2012 Consolidated Financial Statements - Sector Statement
Sector statements
Australian Governmentoperating statement by sector— including General Government Sector Financial Report
for the year ended 30 June 2012
General / Public non-financial / Public financial / Eliminations and / AustralianNote / government / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
Revenue from transactions
Taxation revenue / 2 / 316,779 / 289,004 / - / - / - / - / (231) / (166) / 316,548 / 288,838
Sales of goods and services / 3 / 8,106 / 7,680 / 7,828 / 7,354 / 5,606 / 5,237 / (1,280) / (1,173) / 20,260 / 19,098
Interest income / 4 / 4,617 / 5,169 / 129 / 100 / 2,107 / 2,173 / (762) / (650) / 6,091 / 6,792
Dividend income / 4 / 2,662 / 2,562 / - / - / 72 / 64 / (1,262) / (595) / 1,472 / 2,031
Other / 5 / 5,994 / 5,473 / 90 / 108 / 174 / 154 / (201) / (205) / 6,057 / 5,530
Total revenue / 338,158 / 309,888 / 8,047 / 7,562 / 7,959 / 7,628 / (3,736) / (2,789) / 350,428 / 322,289
Expenses from transactions
Gross operating expenses
Wages and salaries / 6 / 18,192 / 17,940 / 2,887 / 2,780 / 526 / 433 / - / 1 / 21,605 / 21,154
Superannuation / 6 / 4,564 / 4,512 / 236 / 227 / 74 / 71 / (14) / (18) / 4,860 / 4,792
Depreciation and amortisation / 7 / 5,841 / 5,876 / 555 / 432 / 84 / 76 / - / - / 6,480 / 6,384
Supply of goods and services / 8 / 71,779 / 66,200 / 3,614 / 3,402 / 4,960 / 4,550 / (1,281) / (1,193) / 79,072 / 72,959
Other operating expenses / 6 / 6,608 / 5,054 / 561 / 340 / 199 / 260 / (1) / (3) / 7,367 / 5,651
Total gross operating expenses / 106,984 / 99,582 / 7,853 / 7,181 / 5,843 / 5,390 / (1,296) / (1,213) / 119,384 / 110,940
Superannuation interest expense / 6 / 7,376 / 6,997 / - / - / - / - / - / - / 7,376 / 6,997
Interest expenses / €9.00 / 13,479 / 11,370 / 110 / 60 / 982 / 878 / (760) / (650) / 13,811 / 11,658
Current transfers
Current grants / 10 / 111,013 / 108,878 / - / - / - / - / (36) / (44) / 110,977 / 108,834
Subsidy expenses / 10,020 / 8,690 / - / - / - / - / (147) / (119) / 9,873 / 8,571
Personal benefits / 112,906 / 105,559 / - / - / - / - / - / - / 112,906 / 105,559
Tax expenses / - / - / 156 / (132) / 74 / 131 / (230) / 1 / - / -
Total current transfers / 233,939 / 223,127 / 156 / (132) / 74 / 131 / (413) / (162) / 233,756 / 222,964
Capital transfers
Mutually agreed write-downs / 10 / 2,034 / 2,442 / - / - / - / - / - / - / 2,034 / 2,442
Other capital grants / 10 / 13,497 / 12,994 / - / - / - / - / - / - / 13,497 / 12,994
Total capital transfers / 15,531 / 15,436 / - / - / - / - / - / - / 15,531 / 15,436
Total expenses / 11 / 377,309 / 356,512 / 8,119 / 7,109 / 6,899 / 6,399 / (2,469) / (2,025) / 389,858 / 367,995
Net operating balance / (39,151) / (46,624) / (72) / 453 / 1,060 / 1,229 / (1,267) / (764) / (39,430) / (45,706)
Australian Government operating statement by sector — including General Government Sector Financial Report (continued)
