HOUSING ACT
Objectives
Housing ACT’s principal objective is to provide those people in the community in housing stress and suffering social and financial disadvantage with safe, affordable and appropriate housing that responds to their individual circumstances and needs.  In doing so, Housing ACT helps to alleviate disadvantage and foster a safer, stronger and more cohesive society.
Housing ACT undertakes its activities in accordance with its Strategic Focus, which is based around the following five strategic themes:
•	improving outcomes for clients;
•	engaging and involving clients;
•	building better community partnerships;
•	serving and contributing to good governance; and
•	performing as a best practice organisation.
Through focussing on these themes, Housing ACT aims to improve linkages between programs and ensure that the emphasis on clients remains the highest priority, thereby helping to reduce poverty and exclusion for some of the most vulnerable in the community.
2009-10 Priorities
Strategic and operational issues to be pursued in 2009-10 include:
•	implementing the reforms agreed with the Commonwealth under the National Affordable Housing Agreement and related National Partnership Agreements in accordance with the provisions of the Intergovernmental Agreement on Federal Financial Relations.  This includes the Nation Building and Jobs Plan stimulus package announced by the Commonwealth in February 2009 and fast-tracking of the A Place to Call Home homelessness initiative to deliver ten dwellings over 2008-09 and 2009-10;
•	continuing to improve service delivery by better aligning resources to focus on tenant needs, ensuring that tenancies are sustainable and that tenants are able to access the necessary support services;
•	continuing to implement the public housing asset management strategy to refurbish or replace public housing to better meet tenant needs, including the redevelopment of multi-unit sites and continuing to implement the program for improving the energy efficiency of public housing;
•	implementing a range of services to assist address homelessness in the ACT, including introducing a Street to Home program to provide an active outreach program to rough sleepers in the ACT, a Building Housing Partnerships Program to assist break the cycle of homelessness through the provision of skills and supports to enable vulnerable families sustain their tenancy and a program to support victims of domestic violence to ensure that they can remain housed in place, where appropriate, using the Residential Tenancies Act 1996;
•	implementing the shared equity scheme;
•	continuing to improve services to the most vulnerable and needy in the community by providing more flexible housing assistance that best meets the needs of applicants, including by extending the partnership with Centrelink to provide joint services at shopfronts, improving services to indigenous families in the Territory, expanding services to younger people under the Youth Housing Program and expanding the Transitional Housing Programs; and
•	implementing the new housing information system.
Business and Corporate Strategies
In accordance with the Strategic Focus, Housing ACT will implement strategies and direct resources towards reducing homelessness and exclusion for the Territory’s most vulnerable people and thereby help to build a stronger and more inclusive and cohesive community.
Housing ACT will focus on the outcomes of the tenant satisfaction surveys and increase participation by tenants and the community in policy development and service delivery.
Housing ACT will focus on better integrating service delivery with other parts of the government and the community sector, to better match services to the needs of tenants, including the re-alignment of properties to meet the needs of tenants and applicants, establishing a common applicant list for public and community housing, establishing a central intake service for homelessness services and co-locating the crisis accommodation advice service within the social housing Gateway Services.
In conjunction with the implementation of the new business system, improved work flows and streamlined business practices will be introduced to further integrate business operations, achieve efficiencies and cost savings and provide better information.
Housing ACT will implement strategies to strengthen the skills and professionalism of staff, encourage a work life balance and retain staff.

Estimated Employment Level
2008-09
Budget			2008-09
Est. Outcome	2009-10
Budget	
218		  Staffing  (FTE)1	209	234	
Note:
1.	The estimated outcome of FTE staff excludes contract staff that occupy temporary vacant positions whilst recruitment is pending.

Strategic Indicators
Strategic Indicator 1
Provision of housing to people most in need

This indicator demonstrates the focus of public housing priority allocations on housing those most in need within 90 days.  Needs may include:  homelessness; having mental health issues, serious medical issues or a disability, such as frail-aged, where the natural support systems are at risk of breaking down; women with or without children escaping domestic violence; indigenous people facing complex issues; and families with children at risk.
Strategic Indicator 21
The provision of housing enables tenants the opportunity to be part of a community

Note:
1.	Actual result is taken from the local and national social housing survey.

A key to successful housing outcomes for those in social housing is whether the housing enables tenants to integrate effectively into the community through being able to readily access education and employment opportunities.  By reducing concentrations of disadvantage, poverty and exclusion, with the associated social problems, and thereby avoiding social isolation, social housing helps build a safe, healthy and more cohesive community.

