Financial Overview

Resourcing of Defence

2002-03 Funding

Total funding for Defence in 2002-03 was $22,389m (see Table 1.6, serial 9). This comprised funding from the Government for outputs of $18,230m, an equity injection of $995m, own-source revenue of $387m, net capital receipts of $182m, as well as $2,595m in administered appropriations.

The actual result for 2002-03 was $487m higher than the projected result, comprising $129m in total departmental funding and $358m in the administered appropriation. Table 1.6 summarises the actual result for Defence in 2002-03 compared with the projected result which was published in the Portfolio Budget Statements 2003-04.

Administered Appropriation (+$358m)

Administered items are those assets, liabilities, revenues and expenses controlled by the Government and managed or overseen by Defence on behalf of the Government. Details of administered activities and the comparison of actual financial results to budget projections are discussed later in this section.

Military superannuation benefits accounted for $277m of the total variation in the administered appropriation of $358m. This was as a result of the Australian Government Actuary's most recent assessment of military superannuation liability compared with previous estimates.

Table 1.6: Defence Resourcing Summary - 2002-03
s e r i a l	2001-02		2002-03
	Result		Budget Estimate	Revised Estimate	Projected Result	Result	Variation ⁽¹⁾
	$'000		$'000	$'000	$'000	$'000	$'000
	Departmental
1	17,843,477	Revenue from Government for Price of Outputs	18,235,351	18,337,625	18,230,325	18,230,325	-
2	754,175	Equity Injection	1,090,415	1,215,201	995,201	995,201	-
3	18,597,652	Total Revenue from Government (1+2)	19,325,766	19,552,826	19,225,526	19,225,526	-
4	430,043	Own-Source Revenue⁽²⁾	287,105	305,774	330,316	387,481	57,165
5	120,093	Net Capital Receipts⁽³⁾	40,266	63,162	109,482	181,517	72,035
6	550,136	Sub-Total (4+5)	327,371	368,936	439,798	568,998	129,200
7	19,147,788	Total Departmental Funding (3+6)	19,653,137	19,921,762	19,665,324	19,794,524	129,200
	Administered
8	2,289,635	Administered appropriation	2,205,881	2,236,481	2,236,481	2,594,657	358,176
9	21,437,423	Total Defence Resourcing (7+8)	21,859,018	22,158,243	21,901,805	22,389,181	487,376

Note

Variation is based on projected and actual result.
To provide a better reflection of the resourcing of Defence's activities, this calculation includes resources received free of charge and excludes revenues recognising adjustments to the value of existing non-financial assets.
Revenues from sales of assets are included in Net Capital Receipts.