Senator the Hon. Mathias Cormann
Minister for Finance and the Public Service
Leader of the Government in the Senate
Senator for Western Australia
Date: Wednesday, 12 December 2018
The Consolidated Financial Statements present the whole of government and general government sector financial reports. The Final Budget Outcome, released on 25 September 2018, presents the financial results for the general government sector.
The Auditor-General has provided an unqualified audit opinion on the Consolidated Financial Statements.
Key highlights from the 2017-18 Consolidated Financial Statements are included in Table 1 below. A full copy of the Consolidated Financial Statements is available at:
Table 1: Financial results for the year ended 30 June 2018
|Net operating balance (a)||(8.4)||(36.9)||28.5|
|Per cent of GDP||0.5||2.1|
|Net capital investment||6.7||8.7||(2.0)|
|Fiscal balance (b)||(15.1)||(45.6)||30.5|
|Per cent of GDP||0.8||2.6|
|Net worth (c)||(417.8)||(391.7)||26.0|
|Per cent of GDP||22.7||22.3|
|Net cash flows from operating activities||4.4||(23.9)||28.3|
|Net cash flows from investments in non-financial assets||(18.2)||(15.0)||(3.2)|
(a) Net operating balance equals total revenue minus total expenses.
(b) Fiscal balance (or net lending/borrowing) is the net operating balance less net capital investment.
(c) Net worth is calculated as total assets minus total liabilities.
The Consolidated Financial Statements comply with Australian Accounting Standards.
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