Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Audit Act Auditor-General Audit report for 1995-96 No. 15-Financial statement audit Aggregate financial statement, 30 June 1995


Download PDF Download PDF

Audit Report No. 15 1995-96

Financial Statement Audit

Australian Am National | e .

AuditOFFICE

Aggregate Financial Statement Prepared by the Minister for Finance year ended

30 June 1995

The Auditor-General

ΐ

A u s t r a l i a n N a t i o n a l A u d i t O f f i c e

T h e A u d ito r-G en era l

A u d it R e p o r t N o.15 1995-96

F in a n cia l S ta te m en t A u d it

A g g r e g a te F in an cial S tatem en t

p r e p a r ed by th e M in is te r fo r F in a n c e y e a r e n d e d 30 J u n e 1995

A u s t r a l i a n G o v e r n m e n t P u b l i s h i n g S e r v i c e , C a n b e r r a

© Commonwealth of Australia 1996

ISSN 1036-7632

ISBN 0 644 45502 0

This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Australian Government Publishing Service. Requests and inquiries concerning reproduction and rights should be addressed to the Manager, Commonwealth Information Services, Australian Government Publishing Service, GPO Box 84, Canberra ACT 2601.

Produced by the Australian Government Publishing Service

Australian .m National ■ #

AuditCanberra ACT O FFIC E13 February 1996 Dear Mr President Dear Mr Speaker

In accordance with the authority contained in the A udit Act 1901, I today approved for transmittal to the Parliament the following:

• my report on the accompanying Aggregate Financial Statement prepared by the Minister for Finance;

• certificates prepared in accordance with section 70D o f the Act.

Pursuant to section 52 of the Act, there have been no orders received pursuant to sub-section 37(2) of the Act, nor have there been any cases or statements of fact put before the Attorney-General pursuant to

section 15 o f the Act.

Yours sincerely

P. J. Barrett Auditor-General

The Honourable the President of the Senate The Honourable the Speaker of the House o f Representatives Parliament House

Canberra ACT

ι

C ontents

Page

1. Independent Audit Report on the Minister for Finance Aggregate Financial Statement vii

2. Audit Act Section 70D Certificates ix

3. Aggregate Financial Statement xiii

Series Titles 53

INDEPENDENT AUDIT REPORT ON THE MINISTER FOR FINANCE AGGREGATE FINANCIAL STATEMENT

Scope

I have audited the Aggregate Financial Statement of the Minister for Finance for the year ended 30 June 1995.

The Aggregate Financial Statement comprises:

• Fund and Public Account Balances;

• Consolidated Revenue Fund;

• Tmst Fund;

• Loan Fund;

• Budget Outcome 1994-95;

• Determinations by the Minister for Finance; and

• further information relating to the financial affairs o f tire Commonwealth.

The Minister for Finance is responsible for the preparation and presentation of the financial statement and the infonnation it contains. The Minister’s report identifies the accounting and legal framework for accounting for Commonwealth moneys and the adoption o f the cash basis of accounting whereby revenue is recorded when it is received and expenditures are recorded when they are paid. Certain liabilities and guarantees of the Commonwealth are reported in the financial statement. I have conducted an independent audit of the Aggregate Financial Statement in order to express an opinion on it.

The audit has been conducted in accordance with Australian National Audit Office Auditing Standards which incorporate Australian Auditing Standards, to provide reasonable assurance as to whether the financial statement is free of material misstatement. Audit procedures included examination, on a test basis, of the evidence supporting the amounts and other disclosures in the

financial statement and the evaluation of accounting policies and significant accounting estimates. The procedures have been undertaken to fonn an opinion whether, in all material respects, the financial statement is presented fairly, in accordance with Australian Accounting Standards and other mandatory professional reporting requirements applicable to public sector

reporting entities employing a cash basis of accounting, so as to present a view which is consistent with my understanding of the Consolidated Revenue Fund, the Loan Fund and the Tmst Fund.

vii

Page 2 of the Aggregate Financial Statement commentary titled ‘Departmental Financia Statements’ reports on qualified audit reports which were issued on financial statement! prepared by Departmental Secretaries in respect to receipts and expenditures of the Consolidated Revenue Fund. These qualifications did not have a material impact on the information reported in the Aggregate Financial Statement.

The audit opinion expressed in this report has been formed on the above basis.

Audit Opinion

In accordance with sub-section 51(1) of the Audit Act I now report that, in my opinion, the financial statement:

• is in agreement with the accounts and records kept in accordance with section 40 of the

• presents fairly, in accordance with the Australian Accounting Standards applicable to public service entities employing the cash basis o f accounting, the transactions and balances of the Consolidated Revenue Fund, the Loan Fund and the Trust Fund for the year ended 30 June 1995, and certain other matters as at that date.

Act, and

P. J. Barrett Auditor-General

Canberra 17 January 1996

vm

COMMONWEALTH OF AUSTRALIA

AUDIT ACT 1901

CERTIFICATE UNDER SUB-SECTION 70D(5)

I, Michael Lavarch, the Attorney-General of the Commonwealth, being, for the purpose of sub-section 70D(5) of the Audit Act 1901, the responsible Minister in respect of the Australian Security Intelligence Organization and having received from the Auditor-General a notification, under that sub-section, of the total of the amounts that, according to the accounts of, or relating to, that Organization audited by him, were, during the financial year that commenced on 1 July 1994, allocated for crediting to exempt accounts of that Organization, hereby certify:

(a) that the moneys shown in those exempt accounts as having been expended for a purpose or service specified in those exempt accounts during that financial year were properly expended in respect of that service or purpose and in the public interest;

(b) that the amount standing to the credit of those exempt accounts at the end of the financial year:

(i) was held partly in cash and partly on deposit with a bank;

(ii) did not equal the amount ascertained by aggregating the amount standing to the credit of those exempt accounts at the commencement of that financial year and the total specified in the above-mentioned notification and subtracting from that aggregate the

total of the moneys referred to in paragraph (a); and

(iii) differed from the amount ascertained by the aggregation referred to in paragraph (b) (ii) above by reason of miscellaneous receipts credited to the exempt accounts, in addition to the amounts allocated for crediting to the exempt accounts referred to above;

IX

(c) that the exempt accounts were inspected and audited; and

(d) that no irregularities or deficiencies in the exempt accounts were disclosed during the financial year.

Dated this 2 / S Γ day of 1995

x

COMMONWEALTH OF AUSTRALIA

AUDIT ACT 1901

CERTIFICATE UNDER SUB-SECTION 70D(5)

I, GARETH JOHN EVANS, the Minister of State for Foreign Affairs, being, for the purpose of Sub-section 70D(5) of the Audit Act 1901, the responsible Minister in respect of the Australian Secret Intelligence Service and having received from the Auditor-General a notification, under that Sub-section, of the total of the amounts that, according to the accounts of, or relating to, that Service audited by him, were, during this financial year that commenced on 1 July 1994, allocated for crediting to exempt accounts of that Service, hereby certify:

a. that the monies shown in the exempt accounts as having been expended for a purpose of service specified in those exempt accounts during that financial year were properly expended in respect of that service or purpose and in the public interest;

b. that the amount standing to the credit of those exempt accounts at the end of the financial year:

i. was held partly in cash and partly on deposit with a bank;

ii. did not equal the amount ascertained by aggregating the amount standing to the credit of those exempt accounts at the commencement of that financial year and the total specified in the abovementioned notification and subtracting from that aggregate the total of the monies referred to in paragraph a; and

iii. differed from the amount ascertained by the aggregation referred to in paragraph b(ii) above by reason of miscellaneous receipts credited to the exempt accounts referred to above;

c. that the exempt accounts and assets were inspected and audited.

Minister for Foreign Affairs

■

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

AGGREGATE FINANCIAL STATEMENT PREPARED BY THE MINISTER FOR FINANCE

Pursuant to section 50AB of the Audit Act 1901

For the year ended 30 June 1995

xiii

'

.

DEPUTY PR IM E M INISTER M IN ISTER FOR FINANCE LEADER OF THE HOUSE OF REPRESENTATIVES Parliament House

CANBERRA ACT 2600

Telephone: (06) 277 7400 Facsimile: (06) 273 4110

1 5 DEC 1995

Mr PJ. Barrett, AM Auditor-General Australian National Audit Office CANBERRA ACT 2600

Dear Mr Barrett

In accordance with the provisions of section 50AB of the Audit Act 1901,1 transmit to you the Aggregate Financial Statement in respect of the financial year ended 30 June 1995.

Yours sincerely

X

KIM C. ______

xv

AGGREGATE FINANCIAL STATEMENT 1994-95 CONTENTS

Section

Number of Table Page

INTRODUCTION 1

I. AGGREGATE FINANCIAL STATEMENT 1994-95

(a) FUND AND PUBLIC ACCOUNT BALANCES Transactions and Balances 1994-95 1 5

Cash Balances at 30 June 1995 2 6

(b) CONSOLIDATED REVENUE FUND Summary of Receipts and Expenditure 1994-95 3 8

Summary of Taxation Receipts 1994-95 4 8

Summary of Receipts 1994-95 5 9

Summary of Expenditure from Appropriations 1994-95 6 10

Issues and Expenditure from the Advances to the Minister for Finance 6 (a) and (b) 13 Amounts Appropriated Pursuant to Section 35 of the Audit Act 6(c) 14

Issues from the Provision For Running Costs Borrowings 6(d) 15

(c) TRUST FUND Summary 7 17

(d) LOAN FUND

Summary 8 29

Π. BUDGET OUTCOME 1994-95

Reconciliation of the transactions of the Consolidated Revenue Fund, Loan Fund and 9 31 Trust Fund with Budget Outlays and Revenue 1994-95 Reconciliation between Outlays in Table 9 and Expenditure from Appropriations of the 10 32 Consolidated Revenue Fund 1994-95 Reconciliation between Revenue in Table 9 and Receipts of the Consolidated Revenue 11 33 Fund 1994-95

in. DETERMINATIONS BY THE MINISTER FOR FINANCE 34

IV. FURTHER INFORMATION RELATING TO THE FINANCIAL AFFAIRS OF THE COMMONWEALTH

Government Securities on Issue at 30 June 1995 12 36

Guarantees of the Commonwealth 13 37

Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 14 39

XVII

Introduction AGGREGATE FINANCIAL STATEMENT OF THE MINISTER FOR FINANCE

In accordance with the provisions of section 50AB of the Audit Act 1901, the Minister for Finance is required to prepare a financial statement providing particulars of the total receipts and expenditures, during the financial year, of the Consolidated Revenue Fund, the Loan Fund and the Tmst Fund.

The Minister for Finance's financial statement presents only aggregate information on the receipts and expenditures of the Consolidated Revenue Fund, the Trust Fund and the Loan Fund. In addition it provides a reconciliation of the Funds' transactions and the Budget outcome for the year, and some further information relating to the financial affairs of the Commonwealth.

This statement reports on receipts and expenditures of the Commonwealth Public Account recorded in the Finance Ledger System (the Ledger) as at 30 June 1995 and journal entries to correct misposting requested by Departments and approved by the Department of Finance. The statement may differ from departmental financial statements where departments have made subsequent

adjustments to their accounts.

Details included in each section of the Aggregate Financial Statement are outlined hereunder.

SECTION I discloses the aggregate receipts and expenditures of the three Funds and the cash and investments balances of the Funds. Where applicable. Budget estimates or appropriations are also shown.

SECTION II of the statement provides a reconciliation of the actual Budget outcome in terms of outlays and revenue with the transactions of the three Funds.

SECTION III of the statement contains particulars of determinations made by the Minister for Finance pursuant to section 4 and subsection 10(a) of Appropriation Act (No.l) Ϊ994-95. Details of approved waivers are also disclosed.

SECTION IV of the statement provides further information relating to the financial affairs of the Commonwealth, including a listing of all departments, trusts, other agencies and entities.

Amounts in the statement have been rounded to the nearer dollar. All totals are the rounded additions of unrounded figures.

ACCOUNTING AND LEGAL FRAMEWORK The accounting and legal framework underlying Commonwealth Government financial transactions derives from the Australian Constitution and the Audit A ct 1901.

The Constitution establishes the Commonwealth's rights and responsibilities in financial matters including the basic requirement for Parliament's power to legislate for the levying of taxes and for the borrowing of money on the public credit of the Commonwealth; the exclusive right to impose duties of customs and excise; and the power to grant financial assistance to the States. It requires that all moneys raised or received by the Executive form one Consolidated Revenue Fund to be appropriated for the purposes of the Commonwealth and that no moneys may be expended except under an appropriation made by law provided that such appropriation shall first be recommended by the Governor-General to the Parliament on the advice of the Executive.

The Audit Act sets the ground rules for the conduct of the Commonwealth's financial affairs. It provides, among other things, that moneys may not be disbursed unless the Minister for Finance has signed an authorisation to draw from the Commonwealth Public Account money for certain services and purposes. It also covers other matters such as the statutory rights and responsibilities of officers through whom revenues and payments are administered, the audit of the puolic accounts, and the preparation of. and the reporting to Parliament by the Auditor-General on the aggregate financial

statement prepared by the Minister for Finance.

The Audit Act is supported by subordinate legislation comprising the Finance Regulations and Finance Directions (including overseas regulations and directions). These consist of operational provisions pertaining to the accounting system which essentially elaborate upon the broad requirements of the Audit Act.

At the time of preparation of this statement. Bills for three Acts which will serve to replace the Audit Act are under consideration by Parliament.

1

ACCOUNTING BASIS The primary method of recording Commonwealth Government financial transactions is on a cash basis. That is, receipts are brought to account in the period received and expenditure is accounted for when the disbursement is made. This contrasts with the accrual basis now adopted in the financial statements of Commonwealth statutory authorities and all departments, whereby receipts are brought to account as they are earned or become due (even if not collected) and expenditure is recorded when a liability is incurred (whether or not payment is made in the accounting period).

This Statement, which is prepared wholly on a cash basis, includes intra and inter Fund receipts and expenditures, and intra and inter departmental receipts and expenditures, as recorded in the Ledger.

DEPARTMENTAL FINANCIAL STATEMENTS The audit reports issued in respect of several departmental financial statements refer to breaches of legislation, non-compliance with the Financial Statement Guidelines for Departmental Secretaries, and other matters. The matters relevant to the Aggregate Financial Statement are:

Australian Security Intelligence Organization - The Auditor-General was unable to form an opinion on receipts to and expenditure from those accounts declared exempt by the Attorney-General under subsection 70D(1) of the Audit Act 1901.

Commonwealth Superannuation Administration - ComSuper was unable to determine the amount due for superannuation pay-as-you-go contributions and emerging costs contributions from approved authorities for 1994-95.

Australian Secret Intelligence Service - The Auditor-General was unable to form an opinion on receipts to and expenditure from those accounts declared exempt by the Minister for Foreign Affairs under subsection 70D(1) of the Audit Act 1901.

Industry, Science and Technology - Payments relating to the Bounty (Computers) Act 1984 and the Bounty (Machine Tools and Robots) Act 1985 were made without the Minister's declarations being tabled in the Parliament as required by the Acts. Payments were therefore made without appropriation by Parliament and so were in breach of Section 83 of the Constitution.

2

THE THREE FUNDS All Commonwealth Government accounting transactions are recorded in the Commonwealth Public Account (CPA). The CPA reflects the operations of three separate funds - the Consolidated Revenue Fund (CRF), the Tmst Fund and the Loan Fund.

The CRF is the principal working fund of the Commonwealth and is mainly financed by taxation, fees and other current receipts. The Constitution requires an appropriation of moneys by the Parliament before any expenditure can be made from the CRF.

The Loan Fund and the Trust Fund are established in accordance with the provisions of the Audit Act. All moneys raised by loan on the public credit of the Commonwealth are credited to the Loan Fund. Expenditures from the Loan Fund are limited to the purpose or purposes for which moneys were originally raised as specified in the Acts authorising moneys to be borrowed.

The Trust Fund comprises 'trustee funds', the 'working accounts' of certain government agencies and other funds.