for the year ended 30 June 2012
General / Public non-financial / Public financial / Eliminations and / AustralianNote / government / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
Other economic flows - included
in operating result
Net write-downs of assets
(including bad and doubtful debts) / 12 / (6,607) / (6,030) / (309) / (510) / (8) / (14) / 3 / 43 / (6,921) / (6,511)
Assets recognised for the first time / 581 / 508 / - / - / - / - / - / - / 581 / 508
Net gain/(loss) from the sale of assets / 13 / (2,858) / (2,722) / (10) / 16 / 572 / (144) / - / 8 / (2,296) / (2,842)
Net foreign exchange gains / 14 / 1,001 / 8,249 / (2) / (13) / (232) / (5,622) / (1) / - / 766 / 2,614
Net swap interest received / 15 / (37) / - / 5 / (2) / 25 / 15 / - / - / (7) / 13
Other gains/(losses) / 16 / (20,216) / 2,782 / - / 6 / (18) / 71 / (1,116) / (2,536) / (21,350) / 323
Share of net result from associates
and joint ventures accounted for using
the equity method / 32 / 57 / 17 / 20 / - / - / (1) / 1 / 48 / 78
Operating result / (67,255) / (43,780) / (371) / (30) / 1,399 / (4,465) / (2,382) / (3,248) / (68,609) / (51,523)
Other economic flows - Other
non-owner movements in equity
Revaluation of equity / 32 / (918) / (7,142) / - / - / 453 / (176) / 828 / 7,065 / 363 / (253)
Revaluation of non-financial assets / 32 / 1,139 / 1,305 / (263) / 613 / 14 / 8 / - / - / 890 / 1,926
Actuarial revaluations of superannuation / 37F / (85,209) / 740 / (690) / 158 / (1) / - / (1) / - / (85,901) / 898
Other economic revaluations / (101) / 105 / 299 / (202) / (4) / - / (286) / 204 / (92) / 107
Comprehensive result - Total change
in net worth before transactions with
owners in their capacity as owners / (152,344) / (48,772) / (1,025) / 539 / 1,861 / (4,633) / (1,841) / 4,021 / (153,349) / (48,845)
Net operating balance / (39,151) / (46,624) / (72) / 453 / 1,060 / 1,229 / (1,267) / (764) / (39,430) / (45,706)
less Net acquisition of non-financial assets
Purchases of non-financial assets / 10,329 / 10,710 / 2,106 / 1,556 / 84 / 85 / - / 141 / 12,519 / 12,492
less Sales of non-financial assets / 505 / 402 / 26 / 110 / 1 / 1 / (1) / - / 531 / 513
less Depreciation / 5,840 / 5,876 / 555 / 432 / 84 / 76 / (1) / - / 6,478 / 6,384
plus Change in inventories / 898 / 764 / 10 / 8 / 3 / (7) / (1) / 1 / 910 / 766
plus Other movements in non-financial assets / (29) / 102 / 390 / 198 / (2) / (2) / (1) / 1 / 358 / 299
Total net acquisition of non-financial assets / 4,853 / 5,298 / 1,925 / 1,220 / - / (1) / - / 143 / 6,778 / 6,660
Fiscal balance (Net lending/borrowing) / (44,004) / (51,922) / (1,997) / (767) / 1,060 / 1,230 / (1,267) / (907) / (46,208) / (52,366)
(a)The eliminations and netting column includes adjustments resulting from the elimination of intersector transactions and the netting of gains and losses from asset sales and foreign currency transactions.
