Annual Report 2018-19
Published 17 October 2019Statements
Comprehensive operating statement
For the year ended 30 June 2019
| 2019 | 2018 | |
| Notes | $ | $ |
Income from transactions | |||
| Grants | 2 | 24,972,374 | 24,056,688 |
| Resources received free of charge | 377,165 | 259,581 | |
| Total income from transactions | 25,349,539 | 24,316,269 | |
Expenses from transactions | |||
| Employee expenses | 3.1.1 | 14,722,716 | 15,323,564 |
| Depreciation and amortisation | 5.1.1 | 35,374 | 187,836 |
| Finance lease interest | 439 | 2,421 | |
| Capital asset charge | 84,067 | 2,053 | |
| Supplies and services | 3.2 | 8,711,830 | 8,513,930 |
Total expenses from transactions | 23,554,426 | 24,029,804 | |
Net result from transactions | 1,795,113 | 286,465 | |
Other economic flows included in net result | |||
| Net gain/(loss) on disposal of non-financial assets | 9.1 | (2,104) | - |
| Net gain/(loss) from revaluation of leave liabilities | 9.1 | (132,714) | 3,539 |
Total other economic flows included in net result | (134,818) | 3,539 | |
Net result | 1,660,295 | 290,004 | |
Comprehensive result | 1,660,295 | 290,004 | |
The above comprehensive operating statement should be read in conjunction with the accompanying notes.
Balance sheet – As at 30 June 2019
2019 | 2018 | ||
Notes | $ | $ | |
Assets | |||
| Financial assets | |||
| Receivables | 6.1 | 18,484,210 | 16,868,993 |
| Total financial assets | 18,484,210 | 16,868,993 | |
Non-financial assets | |||
| Non-Current Assets held for sale | 27,082 | - | |
| Prepayments | 449,882 | 527,411 | |
| Property, plant and equipment | 5.1 | 250,388 | 150,333 |
| Total non-financial assets | 727,352 | 677,744 | |
Total assets | 19,211,562 | 17,546,737 | |
Liabilities | |||
| Payables | 6.2 | 1,864,051 | 1,440,255 |
| Employee related provisions | 3.1.2 | 3,367,217 | 3,770,767 |
| Make Good provisions | 6.3 | 106,470 | 106,470 |
| Finance lease liabilities | 42,995 | 58,711 | |
Total liabilities | 5,380,733 | 5,376,203 | |
Net assets | 13,830,829 | 12,170,534 | |
Equity | |||
| Contributed capital | 873,921 | 873,921 | |
| Accumulated surplus(a) | 12,956,908 | 11,296,613 | |
| Total equity | 13,830,829 | 12,170,534 | |
| (a) The accumulated surplus can only be accessed upon approval of the Treasurer. | |||
The above balance sheet should be read in conjunction with the accompanying notes.
Cash flow statement – For the year ended 30 June 2019
2019 | 2018 | ||
Notes | $ | $ | |
Cash flows from operating activities | |||
| Receipts from Government | 24,096,364 | 23,835,168 | |
| Receipts from other entities | 36,260 | - | |
| Payments to suppliers and employees | (23,867,789) | (23,797,129) | |
| Capital asset charge paid | (84,067) | (2,053) | |
| Interest paid | (439) | (2,421) | |
Net cash flows from operating activities | 7.1 | 180,329 | 33,565 |
Cash flows from investing activities | |||
| Payments for property, plant and equipment | (164,559) | (13,059) | |
| Proceeds from sale of property, plant and equipment | 29,545 | - | |
Net cash flows from/(used in) investing activities | (135,014) | (13,059) | |
Cash flows from financing activities | |||
| Repayment of finance leases | (45,316) | (20,506) | |
Net cash flows (used in) financing activities | (45,316) | (20,506) | |
Net decrease in cash and cash equivalents | - | - | |
| Cash and cash equivalents at the start of the year | - | - | |
Cash and cash equivalents at the end of the year | - | - | |
The above cash flow statement should be read in conjunction with the accompanying notes.
Statement of changes in equity – For the year ended 30 June 2019
Contributed capital | Accumulated surplus | Total | |
| $ | $ | $ | |
| Balance at 1 July 2017 | 873,921 | 11,006,609 | 11,880,530 |
| Net result for the year | 290,004 | 290,004 | |
| Balance at 30 June 2018 | 873,921 | 11,296,613 | 12,170,534 |
| Net result for the year | 1,660,295 | 1,660,295 | |
Balance at 30 June 2019 | 873,921 | 12,956,908 | 13,830,829 |
The above statement of changes in equity should be read in conjunction with the accompanying notes.