A schematic diagram of the Commonwealth's accounting framework is shown in Figure 1.

Further details on the three Funds can be found in Section I 'Aggregate Financial Statement 1994-95'.

ALTERNATIVE CLASSIFICATIONS OF COMMONWEALTH FINANCIAL TRANSACTIONS Since the framework of government accounting practice was formalised in the Constitution and the Audit Act there have been substantial developments both in economic theory and in the role of the Government in the economy. With these developments has come a demand for new uses for

statistics on the Government's financial transactions that could not have been envisaged by those who designed a system to meet the needs of the day at the time of Federation.

While the recording of government transactions between the CRF, the Loan Fund and the Trust Fund is made on other than economic criteria, it is possible to reclassify the recorded figures to produce a picture of government transactions that has an economic rather than a purely accounting relevance.

1994-95 Budget Outcome

Tables 9-11 of the statement reflect reconciliations of the transactions of the three Funds with the Budget outcome in terms of Outlays and Revenue. Outlays and Revenue are economic concepts expressed as net amounts and indicate net money flows (to and from the CPA). Outlays and Revenue provide a measure of the volume of economic activity allocated through government action rather than through th ie operation of market mechanisms. Receipts from business-type activities and intra-governmental charging are therefore deducted in the calculation of these measures and, to align with international accounting standards, proceeds from the sale of assets and repayments of advances are also deducted. Further explanation of these concepts may be found in Statement 7 of Budget Paper No.l. In past years when the Commonwealth budget was released in August, the outcome for the previous year was included in Budget documentation. A document entitled 'Final Budget Outcome 1994-95, issued in August 1995, presents and analyses the 1994-95 outcome for outlays, revenue and the deficit.

Other Sources o f Financial Information

An important source of data on the Commonwealth's accounts prepared on a monthly basis is the Statement of Commonwealth Financial Transactions published by the Minister for Finance pursuant to section 49 of the Audit Act which presents data on outlays and revenue together with a consolidated summary of the Government's financial transactions. ’

Budget Related Paper No.4 of 1995-96 entitled Portfolio Budget Measures Statements present details of Budget initiatives and significant changes in appropriations for 1995-96. Summary information of current and forward year outlays is also presented.

3

COMMONWEALTH PUBLIC ACCOUNT

THE ACCOUNTING FRAMEWORK-CHARTOF FUNDS FLOW Reserve Bank

Section I - A g g r e g a te F in a n c ia l S ta te m e n t 1 9 9 4 -9 5 The following tables set out the aggregate receipts and expenditure of the Consolidated Revenue Fund. Trust Fund and Loan Fund for the financial year ending 30 June 1995.

FUND AND PUBLIC ACCOUNT BALANCES

Table 1 shows aggregate transactions and the balances of the Trust Fund and the Loan Fund at 30 June 1995 which are represented by cash balances (refer Table 2) and investments. The operations of the Consolidated Revenue Fund result each year in a nil balance.

Table 1 Transactions and Balances 1994-95

Fund balances Cash and investment balances

$ $ $ $

Consolidated Revenue Cash-

Fund- Balance 1 July 1994 (a) 607,054,034

Net Receipts 161,177,856,679 Receipts 235,212,696,506

Expenditure 161,177,856,679 Payments (a) 234,402,469,786

Balance 30 June 1995 - Net increase 810.226,720

Trust Fund- Balance 30 June 1995 1,417,280,754

Notional Balance 1 July 1994(a) Receipts 13,906,445,329

7,448,579,044 Trust Fund Investments-

Expenditure (a) 17,436,461,366 Balance 1 July 1994 (a)

Net decrease in

6,841,573,796

Net decrease (3,530,016,037) 1994-95 (a) (4,340,268,303)

Notional Balance 3,918,563,007 Balance 30 June 1995 2,501,305,493

Loan Fund-Balance 1 July 1994 Receipts 115.675,884,849

48,786

Expenditure 115,675,910,396

Net decrease (25,547)

Balance 30 June 1995 23,239

Total 3,918,586,247 Total 3,918,586,247

(a) As at 30 June 1994 the financial transactions of the Commonwealth Superannuation Fund No.2 were included as part of the Trust Fund and the Commonwealth Public Account. The cash balance and investments of the Trust Account, consisting of moneys brought to account in the Finance Ledger System and moneys held outside of the Commonwealth Public Account by the Superannuation Fund, were reported in Tables 1, 2 and 7 of the Aggregate Financial Statement 1993-94. Following the amendment of the Superannuation Act 1976, the Superannuation Fund ceased to be part of the Trust Fund from 1 July 1994.

The 1 July 1994 balances of the Trust Fund, Trust Fund Investments and Cash - Commonwealth Public Account were adjusted to include the Superannuation Fund's cash and investments held outside o f the Commonwealth Public Account. The 30 June 1995 Trust Fund expenditure and investments ($3,700.3 million and $3,687.9 million respectively) and Cash - Commonwealth Public Account payments ($10.7 million) have been adjusted to record the withdrawal of the Superannuation Fund's moneys from the Commonwealth Public Account.

5

Table 2 Cash Balances at 30 June 1995

Cash Accounts in Australia-Commonwealth Public Account National Debt Sinking Fund (a)

Cash Accounts Overseas (b)

London Washington

Balance 30 June 1995

1,152,057,897 232,416,665

4,740,523 28,065,669

1,384,474,562

32,806,192

1,417,280,754

(a) The $232,416,665 balance of the National Debt Sinking Fund (NDSF) as at 30 June 1995 represents the Department of Finance Central Ledger balance of the Trust Account. At 30 June 1995 the Reserve Bank of Australia recorded only $75,217,472 in the NDSF Account as $157,199,193 had been transferred from the NDSF bank account to the Treasury Collectors Receipt Account. Reimbursement of the Commonwealth Public Account from the Collectors Receipt Account for expenditure incurred on behalf of the NDSF had not been effected at 30 June 1995. The difference between the Reserve Bank balance of $75,217,472 and the $75,058,844 shown in Table 7 - Group 4 at pages 17 and 27, is

expenditure on behalf of the NDSF from the Commonwealth Public Account not reimbursed at 30 June 1995. (b) Expressed in Australian currency.

CONSOLIDATED REVENUE FUND The Consolidated Revenue Fund (CRF) is the main working fund of the Commonwealth: it has its basis in (but is not coterminous with) the CRF mentioned in the Constitution and consists of all receipts raised or received by the Commonwealth.

The main sources of receipts are: • taxation - income tax, sales tax, fringe benefits tax and customs duty • receipts from business undertakings; and • other departmental receipts.

The main payments from the Fund are for: • payments to or for other levels of government (excluding the States' and Territories' share of the proceeds of public loans); • social security and health benefits; • departmental expenditures; • defence services; • interest and certain other debt charges; and • advances and payments to some statutory' authorities.

Receipts are required by the Constitution to be paid into the CRF and an appropriation of moneys by the Parliament is required before any expenditure can be made from it. In order to comply with this requirement the appropriations in 1994-95 followed two forms:

(i) annual appropriations consisting of Appropriation Acts (Nos 1-4) and the Appropriation (Parliamentary Departments) Acts (Nos 1 and 2); and (ii) special or standing appropriations.

The Appropriation Acts (Nos 1 and 2), and the Appropriation (Parliamentary Departments) Act which formed part of the annual Budget provided for the annual expenditures for Government services not included in Special or Standing Appropriations. These were supplemented by the 'Additional Estimates' later in the financial year which were reflected in Appropriation Acts (Nos 3 and 4) and the Appropriation (Parliamentary Departments) Act (No 2).

Annual appropriations are specific in amount, time and purpose and any unexpended funds lapse at the end or the financial year.

6

Special or Standing Appropriations of the CRF (or Loan Fund) are included in a number of other Acts. These appropriations may be specific or indeterminate in both amounts and time and do not necessarily lapse at the end of the financial year. Generally, special appropriations are favoured in circumstances where: it is desired to create a legal entitlement to a benefit and to provide that benefit to everyone satisfying criteria set out in legislation (eg the age pension); it is considered

important to demonstrate the independence of an office from Parliament and the Executive (eg salaries of justices); or it is considered necessary to demonstrate Australia's ability to meet its financial obligations independently of parliamentary approval of funds (eg the repayment of loans). Table 6 of Budget Paper No 2 (The Commonwealth Public Account 1995-96) details estimated expenditure for 1995-96 and 1994-95 revised estimates of expenditure from Special Appropriations

(actual expenditures are summarised in the document "Final Budget Outcome 1994-95", August 1995, Table 6).

REFUNDS OF RECEIPTS Moneys paid into the Consolidated Revenue Fund may be refunded in accordance with an appropriation made by law for that purpose.

By convention, the receipts figures shown in summary Table 5. are net receipts: amounts refunded have been deducted from receipts for each department. Total expenditure figures shown for the departments in summary Table 6 exclude amounts appropriated for refunds under the following legislation: • Audit Act 1901, section 37A- refunds provided for by any law where no appropriation is made by any other

Act

• Taxation Administration Act 1953 - refunds of taxation.

Receipts less refunds are also shown in Table 3.

7

Consolidated Revenue Fund

Table 3 Summary of Receipts and Expenditure 1994-95 Budget Estimate Receipts

and Expenditure

Gross taxation receipts Less refunds - Audit Act 1901, s37A (a) Taxation Administration Act 1953, sl6 (a) Net Taxation Receipts Gross other receipts (b)

Less refunds - Audit Act 1901, s37A (a) Taxation Administration Act 1953, sl6 (a) Net other receipts

Total Receipts

$ 113,647,352,628

319,819,283 9,225,941,126

102.028.314.000 68,079,110,575

11,002,891,534 (45,418)

32,275,928,000

134.304.242.000

Special appropriations 105,403,660,000

Annual appropriations (Parliamentary Departments) (c) (d) 127,792,000 Annual appropriation (N o.l) (c) (e) 29,895,055,000

Annual appropriation (No.2) (c) (f) 4,886,147,000

Other Allowances (g) _____ (6,008,412,000)

133,487,930,196 129,161,407 23,239,119,842 4,321.645,234

Total Expenditure 134,304,242,000

$

104,101,592,219

57,076,264,459

161,177,856,679

161,177,856,679

(a) The Budget Estimate for refunds was as follows:- Audit Act 1901 - $350m and Taxation Administration Act 1953 - $8 300m. (b) Gross other receipts includes Fringe Benefits Tax collected from Budget dependent agencies of $310.6m (Budget Estimate $346.75m). This revenue is included in the financial statements of the Australian Taxation Office. (c) Budget Estimate excludes Advances to the Minister for Finance, Advances to Presiding Officers and Provision for Running Costs Borrowings.

Further moneys were appropriated during the year under Appropriation Acts (Nos 3 & 4) and Appropriation (Parliamentary Departments) Act (No 2) (d) Includes Budget Estimate of $2.119m o f amounts deemed to be appropriated pursuant to annotated appropriations. (e) Includes Budget Estimate of $319.333m o f amounts deemed to be appropriated pursuant to annotated appropriations (f) Includes Budget Estimate of $47.366m of amounts deemed to be appropriated pursuant to annotated appropriations. (g) Includes Budget Estimate of $6 000m chargeable to the Loan Fund and $8.412m for other allowances.

Table 4 Summary of Taxation Receipts 1994-95

Customs - Imports Excise Sales Tax Income Tax-

Individuals (PAYE) Individuals (other) Companies Dividend, interest and mining (withholding) Tax at source from payments for labour and services Reportable Payments System Fringe Benefits Tax Resource Rent Tax Wool Tax Special Tax to Recover Evaded Company and Division 7 Tax Bank Accounts Debits Tax- Departure Tax Estate Duty

Total Taxation

Budget Estimate

$

3.290.000. 000 12,218,808,000 11.150.000. 000

46,326,380,000 8.440.000. 000 13.860.000. 000

870.000. 000 1.490.000. 000

3.230.000. 000 870.000. 000 215,226,000

67,900,000

Receipts (a)

3,473,726,996 11,978,617,884 11,624,252,028

46,365.761,977 8,475,593,732 15,587,863,785 903,204,433

1,732,515,002 481,028 2,739,791,491 864,900,621

276,685,313 32,434 (47) 78,165,516

26

102,028,314,000 104,101,592,219

(a) Receipts are net of refunds under the Audit Act 1901 and the Taxation Administration Act 1953: see Table 3.

8

Consolidated Revenue Fund

Table 5 Summary of Receipts 1994-95

Budget

Department Estimate (a) Receipts (a)

Senate 186,000 265,790

House of Representatives 125,000 144,010

Parliamentary Reporting Staff 330,000 316.197

Parliamentary Library 57,000 59,093

Joint House 2,109,000 2,326.604

Attorney-General's 275,939,000 277,817,087

Administrative Appeals Tribunal 839,000 822,081

Australian Federal Police 52,378,000 60,821,524

Australian Security Intelligence Organization 402,000 1,534,141

Australian Transaction Reports and Analysis Centre 5,000 1,058

Family Court of Australia 8,826.000 9,205,394

Federal Court of Australia 10,785,000 11,263,848

Human Rights and Equal Opportunity Commission 1,423.000 1,952,318

Industrial Relations Court of Australia 2,000 51,302

National Crime Authority 1,898,000 1,888,212

National Native Title Tribunal 110,000 71,145

Office of the Director of Public Prosecutions 3,011.000 3,343,994

Office of Parliamentary Counsel 282.000 353,532

Communications and the Arts 1,622,535,000 1,654,906,977

Spectrum Management Agency 93,365,000 235,064,169

Defence 703,734,000 749,685,964

Veterans' Affairs 66,056,000 111,948,325

Employment, Education and Training 81,608,000 78,172,100

Environment, Sport and Territories 66,092,000 68,694,887

Finance (b) 15,469,939,000 41.187,473,281

Australian National Audit Office 28.958,000 25,970,700

Commonwealth Superannuation Administration 1,183,310,000 1,278,956.814

Administrative Services 421,947,000 382,262.626

Australian Electoral Commission 10,267,000 4,221.936

Foreign Affairs and Trade 96,362,000 95,146,635

Australian Secret Intelligence Service 758,000 692,712

Housing and Regional Development 25.513,000 30.971,857

National Capital Planning Authority 2,834,000 2,907,229

Human Services and Health 126,024,000 67,488,173

Professional Services Review - -

Immigration and Ethnic Affairs 96,042,000 113,614.894

Industrial Relations 264.086,000 295,788,213

Affirmative Action Agency 4,000 95,538

Australian Industrial Registry 1,264,000 1,1S^1,3S1

Industry, Science and Technology 31,569,000 34,914,616

Australian Customs Service 15,694,006,000 15,642,685,103

Textiles, Clothing and Footwear Development Authority 881,000 750,764

Primarv Industries and Energy 1.059,995,000 1,144,452,667

Prime Minister and Cabinet 1,021,000 1,085,138

Commonwealth Ombudsman 658,000 654,091

Merit Protection and Review Agency 1,138,000 1,667,323

Office of the Inspector-General of Intelligence and Security 1,000 1,258

Office of National Assessments 8,000 8,253

Office of the Public Service Commissioner 3.893,000 7,019,750

Social Security 65,601,000 60,217,291

Tourism 705,000 816.281

Transport 141,815,000 157,014,692

Treasury 9,875,198,000 8,630,895,904

Australian Bureau of Statistics 23,050,000 22,552,962

Australian Taxation Office 86,635.329,000 88,653,367,564

Industry Commission 4,201,000

45.220,000

306,049

Insurance and Superannuation Commission 44,899,999

Prices Surveillance Authority 20,000 27,207

Trade Practices Commission 528,000 17,028,026

Total Consolidated Revenue Fund Receipts 134,304,242,000 161,177,856,679

(a) Receipts are net of refunds: see Table 3. (b) Estimate of Receipts includes $2 331 882 000 in respect of Asset Sales. Receipts for Asset Sales amounting to $235 792 152 are included in individual departmental receipt figures.

