Funding
This section identifies the Australian Prudential Regulation Authority's funding structure.
3.1 Appropriations
3.1A: Annual Appropriations ('recoverable GST exclusive')
Annual appropriations for 2020 | |||||
Annual appropriation | Adjustments to appropriation 1 | Total appropriation | Appropriation applied in 2020 (current and prior years) | Variance 2 | |
$'000 | $'000 | $'000 | $'000 | $'000 | |
Departmental | |||||
Ordinary annual services | - | 11,410 | 11,410 | 11,410 | - |
Total departmental | - | 11,410 | 11,410 | 11,410 | - |
Administered | |||||
Other services | |||||
New administered outcomes | - | - | - | - | - |
Total administered | - | - | - | - | - |
Annual appropriations for 2019 | |||||
Annual appropriation | Adjustments to appropriation 1 | Total appropriation | Appropriation applied in 2019 (current and prior years) | Variance 2 | |
$'000 | $'000 | $'000 | $'000 | $'000 | |
Departmental | |||||
Ordinary annual services | 126 | 9,111 | 9,237 | 7,967 | 1,270 |
Total departmental | 126 | 9,111 | 9,237 | 7,967 | 1,270 |
Administered | |||||
Other services | |||||
New administered outcomes | - | - | - | - | - |
Total administered | - | - | - | - | - |
1 PGPA Act Section 74 receipts | |||||
2 The variance between the total appropriation and the appropriation applied is undrawn appropriations at year end relating to section 74 receipts submitted to the Official Public Account. | |||||
3.1B Unspent annual appropriations ('recoverable GST exclusive')
2020 | 2019 | |
$'000 | $’000 | |
Departmental | ||
Appropriation Act (No. 1) 2019-20 | - | - |
Appropriation Act (No. 1) 2018-19 | - | 1,270 |
Total | - | 1,270 |
3.1C Special appropriations applied ('recoverable GST exclusive')
Appropriation applied | ||||
2020 | 2019 | |||
Authority | Type | Purpose | $'000 | $’000 |
Australian Prudential Regulation Authority Act 1998 – section 50, Departmental | Unlimited | To provide an appropriation for levy money received that exceeds the amount determined by the Minister under section 50(1) of the Australian Prudential Regulation Act 1998. | 188,086 | 143,564 |
Total | 188,086 | 143,564 | ||
3.2 Special Accounts
APRA Special Account (Departmental)1 | Financial Claims Scheme Special Account (Administered)2 | Risk Equalisation Special Account (Administered)3 | ||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |
$'000 | $’000 | $'000 | $’000 | $'000 | $’000 | |
Balance brought forward from previous period | 71,678 | 83,343 | 835 | 835 | - | - |
Increases: | ||||||
Total departmental increases | 211,693 | 162,225 | - | - | - | - |
Special appropriation for reporting period | - | - | - | - | 472,666 | 463,146 |
Total administered increases | - | - | - | - | 472,666 | 463,146 |
Available for payments | 283,371 | 245,568 | 835 | 835 | 472,666 | 463,146 |
Decreases: | ||||||
Total departmental decreases | (210,543) | (173,890) | - | - | - | - |
Administered | ||||||
Repayments made from the Special Account | - | - | - | - | (472,666) | (463,146) |
Total administered decreases | - | - | - | - | (472,666) | (463,146) |
Balance represented by | ||||||
Cash in APRA official bank accounts | 3,553 | 2,838 | - | - | - | - |
Cash with the Official Public Account (OPA) | 69,275 | 68,840 | 835 | 835 | - | - |
Total balance carried to the next period | 72,828 | 71,678 | 835 | 835 | - | - |
1 Appropriation: Public Governance, Performance and Accountability Act 2013, section 80. Establishing Act: Australian Prudential Regulation Authority Act 1998, section 52. Purpose: To pay the costs and other obligations incurred by APRA in the performance of its functions or the exercise of its powers; to pay any remuneration or allowances payable to persons appointed or engaged under the APRA Act; and to make any other payments that APRA is authorised or required to make under the APRA Act or any other law of the Commonwealth (refer subsection 54(1) of the Australian Prudential Regulation Authority Act 1998). | ||||||
2 Appropriation: Public Governance, Performance and Accountability Act 2013, section 80. Establishing Act: Australian Prudential Regulation Authority Act 1998, section 54A. There were no transactions debited or credited to the Financial Claims Scheme Special Account in the current reporting period. Purpose: To meet account-holders' entitlements under Subdivision C (Payment of account-holders with declared ADI) of Division 2AA of Part II of the Banking Act 1959; meet persons' entitlements under Division 3 (Early payment of claims) of Part VC of the Insurance Act 1973; pay APRA's agents or delegates amounts equal to the entitlements the agents or delegates meet on APRA’s behalf or in the performance of APRA’s delegated functions; and repayment of principal, interest and other costs connected with the borrowings under Part 5, Division 2 of the APRA Act (refer to section 54C of the Australian Prudential Regulation Authority Act 1998). | ||||||
3 Appropriation: Public Governance, Performance and Accountability Act 2013, section 80. Establishing Act: Private Health Insurance Act 2007, section 318-1. There were 146 (2019: 148) transactions debited and credited to the Risk Equalisation Special Account in the current reporting period. Purpose: To make payments to private health insurers in accordance with the Private Health Insurance (Risk Equalisation Policy) Rules 2015 (refer to section 318-10 of the Private Health Insurance Act 2007). | ||||||
Collapsed Insurer Special Account Appropriation: Public Governance, Performance and Accountability Act 2013, section 80. Establishing Act: Australian Prudential Regulation Authority Act 1998, section 54F. There were no transactions debited or credited to the Collapsed Insurer Special Account in the current reporting period, which keeps the account with a $nil balance. Purpose: To make payments to help meet a collapsed insurer's liabilities to the people insured under its complying health insurance policies that the collapsed insurer is unable to meet itself; to make payments by way of refund of amounts paid by way of the collapsed insurer levy or late payment penalty in respect of unpaid amounts of the collapsed insurer levy; and to meet APRA's associated administrative costs under subsection 54H(1) of the Australian Prudential Regulation Authority Act 1998. | ||||||
3.3 Regulatory charging summary
2020 | 2019 | ||
$'000 | $’000 | ||
Amounts applied | |||
Departmental | |||
Special appropriations (including special accounts) | 188,086 | 143,564 | |
Own source revenue | 4,003 | 4,474 | |
Administered | - | - | |
Total amounts applied | 192,089 | 148,038 | |
Expenses | |||
Departmental | 195,951 | 157,974 | |
Administered | - | - | |
Total expenses | 195,951 | 157,974 | |
External revenue | |||
Departmental | 192,089 | 148,038 | |
Administered | - | - | |
Total revenue | 192,089 | 148,038 | |
Regulatory charging activities: | |||
Financial Industry Supervisory Levies | |||
Statistical information provided to RBA | |||
Statistical information provided to ABS | |||
Assessment of models-based capital adequacy requirements for ADIs - Basel II | |||
Committed Liquidity Facility (CLF) reviews, assessment, size determination and approvals for ADIs - Basel III | |||
Cost recovery implementation statements for the above activities, excluding charges to the RBA and ABS as these are intra-governmental, are available at: | |||
https://www.apra.gov.au/adis-fees-and-levies | | ||
Visit
https://www.transparency.gov.au/annual-reports/australian-prudential-regulation-authority/reporting-year/2019-20-37