The following tables provide a comparison of the original budget as presented in the 2014-15 Portfolio
Budget Statements (PBS) to the 2014-15 final outcome as presented in accordance with Australian Accounting Standards for the APSC. The Budget is not audited.
Note 18a: Departmental Budgetary Reports
Actual 2015 $'000 |
Budget Estimate | ||
---|---|---|---|
Original1 2015 $'000 |
Variance2 2015 $'000 |
||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
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NET COST OF SERVICES | |||
Expenses | |||
Employee benefits | 26,270 | 27,519 | (1,249) |
Suppliers | 16,978 | 15,772 | 1,206 |
Depreciation and amortisation | 1,088 | 1,396 | (308) |
Finance costs | 11 | 20 | (9) |
Write-down and impairment of assets | 5 | - | 5 |
Losses from asset sales | 17 | - | 17 |
Total expenses | 44,369 | 44,707 | (338) |
Own-Source Income | |||
Own-source revenue | |||
Sale of goods and rendering of services | 22,740 | 21,894 | 846 |
Resources received free of charge | 42 | 41 | 1 |
Total own-source revenue | 22,782 | 21,935 | 847 |
Total own-source income | 22,782 | 21,935 | 847 |
Net cost of services | (21,587) | (22,772) | 1,185 |
Revenue from Government | 21,637 | 21,650 | (13) |
Surplus/(Deficit) | 50 | (1,122) | 1,172 |
Total comprehensive income/(loss) | 50 | (1,122) | 1,172 |
Actual 2015 $'000 |
Budget Estimate | ||
---|---|---|---|
Original1 2015 $'000 |
Variance2 2015 $'000 |
||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
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ASSETS | |||
Financial assets | |||
Cash and cash equivalents | 1,382 | 450 | 932 |
Trade and other receivables | 27,409 | 26,802 | 607 |
Total financial assets | 28,791 | 27,252 | 1,539 |
Non-financial assets | |||
Land and buildings | 1,764 | 1,924 | (160) |
Property, plant and equipment | 1,039 | 993 | 46 |
Intangibles | 976 | 1,418 | (442) |
Inventories | 39 | 55 | (16) |
Prepayments paid | 463 | 992 | (529) |
Total non-financial assets | 4,281 | 5,382 | (1,101) |
Total assets | 33,072 | 32,634 | 438 |
LIABILITIES | |||
Payables | |||
Suppliers | 5,947 | 7,447 | (1,500) |
Prepayments received | 7,377 | 7,436 | (59) |
Lease incentives | 763 | 768 | (5) |
Other payables | 926 | - | 926 |
Total payables | 15,013 | 15,651 | (638) |
Provisions | |||
Employee provisions | 6,876 | 7,131 | (255) |
Provision for restoration obligations | 401 | 411 | (10) |
Total provisions | 7,277 | 7,542 | (265) |
Total liabilities | 22,290 | 23,193 | (903) |
Net assets | 10,782 | 9,441 | 1,341 |
EQUITY | |||
Contributed equity | 791 | 791 | - |
Asset revaluation surplus | 1,204 | 1,323 | (119) |
Retained surplus | 8,787 | 7,327 | 1,460 |
Total equity | 10,782 | 9,441 | 1,341 |
Retained earnings | Asset revaluation surplus | Contributed equity/capital | Total equity | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Actual 2015 $'000 |
Budget Estimate | Actual 2015 $'000 |
Budget Estimate | Actual 2015 $'000 |
Budget Estimate | Actual 2015 $'000 |
Budget Estimate | |||||
Original1 2015 $'000 |
Variance22015 $'000 | Original1 2015 $'000 |
Variance2 2015 $'000 |
Original1 2015 $'000 |
Variance22015 $'000 | Original1 2015 $'000 |
Variance2 2015 $'000 |
|||||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
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Opening balance | 8,737 | 8,449 | 288 | 1,204 | 1,323 | (119) | 369 | 369 | - | 10,310 | 10,141 | 169 |
Comprehensive income | ||||||||||||
Surplus/(Deficit) for the period | 50 | (1,122) | 1,172 | - | - | - | - | - | - | 50 | (1,122) | 1,172 |
Total comprehensive income | 50 | (1,122) | 1,172 | - | - | - | - | - | - | 50 | (1,122) | 1,172 |
Transactions with owners | ||||||||||||
Contributions by owners | ||||||||||||
Departmental capital budget | - | - | - | - | - | - | 422 | 422 | - | 422 | 422 | - |
Total transactions with owners | - | - | - | - | - | - | 422 | 422 | - | 422 | 422 | - |
Closing balance as at 30 June | 8,787 | 7,327 | 1,460 | 1,204 | 1,323 | (119) | 791 | 791 | - | 10,782 | 9,441 | 1,341 |
Actual 2015 $'000 |
Budget Estimate | ||
---|---|---|---|
Original12015 $'000 |
Variance2 2015 $'000 |
||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
|||
Operating Activities | |||
Cash received | |||
Appropriations | 21,324 | 21,650 | (326) |
Sale of goods and rendering of services | 25,378 | 21,894 | 3,484 |
Net GST received | 1,297 | 2,252 | (955) |
Other cash received | 512 | - | 512 |
Total cash received | 48,511 | 45,796 | 2,715 |
Cash used | |||
Employees | 27,327 | 27,519 | (192) |
Suppliers | 16,290 | 17,635 | (1,345) |
Section 74 receipts transferred to OPA | 3,350 | - | 3,350 |
Other cash used | 650 | - | 650 |
Total cash used | 47,617 | 45,154 | 2,463 |
Net cash from operating activities | 894 | 642 | 252 |
Investing Activities | |||
Cash used | |||
Purchase of property, plant and equipment | 187 | 242 | (55) |
Purchase of intangibles | 237 | 822 | (585) |
Total cash used | 424 | 1,064 | (640) |
Net cash used by investing activities | (424) | (1,064) | 640 |
Financing Activities | |||
Cash received | |||
Contributed equity | 422 | 422 | - |
Total cash received | 422 | 422 | - |
Net cash from financing activities | 422 | 422 | - |
Net decrease in cash held | 892 | - | 892 |
Cash and cash equivalents at the beginning of the reporting period | 490 | 450 | 40 |
Cash and cash equivalents at the end of the reporting period | 1,382 | 450 | 932 |
Explanations of major variances | Affected line items (and statement) |
---|---|
Employee expenses are lower than budget due to lower staffing levels throughout the year, primarily as a result of the government interim recruitment arrangements.