9

Consolidated Revenue Fund

Table 6 Summary of Expenditure from Appropriations 1994-95 1994-95 (Actual) 1994-95 Estimate/Appropriation

Department

Special

Appropriations (a)

Annual

Appropriation Acts Nos 1 & 3 Parliamentary Departments Acts Nos 1 & 2(b)

appropriations

Appropriation Acts Nos 2 & 4(c) Total

$ $ $ $

Senate 9,144,915 22,277,782 - 31,422,697

9,025,000 23,392,604 - 32,417,604

House of Representatives 17,481,462 22,450,593 - 39,932,055

17,371,000 23,752,297 - 41,123,297

Parliamentary Reporting Staff - 32,852,424 - 32,852,424

- 34,288,874 - 34,288,874

Parliamentary Library - 14,146,501 - 14,146,501

- 15,224,381 - 15,224,381

Joint House - 37,434,108 - 37.434,108

(d) - 40,332,452 - 40.332,452

Attorney-General's 7,760,491 302,517,216 267,448,960 577,726,667

6,679,000 320,285,215 286,488,000 613,452,215

Administrative Appeals Tribunal - 19,812,782 - 19,812,782

- 21,005,021 - 21,005,021

Australian Federal Police - 238,667,656 11,318,103 249,985,759

- 248,962,428 13,809,000 262,771,428

Australian Security Intelligence Organization - 55,620,037 - 55,620,037

- 60,219,141 - 60,219.141

Australian Transaction Reports and Analysis - 6,634,525 1,646,720 8,281,245

Centre - 7,658,058 2,055,000 9,713,058

Family Court of Australia - 87,031,944 - 87,031,944

- 92,382,862 - 92,382,862

Federal Court of Australia - 34,166,371 496,711 34,663,082

- 36,855,989 725,000 37,580,989

Human Rights and Equal Opportunity - 17,438,716 904,000 18,342,716

Commission - 18,097,172 904,000 19,001,172

Industrial Relations Court of Australia - 9,696,103 - 9,696,103

- 10,265,000 - 10,265,000

National Crime Authority - 43,554,300 - 43,554,300

- 45.760,000 - 45,760.000

National Native Title Tribunal - 6,030,979 - 6,030,979

- 9,241,450 - 9,241,450

Office of the Director of Public Prosecutions - 43,219,967 150.000 43,369,967

- 54,358,365 150,000 54,508.365

Office of Parliamentary Counsel - 4,913,587 - 4,913,587

- 5,769,156 - 5,769,156

Communications and Arts - 1,065,400,684 345,026,309 1,410,426,992

- 1,081,898,607 397,660,000 1,479,558,607

Spectrum Management Agency - 32,761,445 3,123,883 35,885,328

- 34,095,294 3,175,000 37,270,294

Defence (e) 941,026,899 4,405,899,665 - 5,346,926,564

955,319,000 10,527,247,590 - 11,482,566,590

Veterans' Affairs 4,065,909,376 1,679,460,213 38,989,706 5,784,359,294

4,061,655,000 1,780,332,721 52,872,000 5,894,829,721

Employment, Education and Training 10,425,829,846 2,692,712,627 164,335,123 13,282,877,596

10,291,989,000 3,103,484,649 231,285,664 13,626,759,313

Environment, Sport and Territories 1,609,999 486,196,420 180,949,756 668,756,175

1,400,000 510,595,394 191,669,835 703,665,229

Finance 27,977,268,592 199,940,529 29,798,645 28,207,007,766

11,560,000 206,346,263 121,156,000 339.062.263

Australian National Audit Office 206,424 39,755,158 - 39.961,582

246,000 45,495,600 - 45,741.600

10

1994-95 (Actual)___________

_______________________________________________________________________ 1994-95 Estimate/Appropriation

____________ Annual appropriations

Consolidated Revenue Fund Table 6 Summary o f Expenditure from Appropriations 1994-95 - continued

Appropriation Acts Nos 1 & 3 Parliamentary

Special Departments Appropriation Acts

Department Appropriations (a) Acts Nos 1 & 2(b) Nos 2 & 4(c) Total

Commonwealth Superannuation Administration $ 2,929,727,374 $

29,660,225

$

601,000

$

2,959,988,599

2,903,814,000 31,352,608 601,000 2,935,767,608

Advance to the Minister for Finance (f) - - - -

(f) - 63,307,634 57,362,837 120,670,471

Provision for Running Costs Borrowings (g) - - - -

(g) - 10,173,000 - 10,173,000

Administrative Services 53,787,198 495,720,479 203,960,741 753,468,418

51,986,000 573,897,903 333,179,678 959,063,581

Australian Electoral Commission 11,963,450 70,243,956 - 82,207,406

9,234,000 74,778,402 - 84,012,402

Foreign Affairs and Trade 154,279,698 2,292,405,374 9,435,115 2,456,120,187

155,391,000 2,362,275,820 11,015,000 2,528,681,820

Australian Secret Intelligence Service - 34,260,565 50,000 34,310,565

- 34,466,712 50,000 34,516,712

Housing and Regional Development 1,072,865,000 60,745,473 329,529,103 1,463,139,576

1,082,567,000 64,849,524 452,741,500 1,600,158,024

National Capital Planning Authority - 15,164,148 3,283,389 18,447,537

- 16,963,281 7,285,000 24,248.281

Human Services and Health 14,598,598,711 2,307,919,908 1,245,279,713 18,151,798,333

14,631,615,000 2,480,845,826 1,398,879,000 18,511,339,826

Professional Services Review - 832,258 - 832,258

- 1,396,000 - 1,396,000

Immigration and Ethnic Affairs - 428,474,611 832,417 429,307,028

- 436,744,016 1,902,000 438,646,016

Industrial Relations 338,926,287 115,826,561 1,582,179 456,335,028

341,067,000 123,216,196 1.663,000 465,946,196

Affirmative Action Agency - 2,105,963 - 2,105,963

- 2,470,803 - 2,470.803

Australian Industrial Registry - 43,563,768 - 43,563,768

- 44,218,662 - 44,218,662

Industry, Science and Technology - 1,035,032,914 89,951,526 1,124,984,440

- 1,093,783,493 104,149,446 1,197,932,939

Australian Customs Service 1,252,329,889 336,886,633 5,039,578 1,594,256,100

1,175,237,000 364,192,545 9,446,000 1,548,875,545

Textiles, Clothing and Footwear Development 15,676,829 19,291,314 - 34,968,143

Authority 16,566,000 29,698,764 - 46.264,764

Primary Industries and Energy 942,187,737 470,019,711 296,256,735 1,708,464,183

822,603,000 542,994,746 339,706,067 1,705,303,813

Prime Minister and Cabinet 29,333,896 1,044,467,208 202,304,000 1,276,105,104

30,649,000 1.054,086,170 202,304,000 1,287,039,170

Commonwealth Ombudsman - 7,689,985 - 7,689,985

- 8,193,159 - 8,193,159

Merit Protection and Review Agency - 5,283,177 - 5,283,177

- 6,132,493 - 6,132,493

Office of the Inspector-General of Intelligence - 990,805 - 990,805

and Security - 1,070,579 - 1,070,579

Office of National Assessments - 6,378,919 - 6,378,919

- 6,584,253 - 6,584,253

Office of the Public Service Commissioner - 18,320,609 - 18,320,609

- 20,109,087 - 20.109,087

Social Security 33,917,336,522 1,148,328,521 202,238,960 35,267,904,003

33,938,343,000 1,272,016,417 215,713,539 35.426.072,956

11

1994-95 (Actual)

Consolidated Revenue Fund Table 6 Summary o f Expenditure from Appropriations 1994-95 - continued

1994-95 Estimate/Appropriation

Department

Special

Appropriations (a)

Annual

Appropriation Acts Nos 1 & 3 Parliamentary Departments Acts Nos 1 & 2(b)

appropriations

Appropriation Acts Nos 2 & 4(c) Total

$ $ $ $

Tourism - 101,464,249 - 101,464,249

- 102,678,293 - 102,678,293

Transport 936,963,045 204,577,412 269,486,647 1,411,027,104

959,390,000 251,327,972 290,862,000 1,501,579,972

Treasury 33,678,679,559 68,017,372 370,860,217 34,117,557,147

33,852,254,000 79,515,910 648,445,112 34,580,215,022

Australian Bureau of Statistics - 211,522,245 1,714,687 213,236,931

- 219,100,710 1,721,000 220,821,710

Australian Taxation Office 108,017,629 1,111,285,936 45,051,309 1,264,354,874

74,800,000 1,156,112,543 45,464,000 1,276,376,543

Industry Commission - 23,166,635 - 23,166,635

- 29,599,148 - 29,599,148

Insurance and Superannuation Commission 1,019,369 33,901,033 - 34,920,402

2,900,000 37,249,546 - 40,149,546

Prices Surveillance Authority - 3,504,179 - 3,504,179

- 4,039,207 - 4,039,207

Trade Practices Commission - 20,636,771 - 20,636,771

- 20,655,128 - 20,655,128

Total Consolidated Revenue Fund 133,487,930,196 23,368,281,249 4,321,645,234 161,177,856,679

Expenditure 105,403,660,000 30,977,413,135 5,424,439,678 141,805,512,813

(a) Estimates of expenditure from Special Appropriations are disclosed under the Department identified in Table 6 of Budget Paper No.2 1994-95. (b) Includes issues from the Advance to the Minister for Finance (see Table 6(a)), amounts provided in accordance with section 35 of the Audit Act 1901 (sections 7 and 8 of Appropriation Act (No. 1) 1994-95, sections 5 and 6 of Appropriation (Parliamentary Departments) Act 1994-95, sections 6 and 7 o f Appropriation Act (No.3) 1994-95, and sections 5 and 6 of Appropriation (Parliamentary Departments) Act (No.2) 1994-95

refer - (see Table 6(c))), and amounts provided from the Provision for Running Costs Borrowings (see Table 6(d)). (c) Includes issues from the Advance to the Minister for Finance (see Table 6(b)), and amounts provided in accordance with section 35 of the Audit Act 1901 (see Table 6(c)). (d) Includes unexpended amounts appropriated for the Joint Advance to the President and the Speaker and the Provision for Running Costs

Borrowings to the President and the Speaker. (e) Expenditure under Appropriation Acts (Nos 1 and 3) 1994-95 includes an amount of $ 6 000 000 000 transferred to the Loan Fund - see Table 8. (f) The amounts identified against the Advance to the Minister for Finance represent only the unissued portion of the Advance. Issue and

expenditure from the Advance are shown under the appropriation to which they have been charged (see Table 6(a) and (b)). (g) The amounts identified against the Provision for Running Costs Borrowings represent only the unissued portion o f the Provision. Issue and expenditure from the Provision are shown under the appropriation to which they have been charged (see Table 6(d)).

12

Table 6 (a) Issues and Expenditure from the Advance to the Minister for Finance - Appropriation Act (No.l) 1994-95 Issues from the Advance to the ______________________________________________________________________________________ Minister for Finance___________ Expenditure

$ $

Attorney-General's Department 1,213 1,213

Australian Federal Police 58.929 58,694

Family Court of Australia 245,625 245,625

Department of Defence 115,215,590 1 15,193,591

Department of Veterans' Affairs 925,000 871,520

Department of Employment, Education and Training 30,244 29,198

Department of Finance 14,290,394 14,271,578

Department of Administrative Services 9,597,822 9,346,263

Department of Foreign Affairs and Trade 6,832,444 6,829,666

Department of Human Services and Health 647,760 626,445

Department of Immigration and Ethnic Affairs 1,490,437 1,482,490

Department of Industrial Relations 4,050 -

Australian Customs Service 740,181 729,162

Department of Primary Industries and Energy 786,925 777,294

Department of the Prime Minister and Cabinet 99,879 99,879

Office of the Inspector-General of Intelligence and Security 49,321 49,320

Department of Social Security 430,470 412,176

Australian Bureau of Statistics 75,319 50,902

Australian Taxation Office 763 762

Trade Practices Commission 170,000 161,306

Total 151,692,366 151,237,084

Unissued Advance 63,307,634

Appropriation 215,000,000

Table 6 (b) Issues and Expenditure from the Advance to the Minister for Finance - Appropriation Act (No.2) 1994-95 Issues from the Advance to the

Minister for Finance Expenditure

Department of Employment, Education and Training 36,953,664

$

36,863,978

Department of the Environment, Sport and Territories 193,835 193.835

Department of Foreign Affairs and Trade 1,000,000 1,000,000

Australian Secret Intelligence Service 50,000 50,000

Department of Housing and Regional Development 30,834,500 30,834,500

Department of Industry, Science and Technology 221,446 221,446

Department of Primary Industries and Energy 17,406,067 17,403,883

Department of the Prime Minister and Cabinet 300,000 300,000

Department of Social Security 6.488,539 6,488,539

Department of Transport 24,158,000 24,158,000

Department of the Treasury 31,112 31,112

Total 117,637,163 117,545,292

Unissued Advance 57,362,837

Appropriation 175,000,000

13

Table 6 (c) Amounts Appropriated Pursuant to Section 35 of the Audit Act (Net Appropriations) The following amounts were deemed to have been appropriated in 1994-95 pursuant to section 35 of the Audit Act. Appropriation Budget Amount

Department Item Estimate Deemed

Senate 101-1 180,000

$

218,604

House of Representatives 104-1 75,000 60,297

Parliamentary Reporting Staff 107-1 300,000 227,874

Parliamentary Library 108-1 40,000 34,381

Joint House 109-1 1,524,000 1,552,452

Attorney-General's 120-1 1,559,000 1,715,002

121-1 650,000 1,011,000

805-3-01 8,000,000 -

Administrative Appeals Tribunal 136-1 360.000 374,184

136-2-01 252,000 241,837

Australian Federal Police 122-1 50,543,000 58,484,941

122-2-04 859,000 732,000

138-1 10,000 1,558

Australian Security Intelligence Organization 125 402,000 1,534.141

Australian Transaction Reports and Analysis Centre 126-1 5,000 1,058

Family Court of Australia 134-1 120,000 456,237

Federal Court o f Australia 135-1 572,000 870,989

Human Rights and Equal Opportunity Commission 129-1 1,342,000 1,952,172

Industrial Relations Court of Australia 140-1 - 44,000

National Native Title Tribunal 139-1 - 30,450

Office of the Director of Public Prosecutions 133-1 274,000 343,365

Office of Parliamentary Counsel 132-1 273,000 341,156

Communications and the Arts 150-1 633,000 759,052

160-1 721,000 910.893

163-1 3,199,000 3,885,663

Spectrum Management Agency 154-1 300,000 489.294

Defence 180-1 161,000 131,000

Veterans' Affairs 195-1 307,000 376,721

Employment, Education and Training 220-1 12,514,000 10,022,405

Environment, Sport and Territories 260-1 1,211,000 2.629,178

265-1 6,155,000 5.286,845

267-1 723,000 703,807

267-2-01 880,000 860,800

268-1 2,338,000 1.044,084

268-2 6,300,000 11,842.679

Finance 280-1 5,145,000 5,010,932

280-2-04 45,000,000 53,042,318

280-2-07 2,000,000 1,896,619

Australian National Audit Office 281-1 126,000 52.600

Commonwealth Superannuation Administration 282-1 951,000 204,608

Administrative Services 300-1 13,454,000 16,802,483

300-4-02 453,000 738,756

302-1 300,000 319,842

865-1-04 2,750,000 2,244,343

865-1-05 3.658.000 7,149.886

865-1-10 2.958,000 2,050,449

865-2-01 30,000,000 -

Australian Electoral Commission 301-1 927,000 2,028,402

Foreign Affairs and Trade 315-1 18,044,000 20,040,232

316-1 2,000 143

317-1 360,000 385,000

Australian Secret Intelligence Service 318-1 758,000 692.712

Housing and Regional Development 330-1 7,000 53.524

National Capital Planning Authority 331-1 2,562,000 1,628,281

Human Services and Health 340-1 26,469,000 26,346,066

Immigration and Ethnic Affairs 360-1 16,364.000 18.150,086

360-2-09 120,000 126,274

360-4-01 3,439,000 2,903,589

360-5-02 310,000 240,780

361-1 10,000 13,995

362-1 43,000 32,856

14

Table 6 (c) Amounts Appropriated Pursuant to Section 35 o f the Audit Act (Net Appropriations) - continued

