| Notes | 2016 $'000 |
2015 '000 |
2016 Budget $'000 |
|
|---|---|---|---|---|
| NET COST OF SERVICES | ||||
| Expenses | ||||
| Employee benefits | 1.1a | 27,334 | 26,270 | 26,086 |
| Suppliers | 1.1b | 14,993 | 16,978 | 14,564 |
| Depreciation and amortisation | 3.2a | 1,060 | 1,088 | 1,396 |
| Finance costs | 10 | 11 | 9 | |
| Write-down and impairment of assets | - | 5 | - | |
| Losses from asset sales | 7 | 17 | - | |
| Total expenses | 43,404 | 44,369 | 42,055 | |
| Own-source Income | ||||
| Own-source revenue | ||||
| Sale of goods and rendering of services | 1.2a | 21,850 | 22,740 | 20,244 |
| Resources received free of charge | 1.2b | 42 | 42 | 42 |
| Total own-source revenue | 21,892 | 22,782 | 20,286 | |
| Gains | ||||
| Reversals of previous asset write-downs and impairments | 5 | - | - | |
| Total gains | 5 | - | - | |
| Total own-source income | 21,897 | 22,782 | 20,286 | |
| Net cost of services | (21,507) | (21,587) | (21,769) | |
| Revenue from Government | 1.2c | 20,638 | 21,637 | 20,647 |
| Surplus/(Deficit) | (869) | 50 | (1,122) | |
| OTHER COMPREHENSIVE INCOME | ||||
| Items not subject to subsequent reclassification to net cost of services | ||||
| Changes in asset revaluation surplus | 6.2 | 695 | - | - |
| Total other comprehensive income | 695 | - | - | |
| Total comprehensive income/(loss) | (174) | 50 | (1,122) | |
Budget variances commentary
| Explanation of variances over $1,000,000 | Affected line items |
| Employee expenses are higher than budget due to higher restructuring costs incurred during the year. | Employee benefits $1,248,000 higher than budget |
| Sale of goods and rendering of services is higher than budget as the budget planned for a larger reduction in revenue than what actually occurred. | Sale of goods and rendering of services $1,606,000 higher than budget |
The above statement should be read in conjunction with the accompanying notes.
