Variance

Variance Factor

Explanation

(1.0)

Cost saving

Price savings on the C-17 aircraft and other FMS sourced C-17 equipment, resulting in the FMS Trust Account balance being in advance of US Government expenditure activity, hence no additional FMS payments were required this Financial Year. Underspend against non-prime contract activities also contribute to this year-end variance.

(5.7)

FMS

(3.0)

Commonwealth delays

(0.4)

FOREX variation

(10.1)

Total Variance