 215,386 216,194 807 286,416 Total Taxation 1,568,249 1,633,960 1,332,099 1,367,947 35,848 1,642,927

*Duty on leases was abolished on 1 July 2009. The year to date actual reflects transactions relating to the 2008-09 financial year. # Duty on shares and marketable securities was abolished on 1 July 2010. The year to date actual reflects transactions relating to previous financial years.


Australian Capital Territory General Government Sector Operating Statement

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Revenue

Taxation Revenue 1,568,249 1,633,960 1,332,099 1,367,947 35,848 1,642,927 Grants Revenue

Commonwealth Grants 1,885,605 2,087,251 1,569,001 1,554,359 -14,641 2,062,747 Gains from Contributed Assets 79,890 155,806 1,215 4,486 3,271 155,806

Sales of Goods and Services 515,524 479,416 366,231 390,870 24,640 479,589 Interest Income 129,782 116,210 84,302 93,507 9,205 123,790 Distributions from Financial Investments 53,835 36,391 22,384 28,891 6,508 29,845 Dividend and Income Tax Equivalents Income 408,546 405,808 213,254 205,766 -7,488 493,410 Other Revenue 143,655 143,342 110,852 116,651 5,799 147,784

Total Revenue 4,785,087 5,058,184 3,699,338 3,762,478 63,140 5,135,898 Expenses

Employee Expenses 1,865,868 1,892,025 1,419,931 1,396,145 -23,786 1,897,725 Superannuation Expenses

Superannuation Interest Cost 315,401 315,534 220,124 220,124 - 293,498 Other Superannuation Expenses 360,678 417,211 344,102 340,781 -3,321 457,962

Depreciation and Amortisation 367,433 372,680 285,250 282,169 -3,081 371,698 Interest Expense 176,217 187,445 139,076 135,910 -3,165 186,212

Other Operating Expenses

Supplies and Services 898,039 1,028,169 633,659 612,568 -21,092 1,010,721

Other Operating Expenses 146,867 191,697 164,963 160,186 -4,777 204,221 Grants and Purchased Services 976,264 998,988 794,420 811,969 17,548 1,004,136

Total Expenses 5,106,766 5,403,749 4,001,524 3,959,851 -41,673 5,426,173


Other Economic Flows - Included in the Operating Result

Dividends (Market Gains on Land Sales) 11,924 62,014 22,995 22,995 - 68,567

Net Land Revenue (Undeveloped Land Value) 91,721 94,092 1,187 19,150 17,962 86,305

Net Gain/(Loss) on Sale/(Disposal) of Non-Financial Assets

-85,485 -1,513 -3,515 -11,111 -7,596 -1,513


-5,430 163,566 172,664 212,943 40,278 232,108

Doubtful Debts -10,276 -6,887 -4,999 -5,702 -703 -6,887 Operating Result -319,226 -34,293 -113,853 40,902 154,755 88,305


Australian Capital Territory General Government Sector

Operating Statement

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Other Economic Flows – Other Comprehensive Income

Items that will not be Subsequently Reclassified to Profit or Loss

Payments to ACT Government Agencies -32,846 -21,855 N/A -28,643 N/A -23,855 Capital Distributions 6,335 89,667 N/A 15,632 N/A 47,092 Superannuation Actuarial Gain/(Loss) -1,876,734 3,815,947 N/A 4,843,873 N/A 4,843,871 Prior Year Adjustment 40,217 - N/A -6,240 N/A - Other Movements -49 889 N/A - N/A 889

Increase/(Decrease) in the Asset Revaluation Surplus

65,926 17,993 N/A -13,560 N/A 126,385

Transfer of Assets to the Public Trading Entities Sector

-36,136 - N/A -72,020 N/A -236,400

Increase/Decrease in Other Reserves 300 - - - - - Items that may be Subsequently

Reclassified to Profit or Loss

Increase/(Decrease) in Net Assets of Public Trading Entities

275,740 247,651 N/A 138,435 N/A 300,777

Total Comprehensive Income -1,876,472 4,115,999 N/A 4,918,378 N/A 5,147,064 UPF Net Operating Balance -321,680 -345,565 -302,186 -197,373 104,813 -290,275

less Net Acquisition of Non-Financial Assets Payments for Non-Financial Assets 790,248 934,387 704,118 495,827 -208,291 930,172 Sales of Non-Financial Assets -65,194 -299,893 -223,247 -142,754 80,493 -285,247 Land Revenue (Net Cash Receipts) -79,356 -51,312 - -29,791 -29,791 -55,320 Depreciation and Amortisation -367,433 -372,680 -285,250 -282,169 3,081 -371,698 Other Movements in Non-Financial Assets 66,936 155,410 1,215 3,907 2,692 155,410

Total Net Acquisition of Non-Financial Assets 345,201 365,912 196,836 45,020 -151,815 373,317

Net Lending / (Borrowing) -666,881 -711,477 -499,022 -242,394 256,628 -663,592

GOVERNMENT FISCAL MEASURE – OPERATING SURPLUS/(DEFICIT)


Superannuation Return Adjustment 147,992 163,566 128,109 114,309 -13,800 170,812

HEADLINE NET OPERATING BALANCE -173,688 -181,999 -174,077 -83,064 91,013 -119,463



Balance Sheet

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000


$’000 Financial Assets

Cash and Deposits 659,575 326,812 586,876 365,527 Advances Paid 1,608,017 1,717,094 1,592,875 1,713,980 Investments and Loans 4,126,405 4,196,927 4,406,420 4,282,820 Receivables 618,648 637,412 727,907 792,753 Equity - Investments in Other Public Sector Entities 6,311,764 6,443,155 6,450,199 6,612,541

Total Financial Assets 13,324,409 13,321,400 13,764,277 13,767,621 Non-Financial Assets

Produced Assets

Property, Plant and Equipment 11,571,758 11,610,181 11,425,373 11,720,326 Investment Properties 5,410 2,600 5,410 5,410 Intangibles 61,901 98,998 55,764 93,796

Inventories 17,650 15,734 20,163 17,715

Assets Held for Sale 54,258 50 192,923 54,258

Capital Works-in-Progress 707,292 973,167 894,355 959,247

Non Produced Assets

Property, Plant and Equipment 2,947,894 3,164,004 2,908,864 3,007,497 Loose-Fill Asbestos Insulation Eradication Scheme Land 368,000 262,332 179,670 262,332 Biological Assets 28,476 26,516 28,513 24,490

Total Non-Financial Assets 15,762,640 16,153,582 15,711,035 16,145,071

Total Assets 29,087,049 29,474,982 29,475,312 29,912,679 Liabilities

Deposits Held 15,842 17,195 15,842 16,843

Advances Received 1,075,689 1,071,835 1,075,689 1,071,835

Borrowings

Finance Leases 2,608 3,292 3,346 5,607

Other Borrowings 3,511,086 3,606,518 3,459,204 3,579,970 Superannuation 10,719,228 6,253,375 6,158,593 6,245,724 Employee Benefits 651,526 633,714 664,267 679,483

Other Provisions 227,425 343,285 200,317 261,812

Payables 466,610 440,711 547,830 488,319

Other Liabilities 8,560 4,826 23,372 7,546 Total Liabilities 16,678,574 12,374,751 12,148,458 12,357,139 Net Assets 12,408,475 17,100,231 17,326,854 17,555,540

Equity in Public Trading Entities 6,311,764 6,443,155 6,450,199 6,612,541 Accumulated Funds 707,685 5,289,758 5,501,145 5,427,587 Asset Revaluation Surplus 5,388,227 5,366,818 5,374,710 5,514,612 Other Reserves 800 500 800 800

