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APPENDIX 3 2016-17 ESTIMATED OUTCOME INCLUDING MARCH QUARTERLY REPORT

Key Issues

The Estimated Outcome information presented in this appendix reflects financial estimates available to Treasury at the time of the finalisation of the Budget Papers and includes agency assessments of funding requirements, current estimates of State taxation and information available from the Australian Government and Government Businesses.

This appendix also meets the information requirements for a March Quarterly Report as specified in Section 26C of the Financial Management and Audit Act 1990. It presents financial results for the nine months ending 31 March 2017 for the General Government Sector and the Consolidated Fund.

The estimated General Government Net Operating Balance for 2016-17 is a $812 million surplus, a $734.7 million improvement from the 2016-17 Budget estimate of a $77.3 million surplus. This result primarily reflects the expected receipt of a significant one-off Australian Government payment of $730.4 million for the transfer of the Mersey Community Hospital to the State which is expected to occur by 30 June 2017.

The actual General Government Net Operating Balance for the nine months to 31 March 2017 is a $166.9 million surplus.

2016-17 Estimated Outcome Including March Quarterly Report 189

INTRODUCTIONThis appendix presents the 2016-17 Estimated Outcome based on the latest available agency assessments of indicative additional funding requirements or potential savings and revised whole-of-government revenue estimates. Significant changes to revenue and expenditure estimates can occur between the preparation of these estimates and those reported in future reports on the 2016-17 Budget outcome.

Detailed information on the final Outcome for 2016-17 will be published in:

the Preliminary Outcomes Report, required to be published by 15 August 2017 in the event that the preliminary outcomes result differs materially from the Estimated Outcome published in this appendix;

the Treasurer's Annual Financial Report, which will be tabled in Parliament by 31 October 2017; and

agency Annual Reports, which will be tabled in Parliament by 31 October 2017.

This appendix also meets the information requirements for a March Quarterly Report as specified in Section 26C of the Financial Management and Audit Act 1990. It presents financial results for the nine months ending 31 March 2017 for the General Government Sector and the Consolidated Fund. These financial statements have been prepared in accordance with applicable Australian Accounting Standards including AASB 1049 Whole of Government and General Government Sector Financial Reporting. Preparation of the Report requires the application of estimation methods in accordance with the principles of AASB 134 Interim Financial Reporting.

190 2016-17 Estimated Outcome Including March Quarterly Report

GENERAL GOVERNMENT INCOME STATEMENTTable A3.1 provides details of the Estimated Outcome for 2016-17, compared to the 2016-17 Budget estimates.

Table A3.1: General Government Income Statement, 2016-172016-17)

)Budget)

2016-17)Estimated)Outcome)

2016-17)March YTD)

Actual)$m) $m) $m)

Revenue from TransactionsGrants 3 634.6) 4 371.9) 2 721.5

Taxation 1 055.6) 1 094.1) 840.0

Sales of Goods and Services 352.9) 411.2) 297.3

Fines and Regulatory Fees 96.5) 95.9) 75.7

Interest Income 16.5) 22.1) 13.0

Dividend, Tax and Rate Equivalent Income 263.8) 316.0) 239.2

Other Revenue 153.8) 188.4) 145.3

5 573.7) 6 499.6) 4 332.0

Less Expenses from TransactionsEmployee Expenses 2 311.0) 2 371.5) 1 757.0

Superannuation 284.6) 339.9) 248.8

Depreciation 264.6) 267.1) 195.0

Supplies and Consumables 1 105.9) 1 187.9) 796.4

Nominal Superannuation Interest Expense 288.2) 236.3) 178.6

Borrowing Costs 10.3) 10.4) 7.6

Grant Expenses 1 206.2) 1 243.0) 956.6

Other Expenses 25.4) 31.6) 25.2

5 496.3) 5 687.6) 4 165.1

Equals NET OPERATING BALANCE 77.3 812.0) 166.9

Plus Other Economic Flows - Included in Operating ResultGain/(Loss) on Disposal of Non-Financial Assets 10.5) 11.3) 1.0

Movement in Investments in GBEs and SOCs 19.5) 392.2 ....

Movements in Superannuation Liability ....) 2 914.6) ....

