Food Standards Australia New Zealand - Department of · PDF fileSection 1—Agency overview 251 Section 1: Agency overview Food Standards Australia New Zealand (FSANZ) is an independent

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Food Standards Australia New Zealand

Health and Ageing portfolio agency

Section 1: Agency overview....................................................................................251

Section 2: Agency resources for 2005-06..............................................................252 2.1: Appropriations and other resources....................................................................252 2.2: 2005-06 Budget measures..................................................................................253 2.3: Other revenue available to be used ....................................................................253 2.4: Movement of administered funds from 2004-05 to 2005-06 ...............................253 2.5: Special appropriations.........................................................................................254 2.6: Special accounts .................................................................................................254 2.7: Administered capital and departmental equity injections and loans ...................254

Section 3: Agency outcomes..................................................................................255 3.1: Summary of outcomes, outputs and administered items....................................255 3.2: Outcomes — departmental and administered ....................................................255 3.3: Outcomes resourcing ..........................................................................................256

Section 4: Other reporting requirements...............................................................260 4.1: Purchaser-provider arrangements ......................................................................260 4.2: Cost recovery arrangements...............................................................................260

Section 5: Budgeted financial statements.............................................................261 5.1: Analysis of budgeted financial statements..........................................................261

Departmental .............................................................................................................261 5.2: Budgeted financial statements tables .................................................................262 5.3: Notes to the financial statements........................................................................270

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Section 1—Agency overview

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Section 1: Agency overview

Food Standards Australia New Zealand (FSANZ) is an independent statutory agency established by the Food Standards Australia New Zealand Act 1991. FSANZ sets food standards for Australia and New Zealand under the Intergovernmental Food Regulation Agreement 2000 between the Australian and State and Territory governments and under a Treaty between the governments of Australia and New Zealand. FSANZ’s role is to protect and inform consumers through the development of effective food standards, in a way that helps stimulate and support growth and innovation in the food industry, and is consistent with international obligations. FSANZ does this for Australia and New Zealand in collaboration with all Australian governments and the government of New Zealand, and with our industry, consumer and public health stakeholders. Within this context, FSANZ’s mission is to work as productive partners in the Australian and New Zealand food regulatory system. FSANZ is responsible for developing, varying and reviewing standards, and for developing codes of conduct with industry for food sold in Australia and New Zealand covering labelling, composition and contaminants. In Australia, FSANZ also develops food standards for food safety, maximum residue limits, primary production and processing, and undertakes a range of other functions, including the coordination of national food surveillance and recall systems, conducting research and providing risk assessment advice about imported food. In developing food standards under the Food Standards Australia New Zealand Act 1991, FSANZ is required to meet the following objectives:

• the protection of public health and safety;

• the provision of adequate information relating to food to enable consumers to make informed choices; and

• the prevention of misleading and deceptive conduct.

Table 1.1: Agency outcomes and output groups Outcome Output groups

1. Regulatory activity. A safe food supply and well-informed consumers. 2. Services to the Minister and Parliament.

Agency budget statements—FSANZ

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Section 2: Agency resources for 2005-06

2.1: APPROPRIATIONS AND OTHER RESOURCES

Table 2.1 shows the total resources from all origins for 2005-06, including appropriations. The table summarises how revenue will be applied by outcome, administered and departmental classification.

The total appropriation for the FSANZ in the 2005-06 Budget is $13.541 million.

Table 2.1: Appropriations and other revenue 2005-061 Total

resources7

$'000 $'000 $'000 $'000 %6 $'000 %6 $'000Bill Bill Special Total

No. 1 No. 22 approp3 approp4

Food StandardsAustralia New ZealandAdministered - - - - - - - - Departmental 13,531 - - 13,531 88% 1,873 12% 15,404 Total FSANZ 13,531 - - 13,531 88% 1,873 12% 15,404

Departmental capital (equity injections) - 10 - 10 100% - 0% 10 Total resources 13,531 10 - 13,541 88% 1,873 12% 15,414

Note: Refer to Budgeted statement of financial performance for application of agency revenue.

1 This table has been redesigned to correspond with Budget Paper No. 4 ‘Agency Resourcing’. It nowincludes (where appropriate) administered revenue from other sources.