Net Worth 12,408,475 17,100,231 17,326,854 17,555,540 Net Financial Worth -3,354,164 946,649 1,615,819 1,410,482

Net Financial Liabilities 9,665,928 5,496,506 4,834,380 5,202,059

Net Debt (Including Superannuation Related Investments) -1,788,772 -1,541,993 -2,032,091 -1,688,072

Net Debt (Excluding Superannuation Related Investments) 1,646,475 2,080,158 1,644,542 2,001,669



Statement of Changes in Equity

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000


$’000 Opening Equity Opening Equity in Public Trading Entities 6,036,024 6,195,504 6,311,764 6,311,764

Opening Accumulated Funds 2,926,370 1,675,803 707,685 707,685

Opening Asset Revaluation Surplus 5,322,054 5,348,825 5,388,227 5,388,227 Opening Other Reserves 500 500 800 800

Opening Balance 14,284,948 13,220,632 12,408,476 12,408,476

Comprehensive Income Included in Accumulated Funds:

Operating Result for the Period -319,226 -34,293 40,902 88,305 Payments to ACT Government Agencies -32,846 -21,855 -28,643 -23,855 Capital Distributions 6,335 89,667 15,632 47,092 Transfer of Assets to the Public Trading Entities Sector -36,136 - -72,020 -236,400 Superannuation Actuarial Gain/(Loss) -1,876,734 3,815,947 4,843,873 4,843,871 Prior Year Adjustment 40,217 - -6,240 - Other Movements -49 889 - 889

Included in Equity in Public Trading Entities: Increase/(Decrease) in Net Assets of Public Trading Entities 275,740 247,651 138,435 300,777

Included in Asset Revaluation Surplus: Increase/(Decrease) in Asset Revaluation Surplus 65,926 17,993 -13,560 126,385

Included in Other Reserves: Increase/(Decrease) in Other Reserves 300 - - -

Total Comprehensive Income -1,876,472 4,115,999 4,918,378 5,147,064

Other Transfer to/(from) Accumulated Funds -246 - -44 - Movement in Asset Revaluation Surplus 246 - 44 - Total Other 0 0 0 0

Transactions Involving Owners Affecting Accumulated Funds Included in Accumulated Funds: Transfer of Assets to the Public Trading Entities Sector - -236,400 - - Total Transactions Involving Owners Affecting Accumulated Funds 0 -236,400 0 0

Closing Equity

Closing Equity in Public Trading Entities 6,311,764 6,443,155 6,450,199 6,612,541

Closing Accumulated Funds 707,685 5,289,758 5,501,145 5,427,587 Closing Asset Revaluation Surplus 5,388,227 5,366,818 5,374,710 5,514,612 Closing Other Reserves 800 500 800 800

Balance at the End of the Reporting Period 12,408,476 17,100,231 17,326,854 17,555,540



Cash Flow Statement

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Cash Flows from Operating Activities

Cash Receipts Taxes Received 1,494,577 1,638,504 1,228,878 1,218,724 -10,154 1,647,471 Receipts from Sales of Goods and Services 670,769 493,650 343,227 506,721 163,494 476,258

Grants/Subsidies Received 1,864,405 2,095,750 1,571,813 1,553,894 -17,918 2,071,246 Interest Receipts 131,575 114,214 80,771 95,418 14,647 115,283 Distributions from Financial Investments 27,421 36,391 22,384 24,178 1,794 29,845 Dividends and Income Tax Equivalents 301,511 361,335 226,346 262,676 36,330 315,910 Other Receipts 423,687 408,014 332,107 446,435 114,328 410,227 Total Cash Received from Operating Activities

4,913,945 5,147,858 3,805,524 4,108,046 302,522 5,066,240

Cash Payments Payments for Employees -2,247,552 -2,245,746 -1,655,774 -1,677,752 -21,978 -2,254,744 Payments for Goods and Services -1,039,752 -958,421 -720,592 -743,363 -22,771 -946,774 Grants/Subsidies Paid -926,063 -1,004,905 -798,203 -822,344 -24,141 -1,010,029 Interest Paid -169,838 -186,570 -134,628 -81,806 52,822 -180,066 Other Payments -467,637 -482,956 -309,806 -366,213 -56,407 -485,926

Total Cash Paid from Operating Activities -4,850,842 -4,878,598 -3,619,004 -3,691,477 -72,473 -4,877,539

Net Cash Flows from Operating Activities 63,103 269,260 186,520 416,569 230,048 188,701

Cash Flows from Investing Activities

Cash Flows from Investments in Non-Financial Assets

Sales of Non-Financial Assets 65,194 299,893 223,247 142,754 -80,493 285,247 Payments for Non-Financial Assets -790,248 -934,387 -704,118 -495,827 208,291 -930,172

Net Cash Flows from Investments in Non-Financial Assets

-725,054 -634,494 -480,871 -353,073 127,798 -644,925

Cash Flows from Investments in Financial Assets for Policy Purposes Cash Receipts

Repayment of Loans 1,000 308 231 269 38 308 Capital Distributions - 95,002 45,964 - -45,964 61,285 Dividends - Market Gains on Land Sales 11,924 62,014 22,995 22,995 - 68,567 Total Cash Received from Investment in

Financial Assets for Policy Purposes 12,924 157,324 69,190 23,264 -45,926 130,160

Cash Payments Issue of Loans - -62 - - - -62 Capital Payments to Government

Agencies -32,846 -21,855 -16,391 -14,011 2,380 -23,855

Total Cash Paid from Investments in Financial Assets for Policy Purposes

-32,846 -21,917 -16,391 -14,011 2,380 -23,917

Net Cash Flows from Investments in Financial Assets for Policy Purposes

-19,922

135,407 52,799 9,253 -43,546 106,243

Cash Flows from Investments in Financial Assets for Liquidity Purposes

Sales of Investments 234,564 591,241 437,485 33,704 -403,780 485,712 Payments for Investments -211,427 -371,363 -9,162 -149,959 -140,797 -388,507


23,137 219,878 428,323 -116,254 -544,577 97,205

Net Cash Flows from Investing Activities -721,838 -279,209 251 -460,074 -460,325 -441,477



Cash Flow Statement 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000

Cash Flows from Financing Activities Cash Receipts Borrowings 825,665 133,596 97,573 17,657 -79,916 130,080 Total Cash Received from Financing Activities 825,665 133,596 97,573 17,657 -79,916 130,080 Cash Payments Borrowings -254,051 -137,294 -98,105 -16,104 82,001 -133,855

Total Cash Paid from Financing Activities -254,051 -137,294 -98,105 -16,104 82,001 -133,855 Net Cash Flows from Financing Activities 571,614 -3,698 -532 1,553 2,085 -3,775

Net Increase/(Decrease) in Cash and Cash

Equivalents -87,121 -13,647 186,240 -41,953 -228,192 -256,551

Cash and Cash Equivalents at the Beginning of

Reporting Period 710,200 370,480 622,079 622,079 - 622,079

Cash and Cash Equivalents at the End of Reporting Period

622,079 356,833 808,318 580,127 -228,192 365,528

Key Fiscal Aggregates

Net Cash from Operating Activities 63,103 269,260 186,520 416,569 230,048 188,701 Investments in Non-Financial Assets -725,054 -634,494 -480,871 -353,073 127,798 -644,925

Cash Surplus (+) / Deficit (-) -661,951 -365,234 -294,350 63,496 357,846 -456,224 A positive number denotes a cash inflow, a negative sign denotes a cash outflow Derivation of ABS GFS Cash Surplus/Deficit Cash Surplus (+) / Deficit (-) -661,951 -365,234 -294,350 63,496 357,846 -456,224 Acquisitions Under Finance Leases and Similar Arrangements (a)

- -99 -74 -142 -68 -99

ABS GFS Cash Surplus (+) / Deficit (-) Including Finance and Similar Arrangements

-661,951 -365,333 -294,424 63,354 357,778 -456,323

(a) Finance leases are shown with a negative sign as they are deducted in compiling the ABS GFS cash surplus/deficit.


