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Financial Overview

2004-05 Summary

Defence is required to present three financial statements prepared according to Australian Accounting Standards (Statement of Financial Performance, Statement of Financial Position and Cash Flow Statement). Separately, a Defence resourcing presentation shows the total funds available to Defence in any given year. The total Departmental funding element of this presentation is the most common way of measuring Defence's budget, and is consistent with the presentation of the Defence White Paper, Defence 2000: Our Future Defence Force.

Including all supplementary Additional Estimates, the projected level of resourcing available to Defence in 2004-05 was $19,065m, comprising total departmental funding of $16,627m and a further $2,438m for administered expenses (see also the Portfolio Supplementary Additional Estimates Statements No. 2 2004-05, p.3). The total departmental funding allocation of $16,627m (serial 7) comprised funding from Government for outcomes of $15,808m, an equity injection of $393m, own-source revenue of $333m and net capital receipts of $92m.

Defence's total resourcing for 2004-05 was $476m higher than the projected result comprising $180m in total departmental funding and a further $355m in administered funding. Table 1.1 summarises the total Defence resourcing in 2004-05 compared to the revised additional estimate.
Table 1.1 Total Defence Resourcing 2004-05
Serial
2003-04 2004-05
Actual
Result 		Budget Estimate Revised Estimate Revised Additional Estimate (1) Actual Result Variation
$'000 $'000 $'000 $'000 $'000 $'000
Departmental
1 14,636,157 Revenue from Government for Price of Outcomes 15,625,941 15,729,698 15,808,399 15,749,688 -58,711
2 706,334 Equity Injection 299,025 375,498 393,286 393,286 -
3 15,342,491 Total Revenue from Government (1+2) 15,924,966 16,105,196 16,201,685 16,142,974 -58,711
4 428,849 Own-Source Revenue (2) 330,562 332,835 332,835 499,225 166,390
5 101,961 Net Capital Receipts 91,980 91,980 91,980 105,697 13,717
6 530,810 Sub total 422,542 424,815 424,815 604,922 180,107
7 15,873,301 Total Departmental (3+6) 16,347,508 16,530,011 16,626,500 16,747,896 121,396
Administered
8 2,319,500 Administered Expenses (3) 2,336,900 2,438,350 2,438,350 2,793,453 355,103
9 18,192,801 Total Defence Resourcing (7+8) 18,684,408 18,968,361 19,064,850 19,541,349 476,499

Notes

  1. The Revised Additional Estimate column in all tables shows the full year budget in the Portfolio Additional Estimates Statements 2004-05, including the Portfolio Supplementary Additional Estimates Statements.
  2. Own-source Revenue (serial 4) includes sales of goods and services, interest, net foreign exchange gains, other revenues and resources received free of charge.
  3. Administered funding (serial 8) covers costs associated with the military superannuation schemes, and also covers the provision of housing subsidies to current and retired Defence personnel. The administered appropriation is managed by the Department of Finance and Administration (Commonwealth Superannuation) and the Defence Housing Authority (housing subsidies) on Defence's behalf. More details on administered funding is provided at pp. 33-34.
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