F : Funding
F3 : Special accounts
A special account is an appropriation mechanism that notionally sets aside an amount within the CRF to be expended for specific purposes. The type of appropriation provided by a special account is a special appropriation. The appropriation mechanism remains available until the special account is abolished. The amount of appropriation that may be drawn from the CRF, via a special account, is limited to the balance of the particular special account.
Finance has been appropriated under the PGPA Act, s.78 (Departmental) and s.80 (Administered) for expenditure up to the balance of each of the following special accounts.
F3.1 Departmental special accounts
| Comcover | Property | BSSA | CPCSA | Total | |
| 30 June | 30 June | 30 June | 30 June | 30 June | |
| 2017 | 2017 | 2017 | 2017 | 2017 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | |
| Opening cash held by Finance | 1,478 | 198 | - | 412 | 2,088 |
| Opening cash in OPA | 433,065 | 156,676 | 5,856 | 48,315 | 643,912 |
| Opening capital appropriation receivable1 | - | 82,420 | - | - | 82,420 |
| Balance brought forward | 434,543 | 239,294 | 5,856 | 48,727 | 728,420 |
| Appropriations credited | 9,067 | 123,375 | - | 4,151 | 136,593 |
| Other receipts | 143,758 | 93,141 | - | 241,756 | 478,655 |
| Payments made | (91,095) | (272,314) | (5,856) | (167,332) | (536,597) |
| Balance carried forward | 496,273 | 183,496 | - | 127,302 | 807,071 |
| Balance represented by | |||||
| Cash held by Finance | 1,914 | 2,367 | - | 4,881 | 9,162 |
| Cash held in OPA | 494,359 | 122,238 | - | 122,421 | 739,018 |
| Capital appropriation receivable1 | - | 58,891 | - | - | 58,891 |
| Special account balance | 496,273 | 183,496 | - | 127,302 | 807,071 |
| Comcover | Property | BSSA | CPCSA | Total | |
| 30 June | 30 June | 30 June | 30 June | 30 June | |
| 2016 | 2016 | 2016 | 2016 | 2016 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | |
| Opening cash held by Finance | 1,531 | 309 | - | 30 | 1,870 |
| Opening cash in OPA | 379,042 | 164,377 | 5,794 | 110,820 | 660,033 |
| Opening capital appropriation receivable1 | - | 54,309 | - | - | 54,309 |
| Balance brought forward | 380,573 | 218,995 | 5,794 | 110,850 | 716,212 |
| Appropriations credited | 10,151 | 139,052 | - | 3,412 | 152,615 |
| Other receipts | 127,586 | 89,400 | 645 | 129,956 | 347,587 |
| Payments made | (83,767) | (208,153) | (583) | (195,491) | (487,994) |
| Balance carried forward | 434,543 | 239,294 | 5,856 | 48,727 | 728,420 |
| Balance represented by | |||||
| Cash held by Finance | 1,478 | 198 | - | 412 | 2,088 |
| Cash held in OPA | 433,065 | 156,676 | 5,856 | 48,315 | 643,912 |
| Capital appropriation receivable1 | - | 82,420 | - | - | 82,420 |
| Special account balance | 434,543 | 239,294 | 5,856 | 48,727 | 728,420 |
1These amounts have been specifically appropriated for the purposes of the Property Special Account but remain undrawn against Appropriation Acts 2 and 4.
Comcover Special Account
Establishing Instrument: Financial Management and Accountability Determination 2009/05 — Comcover Special Account Establishment 2009. Purpose: For receipts and expenditure relating to the promotion of risk management to General Government Sector entities; to administer the Commonwealth’s general insurance fund; and to make payments in respect of any uninsured superannuation liability claims against an insured Commonwealth entity. This account is non-interest bearing. The special account determination sunsets on 1 April 2019.
Property Special Account 2014
Establishing Instrument: PGPA Act (Property Special Account 2014 – Establishment) Determination 04. Purpose: Facilitates the management of the Commonwealth's non-Defence domestic property portfolio. This account is non- interest bearing. The special account determination sunsets on 1 April 2025.
Business Services Special Account (BSSA)
Establishing Instrument: Financial Management and Accountability Determination 2006/64 — Business Services Special Account Establishment 2006. Purpose: For expenditure relating to sentencing and disposing of records associated with the former Department of Administrative Services (DAS), managing and settling any personal injury and other legal claims arising from activities associated with the former DAS, and to conclude any other activity arising from the former DAS. This account is non-interest bearing. The special account ceased on 1 April 2017.