Australian Capital Territory Public Trading Enterprises

Operating Statement 2015-16

Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Revenue

Government Payment for Outputs 164,078 172,362 123,664 122,767 -897 178,816 Grants Revenue

Commonwealth Grants 1,598 767 575 1,261 685 767 Gains from Contributed Assets 22,972 13,585 9,430 5,051 -4,379 13,585

Sales of Goods and Services Revenue Revenue from Associates and Joint

Ventures 106,525 73,163 56,026 64,132 8,106 73,163

Other Sales of Goods and Services 427,525 436,829 324,755 319,196 -5,559 424,658 Interest Income 7,404 8,160 6,139 7,220 1,080 8,160

Distributions from Investments with the Territory Banking Account

128 - - - - -

Other Revenue

Land Revenue (Value Add Component) 497,741 489,800 244,833 211,983 -32,850 479,299

Other Revenue 14,025 9,333 7,062 11,325 4,263 27,509 Total Revenue 1,241,994 1,203,999 772,485 742,934 -29,551 1,205,957

Expenses

Employee Expenses 164,061 190,061 143,863 129,104 -14,759 188,784 Superannuation Expenses 22,390 23,898 17,989 17,710 -279 23,691 Depreciation and Amortisation 81,036 92,919 62,400 62,525 126 92,919 Interest Expenses 74,619 78,744 59,225 53,984 -5,241 77,394 Other Property Expenses (Income Tax

Expense) 124,873 125,551 69,306 84,682 15,376 151,192


Supplies and Services 185,579 225,681 167,071 148,807 -18,264 230,425 Other Operating Expenses 245,133 101,182 78,540 68,870 -9,669 59,146

Grants and Purchased Services 91,568 130,359 20,843 21,268 424 130,359 Total Expenses 989,258 968,395 619,237 586,950 -32,286 953,910

UPF Net Operating Balance 252,736 235,604 153,248 155,984 2,735 252,047

Other Economic Flows - Included in the Operating Result

Land Revenue (Market Gains on Land Sales) 17,035 88,591 32,850 32,850 - 97,953 Net Land Revenue (Underdeveloped Land

Value) 225 - -17,351 -18,279 -928 -


-3,277 -78,924 5,451 6,771 1,320 -36,349


587 312 90 78 -12 312

Doubtful Debts -2,848 -2,612 -1,933 -1,901 32 -2,612 Operating Result 264,458 242,971 172,356 175,503 3,147 311,351



Operating Statement

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000




Prior Year Adjustment 19 - N/A 1,000 N/A - Other Movements 366 - N/A - N/A - Increase/(Decrease) in the Asset Revaluation

Surplus 202,799 108,353 N/A 1,860 N/A 108,354

Items that may be Subsequently Reclassified to Profit or Loss

Increase/(Decrease) in Other Reserves -20 - N/A - N/A - Total Comprehensive Income 467,622 351,324 N/A 178,363 N/A 419,705


less Net Acquisition of Non-Financial Assets

Payments for Non-Financial Assets 184,369 172,070 127,494 99,907 -27,588 194,078 Sales of Non-Financial Assets -40,001 -33,551 -25,537 -62,305 -36,768 -33,551 Land Revenue (Net Cash Receipts) -7,936 -90,172 8,837 -12,114 -20,951 -80,313 Depreciation and Amortisation -81,036 -92,919 -62,400 -62,525 -126 -92,919 Other Movements in Non-Financial Assets -55,258 -99,476 7,810 3,129 -4,681 -99,476

Total Net Acquisition of Non-Financial Assets 138 -144,048 56,205 -33,909 -90,114 -112,181

Net Lending / (Borrowing) 252,598 379,652 97,043 189,892 92,849 364,228


HEADLINE NET OPERATING BALANCE 252,736 235,604 153,248 155,984 2,735 252,047



Balance Sheet

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000



Cash and Deposits 355,414 239,114 286,276 304,663 Investments and Loans 48,000 31,185 45,013 45,547 Receivables 158,677 143,225 197,133 165,379 Equity - Investments Accounted for Using the Equity Method

950,911 969,207 984,553 946,812


Produced Assets Property, Plant and Equipment 3,544,160 3,725,663 3,582,369 3,769,107 Investment Properties 8,634 10,111 8,703 9,615 Intangibles 41,205 23,297 13,044 41,006 Inventories 250,392 383,712 280,356 338,686 Assets Held for Sale 59,002 3,180 42,901 59,271 Capital Works-in-Progress 118,167 178,021 152,516 120,571

Non Produced Assets Property, Plant and Equipment 3,400,550 3,437,422 3,392,623 3,561,629

Other Non-Financial Assets Deferred Tax Assets - 28,167 28,891 - Other Non-Financial Assets - - 19,809 -

Total Non-Financial Assets 7,422,109 7,789,573 7,521,212 7,899,885 Total Assets 8,935,111 9,172,304 9,034,186 9,362,286 Liabilities

Advances Received 1,606,094 1,712,335 1,591,222 1,706,683 Employee Benefits 70,952 57,998 65,282 61,496 Other Provisions 247,984 533,165 240,668 178,110 Payables 147,102 59,362 161,938 65,753 Other Liabilities

Current Tax Liability 87,747 80,232 46,774 21,937 Deferred Tax Liability 400,097 37,848 422,187 400,097 Other Liabilities 63,369 248,209 55,916 315,669

Total Liabilities 2,623,346 2,729,149 2,583,987 2,749,745 Net Assets 6,311,764 6,443,155 6,450,199 6,612,541

Accumulated Funds 2,430,210 2,519,577 2,622,860 2,586,722 Asset Revaluation Surplus 3,871,734 3,913,738 3,817,519 4,015,999 Other Reserves 9,820 9,840 9,820 9,820

Net Worth 6,311,764 6,443,155 6,450,199 6,612,541 Net Financial Worth -1,110,344 -1,346,418 -1,071,013 -1,287,344 Net Debt 1,202,681 1,442,036 1,259,934 1,356,473




2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000


$’000 Opening Equity

Opening Accumulated Funds 2,323,089 2,416,190 2,430,210 2,430,210 Opening Asset Revaluation Surplus 3,703,095 3,769,474 3,871,734 3,871,734

Opening Other Reserves 9,840 9,840 9,820 9,820

Opening Balance 6,036,024 6,195,504 6,311,764 6,311,764

Comprehensive Income

Included in Accumulated Funds: Operating Result for the Period 264,458 242,971 175,503 311,351 Prior Year Adjustment - - 1,000 - Other Movements 366 - - -

Included in Asset Revaluation Surplus: Increase/(Decrease) in the Asset Revaluation Surplus 202,799 108,353 1,860 108,354

Included in Other Reserves: Increase/(Decrease) in Other Reserves -20 - - -

Total Comprehensive Income 467,622 351,324 178,363 419,705

Other

Transfer to/(from) Accumulated Funds 34,160 -35,911 56,075 -35,911 Movement in the Asset Revaluation Surplus -34,160 35,911 -56,075 35,911

Total Other 0 0 0 0

Transactions Involving Owners Affecting Accumulated Funds Included in Accumulated Funds:

Capital Injections 32,846 21,855 28,643 23,855 Capital Distributions -6,335 -78,367 -15,632 -35,792 Transfer of Assets from the General Government Sector 36,136 236,400 72,020 236,400 Dividends Approved -253,297 -283,561 -124,959 -343,391 Total Transactions Involving Owners Affecting Accumulated Funds

-190,650 -103,673 -39,929 -118,928

Closing Equity

Closing Accumulated Funds 2,430,210 2,519,577 2,622,860 2,586,722 Closing Asset Revaluation Surplus 3,871,734 3,913,738 3,817,519 4,015,999 Closing Other Reserves 9,820 9,840 9,820 9,820





Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000

Cash Flows from Operating Activities Cash Receipts Receipts from Sales of Goods and Services 1,007,770 1,061,496 539,723 537,441 -2,282 1,030,282 Grants/Subsidies Received 164,727 172,231 143,526 138,645 -4,881 178,685 Interest Receipts 7,518 7,520 5,670 7,214 1,544 7,831

Distribution from Investments with the Territory Banking Account

371 - - 307 307 -

Other Receipts 112,796 142,790 63,245 59,007 -4,239 153,777 Total Cash Received from Operating Activities 1,293,182 1,384,037 752,165 742,614 -9,550 1,370,575

Cash Payments Payments for Employees -193,227 -206,342 -155,790 -140,719 15,072 -204,858 Payments for Goods and Services -181,092 -250,219 -175,881 -159,474 16,407 -259,783 Grants/Subsidies Paid -24,715 -24,949 -15,118 -15,939 -821 -24,949 Interest Paid -77,531 -84,954 -60,446 -44,950 15,496 -76,921 Other Payments -348,657 -382,689 -310,162 -170,375 139,787 -305,419 Total Cash Paid from Operating Activities -825,223 -949,153 -717,397 -531,456 185,941 -871,930

Net Cash Flows from Operating Activities 467,959 434,884 34,768 211,159 176,391 498,645

Cash Flows from Investing Activities Cash Flows from Investments in Non-Financial Assets

Sales of Non-Financial Assets 40,001 33,551 25,537 62,305 36,768 33,551 Payments for Non-Financial Assets -184,369 -172,070 -127,494 -99,907 27,588 -194,078


-144,369 -138,519 -101,957 -37,602 64,356 -160,527


Capital Receipts from Government Agencies 32,846 21,855 14,932 14,011 -921 23,855 Total Cash Received from Investment in

Financial Assets for Policy Purposes 32,846 21,855 14,932 14,011 -921 23,855

Cash Payments Dividends – Market Gains on Land Sales -11,924 -145,716 -22,995 -22,995 0 -118,552 Total Cash Paid from Investment in

Financial Assets for Policy Purposes -11,924 -145,716 -22,995 -22,995 0 -118,552


20,922 -123,861 -8,063 -8,984 -921 -94,697


Sales of Investments 31,180 302,106 250 1,111 861 370,603 Payments for Investments -300 -349,516 0 -5,772 -5,772 -391,660

Net Cash Flows from Investments in Financial Assets for Liquidity Purposes

30,880 -47,410 250 -4,661 -4,911 -21,057

Net Cash Flows from Investing Activities -92,567 -309,790 -109,771 -51,248 58,523 -276,281


Australian Capital Territory Public Trading Enterprise


Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Cash Flows from Financing Activities

Cash Receipts Borrowings 247,921 123,300 96,225 192 -96,033 123,300 Total Cash Received from Financing Activities 247,921 123,300 96,225 192 -96,033 123,300 Cash Payments Borrowings -209,983 -75,380 -10,399 -15,590 -5,191 -75,380 Dividends Paid -195,628 -184,516 -134,824 -95,298 39,526 -104,766 Other Financing -67,555 -125,829 -104,779 -128,353 -23,574 -219,723 Total Cash Paid from Financing Activities -473,166 -385,725 -250,002 -239,241 10,761 -399,869

Net Cash Flows from Financing Activities -225,245 -262,425 -153,777 -239,049 -85,272 -276,569

Net Increase/(Decrease) in Cash and Cash Equivalents

150,148 -137,331 -228,779 -79,138 149,641 -54,205

Cash and Cash Equivalents at the Beginning of Reporting Period

253,265 406,129 403,414 403,414 - 403,414


403,414 268,798 174,634 324,276 149,642 349,209


Net Cash from Operating Activities 467,959 434,884 34,768 211,159 176,391 498,645


-144,369 -138,519 -101,957 -37,602 64,356 -160,527

Distributions Paid -263,183 -310,345 -239,603 -223,651 15,952 -324,489

Cash Surplus (+) / Deficit (-) 60,408 -13,980 -306,792 -50,094 256,698 13,629

A positive number denotes a cash inflow, a negative sign denotes a cash outflow

Derivation of ABS GFS Cash Surplus/Deficit

Cash Surplus (+) / Deficit (-) 60,408 -13,980 -306,792 -50,094 256,698 13,629 Acquisitions Under Finance Leases and Similar Arrangements (a)

- - - 75 75 -


60,408 -13,980 -306,792 -50,019 256,773 13,629



Australian Capital Territory Consolidated Total Territory


Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Revenue

Taxation Revenue 1,535,708 1,594,720 1,306,613 1,339,593 32,979 1,604,183 Grants Revenue

Commonwealth Grants 1,887,203 2,088,018 1,569,576 1,555,620 -13,956 2,063,514 Gains from Contributed Assets 24,177 63,981 4,451 4,380 -71 56,330

Sales of Goods and Services Revenue from Associates and Joint Ventures 106,525 73,163 56,026 64,132 8,106 73,163

Other Sales of Goods and Services 857,646 840,832 636,291 649,735 13,445 841,026 Interest Income 58,875 44,099 33,211 46,097 12,886 54,096 Distributions from Financial Investments 53,835 36,391 22,384 28,891 6,508 29,845

Dividend Income 51,760 50,990 36,675 39,692 3,017 48,900 Other Revenue

Land Revenue (Value Add Component) 399,173 456,725 235,894 203,043 -32,850 471,122 Other Revenue 137,785 135,456 104,163 116,187 12,024 165,659

Total Revenue 5,112,687 5,384,375 4,005,283 4,047,370 42,087 5,407,838

Expenses

Employee Expenses 2,029,928 2,082,086 1,561,812 1,525,373 -36,439 2,086,509

Superannuation Expenses Superannuation Interest Cost 315,401 315,534 220,124 220,124 - 293,498 Other Superannuation Expenses 372,308 426,099 356,411 352,649 -3,761 466,643

Depreciation and Amortisation 448,469 465,599 347,649 344,694 -2,956 464,617

Interest Expense 172,393 185,918 137,246 134,081 -3,165 185,752

Other Operating Expenses Supplies and Services 1,036,327 1,225,846 766,841 727,583 -39,258 1,222,797 Other Operating Expenses 278,468 187,123 172,536 154,738 -17,798 160,578

Grants and Purchased Services 832,577 866,927 695,022 713,180 18,159 865,621 Total Expenses 5,485,869 5,755,132 4,257,640 4,172,422 -85,218 5,746,015 UPF Net Operating Balance -373,182 -370,757 -252,357 -125,052 127,305 -338,177 Other Economic Flows - Included in the Operating Result

