Appendices

Appendix three. Budget portfolio outcomes

The budget portfolio outcomes provide comparisons between the actual financial statements of all general government sector entities within the portfolio and the forecast financial information published in the Budget Paper No. 4 Statement of Finances (BP4). The budget portfolio outcomes comprise the comprehensive operating statements, balance sheets, cash flow statements, statements of changes in equity, and administered item statements.

The budget portfolio outcomes have been prepared on a consolidated basis and include all general government sector entities within the portfolio. Financial transactions and balances are classified into either controlled or administered categories consistent with the published statements in BP4.

The following budget portfolio outcomes statements are not subject to audit by the Victorian Auditor-General’s Office and are not prepared on the same basis as the department’s financial statements.

Comprehensive Operating Statement
Department of Primary Industries
For the year ending 30 June 2010

The following notes provide an explanation of the major items that contributed to the variation between the 2009–10 Actual and 2009–10 Budget.

Notes:

1. Variance largely represents the recognition of the state’s ownership of interest revenue of the Royal Showgrounds Redevelopment project.

2. Variance relates to an increase in co-investment programs within the Strategic Research output and revenue from the Royal Showgrounds Redevelopment project.

3. Variance predominantly relates to increased payments for Exceptional Circumstances Interest Rate Subsidy drought relief payments.

4. Variance is due to a change in the capital asset charge requirements of the Biosciences Research Centre project to reflect the change of its delivery methodology from traditional design and construction to a Partnerships Victoria method.

Balance Sheet

Department of Primary Industries

As at 30 June 2010

The following notes provide an explanation of the major items that contributed to the movement between the 2009–10 Actual and 2009–10 Budget.

Notes:

1. Variance is mainly attributed to increased revenue for fee-for-service projects to be completed in 2010–11.

2. Variance primarily relates to receipts for trade debtors from external co-funded projects, these invoices were previously raised in 2008–09.

3. Movement is mainly due to the transfer of responsibility of the Melbourne Wholesale Market Relocation project to the Department of Innovation, Industry and Regional Development.

4. Movement relates predominantly to the cash flow rephasing of the Biosciences Research Centre capital project to reflect the change in the project delivery methodology.

5. Variance relates to an increase in trade creditors, predominantly related to the Exceptional Circumstances Interest Rate Subsidy and Resource Rights Allocation and Management payments being receipted late in June 2010, of which payments will be made in July 2010.

6. Movement is explained by the adjustments made in the Statement of Changes in Equity.

7. Movement represents a revaluation of land and building assets to fair value.

8. Movement is primarily due to the transfer of responsibility for the Melbourne Wholesale Market Relocation project to the Department of Innovation, Industry and Regional Development and the cash flow rephasing of the Biosciences Research Centre capital project.

Cash Flow Statement
Department of Primary Industries
For the year ending 30 June 2010

The following notes provide an explanation of the major items that contributed to the variation between the 2009–10 Actual and 2009–10 Budget.

Notes:

1. Variance represents receipts from commercial entities for the provision of fee-for-service activities.

2. Variance relates to the Goods and Services Tax (GST) component of invoices paid in 2009–10.

3. Variance primarily relates to increased payments for the Exceptional Circumstances Interest Rate Subsidy drought relief program, Municipal Rate Subsidy and the Farm Improvement grant.

4. Variance relates to GST component of invoices raised in 2009–10.

5. Variance relates to the change in delivery methodology for the Biosciences Research Centre project from traditional design and construction to the Partnerships Victoria method.

6. Movement relates predominantly to the transfer of annual appropriation relating to the Melbourne Wholesale Market Relocation project to the Department of Innovation, Industry and Regional Development during 2009–10 to reflect the transfer of project responsibility to the Minister for Major Projects.

7. Movement is primarily due to the transfer of the Melbourne Wholesale Market Relocation project responsibility to the Department of Innovation, Industry and Regional Development and the cash flow rephasing of the Biosciences Research Centre to reflect the change in project delivery.

Statement of Changes in Equity
Department of Primary Industries
For the year ending 30 June 2010

The following notes provide an explanation of the major items that contributed to the variation between the 2009-10 Actual and 2009-10 Budget.

Notes:

1. Movement is explained in the Comprehensive Operating Statement.

2. Movement is explained in the Balance Sheet.

Administered Items Statement
Department of Primary Industries
As at 30 June 2010

The following notes provide an explanation of the major items that contributed to the variation between the 2009-10 Actual and 2009-10 Budget.

Notes:

1. Variance reflects greater than expected receipts for royalties and user charges which have been transferred into the Consolidated Fund.

2. Variance represents retained earnings as a result of the net operations of the department.

3. Variance relates predominantly to the reduction in accrued revenue for the mineral royalties resulting from payment of invoices raised in 2008-09.

4. Variance relates to revenue received from external funding bodies for projects not yet commenced or completed.

Disclosure of grants and transfer payments (other than contributions by owners)

There are a wide range of grant programs delivered by the department. Detail is provided below on the largest individual grant programs funded by DPI in 2009-10: