Budget 2012-2013 Budget Paper No.3 The Budget
Tabled paper 1785
Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT
Tabled By Delia Lawrie
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
5 Overview Outputs, Business Lines and Performance This section is structured so that detailed information on each output group is provided in the form of output statements (business line statements for government business divisions). These statements describe outcomes, outputs and keyvariations in output costs between the published 201112 Budget figures, the revised 201112 Estimate, and the 201213 Budget. For government business divisions, this section describes financial performance that focuses on key variations between the years. Keydeliverables are listed for the outputs, with estimates identified for each measure. To enable meaningful comparisons where measures have changed, agencies and business divisions have recast key deliverables and estimates to be on a basis consistent with information presented for 201213. Where measures have been modified and 201112 data is not available, no estimate is provided. Output group expense figures and key variations are presented within each output group statement. Key deliverables are focused on presenting measures that are meaningful, nationally consistent and most relevant to assessing the achievement of the output. Financial Statements A set of financial statements Operating Statement, Balance Sheet and Cash Flow Statement is presented on an accrual basis for each agency and government business division for both 201112 and 201213. Operating Statement presents an agencys expenses, revenues, gains and net result. It excludes payments and receipts of a capital nature, as these only impact the Balance Sheet and Cash Flow Statement. With appropriation covering only cash costs, most agencies will show a deficit due to their depreciation and amortisation expenses being unfunded. Agencies may also show a surplus or deficit in relation to the transfer of expenditure between years due to the treatment of these timing differences in the Accounting Standards. Therefore, where revenue is received in one year but not spent until the following financial year, a surplus will be shown in the first year and a deficit in the second. This surplus or deficit is either offset or increased by the depreciation expense. Balance Sheet presents an agencys expected assets and liabilities and records the net assets, or equity, of the agency at the end of the year. Deficits (as recorded in the Operating Statement) will reduce the equity position over time, while surplus results will increase equity. Cash Flow Statement presents the movement of cash into and out of an agency during the financial year and includes capital receipts and payments. The statement also reconciles to the agencys cash account at the end of the year, which is reported in the Balance Sheet. Community Service Obligations The Community Service Obligations (CSO) section of the Budget paper details the CSO payments made to GBDs or government owned corporation (GOCs). These payments reflect activities undertaken by GBDs and GOCs to enable the Territory Government to achieve identifiable community or social objectives, not otherwise achievable if left to economic or market forces. The requirement for CSOs is reviewed on an annual basis.
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