Land Revenue (Market Gains on Land Sales) 17,035 88,591 32,850 32,850 - 97,953 Net Land Revenue (Undeveloped Land Value) 91,721 94,092 1,187 19,150 17,962 86,305


-88,995 -80,437 1,936 -7,283 -9,220 -37,862


-4,844 163,878 172,754 213,021 40,267 232,420

Doubtful Debts -13,002 -9,499 -6,932 -7,602 -670 -9,499

Operating Result -371,267 -114,132 -50,560 125,084 175,644 31,140




Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000




Capital Distributions - 11,300 N/A - N/A 11,300 Superannuation Actuarial Gain/(Loss) -1,876,734 3,815,947 N/A 4,843,873 N/A 4,843,871

Prior Year Adjustment -5,544 - N/A -5,240 N/A - Other Movements 317 889 N/A - N/A 889 Increase/(Decrease) in the Asset Revaluation

Surplus 462,436 157,876 N/A -5,615 N/A 218,448


Increase/(Decrease) in Other Reserves 280 - N/A - N/A - Total Comprehensive Income -1,790,512 3,871,880 N/A 4,958,102 N/A 5,105,648 UPF Net Operating Balance -373,182 -370,757 -252,357 -125,052 127,305 -338,177


Payments for Non-Financial Assets 906,836 1,057,457 794,862 578,189 -216,673 1,075,250 Sales of Non-Financial Assets -105,195 -333,444 -248,784 -205,000 43,784 -318,798 Land Revenue (Net Cash Receipts) -118,078 -125,559 14,420 -33,300 -47,720 -94,810 Depreciation and Amortisation -448,469 -465,599 -347,649 -344,694 2,956 -464,617 Other Movements in Non-Financial Assets 22,985 55,934 4,451 3,680 -771 55,934

Total Net Acquisition of Non-Financial Assets 258,080 188,789 217,300 -1,125 -218,424 252,959 Net Lending / (Borrowing) -631,261 -559,546 -469,656 -123,927 345,729 -591,136

UPF Net Operating Balance -373,182 -370,757 -252,357 -125,052 127,305 -338,177 Superannuation Return Adjustment 147,992 163,566 128,109 114,309 -13,800 170,812

HEADLINE NET OPERATING BALANCE -225,190 -207,191 -124,248 -10,743 113,505 -167,365



Balance Sheet

2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000



Cash and Deposits 1,014,989 565,926 873,152 670,190 Advances Paid 69,377 67,541 69,109 70,079 Investments and Loans 4,174,385 4,226,591 4,451,432 4,327,346 Receivables 561,263 738,553 761,603 582,505 Equity - Investments Accounted for Using the Equity Method 950,911 969,207 984,553 946,812


Produced Assets Property, Plant and Equipment 15,115,918 15,335,844 15,007,742 15,489,433

Investment Properties 14,044 12,711 14,113 15,025 Intangibles 103,105 122,295 68,808 134,802 Inventories 227,489 399,446 278,777 356,401 Assets Held for Sale 113,260 3,230 235,823 113,529 Capital Works-in-Progress 825,459 1,151,188 1,046,871 1,079,818

Non Produced Assets Property, Plant and Equipment 6,348,444 6,602,336 6,285,424 6,569,126

Loose-Fill Asbestos Insulation Eradication Scheme Land 368,000 262,332 179,670 262,332 Biological Assets 28,476 26,516 64,384 24,490

Total Non-Financial Assets 23,144,195 23,915,898 23,181,613 24,044,943

Total Assets 29,915,121 30,483,716 30,321,462 30,641,875

Liabilities Deposits Held 15,842 15,694 15,842 15,842 Advances Received 1,143,144 1,134,617 1,143,144 1,134,617 Borrowings

Finance Leases 2,608 3,292 3,346 5,607 Other Borrowings 3,511,086 3,606,518 3,459,204 3,579,970

Superannuation 10,719,400 6,253,642 6,158,849 6,245,895 Employee Benefits 711,791 691,445 729,299 740,800

Other Provisions 367,997 844,740 303,742 404,246 Payables 552,340 477,614 644,485 519,353 Other Liabilities 9,268 4,655 23,803 8,253

Total Liabilities 17,033,477 13,032,217 12,481,714 12,654,583 Net Assets 12,881,644 17,451,499 17,839,746 17,987,292

Accumulated Funds 3,097,027 7,779,499 8,116,775 7,948,316 Asset Revaluation Surplus 9,773,997 9,661,660 9,712,351 10,028,356 Other Reserves 10,620 10,340 10,620 10,620

Net Worth 12,881,644 17,451,499 17,839,746 17,987,292 Net Financial Worth -10,262,551 -6,464,399 -5,341,865 -6,057,651

Net Financial Liabilities 11,213,462 7,433,606 6,326,418 7,004,463 Net Debt (Including Superannuation Related Investments) -586,071 -99,937 -772,157 -331,579

Net Debt (Excluding Superannuation Related Investments) 2,849,176 3,522,214 2,904,476 3,358,162




2015-16 Actual

$’000


$’000

2016-17 Mar YTD

Actual $’000


$’000

Opening Equity Opening Accumulated Funds 5,316,340 4,101,406 3,097,027 3,097,027 Opening Asset Revaluation Surplus 9,345,476 9,467,873 9,773,997 9,773,997 Opening Other Reserves 10,340 10,340 10,620 10,620

Opening Balance 14,672,156 13,579,619 12,881,644 12,881,644

Comprehensive Income

Included in Accumulated Funds:

Operating Result for the Period -371,267 -114,132 125,084 31,140 Capital Distributions - 11,300 - 11,300

Superannuation Actuarial Gain/(Loss) -1,876,734 3,815,947 4,843,873 4,843,871 Prior Year Adjustment -5,544 - -5,240 - Other Movements 317 889 - 889

Included in Asset Revaluation Surplus: Increase/(Decrease) in the Asset Revaluation Reserve Surplus

462,436 157,876 -5,615 218,448 Included in Other Reserves:

Increase/(Decrease) in Other Reserves 280 - - -

Total Comprehensive Income -1,790,512 3,871,880 4,958,102 5,105,648

Other

Transfer to/(from) Accumulated Funds 33,914 -35,911 56,031 -35,911 Movement in the Asset Revaluation Surplus -33,914 35,911 -56,031 35,911

Total Other 0 0 0 0

Closing Equity

Closing Accumulated Funds 3,097,027 7,779,499 8,116,775 7,948,316

Closing Asset Revaluation Surplus 9,773,997 9,661,660 9,712,351 10,028,356 Closing Other Reserves 10,620 10,340 10,620 10,620





Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Cash Flows from Operating Activities

Cash Receipts Taxes Received 1,453,950 1,601,274 1,200,955 1,190,618 -10,338 1,610,737 Receipts from Sales of Goods and Services 1,419,068 1,378,932 815,879 910,272 94,393 1,335,073 Grants/Subsidies Received 1,866,309 2,096,517 1,572,388 1,555,095 -17,293 2,072,013 Interest Receipts 65,732 36,391 33,808 60,000 26,191 51,079 Distributions from Financial Investments 27,421 42,879 22,384 24,178 1,794 29,845 Dividends 54,404 51,699 36,675 39,986 3,311 49,737 Other Receipts 496,329 502,880 366,355 480,205 113,850 523,038 Total Cash Received from Operating

