March Quarterly Financial Results Report

Christian Porter
State Treasurer

In his release of the Western Australian ‘Quarterly Financial Results Report’ for the nine months to March 31, 2011, Treasurer Christian Porter said the general Government sector recorded an operating surplus of $1.15 billion for the first nine months of 2010‑11, a significantly stronger outcome on the $15 million operating surplus reported in the same period for 2009‑10.

Revenue for the first nine months of 2010‑11 totalled $17.80 billion, up by $2.22 billion on the same period in 2009‑10. This increase was mainly due to an increase in mining royalties (up $1.52 billion), as a result of higher volumes and prices for iron ore this year, and higher taxation revenue which was boosted by a one‑off contribution of $350 million by BHP Billiton and Rio Tinto in response to changes to State Agreement Acts.

General Government sector expenses were $1.09 billion, or 7.0 per cent higher relative to the same period last year. The March quarter outcomes are consistent with the full‑year operating surplus of $784 million in 2010‑11, published in the recent 2011‑12 State Budget.

The March 2011 report is available from the Department of Treasury and Finance website at
www.dtf.wa.gov.au/