Statement of comprehensive income for the period ended 30 June 2017

	Notes	2017 $’000	2016 $’000	2017 Budget $’000
NET COST OF SERVICES
Expenses
Employee benefits	1.1a	26,119	27,334	26,189
Suppliers	1.1b	13,007	14,993	13,876
Depreciation and amortisation	3.2a	1,229	1,060	1,260
Finance costs		5	10	11
Write-down and impairment of assets	1.1c	254	-	-
Losses from asset sales		-	7	-
Total expenses		40,614	43,404	41,336
Own-source Income
Own-source revenue
Sale of goods and rendering of services	1.2a	20,765	21,850	19,830
Resources received free of charge	1.2b	43	42	43
Total own-source revenue		20,808	21,892	19,873
Gains
Sale of assets		4	-	-
Reversals of previous asset write-downs and impairments		-	5	-
Total gains		4	5	-
Total own-source income		20,812	21,897	19,873
Net cost of services		(19,802)	(21,507)	(21,463)
Revenue from Government	1.2c	20,334	20,638	20,341
Surplus/(Deficit)		532	(869)	(1,122)
OTHER COMPREHENSIVE INCOME
Items not subject to subsequent reclassification to net cost of services
Changes in asset revaluation surplus	3.2a, 3.4a	(1,136)	695	-
Total other comprehensive income		(1,136)	695	-
Total comprehensive income/(loss)		(604)	(174)	(1,122)

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

Budget variances commentary

Explanation of major variances	Affected line items
Supplier expenses are lower than budget due to a revision to the timing and amount of operating lease expenses.	Suppliers $869,000 lower than budget
Sale of goods and rendering of services is higher than budget as the budget planned for a larger reduction in revenue for learning and development activities than what actually occurred.	Sale of goods and rendering of services $935,000 higher than budget