Industry, tourism and resources portfolio
NOTES TO THE FINANCIAL STATEMENTS
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NOTES TO THE FINANCIAL STATEMENTS Basis of accounting The agency budget statements are prepared in compliance with Australian Accounting Standards, Accounting Guidance Releases and having regard to Statements of Accounting Concepts. Departmental Budgeted Departmental Statement of Financial Performance This statement shows the estimated revenues and expenses for the Department. The Department is budgeting for a small operating loss in 2004-05, with breakeven results in the outyears. There is a significant increase in total revenue from 2003-04 to 2004-05 ($56.8m, or 23%). The forward estimates indicate that there will be a minor reduction in 2005-06 with a more significant reduction occurring in 2006-07 and then maintained in 2007-08. The reduction in 2005-06 is based on revenue from independent sources by the Australian Building Codes Board (ABCB). The reduction in 2006-07 is due to a phasing down of appropriation revenue. Expenses over the forward estimates are consistent with the movement in total revenue, with employee expenses adjusted for approved salary increases and for a reduction in ASL in 2006-07. Depreciation expenses increase between 2003-04 and 2004-05 due to a number of capital projects achieving commissioning stage and then stay consistent across the outyears. Grant expenses reduce by $3.6m between 2003-04 and 2004-05 and then remain at around $2m a year. Budgeted Statement of Financial Position This statement shows the estimated end of year position of the Department. The equity position for the Department is estimated to strengthen in 2004-05 and then be maintained at a consistent level across the outyears. The increase in equity from 2003-04 to 2004-05, of $14.5m (or 64%), is principally due to the establishment of the National Measurement Institute (NMI) which involves the transfer into the Department of the assets and liabilities of the National Standards Commission (NSC) and National Measurement Laboratory (NML). This transfer in of net assets is offset by the impact of the budgeted operating losses for 2003-04 and 2004-05. Over the period of the forward estimates it is expected that the composition of the Department’s assets will change marginally, with receivables and infrastructure, plant and equipment increasing, and intangibles reducing. Liabilities fluctuate, mainly due to changes in employee provisions (reflecting the impact of salary increases from the certified agreements and a reduction in ASL in 2006-07). Budgeted Statement of Cash Flows This statement shows the estimated cash receipts and expenditure of the Department. There is a significant increase in cash flows for operating activities between 2003-04 and 2004-05. This is consistent with the increase in appropriation revenue. Cash flows for investing activities reflect the Department’s capital expenditure intentions, which are estimated to be maintained at $15m across the outyears. Cash held for working capital purposes is maintained at $4m. Departmental Capital Budget Statement This statement shows the capital appropriations to be received by the Department as well as its planned capital expenditure on non-financial assets. The Department will receive a capital appropriation of $6.555m in 2004-05. It is related to the establishment of the NMI, and is based on the transfer of the cash reserves of the NSC and NML to the Department. Capital expenditure by the Department is planned to reduce marginally between 2003-04 and 2004-05 and then be maintained at around $15m. All capital expenditure will be funded from internal reserves. Departmental Non-financial Assets – Summary of Movement This statement shows budgeted acquisitions and disposals of non-financial assets during the Budget year. From a base of $45.6m the Department is budgeting for capital expenditure of $15.0m and the transfer in of $14.7m in assets associated with the NSC and NML. After factoring in depreciation of $15.8m the carrying amount for non-financial assets will be $59.5m. There will be a minor change in the composition of the non-financial assets, with land and buildings and infrastructure, plant and equipment increasing whilst intangibles reduce. Administered Schedule of Budgeted Revenues and Expenses This schedule shows the estimated revenues and expenses administered on behalf of the Government. Administered revenues between 2003-04 and 2004-05 and the outyears are estimated to remain at around the same level ($1.19 billion). There will be a minor reduction between 2006-07 and 2007-08 of $30.4m (-3%) mainly attributable to dividends from Snowy Hydro Limited. Administered expenses for 2004-05 increase by $93.7m (+ 6%) to $1.62 billion from 2003-04 but are then estimated to reduce in the outyears. The reduction in 2005-06 is $110.6m (- 7%) mainly due to the cessation in funding for a number of Strategic Investment Incentive projects. A further reduction, of $ 128.3m, is estimated for 2006-07 (- 9%). The major factor in this is the cessation of funding for the