Cash flow statement for the period ended 30 June 2018
| Notes | 2018 $’000 | 2017 $’000 | 2018 Budget $’000 | |
|---|---|---|---|---|
| Operating Activities | ||||
| Cash received | ||||
| Appropriations | 28,786 | 22,942 | 22,811 | |
| Sale of goods and rendering of services | 22,011 | 20,880 | 19,002 | |
| GST received | 1,976 | 1,235 | 1,713 | |
| Other cash received | 1,025 | 869 | 627 | |
| Total cash received | 53,798 | 45,926 | 44,153 | |
| Cash used | ||||
| Employees | 26,518 | 27,481 | 25,572 | |
| Suppliers | 18,439 | 18,139 | 17,967 | |
| Section 74 receipts transferred to OPA | 1,000 | - | - | |
| Other cash used | 320 | 119 | - | |
| Total cash used | 46,277 | 45,739 | 43,539 | |
| Net cash from operating activities | 7,521 | 187 | 614 | |
| Investing Activities | ||||
| Cash received | ||||
| Proceeds from sales of property, plant and equipment | - | 5 | - | |
| Total cash received | - | 5 | - | |
| Cash used | ||||
| Purchase of property, plant and equipment | 7,409 | 260 | 372 | |
| Purchase of intangibles | 849 | 680 | 517 | |
| Other cash used | - | - | 139 | |
| Total cash used | 8,258 | 940 | 1,028 | |
| Net cash used by investing activities | (8,258) | (935) | (1,028) | |
| FINANCING Activities | ||||
| Cash received | ||||
| Contributed equity | 414 | 567 | 414 | |
| Total cash received | 414 | 567 | 414 | |
| Net cash from financing activities | 414 | 567 | 414 | |
| Net increase/(decrease) in cash held | (323) | (181) | - | |
| Cash and cash equivalents at the beginning of the reporting period | 894 | 1,075 | 750 | |
| Cash and cash equivalents at the end of the reporting period | 571 | 894 | 750 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary
| Explanation of major variances | Affected line items |
|---|---|
| Appropriation receipts are higher than budget due to a higher level of supplier payments during the year, mainly due to office fit-out works. | Appropriations $5,975,000 higher than budget |
| Sale of goods and rendering of services is higher than budget as the level of learning and development activities is higher than budget, combined with higher customer prepayments. | Sale of goods and rendering of services $3,009,000 higher than budget |
| Purchase of property, plant and equipment is higher than budget due to major fit-out works which were approved after the publishing of the 2018 budget. | Purchase of property, plant and equipment $7,037,000 higher than budget |