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Statement of financial position

  Notes 2016
$'000
2015
$'000
2016 Budget
$'000
ASSETS
Financial assets
Cash and cash equivalents   1,075 1,382 450
Trade and other receivables 3.1a 24,831 27,409 23,139
Total financial assets   25,906 28,791 23,589
Non-financial assets
Building Leasehold Improvements 3.2a 1,949 1,764 1,429
Property, plant and equipment 3.2a 934 1,039 845
Intangibles 3.2a 1,069 976 1,428
Inventories   48 39 42
Prepayments paid 3.2b 565 463 522
Total non-financial assets   4,565 4,281 4,266
Total assets   30,471 33,072 27,855
LIABILITIES
Payables
Suppliers 3.3a 5,504 5,947 5,202
Prepayments received 3.3b 4,924 7,377 5,980
Lease incentives 3.3c 600 763 602
Other payables 3.3d 758 926 -
Total payables   11,786 15,013 11,784
Provisions
Employee provisions 5.1a 7,380 6,876 6,987
Provision for restoration obligations 3.4a 280 401 217
Total provisions   7,660 7,277 7,204
Total liabilities   19,446 22,290 18,988
Net assets   11,025 10,782 8,867
EQUITY
Contributed equity   1,208 791 1,208
Asset revaluation surplus   1,899 1,204 1,204
Retained surplus   7,918 8,787 6,455
Total equity   11,025 10,782 8,867

Budget Variances Commentary

Explanations of variances over $1,000,000 Affected line items
The balance for Trade and other receivables is higher due holding a higher level of appropriation receivable, arising from better than budget operating results and lower levels of capital expenditure. Trade and other receivables
$1,692,000 higher than budget
Prepayments received is lower than budget due to a reduction in advances received for international assistance activities.

Prepayments received
$1,056,000 lower than budget

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