Section 3: Budgeted financial statements

Section 3 presents budgeted financial statements which provide a comprehensive snapshot of the department’s finances for the 2023-24 budget year, including the impact of budget measures and resourcing on financial statements.

3.1 Explanatory notes and analysis of budgeted financial statements

The department's funding was last rebased in the 2017-18 Budget with reference to increased levels of committee and legislative activity in the 44th Parliament and the early part of the 45th Parliament, including a moderate number of select committees. The department’s budget was supplemented by between $2.0m and $2.2m to support further increases in levels of activity in 2020-21 and 2021-22.

The trend of increasing select committee activity continued throughout the 46th Parliament, with select committees generally requiring more support than was required in previous parliaments. That trend has continued into the new Parliament, demonstrating that these elevated levels of demand have become entrenched. This has been recognised in ongoing funding to support the increased level of committee activity.

The department welcomes this measure, which will allow the department to continue to meet the needs of the Senate and senators.

3.2. Budgeted financial statements tables

Table 3.1: Comprehensive income statement (showing net cost of services) for the period ended 30 June
	2022-23 Estimated actual $'000'	2023-24 Budget $'000'	2024-25 Forward estimate $'000'	2025-26 Forward estimate $'000'	2026-27 Forward estimate $'000'
EXPENSES
Employee benefits	27,788	24,712	25,093	25,243	25,416
Suppliers	4,869	5,050	5,357	5,675	5,809
Depreciation and amortisation (a)	200	207	211	199	201
Total expenses	26,857	29,969	30,661	31,117	31,426
LESS:
OWN-SOURCE INCOME
Own-source revenue
Sale of goods and rendering of services	450	450	450	450	450
Total own-source revenue	450	450	450	450	450
Gains
Resources received free of charge	2,292	2,361	2,407	2,517	2,517
Total gains	2,292	2,361	2,407	2,517	2,517
Total own-source income	2,742	2,811	2,857	2,967	2,967
Net cost of services	(24,115)	(27,158)	(27,804)	(28,150)	(28,459)
Revenue from Government	23,937	26,972	27,614	27,960	28,258
Deficit attributable to the Australian Government	(178)	(186)	(190)	(190)	(201)
Total comprehensive loss	(178)	(186)	(190)	(190)	(201)
Total comprehensive loss attributable to the Australian Government	(178)	(186)	(190)	(190)	(201)
Note: Impact of net cash appropriation arrangements
	2022-23 Estimated actual $'000	2023-24 Budget $'000	2024-25 Forward estimate $'000	2025-26 Forward estimate $'000	2026-27 Forward estimate $'000
Total comprehensive loss - as per statement of Comprehensive Income	(178)	(186)	(190)	(190)	(201)
plus: depreciation/amortisation of assets funded by appropriations (DCB)	178	186	190	190	201
plus: depreciation/amortisation expenses for ROU assets (a)	22	21	21	9	-
less: lease principal repayments (a)	(22)	(21)	(21)	(9)	-
Net Cash Operating Surplus/ (Deficit)	-	-	-	-	-

Prepared on Australian Accounting Standards basis.
(a) Applies leases under AASB 16 Leases

Table 3.2: Budgeted departmental balance sheet (as at 30 June)
	2022-23 Estimated actual $'000	2023-24 Budget $'000	2024-25 Forward estimate $'000	2025-26 Forward estimate $'000	2026-27 Forward estimate $'000
ASSETS
Financial assets
Cash and cash equivalents	204	204	204	204	204
Trade and other receivables	15,773	15,773	15,773	15,773	15,773
Total financial assets	15,977	15,977	15,977	15,977	15,977
Non-financial assets
Property, plant and equipment	1,896	2,034	2,172	2,298	2,434
Right of use	54	32	11	-	-
Intangibles	103	73	43	30	-
Inventories	118	118	118	118	118
Other non-financial assets	226	226	226	226	226
Total non-financial assets	2,397	2,483	2,570	2,672	2,778
Assets held for sale
Total assets	18,374	18,460	18,547	18,649	18,755
LIABILITIES
Payables
Suppliers	139	139	139	139	139
Other payables	606	606	606	606	606
Total Payables	745	745	745	745	745
Interest bearing liabilities
Leases	51	30	9	-	-
Total interest bearing liabilities	51	30	9	-	-
Provisions
Employee provisions	7,118	7,118	7,118	7,118	7,118
Total provisions	7,118	7,118	7,118	7,118	7,118
Total liabilities	7,914	7,893	7,872	7,7,863	7,863
Net assets	10,460	10,567	10,675	10,786	10,892
EQUITY*
Parent entity interest
Contributed equity	2,967	3,260	3,558	3,859	4,166
Reserves	11,495	11,495	11,495	11,495	11,495
Accumulated deficit	(4,002)	(4,188)	(4,378)	(4,568)	(4,769)
Total parent entity interest	10,460	10,567	10,675	10,786	10,892
Total equity	10,460	10,567	10,675	10,786	10,892

Prepared on Australian Accounting Standards basis
*Equity is the residual interest in assets after the deduction of liabilities.