Appropriation Budget Amount

Department________________________________________________________________ Item____________________ Estimate______________Deemed

Industrial Relations

Affirmative Action Agency Australian Industrial Registry Industry. Science and Technology

Australian Customs Service Textiles, Clothing and Footwear Development Authority Primary Industries and Energy

Prime Minister and Cabinet

Commonwealth Ombudsman Merit Protection and Review Agency Office of the Inspector-General of Intelligence and Security

Office of National Assessments Office of the Public Service Commissioner Social Security Tourism Transport Treasury

Australian Bureau of Statistics Australian Taxation Office Industry Commission

Insurance and Superannuation Commission Prices Surveillance Authority Trade Practices Commission

$ $

365-1 2,464,000 3,193,652

370-1 6,000 558

371-1 4,830.000 4,994,936

366-1 2.000 60,803

368-1 30.000 36,662

380-1 570,000 875,247

380-3-01 315,000 116,088

386-1 42,000 35,746

388-1 1,000 1,411

381-1 18,795,000 17,547,364

389-1 5,000 764

490-1 8,735,000 7.675,621

491-1 4,260,000 5,612,352

492-1 9,457,000 8.096,848

500-1 505,000 173,773

502-1 9.000 42,594

503-1 175,000 452,924

501-1 15,000 8,159

504-1 1,015,000 1,665,493

505-1 1,000 1,258

506-1 8,000 8,253

507-1 3,792.000 6,901,087

560-1 5,788,000 9,564,947

600-1 50,000 27,293

650-1 1.167,000 552.972

670-1 570,000 616,910

671-1 23,000,000 22,475,391

672-1 3,200,000 3,022,780

675-1 150,000 162,148

674-1 742,000 1,094,546

673-1 20,000 27,207

676-1 107,000 166,128

Total 368,818,000 366,536,813

Table 6 (d) Issues from the Provision For Running Costs Borrowings - Appropriation Act (No.l) 1994-95 Appropriation Issues from the

Department Item Provision

Attorney-General's 120-1 75,000

130-1 154,000

Family Court of Australia 134-1 1,285,000

Industrial Relations Court of Australia 140-1 1,311,000

Housing and Regional Development 330-1 360,000

National Capital Planning Authority 331-1 200,000

Human Services and Health 340-1 4,000,000

Immigration and Ethnic Affairs 360-1 2,300,000

Trade Practices Commission 676-1 142,000

Total 9.827,000

Unissued Provision 10,173,000

Appropriation 20,000.000

15

TRUST FUND Section 60 of the Audit Act 1901 provides that a separate account, to be called the Trust Fund, shall be kept of all moneys which shall be placed to the credit of that Fund under such separate heads as may be directed by the Minister for Finance. The Minister is also empowered under section 62A of the Act to establish trust accounts and to define the purposes for which they are established. Trust accounts are also established by specific legislation. Moneys standing to the'credit of trust accounts are deemed to be moneys of the Trust Fund. In accordance with section 61 of the Act, moneys standing to the credit of the Trust Fund may be expended only for the purposes of such Fund or under the authority of an Act.

The Minister for Finance may, pursuant to section 62B of the Audit A ct 1901. invest moneys standing to the credit of the Trust Fund in specified kinds of investments. The financial statements prepared by departments pursuant to section 50 of the Audit Act (and included in departmental annual reports) identify the investments of particular trust accounts. Investments of the Trust Fund

(excluding National Debt Sinking Fund, certain investments of the Loan Consolidation and Investment Reserve (LCIR)) are deemed by subsection 62B(2) of the Audit Act to be invested in the corporate name of ’The Minister for Finance of the Commonwealth’. Investments of certain balances

standing to the credit of the LCIR are deemed to be in the corporate name of ’The Treasurer of the Commonwealth’ pursuant to subsection 6(3) of the Loan Consolidation and Investment R e se n t Act 1955. Legal advice is to the effect that investments and the liquidation of those investments involve ’expenditure’ and ’receipts’ for the purposes of subsection 50(1) of the Audit Act and that the balances of the trust accounts should be reduced by the amount of investments outstanding at 30 June. In the interests of informative and meaningful reporting, the financial statements for the affected trust accounts provided at Table 7 have been designed to disclose investment information. In particular, information concerning expenditure and receipts has been split as between investment and non-investment activities so as to provide ’notional’ balances taking into account the value of investments, and a ’cash’ balance after account is taken of investment transactions.

Interest received from investments is paid to the Consolidated Revenue Fund unless another Act specifically provides for it to be paid direct to the relevant account within the Trust Fund or the Minister has directed that it shall be dealt with in some other manner, ie for payment to a Trust Account.

In Table 7 the heads of trust fund and trust accounts comprising the Trust Fund are classified into the following four groups:

GROUP 1 is for ’trustee type’ moneys which are held in trust for persons and authorities other than the Commonwealth. Examples are' Other Trust Moneys for moneys temporarily held in trust for other persons and Income Equalization Deposits for proceeds of loans raised under the Loan (Income Equalization Deposits) Act 1976.

GROUP 2 is for the working accounts of Commonwealth Government commercial activities. An example is the Legal Practice Trust Account from which is paid salaries, wages and other expenses in connection with the provision of legal services to Commonwealth departments and agencies.

GROUP 3 is for moneys held in tmst to meet future expenditure. Examples are the Loan Consolidation and Investment Reserve for repurchasing or redeeming securities which represent a portion of the public debt of the Commonwealth, and the Australian Land Transport Development Trust Fund primarily to provide financial assistance to the States and the Northern Territory for expenditure on construction and maintenance of roads.

GROUP 4 comprises the National Debt Sinking Fund (NDSF) which, although not established as a head of the Trust Fund under section 60 of the Audit Act 1901 nor as a Trust Account under section 62A of the Act, is, pursuant to section 7 of the National Debt Sinking Fund Act 1966, an account to be maintained within the Trust Fund. The NDSF was established to meet expenditure on the

repurchase or redemption by the National Debt Commission in reduction of the public debt of the Commonwealth and the States. Upon commencement of the Financial Agreement Act 1994 on 1 July 1995, the NDSF will be closed and all future repayments of the public debt of the States and Territories will be effected through the Debt Retirement Reserve Trust Account. The repurchase or redemption of the public debt of the Commonwealth will be made from either the Consolidated Revenue Fund or the Loan Fund (ie repaid from the proceeds of new borrowings).

16

TRUST FUND

Table 7 Summary *

Receipts and Expenditure Investments

Notional Balance at 1 July 1994 Receipts Expenditure

Notional Balance at 30 June 1995

Opening Balance at 1 July 1994 Purchase of

Investments

G ro u p 1

$ $ $ $ $ $

C om m onw ealth S u p erannuation F und N o.2 (a) 3,700,316,525 3,700,316,525 - 3,687,910,426

O ther 335,820,345 2,209,890,093 2,194,519,275 351,191,164 204,216,653 99,780,523

Realisation of

Investments $

3,687,910,426

221,181,911

Closing Balance

30 June 1995 $

82,815,264

Cash

Balance

30 June 1995 $

268,375,899

T o tal G ro u p 1

G roup 2

G roup 3 L oan C onsolidation and Investm ent R eserve O ther

4,036,136,870 2,209,890,093 5,894,835,800 351,191,164 3,892,127,079 99,780,523

495,134,192 3,388,057,619 3,446,238,670 436,953,141 246,336,192 3,187,000

2,666,032,637 98,175,286

132,044,340 2,425,399,147

35,169,162 2,231,122,392 2,762,907,816 292,452,041

2, 658,944,948

44,165,578 2,110,456,688 540,130,139

3,909,092,337

246,336,192

2,584,670,902 353,723,221

82,815,264

3,187,000

2, 184, 730,733

230,572,495

268,375,899

433,766,141

578,177,083 61,879,546

T o tal G roup 3 2,764,207,924 2,557,443,487 2,266,291,553 3,055,359,858 2,703,110,525 2,650,586,827 2,938,394,123 2,415,303,228 640,056,629

G roup 4 N ational D ebt S inking F und (b ) 153,100,058 5,751,054,129 5,829,095,343 75,058,844 . . . . 75,058,844

Total 7,448,579,044 13,906,445,329 17,436,461,366 3,918,563,007 6,841,573,796 2,753,554,350 7,093,822,652 2,501,305,493 1,417,257,514

* Trust accounts that did not have an opening balance as at 1.7.1994 and for which there was no activity in 1994/95 have not been included in Table 7.

(a) As a result of amendments to the Superannuation Act 1976, on 1 July 1994 the Superannuation Fund ceased to be part of the Trust Fund. See Note (a) of Table 1.

(b) See note at Group 4 on page 16 and Note (a) to Table 2 on page 6.

Trust Fund

Table 7 Group 1 Moneys held in Trust for Persons & Authorities other than the Commonwealth

Receipts and Expenditure Investments

Notional Balance at 1 July 1994 Receipts Expenditure

Notional Balance at 30 June 1995

Opening Balance at 1 July 1994 Purchase of

Investments

$ $ $ $ $ $

.Aboriginals Benefit 30,162,785 30,426,893 26,659,229 33,930,450 30,155,000 64,304,402

Australian Customs Service Security Deposits 1,883,411 14,332,486 10,447,715 5,768,181 . .

Australian Customs Service Tradegate Fees 19,574 5,437,233 5,455,092 1,715

Australian Film Industry 19,993 - 19,993 - - -

Australian Geological Survey Organisation Research 1,832,007 3,475,136 3,520,958 1,786,185 .

Common Investment Fund Equali­ sation Account 167,045 794,342 955,363 6,024 „

Commonwealth Superannuation Fund No.2 (a) * 3,700,316,525 3,700,316,525 3,687,910,426 .

Companies Liquidation Account 41,477 - 41,477 - - -

Consular Services Trust Account 12,334 306,252 292,866 25,721 - -

Defence - Projects for other govern­ ments and international bodies 20,836,890 48,555,150 48,560,501 20,831,540

Defence-Services for non-departmental bodies 2,652,683 17,800,933 18,957,512 1,496,104

Endowments - Defence 138,997 115,764 24,184 230,577 72,053 104,382

- Health 30,087 - - 30,087 - -

Fedorczenko Legacy Fund 101,970 (23,855) (59,387) 137,502 100,048 31,519

Finance - Accounting Services 5,098 79,967,212 79,900,575 71,734 - -

Finance - Provision of accounting services to Concord Hospital NSW 313,452 95,637,384 95,739,318 211,518

Finance - Provision of accounting services to the ACT Government 249,513 628,972,208 628,676,532 545,188

General Insurance Deposits 91,571 - - 91,571 - -

House of Representatives - Training Assistance for parliaments of devel­ oping Commonwealth countries 1,118,629 63,773 31,147 1,151,255 1,117,402 88,691

Income Equalization Deposits 136,840,739 21,223,029 34,797,854 123,265,915 130,000,000 -

Industry, Science and Technology - Projects for other governments and international bodies 2,393,266 13,156,601 14,709,797 840,070

Lloyd's Deposit 500,799 61,729 375 562,153 500,799 136,354

Media Commissions - 1,592,730 1,023,102 569,628 - -

National Child Care Strategy - Australian Capital Territory 92,382 94,490 70,246 116,626

Realisation of

Investments Γ"

6 0 ,5 4 4 ,4 0 2

3,687,910,426

5 6 ,0 9 4

1 3 0,000,000

7 5 ,000

Closing Balance

30 June 1995 $

3 3 ,9 1 5 ,0 0 0

176,435

1 31,567

1,15 0 ,0 0 0

56 2 ,1 5 3

Cash

Balance

30 June 1995 $ 15,450

5,768,181

1,715

1,786,185

6 ,0 2 4

25,721

2 0 ,8 3 1 ,5 4 0

1,49 6 ,1 0 4 5 4 ,1 4 2 3 0 ,0 8 7 5,935

7 1 ,7 3 4

2 1 1 ,5 1 8

5 4 5 ,1 8 8 91,571

1,255

123,2 6 5 ,9 1 5

8 4 0 ,0 7 0

56 9 ,6 2 8

116,626

Trust Fund Table 7 Group 1 - continued Receipts and Expenditure Investments

Notional Balance at 1 July 1994 Receipts Expenditure

Notional Balance at 30 June 1995

Opening Balance at 1 July 1994 Purchase of

Investments

$ $ $ $ $ $

Queensland 570,096 1,150,280 866,022 854.354 - -

Tasmania 39,114 12,786 45,975 5,925 - -

Victoria 66,282 650,842 648,751 68,373 - -

Western Australia 87,172 408,880 380,508 115,544 - -

National Film and Sound Archive Fund 2,064,086 337,832 1,204,402 1,197,517 2,032,214 56,175

Nationally Funded Medical Specialty Centres 2,548,468 14,005,272 14,760,739 1,793,001

National Youth Affairs Research Scheme 232,368 36,590 268,958 „ .

Nursing Homes Sales 995,122 1,998,669 614,736 2,379,055 - -

O ther T rust Moneys-House of Representatives . 163,912 163,912

Attorney-General's 844,016 82,100 640,911 285,205 - -

Australian Federal Police 3,005,137 249,754 414,860 2,840,030 - -

Family Court of Australia 23,320 3,340 8,764 17,896 - -

Federal Court of Australia 54,082 67,391 96,373 25,100 - -

Communications and the Arts 91,291 2,324 54,507 39,108 - -

Defence 4,508,393 8,573,883 9,293,988 3,788,287 - -

Veterans' Affairs 133,885 399,691 45,833 487,743 - -

Employment,Education & Training 870,423 751,958 704,829 917,551 - -

Environment, Sport and Territories 1,253,508 301,853 583,327 972,034 - -

Finance 18,537 50,545,343 50,522,293 41,587 - -

Commonwealth Superannuation Administration 4,202,948 21,302,351 20,594,310 4,910,989

Administrative Services 1,951,557 1,815,452 2,527,366 1,239,643 - -

Australian Electoral Commission 51,313 549,025 550,009 50.328 - -

Foreign Affairs and Trade 108,414 157,654 230,825 35.243 - -

Australian International Development Assistance Bureau 197,111 524,321 721,056 377

Housing and Regional Development 86,985 17,422,370 17,387,424 121,931

National Capital Planning Authority 10,007 102,720 24,518 88,209

Fluman Services and Health 728,337 7,503,863 7,302,178 930,022 - -

Immigration and Ethnic Affairs 562,987 893,960 883,118 573,830 - -

Industrial Relations 235,527 86,286 78,981 242,832 - -

Industry, Science and Technology 164,205 368,458 157,123 375,540 - -

Realisation Closing Cash

of Balance Balance

Investments 30 June1995 30 June 1995 $ $ $

- - 8 54,354

- - 5,925

- - 68,373

- - 115,544

9 3 5 ,0 0 3 1,153,385 44,131

- - 1,793,001

- - 2 68,958

2,379,055

285,205

- - 2,84 0 ,0 3 0

- - 17,896

- - 25,100

- - 3 9 ,108

- - 3 ,7 8 8 ,2 8 7

- - 487,743

- - 917,551

- - 9 7 2 ,0 3 4

- - 4 1 ,587

- - 4,91 0 ,9 8 9

- - 1,239,643

- - 50,328

" - 35,243

- ■ 37 7

- - 121,931

- 88,209

- - 9 3 0 ,0 2 2

- - 5 73,830

- 2 4 2 ,8 3 2

- - 3 7 5 ,5 4 0

N> Ο

Receipts and Expenditure___________________________________________Investments_______________

Notional Notional Opening

Balance at Balance at Balance at Purchase of

___________________________________________ 1 July 1994__________ Receipts______ Expenditure 30 June 1995_____ 1 July 1994 Investments

Trust Fund Table 7 Group 1 - continued_______________________________________________________________________________________________________________________________________________________________________