2 Under the appropriation structure, Bill No. 2 includes Specific Purpose Payments (SPPs), new agencyOutcomes (NAOs), administered capital and departmental capital via departmental injections and loans.3 Estimated expenses from individual Special Appropriations are shown at Section 3, Tables 3.1, etc.4 Total appropriations = Bill No. 1 + Bill No. 2 + Special appropriations.

5 Revenue from other sources includes FMA s.31 revenues, CAC body revenues that are available to beexpensed, special accounts (non-appropriation revenues) and resources received free of charge.

6 Percentage figures indicate the percentage contribution of Revenue from Government (DepartmentalAppropriations) to the total price of outputs, by outcome, and the percentage contribution of Revenue fromother sources (Departmental) to the total price of outputs, by outcome.7 Total resources = Total appropriations + Revenue from other sources.

Appropriations Revenue fromother sources5

Section 2—Agency resources for 2005-06

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2.2: 2005-06 BUDGET MEASURES

Budget measures relating to FSANZ as explained in Budget Paper No. 2 are summarised in Table 2.2. The table also identifies the relevant outcomes, administered items and outputs associated with each measure.

Further details of this measure are published in Budget Paper No. 2.

Table 2.2: Food Standards Australia New Zealand measures 2005-06 2006-07 2007-08 2008-09

$'000 $'000 $'000 $'000Efficiency dividend - increasein the rate from 1 per cent to1.25 per cent* Departmental -34 -67 -99 -99

Administered 0 0 0 0Subtotal -34 -67 -99 -99

Connection to FedLink#

Departmental -108 -25 -25 -26Capital -10 -12

Administered 0 0 0 0Subtotal -118 -25 -25 -38

* Increase to the Efficiency Dividend is a Whole-of-Government measure. The numbers recorded against this measure are for FSANZ only. # Increase to the Connection to Fedlink is a Whole-of-Government measure. The numbers recorded against this measure are for FSANZ only.

2.3: OTHER REVENUE AVAILABLE TO BE USED

Table 2.3 provides details of other revenue available to be used and includes FMA s.31 revenue, CAC body revenue available to be spent, special accounts (non-appropriation revenue) and resources received free of charge.

Table 2.3: Other revenue available to be used1 Revenue from Budgetother sources estimate

2004-05 2005-06$'000 $'000

Departmental other revenueSales of goods & services to the New Zealand Government 1,300 1,300 Other sales of goods & services 573 573

Total departmental other revenue available to be used 1,873 1,873 1. This table replaces the former table ‘Receipts from independent sources’. It represents own source revenue available for spending on departmental purposes.


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2.4: MOVEMENT OF ADMINISTERED FUNDS FROM 2004-05 TO 2005-06 2.5: SPECIAL APPROPRIATIONS 2.6: SPECIAL ACCOUNTS 2.7: ADMINISTERED CAPITAL AND DEPARTMENTAL EQUITY INJECTIONS AND LOANS Sections 2.4 to 2.7 are not applicable to FSANZ.

Section 3—Agency outcomes

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Section 3: Agency outcomes

This section explains how the resources identified in Section 2 will be used to deliver outputs and administered items to contribute to Food Standards Australia New Zealand’s (FSANZ) outcome.

3.1: SUMMARY OF OUTCOMES, OUTPUTS AND ADMINISTERED ITEMS

FSANZ works to achieving a single outcome specified by government. This section provides a summary of the agency’s activities for 2005-06, followed by related performance information.

Figure 4: Outcomes and output groups and administered items

Food Standards Australia New Zealand Chief Executive Officer—Mr Graham Peachey

Outcome—A safe food supply and well-informed consumers

Total price of outputs Total departmental outcomes appropriation

Total administered expense

$15.404m $13.531m $0

Output group 1 Regulatory activity

Total price Departmental appropriations

$14.966m $13.093m

Output group 2 Services to the Minister and Parliament

Total price Departmental appropriations

$0.438m $0.438m

FSANZ’s appropriations from consolidated revenue are drawn under its own outcome in the 2005-06 Budget—‘A safe food supply and well-informed consumers’.

Previously, FSANZ drew appropriations from consolidated revenue under the outcome ‘Population health and safety’, from which the Department of Health and Ageing also drew appropriations.

3.2: OUTCOMES — DEPARTMENTAL AND ADMINISTERED

Departmental appropriations FSANZ has total departmental appropriations of $15.531 million in 2005-06 plus an equity injection of $0.010 million.


