Financial and asset outlook

Table 1: Comprehensive operating statement – estimates ($ million)

Item	2022-23 actual	2023-24 budget	2023-24 revised	2024-25 budget
Net result from continuing operations
Income from transactions
Output appropriations	261	468	526	381
Interest income	63	80	166	132
Sales of goods and services	133	271	256	272
Grants	8	1	24	3
Other revenue and income	29	45	63	45
Total revenue and income from transactions	510	866	1035	832
Expenses from transactions
Employee benefits	174	333	361	294
Depreciation	23	43	40	38
Interest expense	..	2	2	2
Grant expense	76	214	279	208
Other operating expenses	198	251	268	204
Total expenses from transactions	471	843	951	745
Net result from transactions (net operating balance)	39	23	84	87
Other economic flows included in net result
Net gain/(loss) on disposal of non‑financial assets	(1)	1	..	1
Net gain/(loss) on financial instruments and statutory receivables/payables	17	..	..	..
Total other economic flows included in net result	16	1	..	1
Net result	55	24	85	88
Other economic flows – other comprehensive income
Other	15	(2)	(2)	(3)
Total other economic flows – Other comprehensive income	15	(2)	(2)	(3)
Comprehensive result	70	22	83	85

	2023 actual	2024 budget	2024 revised	2025 budget
Assets Financial assets
Cash and deposits	268	295	358	444
Receivables from Government	116	116	123	128
Other receivables	48	49	49	50
Other financial assets	242	242	242	242
Total financial assets	674	702	772	864
Non-financial assets
Property, plant and equipment	694	694	697	697
Intangible assets	66	61	61	57
Other	41	41	41	41
Total non-financial assets	801	797	800	795
Total assets	1475	1499	1572	1659
Liabilities
Payables	90	91	91	92
Borrowings	32	32	32	32
Provisions	93	94	94	95
Total liabilities	215	217	217	219
Net assets	1260	1282	1355	1440
Equity
Accumulated surplus/(deficit)	70	92	153	237
Reserves	..	..	..	..
Contributed capital	1190	1190	1202	1202
Total equity	1260	1282	1355	1440

Updated 30 August 2024