Section 3: Explanatory tables and budgeted financial statements

Section 3 presents explanatory tables and budgeted financial statements which provide a comprehensive snapshot of agency finances for the 2010–11 budget year. It explains how budget plans are incorporated into the financial statements and provides further details of the reconciliation between appropriations and program expenses, movements in administered funds, special accounts and government Indigenous expenditure.

3.1 Explanatory tables

3.1.1 Movement of administered funds between years

SRDC does not have any administered funds.

3.1.2 Special Accounts

SRDC does not have any special accounts.

3.1.3 Australian Government Indigenous Expenditure

The 2010–11 Australian Government Indigenous Statement is not applicable because SRDC has no Indigenous specific expenses.

3.2 Budgeted financial statements

3.2.1 Analysis of budgeted financial statements

The revenues from government are budgeted to increase by two per cent in 2010–11 and another two per cent in 2011–12. This is due to a marginally higher levy income expected for 2010–11 based on the recent Australian Bureau of Agricultural and Resource Economics (ABARE) information. This increase in levy income is due in part to increase in tonnages of sugarcane produced and in part to the increase expected for the matching contribution from government (based on the gross value of production which is influenced by international price). Industry cropping estimates are around 31.5 million tonnes. The forecasted decline in income from 2012–13 reflects the ABARE forecasted decline in the world sugar price.

The reduction in project expenditure corresponds to the projected movement in income.

3.2.2 Budgeted financial statements tables

SRDC has strong cash reserves and while a deficit is expected for the current period of 2009–10, this won’t affect the results of the next years.

Table 3.2.1 Comprehensive Income Statement (Showing Net Cost of Services) (for the period ended 30 June)

Table 3.2.1 Comprehensive Income Statement (Showing Net Cost of Services) (for the period ended 30 June)
Prepared on Australian Accounting Standards basis.

Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)

Table 3.2.2: Budgeted departmental balance sheet (as at 30 June)
* 'Equity' is the residual interest in assets after deduction of liabilities.
Prepared on Australian Accounting Standards basis.

Table 3.2.3: Budgeted departmental statement of cash flows (for the period ended 30 June)

Table 3.2.3: Budgeted departmental statement of cash flows (for the period ended 30 June)
Prepared on Australian Accounting Standards basis.

Table 3.2.4: Departmental statement of changes in equity — summary of movement (Budget year 2010–11)

Table 3.2.4: Departmental statement of changes in equity — summary of movement (Budget year 2010–11)
Prepared on Australian Accounting Standards basis.

Table 3.2.5: Departmental Capital Budget Statement

Table 3.2.5: Departmental Capital Budget Statement
Prepared on Australian Accounting Standards basis.

Table 3.2.6: Statement of Asset Movements (2010–11)

Table 3.2.6: Statement of Asset Movements (2010–11)
Prepared on Australian Accounting Standards basis.

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