Go to top of page

Statement of financial position as at 30 June 2018

 

Notes

2018
$’000

2017
$’000

2018
Budget
$’000

ASSETS

       

Financial assets

       

Cash and cash equivalents

 

571

894

750

Trade and other receivables

3.1a

17,460

21,975

23,361

Total financial assets

 

18,031

22,869

24,111

         

Non-financial assets

       

Building leasehold Improvements

3.2a

5,758

823

1,292

Plant and equipment

3.2a

1,526

465

631

Intangibles

3.2a

1,696

1,218

1,996

Inventories

 

-

46

48

Prepayments paid

3.2b

561

560

565

Total non-financial assets

 

9,541

3,112

4,532

Total assets

 

27,572

25,981

28,643

LIABILITIES

       

Payables

       

Suppliers

3.3a

3,376

2,631

6,089

Prepayments received

3.3b

5,795

4,586

4,924

Other payables

3.3c

787

396

339

Total payables

 

9,958

7,613

11,352

         

Provisions

       

Employee provisions

5.1a

7,164

7,095

7,380

Provision for restoration obligations

3.4a

245

285

149

Total provisions

 

7,409

7,380

7,529

Total liabilities

 

17,367

14,993

18,881

Net assets

 

10,205

10,988

9,762

         

EQUITY

       

Contributed equity

 

2,151

1,775

2,189

Asset revaluation reserve

 

763

763

1,899

Retained surplus

 

7,291

8,450

5,674

Total equity

 

10,205

10,988

9,762

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

Budget Variances Commentary

Explanations of major variances Affected line items
The balance for Trade and other receivables are lower than budget due to funding major office fit-out works from retained appropriation reserves.

Trade and other receivables
$5,901,000 lower than budget

Building leasehold improvements and Plant and equipment are higher than budget due to major fit-out works that were approved after the budget was tabled.

Building leasehold improvements
$4,466,000 higher than budget and Plant and equipment $895,000 higher than budget

Suppliers payable are lower than budget due to a reduction in operating lease rental payable arising from transferring a lease for office accommodation to the Department of Social Services and earlier invoicing than planned from some suppliers.

Suppliers payable
$2,713,000 lower than budget

The balance of prepayments received varies in line with the timing of when invoices are issued to customers and when services are performed.

Prepayments received
$871,000 higher than budget

 

Last reviewed: 
18 October 2018