original TCF SIP program offset by increases across a number of programs (including the successor TCF SIP program). Schedule of Budgeted Assets and Liabilities Administered on behalf of Government This schedule shows the estimated assets and liabilities administered on behalf of Government. Administered assets are estimated to increase to $707.5m in 2004-05 compared to $610.4m in 2003-04. This increase (+ 16%) is principally based on a growth in receivables, due to the Innovation Investment Fund, Competitive Preseed and Comalco. Accrued revenues are also up, by $4.2m (+ 8%) due to Petroleum Royalties. Further increases in administered assets are estimated across the outyears, going to $737.8m in 2005-06, $737.0m in 2006-07 and then to $750.5m in 2007-08. The factors driving these increases mainly relate to receivables associated with the Innovation Investment Fund and Competitive Preseed. Administered liabilities are estimated to reduce in 2004-05, by $24.7m (- 7%), mainly associated with Assistance to Pharmaceuticals. There is estimated to be a significant reduction in 2005-06, of $134.2m (- 41%), based on liabilities associated with Australian Magnesium Corporation and Automotive Competitiveness Investment Scheme (ACIS). A further reduction will occur in 2006-07, of $19.2m (-10%), due to ACIS. Liabilities will remain at that level in 2007-08. Schedule of Budgeted Administered Cash Flows This schedule shows the estimated cash receipts and expenditures administered on behalf of Government. Cashflows for operating activities are estimated to increase by $230.2m (+ 15%) in 2004-05 compared to 2003-04. This is mainly due to increased appropriations and royalty receipts. Across the outyears cashflows for operating activities will reduce, mainly due to changes in appropriations but also impacted by royalty receipts. Cashflows for investing and financing activities will reduce significantly over the forward estimates period, principally due to cessation of funding for Comalco and meeting the liability associated with the Australian Magnesium Corporation Stanwell magnesium project. Schedule of Administered Capital Budget The schedule of administered capital budget shows capital appropriations, as well as the carryover of unspent funds. Capital appropriations will reduce significantly over the forward estimates period, principally due to cessation of funding for Comalco and meeting the liability associated with the Australian Magnesium Corporation Stanwell magnesium project. Schedule of Administered Non-financial Assets – Summary of Movement The schedule of administered non-financial assets – summary of movement shows changes for 2004-05. From an opening balance of $22.2m the only change is recognition of depreciation for Syntroleum ($2.0m). Section 4: Purchaser-provider and cost recovery arrangements PURCHASER-PROVIDER ARRANGEMENTS 1. Australian Bureau of Agricultural and Resource Economics Cross agency overview DITR has a purchaser-provider arrangement with the Australian Bureau of Agricultural and Resource Economics (ABARE) for the provision of economic analyses and research. Responsibility DITR purchases a significant amount of services provided by ABARE. ABARE is part of the portfolio of Agriculture, Fisheries and Forestry Australia (AFFA). Part C of the Portfolio Budget Statements for the AFFA portfolio contains information on ABARE, its outcome and output structure, performance information framework and financial statements. Control arrangements ABARE is responsible to the Minister for Agriculture, Fisheries and Forestry. Resourcing The purchase of services from ABARE for the provision of economic analyses and research is resourced through outputs 1.1 (Program Management Services) and output 1.2 (Policy Advice) with a budgeted price of up to $3.3m for 2004-05. Performance against outcomes of purchased outputs ABARE provides services to DITR for output 1.1 (Program Management Services) and output 1.2 (Policy Advice) which contribute to the achievement of outcome 1 (a stronger, sustainable and internationally competitive Australian industry, comprising the manufacturing, resources and service sectors). The performance information framework for outcome 1 is provided in Table 2.2.1 at pages 51 - 53. 2. Business Entry Point website and related sub-sites Cross agency overview In line with the Machinery of Government changes following the 2001 Federal election, the Business Entry Point website and related sub-sites were transferred from the Department of Employment and Workplace Relations (DEWR) to the Department of Industry, Tourism and Resources (DITR). DITR has a purchaser-provider arrangement with DEWR for the provision of ongoing IT support and infrastructure management in relation to these websites. Responsibility DITR has assumed full responsibility for the content and management of the Business Entry Point websites and related sub-sites. The websites are hosted within a separate DEWR-DITR internet gateway environment that is accessible through the DITR network. Control arrangements DITR is fully responsible for the Business Entry Point website