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3.3: OUTCOMES RESOURCING

Outcome summary—the year ahead In 2005-06, FSANZ’s focus will continue to be on protecting the health and safety of people in Australia and New Zealand, through the development of effective food standards. Four key result areas provide the focus for FSANZ’s activities: • regulatory measures; • the agency’s stakeholders; • the agency’s people; and • accountability. Within this strategic framework, FSANZ will pay particular attention in 2005-06 to: • the development of primary production and processing standards for poultry meat and

dairy; • the review of the standard for ‘novel’ foods; • the development of a standard for nutrition, health and related claims; • reviewing the standard for the fortification of food with vitamins and minerals; and • the development of a standard for country-of-origin labelling.

Outcome resourcing Table 3.1 shows how the 2005-06 Budget appropriations translate to total resourcing for FSANZ, including administered expenses, revenue from government (appropriation), revenue from other sources (Departmental) and the total price of outputs.


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Table 3.1: Total resources for Food Standards Australia New Zealand

Estimated Budgetactual estimate

2004-05 2005-06$'000 $'000

Departmental revenueTotal revenue from Government (appropriations) 13,515 13,531

Total other resources available to be used 1,873 1,873

15,388 15,404 (Total revenue from Government and from other sources)

Departmental revenue by output groupOutput Group 1 - Regulatory activity 14,798 14,966

Output Group 2 - Services to the Ministers and Parliament 590 438

15,388 15,404 (Total revenue from Government and from other sources)

15,388 15,404

2004-05 2005-06Average staffing level (number) 126 122

Total estimated resourcing for Outcome 1(Total price of outputs and administered appropriations)

Total Price of Departmental Outputs

Total Price of Departmental Outputs

Performance information for Food Standards Australia New Zealand

Table 3.2: Performance information for Food Standards Australia New Zealand

Output group 1—Regulatory activity

• Development and evaluation of the Food Standards Code and other regulatory measures.

• Management and enhancement of the

standards development process. • Community involvement in food regulatory

processes. • Collaboration with international food

agencies. • Collaboration with the States and

Quality: Rigorous scientific risk assessment for food regulatory measures. Quality: Improved regulatory impact statements. Quality: Development and implementation of an ongoing evaluation strategy to assess the effectiveness and appropriateness of food standards and other regulatory measures. Quality: An enhanced standards management system. Quality: Increased consumer involvement in FSANZ processes. Quality: High level of stakeholder satisfaction with consultation and agency input on international standards issues. Quality: Framework developed for consistent


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Output group 1—Regulatory activity

Territories on implementation of common regulatory approaches and evaluation strategies with other agencies.

• Information to stakeholders. • Coordination of national food surveillance

and recall system. • Advice concerning imported foods. • Development and maintenance of the

effectiveness and efficiency of the organisation.

national implementation and enforcement of food regulation in Australia. Quality: High level of satisfaction of industry, consumers and stakeholders with quality and timeliness of information services. Quality: Timely advice provided on food incidents and recall actions and 100% of recall reports obtained from industry. Quality: High level of satisfaction from jurisdictions and the Australian Quarantine and Inspection Service with quality and timeliness of advice. Quantity: Assessment of at least 25 Applications and Proposals to vary the Food Standards Code within statutory time limits.

Price: $14.966m

Output group 2—Services to the Minister and Parliament • Ministerial and Parliamentary briefings

and reports. • An annual report to Parliament on the

operation of FSANZ under the FSANZ Act 1991.

Quality: A high level of satisfaction of the Minister and Parliament with the relevance, quality and timeliness of advice provided. Quality: Agreed timeframes met for ministerial correspondence, Question Time Briefs, Parliamentary Questions on Notice and ministerial requests for briefings. Quality: Submission of annual report on the operations of FSANZ under the FSANZ Act 1991 by 30 September 2006.

Price: $0.438m


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Evaluations Implementation of the Australia New Zealand Food Standards Code Research on the effectiveness of the Australia New Zealand Food Standards Code has been carried out, assessing awareness and understanding of the code, its ease of use, facilitation of application, and product innovation and development. Based on data collected in 2004-05, the findings of the research will be published in 2005-06. Safe food handling for processed foods Research into safe food handling for processed foods was conducted in 2001. A repeat survey will be conducted in 2005-06, in conjunction with the States and Territories, to assess the effectiveness of Chapter 3 (Food Safety Standards) of the Food Standards Code. Food labelling FSANZ will continue with its labelling monitoring project in 2005-06, to assess the efficiency and effectiveness of labelling standards in meeting the Government’s objective of providing information to consumers. An evaluation report will be published in 2005-06.