Strategic Indicators cont.

Strategic Indicator 31
The provision of outreach services to sustain tenants in longer term housing

Note:
1.	New strategic indicator.

A key to successful housing outcomes for those tenants transitioning from homelessness or crisis accommodation to mainstream social housing is access to appropriate and adequate supports from outreach services to assist them sustain their tenancy.  This indicator shows the increasing proportion of homelessness support provided as outreach support to tenants, to assist them sustain their tenancy in longer term accommodation.

Output Class
	Total Cost1	Government Payment for Outputs	
	2008-09
Est. Outcome
$’000	2009-10
Budget
$’000	2008-09
Est. Outcome
$’000	2009-10
Budget
$’000	
Output Class 1:
Social Housing Services	114,763	137,069	26,507	46,705	
Output 1.1:  Social Housing Services	114,763	137,069	26,507	46,705	
Note:
1.	Total cost includes depreciation and amortisation of $14.244 million in 2008-09 and $13.772 million in 2009-10.
Output Description
The provision and management of public housing tenancies and properties and the provision of support and resources to homelessness services and community housing providers.

Accountability Indicators
	2008-09
Targets	2008-09
Est. Outcome	2009-10
Targets	
Output Class 1:  Social Housing Services	
Output 1.1:  Social Housing Services	
				
a.	Priority Allocations	96%	96%	96%	
Percentage of public housing allocations to priority and highest need applicants.	
b.	Number of properties managed1, 2
-	Public housing properties
-	Community housing properties	
11,580
250	
11,583
245	
11,731
245	
For the purposes of this indicator a property is defined as a unit of accommodation to which a tenancy agreement can be made as defined by the Australian Institute of Health and Welfare.  A tenancy unit is a way of counting the maximum number of distinct rentable units such as a house, townhouse, duplex, flat or rooms in a boarding house.	
c.	Percentage of public housing tenants receiving rebates1	87%	87%	87%	
Eligible tenants are entitled to a rebate of rent such that the rent payable is no more than 25 per cent of assessable household income.  Tenants not in receipt of a rebate pay market rent.  The indicator records the percentage of tenants in receipt of a rebate.	
d.	Annual number of client service visits conducted	10,750	10,789	10,900	
The number of current clients visited during the financial year is the combined total of 90 days and annual client service visits undertaken.	
e.	Overall satisfaction of tenants with the provision of public housing1,3	³ 65%	71%	³ 68%	
Tenant satisfaction is measured biennially through the National Social Housing Survey and in the alternative years through an internal survey.	
f.	Average cost per dwelling of public housing4	$9,685	$9,708	$9,914	
Total cost of public housing excluding the direct grants to community service providers and to the community-housing sector divided by the stock number.	
g.	Percentage of community housing tenants receiving rebates1	92%	96%	95%	
Eligible tenants are entitled to a rebate of rent such that the rent payable is no more than 25% of assessable household income.  Tenants not eligible for a rebate pay market rent.  The indicator records the number of tenants in receipt of a rebate compared to the total number of tenants.	
h.	Overall satisfaction of tenants with the provision of community housing1,3	77% 	73%	77%	
Tenant satisfaction is measured biennially through the National Community Housing Survey.	

Accountability Indicators cont.

	2008-09 
Targets	2008-09 
Est. Outcome	2009-10 
Targets	
Output 1.1:  Social Housing Services cont.	
				
i.	Percentage of routine vacant properties re-let within 28 days5	85%	87%	85%	
Upon vacancy, properties that are available for re-letting after undertaking cleaning and/or minor repairs and maintenance are included in the routine vacancy turnaround times.	
j.	Percentage of properties undergoing refurbishment re-let within agreed program milestones 	90%	87%	90%	
Upon vacancy, those properties not available for re-letting before substantial works to repair and maintain or upgrade the property are undertaken are included on the refurbishment vacant path prior to re-letting.	
k.	Percentage of tenant accounts ³ $500 and four or more weeks in arrears6	90%	83%	90%	
Tenants with rent arrears exceeding 4 weeks rent and with debts exceeding $500 are required to enter into agreements to repay the arrears within a reasonable time either prior to an Order to repay the debt has been made by the ACT Civil and Administrative Tribunal or in conjunction with an Order.  To maintain the sustainability of the tenancy and not create household stress policy guidelines provide that the repayment of arrears and the rent payments are not to exceed 30 per cent of total income.	
l.	Percentage of rent received	99%	99%	99%	
Percentage of rent received from tenants compared to rent charged, after rebates. 	
m.	Average rent receivable after rebate per dwelling	$6,502	$6,599	$6,752	
Rent receivable from tenants to fund the public housing operations.  Based upon the total rent receivable less rebates and allowances divided by the number of dwelling units. 	
n.	The number of SAAP support periods each year.7	n/a	n/a	2,900	
The number of Supported Accommodation Assistance Program (SAAP) support periods in the year.	
				