Australian Governmentbalance sheet by sector— including General Government Sector Financial Report
as at 30 June 2012
General / Public non-financial / Public financial / Eliminations and / AustralianNote / government / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
Assets
Financial assets
Cash and deposits / 33B / 2,523 / 2,364 / 1,892 / 1,551 / 903 / 1,893 / (677) / (381) / 4,641 / 5,427
Advances paid / 17 / 26,817 / 21,889 / 16 / 14 / 1,610 / 1,481 / (1,021) / (1,011) / 27,422 / 22,373
Other receivables / 17 / 38,503 / 36,626 / 1,164 / 1,068 / 861 / 716 / (1,142) / (153) / 39,386 / 38,257
Investments, loans and placements / 18 / 98,492 / 98,674 / 145 / 357 / 84,085 / 76,705 / (16,120) / (12,948) / 166,602 / 162,788
Equity investments (c) / 19 / 50,037 / 50,356 / 294 / 301 / 708 / 941 / (20,897) / (18,725) / 30,142 / 32,873
Total financial assets / 216,372 / 209,909 / 3,511 / 3,291 / 88,167 / 81,736 / (39,857) / (33,218) / 268,193 / 261,718
Non-financial assets
Land / 20 / 8,648 / 8,688 / 354 / 356 / 153 / 149 / - / (1) / 9,155 / 9,192
Buildings / 20 / 23,332 / 22,448 / 1,862 / 1,753 / 250 / 247 / 1 / 1 / 25,445 / 24,449
Plant, equipment and infrastructure / 20 / 52,862 / 50,555 / 5,954 / 5,098 / 171 / 176 / - / - / 58,987 / 55,829
Intangibles / 21 / 5,501 / 4,385 / 868 / 582 / 367 / 363 / - / (1) / 6,736 / 5,329
Investment property / 20 / 181 / 472 / 196 / 183 / - / - / - / - / 377 / 655
Inventories / 22 / 7,339 / 6,874 / 100 / 96 / 21 / 18 / - / (1) / 7,460 / 6,987
Biological assets / 23 / 37 / 104 / - / - / - / - / - / - / 37 / 104
Heritage and cultural assets / 20 / 10,433 / 9,746 / - / - / - / - / - / - / 10,433 / 9,746
Assets held for sale / 23 / 90 / 154 / 54 / 61 / 54 / 54 / - / - / 198 / 269
Tax assets / - / - / 814 / 795 / 74 / 47 / (888) / (842) / - / -
Other non-financial assets / 23 / 2,725 / 2,272 / 896 / 516 / 51 / 57 / (115) / (75) / 3,557 / 2,770
Total non-financial assets / 111,148 / 105,698 / 11,098 / 9,440 / 1,141 / 1,111 / (1,002) / (919) / 122,385 / 115,330
Total assets / 24 / 327,520 / 315,607 / 14,609 / 12,731 / 89,308 / 82,847 / (40,859) / (34,137) / 390,578 / 377,048
Australian Government balance sheet by sector— including General Government Sector Financial Report (continued)
as at 30 June 2012
General / Public non-financial / Public financial / Eliminations and / AustralianNote / government / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
Liabilities
Interest bearing liabilities
Overdrafts / 33B / - / - / 60 / - / - / - / - / - / 60 / -
Deposits held / 25 / 192 / 208 / - / - / 18,000 / 17,504 / (15,179) / (12,810) / 3,013 / 4,902
Government securities / 26 / 269,775 / 201,755 / - / - / - / - / (1,577) / (457) / 268,198 / 201,298
Loans / 27 / 4,053 / 4,714 / 1,840 / 1,382 / 2,672 / 2,466 / (950) / (961) / 7,615 / 7,601
Other borrowing / 28 / 848 / 756 / 238 / 1 / - / - / 3 / - / 1,089 / 757
Other interest bearing liabilities / 29 / 5,220 / 5,080 / 4 / 4 / 2,493 / 2,345 / - / - / 7,717 / 7,429
Total interest bearing liabilities / 280,088 / 212,513 / 2,142 / 1,387 / 23,165 / 22,315 / (17,703) / (14,228) / 287,692 / 221,987
Provisions and payables
Superannuation liability / 30 / 235,385 / 145,113 / 455 / 88 / - / - / - / - / 235,840 / 145,201
Other employee liabilities / 30 / 14,591 / 11,563 / 1,210 / 1,174 / 1,160 / 1,066 / - / - / 16,961 / 13,803
Suppliers payable / 31 / 5,426 / 5,917 / 816 / 690 / 306 / 313 / (184) / (135) / 6,364 / 6,785
Personal benefits payable / 31 / 5,386 / 6,461 / - / - / - / - / - / - / 5,386 / 6,461