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Section 4: Other reporting requirements

4.1: PURCHASER-PROVIDER ARRANGEMENTS

There are no purchaser-provider arrangements reported by FSANZ.

4.2: COST RECOVERY ARRANGEMENTS

FSANZ recovers the cost of processing applications to amend the Food Standards Code, for which the applicant has an exclusive, capturable commercial benefit as defined in the FSANZ Act 1991. In addition, applicants can opt to pay the full cost of processing an application in order to have work commence once the full fee has been paid. FSANZ also collects royalties on publications. This and other minor cost recovered activities, and a number of one-off special projects on behalf of other government agencies, will provide a small amount of revenue (less than $500,000).

Summary of cost recovery impact statement As FSANZ is classified as a non-material agency under the Commonwealth’s cost recovery policy, it is not required to produce a cost recovery impact statement.

Section 5—Budgeted financial statements

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Section 5: Budgeted financial statements

5.1: ANALYSIS OF BUDGETED FINANCIAL STATEMENTS Departmental Statement of Financial Performance

FSANZ has projected an operating loss of $0.8 million in 2004-05. This is a result of the increased workloads being experienced by the organisation. FSANZ is a demand driven organisation that has legislative obligations to respond to external requests to develop or amend standards. These demands have been higher than normal in 2004-05. FSANZ can meet this loss from its reserves. Due to the increasing workloads and consequential rising cost base FSANZ is undertaking a review of its financial position for the out years with the aim of ensuring that statutory obligations continue to be met.

Revenues

Total revenues of $15.3 million in 2004-05 are expected to remain stable across the Budget and forward years.

Revenue from other sources of $1.8 million in 2004-05 are expected to remain stable across the Budget and the forward years. The revenue from other sources is primarily received from the New Zealand Government ($1.3 million) and from cost recovery arrangements for the cost of processing applications to amend the Food Standards Code ($0.5 million).

Expenses

Expenditure in 2004-05 is $16.2 million due to the high workloads being experienced by FSANZ.

Employee expenses will decrease from 2004-05 to 2005-06 and are expected to increase slightly across The forward years.

Supplier expenses will decrease from 2004-05 to 2005-06 and are expected to decrease slightly across the forward years.

Depreciation and amortisation expenses of $0.1 million in 2004-05 are expected to remain stable across the Budget and forward years.

Statement of Financial Position

As a result of the expected operating loss in 2004-05, the cash balances are expected to decrease by a similar amount and then remain stable across the Budget and the forward years.

Property Plant and Equipment is expected to decrease across the forward years as the assets continue to provide service over their useful lives.

Employee provisions are expected to increase slightly over the forward years continuing the trend in recent years.


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5.2: BUDGETED FINANCIAL STATEMENTS TABLES Table 5.1: Budgeted departmental statement of financial performance for the period ended 30 June

Estimated Budget Forward Forward Forwardactual estimate estimate estimate estimate

2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

REVENUERevenues from ordinary activities

Appropriation revenues 13,515 13,531 13,302 13,296 13,586 Other revenues from related entities - - - - - Goods and services - - - - - Interest 75 75 65 65 65 Dividends - - - - - Revenue from sales of assets - - - - - Reversals of previous asset

write-downs - - - - - Net foreign exchange gains - - - - - Rents - - - - - Royalties - - - - - Correction of fundamental error - - - - - Other 1,798 1,798 1,798 1,798 1,798

Revenues from ordinary activities 15,388 15,404 15,165 15,159 15,449

EXPENSEExpenses from ordinary activities

(excluding borrowing costs expense)Employees 10,815 10,386 10,437 10,489 10,544 Suppliers 5,247 4,928 4,643 4,590 4,830 Grants - - - - - Subsidies - - - - - Depreciation and amortisation 125 90 85 80 75 Write-down of assets and

impairment of assets - - - - - Value of assets sold - - - - - Net foreign exchange losses - - - - - Correction of fundamental error - - - - - Other - - - - -