Notes:
1.	‘Public housing’ relates to housing provided by Housing ACT directly or via head-leased properties to community organisations to provide tenancy management and support whilst ‘community housing’ refers to those properties controlled and managed by community organisations.
2.	The increase in public housing dwelling units is due to the increased dwellings provided under the National Partnership Agreements, including the Nation Building and Jobs Plan stimulus package and the “A Place to Call Home” homelessness initiative.
3.	The results for public housing are from the internal survey undertaken in 2008.  The results for community housing are those from the 2007 National Social Housing Survey for community housing pending finalisation of the 2009 community housing survey.
4.	The average cost per dwelling is higher in 2009-10 as a result of higher costs for employees, water and sewerage rates and consumption and other property costs.  The higher employee costs are due to increased staffing levels as a result of the transfer of the management of homelessness services to Housing ACT and the creation of an implementation team to deliver the Nation Building and Jobs Plan stimulus package, and higher wages from the collective agreement.
5.	Routine vacant properties excludes those hard to let properties, where the hard to let properties are defined as those dwellings that have been refused by three or more applicants on the applicant list or are in complexes that have experienced low demand from applicants over the past twelve months.
6.	There is a continuing focus on reducing tenant arrears with the deployment of early intervention strategies to ensure that tenants engage with Housing ACT and support services to identify and address issues as early as possible, including debt.  However, the deterioration of the economic climate may impact upon the level of arrears.
7.	New measure in 2009-10.

Changes to Appropriation
Changes to Appropriation - Departmental						
 	2008-09	2009-10	2010-11	2011-12	2012-13	
Government Payment for Outputs	Est. Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2008-09 Budget	23,395	23,389	23,726	24,226	24,226	
						
2009-10 Budget Policy Adjustment						
Efficiency Dividend	 - 	 - 	(84)	(86)	(88)	
						
2009-10 Budget Technical Adjustments						
Revised Indexation Parameters	 - 	 - 	 - 	 - 	289	
Revised Indexation Parameters - Community Sector Funding		(15)	(15)	(16)	19	
Revised Commonwealth Grants - CSHA, SAAP	(88)	29	(1,220)	(2,497)	(3,671)	
National Partnership - Homelessness 	 - 	926	1,336	1,401	1,401	
National Partnership - Nation Building and Jobs Plan - Social Housing	3,200	3,226	 - 	 - 	 - 	
Transfer - SAAP from DHCS	 - 	19,150	19,964	20,350	20,897	
						
2009-10 Budget	26,507	46,705	43,707	43,378	43,073	

Changes to Appropriation - Departmental						
 	2008-09	2009-10	2010-11	2011-12	2012-13	
Capital Injections	Est. Out.	Budget	Estimate	Estimate	Estimate	
 	$'000	$'000	$'000	$'000	$'000	
						
2008-09 Budget	14,430	7,333	7,334	7,000	7,000	
						
FMA Section 16B Rollover from 2007-08						
Improvement in Energy Efficiency in Public Housing	73	 - 	 - 	 - 	 - 	
						
3rd Appropriation						
Homelessness Initiative - A Place to Call Home	2,500	 - 	 - 	 - 	 - 	
						
Technical Adjustment						
Transfer - CSTDA Supporting People with a Disability from DHCS	450	1,240	 - 	 - 	 - 	
						
2009-10 Budget Policy Adjustment						
Special Care Packages for Extraordinary High Needs Clients	 - 	200	 - 	 - 	 - 	
						
2009-10 Budget Technical Adjustments						
National Partnership - Homelessness (A Place to Call Home)	1,000	1,000	1,000	1,000	1,000	
National Partnership - Social Housing	3,219	3,220	 - 	 - 	 - 	
National Partnership - Nation Building and Jobs Plan - Social Housing	967	62,289	28,049	5,018	 - 	
Rollover - CSTDA Supporting People with a Disability	(150)	150	 - 	 - 	 - 	
Rollover - Helping Young People with Disabilities in Residential Aged Care Services	(500)	500	 - 	 - 	 - 	
Rollover - Upgrade Infrastructure Narrabundah Long Stay Caravan Park	(150)	150	 - 	 - 	 - 	
						