Activities 5,383,213 5,710,572 4,048,445 4,260,354 211,909 5,671,522

Cash Payments Payments for Employees -2,430,030 -2,437,075 -1,798,843 -1,811,521 -12,677 -2,444,583 Payments for Goods and Services -1,110,356 -1,111,962 -809,962 -813,116 -3,154 -1,118,209 Grants/Subsidies Paid -794,106 -873,743 -699,237 -721,999 -22,763 -872,413 Interest Paid -173,633 -192,669 -136,945 -83,816 53,129 -185,263 Other Payments -660,081 -750,324 -507,037 -443,370 63,667 -737,508 Total Cash Paid from Operating Activities -5,168,206 -5,365,773 -3,952,024 -3,873,822 78,202 -5,357,976

Net Cash Flows from Operating Activities 215,007 344,799 96,421 386,532 290,111 313,546 Cash Flows from Investing Activities Cash Flows from Investments in Non-Financial Assets

Sales of Non-Financial Assets 105,195 333,444 248,784 205,000 -43,784 318,798 Payments for Non-Financial Assets -906,836 -1,057,457 -794,862 -578,189 216,673 -1,075,250


-801,641 -724,013 -546,078 -373,189 172,889 -756,452

Cash Flows from Investments in Financial Assets for Policy Purposes

Cash Receipts Repayment of Loans 1,000 308 231 269 38 308 Capital Distributions - 11,300 8,475 - -8,475 11,300 Total Cash Received from Investments

in Financial Assets for Policy Purposes 1,000 11,608 8,706 269 -8,437 11,608

Cash Payments Issue of Loans - -62 - - - -62 Total Cash Paid from Investments in

Financial Assets for Policy Purposes - -62 - - - -62


1,000 11,546 8,706 269 -8,437 11,546


Sales of Investments 229,014 891,915 437,845 34,815 -403,030 873,172 Payments for Investments -93,513 -719,447 -9,103 -155,672 -146,569 -796,713


135,501 172,468 428,742 -120,857 -549,599 76,459

Net Cash Flows from Investing Activities -665,140 -539,999 -108,630 -493,777 -385,147 -668,447




Actual

$’000


$’000

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


$’000


$’000 Cash Flows from Financing Activities

Cash Receipts

Borrowings 617,766 110,308 80,017 192 -79,825 106,672 Total Cash Received from Financing Activities 617,766 110,308 80,017 192 -79,825 106,672 Cash Payments Borrowings -8,106 -66,086 714 -14,038 -14,752 -62,527 Total Cash Paid from Financing Activities -8,106 -66,086 714 -14,038 -14,752 -62,527

Net Cash Flows from Financing Activities 609,660 44,222 80,731 -13,845 -94,576 44,145 Net Increase/(Decrease) in Cash and Cash Equivalents

159,527 -150,978 68,522 -121,091 -189,613 -310,756


866,966 776,609 1,025,493 1,025,493 - 1,025,493


1,025,493 625,631 1,094,014 904,402 -189,612 714,737


Net Cash from Operating Activities 215,007 344,799 96,421 386,532 290,111 313,546 Investments in Non-Financial Assets -801,641 -724,013 -546,078 -373,189 172,889 -756,452

Cash Surplus (+) / Deficit (-) -586,634 -379,214 -449,657 13,343 463,000 -442,906


Cash Surplus (+) / Deficit (-) -586,634 -379,214 -449,657 13,343 463,000 -442,906 Acquisitions Under Finance Leases and Similar Arrangements (a)

- -99 -74 -217 -143 -99


-586,634 -379,313 -449,731 13,125 462,856 -443,005


Consolidated Financial Report Attachment C

Attachment C

March Quarter Financial Statements



Operating Statement

2016-17 Mar Qtr Budget

$’000

2016-17 Mar Qtr

Actual $’000

Revenue

Taxation Revenue 273,431 293,755 Grants Revenue

Commonwealth Grants 523,022 548,935 Gains from Contributed Assets 405 3,225

Sales of Goods and Services 124,251 128,885 Interest Income 34,936 33,428 Distributions from Financial Investments 7,461 12,465 Dividend and Income Tax Equivalents Income 30,731 25,698 Other Revenue 33,124 28,623

Total Revenue 1,027,362 1,075,013 Expenses

Employee Expenses 461,203 452,849 Superannuation Expenses

Superannuation Interest Cost 73,375 73,375 Other Superannuation Expense 115,964 114,768

Depreciation and Amortisation 98,213 98,260 Interest Expense 46,754 45,455


Supplies and Services 163,567 186,287

Other Operating Expenses 49,289 49,499 Grants and Purchased Services 316,903 310,206

Total Expenses 1,325,268 1,330,697

UPF Net Operating Balance -297,907 -255,684

Other Economic Flows – Included in the Operating Result

Dividends (Market Gains on Land Sales) - -

Net Land Revenue (Undeveloped Land Value) -20,149 8,408


-2,648 -8,855


53,778 69,976

Doubtful Debts -1,649 -3,390 Operating Result -268,575 -189,545



Operating Statement

2016-17 Mar Qtr Budget

$’000

2016-17 Mar Qtr

Actual $’000

Other Economic Flows – Other Comprehensive Income Items that will not be Subsequently Reclassified to Profit or Loss

Payments to ACT Government Agencies N/A -20,341 Capital Distributions N/A 14,632 Superannuation Actuarial Gain/Loss N/A - Prior Year Adjustment N/A -163,766 Increase/(Decrease) in the Asset Revaluation Surplus

N/A -1,292

Transfer of Assets to the Public Trading Entities Sector

N/A -39,089


Increase/(Decrease) in Net Assets of Public Trading Entities

N/A 60,849

Total Comprehensive Income N/A -338,551 UPF Net Operating Balance -297,907 -255,684

Payments for Non-Financial Assets 342,376 209,635 Sales of Non-Financial Assets -131,689 -60,873 Land Revenue (Net Cash Receipts) - -1,186 Depreciation and Amortisation -98,213 -98,260 Other Movements in Non-Financial Assets 405 2,833

Total Net Acquisition of Non-Financial Assets 112,879 52,150

Net Lending / (Borrowing) -410,786 -307,834

GOVERNMENT FISCAL MEASURE - OPERATING SURPLUS/(DEFICIT)

UPF Net Operating Balance -297,907 -255,008

Superannuation Return Adjustment 42,703 32,963

HEADLINE NET OPERATING BALANCE -255,204 -222,045



Cash Flow Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000

Cash Flows from Operating Activities Cash Receipts Taxes Received 409,626 343,077 Receipts from Sales of Goods and Services 102,366 152,820 Grants/Subsidies Received 541,679 547,974 Interest Receipts 29,070 17,570 Distributions from Financial Investments 7,461 3,452 Dividends 39,211 25,530 Other Receipts 94,878 132,980 Total Cash Received from Operating Activities

1,224,292 1,223,403

Cash Payments Payments for Employees -545,045 -526,987 Payments for Goods and Services -192,631 -157,921 Grants/Subsidies Paid -446,849 -312,211 Interest Paid -45,000 -8,939 Other Payments -103,162 -96,760

Total Cash Paid from Operating Activities -1,332,687 -1,102,817 Net Cash Flows from Operating Activities -108,395 120,586 Cash Flows from Investing Activities Cash Flows from Investments in Non-Financial Assets

Sales of Non-Financial Assets 131,689 60,873 Payments for Non-Financial Assets -342,376 -209,635


-210,687 -148,762

Cash Flows from Investments in Financial Assets for Policy Purposes

Cash Receipts Repayment of Loans 76 55 Capital Receipts from Government Agencies -1,537 - Total Cash Received from Investment in