Other Gains/(Losses) ( 21.2) ( 24.7) (9.3)

8.8) 3 293.5) (8.2)

Equals Operating Result 86.1) 4 105.5) 158.6


Table A3.1: General Government Income Statement, 2016-17 (continued)

2016-17) 2016-17) 2016-17)Estimated) March YTD)

Budget) Outcome) Actual)$m) $m) $m)

Plus Other Economic Flows - Other Movements in EquityRevaluations of Non-Financial Assets 252.3) 224.9) 168.7

Other Non-Owner Movements in Equity 3.3) 8.6) 8.0

255.5) 233.5) 176.7

Equals Comprehensive Result 341.6) 4 339.0) 335.3

KEY FISCAL AGGREGATES

NET OPERATING BALANCE 77.3) 812.0) 166.9

Less Net Acquisition of Non-Financial AssetsPurchases of Non-Financial Assets 530.8) 495.3) 261.3

Less Sale of Non-Financial Assets 28.3) 29.4) 26.9

Less Depreciation 264.6) 267.1) 195.0

237.9) 198.9) 39.4

Equals FISCAL BALANCE ( 160.6) 613.1) 127.5


REVENUE VARIATIONSTotal revenue for 2016-17 is estimated to be $6 499.6 million, $926.0 million above the Budget estimate of $5 573.7 million. The major revenue variations are described in Table A3.2.

Table A3.2: Major Revenue VariationsRevenue Item Variance from Budget ReasonsGrants: $737.3 million higher

General Purpose

Payments

$44.2 million lower The decrease in General Purpose Payments funding is

a result of estimated GST receipts being revised down.

This change reflects an increase in Tasmania’s share of

the national population, offset by a $1.5 billion reduction

in the estimated GST pool available for distribution to

the states and a $4.2 million residual adjustment for

overpaid GST revenue to Tasmania in 2015-16.

Specific Purpose

Payments

$20.4 million higher The increase in Payments for Specific Purposes

primarily reflects:

an increase in Australian Government National

Health Reform Activity Based funding of

$15.7 million and National Health Reform Block

funding of $2.2 million. These changes are primarily

due to a revision of Tasmanian Health Service

activity profiles; and

an increase in Australian Government Students First

funding of $2.4 million reflecting updates in the

2016-17 Australian Government Budget.


Table A3.2: Major Revenue Variations (continued)Revenue Item Variance from Budget Reasons National Partnership

Payments

$750.1 million higher The increase in National Partnership Payments primarily

reflects additional revenue expected to be received from the

Australian Government in 2016-17 for a range of grants

which include:

the receipt of a significant one-off Australian

Government payment of $730.4 million for the transfer of

the Mersey Community Hospital to the State which is

expected to occur by 30 June 2017 (the National

Partnership on Transfer of the Mersey Community

Hospital);

Natural Disaster Relief and Recovery Arrangements

receipts of $21.1 million relating to the January 2016

Bushfires and June Flood Event. This reflects the

expected timing of receipts as at the finalisation of

Budget data;

Reducing elective surgery waiting lists in Tasmania

funding of $5.0 million;

Sustainable Rural Water Use and Infrastructure Program

funding of $3.4 million;

Public dental services for adults funding of $3.1 million;

DisabilityCare Australia Fund payments of $2.0 million;

Improving Health Services in Tasmania Schedule D

funding of $1.3 million relating to Walk-in Centres in

Hobart and Launceston; and

Tourism Growth Package Feasibility Studies funding of

$1.1 million relating to the Cradle Mountain Master Plan

($1 million); the ‘Geeves Effect’ ($70,000) and

FermenTasmania ($50,000).

This increase is partially offset by a reallocation of

$19.2 million in Road related grants funding from 2016-17 to

2017-18 reflecting the timing of projects.

Other Grants and

Subsidies

$10.9 million higher The increase in Other Grants and Subsidies primarily

reflects an increase in Australian Government funding of

$7.9 million relating to Commonwealth Own Purpose

Expenditure funding for the Department of Health and

Human Services and the Tasmanian Health Service.


Table A3.2: Major Revenue Variations (continued)Revenue Item Variance from Budget ReasonsTaxation $38.4 million higher The increase in Taxation primarily reflects:

An upwards revision in Conveyance duty receipts of

$34.3 million, due mainly to growth in residential

property prices and transaction volumes; and

an upwards revision in Land Tax of $8.3 million,

reflecting a net increase in land values across the State,

system enhancements leading to improvements in debt

management and targeted compliance efforts.