2009-10 Budget	21,839	76,082	36,383	13,018	8,000	

2009-10 Capital Works Program
 	Estimated	Estimated	2009-10 	2010-11 	2011-12 	Expected 	
	Total	Expenditure	Financing	Financing	Financing	Completion 	
	Cost	Pre 2009-10 				Date  	
 	$’000	$’000	$’000	$’000	$’000	 	
							
New Capital Works							
National Partnership - Nation Building and Jobs Plan - Social Housing	96,323	967	62,289	28,049	5,018	May 2011	
National Partnership - Homelessness (A Place to Call Home)1	7,500	3,500	1,000	1,000	1,000	Jun 2013	
National Partnership - Social Housing	6,439	3,219	3,220	-	-	Jun 2010	
							
Total New Capital Works	110,262	7,686	66,509	29,049	6,018	 	
 	 	 	 	 	 	 	
Works in Progress							
Upgrade Infrastructure at the Narrabundah Long Stay Caravan Park 	600	450	150	-	-	Jun 2010	
							
Total Works in Progress	600	450	150	-	-		
Total Departmental Capital Works	110,862   	8,136  	66,659	29,049   	6,018	 	
Note:
1.	$1 million is forecast for the 2012-13 financial year.

Housing ACT
Operating Statement
2008-09 			2008-09 	 2009-10 		2010-11 	2011-12 	2012-13 		
Budget			Est.Outcome	 Budget	 Var	Estimate	Estimate	Estimate		
$'000			$'000	 $'000	%	$'000	 $'000	 $'000		
		Income								
		Revenue								
23,395		Government Payment for Outputs	26,507	46,705	76	43,707	43,378	43,073		
75,288		User Charges - Non ACT Government	76,442	79,211	4	82,715	84,988	87,339		
0		Grants from the Commonwealth	219	0	-100	0	0	0		
2,727		Interest	2,307	984	-57	753	753	753		
11,794		Other Revenue	14,796	6,240	-58	3,907	3,930	3,977		
113,204		Total Revenue	120,271	133,140	11	131,082	133,049	135,142		
		Gains								
747		Other Gains	747	0	-100	0	0	0		
747		Total Gains	747	0	-100	0	0	0		
113,951		Total Income	121,018	133,140	10	131,082	133,049	135,142		
		Expenses								
16,885		Employee Expenses	16,074	17,959	12	18,262	18,598	19,101		
2,209		Superannuation Expenses	2,238	2,937	31	2,984	3,038	3,122		
70,957		Supplies and Services	71,900	74,604	4	74,200	75,937	77,710		
15,311		Depreciation and Amortisation	14,244	13,772	-3	14,798	15,115	15,448		
4,778		Borrowing Costs	4,778	4,574	-4	4,363	4,152	3,942		
2,266		Grants and Purchased Services	2,310	20,767	799	23,096	19,787	19,255		
1,959		Other Expenses	3,168	2,382	-25	2,308	2,310	2,358		
51		Transfer Expenses	51	74	45	82	91	91		
114,416		Total Ordinary Expenses	114,763	137,069	19	140,093	139,028	141,027		
0		Share of Operating Result from Joint Venture accounted for using the Equity Method	0	2,343	-	3,843	0	0		
-465		Operating Result	6,255	-1,586	-125	-5,168	-5,979	-5,885		