Australian Industrial Property

$ $ $ $ $ $

Organisation 245,089 2,146,908 2,205,060 186,937 - -

Australian Customs Service 13,016,535 (2,184,824) 4,427,012 6,404,699 - -

Primary Industries and Energy 352,647 - 220,458 132,188 - -

Prime Minister and Cabinet 18,510 20,000 25,561 12,950 - -

Social Security 2,999,252 74,320,682 65,757,231 11,562,703 - -

T ourism - 115 30 85 - -

Transport 92,839 20,258 113,096 - - -

Treasury - 13,065 65 13,000 - -

Australian Bureau of Statistics 2,288 21,228 21,101 2,415 - -

Australian Taxation Office Insurance and Superannuation 147,021 37,747 93,586 91,181 “

Commission 4,761 1,115 690 5,186 - -

Trade Practices Commission 441 62,830 29,022 34,249 - -

Political Exchange Program Provision of Salary Services to Repatriation General Hospital Daw

121,097 14,057 107,041

Park, South Australia - 9,384,010 9,289.090 94,920 - -

Public Trustee and Custodian 20,875 - - 20,875 - -

Ranger Rehabilitation Repatriation - Overseas Administrations 40,273,514 5,511,542 45,785,056 40,090,196 35,059,000

Benefits * Services for o th er governm ents and non-departm ental bodies

1,629,883 119,599 1,749,482

Senate 28,394 212,866 207,633 33,627 - -

House of Representatives 3,783 103,469 101,274 5,979 - -

Parliamentary Reporting Staff 3,530 173,023 174,021 2,531 - -

Parliamentary Library 18,403 99,562 110,235 7,730 - -

Joint House Attorney-General's - Australian 116,178 207,316 171,889 151,606 “ “

Securities Commission Attorney-General's - Other than the Australian Securities

818,143 67,696,709 68,110,663 404,189

Commission 440,945 11,283,469 10,941,177 783,237 - -

Administrative Appeals Tribunal 231 20,035 20,035 231 - -

Australian Federal Police 14,951 1,244,995 1,181,943 78,003 - -

Family Court of Australia 52,757 73,997 94,105 32,649 - -

Federal Court of Australia 7,217 59,907 66,275 849 - -

Realisation of

Investments $

Closing Balance

30 June 1995

$

2 9 ,5 7 1 ,4 1 2 4 5 ,5 7 7 ,7 8 4

Cash

Balance

30 June 1995 $

186,937 6 ,4 0 4 ,6 9 9 1 32,188 12,950 11,562,703

85

13,000 2,415 91,181

5,186 3 4 ,2 4 9 107,041

9 4 ,9 2 0 2 0 ,875 2 0 7 ,2 7 2

3 3 ,6 2 7 5,9 7 9 2,531 7,7 3 0 151,606

4 0 4 ,1 8 9

7 8 3 ,2 3 7 231 7 8 ,003 3 2 ,6 4 9

849

Trust Fund Table 7 Group 1 - continued Receipts and Expenditure Investments

Notional Notional Opening

Balance at Balance at Balance at Purchase of

1 July 1994 Receipts Expenditure 30 June 1995 1 July 1994 Investments

$ $ $ $ $ $

Human Rights and Equal Opportunity Commission 4,441 39,101 42,993 549 - -

National Crime Authority 113,477 192,136 116,166 189,446 - -

Office of Parliamentary Counsel Director of Public Prosecutions 5,187 20,474 25,661 - - -

(COMCARE) 12,100 91,969 79,118 24,951 - -

Communications and the Arts 14,212 94,781,620 93,742,924 1,052,908 - -

Spectrum Management Agency 31,746 134,303 90,218 75,831 - -

Veterans' Affairs Employment, Education and

11,418 10,356,300 10,224,974 142,743

Training 2,456,921 28,205,736 25,311,424 5,351,234 - -

Environment, Sport and Territories 5,095,788 32,066,862 32,756,625 4,406,025 - -

Finance 140,688 5,990,356 5,966,105 164,939 - -

Australian National Audit Office Commonwealth Superannuation 98,941 340,173 310,488 128,625 - -

Administration 1,479,862 476,288,388 475,542,295 2,225,955 - -

Administrative Services 22,550,741 57,163,746 49,055,927 30,658,560 - -

Australian Electoral Commission 510,660 345,762 727,060 129,362 - -

Foreign Affairs and Trade 36,993 348,056 349,932 35,116 - -

Foreign Affairs & Trade (Austrade) 1,302,430 53,624,945 54,430,493 496,882 - -

Australian International Develop­ ment Assistance Bureau 22,634 243,237 226,568 39,303

Housing and Regional Development - 70,541 57,174 13,367 - -

Human Services and Health 809,903 34,568,725 34,340,219 1,038,409 - -

Immigration and Ethnic Affairs 154,287 680,236 676,703 157,820 - -

Industrial Relations 54,414 11,594,938 11,592,968 56,384 - -

Australian Industrial Registry 5,489 42,710 39,049 9,150 - -

Industry, Science and Technology 426,323 3,743,423 3,831,539 338,207 - -

Australian Industrial Property Organisation 114,253 161,039 241,551 33,741 - -

Australian Customs Service 132,021 1,277,354 1,211,516 197,859 - -

Primary Industries and Energy 1,706,874 9,527,032 9,628,128 1,605,778 - -

Prime Minister and Cabinet 620,693 64,740,123 64,886,606 474,210 - -

Governor-General's Office 8,990 19,783 - 28,773 - -

Public Service Commission 332,020 174,181 325,902 180,299 - -

Social Security 8,460,440 54,592,430 46,683,574 16,369,296 - -

Tourism - 54,533 53,632 900 - -

Realisation Closing Cash

of Balance Balance

Investments 30 June 1995 30 June 1995 $ $ $

549

- - 189,446

24,951

- - 1,05 2 ,9 0 8

- - 75,831

- - 142,743

- - 5 ,3 5 1 ,2 3 4

- - 4 ,4 0 6 ,0 2 5

- - 164,939

- - 128,625

- - 2 ,2 2 5 ,9 5 5

- - 3 0 ,6 5 8 ,5 6 0

- - 129,362

- - 3 5 ,1 1 6

- - 4 9 6 ,8 8 2

- - 3 9 ,3 0 3

- , 13,367

- - 1,038,409

- - 157,820

- - 5 6 ,3 8 4

- - 9,1 5 0

- - 3 3 8 ,2 0 7

- - 33,741

- - 197,859

- - 1,60 5 ,7 7 8

- - 4 7 4 ,2 1 0

- - 2 8 ,773

- - 180,299

- - 1 6 ,369,296

- - 90 0

Trust Fund

Table 7 Group 1 - continued Receipts and Expenditure Investments

Notional Balance at 1 July 1994 Receipts Expenditure

Notional Balance at 30 June 1995

Opening Balance at 1 July 1994 Purchase of

Investments

$ $ $ $ $ $

Transport 698,043 945,380 1,005,431 637,992 - -

Treasury 5,567 161,832 162,885 4,514 - -

Australian Bureau of Statistics 120,072 670,648 678,725 111,995 - -

Australian Taxation Office (COMCARE) 697,355 2,824,297 2,569,731 951,921

Industry Commission (COMCARE) 1,426 125,090 105,278 21,238

Insurance and Superannuation Commission 64,830 64,830

Prices Surveillance Authority (COMCARE) 1 1 .

Trade Practices Commission 1.623 66,960 68,583 - - -

Trustee Companies (ACT) Deposits 149,140 - - 149,140 148,940 -

Young Endeavour Youth Program 1,794,495 442,572 839,399 1,397,668 - -

Total: Group 1 4,036,136,870 2,209,890,093 5,894,835,800 351,191,164 3,892,127,079 99,780,523

Realisation of

Investments $

3,909,092,337

Closing Cash

Balance Balance

30 June 1995 30 June 1995 $ $

6 3 7 ,9 9 2 4,5 1 4 111,995

951,921

2 1 ,2 3 8

1

148.940 200

1,397,668

82,815,264 268,375,899 *

* - These Trust Accounts were closed during the financial year.

(a) As a result of amendments to the Superannuation Act 1976, on 1 July 1994 the Superannuation Fund ceased to be part of the Trust Fund.

Trust Fund Table 7 Group 2 Working Accounts Covering Certain Services Conducted on a Commercial Basis Receipts and Expenditure Investments

Notional Balance at I July 1994 Receipts Expenditure

Notional Opening Realisation Closing Cash

Balance at Balance at Purchase of of Balance Balance

30 June 1995_____ 1 July 1994 Investments_____ Investments 30 June 1995 30 June 1995

Artbank Trust Account Auscript Australia Abroad Council Australian Govt. Health Services Australian Health Ministers' Advisory

Council Australian Industrial Property Organisation Australian Property Group

Australian Protective Service Australian Quarantine and Inspection Service Australian Building Codes Board Business Services Trust Account Campaign Reserve COMCAR

DSTO Commercial Activities Health and Community Services Ministerial Council Legal Practice Trust Account

Public Sector Management Course Rehabilitation Service Repatriation Canteens * Repatriation Hospitals - Concord *

Daw Park * Greenslopes * Heidelberg * Hollywood * Kenmore * Lady Davidson

Macleod *

Royal Australian Mint and Coinage Therapeutic Goods Administration Transport and Storage Group Property Rationalisation

$

384,003 1,576,525 4,082 4,261,448

161,578

7,747,456 85,719,928 27,196,787

7,425,432 3,149,109 256,303,866 646

1,032,444

13,601,273 437,008 6,279,888 272,607

1,558,550 3,892,143 6,312,829 6,185,035 43,018,647

2,408,666 1,880,096 600,885 1,000,000 3,142,444

9,580,818

$

1,161,806 17,108,861

31,511,265

56,717,104 1,220,447,592 55,806,805

186,604,136 1,048,916 1,140,045,346 1,336,310

26,457,390 2,095,484

2,569,473 121,597,849 214,033 146,646,724

563,104 80,000

45,672,096 79,828,153 76,963,180 25,504

9,516

17,510,481

108,365,416 42,653,824

5,017,251

$

1,151,149 17,145,805 2,306 24,893,713

161,578

51,990,758 1,200,849,711 75,484,232

171,137,683 1,797,063 1,186,109,123 916,769

24,199,963 2,224,642

2,448,043 111,438,584 478,176 133,223,923

835,711 1,638,550 49,564,239 86,140,982 83,148,215 43,044,150

2,418,182 16,547,677 600,885 108,461,533

36,917,732

$ $

394,660 -

1,539,581 -

1,776 -

10,879,000 -

12,473,803 -

105,317,810 -

7,519,359 -

22,891,886 -

2,400,962 -

210,240,089 246,100,000 420,186 -

2,257,427 -

903,287 -

121,430 -

23,760,537 -

172,865 -

19,702,690 -

$ $

246,100,000

236,192 236,192

2,842,900

903,883 8,878,537 3,187,000 3,187,000

$

394,660 1,539,581 1,776 10,879,000

12,473,803 105,317,810 7,519,359

22,891,886 2,400,962 210,240,089 420,186

2,257,427 903,287

121,430 23,760,537 172,865 19,702,690

11,267,596 3,330,474

2,842,900

903,883 5,691,537

3,330,474

Total: Group 2 495,134,192 3,388,057,619 3,446,238,670 436,953,141 246,336,192 3,187,000 246,336,192 3,187,000 433,766,141

- These Trust Accounts were closed during the financial year.

to 4^

Table 7 Group 3 Other Moneys (Not in Groups 1 or 2) Held in Trust Under the Authority of Parliament to meet Future Expenditure Trust Fund

Receipts and Expenditure___________________________________________Investments_____________________________________________________________

Notional Notional Opening Realisation Closing Cash

Balance at Balance at Balance at Purchase of of Balance Balance

1 July 1994__________ Receipts______ Expenditure 3Q June 1995_____ 1 July 1994 Investments

Aboriginal and Torres Strait

$ $ $ $ $ $

Islander Land Fund - 208,168,745 25,000,000 183,168,745 - 465,348,524

Australia-China Council 212,930 692,312 584,931 320,311 - -

Australia-France Endowment 1,119,560 69,553 62,231 1,126,882 1,105,000 -

Australia-India Council 171,162 863,781 843,682 191,261 - -

Australia-Japan Fund 222,957

Australia-Japan Joint Feasibility Study into 998,448 1,039,275 182,131 -

the Multifunction Polis Proposal 283,301 24,948 - 308,249 - -

Australia-Korea Foundation 644,520 800,050 1,411,030 33,539 - -

Australia-New Zealand Foundation 95,196 174,000 187,583 81,613 - -

Australia Remembers -

Australian and New Zealand Environment

68,231 25,000 43,231 - -

and Conservation Council Fund 1,303,705 Australian and New Zealand Minerals and 682,603 645,890 1,340,418 - -

Energy Council Energy Sector Australian Centre for International 1,153,730 14,685 43,400 1,125,015 - -

Agricultural Research Australian Federal Police Sponsored 1,617,313 36,741,461 36,007,712 2,351,062 - -

Activities 100,978 369,553 304,094 166,437 - -

Australian Housing Research Fund 486,296 25,829 129,240 382,886 - -

Australian-Indonesia Institute T/A Australian International Education Foundation International

103,058 1,001,361 868,873 235,546

Marketing Australian Land Transport

5,935,100 1,417,317 4,517,782 " -

Development Australian Population and Migration '

820,000,000 820,000,000 "

Research Program 215,700 91,108 64,168 242,640 - -

Building Research 363,366 - 72,464 290,902 - -

Bureau of Tourism Research 536,719 2,729,173 2,179,500 1,086,393 - -

Child Support Agency Christmas Island Community Benefit 20,933,876 318,967,334 321,283,023 18,618,187 - -

Fee 637,437 1,177,655 - 1,815,092 - -

Christmas Island Special Fund 338,553 - - 338,553 - -

Companies Unclaimed Money 4,161,781 5,424 4,167,205 - - -

Confiscated Assets Contributions to the National Science 11,663,873 3,628,254 1,552,800 13,739,327 - -

and Technology Centre 797,082 1,188,227 614,070 1,371,239 670,922 928,020

Investments $H

282,179,779

446,880

30 June 1995 $

183,168,745

1,105,000

1.152,062

30 June 1995 $

320,311 21,882 191,261 182,131

308,249 33,539 81,613 43,231

1,340,418

1,125,015

2,351,062

166,437 382,886 235,546

4,517,782

242,640 290,902 1,086,393 18,618,187

1,815,092 338,553

13,739,327

219,177

Trust Fund Table 7 Group 3 - continued Receipts and Expenditure__________________________________________ Investments_____________________________________________________________

Notional Notional Opening Realisation Closing Cash

Balance at Balance at Balance at Purchase of of Balance Balance

1 July 1994__________ Receipts______ Expenditure 30 June 1995_____ 1 July 1994

$ $ $ $ $

Cultural Ministers' Council 447,781 787,150 546,089 688,843 -

Defence Service Homes Insurance 16,927,820 34,272,848 30,695,714 20,504,954 16,539,655 Defence Support Centre, Woomera 1,691,351 20,057,523 19,564,613 2,184,261 -

Exotic Animal Disease Preparedness 524,953 1,588,295 1,174,390 938,857 448,000

Forestry 94,204 8,433 30,000 72,637 94,000

Higher Education - 730,590,783 730,590,783 - -

Housing Costs Action Program 176,615 11,702 30,229 158,089 -

Human Pituitary Hormones - 5,000,000 - 5,000,000 -

Interstate Road Transport - 23,590,909 23,590,909 - -

Joint Accreditation Scheme - Australia/ New Zealand 414,874 804,833 695,795 523,912 205,000

Law Enforcement Projects - Attorney-General’s Department (Office of Narcotics Control Board) 530,000 308,159 221,841

