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Statement of comprehensive income for the period ended 30 June 2018

 

Notes

2018
$’000

2017
$’000

2018 Budget
$’000

NET COST OF SERVICES

       

Expenses

       

Employee benefits

1.1a

26,013

26,119

25,572

Suppliers

1.1b

17,150

13,007

16,143

Depreciation and amortisation

3.2a

1,690

1,229

1,260

Finance costs

 

4

5

4

Write-down and impairment of assets

1.1c

-

254

-

Losses from asset sales

 

31

-

-

Total expenses

 

44,888

40,614

42,979

         

Own-source Income

       

Own-source revenue

       

Sale of goods and rendering of services

1.2a

20,877

20,765

19,002

Resources received free of charge

1.2b

40

43

44

Total own-source revenue

 

20,917

20,808

19,046

         

Gains

       

Sale of assets

 

-

4

-

Reversals of previous asset write-downs and impairments

 

1

-

-

Total gains

 

1

4

-

Total own-source income

 

20,918

20,812

19,046

         

Net cost of services

 

(23,970)

(19,802)

(23,933)

         

Revenue from Government

1.2c

22,811

20,334

22,811

         

Surplus/(Deficit)

 

(1,159)

532

(1,122)

         

OTHER COMPREHENSIVE INCOME

       

Items not subject to subsequent reclassification to net cost of services

       

Changes in asset revaluation reserve

3.2a, 3.4a

-

(1,136)

-

Total other comprehensive income

 

-

(1,136)

-

         

Total comprehensive income/(loss)

 

(1,159)

(604)

(1,122)

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

 

Budget variances commentary

The following table provides high level commentary of major variances for the APSC between budget information as published in the 2017-18 Portfolio Budget Statements to the 2017-18 final outcome as presented in accordance with Australian Accounting Standards.
 

Explanation of major variances

Affected line items

Sale of goods and services and Suppliers expense are higher than budget as the demand for learning and development activities is higher than the level planned when the budget was prepared.

Depreciation and amortisation is higher than budget due to the depreciation of major fit-out works that were approved after the budget was tabled.

Sale of goods and rendering of services $1,875,000 higher than budget and Suppliers $1,007,000 higher than budget

Depreciation and amortisation $430,000 higher than budget.

Last reviewed: 
18 October 2018