2.4 In-year Budget Expenditure Variance

Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

4.1

FMS

FMS overspend relates to higher than expected in-year case activity for Centre Barrel parts. Milestones on the SRP2 program achieved the best case bringing forward spend into 2009-10. Commonwealth delays relate to rebaselining of the production aircraft schedule, reduced SRP2 shipping costs and reduced in-year spend on contract closure activities.

Overseas Industry

Local Industry

0.7

Brought Forward

Cost Savings

1.0

FOREX Variation

(5.4)

Commonwealth Delays

55.9

56.3

0.4

Total Variance