Table 3.3: Departmental statement of changes in equity — summary of movement (Budget year 2022-23)
	Retained earnings $'000	Asset revaluation reserve $'000	Contributed equity/ captial $'000	Total equity $'000
Opening balance as at 1 July 2023
Balance carried forw ard from previous period	(4,002)	11,495	2,967	10,460
Adjusted opening balance	(4,002)	11,495	2,967	10,460
Comprehensive income
Deficit for the period	(186)	-	-	(186)
Total comprehensive income	(186)	-	-	(186)
of which:
Attributable to the Australian Government	(186)	-	-	(186)
Transactions with owners
Contributions by owners
Departmental Capital Budget (DCB)	-	-	293	293
Sub-total transactions with owners	-	-	293	293
Estimated closing balance as at 30 June 2023	(4,188)	11,495	3,260	10,567
Closing balance attributable to the Australian Government	(4,188)	11,495	3,260	10,567

Prepared on Australian Accounting Standards basis
*The non-controlling interest disclosure is not required if an entity does not have non-controlling interests.

Table 3.4: Budgeted departmental statement of cash flows (for the period ended 30 June)
	2022-23 Estimated actual $'000	2023-24 Budget $'000	2024-25 Forward estimate $'000	2025-26 Forward estimate $'000	2026-27 Forward estimate $'000
OPERATING ACTIVITIES
Cash received
Appropriations	23,937	26,972	27,614	27,960	28,258
Sale of goods and rendering of services	450	450	450	450	450
Net GST received	245	233	245	261	261
Total cash received	24,632	27,655	28,309	28,671	28,969
Cash used
Employees	21,788	24,712	25,093	25,243	25,416
Suppliers	2,822	2,922	3,195	3,419	3,553
Total cash used	24,610	27,634	28,288	28,662	28,969
Net cash from operating activities	22	21	21	9	-
INVESTING ACTIVITIES
Cash used
Purchase of property, plant and equipment and intangibles	265	293	298	301	307
Total cash used	265	293	298	301	307
Net cash used by investing activities	(265)	(293)	(298)	(301)	(307)
FINANCING ACTIVITIES
Cash received
Contributed equity	265	293	298	301	307
Total cash received	265	293	298	301	307
Cash used
Principal payments on lease liability	22	21	21	9	-
Total cash used	22	21	21	9	-
Net cash from financing activities	243	272	277	292	307
Net increase/(decrease) in cash held	-	-	-	-	-
Cash and cash equivalents at the beginning of the reporting period	204	204	204	204	204
Cash and cash equivalents at the end of the reporting period	204	204	204	204	204

Table 3.5: Departmental capital budget statement (for the period ended 30 June)
	2022-23 Estimated actual $'000	2023-24 Budget $'000	2024-25 Forward estimate $'000	2025-26 Forward estimate $'000	2026-27 Forward estimate $'000
NEW CAPITAL APPROPRIATIONS
Capital budget (DCB)	265	293	298	301	307
Total new capital appropriations	265	293	298	301	307
Provided for:
Purchase of non-financial assets	265	293	298	301	307
Total items	265	293	298	301	307
PURCHASE OF NON-FINANCIAL ASSETS
Funded by capital appropriation - DCB (a)	265	293	298	301	307
TOTAL	265	293	298	301	307
RECONCILIATION OF CASH USED TO ACQUIRE ASSETS TO ASSET MOVEMENT TABLE
Total purchases	265	293	298	301	307
Total cash used to acquire assets	265	293	298	301	307

Prepared on Australian Accounting Standards basis.
a) Includes purchases from current and previous years’ Departmental capital budgets (DCBs).

Table 3.6: Statement of departmental asset movements (Budget year 2023-24)
As at 1 July 2023
	Other property, plant and equipment $'000	Computer software and intangibles $'000	Total $'000
Gross book value	2,186	364	2,550
Gross book value - ROU assets	128	-	128
Accumulated depreciation/amortisation and impairment	(288)	(261)	(549)
Accumulated depreciation and impairment - ROU assets	(74)	-	(74)
Opening net book balance	1,952	103	2,055
Capital asset additions
Estimated expenditure on new or replacement assets
By purchase - capital budget (DCB)	293	-	293
By purchase - departmental appropriation - ROU assets	-	-	-
Total additions	293	-	293
Other movements
Depreciation/amortisation expense	(156)	(30)	(186)
Depreciation/amortisation on ROU assets	(21)	-	(21)
Total other movements	(177)	(30)	(207)
As at 30 June 2024
Gross book value	2,477	364	2,841
Gross book value - ROU assets	128	-	128
Accumulated depreciation/amortisation and impairment	(444)	(291)	(735)
Accumulated depreciation and impairment - ROU assets	(95)	-	(95)
Closing net book balance	2,066	73	2,139

Prepared on Australian Accounting Standards basis.