and related sub-sites. Resourcing As part of a Memorandum of Understanding between DITR and DEWR (operative from 1 July 2002 to 30 June 2005), DITR pays an annual fee of $385,000 to DEWR which covers ongoing IT support and infrastructure management services provided by DEWR. This year DITR paid DEWR an extra $98,875 as its contribution toward relocation of the DEWR data centre. Performance against outcomes of purchased outputs This activity is measured against output 1.3 (Business Services) which contributes to the achievement of outcome 1 (i.e. a stronger, sustainable and internationally competitive Australian industry, comprising the manufacturing, resources and service sectors). The performance information framework for outcome 1 is provided in Table 2.2.1 at pages 51 - 53. 3. Centrelink Cross agency overview Cabinet gave approval in December 2002 for additional drought assistance to small businesses that are subject to an Exceptional Circumstances declaration, subject to certain eligibility criteria. This assistance is delivered under the Small Business Interest Rate Relief (SBIRR) program. DITR has a purchaser-provider arrangement with Centrelink for the delivery of this initiative. This includes processing, on DITR’s behalf, applications for assistance and processing payments to beneficiaries. Responsibility DITR has full responsibility for the policies governing administration of the SBIRR program, and this program is included in the Department’s Portfolio Budget Statements. Control arrangements The SBIRR program is administered by Centrelink in accordance with a Memorandum of Understanding with DITR and a more detailed Program Protocol. Centrelink is required to report on a range of performance information including the number of successful applicants, total number of applicants and amounts expended. Funds are transferred to Centrelink only as they are required for program beneficiaries. Resourcing The purchase of administration and delivery services to support the SBIRR program is resourced through output 1.2 (Policy Advice), with a budgeted price of $1.0m in 2004-05. Performance against outcomes of purchased outputs Centrelink provides services to DITR for output 1.2 (Policy Advice) which contribute to the achievement of outcome 1 (i.e. a stronger, sustainable and internationally competitive Australian industry, comprising the manufacturing, resources and service sectors). The performance information framework for outcome 1 is provided in Table 2.2.1 at pages 51 - 53. 4. Australian Bureau of Statistics Cross agency overview DITR will have purchaser/provider arrangements with the Australian Bureau of Statistics (ABS) for:
Responsibility The ABS is responsible for developing, producing and publishing the STA and the ATSA. Control arrangements The ABS is Australia’s official statistical organisation and is responsible to the Treasurer. The expansion to the STA and the production of the ATSA will be in accordance with separate Memorandums of Understanding with DITR. These Memorandums are being drafted. Resourcing The purchase of these services from the ABS is resourced through output 1.2 (Policy Advice). The funding to the ABS in 2004-05 for the expansion of the STA will be $500,000. The funding to the ABS for development and production of ATSA in 2004-05 is still to be finalised. Performance against outcomes of purchased outputs The ABS provides services for output 1.2 (Policy Advice) which contributes to the achievement of outcome 1 (i.e. a stronger, sustainable and internationally competitive Australian industry, comprising the manufacturing, resources and service sectors). The performance information framework for outcome 1 is provided in Table 2.2.1 at pages 51 - 53. 5. National Biotechnology Strategy Under Backing Australia's Ability 2, funding is provided to DITR for Biotechnology Australia (BA) and two of its partner agencies to support continuation of the National Biotechnology Strategy (NBS). The BA component of the funding will maintain its role in coordinating and managing the NBS and implementing its successful Public Awareness Program. Through Memorandums of Understandings with DITR, the Department of Agriculture, Fisheries and Forestry will receive funding to continue its work on supply chain management and marketing issues, and the Department of Environment and Heritage will receive funding to assist implementation of a nationally consistent approach on access and use of genetic resources and undertake further studies on environmental risks. COST RECOVERY ARRANGEMENTS There are a range of existing cost recovery arrangements within the Department of Industry, Tourism and Resources. Total revenue from cost recovery arrangements in 2004-05 is estimated to be less than $5 million. The Department is not proposing any significant new or amended cost recovery arrangements in 2004-05, and has not prepared any Cost Recovery Impact Statements in the 2004-05 Budget context. In line with the Government’s five year review schedule, existing arrangements will be reviewed against the Cost Recovery Guidelines for Information and Regulatory Agencies (issued by the Department of Finance and Administration in March 2003) in 2006-07, and Cost Recovery Impact Statement requirements will be assessed in the context of that review. IP AUSTRALIA SECTION 1: OVERVIEW, APPROPRIATIONS AND BUDGET MEASURES SUMMARY............................................................................................... 