These movements are partially offset by reductions in

Betting Exchange Taxes and Levies of $3.0 million

reflecting the surrender by Betfair of its Tasmanian Gaming

Licence; and Casino Tax and Licence Fees of $2.0 million

reflecting lower than expected year-to-date revenue.

Sales of Goods and

Services

$58.3 million higher The increase in Sales of Goods and Services primarily

reflects revised estimates for the Tasmanian Health Service

comprising:

new funding of $50 million in 2016-17 associated with

the listing of Hepatitis C medications on the

Pharmaceutical Benefits Scheme; and

revised projections of Australian Government revenues

of $7.4 million primarily relating to the Child Dental

Benefit Schedule and Training More Specialists in

Tasmania Program.

Interest Income $5.6 million higher The increase in Interest Income primarily reflects projected

increases in estimated Cash and Deposits.

Dividend, Tax and Rate

Equivalent Income

$52.3 million higher The increase in Dividend, Tax and Rate Equivalent Income

reflects an increase in Dividends of $26.2 million and

Income Tax Equivalents (ITEs) of $26.1million.

The increase in Dividends primarily reflects:

a $13.1 million increase for Tasmanian Networks Pty

Ltd due to a higher profit result for 2015-16 as a result

of transmission and distribution revenues exceeding

forecasts;

a $6.1 million increase for Aurora Energy Pty Ltd as a

result of a better profit outcome primarily due to

expenditure control; and


Table A3.2: Major Revenue Variations (continued)Revenue Item Variance from Budget ReasonsDividend, Tax and Rate

Equivalent Income

(continued)

a $5.9 million increase for the Motor Accident Insurance

Board (MAIB) due to a better profit outcome for 2015-16

due to stronger investment returns and a lower claims

expense.

The increase in ITEs primarily reflects:

a $23.4 million increase for the Motor Accidents

Insurance Board as a result of higher taxable

distributions from fund managers and a lower than

expected claims expense; and

a $4.6 million increase for Hydro Tasmania as a result of

improving profit levels during the year.

The increase in ITEs was partly offset by a decrease in ITEs

of $3.7 million from Tasmanian Networks due to a lower

than expected profit outcome for 2016-17.

Other Revenue $34.6 million higher The increase in Other Revenue primarily reflects:

an increase in Department of State Growth of

$20.6 million reflecting a revised mineral royalties

estimate;

an increase in the Tasmanian Health Service of

$10 million which reflects the estimated one-off impact of

the transfer of ownership of the Mersey Community

Hospital asset value from the Australian Government to

the State Government; and

an increase in the Department of Justice of $1.7 million

associated with Working with Vulnerable People

registration.


EXPENSE VARIATIONSTotal expenses for 2016-17 are estimated to be $5 687.6 million, $191.3 million above the Budget estimate of $5 496.3 million. The major expense variations are described in Table A3.3.

Table A3.3: Major Expense VariationsExpense Item Variance from Budget ReasonsEmployee Expenses $60.5 million higher The increase in Employee Expenses primarily reflects:

an increase in the Department of Education of

$9.3 million primarily relating to a reclassification of

expenditure of $9.1 million from Supplies and

consumables to better align with actual expenditure;

an increase in the Tasmanian Health Service of

$42.2 million primarily reflecting increased National

Health Reform funding as a result of revised activity

levels and higher than budgeted employee

expenditure; and

an increase in the Department of Justice of $4 million

including:

additional costs relating to Corrective Services of

$1.8 million; and

additional expenditure relating to an increase in

revenues primarily associated with Working with

Vulnerable Persons registration.


Table A3.3: Major Expense Variations (continued)Expense Item Variance from Budget ReasonsSuperannuation $55.3 million higher The increase in Superannuation primarily reflects the latest

actuarial projection of the increase in the present value of

the defined benefit obligation resulting from employee

service in the current period.

Supplies and Consumables $82 million higher The increase in Supplies and Consumables primarily

reflects:

an increase in the Department of Health and Human

Services of $12.3 million primarily relating to higher

than budgeted expenditure for Out of Home Care of

$7.9 million, together with revised expenditure

projections of Australian Government funding of

$4.8 million;

an increase of $61 million in the Tasmanian Health

Service primarily reflecting additional expenditure

associated with listing of Hepatitis C medications on

the Pharmaceutical Benefits Scheme;

an increase in the Department of State Growth of

$10.1 million primarily reflecting:

the reclassification of $8.7 million from Purchase of

Non-Financial Assets to reflect the revised nature of

projected expenditure; and

additional expenditure of $3.3 million for restoration

costs associated with flood damage to the Mersey

Forest Road.

