Financial Performance – Administered

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Income administered on behalf of Government

Administered Income

Total 2010-11 administered income was $1.306 billion, major items include:

taxation revenue of $15.374 million, primarily comprising the levy imposed on eligible doctors to raise revenue towards the Run Off Cover Scheme Support payment arrangements;
recoveries of $37.735 million, which relates to the collection of monies by Medicare Australia which is recoverable from individuals after the settlement of personal injury claims and recoveries made under arrangements with pharmaceutical companies; and
other revenue of $1.247 billion, which relates to revenues collected from Private Health Insurance Administration Council (PHIAC) for private health insurance administration levies ($321.288 million), Health and Hospital Fund receipts ($688.039 million) and former years administered appropriations for PBS High Cost Drug recoveries ($164.443 million).

Total administered expenses increased by $3.3 billion

Administered Expenses

For the 2010-11 reporting period:

personal benefits expense increased by 6.6% to $30.975 billion ($29.069 billion in 2009-10). Personal benefits primarily relate to the Medicare Benefits and Pharmaceutical Benefits Schemes. These schemes fund access to medical services and medicines;
subsidies expense increased by 12.5% to $7.986 billion ($7.100 billion in 2009-10). Subsidies are primarily administered by the Ageing and Aged Care Division, and relate to residential, aged and community care programs which provide support for healthy ageing for older Australians and quality and cost effective care for older people and support of their carers;
grants expense increased by 12.8% to $4.760 billion ($4.220 billion in 2009-10);
supplier expenses were $323.193 million ($293.701 million in 2009-10); and
write down of assets primarily relates to impairment of vaccines from the drug stockpile inventory of $145.100 million ($5.600 million in 2009-10) and $15.700 million impairment of receivables ($12.9 million in 2009-10).

Total administered assets decreased by $173.939 million

Assets and Liabilities – Administered

Total administered assets decreased by $173.939 million to $944.865 million ($1.118 billion in 2009-10), this is primarily attributable to a decrease in inventories of $127.187 million, and a decrease in investments in portfolio agencies of $80.284 million.

Total administered liabilities increased by $61.524 million

Total administered liabilities increased by $61.524 million to $2.851 billion ($2.789 billion in 2009-10) primarily as a result of an increase in grants owing under grant agreements of $47.628 million.

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