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Cash flow statement

  Notes 2016
$'000
2015
$'000
2016 Budget
$'000
Operating Activities
Cash received
Appropriations   23,683 21,324 20,647
Sale of goods and rendering of services   20,347 25,378 20,244
Net GST received   1,261 1,297 2,459
Other cash received   1,067 512 -
Total cash received   46,358 48,511 43,350
Cash used
Employees   27,915 27,327 26,086
Suppliers   17,022 16,290 16,406
Section 74 receipts transferred to OPA   1,000 3,350 -
Other cash used   482 650 -
Total cash used   46,419 47,617 42,492
Net cash from / (used by) operating activities 4.3 (61) 894 858
Investing Activities
Cash used
Purchase of property, plant and equipment   249 187 255
Purchase of intangibles   414 237 827
Other cash used   - - 193
Total cash used   663 424 1,275
Net cash used by investing activities   (663) (424) (1,275)
Financing Activities
Cash received
Contributed equity   417 422 417
Total cash received   417 422 417
Net cash from financing activities   417 422 417
Net increase/(decrease) in cash held   (307) 892 -
Cash and cash equivalents at the beginning of the reporting period   1,382 490 450
Cash and cash equivalents at the end of the reporting period   1,075 1,382 450

Budget Variances Commentary

Explanation of variances over $1,000,000 Affected line items
Appropriation receipts are higher than budget due to 27 pays occurring during the year, with a higher level of appropriations being drawn down, and the transfer and then redraw of section 74 receipts during the year due to fluctuating cash levels. Appropriations
$3,036,000 higher than budget
Payments to employees are higher than budget due to 27 pays occurring during the year and restructuring costs incurred during the year. Employees
$1,829,000 higher than budget
The level of section 74 receipts transferred to the OPA varies according to the cash levels at the time of receipt. Section 74 receipts transferred to OPA
$1,000,000 higher than budget

The above statement should be read in conjunction with the accompanying notes.