Chapter One - Overview > Financial Overview > page 10 of 16
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Financial Overview

Defence's Cash Position

Current Status of the Appropriation Receivable

During the course of the 2004-05 financial year, the level of cash reserves held in the appropriation receivable reduced from the $779m forecast in the Budget to $539m. This was $47m less than the forecast of $585m. The reasons for the variations are explained in Table 1.6.

Table 1.6 Current Status of the Appropriation Receivable
2004-05
Budget
Estimate		 Revised
Estimate		 Revised
Additional Estimate (1) 		Actual
Result		 Variation
$'000 $'000 $'000 $'000 $'000
2004-05 Opening Appropriation Receivable position 640,915 537,660 537,660 537,660 -
less Cash Outflows
Operation Citadel rephasing -11,100 -11,100 -11,100 -11,100 -
Operation Catalyst rephasing -25,200 -39,800 -39,800 -39,800 -
Operation Anode rephasing - -12,800 -12,800 -12,800 -
Timor-Leste Special Appropriation return - -197 -197 -197 -
Retrospective Foreign Exchange Adjustments - -12,051 -12,051 -12,051 -
Employee liability run-down -34,800 -34,800 -34,800 -18,373 16,427
Additional requirements for 27th pay day - -39,775 -39,775 -39,775 -
Department of Veterans' Affairs transfer of additional administrative costs - - - -114,441 -114,441
Sub-total: Cash Outflows -71,100 -150,523 -150,523 -248,537 -98,014
plus Cash Inflows
Defence Procurement Review reimbursement 5,300 5,300 5,300 5,300 -
Papua New Guinea Defence Force reimbursement 3,700 3,700 3,700 3,700 -
Defence Housing Authority Commercialisation Costs reimbursement 20,000 18,500 18,500 18,500 -
Point Nepean Community Grant reimbursement 5,000 5,000 5,000 5,000 -
Property Disposal Costs reimbursement 31,800 22,411 22,411 22,411 -
Provision to meet future liabilities 143,367 143,367 143,367 143,367 -
Communications Project funding not required - - - 22,000 22,000
Operations 2004-05 supplementation not required in 2004-05 - - - 18,100 18,100
Defence Housing Authority competitive neutrality underspend - - 11,664 11,664
Cash Underspend - - - 65,244 65,244
Sub-total: Cash Inflows 209,167 198,278 198,278 315,286 117,008
2004-05 Closing Cash Appropriation Receivable position 778,982 585,415 585,415 604,409 18,994
Accrual Appropriation Receivable(1) - - - -65,800 -65,800
Total Appropriation Receivable(2) 778,982 585,415 585,415 538,609 -46,806

Notes

  1. The removal of accrual appropriation receivable was due to receiving the cash in 2004-05 for initiatives approved by Government which were funded from balances from Defence existing funding in 2003-04.
  2. Cross reference to Table 1.7.
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