Subsidies payable / 31 / 2,392 / 1,823 / - / - / - / - / - / - / 2,392 / 1,823
Grants payable / 31 / 3,012 / 3,346 / - / - / - / - / - / - / 3,012 / 3,346
Australian currency on issue / 31 / - / - / - / - / 53,595 / 50,059 / - / - / 53,595 / 50,059
Tax liabilities / - / - / 392 / 521 / 32 / 142 / (424) / (663) / - / -
Other payables / 31 / 3,971 / 4,782 / 714 / 588 / 1,874 / 612 / (1,112) / (129) / 5,447 / 5,853
Other provisions / 31 / 29,427 / 24,127 / 336 / 352 / 385 / 388 / - / - / 30,148 / 24,867
Total provisions and payables / 299,590 / 203,132 / 3,923 / 3,413 / 57,352 / 52,580 / (1,720) / (927) / 359,145 / 258,198
Total liabilities / 579,678 / 415,645 / 6,065 / 4,800 / 80,517 / 74,895 / (19,423) / (15,155) / 646,837 / 480,185
Australian Governmentbalance sheet by sector— including General Government Sector Financial Report (continued)
as at 30 June 2012
General / Public non-financial / Public financial / Eliminations and / AustralianNote / government / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
Net worth
Accumulated results / (292,341) / (140,795) / 772 / 1,865 / 1,452 / 1,726 / (11,067) / (9,433) / (301,184) / (146,637)
Reserves / 40,183 / 40,757 / 1,647 / 1,820 / 7,208 / 6,080 / (4,113) / (5,157) / 44,925 / 43,500
Contributed equity / - / - / 6,125 / 4,246 / 131 / 146 / (6,256) / (4,392) / - / -
Minority interests / - / - / - / - / - / - / - / - / - / -
Net worth / (252,158) / (100,038) / 8,544 / 7,931 / 8,791 / 7,952 / (21,436) / (18,982) / (256,259) / (103,137)
Current liabilities / 76,848 / 78,207 / 2,574 / 2,631 / 24,099 / 22,137 / (18,764) / (14,335) / 84,757 / 88,640
Non-current liabilities / 502,830 / 337,438 / 3,491 / 2,169 / 56,418 / 52,758 / (659) / (820) / 562,080 / 391,545
Total liabilities by maturity / 579,678 / 415,645 / 6,065 / 4,800 / 80,517 / 74,895 / (19,423) / (15,155) / 646,837 / 480,185
Current assets / 153,392 / 155,781 / 3,350 / 2,897 / 71,663 / 67,466 / (18,507) / (14,293) / 209,898 / 211,851
Non-current assets / 174,128 / 159,826 / 11,259 / 9,834 / 17,645 / 15,381 / (22,352) / (19,844) / 180,680 / 165,197
Total assets by maturity / 327,520 / 315,607 / 14,609 / 12,731 / 89,308 / 82,847 / (40,859) / (34,137) / 390,578 / 377,048
(a)The eliminations and netting column includes adjustments resulting from the elimination of intersector transactions and the netting of gains and losses from asset sales and foreign currency transactions.
Australian Governmentcash flow statement by sector— including General Government Sector Financial Report
for the year ended 30 June 2012
General / Public non-financial / Public financial / Eliminations and / Australiangovernment / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
OPERATING ACTIVITIES
Cash received
Taxes received / 309,948 / 280,839 / - / - / - / - / (205) / (197) / 309,743 / 280,642
Receipts from sales of
goods and services / 7,778 / 7,522 / 8,499 / 8,096 / 5,763 / 5,173 / (1,233) / (2,001) / 20,807 / 18,790
Interest receipts / 4,267 / 4,943 / 119 / 99 / 2,272 / 2,276 / (755) / (653) / 5,903 / 6,665
Dividend receipts / 1,789 / 3,248 / 15 / 18 / 68 / 64 / (341) / (1,353) / 1,531 / 1,977
GST receipts / - / - / 120 / 78 / 21 / - / (141) / (78) / - / -
Other receipts / 5,588 / 5,070 / 24 / 113 / 170 / 156 / (103) / (277) / 5,679 / 5,062
Total cash received / 329,370 / 301,622 / 8,777 / 8,404 / 8,294 / 7,669 / (2,778) / (4,559) / 343,663 / 313,136
Cash used
Taxes paid / - / - / (30) / (80) / (208) / (86) / 238 / 166 / - / -
Payments for employees / (24,848) / (24,381) / (3,143) / (2,987) / (579) / (490) / 13 / 16 / (28,557) / (27,842)