This is offset by the reallocation of $2.4 million in

expenditure from 2016-17 to 2017-18 reflecting the

revised timing of Advancing the Case for a Second

Interconnector (Energy Strategy) of $1.1 million and

the move of Mineral Resources Tasmania to Burnie of

$1.3 million;


Table A3.3: Major Expense Variations (continued)Expense Item Variance from Budget ReasonsSupplies and Consumables

(continued)

an increase in Marine and Safety Tasmania of

$2.4 million which primarily reflects the reallocation of

expenditure from 2015-16 to 2016-17 for a number of

Recreational Boating Fund projects; and

an increase in the Department of Premier and Cabinet

of $2.7 million primarily relating to increased

expenditure associated with additional

Telecommunications Management Division revenue

and its rollout of new technologies to clients.

These increases are partially offset by a decrease in the

Department of Education of $12.3 million which primarily

reflects:

the reclassification of expenditure to Employee

Expenses ($9.1 million) to better align with actual

expenditure; and

the reclassification of $3.8 million to Grant Expenses

to better align with actual expenditure.

Nominal Superannuation

Interest Expense

$51.9 million lower The decrease reflects the most recent actuarial

assessment of the Government’s superannuation liability,

which includes the application of the 30 June 2016 ‘spot’

discount rate of 2.7 per cent (a long-term trend rate of

4.75 per cent was used in the 2016-17 Budget) to

determine interest cost and interest income with respect

to the liability and plan assets, respectively.


Table A3.3: Major Expense Variations (continued)Expense Item Variance from Budget ReasonsGrant Expenses $36.8 million higher The increase in Grant Expenses primarily reflects:

an increase in the Department of Education of

$12.3 million including:

a reclassification of $3.8 million from Supplies and

Consumables to better align with actual expenditure;

an increase in projected expenditure of Australian

Government National Partnership funding of

$3.7 million; and

an increase in Students First - Non-Government

Schools funding of $4.8 million (State and Australian

Government funded);

an increase in the Department of Primary Industries,

Parks, Water and Environment of $6.5 million

including:

expenditure associated with the June 2016 flood

event of $5.2 million; and

expenditure to support the clean-up costs incurred by

businesses as a result of the outbreak of the Pacific

Oyster Mortality Syndrome of $1 million; and

an increase in the Department of State Growth of

$19.1 million including:

$10 million in funding for the Northern Cities Major

Development Initiative. This reflects the timing of a

payment for the initial stages of the Launceston

University of Tasmania relocation;

the reallocation of $4 million in expenditure from

2017-18 to 2016-17 for the Tasmanian Jobs and

Investment Fund;


Table A3.3: Major Expense Variations (continued)Expense Item Variance from Budget ReasonsGrant Expenses (continued) revised expenditure projections of Australian

Government funding of $5.1 million;

$1.9 million in funding for Dark Mofo reflecting the

Government’s commitment to provide $1.9 million

per annum over the next five years; and

$1.1 million in funding for an interim King Island

shipping service to the end of March 2017.

These increases are offset by the reallocation of

$3.6 million from 2016-17 to 2017-18 and $0.5 million

from 2016-17 to 2018-19 for the Academy of Creative

Industries and Performing Arts.

Other Expenses $6.2 million higher The increase in Other Expenses primarily reflects an

increase in the Tasmanian Health Service of $5.1 million

which includes the impact of an increase in National

Health Reform Activity Based and Block Funding.


OTHER ECONOMIC FLOWS - INCLUDED IN OPERATING RESULTOther economic flows - Included in the Operating Result is estimated to be an inflow of $3 293.5 million in 2016-17, which is $3 284.7 million higher than the 2016-17 Budget of an $8.8 million inflow. The major changes are detailed in Table A3.4.

Table A3.4: Other Economic Flows - Included in Operating Result Variations

Item Variance from Budget ReasonsMovement in Investments in

GBEs and SOCs

$372.7 million higher This is primarily due to an increase in forecast Net Assets

held by electricity entities of $350.8 million which primarily

reflects the impact of a revaluation of infrastructure assets.

Movements in

Superannuation Liability

$2 914.6 million higher The increase in the Superannuation liability reflects the

latest actuarial assessment. The increase primarily reflects

the difference between the discount rate applied by the

State Actuary, in accordance with Australian Accounting

Standard AASB 119 Employee Benefits, for financial

reporting purposes (2.7 per cent) and the estimated

long-term bond rate which is used for Budget purposes

(4.75 per cent).


NET ACQUISITION OF NON-FINANCIAL ASSETSNet acquisition of non-financial assets for 2016-17 is estimated to be $198.9 million, $39 million below the Budget estimate of $237.9 million. The major variations in the net acquisition of non-financial assets are described in Table A3.5.

Table A3.5: Major Net Acquisition of Non-Financial Assets VariationsItem Variance from Budget ReasonsPurchases of Non-Financial

Assets

$35.5 million lower The decrease in Purchases of Non-Financial Assets

primarily reflects:

a decrease in the Department of Health and

Human Services of $42.7 million due to revised

cashflows for the Royal Hobart Hospital

Redevelopment Project to update the timing of

likely expenditure of the program.

This decrease is partially offset by increases of:

$5 million in Affordable Housing Strategy

expenditure brought forward from 2017-18 as

part of the Northern Economic Stimulus

Package; and

$5.8 million for initiatives under Tasmania's

Affordable Housing Action Plan 2015-19; and

a decrease in the Department of State Growth of

$37.5 million due to;

the reallocation of $33.6 million of Australian

Government Roads Program funding from

2016-17 to 2017-18 and 2018-19 to better align

with revised program expenditure projections;

and

a reclassification of $8.7 million to Supplies and

Consumables based on revised program

expenditure projections.

This decrease is partially offset by additional

expenditure of $4 million for roads and bridge

infrastructure repair costs associated with the

June 2016 Floods.


Table A3.5: Major Net Acquisition of Non-Financial Assets Variations(continued)

Item Variance from Budget ReasonsPurchases of Non-Financial

Assets (continued)

The above decreases in Purchases of Non-Financial

Assets expenditure have been partly offset by the following

increases in expenditure:

Tasmanian Health Service of $17.4 million primarily

reflecting:

a $10 million increase following the decision by the

Australian Government to transfer ownership of the

Mersey Community Hospital to the State which is

expected to occur by 30 June 2017;

$3.4 million of own source revenue funded asset

purchases relating to asbestos removal, ICT

stabilisation and equipment purchases;

$2.0 million of works undertaken at the Mersey

Community Hospital following the reconfiguration of

maternity services in the North-West; and

$1.7 million for minor capital reconfiguration in

statewide hospitals funded as a part of the Patients

First - Stage 2 initiative; and

Department of Primary Industries, Parks Water and

Environment of $10.8 million primarily reflecting

additional Parks infrastructure costs of $9 million

following the June 2016 Floods.


GENERAL GOVERNMENT BALANCE SHEET

Table A3.6: General Government Balance Sheet2017) 2017) 2017)

) Estimated) March YTD Budget) Outcome) Actual

$m) $m) $m)

AssetsFinancial Assets

Cash and Deposits 880.8) 1 179.6) 1 436.4

Investments 54.2) 44.3) 47.2

Equity Investment in PNFC and PFC Sectors1 4 482.8) 5 703.4) 4 427.2

Other Equity Investments 27.4) 23.1) 20.5

Receivables 316.6) 319.5) 329.4

Other Financial Assets 847.0) 807.1) 796.1

6 608.9) 8 077.0) 7 056.7

Non-Financial AssetsLand and Buildings 6 098.6) 5 984.6) 5 876.5

Infrastructure 4 779.3) 4 521.4) 4 365.7

Plant and Equipment 224.6) 240.5) 250.1

Heritage and Cultural Assets 502.4) 471.9) 461.5

Investment Property 3.0) 3.2) 2.8

Intangibles 51.8) 45.5) 49.1

Assets Held for Sale 4.7) 5.7) 9.2

Other Non-Financial Assets 31.5) 38.3) 38.5

11 696.0) 11 311.0) 11 053.3

Total Assets 18 304.9) 19 388.0) 18 110.0

Liabilities

Borrowings 633.7) 564.1) 624.1

Superannuation2 6 345.5) 6 176.4) 8 947.8

Employee Entitlements 583.0) 612.7) 602.2

Payables 134.9) 132.8) 74.3

Other Liabilities 358.7) 408.3) 404.4

Total Liabilities 8 055.7) 7 894.3) 10 652.8

NET ASSETS 10 249.2) 11 493.7) 7 457.2


Table A3.6: General Government Balance Sheet (continued)

