2.4  In-year Budget Expenditure Variance

Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

 

 

 

FMS

The year-end budget variance is attributable to delays with milestone deliveries and technical issues with overseas suppliers ($6.7m) and favourable exchange rates ($6.2m).

(6.7)

Overseas Industry

 

Local Industry

 

Brought Forward

 

Cost Savings

(6.2)

FOREX Variation

 

Commonwealth Delays

130.8

117.9

(12.9)

Total Variance