Expenses from ordinary activities 16,187 15,404 15,165 15,159 15,449 (excluding borrowing costs expense)

Borrowing costs expense - - - - - Share of net profits or (losses) of

associates and joint ventures accounted for using the equitymethod - - - - -

Correction of fundamental error - - - - -


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Table 5.1: Budgeted departmental statement of financial performance (cont) for the period ended 30 June


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

Operating surplus or (deficit) from ordinary activities (799) - - - -

Gain or (loss) on extraordinary items - - - - - Correction of fundamental error - - - - -

Net surplus or (deficit) (799) - - - - Outside equity interests in net

surplus or (deficit) - - - - -

Net surplus or deficit attributable to the Australian Government (799) - - - -


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Table 5.2: Budgeted departmental statement of financial position as at 30 June


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

ASSETSFinancial assets

Cash 5,442 5,587 5,946 6,184 6,397 Receivables 34 30 40 40 40 Investments accounted for under

the equity method - - - - - Investments (s.39 FMA Act;

s.18 CAC Act; s.19 CAC Act) - - - - - Other investments - - - - - Accrued revenues - - - - - Other financial assets - - - - -

Total financial assets 5,476 5,617 5,986 6,224 6,437

Non-financial assetsLand and buildings 323 289 260 233 208 Infrastructure, plant and equipment 388 361 338 319 313 Investment properties - - - - - Heritage and cultural assets - - - - - Inventories - - - - - Intangibles 88 78 57 37 18 Other non-financial assets 106 90 75 61 48

Total non-financial assets 905 818 730 650 587

Total assets 6,381 6,435 6,716 6,874 7,024

LIABILITIESInterest bearing liabilities

Loans - - - - - Leases - - - - - Deposits - - - - - Overdraft - - - - - Other interest bearing liabilities - - - - -

Total interest bearing liabilities - - - - -

ProvisionsEmployees 3,052 3,097 3,300 3,448 3,586 Other provisions - - - - -

Total provisions 3,052 3,097 3,300 3,448 3,586

PayablesSuppliers 203 202 290 300 300 Grants - - - - - Dividends - - - - - Borrowing costs - - - - - Other payables - - - - -

Total payables 203 202 290 300 300

Total liabilities 3,255 3,299 3,590 3,748 3,886


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Table 5.2: Budgeted departmental statement of financial position (cont) as at 30 June


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

EQUITY*

Parent entity interestContributed equity 751 761 751 751 763 Reserves 351 351 351 351 351 Statutory funds - - - - - Retained surpluses or

accumulated deficits 2,024 2,024 2,024 2,024 2,024 Total parent entity interest 3,126 3,136 3,126 3,126 3,138

Outside equity interestContributed equity - - - - - Reserves - - - - - Retained surpluses or

accumulated deficits - - - - - Total outside equity interest - - - - -

Total equity 3,126 3,136 3,126 3,126 3,138

Current assets 5,582 5,707 6,061 6,285 6,485 Non-current assets 799 728 655 589 539 Current liabilities 1,708 1,760 2,058 2,151 2,189 Non-current liabilities 1,547 1,539 1,532 1,597 1,697 * ‘Equity’ is the residual interest in assets after deduction of liabilities.


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Table 5.3: Budgeted departmental statement of cash flows for the period ended 30 June


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

OPERATING ACTIVITIESCash receivedGoods and services - - - - - Appropriations 13,515 13,531 13,302 13,296 13,586 Interest 75 75 65 65 65 Dividends - - - - - Other 1,784 1,802 1,788 1,797 1,798 Extraordinary items - - - - - Total cash received 15,374 15,408 15,155 15,158 15,449

Cash usedEmployees 11,273 10,305 10,192 10,278 10,495 Suppliers 5,400 4,958 4,604 4,642 4,741 Grants - - - - - Borrowing costs - - - - - Other - - - - - Extraordinary items - - - - - Total cash used 16,673 15,263 14,796 14,920 15,236 Net cash from or (used by)

operating activities (1,299) 145 359 238 213

INVESTING ACTIVITIESCash receivedPurchase of property, plant,

equipment and intangibles - - - - - Proceeds from sales of financial

instruments - - - - - Bills of exchange and promissory notes - - - - - Repayments of loans made - - - - - Investments (s.39 FMA Act;

s.18 CAC Act; s.19 CAC Act) - - - - - Other - - - - - Extraordinary items - - - - - Total cash received - - - - -

