30 June 2000 to $23.4 billion at 30 June 2004. This mainly reflects forecast growth in employee entitlements and the unfunded superannuation liability with budget sector borrowings forecast to remain steady at around $6.3 billion (see Chart 3.2). Chart 3.2: Projected budget sector liabilities by category as at 30 June Source: Department of Treasury and Finance The underlying growth in assets and liabilities contributes to a significant improvement in the net asset position over the outlook period. Net assets are expected to increase from $14.6 billion as at 30 June 2000 to $17.6 billion by 30 June 2004, with this improvement broadly reflecting the budget operating surpluses projected over the period. Net financial liabilities The Government is committed to maintaining net financial liabilities at prudent levels. 3.4 shows projected general government net financial liabilities for the years from 2000 to 2004. Table 3.4: Projected general government(a) net financial liabilities as at 30 June 2000 2001 2002 2003 2004 Actual Revised Estimate Estimate Estimate $billion Financial assets Cash and deposits 0.9 0.9 1.0 1.0 1.1 Advances paid 0.4 0.3 0.3 0.2 0.1 Investments, loans and placements 1.4 2.6 3.1 3.5 3.9 Growing Victoria 1.0 0.9 0.6 0.3 0.0 Total 3.7 4.8 5.0 5.1 5.1 Financial liabilities Deposits held 0.2 0.2 0.3 0.3 0.3 Advances received 0.1 0.1 0.1 0.1 0.1 Borrowings 6.4 6.4 6.4 6.4 6.4 6.7 6.8 6.8 6.8 6.8 Net debt 3.0 2.0 1.8 1.7 1.7 Net debt (excl.Growing Victoria) 4.0 2.9 2.4 2.1 1.7 Unfunded superannuation 12.3 12.5 12.7 12.9 13.0 Net financial liabilities 15.3 14.5 14.5 14.6 14.7 Net financial liabilities (excl. 16.3 15.4 15.1 14.9 14.7 Growing Victoria)
30 June 2000 to $23.4 billion at 30 June 2004. This mainly reflects forecast growth in employee entitlements and the unfunded superannuation liability with budget sector borrowings forecast to remain steady at around $6.3 billion (see Chart 3.2). Chart 3.2: Projected budget sector liabilities by category as at 30 June Source: Department of Treasury and Finance The underlying growth in assets and liabilities contributes to a significant improvement in the net asset position over the outlook period. Net assets are expected to increase from $14.6 billion as at 30 June 2000 to $17.6 billion by 30 June 2004, with this improvement broadly reflecting the budget operating surpluses projected over the period. Net financial liabilities The Government is committed to maintaining net financial liabilities at prudent levels. 3.4 shows projected general government net financial liabilities for the years from 2000 to 2004. Table 3.4: Projected general government(a) net financial liabilities as at 30 June 2000 2001 2002 2003 2004 Actual Revised Estimate Estimate Estimate $billion Financial assets Cash and deposits 0.9 0.9 1.0 1.0 1.1 Advances paid 0.4 0.3 0.3 0.2 0.1 Investments, loans and placements 1.4 2.6 3.1 3.5 3.9 Growing Victoria 1.0 0.9 0.6 0.3 0.0 Total 3.7 4.8 5.0 5.1 5.1 Financial liabilities Deposits held 0.2 0.2 0.3 0.3 0.3 Advances received 0.1 0.1 0.1 0.1 0.1 Borrowings 6.4 6.4 6.4 6.4 6.4 6.7 6.8 6.8 6.8 6.8 Net debt 3.0 2.0 1.8 1.7 1.7 Net debt (excl.Growing Victoria) 4.0 2.9 2.4 2.1 1.7 Unfunded superannuation 12.3 12.5 12.7 12.9 13.0 Net financial liabilities 15.3 14.5 14.5 14.6 14.7 Net financial liabilities (excl. Growing Victoria) 16.3 15.4 15.1 14.9 14.7
2000-01-BudgetUpdate.docx