Housing ACT
Balance Sheet
  Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned		
as at 30/6/09			as at 30/6/09	as at 30/6/10	   Var	as at 30/6/11	as at 30/6/12	as at 30/6/13		
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000		
		Current Assets								
25,059		Cash and Cash Equivalents	28,490	11,002	-61	14,580	23,555	33,133		
4,070		Receivables	5,108	5,167	1	5,249	5,333	5,455		
21,460		Assets Held for Sale	18,906	1,066	-94	1,246	1,446	1,646		
97		Other	29	29	-	29	29	29		
50,686		Total Current Assets	52,533	17,264	-67	21,104	30,363	40,263		
		Non Current Assets								
8,600		Receivables	4,335	2,115	-51	635	635	635		
7,425		Investments	0	2,475	-	4,950	6,930	8,910		
3,774,072		Property, Plant and Equipment	3,675,652	3,778,271	3	3,875,502	3,953,706	4,028,411		
2,848		Intangibles	0	1,930	-	1,585	1,568	1,244		
3,700		Capital Works in Progress	13,707	3,345	-76	3,150	2,945	2,740		
3,796,645		Total Non Current Assets	3,693,694	3,788,136	3	3,885,822	3,965,784	4,041,940		
3,847,331		TOTAL ASSETS	3,746,227	3,805,400	2	3,906,926	3,996,147	4,082,203		
		Current Liabilities								
3,531		Payables	3,899	3,899	-	3,899	3,899	3,899		
4,834		Interest Bearing Liabilities	4,833	4,833	-	4,944	4,862	4,728		
84		Finance Leases	84	80	-5	171	178	185		
3,813		Employee Benefits	3,957	3,971	..	3,990	4,009	4,028		
2,957		Other	3,337	3,259	-2	3,259	3,259	3,259		
15,219		Total Current Liabilities	16,110	16,042	..	16,263	16,207	16,099		
		Non Current Liabilities								
96,256		Interest Bearing Liabilities	96,257	91,423	-5	86,478	81,615	76,887		
156		Finance Leases	159	264	66	265	267	269		
335		Employee Benefits	546	549	1	554	559	564		
9		Other	9	0	-100	0	0	0		
96,756		Total Non Current Liabilities	96,971	92,236	-5	87,297	82,441	77,720		
111,975		TOTAL LIABILITIES	113,081	108,278	-4	103,560	98,648	93,819		
3,735,356		NET ASSETS	3,633,146	3,697,122	2	3,803,366	3,897,499	3,988,384		
		REPRESENTED BY FUNDS EMPLOYED								
963,832		Accumulated Funds	977,675	1,074,171	10	1,127,386	1,156,425	1,180,540		
2,771,524		Reserves	2,655,471	2,622,951	-1	2,675,980	2,741,074	2,807,844		
3,735,356		TOTAL FUNDS EMPLOYED	3,633,146	3,697,122	2	3,803,366	3,897,499	3,988,384		

Housing ACT
Cash Flow Statement
  2008-09 			  2008-09 	   2009-10 		  2010-11 	    2011-12 	  2012-13 		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
23,395		Cash from Government for Outputs	26,507	46,705	76	43,707	43,378	43,073		
74,732		User Charges	75,883	78,633	4	82,110	84,381	86,686		
2,727		Interest Received	2,307	984	-57	753	753	753		
0		Grants Received from the Commonwealth	219	0	-100	0	0	0		
2,730		Other Revenue	3,105	2,690	-13	2,646	2,667	2,674		
103,584		Operating Receipts	108,021	129,012	19	129,216	131,179	133,186		
		Payments								
16,916		Related to Employees	16,105	17,942	11	18,238	18,574	19,077		
2,209		Related to Superannuation	2,238	2,937	31	2,984	3,038	3,122		
70,414		Related to Supplies and Services	71,356	74,681	5	74,211	75,948	77,721		
4,778		Borrowing Costs	4,778	4,574	-4	4,363	4,152	3,942		
2,266		Grants and Purchased Services	2,310	20,767	799	23,096	19,787	19,255		
817		Other	862	888	3	824	824	824		
51		Territory Receipts to Government	51	74	45	82	91	91		
97,451		Operating Payments	97,700	121,863	25	123,798	122,414	124,032		
6,133		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	10,321	7,149	-31	5,418	8,765	9,154		
		CASH FLOWS FROM INVESTING ACTIVITIES								
		Receipts								
67,039		Proceeds from Sale of Property, Plant & Equipment	49,846	51,926	4	35,344	25,456	26,496		
67,039		Investing Receipts	49,846	51,926	4	35,344	25,456	26,496		
		Payments								
84,524		Purchase of Property, Plant and Equipment and Capital Works	77,813	147,139	89	68,638	33,189	29,080		
306		Purchase of Land and Intangibles	306	600	96	0	0	0		
84,830		Investing Payments	78,119	147,739	89	68,638	33,189	29,080		
-17,791		NET CASH INFLOW/ (OUTFLOW) FROM INVESTING ACTIVITIES	-28,273	-95,813	-239	-33,294	-7,733	-2,584		
 		CASH FLOWS FROM FINANCING ACTIVITIES								
		Receipts								
14,430		Capital Injection from Government	21,839	76,082	248	36,383	13,018	8,000		
60		Borrowings Received	60	60	-	60	60	60		
14,490		Financing Receipts	21,899	76,142	248	36,443	13,078	8,060		
		Payments								
4,766		Repayment of Borrowings	4,766	4,894	3	4,894	5,005	4,922		
50		Repayment of Finance Lease	50	72	44	95	130	130		
4,816		Financing Payments	4,816	4,966	3	4,989	5,135	5,052		
9,674		NET CASH INFLOW/ (OUTFLOW) FROM FINANCING ACTIVITIES	17,083	71,176	317	31,454	7,943	3,008		
-1,984		NET INCREASE/ (DECREASE) IN CASH HELD	-869	-17,488	#	3,578	8,975	9,578		
27,043		CASH AT BEGINNING OF REPORTING PERIOD	29,359	28,490	-3	11,002	14,580	23,555		
25,059		CASH AT THE END OF THE REPORTING PERIOD	28,490	11,002	-61	14,580	23,555	33,133		