Cash usedPurchase of property, plant

and equipment - 10 - - 12 Purchase of financial instruments - - - - - Bills of exchange and promissory notes - - - - - Loans made - - - - - Investments (s.39 FMA Act;

s.18 CAC Act; s.19 CAC Act) - - - - - Other - - - - - Extraordinary items - - - - - Total cash used - 10 - - 12 Net cash from or (used by)

investing activities - (10) - - (12)


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Table 5.3: Budgeted departmental statement of cash flows (cont) for the period ended 30 June


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

FINANCING ACTIVITIESCash receivedAppropriations - contributed equity - 10 - - 12 Proceeds from issuing financial

instruments - - - - - Proceeds from loans - - - - - Other - - - - - Extraordinary items - - - - - Total cash received - 10 - - 12

Cash usedRepayments of debt - - - - - Capital use charge paid - - - - - Dividends paid - - - - - Other - - - - - Extraordinary items - - - - - Total cash used - - - - - Net cash from/(used by) financing

activities - 10 - - 12 Net increase or (decrease)

in cash held (1,299) 145 359 238 213 Cash at the beginning of

the reporting period 6,741 5,442 5,587 5,946 6,184 Effect of exchange rate movements

on cash at the beginning of reporting period - - - - -

Cash at the end of the reporting period 5,442 5,587 5,946 6,184 6,397


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Table 5.4: Departmental capital budget statement


2004-05 2005-06 2006-07 2007-08 2008-09$'000 $'000 $'000 $'000 $'000

CAPITAL APPROPRIATIONSTotal equity injections - 10 - - 12 Total loans - - - - -

Total capital appropriations - 10 - - 12

Represented by:Purchase of non-financial assets - 10 - - 12 Other - - - - -

Total represented by - 10 - - 12

PURCHASE OF NON-FINANCIAL ASSETSFunded by capital appropriation - 10 - - 12 Funded internally by

Departmental resources - - - - - Total - 10 - - 12


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Table 5.5: Departmental property, plant, equipment and intangibles — summary of movement (Budget year 2005-06)

Land Buildings Other Computer Totalinfrastructure software

plant andequipment

$'000 $'000 $'000 $'000 $'000As at 1 July 2005

Gross book value - 761 949 216 1,926 Accumulated depreciation - 438 561 127 1,126

Opening net book value - 323 388 89 800

Additions:by purchase - - 10 - 10 by finance lease - - - - - from acquisitions of entities or

operations (including restructuring) - - - - -

Net revaluation increment/decrement - - - - - Reclassifications - - - - - Depreciation/amortisation expense - 41 37 12 90 Recoverable amount write-downs - - - - - Other movements - - - - -

Disposals:from disposal of entities or

operations (including restructuring) - - - - - other disposals - - - - -

As at 30 June 2006Gross book value - 761 959 216 1,936 Accumulated depreciation - 479 598 139 1,216

Closing net book value - 282 361 77 720


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5.3: NOTES TO THE FINANCIAL STATEMENTS

The budgeted financial statements for FSANZ are prepared for the budget year, previous year and three forward years. The accounting policies used in preparing these financial statements are consistent with those used in the 2004-05 Annual Report.

Budgeted Statement of Financial Performance

This statement provides a picture of the expected financial results for the agency by identifying full accrual expenses and revenues. This highlights whether the agency is operating at a sustainable level.

Budgeted Statement of Financial Position

This statement shows the financial position of the agency. It enables decision makers to track the management of the agency’s assets and liabilities.

Budgeted Statement of Cash Flows

The budgeted cash flows statement provides important information on the extent and nature of cash flows by categorising them into expected cash flows from operating activities, investing activities and financing activities.

Capital Budget Statement

The capital budget statement shows all planned capital expenditure on non financial assets, whether funded through capital appropriations or from internal sources.

Non Financial Assets – Summary of Movement

This table shows budgeted acquisitions and disposals of non financial assets during the budget year.

Documents

Food Standards Australia New Zealand - Department of · PDF fileSection 1—Agency overview 251 Section 1: Agency overview Food Standards Australia New Zealand (FSANZ) is an independent