Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

9.3

FMS

Expenditure is $79.3m against latest plan $64.4m. Variance of $14.9m is primarily due to accelerated FMS payments for the Lightweight Towed Howitzers of $9.3m, radio payments of $9.7m brought forward from FY11/12, rescheduling of vehicle integration activities to FY11/12 ($3.0m), and foreign exchange gains ($1.1m).

Overseas Industry

Local Industry

9.7

Brought Forward

Cost Savings

(1.1)

FOREX Variation

(3.0)

Commonwealth Delays

64.4

79.3

14.9

Total Variance