Housing ACT
Statement of Changes in Equity
    Budget			Est.Outcome	    Planned		   Planned	   Planned	   Planned		
as at 30/6/09			as at 30/6/09	as at 30/6/10	   Var	as at 30/6/11	as at 30/6/12	as at 30/6/13		
   $'000			   $'000	     $'000	    %	    $'000	    $'000	    $'000		
3,465,973		Opening Balance	3,714,967	3,633,146	-2	3,697,122	3,803,366	3,897,499		
		Accumulated Funds								
-465		Operating Result for the Period	6,255	-1,586	-125	-5,168	-5,979	-5,885		
		Reserves								
233,418		Increase/(Decrease) in asset revaluation reserve	-131,915	-32,520	75	53,029	65,094	66,770		
22,000		Transfer to/from Reserves	22,000	22,000	-	22,000	22,000	22,000		
254,953		Total Income And Expense For The Period	-103,660	-12,106	88	69,861	81,115	82,885		
		Transactions Involving Equity Holders Affecting Accumulated Funds								
14,430		Capital Injections	21,839	76,082	248	36,383	13,018	8,000		
3,735,356		Closing Balance	3,633,146	3,697,122	2	3,803,366	3,897,499	3,988,384		
Notes to the Budget Statements
Significant variations are as follows:
Operating Statement
•	government payment for outputs:
•	the increase of $3.112 million in the 2008-09 estimated outcome from the original budget is due to the additional funding provided by the Commonwealth under the Nation Building and Jobs Plan ($3.2 million), partially offset by decreased funding under the Commonwealth State Housing Agreement as a result of relative population movements between the states and territories ($0.088 million); and
•	the increase of $20.198 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to transfer of the Homelessness and Supported Accommodation Program (SAAP) funding from the Department of Disability, Housing and Community Services (DHCS) ($19.179 million), additional funding from the Commonwealth under the National Partnership Agreement — homelessness ($0.926 million), increase in National Affordable Housing Agreement funding ($0.367 million), community sector indexation ($0.021 million), additional funding for the Nation Building and Jobs Plan ($0.026 million) and for accommodating detainees released from the Alexander Maconochie Centre ($0.038 million), partly offset by the effect of one-off funding for the review of Children in Public Housing ($0.110 million) and the Water Demand -Management funding ($0.250 million) in 2008-09 .
•	user charges — non ACT Government:
•	the increase of $1.154 million in the 2008-09 estimated outcome from the original budget is due to the delay in implementing the shared equity scheme ($1.010 million) and the additional rents received from the increase in market rents ($0.144 million); and
•	the increase of $2.769 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the increase in market rents for 2009-10 following the re-assessment of market rents and the indexation of tenant pensions ($2.574 million) and additional rental receipts from new properties under the National Partnership Agreements ($0.509 million), partly offset by the loss of properties under the shared equity scheme ($0.314 million).
•	Grants from the Commonwealth:
•	the increase of $0.219 million in the 2008-09 estimated outcome from the original budget is due to the provision of additional funding by the Commonwealth to improve indigenous housing outcomes in the Territory; and
•	the decrease of $0.219 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to cessation of Commonwealth funding noted above.
•	interest:
•	the decrease of $0.420 million in the 2008-09 estimated outcome from the original budget is due to lower interest earned on the investment in the Lyons Estate Redevelopment Joint Venture with the early sale of the retirement village site to the joint venture ($0.648 million), partly offset by higher interest earned on other investments ($0.228 million); and
•	the decrease of $1.323 million in 2009-10 Budget from the 2008-09 estimated outcome is due to the lower interest rates on investments and the lower amounts available for investment.
•	other revenue:
•	the increase of $3.002 million in the 2008-09 estimated outcome from the original budget is due to higher tenant responsible maintenance charges ($0.423 million), higher miscellaneous receipts including recoveries and rebates from the workers’ compensation premium and the facility manager ($0.264 million), proceeds from the sale of properties above book value, particularly for Fraser Court ($4.465 million) offset by the delay in the sale of Hartigan Gardens and properties under the shared equity scheme ($2.150 million); and
•	the decrease of $8.556 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the reduction in profit on sales to more normal levels following the sale of Fraser Court in 2008-09 ($10.465 million), the reduction in miscellaneous income from rebates or credits from the workers’ compensation premium, the facility manager and tenant responsible maintenance recoveries ($0.328 million) and the reduction in one-off funding for refurbishment of Narrabundah House ($0.190 million), partly offset by profit on sale from Hartigan Gardens ($2.355 million) and the increase in site fees at the Narrabundah Long Stay Caravan Park ($0.072 million).
•	other gains:
•	the decrease of $0.747 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the one-off transfer of the Narrabundah pre-school site for the construction of accommodation to house young people with disabilities currently residing in residential aged care facilities.
•	employee and superannuation expenses:
•	the decrease of $0.782 million in the 2008-09 estimated outcome from the original budget is mainly due to lower workers’ compensation premium, savings arising from the timing of recruitment, partly offset by slightly higher superannuation contributions and additional staffing costs associated with implementing the Nation Building and Jobs Plan Package; and
•	the increase of $2.584 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to budgeting at the full complement of staff numbers and increased salary rates and superannuation charges from the collective agreement ($1.680 million).  Increased staffing is also due to the transfer of the homelessness function to Housing from the DHCS ($0.439 million) and additional staff to implement the Nation Building and Jobs Plan Package ($0.465 million).