Payments for goods and services / (70,730) / (65,400) / (4,053) / (3,950) / (5,065) / (4,471) / 915 / 2,184 / (78,933) / (71,637)
Grants and subsidies paid / (135,721) / (126,599) / - / - / (50) / - / 183 / 164 / (135,588) / (126,435)
Interest paid / (10,875) / (9,551) / (82) / (58) / (1,101) / (843) / 779 / 641 / (11,279) / (9,811)
Personal benefits / (112,905) / (105,959) / - / - / - / - / - / - / (112,905) / (105,959)
GST paid / - / - / (322) / (270) / (8) / - / 330 / 270 / - / -
Other payments / (5,459) / (4,369) / (485) / (411) / (52) / (119) / 2 / (244) / (5,994) / (5,143)
Total cash used / (360,538) / (336,259) / (8,115) / (7,756) / (7,063) / (6,009) / 2,460 / 3,197 / (373,256) / (346,827)
Net cash from/(used by)
operating activities / (31,168) / (34,637) / 662 / 648 / 1,231 / 1,660 / (318) / (1,362) / (29,593) / (33,691)
Australian Governmentcash flow statement by sector— including General Government Sector Financial Report(continued)
for the year ended 30 June 2012
General / Public non-financial / Public financial / Eliminations and / Australiangovernment / corporations(b) / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
INVESTING ACTIVITIES
Cash flows from investments
in non-financial assets
Sales of non-financial assets / 505 / 402 / 68 / 67 / 1 / 1 / - / - / 574 / 470
Purchases of non-financial assets / (10,477) / (9,897) / (2,483) / (1,747) / (80) / (82) / (1) / (221) / (13,041) / (11,947)
Net cash flows from investments
in non-financial assets / (9,972) / (9,495) / (2,415) / (1,680) / (79) / (81) / (1) / (221) / (12,467) / (11,477)
Cash flows from investments
in financial assets for
policy purposes
Net advances repaid/(paid) / (5,866) / (7,028) / - / 1 / 80 / (140) / 3 / (210) / (5,783) / (7,377)
Net cash flows from investments
in financial assets for
policy purposes / (5,866) / (7,028) / - / 1 / 80 / (140) / 3 / (210) / (5,783) / (7,377)
Cash flows from investments
in financial assets for
liquidity purposes
Decrease/(Increase) in investments / 1,030 / 7,195 / (301) / (66) / (6,297) / 925 / 5,052 / (1,543) / (516) / 6,511
Net cash flows from investments
in financial assets for
liquidity purposes / 1,030 / 7,195 / (301) / (66) / (6,297) / 925 / 5,052 / (1,543) / (516) / 6,511
Net cash from/(used by)
investing activities / (14,808) / (9,328) / (2,716) / (1,745) / (6,296) / 704 / 5,054 / (1,974) / (18,766) / (12,343)
Australian Governmentcash flow statement by sector— including General Government Sector Financial Report (continued)
for the year ended 30 June 2012
General / Public non-financial / Public financial / Eliminations and / Australiangovernment / corporations / corporations / netting(a) / Government
2012 / 2011 / 2012 / 2011 / 2012 / 2011 / 2011 / 2011 / 2012 / 2011
$m / $m / $m / $m / $m / $m / $m / $m / $m / $m
FINANCING ACTIVITIES
Cash flows from financing
activities
Cash received
Borrowings / 47,020 / 44,799 / 688 / 160 / 627 / 363 / (1,127) / 719 / 47,208 / 46,041
Other financing / - / - / 1,896 / 1,606 / 3,539 / 1,433 / (2,744) / (1,920) / 2,691 / 1,119
Total cash received / 47,020 / 44,799 / 2,584 / 1,766 / 4,166 / 1,796 / (3,871) / (1,201) / 49,899 / 47,160
Cash used
Distributions paid / - / - / (249) / (140) / (91) / (1,214) / 340 / 1,354 / - / -
Other financing / (885) / (335) / - / - / - / (3,378) / (1,501) / 2,504 / (2,386) / (1,209)
Total cash used / (885) / (335) / (249) / (140) / (91) / (4,592) / (1,161) / 3,858 / (2,386) / (1,209)
Net cash flows from
financing activities / 46,135 / 44,464 / 2,335 / 1,626 / 4,075 / (2,796) / (5,032) / 2,657 / 47,513 / 45,951
