Chapter One - Overview > Financial Overview > page 11 of 16
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Financial Overview

Defence's Cash Position

Planned Rundown in Cash Levels

Table 1.7 shows how Defence intends to progressively reduce its cash reserves over the forward estimates in accordance with the schedule agreed by the Government.

Table 1.7 Planned Rundown in Cash Levels
2004-05
Actual
Result 		Use of Cash Reserves 2005-06
Budget
Estimate		 2006-07
Forward
Estimate		 2007-08
Forward
Estimate		 2008-09
Forward
Estimate
$'000   $'000 $'000 $'000 $'000
471,860 Opening balance of cash reserves held by Department of Finance and Administration on behalf of Defence 538,609 477,894 434,251 370,128
-12,051 Retrospective Foreign Exchange adjustments - - - -
-114,441 Transfer to Department of Veterans' Affairs of administrative costs associated with military compensation scheme - - - -
-197 Timor-Leste Special Appropriation return - - - -
-18,373 Drawdown to fund Employee Liabilities -32,181 -43,643 -64,123 -77,369
-11,100 Operation Citadel rephasing -2,500 - - -
-39,800 Operation Catalyst rephasing - - - -
-12,800 Operation Anode rephasing - - - -
-39,775 Additional requirements for 27th pay day - - - -
5,300 Defence Procurement Review reimbursement - - - -
5,000 Point Nepean Community Grant reimbursement - - - -
3,700 Papua New Guinea Defence Force reform program reimbursement - - - -
22,411 Property Disposal Costs reimbursement - - - -
18,500 Defence Housing Authority Commercialisation Costs reimbursement - - - -
143,367 Provision to meet future liabilities - - - -
22,000 Communications Project funding not required -22,000 - - -
18,100 Operations 2004-05 supplementation not required in 2004-05 -18,100 - - -
11,664 Defence Housing Authority competitive neutrality return of funds -11,664 - - -
65,244 Delays in deliveries to 2005-06 - - - -
Transfer of Defence Materiel Organisation component of appropriation receivable -40,270 - - -
Projected carryover to Defence Capability Plan in 2006-07 66,000 - - -
538,609 Cash Reserves as at 30 June(1) 477,894 434,251 370,128 292,759

Note

  1. Cross reference to Table 1.6.
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