Australian Federal Police 2,285,074 - 998,572 1,286,502 -

Australian Transaction Reports and Analysis Centre 414,347 285,133 129,214

National Crime Authority 91,000 715,000 233,141 572,859 -

Director of Public Prosecutions 179,264 11,570 139,908 50,926 -

Australian Taxation Office - 76,000 76,000 - -

Trade Practices Commission 34,599 - 31,411 3,188 -

Loan Consolidation and Investment Reserve 2,666,032,637 132,044,340 35,169,162 2,762,907,816 2,658,944,948

Louisa Jane Cave Bequest Fund 7,242 - 3,260 3,981 -

Medical Research Endowment Fund 63,941 119,135,525 119,177,354 22,113 -

Ministerial Publications 5,423 9,829 12,162 3,090 -

National Cattle Disease Eradication 20,501,304 7,101,918 8,370,126 19,233,095 20,199,000

National Fitness * 129 - 129 - -

National Housing Research Fund - 200,000 100,000 100,000 -

National Residue Survey 2,162,016 6,750,313 4,335,879 4,576,450 2,150,000

Natural Resources Management Fund 2,566,985 2,997,223 3,299,230 2,264,978 2,543,000

Northern Territory Debt Sinking Fund 168,612 65,572,527 65,731,765 9,374

Poultry Industry 211,991 14,673 - 226,664 211,000

Investments $

14,700,000

2,315,000 172,000

240,595

2,110,456,688

49,620,000

900.000

5,455,000

451.000

Investments 30 June 1995 30 June 1995 $

10,771,562

2,763,000 194.000

205.000

2,584,670,902

50,985,000

5,742,000

436,000

$

20,468,093

72,000

240,595

2,184,730,733

18,834,000

3.050.000

2.256.000

226,000

$

688,843 36,860 2,184,261 938,857

637

158,089 5,000,000

283,317

221,841 1,286,502

129,214 572,859 50,926

3,188

578,177,083 3,981 22,113 3,090 399,095

100,000 1,526,450

8,978

9,374 664

Realisation Closing Cash

Purchase of of Balance Balance

Investments_____ Investments 30 June 1995 30 June 1995 $ $ $ Γ "

33,662 565,109

2,650,586,827 2,938,394,123 2,415,303,228 640,056,629

Realisation Closing Cash

Purchase of of Balance Balance

Investments Investments 30 June 1995 30 June 1995

$ $ $ $~~

75,058,844

behalf of the NDSF from the Commonwealth Public Account not

LOAN FUND

Section 55 of the Audit Act 1901 provides that a separate account, called the Loan Fund, shall be kept of all moneys raised by way of loan upon the public credit of the Commonwealth, other than moneys raised bv way of advances made by banks in pursuance of agreements under section 20 of the Act. The Fund is kept under such separate heads as are specified in the Loan Acts under the

authority of which the moneys are raised. Moneys standing to the credit of the Loan Fund may be expended only under the authority of an Act.

A summary of the receipts and expenditure of the Loan Fund is set out in Table 8.

The Parliament has power to make laws for borrowing money under section 51 (iv) of the Commonwealth o f Australia Constitution Act 1901. Financial Agreements between the Commonwealth and the States provide for the establishment of the Australian Loan Council which determines the annual borrowing programs for the year, the allocation of loan funds and the arrangements for conversion, renewal or redemption of the public debt of the Commonwealth and of the States. No borrowings are made otherwise than in accordance with the provisions of the agreements except borrowings for defence and for temporary purposes which are expressly excluded from those provisions. Until 1989-90, subject to minor exceptions, the Commonwealth Government arranged all borrowings and redemptions on behalf of the State Governments. However, at its June

1990 Loan Council meeting, it was decided that from 1 July 1990. the States would be redeeming their maturing debt rather than meeting the bulk of their debt obligations through the new issue of debt by the Commonwealth.

Securities denominated in Australian Dollars currently issued for public borrowings comprise Treasury (Fixed Coupon) Bonds, Treasury (Adjustable Rate) Bonds. Treasury Indexed Bonds and Treasury Notes issued in accordance with the Commonwealth Inscribed Stock Act 1911. Securities denominated in overseas currencies are issued in accordance with the Loan Securities Act 1919. Details of Government Securities on Issue at 30 June 1995 are provided at Table 12 in Section IV.

Treasury (Fixed Coupon) Bonds, Treasury (Adjustable Rate) Bonds and Treasury Indexed Bonds are marketable securities issued by periodic tender and may be freely transferred throughout Australia. Treasury (Fixed Coupon) Bonds are medium to long term securities which carry a rate of interest fixed over the life of the security payable on the face (or par) value of the security and are

repayable at face value on maturity. Treasury (Adjustable Rate) Bonds are a medium to long term investment which carry an interest rate, adjusted quarterly in line with movements in Bank Bill rates, on the face value of the security and are repayable at face value on maturity. Treasury Indexed Bonds are also medium to long term securities and are issued in the form of Capital Indexed Bonds. The nominal value of the securities, on which a fixed rate of interest applies, varies over time according to movements in the Consumer Price Index. At maturity the adjusted capital value of the Bonds is repaid. In the past, Treasury Indexed Bonds were also issued in the form of Interest

Indexed Bonds which carry a nominal rate of interest which varies over time according to movements in the Consumer Price Index and are repayable at face value on maturity .

Treasury Notes are issued by periodic tenders (usually weekly), with maturities of 5. 13 or 26 weeks at a discount determined in the tender process. They are freely transferable throughout Australia and are redeemable at par on maturity. Treasury Notes are primarily used to finance within-year differences in timing between the Government's expenditure and revenue collections.

Internal Treasury Bills are a form of security available for the investment of Trust Fund cash surpluses to help finance any potential deficits in the Consolidated Revenue or Loan Funds.

The Commonwealth has not borrowed through the issue of securities denominated in foreign currencies since 1987. Outstanding borrowings are denominated in a variety of currencies and were issued with medium to long term maturities.

Interest on securities is a charge on the Consolidated Revenue Fund.

28

Table 8 Loan Fund Summary

Receipts/ Expenditure

Balance at 1 July 1994

$

48,786

Add Receipts 1994-95: Loans raised in Australia: Treasury Bonds 19,250,723,186

Treasury (Adjustable Rate) Bonds 3,697,602,779

Treasury Notes 58,362,579,065

Income Equalization Deposits (a) 69.016,894

Peace Savings Certificates -

Premiums on Issue of Commonwealth Securities 556,930,006

Indexed Bonds 471,082,909

Internal Treasury Bills Repayments from the Consolidated Revenue Fund under

5,302,560,000

subsection 3(2) of the Loan (Temporary Revenue Deficits) Act 1953 (b) 27,965,390,012

Total Loan Raisings 115,675,884,849

115,675,933,635

Less Expenditure 1994-95: Loan (Income Equalization Deposits) Act 1976 - Repayment of Income Equalization Deposits (a) Defence Services expenditures included in Appropriation Acts (No.l)

21,223,029

and (No.3) 1994-95 met from the Loan Fund (b) 6,000,000,000

Loan Act 1994, section 7 (b) Redemptions:

12,992,010,046

Loans Redemption and Conversion Act 1921: Australian Savings Bonds and Special Bonds 53,855,650

Internal Treasury Bills 6,053,400,000

Treasury' Bonds 2,043,099,998

Treasury Notes 60.538,058,555

Loan Flotation Expenses 4,282,052

Discounts on Treasury Bonds Redeemed 4,591,054

Discounts on Overseas Borrowings Redeemed Payments to the Consolidated Revenue Fund under subsection 3(1) of the Loan (Temporary Revenue Deficits) Act 1953 (b) 27,965,390,012

Total Loan Fund Payments 115,675,910396

Balance at 30 June 1995 23,239

(a) These items are recorded in the Department o f Primary Industries and Energy financial statements. (b) These items are recorded in the Department o f Finance financial statements. All other Loan Fund transactions are included in the Department of the Treasury financial statements.

29

S e c tio n II - B u d g e t O u tc o m e 1 9 9 4 -9 5 In the Budget Statements the basic distinction is made between 'above' and 'below' the line transactions. • 'Above the line' transactions comprise outlays and revenue; the difference between which is the budget

balance (surplus/deficit). • Below the line' transactions are undertaken to finance a deficit or utilise a surplus.

Outlays and revenue are economic concepts expressed as net amounts. Those terms, indicating money flows (relative to the CPA) relate to payments (out) and receipts (in).

Outlays show the net extent to which resources flow out from the Budget to other sectors of the economy for purposes of purchase of goods and services or transfer of income - they consist of above the line payments and receipts.

Revenue shows the net extent to which resources flow into the Budget from other sectors of the economy - while basically composed of above the line receipts, they are net of tax refunds (payments).

The result is shown at Figure 2.

Contributions to all Budget outlays and revenue arise from the receipts and expenditure of the Consolidated Revenue Fund, the Loan Fund and the Trust Fund. It can be seen from Figure 2 that in measuring both outlays and revenue, some netting off of items occurs. Thus some receipts ($13 . lb in 1994-95) are offset against payments in measuring outlays and some payments ($ 10.0b in 1994-95) are offset against receipts in measuring revenue. The definition of outlays and revenue used in the budget accord with Australian Bureau of Statistics standards which are based on International Monetaiy Fund and United Nations statistical practices.

Table 9 reflects the allocation of Consolidated Revenue Fund receipts and expenditure as shown in Table 1 of this statement over major Budget functions in terms of outlays and revenue together with information on net contributions to Budget totals arising from transactions of the Loan Fund and Trust Fund. Table 10 shows a reconciliation of the total expenditure from the Consolidated Revenue Fund and Budget Outlays, whilst Table 11 shows a reconciliation between total receipts of the Consolidated Revenue Fund and Budget Revenue.

F ig u re 2

PAYMENTS from the Commonwealth Public Account

V Ak Ak Ak J

$10.0b $134.9b $159.9b

r

Commonwealth Public Account (1994-95) $110. lb $121.8b $116b

/ i f i l l s N BALANCE

mmmm — ......................... (OUT! AYS) $-11.6b / ■ ' U N A N C t N O X

V Ak >k Ak J

$120.lb $13.lb $171.5b

r A

RECEIPTSof the Commonwealth Public Account

30

BUDGET OUTCOME 1994-95 The following tables reflect a reconciliation of the transactions of the three Funds with the Budget outcome in terms of Outlays and Revenue.

Table 9 Reconciliation of the transactions of the Consolidated Revenue Fund, Loan Fund and Trust Fund with Budget Outlays and Revenue 1994-95 (a)

Budget Statement Heading or Function

Consolidated Revenue Fund Expenditure

Receipts Cr (b)Dr

Net transactions of Loan Fund Dr Net transactions of Trust Fund Cr Total

$m $m $m $m $m

Outlays-1. Defence 606.9 4,338.3 6,000.0 0.4 9.731.1

2. Education 53.1 10,174.0 - 4.5 10,116.4

3. Health 125.1 17,214.4 - (61.2) Dr 17,150.4

4. Social Security and Welfare 102.6 43,594.1 - 190.5 43,301.0

5. Housing and Community Amenities 36.2 1,231.0 - 79.1 1,115.7

6. Culture and Recreation 117.9 1,381.5 - 0.3 1,263.4

7. Economic Services-A Transport and Communication 474.2 1,756.1 - - 1,281.9

B Industry Assistance and Development 76.4 3,768.9 - 15.9 3,676.6

C Labour and Employment 34.4 3,136.1 - (2.5) D r 3.104.1

D Other Economic Services 61.6 353.2 1.5 290.1

8. General Public Services-A Legislative Services 10.7 422.8 - - 412.1

B Law, Order and Public Safety 88.2 934.0 - (11.4) D r 857.1

C Foreign Affairs and Overseas Aid 79.7 2,233.2 - 0.9 2,152.6

D General and Scientific Research n.e.c. 6.4 1,056.4 - - 1,050.0

E Administrative Services 2,246.8 5.454.5 4.3 (26.8) D r 3,238.8

9. Not allocated to Function-A Assistance to Other Governments n.e.c. 22.4 16,967.7 - 1,871.8 15,073.5

B Public Debt Interest 831.8 9,363.9 (552.3) Cr (25.6) D r 8.005.4

C Asset Sales 153.6 94.3 - - (59.3) C r

T otal Outlays 5,128.1 123,474.3 5,451.9 2,037.4 121,760.8

Revenue-Taxation Revenue (c) 105,704.3 313.3 - 19.4 (105,410.4) Cr

Interest, Rent. Dividends and Royalties 4,718.1 10.8 - 16.4 (4,723.7) Cr

Total Revenue 110,422.3 324.1 - 35.9 110,134.1 C r

Deficit (d) 11,626.7

Financing Transactions 45,627.4 37,379.5 (5,451.9) Cr (1,252.3) D r 12,447.6 Cr

Fund Totals 161,177.9 161,177.9 - 820.9 820.9 Cr

(a) This table was prepared on the basis of functional classification conventions applicable at the time of the 1994-95 Budget. (b) Some transfers between Consolidated Revenue Fund and Trust Fund which may be used to finance final outlays under more than one Budget Statement heading are offset under the heading to which most o f the final outlay relates. The Consolidated Revenue Fund payment and Trust Fund receipt are offset against one another and payments from the Trust Fund are allocated to

appropriate Budget Statement headings. Certain items which are netted in appropriations have been shown in gross form in some elements of the Consolidated Revenue Fund payments column. The offsetting credits are also included in the column. (c) Taxation Revenue includes certain receipts which are classified as Taxation Revenue for Budget purposes, but which are excluded from Table 4 as they are not considered to be taxes in the legal sense of the word.

(d) The Budget deficit of $11 626.7m has been met by the financing transactions of the three Funds totalling $ 12 447.6m plus an increase in cash balances of $820.9m.

31

Table 10 Reconciliation between Outlays in Table 9 and Expenditure from Appropriations of the Consolidated Revenue Fund 1994-95

Appropriations Special Appropriations Appropriation Acts (No.l and 3) 1994-95 Appropriation Acts (No.2 and 4) 1994-95 Appropriation (Parliamentary Departments) Acts 1994-95

$m $m

133,487.9 23,239.1 4,321.6 129.2

Total Consolidated Revenue Fund expenditure (as per Table 3) 161,177.9

Less amounts appropriated and included in CRF expenditure but not included in outlays (a) Payments from CRF classified as financing transactions (as per Table 9) 37,379.5

Payments from CRF which have been netted against budget receipts and classified as revenue (b) ___________324.1________ 37,703.6

Total outlays from CRF 123,474.3

Less CRF receipts offset within outlays (c) _______ 5,128.1

Outlays funded from CRF 118,346.2

Add outlays from other funds Outlays handed from Loan Fund 5,451.9

Outlays funded from movement in Trust Fund Balances (d) _______ 2,037.4 C r

Total outlays as per Table 9 121,760.8

(a) This removes CRF payment items which have been classified as financing transactions rather than outlays because they are con­ sidered to be closely related to the raising of loans or comprise transactions involving other financial assets and liabilities. These include items such as the payment of superannuation pensions of former employees of the Postal and Telecommunications Corp­ oration and transfers to the National Debt Sinking Fund or the Loan Consolidation and Investment Reserve to either repurchase current Commonwealth securities or to meet the cost of redeeming maturing Commonwealth Securities. This adjustment also takes account of the principal portion of payments by various statutory authorities on loans made by the Commonwealth on their

behalf.

(b) This removes items of expenditure from CRF which do not form part of outlays because they are considered to be closely related to certain revenue items or relate to refunds of receipts and are therefore shown as offsets to the revenue side of the budget. (c) This adjustment places payments on a 'net' basis (ie outlays) by subtracting receipts items which are defined as offsets within out­ lays because they are considered to be charges for goods and services or are proceeds from the sale of assets or repayments of

advances. (d) This adjustment adds the movement in trust account balances which is classified as outlays. When trust account payments exceed trust account receipts classified as outlays this adjustment will increase total outlays. In the reverse situation this adjustment will have the effect of reducing total outlays.