Financial Assets for Policy Purposes -1,461 55

Cash Payments Capital Payments to Government Agencies -5,463 -5,709

Total Cash Paid from Investments in Financial Assets for Policy Purposes

-5,463 -5,709


-6,924 -5,655


Sales of Investments 203,478 14,290 Payments for Investments -9,334 -45,417


194,144 -31,127

Net Cash Flows from Investing Activities -23,467 -185,544




Mar YTD Budget

$’000

2016-17 Mar YTD

Actual $’000

Cash Flows from Financing Activities

Cash Receipts Borrowings 31,263 5,367 Total Cash Received from Financing Activities

31,263 5,367

Cash Payments Borrowings -31,530 -4,911 Total Cash Paid from Financing Activities

-31,530 -4,911

Net Cash Flows from Financing Activities -267 456


-132,130 -64,502

Cash and Cash Equivalents at the

Beginning of Reporting Period 940,448 591,573


808,318 527,071


Net Cash from Operating Activities -108,395 120,586 Investments in Non-Financial Assets -210,687 -148,762

Cash Surplus (+) / Deficit (-) -319,082 -28,176 A positive number denotes a cash inflow, a negative sign denotes a cash outflow. Derivation of ABS GFS Cash Surplus/Deficit Cash Surplus (+) / Deficit (-) -319,082 -28,176 Acquisitions Under Finance Leases and Similar Arrangements (a)

-24 -17


-319,106 -28,193




Operating Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000

Revenue

Government Payment for Outputs 35,594 34,791 Grants Revenue

Commonwealth Grants -153 428 Gains from Contributed Assets 2,451 1,493 Sales of Goods and Services Revenue

Revenue from Associates and Joint Ventures

18,675 16,129

Other Sales of Goods and Services 106,423 117,502 Interest Income 1,999 1,825 Other Revenue

Land Revenue (Value Add Component) 33,377 12,407

Other Revenue 2,293 3,354 Total Revenue 200,659 187,930 Expenses

Employee Expenses 47,959 44,516 Superannuation Expenses

Other Superannuation Expenses 6,048 6,189 Depreciation and Amortisation 18,788 19,186 Interest Expenses 19,453 18,741 Other Property Expenses (Income Tax

Expense) 10,749 8,436


Supplies and Services 57,038 51,967 Other Operating Expenses 16,036 33,571

Grants and Purchased Services 6,799 4,830 Total Expenses 182,869 187,437

UPF Net Operating Balance 17,789 493 Other Economic Flows – Included in the Operating Result

Net Land Revenue (Undeveloped Land Value) -1,168 -1,401 Net Gain/(Loss) on Sale/(Disposal) of Non-Financial Assets

3,099 5,220


30 39

Doubtful Debts -628 -469 Operating Result 19,123 3,882



Operating Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000

Other Economic Flows – Other Comprehensive Income


Increase/(Decrease) in the Asset Revaluation Surplus

N/A 4,139

Total Comprehensive Income N/A 8,021

UPF Net Operating Balance 17,789 493


Payments for Non-Financial Assets 40,829 31,500 Sales of Non-Financial Assets -10,739 -11,794 Land Revenue (Net Cash Receipts) 12,830 -8,824 Depreciation and Amortisation -18,788 -19,186 Other Movements in Non-Financial Assets 2,092 1,527

Total Net Acquisition of Non-Financial Assets 26,223 -6,777

Net Lending / (Borrowing) -8,434 7,269

UPF Net Operating Balance 17,789 493

HEADLINE NET OPERATING BALANCE 17,789 493




Mar YTD Budget

$’000

2016-17 Mar YTD

Actual $’000

Cash Flows from Operating Activities

Cash Receipts Receipts from Sales of Goods and Services 124,261 122,591 Grants/Subsidies Received 43,525 39,156 Interest Receipts 1,848 1,775 Other Receipts 21,513 26,694 Total Cash Received from Operating Activities

191,147 190,216

Cash Payments Payments for Employees -49,994 -42,795 Payments for Goods and Services -48,860 -41,458 Grants/Subsidies Paid -5,068 -5,305 Interest Paid -20,149 -10,962 Other Payments -82,510 -54,423 Total Cash Paid from Operating Activities -206,581 -154,944

Net Cash Flows from Operating Activities -15,435 35,272

Cash Flows from Investing Activities Cash Flows from Investments in Non-Financial Assets



-30,090 -19,706


Capital Receipts from Government Agencies

5,003 5,709

Total Cash Received from Investment in Financial Assets for Policy Purposes

5,003 5,709


5,003 5,709


Sales of Investments 546 861 Payments for Investments -545 -6,317


1 -5,456




Cash Flow Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


Cash Receipts Borrowings 32,075 58 Total Cash Received from Financing Activities 32,075 58 Cash Payments Borrowings -3,466 -3,828 Dividends Paid -19,939 -125 Other Financing -12,172 -10,135 Total Cash Paid from Financing Activities -35,577 -14,088

Net Cash Flows from Financing Activities -3,502 -14,030


-44,023 1,788


-1,148 149,569


-45,171 151,357


Net Cash from Operating Activities -15,435 35,272 Net Cash Flows from Investments in

Non-Financial Assets -30,090 -19,706

Distributions Paid -32,111 -10,260

Cash Surplus (+) / Deficit (-) -77,636 5,306 A positive number denotes a cash inflow, a negative sign denotes a cash outflow.


Cash Surplus (+) / Deficit (-) -77,636 5,306 Acquisitions Under Finance Leases and Similar Arrangements (a)

- -75


-77,636 5,381




Operating Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000

Revenue

Taxation Revenue 270,186 290,861 Grants Revenue

Commonwealth Grants 522,869 549,363 Gains from Contributed Assets 1,484 3,223

Sales of Goods and Services Revenue from Associates and Joint Ventures 18,675 16,129

Other Sales of Goods and Services 213,670 224,161 Interest Income 17,278 16,269 Distributions from Financial Investments 7,461 12,465

Dividend Income 12,225 16,020 Other Revenue

Land Revenue (Value Add Component) 32,615 11,645 Other Revenue 30,580 29,298

Total Revenue 1,127,042 1,169,434 Expenses

Employee Expenses 508,394 497,488

Superannuation Expenses Superannuation Interest Cost 73,375 73,375 Other Superannuation Expenses 119,956 118,755

Depreciation and Amortisation 117,002 117,446

Interest Expense 46,421 45,122

Other Operating Expenses Supplies and Services 222,362 229,718 Other Operating Expenses 55,667 68,744

Grants and Purchased Services 287,339 280,079 Total Expenses 1,430,516 1,430,726 UPF Net Operating Balance -303,473 -261,292 Other Economic Flows – Included in the Operating Result

Net Land Revenue (Undeveloped Land Value) -20,149 8,408


451 -6,578


53,808 70,015

Doubtful Debts -2,277 -3,859 Operating Result -271,640 -193,306



Operating Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000

Other Economic Flows – Other Comprehensive Income Items that will not be Subsequently Reclassified to Profit or Loss

Prior Year Adjustment N/A -163,766 Increase/(Decrease) in the Asset Revaluation

Surplus N/A -3,399

Total Comprehensive Income N/A -353,673 UPF Net Operating Balance -303,473 -261,292

less Net Acquisition of Non-Financial Assets Payments for Non-Financial Assets 370,954 242,500 Sales of Non-Financial Assets -142,428 -72,657 Land Revenue (Net Cash Receipts) 9,941 -12,136 Depreciation and Amortisation -117,002 -117,446 Other Movements in Non-Financial Assets 1,484 3,217

Total Net Acquisition of Non-Financial Assets 122,949 43,479 Net Lending / (Borrowing) -426,422 -304,771