91 Agency overview.....................................................................................................................91 Appropriations and resourcing.............................................................................................91 Measures — Agency summary..............................................................................................93 Revenue from independent sources......................................................................................93 Movement of administered funds from 2003-04 to 2004-05...............................................93 Special appropriations ............................................................................................................93 Special accounts.......................................................................................................................94 Administered capital and departmental equity injections and loans...............................94 SECTION 2: OUTCOMES AND OUTPUTS INFORMATION ................................ 95 Outcomes and outputs............................................................................................................95 Outcome 1 — Description ......................................................................................................97 Measures affecting outcome 1................................................................................................97 Outcome 1 — Resourcing.......................................................................................................98 Outcome 1 — Contribution of outputs.................................................................................99 Performance information for outcome 1 ..............................................................................99 Evaluations .............................................................................................................................101 SECTION 3: BUDGETED FINANCIAL STATEMENTS .................................... 102 Analysis of budgeted financial statements ........................................................................102 Notes to the financial statements.........................................................................................112 SECTION 4: PURCHASER-PROVIDER AND COST RECOVERY ARRANGEMENTS ................................................................................... 113 Purchaser-provider arrangements ......................................................................................113 Cost recovery arrangements ................................................................................................113 IP AUSTRALIA Section 1: Overview, appropriations and budget measures summary AGENCY OVERVIEW A robust intellectual property system is integral to the promotion of innovation, investment and international competitiveness for any economy. Australia’s economic well being is dependent on an efficient and effective industry infrastructure that is capable of producing internationally competitive goods and services. In this context, IP Australia’s role is to provide an effective, efficient and accessible intellectual property system that promotes innovation, investment and international competitiveness for the benefit of all Australians. IP Australia is conscious of the need to remain an influential player in the future development of intellectual property systems in the international arena. IP Australia will continue to promote the establishment of mutual recognition arrangements and cooperate with other countries to implement effective intellectual property services and develop new business opportunities. IP Australia encourages a better and more cost effective intellectual property system, by working collaboratively with other government organisations, industry groups and international organisations. Through understanding and developing strong working relationships with customers, IP Australia is positioning itself as an integrated quality service provider. It will provide responsive services and products to match the needs of a diverse customer base, while increasing awareness of the benefits of seeking intellectual property protection both in Australia and abroad. APPROPRIATIONS AND RESOURCING IP Australia operates on a cost recovery basis, funding its operations almost entirely through revenue raised from charges for intellectual property services. The only funds received directly via the Appropriations Bills relate to notional interest paid against the balance of the IP Australia Special Account. Total appropriations and other revenue estimates for 2004-05 are detailed in Table 1.1 on the following page. 91
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