2017) 2017) 2017)) Estimated) March YTD

Budget) Outcome) Actual $m) $m) $m)

EquityAccumulated Funds 5 293.3) 6 782.4) 2 812.1

Asset Revaluation Reserve 4 955.9) 4 711.3) 4 645.1

Total equity 10 249.2) 11 493.7) 7 457.2


NET WORTH3 10 249.2) 11 493.7) 7 457.2 NET FINANCIAL WORTH4 (1 446.7) 182.6 (3 596.1)NET FINANCIAL LIABILITIES5 5 929.6) 5 520.8 8 023.2 NET DEBT6 (301.3) (659.8) (859.5)

Notes:1. The increase primarily reflects the investment of the one-off Australian Government payment of $730.4 million, following

the decision by the Australian Government to transfer ownership of the Mersey Community Hospital to the State, which is expected to occur by 30 June 2017. In addition, there are forecast increases in net assets for Hydro Tasmania and the Motor Accidents Insurance Board.

2. The Superannuation liability as at 31 March 2017 is based on the latest actuarial valuation as at 30 June 2016 adjusted for the employer service cost and the nominal interest expense, based on actuarial advice, for the nine months ending 31 March 2017. There is a difference of $2 771.4 million between the Estimated Outcome and the March year to date valuation of the Superannuation liability. This reflects the difference between the discount rate applied by the State Actuary, in accordance with Australian Accounting Standard AASB 119 Employee Benefits, for financial reporting purposes (2.7 per cent) and the estimated long-term bond rate which is used for Budget purposes (4.75 per cent at 30 June 2016).

3. Net Worth represents Total Assets (both Financial and Non-Financial) less Total Liabilities.4. Net Financial Worth represents Total Financial Assets less Total Liabilities.5. Net Financial Liabilities represents Total Liabilities less Financial Assets, excluding Equity Investment in the PNFC and

PFC Sectors.6. Net Debt represents Borrowings less the sum of Cash and Deposits and Investments.


GENERAL GOVERNMENT CASH FLOW STATEMENT

Table A3.7: General Government Cash Flow Statement2016-17) 2016-17) 2016-17)


$m) $m) $m)

Cash Flows from Operating ActivitiesCash Received from Operating Activities

Grants Received1 3 634.6) 4 371.9) 2 716.3

Taxation 1 045.9) 1 084.5) 815.6

Sales of Goods and Services 353.7) 404.1) 295.8

Fines and Regulatory Fees 96.5) 95.8) 72.6

Interest Received 16.6) 22.1) 13.2

Dividend, Tax and Rate Equivalents 234.2) 301.2) 241.5

Other Receipts 331.9) 361.8) 310.4

5 713.5) 6 641.3) 4 465.5

Cash Payments for Operating ActivitiesEmployee Entitlements (2 298.5) (2 350.1) (1 757.3)

Superannuation (442.6) (448.9) (320.9)

Supplies and Consumables (1 117.6) (1 217.4) (870.3)

Borrowing Costs (10.4) (10.5) (2.1)

Grants and Subsidies Paid (1 206.1) (1 242.9) (958.6)

Other Payments (205.9) (215.5) (176.1)

(5 281.2) (5 485.2) (4 085.3)

Net Cash Flows from Operating Activities 432.3 1 156.1) 380.2

Cash Flows from Investing ActivitiesNet Cash Flows from Non-Financial Assets

Purchases of Non-Financial Assets (524.8) (476.3) (261.3)

Sales of Non-Financial Assets 28.3 29.4) 26.9

(496.5) (447.0) (234.4)Net Cash Flows from Financial Assets

(Policy Purposes) Equity Injections2 (63.2) (795.9) (32.9)

Net Advances Paid .... …. (4.0)

Equity/Disposals 0.7 0.7 1.7

(62.5) (795.2) (35.2)


Table A3.7: General Government Cash Flow Statement (continued)2016-17) 2016-17) 2016-17)


$m) $m) $m)

Net Cash Flows from Investing Activities (559.0) (1 242.1) (269.5)

Net Cash Flows from Financing Activities Net Borrowing (35.7) (61.4) (1.2)