Net (decrease)/increase
in cash held / 159 / 499 / 281 / 529 / (990) / (432) / (296) / (679) / (846) / (83)
Cash at beginning of year / 2,364 / 1,865 / 1,551 / 1,022 / 1,893 / 2,325 / (381) / 298 / 5,427 / 5,510
Cash at end of year / 2,523 / 2,364 / 1,832 / 1,551 / 903 / 1,893 / (677) / (381) / 4,581 / 5,427
Key fiscal aggregate
Net cash flows from operating activities / (31,168) / (34,637) / 662 / 648 / 1,231 / 1,660 / (318) / (1,362) / (29,593) / (33,691)
Net cash flows from investments
in non-financial assets / (9,972) / (9,495) / (2,415) / (1,680) / (79) / (81) / (1) / (221) / (12,467) / (11,477)
Cash surplus/(deficit) / (41,140) / (44,132) / (1,753) / (1,032) / 1,152 / 1,579 / (319) / (1,583) / (42,060) / (45,168)
Finance leases and similar
arrangements / (16) / (59) / - / - / - / - / - / - / (16) / (59)
GFS cash surplus/(deficit) / (41,156) / (44,191) / (1,753) / (1,032) / 1,152 / 1,579 / (319) / (1,583) / (42,076) / (45,227)
(a)The eliminations and netting column includes adjustments resulting from the elimination of intersector transactions and the netting of gains and losses from asset sales and foreign currency transactions.
Australian Government statement of changes in equity —General Government Sector
for the year ended 30 June 2012
General government / ReservesForeign
Asset / currency
Accumulated / revaluation / translation / Investments / Statutory / Other / Total / Contributed
Item / results / reserve / reserve / reserve / funds / reserves / reserves / equity / Total
$m / $m / $m / $m / $m / $m / $m / $m / $m
Opening balance as at 1 July 2011 / (140,795) / 27,736 / - / 12,919 / - / 102 / 40,757 / - / (100,038)
Non-material changes
in accounting policy and errors / 449 / (11) / - / (212) / - / (2) / (225) / - / 224
Adjusted opening balance as at 1 July 2011 / (140,346) / 27,725 / - / 12,707 / - / 100 / 40,532 / - / (99,814)
Comprehensive result - Total change in / -
net worth / (152,189) / 1,080 / - / (1,222) / - / (13) / (155) / - / (152,344)
Transfers to/(from)/between reserves / 194 / 3 / (178) / - / - / (19) / (194) / - / -
Equity as at 30 June 2012 / (292,341) / 28,808 / (178) / 11,485 / - / 68 / 40,183 / - / (252,158)
less Minority interests / - / - / - / - / - / - / - / - / -
Attributable to the Australian
Government / (292,341) / 28,808 / (178) / 11,485 / - / 68 / 40,183 / - / (252,158)
Australian Government statement of changes in equity —General Government Sector (continued)
for the year ended 30 June 2011
General government / ReservesForeign
Asset / currency
Accumulated / revaluation / translation / Investments / Statutory / Other / Total / Contributed
Item / results / reserve / reserve / reserve / funds / reserves / reserves / equity / Total
$m / $m / $m / $m / $m / $m / $m / $m / $m
Opening balance as at 1 July 2010 / (99,035) / 26,110 / - / 21,883 / - / (79) / 47,914 / - / (51,121)
Non-material changes
in accounting policy and errors / (216) / 312 / - / (261) / - / 20 / 71 / - / (145)
Adjusted opening balance as at 1 July 2010 / (99,251) / 26,422 / - / 21,622 / - / (59) / 47,985 / - / (51,266)
Comprehensive result - Total change in / -
net worth / (41,513) / 1,317 / - / (8,703) / - / 127 / (7,259) / - / (48,772)
Transfers to/(from)/between reserves / (31) / (3) / - / - / - / 34 / 31 / - / -
Net worth as at 30 June 2011 / (140,795) / 27,736 / - / 12,919 / - / 102 / 40,757 / - / (100,038)
less Minority interests / - / - / - / - / - / - / - / - / -
Attributable to the Australian
Government / (140,795) / 27,736 / - / 12,919 / - / 102 / 40,757 / - / (100,038)