UPF Net Operating Balance -303,473 -261,292 Superannuation Return Adjustment 42,703 32,963

HEADLINE NET OPERATING BALANCE -260,770 -228,329




Mar YTD Budget

$’000

2016-17 Mar YTD

Actual $’000

Cash Flows from Operating Activities

Cash Receipts Taxes Received 400,319 340,193 Receipts from Sales of Goods and Services 213,783 248,981 Grants/Subsidies Received 541,870 548,381 Interest Receipts 12,923 10,021 Distributions from Financial Investments 7,461 3,452 Dividends 12,225 10,799 Other Receipts 110,294 155,309 Total Cash Received from Operating Activities

1,298,875 1,317,137

Cash Payments Payments for Employees -590,852 -567,578 Payments for Goods and Services -165,213 -174,032 Grants/Subsidies Paid -413,897 -283,360 Interest Paid -46,639 -10,577 Other Payments -165,630 -134,626 Total Cash Paid from Operating Activities -1,382,232 -1,170,174

Net Cash Flows from Operating Activities -83,357 146,963 Cash Flows from Investing Activities Cash Flows from Investments in Non-Financial Assets



-228,527 -169,844

Cash Receipts Repayment of Loans 76 55 Capital Distributions from Government Agencies 2,825 0 Total Cash Received from Investments

in Financial Assets for Policy Purposes 2,901 55


2,901 55


Sales of Investments 204,088 15,151 Payments for Investments -9,868 -51,723


194,221 -36,572




Cash Flow Statement

2016-17 Mar YTD

Budget $’000

2016-17 Mar YTD

Actual $’000


Cash Receipts Borrowings 25,589 58 Total Cash Received from Financing Activities 25,589 58 Cash Payments Borrowings 1,693 -3,372 Total Cash Paid from Financing Activities 1,693 -3,372

Net Cash Flows from Financing Activities 27,282 -3,314 Net Increase/(Decrease) in Cash and Cash Equivalents

-87,480 -62,713


1,181,495 967,116


1,094,015 904,403


Net Cash from Operating Activities -83,357 146,963 Investments in Non-Financial Assets -228,527 -169,844

Cash Surplus (+) / Deficit (-) -311,884 -22,881


Cash Surplus (+) / Deficit (-) -311,884 -22,881 Acquisitions Under Finance Leases and Similar Arrangements (a)

-24 -42


-311,908 -22,923

(a) Finance leases are shown with a negative sign as they are deducted in compiling the ABS GFS cash surplus/deficit .

Consolidated Financial Report Attachment D

Attachment D

Agency Year to Date Revenues and Expenses


General Government Sector – Controlled

Financial Year to Date Ending 31 March 2017

Budget Income

$’000

Budget Expenses

$’000

Budget Result $’000

Actual Income

$’000

Actual Expenses

$’000

Actual Result $’000

Variance Income

$’000

Variance Expenses

$’000

Variance Result $’000

ACT Compulsory Third-Party Insurance Regulator 380 380 - 380 380 - - - - ACT Gambling and Racing Commission 44,597 44,729 -132 44,597 44,729 -132 - - - ACT Insurance Authority 46,653 46,018 635 49,711 52,384 -2,673 3,058 6,366 -3,308 ACT Local Hospital Network 786,335 759,307 27,028 792,652 765,580 27,072 6,317 6,273 44 ACT Public Cemeteries Authority 3,651 3,867 -216 3,651 3,867 -216 - - - Auditor-General 5,207 5,366 -160 5,207 5,366 -160 - - - Canberra Institute of Technology 79,574 81,008 -1,434 80,937 81,716 -778 1,364 708 656 Chief Minister, Treasury and Economic Development Directorate 479,068 491,171 -12,103 510,633 532,034 -21,401 31,565 40,863 -9,298 Community Services Directorate 204,212 205,306 -1,095 210,843 215,941 -5,098 6,631 10,635 -4,004 Cultural Facilities Corporation 12,067 13,993 -1,927 12,067 13,993 -1,927 - - - Education Directorate 476,627 526,461 -49,834 478,964 527,634 -48,670 2,337 1,173 1,164 Electoral Commissioner 6,617 6,333 284 6,617 6,333 284 - - - Environment, Planning and Sustainable Development Directorate 84,581 71,902 12,679 146,913 142,568 4,345 62,332 70,666 -8,334 Health Directorate 917,349 990,228 -72,879 927,105 945,587 -18,483 9,756 -44,641 54,396 Independent Competition and Regulatory Commission 1,355 1,319 37 1,355 1,319 37 - - - Justice and Community Safety Directorate 215,857 236,626 -20,769 218,366 231,028 -12,661 2,510 -5,598 8,108 Legal Aid Commission (ACT) 10,477 10,808 -330 10,477 10,808 -330 - - - Office of the Legislative Assembly 6,908 7,118 -210 6,908 7,118 -210 - - - Public Trustee and Guardian (for the ACT) 5,237 4,987 249 5,237 4,987 249 - - - Transport Canberra and City Services Directorate 242,825 358,197 -115,373 246,047 360,564 -114,517 3,222 2,367 855


General Government Sector – Territorial Financial Year to Date Ending 31 March 2017

Budget Income

$’000

Budget Expenses

$’000


Actual Income

$’000

Actual Expenses

$’000


Variance Income

$’000

Variance Expenses

$’000


ACT Executive 7,706 7,848 -142 7,706 7,848 -142 - - - Chief Minister, Treasury and Economic Development Directorate 2,903,511 2,899,111 4,400 2,902,453 2,898,013 4,440 -1,059 -1,098 40 Education Directorate 275,145 275,145 - 269,653 269,704 -51 -5,492 -5,441 -51 Electoral Commissioner - - - 130 - 130 130 130 Environment, Planning and Sustainable Development Directorate 22,211 22,491 -280 28,880 28,880 - 6,670 6,390 280 Health Directorate 2,104 2,081 23 2,066 2,054 13 -37 -27 -10 Justice and Community Safety Directorate 128,059 130,129 -2,070 131,213 132,613 -1,401 3,154 2,485 669 Lifetime Care and Support Fund 11,136 11,068 68 11,136 11,068 68 - - - Office of the Legislative Assembly 7,179 8,137 -958 7,179 8,137 -958 - - - Superannuation Provision Account 248,523 460,664 -212,141 334,763 497,702 -162,940 86,240 37,038 49,201 Transport Canberra and City Services Directorate 13,092 13,092 12,484 12,484 - -608 -608 - Territory Banking Account 3,313,164 3,698,220 -385,056 2,775,162 3,322,161 -546,999 -538,002 -376,059 -161,943


Public Trading Enterprises Sector - Controlled Financial Year to Date Ending 31 March 2017

Budget Income

$’000

Budget Expenses

$’000


Actual Income

$’000

Actual Expenses

$’000


Variance Income

$’000

Variance Expenses

$’000


Icon Water Limited 314,667 253,594 61,073 315,262 238,914 76,348 595 -14,680 15,275 ACTION 106,417 115,959 -9,542 105,233 111,906 -6,673 -1,184 -4,053 2,869 CIT Solutions Pty Ltd 14,846 15,515 -669 14,846 15,515 -669 - - - Housing ACT 101,593 128,467 -26,875 108,049 124,944 -16,895 6,457 -3,524 9,980 Land Development Agency 237,181 136,815 100,366 253,108 128,149 124,959 15,927 -8,666 24,593

Consolidated Financial Report Attachment E

Attachment E

Signed Financial Instruments

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