32

Table 11 Reconciliation between Revenue in Table 9 and Receipts of the Consolidated Revenue Fund 1994-95 $m $m

Receipts of the Consolidated Revenue Fund 181,726.5

Less Refunds of Receipts Audit Act 1901, section 37A 11,322.7

Taxation Administration Act 1953 9,225.9________20,548.6

Total Net Consolidated Revenue Fund Receipts (as per Table 3) (a) 161,177.9

Less amounts included in CRF receipts but not included in Budget revenues Receipts of CRF classified as financing transactions (as per Table 9) (b) 45,627.4

Receipts of CRF which have been netted against Budget outlays (c) _________ 5,128.1_______ 50,755.5

Total Revenue from CRF (as per Table 9) 110,422.3

Less CRF payments offset against Revenue (as per Table 9) (d) _________ 324.1

Revenue received by the CRF 110,098.2

Add Revenue from the Trust Fund (e) __________ 35.9

Total Budget Revenue as per Table 9 _____ 110,134.1

(a) Budget Paper No. 2, this document and departmental financial statements report principally on net receipts (ie receipts after refunds of receipts have been taken account of). (b) This removes CRF receipt items which have been classified as financing transactions rather than revenue because they are considered to be closely related to loan raising or comprise transactions involving other financial assets and liabilities. These

include items such as the payments of employer superannuation contributions by Australia Post and Telecom. (c) This removes receipts of the CRF which do not form part of budget revenue because they are considered to be charges for goods and services or are proceeds from the sale of assets or repayment of advances. (d) This adjustment places receipts on a 'net' basis (ie revenues) by subtracting items which are defined as offsets within revenue

because they are considered to be closely related to certain revenue items. (e) This adjustment adds the movement in trust account balances which is classified as Revenue. When trust account receipts classified as Revenue exceed trust account payments classified as Revenue this adjustment will increase total revenue. In the

reverse situation this adjustment will have the effect o f reducing total revenue.

33

S e c tio n III - D e te r m in a tio n s by th e M in is te r fo r F in a n c e

DETERMINATION UNDER SECTION 4 OF APPROPRIATION ACT (No.l) 1994-95 I, Kim C. Beazley, Minister of State for Finance, pursuant to section 4 of Appropriation Act (No.l) 1994-95, hereby determine that the sum off $980,000 be issued out of the Consolidated Revenue Fund and applied for the purposes of that section.

KIM C.BEAZLEY

22 June 1995

DETERMINATION UNDER SUBSECTION 10(a) OF APPROPRIATION ACT (No.l) 1994-95 Under subsection 10(a) of the Appropriation Act (No.l) 1994-95 I, Kim Christian Beazley. Minister of State for Finance, hereby determine that the following amount is the amount required for the purposes of the Employment Services Regulatory Authority for the period commencing 19 December 1994 and ending 30 June 1995.

sub-Division

224-01-00 $6,013,365

KIM C. BEAZLEY Minister of State for Finance 23 December 1994

DETERMINATION UNDER SUBSECTION 10(a) OF APPROPRIATION ACT (No.1) 1994-95 Under subsection 10(a) of the Appropriation Act (No.l) 1994-95 I, Kim Christian Beazley, Minister of State for Finance, hereby determine that the following amount is the amount required for the purposes of the Employment Services Regulatory' Authority' for the period commencing 19 December 1994 and ending 30 June 1995.

sub-Division,

224-01-00 $8,000,000

KIM C.BEAZLEY Minister of State for Finance 8 March 1995

WAIVER OF RIGHTS OF COMMONWEALTH APPROVED BY MINISTER FOR FINANCE UNDER SUBSECTION 70C (2)

During 1994-95, the Minister for Finance or his delegate approved, under subsection 70C (2) of the Audit Act 1901, eleven waivers totalling $55,419,199. Of this total, three significant waivers totalling $34,983,479 were related to repayment of loans made to the Northern Territory, Tasmania and South Australia and one waiver of $20,000,000 was in respect of AeroSpace Technologies of Australia.

34

Section IV - F u r th e r in fo r m a tio n r ela tin g to th e F in a n c ia l A ffa ir s o f th e C o m m o n w e a lth GOVERNMENT SECURITIES ON ISSUE

Under the Financial Agreement of 1927 (as amended), debt of the Commonwealth and State governments, with certain exceptions, is represented by the issue of Commonwealth Government Securities (CGS). In May 1986, an agreement was reached with the Northern Territory Government for the formal allocation of securities relating to its borrowing program and associated 'nominal' debt

allocations. For the ACT there has been a nominal allocation of securities in respect of capital advances made to it in 1988-89 and 1989-90, that nominally allocated debt is included as Commonwealth debt. As a consequence of a Loan Council decision in June 1990, there have been

no additional allocations of CGSs to the States and Territories since 30 June 1990.

While in terms of the Financial Agreement and associated agreements, the State and Territorial governments have obligations to repay to the Commonwealth interest and principal repayments on securities issued on their behalf, the payments of interest and principal to bondholders is a charge to the Consolidated Revenue Fund of the Commonwealth. Table 12 provides details of the face value of all CGS on issue on behalf of the Commonwealth, State and Territorial Governments as at 30 June

1995. However, while this is a measure of liabilities evidenced by the issue of CGS, the table cannot be interpreted as a measure of the 'public debt' or 'net public debt' outstanding of the Commonwealth, as (i) with a few exceptions (eg Income Equalization Deposits and some bank loans raised overseas by

the Commonwealth), forms of indebtedness not evidenced by the issue of securities are not included in this table. Consequently, the table overstates the 'net public debt' of the Commonwealth by the amount of specific purpose payments made by the Commonwealth on

terms and conditions involving the payment of interest and repayment of capital to the Commonwealth; (ii) it excludes the debt of Commonwealth statutory authorities and debt of other bodies which has been guaranteed by the Commonwealth; (iii) it includes CGS held by the Reserve Bank, or as an investment by the Commonwealth, which

would be deducted in any calculation of'net public debt' (at 30 June 1995, holdings of CGS by the Commonwealth and its agencies exceeded $16,981 billion); and (iv) all figures are expressed in nominal, or face value terms, whereas some securities were originally issued and some will ultimately be redeemed at prices other than at face value.

In determining the Australian dollar equivalent of overseas denominated debt, a representative rate for the $A against the $US, based on an average of market rates on the last working day of the financial year, has been used. Rates for other currencies have been derived by crossing the $A/$US representative rate with market rates for those currencies on the same day.

35

Table 12 Government Securities on Issue at 30 June 1995 1994 1995

$m $m

For Commonwealth-Repayable in Australian Dollars Treasury Bonds (a) 57,235.6 72,815.5

Treasury Adjustable Rate Bonds - 3.700.0

Treasury Indexed Bonds 2,685.6 3,230.1

Australian Savings Bonds 53.7 -

Income Equalization Deposits 136.9 171.1

Overdue Securities 8.6 10.0

Treasury Notes 16.184.8 14,162.5

Other (b) 129.0 58.1

Sub-Total 76,434.1 94,147.3

Internal Treasury Bills held by LCIR 2,253.2 r 1.502.4

Treasury Bonds held by LCIR 679.6 593.5

Total 79,366.9 r 96,243.2

Repayable in Foreign Currencies (c) Commonwealth holdings (d) 142.1 145.7

Non-Commonwealth holdings 4,434.5 3,172.8

Total 4,576.6 3,318.5

Total Commonwealth Government 83,943.5 r 99,561.7

Net Commonwealth Government (a) 80,868.6 97.320.1

For States and Northern Territory-Repayable in Australian Dollars Treasury Bonds 9.413.2 7,617.5

Australian Savings Bonds 49.8 -

Tax Free Stock 11.1 11.0

State Domestic Raisings 544.6 515.9

Overdue Securities 0.3 0.2

Total 10,019.0 8,144.6

Repayable in Foreign Currencies (c) 1.1 1.1

Total States and NT 10,020.1 8,145.8

Total Commonwealth, States and NT 93,963.6 r 107,707.4

Net Commonwealth, States and NT (a) 90,888.7 105,465.9

(a) N et of holdings of the LCIR.

(b) Loans taken over from the former Canberra Commercial Development Authority and from the Pipeline Authority.

(c) Australian dollar equivalent at 30 June.

(d) Acquired by the LCIR as an investment, since the loan documentation precludes early redemption, r Revised

36

Table 13 - Guarantees of the Commonwealth

The following table shows a summary of information submitted by departments in accordance with Finance Direction 23D relating to specific borrowings supported by Commonwealth guarantee.

Department Borrower

Total Principal amount covered by guarantee

Balance

outstanding at 30 June 1995

Communications and the Arts Australian Broadcasting Corporation 198 500 000 198 500 000

Special Broadcasting Service 39 000 000 39 000 000

Telstra Corporation Ltd 704 701000 717 277000

Defence Defence Housing Authority 313 500 000 313 500 000

Employment, Education and Training Schools 9 906 000 3 979189

Students 556 612 760 556 612 760

Environment, Sport and Territories Northern Territory Government 555 804 600 403 893 300

Primary Industries and Energy Wool International 2 554 000 000 1 618 000 000

Australian Wheat Board 1 497 790 000 1 467 468 000

Snowy Mountains Hydro-electric Authority 272 467000 137 882 000

The Pipeline Authority 20 000 000 -

Queensland Fish Management Authority 40 900 000 13 979 000

Prime Minister and Cabinet Aboriginal and Torres Strait Islander Commission 1050 000 728 780

Transport Australian National Line 45 000 000 45 000 000

Australian National Railways Commission 645 820 719 740 615 027

Civil Aviation Authority 138 800 000 133 175 000

Treasury Commonwealth Bank of Australia (a) 83 613 800 000

Commonwealth Bank Officers Superannuation Corporation (a) 3 976 000 000 Commonwealth Development Bank (a) 1 636 000 000

Papua New Guinea Government 12 130 000 12 130 000

Reserve Bank of Australia (a) 25 607 041 000

(a) All liabilities of these entities are guaranteed by the Commonwealth.

Liabilities - 30 June 1995 The Commonwealth has a range of liabilities that it is required to meet as a result of past transactions or events. These comprise those in respect of employee entitlements such as

superannuation, long service leave and annual leave, and other obligations relating to a broad range of Commonwealth activities.

Details of Finance Leases entered into by departments are reported in their respective financial statements.

Contingent Liabilities and Other Guarantees - 30 June 1995 The following information was submitted by departments in accordance with Finance Direction 23D relating to contingent liabilities of the Commonwealth. Details of other contingent liabilities such as

outstanding common law claims are contained in Departmental financial statements.

Communications and the Arts - As at 30 June 1995 the Commonwealth guarantee against losses for the 'Playing Australia' grant program totalled $441 846 and indemnifications of exhibitions under the Commonwealth Indemnification Scheme totalled $444 097 392. The Commonwealth has also

indemnified Optus Communications Pty Ltd against the possibility of claims arising from promissory notes with a face value of $300 million. These promissory notes, which entitle the Commonwealth or its order to amounts in payment, relate to the sale of AUSSAT in 1992.

The Commonwealth has guaranteed payments from Telstra Corporation Ltd. to the Telecom Superannuation Scheme with a value of $121 million per year for the next 16 years totalling $1 936 million.

37

Finance - The Commonwealth has indemnified a number of banks in Europe and North America and the Reserve Bank of Australia against loss and damage arising from the acceptance of certain Commonwealth cheques bearing a facsimile signature having been impressed thereon without the authority of the Commonwealth.

The Commonwealth Task Forces on Asset Sales within the Department have responsibility for selling various major public assets. In the course of undertaking these various sales, the Commonwealth may offer, or be required to give, certain warranties, guarantees, undertakings or indemnities to facilitate execution of the sales.

Foreign Affairs and Trade - The Commonwealth guarantees the due payment by the Australian Trade Commission (AUSTRADE) of money that is. or may at any time become payable, by AUSTRADE to any person other than the Commonwealth.

Industry, Science and Technology - The Commonwealth guarantees the due payment bv the Export Finance and Insurance Corporation fEFIC) of money that is. or may at any time become, payable by EFIC to any person other than the Commonwealth' The contingent liability totals $5 881" million comprising - contracts of insurance and guarantees $1 945 million, loans $2 964 million and

national interest provisions $972 million.

Contingent liabilities relating to the Australian Industry Development Corporation totalled $3 756 million comprising - $496 million in respect of guarantees provided via letters of credit and $3 260 million in respect of borrowings by the Corporation which are subject to a Commonwealth guarantee.

Primary Industries and Energy - Future payments are made by the Commonwealth to match industry contributions under the Primary Industries and Energy Research and Development Act 1989 which are contingent on certain conditions being met. The contingent liability totals $57 418 000.

Transport - In August 1994 the Minister for Transport announced the government's intention to guarantee ANL's existing debt (of the order of $ 180 million net at the time) and any further draw downs on ANL's $100 million promissory note facility.

Treasury - International Bank for Reconstruction and Development - Uncalled Capital Subscription $3 436.4 million. Asian Development Bank - Uncalled Capital Subscription $3 598.6 million. European Bank for Reconstruction and Development - Uncalled Capital Subscription $115.3 million. International Monetary Fund - Enhanced Structural Adjustment facility $30 million.

Table 14 - List of Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 (Not subject to Audit) The purpose of this listing is to assist readers to place in perspective those Commonwealth controlled bodies covered under this Aggregate Statement, and those that are not. The shaded area identifies

those organisations that operate on the Commonwealth Public Account. The list was circulated to Departments for confirmation of accuracy and completeness as at 30 June 1995.

38

Senate - Services for other governments and non-departmental bodies _____ ___

OTM - House of Representatives Training Assistance for Parliaments of developing Commonwealth countries House of Representatives - Services for other

governments and non-departmental bodies_____:

House of Representatives

Parliamentary Reporting Parliamentary Reporting Staff - Services for other governments and non-departmental bodies_________________________

Parliamentary Library Parliamentary Library - Services for other governments and non-departmental bodies Joint House Joint House - Services for other governments and non-departmental bodies

Attomey-General's Department - Services for Attorney-General's other governments and non-departmental bodies : other than the Australian Securities Commission i Auscript Attorney-General's Department - Services

for other governments and non-departmental bodies - Australian Securities Commission OTM - Attorney-General’s Office of Film and Literature Classification Public Awareness Campaign Companies Liquidation Account Client Moneys Trust Account Attorney-General's Department (Office of

Narcotics Control Board) Law Enforcement Projects Australian Protective Service T/A Companies Unclaimed Money j

Confiscated Assets Trust J .cgal Practice Trust Account _______ ■

TABLE 14 - COMMONWEALTH DEPARTMENTS, TRUSTS, OTHER AGENCIES AND ENTITIES as at 30 JUNE 1995

DEPARTMENTS OF STATE AND OTHER S2AB DEPARTMENTS (N) = does not operate

on CPA

TRUSTS

(all operating on CPA) (may or may not be budget funded)

OTHER PREDOMINANTLY BUDGET FUNDED AGENCIES OPERATING ON THE CPA

PREDOMINANTLY BUDGET FUNDED ENTITIES NOT OPERATING ON THE CPA

OTHER ENTITIES * NOT OPERATING ON THE CPA AND NOT NORMALLY RECEIVING BUDGET FUNDING # = received funds in 1994/95

* THESE ENTITIES INCLUDE COMPANIES AND INCORPORATED ASSOCIATIONS WHICH THE GOVERNMENT CONTROLS. 'Control' means the capacity of an entity to dominate decision making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in achieving the objectives of the controlling entity. *G’ indicates a company limited by guarantee. Percentages shown against chief entities indicate the extent of the Commonwealth's interest in that entity. Percentages shown in respect of a subsidiary or associated company, indicate the interest of the

chief entity in that subsidiary. N.B. Shaded area represents those departments, trusts, agencies and entities operating on the Commonwealth Public Account.