(35.7) (61.4) (1.2)

Net Increase/(Decrease) in Cash Held (162.5) (147.4) 109.5

Cash at Beginning of the Year 1 043.3 1 326.9 1 326.9 Cash at End of the Year 880.8 1 179.6 1 436.4


Net Cash Flows from Operating Activities 432.3 1 156.1) 380.2

Plus Net Cash from Investments in Non-Financial Assets (496.5) (447.0) (234.4)

Equals CASH SURPLUS/(DEFICIT) (64.2) 709.1 145.8

Notes:1. The increase in Grants Received primarily reflects the estimated receipt of a significant one-off Australian Government

payment of $730.4 million for the transfer of the Mersey Community Hospital to the State by 30 June 2017 (the National Partnership on Transfer of the Mersey Community Hospital).

2. The increase in Equity Injections primarily reflects the investment in the Tasmanian Public Finance Corporation of the one-off Australian Government payment of $730.4 million, following the decision by the Australian Government to transfer ownership of the Mersey Community Hospital to the State, which is expected to occur by 30 June 2017.


CONSOLIDATED FUND

Table A3.8: Consolidated Fund Outcome2016-17 2016-17 2016-17

Estimated March YTD Budget Outcome Actual

$m $m $m Recurrent receipts

Australian Government sourcesGeneral purpose payments 2 299.2 2 254.9 1 711.3

Specific purpose payments 508.1 510.6 442.6

National Partnership Payments 71.3 71.5 53.7

Other Grants and Subsidies 0.1 0.1 ....

2 878.6 2 837.1 2 207.6 State sources

Taxation 929.6 969.8 737.9

Receipts from government businesses 247.9 274.4 254.2

Departmental fees and recoveries 95.9 96.5 74.7

Recoveries of State debt charges 0.1 0.1 ....

Sale and rent of government property 5.0 5.0 ....

Resource rents and royalties 25.0 45.6 32.8

Other recurrent receipts 147.8 176.6 100.9

1 451.2 1 568.1 1 200.6 Capital receipts

State sourcesOther capital receipts 3.5 3.5 2.2

3.5 3.5 2.2

Total Receipts 4 333.4 4 408.7 3 410.4

Less ExpenditureRecurrent services

Appropriation Act 3 751.3 3 801.4 2 780.3

Reserved by Law 324.2 317.7 229.1

4 075.5 4 119.1 3 009.4 Works and services

Capital Investment Program 238.3 242.2 147.0

238.3 242.2 147.0

Total Expenditure 4 313.8 4 361.3 3 156.4

CONSOLIDATED FUND SURPLUS 19.6 47.4 254.0


Table A3.8: Consolidated Fund Expenditure by Agency2016-17 2016-17 2016-17


$m $m $m

EducationRecurrent services 1 208.1 1 212.2 936.2

Works and services 56.2 47.9 33.4

1 264.3 1 260.1 969.6 Finance-General

Recurrent services 539.7 552.3 362.1

539.7 552.3 362.1 Health and Human Services

Recurrent services 1 244.6 1 250.3 925.8


1 278.5 1 291.9 943.1 House of Assembly


8.0 8.0 5.6 Integrity Commission


2.3 2.3 1.6 Justice



144.5 148.0 110.5 Legislative Council


6.5 6.8 4.9 Legislature-General


Works and services 0.9 0.9 ....

7.0 7.2 5.2 Ministerial and Parliamentary Support


19.6 19.5 15.0 Office of the Director of Public Prosecutions


6.4 6.5 4.8


Table A3.8: Consolidated Fund Expenditure by Agency (continued)2016-17 2016-17 2016-17


$m $m $m Office of the Governor


4.0 4.0 2.7 Office of the Ombudsman


2.1 2.1 1.4 Police, Fire and Emergency Management



226.5 226.9 154.3 Premier and Cabinet



73.5 72.3 46.2 Primary Industries, Parks, Water and Environment



173.7 190.6 139.0 State Growth



485.0 487.3 345.2 Tasmanian Audit Office


2.3 2.3 1.8 Tourism Tasmania


26.8 26.8 13.6 Treasury and Finance



42.9 46.4 29.7

TOTAL 4 313.8 4 361.3 3 156.4


2017-18 budget paper 1 - appendix 3 - estimated outcome ... · web viewthe estimated outcome...

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