Supplier expenses are higher than budget, which is in line with the higher own-source income, where additional resources are required to deliver higher than expected levels of services in a number of business areas, including development and training, panel services and international assistance. The total expenses is on budget. The operating surplus variance is mainly due to lower than budget staffing expenses. This variance is within 3% of the total expenses budget. |
Statement of Comprehensive Income:
- Employee benefits$1,249,000 lower than budget - Suppliers$1,206,000 higher than budget - Surplus/(Deficit)$1,172,000higher than budget |
The balances for both 'Cash' and 'Other payables' are higher than budget due to the first fortnightly pay day for 2015-16 occurring on 1 July. Nine days of payroll is reported as 'Other payables'($867,000), and the equivalent fund was drawn down in advance to the payroll bank account.
'Prepayments paid' is lower than budget as the timing of the Comcare premium payment (about $400,000) has now been changed from June to July. The 'Supplier payables' balance is lower than budget as the accrual for nine days of payroll ($867,000) is reported separately as 'Other payables', but was originally budgeted under 'Supplier payables'. |
Statement of Financial Position:
- Cash $932,000 higher than budget - Other payables$926,000 higher than budget - Prepayments paid$529,000 lower than budget - Suppliers (payables) $1,500,000 lower than budget |
Receipts from customers are higher than budget due to higher levels of 'Sale of goods and rendering of services' revenue ($846,000), combined with a decrease in 'Trade and other receivables' ($2,848,000).
Payments to suppliers are lower than budget due to an increase in 'Suppliers payables' ($1,500,000) and lower than planned payments of GST. The level of section 74 receipts transferred to the OPA varies according to the cash levels at the time of receipt. The purchase of intangibles is lower than budget due to a lower level of capital investment, partially as a result of the transition to the Shared Service Centre where there is less requirement to invest in systems. |
Cash Flow Statement:
- Sale of goods and rendering of services$3,484,000 higher than budget - Suppliers$1,345,000 lower than budget - Section 74 receipts transferred to OPA$3,350,000 higher than budget - Purchase of intangibles$585,000 lower than budget |
Actual 2015 $'000 |
Budget Estimate | ||
---|---|---|---|
Original1 2015 $'000 |
Variance2 2015 $'000 |
||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
|||
NET COST OF SERVICES | |||
Expenses | |||
Employee benefits | 61,338 | 61,963 | (625) |
Total expenses | 61,338 | 61,963 | (625) |
Income | |||
Gains | |||
Other gains | 2 | - | 2 |
Total gains | 2 | - | 2 |
Total income | 2 | - | 2 |
Net cost of services | (61,336) | (61,963) | 627 |
Total comprehensive loss | (61,336) | (61,963) | 627 |
Actual 2015 $'000 |
Budget Estimate |
||
---|---|---|---|
Original1 2015 $'000 | Variance2 2015 $'000 | ||
1. The original budgeted financial statement that was first presented to parliament in respect of the reporting period (i.e. from the 2014-15 PBS). 2. Between the actual and original budgeted amounts for 2015. Explanations of major variances are provided further below. |
|||
Operating Activities | |||
Cash received | |||
Other | 2 | - | 2 |
Total cash received | 2 | - | 2 |
Cash used | |||
Employees | 61,338 | 61,963 | (625) |
Total cash used | 61,338 | 61,963 | (625) |
Net cash used by operating activities | (61,336) | (61,963) | 627 |
Net decrease in cash held |
(61,336) | (61,963) | 627 |
Cash and cash equivalents at the beginning of the reporting period | - | - | - |
Cash from Official Public Account Appropriations |
61,338 | 61,963 | (625) |
Total cash from official public account | 61,338 | 61,963 | (625) |
Cash to Official Public Account Appropriations |
2 | - | 2 |
Total cash to official public account | (2) | - | (2) |
Cash and cash equivalents at the end of the reporting period | - | - | - |
Explanations of major variances | Affected line items (and statement) |
---|---|
Employee expenses were within 1% of the original budget. | Statement of Comprehensive Income: - Employee benefits $625,000 lower than budget |
Payments to employees were within 1% of the original budget. | Cash Flow Statement: - Employees $625,000 lower than budget |