Australian Institute of Criminology Australian Securities Commission Companies and Securities Advisory

Committee Criminology Research Council Co-operative Companies and Securities Scheme High Court of Australia Law Reform Commission

Law Courts Ltd

Table 14 - Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 - continued

Administrative Appeals Tribunal Administrative Appeals Tribunal - Services for :; other governments and non-departmental bodies

OTM - Australian Federal Police Australian Federal Police Law Enforcement Projects Australian Federal Police - Services for other i

governments and non-departmental bodies Australian Federal Police Sponsored Activities

Australian Federal Police Australian. Bureau of Criminal

Intelligence

Australian Security

Organization (N)

Australian Transaction Reports ami Analysis Australian Transaction Reports and Analysis Centre Law Enforcement Projects

Family Court of Australia OTM - Family Court of Australia Family Court of Australia - Services for other governments and non-departmental bodies Federal Court of Australia OTM - Federal Court of Australia

Federal Court of Australia - Services for other governments and non-departmental bodies

Human Rights and Equal Human Rights and Equal Opportunity; Opportunity Commission; Commission - Services for other governments and non-departmental bodies _______

Industrial Relations Court Industrial Relations Court of Australia - Services of Australia: for other governments and non-departmental bodies National Crime Authority > Services for other j National Crime Authority

governments and non-departmental bodies National Crime Authority Law Enforcement Projects______ ___________________

National Native Title National Native Title Tribunal - Services for Tribunal other governments and non-departmental bodies Office of the Director of OTM - Director of Public Prosecutions Public Prosecutions Director of Public Prosecutions Law Enforcement

Projects Director of Public Prosecutions - Services for other governments and non-departmental bodies Office of Parliamentary Counsel - Services for Office of Parliamentary:

other governments and non-departmental bodies

Communications and the Artbank Trust Account National Film and Sound

Archive National Science and Technology Centre

Australian Film Industry National Film and Sound Archive Fund Cultural Ministers' Council Contributions to the National Science and

Technology Centre

Intelligence

-Ambridge P/L -Ambridge Australia P/L -Astra Television P/L -Australia Television P/L Film Australia Ltd Bundanon Trust

100% 100% 100% 100%

100% 100%

Australian Postal Corporation 100% -Sprintpak P/L 100%

-Australian Air Express 75%

-GeoSpend 50%

Telstra Corporation Ltd 100%

-Directory Net Inc 100%

-Navigator Communications P/L 100% -OTC Australia (Priv) Ltd (Sri 100% Lanka) -OTC Electronic Trading P/L 100% -Telecom Finance Ltd 100%

-Telecom Super P/L 100%

-Telecom Technologies P/L 100%

-Telesoft Communications P/L 100% -Telstra Communications Ltd 100% -Telstra Holdings Ltd 100%

-Telstra Inc (USA) 100%

-Telestra International Ltd 100%

-Telstra Inti (HK) Holding Ltd 100% -Telstra (NZ) Ltd 100%

-Transport Communications 100% Australia P/L -Uni-net SP .Zo.o 78%

-QPSX Communications P/L 74% -Lawpoint P/L 60%

-Telstra Systems P/L 60%

-Telecom Messagetech P/L 51%

-Telecom Australia (Saudi) Ltd 50%

Army and Air Force Canteen Service Defence Housing Authority Australian Military Forces Relief T/F Royal Australian Air Force

Veterans' Residences Trust Fund Royal Australian Air Force Welfare Trust Fund Royal Australian Navy Relief T/F

CM TEKP/L 100%

Avalon Airport Geelong P/L 100%

- ASTA Aircraft Services P/L - Pacific Aerospace Corporation Ltd Australian Defence Industries 100% Limited #

RadarscanP/L 100%

-Defence Technology Australia P/L 100%

-ANUTECH P/L

•AMC Search Ltd

100%

Australian American Education G

Foundation 29 Industry Training Committee G

Companies 95 Industry Training Committee Incorporated Associations Contemporary Music Develop­

ment Co Ltd National Center for Vocational Education Research Ltd. Phosphate Mining Co of 100%

Christmas Island Ltd (in liquidation)

-Australian Sports Aid Foundation

Table 14 - Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 - continued

Australian National Audit Office - Services for Australian National Audit Office other governments and non-departmental bodies OTM - Commonwealth Superannuation Administration

Commonwealth Superannuation Administration Services for other governments and non- departmental bodies

Commonwealth Superannuation Administration

Board of Trustees No. 1

■CFM Property Trust

101 Collins Street P/L Baroona P/L Besola P/L Besonol P/L Besula P/L Besute P/L Besuxu P/L Betadi P/L

■Colly Farms Ltd

-Colly Farms Properties P/L -Idameneo (NO. 145) P/L -Idameneo (NO. 157) P/L -Idameneo (NO. 159) P/L -The Tubbo Estate Co P/L -Grosvenor Place P/L

Administrative Services OTM - Administrative Services Administrative Services - Services for other governments and non-departmental bodies COMCAR

Political Exchange Program Media Commissions Australian Property Group T/A Campaign Reserve T/A Business Services T/A

Transport and Storage Group Property Rationalisation T/A

Betana P/L Betedo P/L Beteli P/L Betavu P/L -Betime P/L

Colly Farms Cotton Ltd

Commonwealth Funds Management Ltd ■CFM (ADF) Ltd

-CFML Nominees P/L 100% -Total Risk Management P/L

Trusts for which Commonwealth Funds Management Limited is Trustee and other entities which are ultimately owned by those Trusts: -CFM Retirement Fund -CFM Australian Equities Fund

-CFM Fixed Interest Trust -CFM Cotton Fund -Commonwealth ADF -A E Trethowan P/L -Agriculture Australia P/L -Besoku P/L -Besome P/L -Besori P/L -Besuni P/L -Besuvo P/L -Betabu P/L -Betale P/L -Betaxo P/L -Beteken P/L -Betepa P/L -Betili P/L -Betinal P/L

-Colly Farms Gin P/L -Colly Farms Marketing P/L -Colly Farms Risk Management P/L -Colly Farms Nominees P/L

-The Colly Trust -Colly Houchin Trading Co. -Idameneo (NO. 156) P/L -Idameneo (NO. 158) P/L

100%

100% 100%

Table 14 - Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 - continued

T a b le 1 4 - C o m m o n w e a lth D e p a rtm e n ts, Trusts, O th e r A g e n c ie s a n d E n titie s a s a t 3 0 J u n e 19 9 5 - c o n tin u e d

Committee for the Allocation of G

Loan Funds to Refugees in Centres National Accreditation Authority G for Translating and Interpreting

Stevedoring Industry Finance Committee

Export Finance & Insurance Corp. 100% Advance Australia Foundation G

-Tracerco 49%

-ACARRE 50%

-Dunlea P/L 47%

-Gropep P/L 35.1%

-Preston Group Ltd 16.1%

-Geneshears P/L 34.7%

-Bio-coal Briquette Pty Ltd 17.2%

J Australian Industry Development Corporation 79.06% -Southern Alloys Venture P/L 79.06% -Sydney Light Rail Co. Ltd 79.06% -Light Rail Construction Co. 79.06% -International Parking

79.06% (Liverpool) P/L -Ausmaq Investment 79.06% Holdings Ltd 79.06% -Financial Infrastructure 79.06% Holdings (No.2) P/L 79.06% -International Parking Group P/L 79.06% -International Parking Invest- 79.06% ments P/L

79.06% -International Parking Management 79.06% P/L -International Parking (Sydney) 79.06% P/L

79.06% -Austind Devcorp (HK) Ltd -The China Water Company 79.06% (Haicang) Ltd (incorporated in 79.06% Hong Kong) 79.06% -The China Water Company 79.06% (Haicang) Ltd (incorporated in

79.06% Cayman Islands) 79.06%

79.06% 79.06% 79.06% 79.06%

79.06%

79.06%

79 06% 79 06%

79 06%

79.06%

79 06% 79 06%

79 06%

100%

100%

100%

-Coal Mines Insurance P/L

Snowy Mountains Hydro-electric Authority Pipeline Authority Australian Wine Research Institute Clean Food Marketing Aust.Ltd

Fututech P/L Australian Meat Technology P/L Agribusiness Development Capital P/L

100%

G

100% 50% 50%

50%

-Morr Morr Pastoral Co P/L -Yeperenye P/L -CDC Investments (Tasmanian Aquaculture) P/L -CDC Nominees (Cairns Art) P/L -CDC Nominees (Ceduna) P/L -CDC Nominees (Dandenong) P/L -CDC Nominees (GPIFERRY) P/L

-CDC Nominees (McArthur River) P/L -CDC Nominees (Mt Todd) P/L -CDC Nominees (Nitmiluk) P/L

100% 31% G

51% 80% 100% 100%

100%

100% 100% 100% 100% 100%

100% 100%

-CDC Services P/L -Ngarrindjeri Community Orchard P/L -Torres Strait Islander Investment

Corporation P/L

100% 100%

100%

Australian National Railways Commission National Rail Corporation Australian Maritime Safety

Authority Federal Airports Corporation -Badgerys Creek Airport P/L -FAC Investment P/L

-Airport Fine Foods P/L Civil Aviation Authority -CAA Assets P/L

100% 100% -Rendsburg P/L 100% -River Boyne Chartering Ltd 100% -River Boyne Finance Ltd

100% -River Embley Chartering Ltd 100% -River Embley Finance Ltd 100% -Trans-Umted P/L 100% -Coastal Express Line P/L

#

45.3%

100% 100% 100% 52.5%

100%

100% 100% 100% 100%

100% 100% 50%

100% -Gateway Holdings P/L 50%

100% -Maritime Agencies of Western 50% 100% Australian P/L -Moreton Equipment and Services 50% 100% P/L

100% -Portside United P/L 50%

75% 100% -Qantair Ltd 100%

100% -Qantas Airline Systems and 100%

100% Research Ltd 100% -Qantas Flight Catering Holdings Ltd 100% 100% -Qantas Flight Catering Ltd 100%

100% -Qantas Information Technology Ltd 100% 100% -Qantas Investments (NZ) Ltd 100% 100% -Qantas Investments US Inc. 100%

100% -Qantas Holidays Ltd 100%

100% -Qantas Superannuation Ltd 100%

100% -Qantas Viva! Holidays Ltd 100%

100% -QH Cruises P/L 100%

100% -QH International Co.Ltd 100%

-QH Tours (UK) Ltd 100%

100% -Second Brisbane Airport P/L 100% 100% -Southern Australia Airlines P/L 100% -Southern Cross Insurance 100%

100% Private Ltd -Sunstate Airlines (Qld) P/L 100%

100% -TAA Aviation P/L 100%

100% -TAA Superannuation P/L 100%

100% -Tysentle P/L 100%

100% -Holiday Tours and Travel Ltd 85% 100% -Holiday Tours and Travel 75%

100% Private Ltd 100% -Jetabout Holidays Private Ltd 75% 100% -Cargo Community Systems 55%

100% Australasia P/L 100% -Fantasia Information Network 55% 100% (NZ) Ltd 100% -Fantasia Information Network 55% 100% Ltd

100% -SCDS Holdings P/L 55%

100% -Southern Cross Distribution 55%

100% Systems (NZ) Ltd 100% -Southern Cross Distribution 55%

100% Systems Pty Ltd

-Travel Industries Automated Systems P/L -Travel Industries Automated Systems (NZ) Ltd -P.T.Pacto Holiday Tours Ltd

-Australia Air Express P/L -Caterair Airport Services P/L -Caterair Airport Services (Sydney) Ltd

-Emsys International P/L -Hallmark Aviation Services L.P.

100% 100% 100% 100% 100% 100% 100%

100% 100% 100% 100%

100% 100% 100% 100%

100% 100% 100%

-Sparad (No 13) P/L -Sparad (No 14) P/L -Sparad (No 15) P/L -Sparad (No 16) P/L -Sparad (No 17) P/L -Sparad (No 18) P/L

-Sparad (No 19) P/L -Sparad (No 20) P/L -Sparad (No 21) P/L -Sparad (No 22) P/L

-Sparad (No 23) P/L -Sparad (No 24) P/L -Sparad (No 25) P/L -Sparad (No 26) P/L

-Sparad (No 27) P/L -Sparad (No 28) P/L -Sparad (No 29) P/L -Sparad (No 30) P/L

55%

52.5% 50% 49% 49%

49% 49% 49% 49%

49% 36.75%

24.5% 23.8% 22.5%

20.99% 20%

55%

100% 66.7% 8.1%

100% 100% 100% 100%

100% 100% 100% 100% 100% 100%

100% 100% 100% 100%

100% 100% 100% 100%

100% -Sparad (No 31) P/L 100%

100% -Sparad (No 32) P/L 100%

100% -Sparad (No 100) Ltd 100%

100% -Yeldarb P/L 100%

-Wilshire 10880 Corporation 100% 100% -Wilshire 10960 Corporation 100% 100% -16th Street Corporation 100%

100% -Commonwealth Development 91.9% 100% Bank

-ASB Bank Ltd 75%

100% -Asbco Holdings Ltd 75%

-ASB Finance Ltd 75%

100% -ASB Investments Ltd 75%

100% -ASB Management Services Ltd 75% -ASB Nominees Ltd 75%

100% -ASB Payment Services Ltd 75%

100% -ASB Properties Ltd 75%

100% -ASB Superannuation 75%

100% Nominees Ltd 100% -Dunhill Holdings Ltd 75%

100% -Resources and Investment 51%

100% Finance Ltd 100% -Collateral Sparad Limited GP

100% Partnership (N o.l) 100% -Collateral Sparad Limited GP

100% Partnership (No. 2) 100% -Collateral Sparad Limited GP

100% Partnership (No.3) 100% -Collateral Sparad Limited GP

100% Partnership (No.4) 100% -Collateral Sparad Limited GP

100% Partnership (No.5) 100% -Collateral Sparad Limited GP

100% Partnership (No.6) GP = General Partner

Table 14 - Commonwealth Departments, Trusts, Other Agencies and Entities as at 30 June 1995 - continued

Australian Taxation Office (contd) Australian Taxation Office - Services for other governments and non-departmental bodies

(COMPARE)_________:________________ _

Industry- Commission Industry Commission - Services for other governments and non-departmental bodies (COMPARE) General Insurance Deposits

OTM - Insurance and Superannuation Lloyd's Deposit Insurance and Superannuation Commission: Services for other governments and non- j

Insurance and I Superannuation j Commission j

departmental bodies;

Prices Surveillance; Prices Surveillance Authority - Services for other governments and non-departmental bodies .................... ...........

Authority;

Trade Practices OTM - Trade Practices Commission Trade Practices Commission Law Enforcement: Projects Trade Practices Commission - Services for

other governments and non-departmental bodies

Commission

Series Titles Titles published in the financial year 1995-96

Audit Report No. 15 Financial Statement Audit Aggregate Financial Statement prepared by the Minister for Finance year ended 30 June 1995

Other Titles

Australian National Audit Office Annual Report 1994-95

Audit Report No. 5 Performance Audit Provision of Hearing Services Australian Flearing Services

Audit Report No.6 Performance Audit Community Development Employment Projects Scheme Aboriginal and Torres Strait Islander Commission

Audit Report No.7 Performance Audit Financial Management Department of Veterans’ Affairs

Audit Report No.8 Performance Follow-up Audit Explosive Ordnance Department of Defence

Audit Report No.9 Performance Audit Teleservice Centres Department of Social Security

Audit Report No. 10 Performance Audit Sale of the Moomba to Sydney Gas Pipeline

Audit Report No. 11 Performance Audit Department of Defence Management Audit

Audit Report No. 12 Performance Audit Risk Management by Commonwealth Consumer Product Safety Regulators

Audit Report No. 13 Results of 1994-95 Financial Statements Audits of Commonwealth Entities

Audit Report No. 14 Performance Audit The Sale ofCSL Commonwealth Blood Product

Funding and Regulation

Audit Report No. 1 Performance Audit Income Matching System Australian Taxation Office

Audit Report No.2 Performance Audit Matters Relating to the Proposed Sale of ANL Ltd.

Audit Report No.3 Performance Audit CES Case Management Department of Employment, Education and Training

Audit Report No.4 Performance Audit Department of Social Security Regional Office Resourcing and Benefit Processing

53

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

PARLIAMENTARY PAPER No 22 of 1996 ORDERED TO BE PRINTED

ISSN 0727-4181