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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	1.2 a	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	1.2 c	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.

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