Administered Budget Commentary
as at 30 June 2021
Administered budget variance The below table provides commentary for significant variances between PM&C’s original budget estimates for administered functions, as published in the 2020-21 Portfolio Budget Statements, and the actual expenditure and net asset position for the year. | |
Explanation of major variances | Affected line items and statement |
Grants: Additional funding was received following the 2020-21 original budget for the National Australia Day Council for the Strategic Communication Champaign. | Grants – Administered Schedule of Comprehensive Income |
Supplier expense: Reduction in official visits, functions and travel due to COVID-19 related restrictions starting March 2020 that has continued throughout 2020-21. | Supplier expense – Administered Schedule of Comprehensive Income |
Changes in asset revaluation reserve: Movement in net asset balance in investments in corporate Commonwealth entities and companies which has not been budgeted. | Changes in asset revaluation reserve – Administered Scheduled of Comprehensive Income Investments in corporate Commonwealth entities – Administered Schedule of Assets and Liabilities Revaluation transferred to reserves – Administered Reconciliation Schedule |
The above statement should be read in conjunction with the accompanying notes.
Visit
https://www.transparency.gov.au/annual-reports/department-prime-minister-and-cabinet/reporting-year/2020-21-50