•	supplies and services:
•	the increase of $0.943 million in the 2008-09 estimated outcome from the original budget is due to the additional repairs and maintenance funded under the Nation Building and Jobs Plan stimulus package ($3.2 million), higher property costs associated with the deferral of implementing the shared equity scheme ($0.135 million), offset by savings in administrative expenditure ($2.242 million); and
•	the increase of $2.704 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the increase in property costs associated with the additional properties under the National Partnership Agreements, ($0.318 million), higher administrative costs associated with implementing the stimulus package ($0.1 million), higher costs from the transfer of the homelessness function from DHCS ($0.140 million), higher costs from the implementation of the upgrade to Homenet ($0.023 million) and higher overheads and indexation ($2.123 million).
•	depreciation and amortisation:
•	the decrease of $1.067 million in the 2008-09 estimated outcome from the original budget is due to the lower depreciation charges for properties as a result of the reduction in the capital values from the 2008 revaluation and the adjustment to the residual values ($1.018 million) and the lower amortisation of Homenet ($0.049 million); and
•	the decrease of $0.472 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the reduction in property values expected from the revaluation of properties in March 2009 ($0.722 million), partly offset by the higher depreciation from the additional properties delivered under the National Partnership Agreements, ($0.112 million) and amortisation of Homenet once it becomes operational ($0.138 million).
•	borrowing costs:  the decrease of $0.204 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the reduction in interest payments as loans decrease in line with the loan repayment schedules ($0.212 million), partly offset by higher finance lease charges ($0.008 million).
•	grants and purchased services:  the increase of $18.457 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the transfer of the homelessness function from the DHCS ($18.6 million), the additional Commonwealth funding under the Homelessness National Partnership Agreement ($0.926 million), partly offset by the one-off payment to CHC Affordable Housing in 2008-09 ($0.967 million) and reduction in indexation ($0.102 million).
•	other and transfer expenses:
•	the increase of $1.209 million in the 2008-09 estimated outcome from the original budget is due to higher bad and doubtful debts expense ($0.288 million) and higher costs for demolishing and writing off properties ($0.921 million); and
•	the decrease of $0.763 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the return of demolition and property write-off costs to more normal levels ($0.786 million), partly offset by an increase in transfer expenses from the transfer of the profits from the Narrabundah Long Stay Caravan Park to the Territory Banking Account ($0.023 million).
•	share of operating result from joint venture:  the increase of $2.343 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the receipt of profits from the sale of the units in the Lyons Estate Redevelopment Joint Venture.
Balance Sheet
•	cash and cash equivalents:
•	the increase of $3.431 million in the 2008-09 estimated outcome from the original budget is due to the need to hold higher reserves to fund the higher works in progress and the Nation Building and Jobs Plan stimulus package projects; and
•	the decrease of $17.488 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the outlays on capital acquisitions associated with the National Partnership Agreement projects and the Nation Building and Jobs Plan Package projects.
•	current receivables:  the increase of $1.038 million in the 2008-09 estimated outcome from the original budget is due to the higher charges for tenant responsible maintenance raised during the year and higher rental incomes.
•	assets held for sale:
•	the decrease of $2.554 million in the 2008-09 estimated outcome from the original budget is due to the sale of major sites during the year, partly offset by the identification of other sites to be included in the Nation Building and Jobs Plan Package; and
•	the decrease of $17.840 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the sale of the two major sites identified for sale during 2009-10.
•	non current assets:
•	the decrease of $102.951 million in the 2008-09 estimated outcome from the original budget is largely due to the write down of the property portfolio in March 2009, partly offset by the increased property numbers as a result of delay in implementing the shared equity scheme and higher work-in-progress.  The delay in implementing the shared equity scheme also resulted in the value of the retained equity continuing to be recognised in property, plant and equipment rather than in investments.  During the year, the receivable for $4.4 million in the joint venture was paid by the joint venture; and
•	the increase of $94.442 million in the 2009-10 Budget from the 2008-09 estimated outcome is due to the increase in property numbers from the completion of the works-in-progress, additional properties from the National Partnership Agreements including the Nation Building and Jobs Plan Package, and from the reduction in receivables in the joint venture and the increase in property values expected from the March 2010 revaluation.
•	total liabilities:
•	the increase of $1.106 million in the 2008-09 estimated outcome from the original budget is mainly due to a increase in payables, employee benefits and rent received in advance; and
•	the decrease of $4.803 million in the 2009-10 Budget from the 2008-09 estimated outcome is mainly due to the reduction in borrowings with the Commonwealth in accordance with the loan repayment schedule.
Statement of Changes in Equity
Variances in the statement are explained in the notes above.