Coordinated Procurement Contracting Special Account (CPCSA)
Establishing Instrument: Financial Management and Accountability Determination 2008/08 — Coordinated Procurement Contracting Special Account Establishment 2008. Purpose: For expenditure relating to the Whole of Australian Government (WoAG) contract for providing fleet management and leasing services, centralised government advertising activities, and other co-coordinated procurement contracts for the benefit of government entities. The account is non-interest bearing. The special account determination sunsets on 1 October 2018.
| F3.2 Administered special accounts | ||||||
| BAF | EIF | HHF | DCAF | MRFF | Total | |
| 30 June | 30 June | 30 June | 30 June | 30 June | 30 June | |
| 2017 | 2017 | 2017 | 2017 | 2017 | 2017 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
| Balance brought forward | - | - | - | - | - | - |
| Increase | ||||||
| Contribution from Government | - | - | - | 4,164,314 | 1,277,358 | 5,441,672 |
| Investment realised | 3,149,128 | 4,175,785 | - | 7,697,048 | 5,584,742 | 20,606,703 |
| Other receipts | 120,755 | 142,409 | - | 217,805 | 176,708 | 657,677 |
| Total increase | 3,269,883 | 4,318,194 | - | 12,079,167 | 7,038,808 | 26,706,052 |
| Decrease | ||||||
| Purchase of investment | (3,266,263) | (4,291,746) | - | (12,073,738) | (6,968,436) | (26,600,183) |
| Other payments | (3,620) | (26,448) | - | (5,429) | (70,372) | (105,869) |
| Total decrease | (3,269,883) | (4,318,194) | - | (12,079,167) | (7,038,808) | (26,706,052) |
| Balance carried forward | - | - | - | - | - | - |
| BAF | EIF | HHF | DCAF | MRFF | Total | |
| 30 June | 30 June | 30 June | 30 June | 30 June | 30 June | |
| 2016 | 2016 | 2016 | 2016 | 2016 | 2016 | |
| $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
| Balance brought forward | - | - | - | - | - | - |
| Increase | ||||||
| Contribution from Government | - | - | - | 3,449,500 | 3,149,351 | 6,598,851 |
| Investment realised | 3,444,840 | 4,018,017 | 1,859,077 | 4,272,238 | 2,663,546 | 16,257,718 |
| Other receipts | 154,968 | 170,789 | 61,815 | 120,383 | 18,228 | 526,183 |
| Total increase | 3,599,808 | 4,188,806 | 1,920,892 | 7,842,121 | 5,831,125 | 23,382,752 |
| Decrease | ||||||
| Purchase of investment | (3,589,595) | (4,129,347) | (401,400) | (7,839,207) | (5,829,632) | (21,789,181) |
| Other payments | (10,213) | (59,459) | (1,519,492) | (2,914) | (1,493) | (1,593,571) |
| Total decrease | (3,599,808) | (4,188,806) | (1,920,892) | (7,842,121) | (5,831,125) | (23,382,752) |
| Balance carried forward | - | - | - | - | - | - |
Building Australia Fund (BAF) Special Account
Establishing Instrument: Nation-building Funds Act 2008, s.13. Purpose: For making payments in relation to transport infrastructure, communications infrastructure (including the National Broadband Network), energy infrastructure and water infrastructure. The balance of the special account is invested by the Future Fund Board of Guardians. The Future Fund Board of Guardians may invest amounts standing to the credit of the special account in any financial assets, although the special account itself is non-interest bearing.
Education Investment Fund (EIF) Special Account
Establishing Instrument: Nation-building Funds Act 2008, s.132. Purpose: For making payments in relation to higher education infrastructure, research infrastructure, vocational education and training infrastructure, and any other eligible education infrastructure. The balance of the special account is invested by the Future Fund Board of Guardians. The Future Fund Board of Guardians may invest amounts standing to the credit of the special account in any financial assets, although the special account itself is non-interest bearing.
Health and Hospitals Fund (HHF) Special Account
Establishing Instrument: Nation-building Funds Act 2008, s.215. Purpose: For making payments in relation to health infrastructure. The Future Fund Board of Guardians may invest amounts standing to the credit of the special account in any financial assets, although the special account itself is non-interest bearing. This special account ceased 29 October 2015.
DisabilityCare Australia Fund (DCAF) Special Account
Establishing Instrument: DisabilityCare Australia Fund Act 2013, s.11. Purpose: For making reimbursements to State, Territory and Commonwealth Governments in relation to expenditure incurred under the National Disability Insurance Scheme Act 2013. The balance of the special account is invested by the Future Fund Board of Guardians. The Future Fund Board of Guardians may invest amounts standing to the credit of the special account in any financial assets, although the special account itself is non-interest bearing.
Medical Research Future Fund (MRFF)
Establishing instrument: Medical Research Future Fund Act 2015, s.14. Purpose: For making payments in relation to medical research and medical innovation. The balance of the special account is invested by the Future Fund Board of Guardians. The Future Fund Board of Guardians invests amounts standing to the credit of the special account, although the special account itself is non-interest bearing.
The following Special Accounts have not been used during the current and comparative years:
Lands Acquisition Special Account
Establishing Instrument: Lands Acquisition Act 1989, s.89A. Purpose: For the holding of amounts of compensation due to be paid to a person in respect of compulsory acquisition of interests in land where the amount of compensation payable to the person has been determined under the Lands Acquisition Act 1989 but after three months has lapsed the amount remains unpaid due to default or delay on the part of the claimant. To date there have not been any transactions through this account.
Services for Other Entities and Trust Moneys (SOETM) Special Account – Department of Finance
Establishing Instrument: Financial Management and Accountability (Establishment of SOETM Special Account – Finance) Determination 2012/08. Purpose: For the receipt of moneys temporarily held in trust for other persons other than the Commonwealth and for the payment to a person other than the Commonwealth, on behalf of the Government that are not PGPA Act agencies, or as permitted by an Act. The account is non-interest bearing. This special account was established on 26 June 2012 and the determination will sunset on 1 October 2022.
