|2012/2013 Planned Results||2012/2013 Actual||2011/2012 Actual Footnote *||$ Change (2012/2013 Planned vs. Actual)||$ Change (2012/2013 Actual vs. 2011/2012 Actual)|
|Net cost of operations before government funding and transfers||569,947||539,313||873,272||30,634||(333,959)|
|Departmental net financial position||46,743||59,372||(5,304)||(12,629)||64,676|
|Totals may differ within and between tables because of rounding.
The net cost of operations, before government funding and transfers, was $539.3 million, a decrease of $333.9 million, or 38.2%, from $873.2 million in 2011/2012. This decrease is mostly due to the completion of the census collection activities. There is also a decrease of $30.6 million, or 5.4%, from $569.9 planned for 2012/2013, to the actual, $539.3 million. The difference between Planned and Actual Spending is partially a result of the implementation of changes announced in Budget 2012.
|Total net liabilities||107,433||188,572||(81,139)|
|Total net financial assets||40,093||41,802||(1,709)|
|Departmental net debt||67,340||146,770||(79,430)|
|Total non-financial assets||126,712||141,466||(14,754)|
|Departmental net financial position||59,372||(5,304)||64,676|
|Totals may differ within and between tables because of rounding.|
The departmental net financial position was $59.3 million at the end of 2012/2013, an increase of $64.7 million from -$5.3 million in 2011/2012. This increase is mostly due to two factors: the decrease in net liabilities resulting from an decrease in accrued liabilities as a result of payments for the workforce adjustment, $35.9 million or 86.7%; and the decrease in employee future benefits as a result of severance liquidation related to the signing of collective agreements, $36.8 million or 44.4%.