Housing ACT
Statement of Income and Expenses on Behalf of the Territory
  2008-09 			  2008-09 	   2009-10 		  2010-11 	    2011-12 	  2012-13 		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		Income								
		Revenue								
19,646		Grants from the Commonwealth	9,806	0	-100	0	0	0		
19,646		Total Revenue	9,806	0	-100	0	0	0		
		Gains								
0		Total Gains	0	0	-	0	0	0		
19,646		Total Income	9,806	0	-100	0	0	0		
		Expenses								
19,646		Transfer Expenses	9,806	0	-100	0	0	0		
19,646		Total Ordinary Expenses	9,806	0	-100	0	0	0		
0		Operating Result	0	0	-	0	0	0		

Housing ACT
Budgeted Statement of Cash flows on Behalf of the Territory
  2008-09 			  2008-09 	   2009-10 		  2010-11 	    2011-12 	  2012-13 		
    Budget			Est.Outcome	   Budget	     Var	  Estimate	    Estimate	  Estimate		
    $'000			    $'000	   $'000	      %	    $'000	     $'000	   $'000		
		CASH FLOWS FROM OPERATING ACTIVITIES								
		Receipts								
19,646		Grants Received from the Commonwealth	9,806	0	-100	0	0	0		
19,646		Operating Receipts	9,806	0	-100	0	0	0		
		Payments								
19,646		Territory Receipts to Government	9,806	0	-100	0	0	0		
19,646		Operating Payments	9,806	0	-100	0	0	0		
0		NET CASH INFLOW/ (OUTFLOW) FROM OPERATING ACTIVITIES	0	0	-	0	0	0		
0		NET INCREASE/ (DECREASE) IN CASH HELD	0	0	-	0	0	0		
0		CASH AT THE END OF THE REPORTING PERIOD	0	0	-	0	0	0		
Notes to the Budget Statements
Significant variations are as follows:
Statement of Income and Expenses on Behalf of the Territory
•	grants from the Commonwealth:  the decrease of $9.840 million in the 2008-09 estimated outcome from original budget and the decrease of $9.806 million in the 2009-10 Budget from the 2008-09 estimated outcome are associated with the transfer of Commonwealth Grant funding to the Department of Treasury due to the Federal Financial Reforms.