2.3 In-year Budget Expenditure Variance

Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

 

 

 

FMS

Overseas variance is due to reduced Joint Project Office (JPO) operating costs. Local industry variance is due to less than planned work levels by ASC Pty Ltd. Forex variation due to stronger Australian dollar.

(0.7)

Overseas Industry

 

(0.6)

Local Industry

 

 

Brought Forward

 

 

Cost Savings

 

(0.1)

FOREX Variation

 

 

Commonwealth Delays

 

19.2

17.8

(1.4)

Total Variance