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Statement of Comprehensive Income

Statement of Comprehensive Income

for the period ended 30 June 2021

2021

2020

Original Budget

Notes

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

124,807

124,820

108,511

1

Suppliers

1.1B

38,161

37,788

31,501

2

Depreciation and amortisation

3.2A

29,798

29,275

25,560

3

Finance costs

1.1C

4,510

4,584

4,446

Impairment on intangible assets

30

-

-

Losses from asset sales

5

80

-

Total expenses

197,311

196,547

170,018

Own-source income

Own-source revenue

Revenue from contracts with customers

1.2A

888

781

600

Total own-source revenue

888

781

600

Gains

Other revenue

1.2B

502

986

600

Total gains

502

986

600

Total own-source income

1,390

1,767

1,200

Net cost of services

(195,921)

(194,780)

(168,818)

Revenue from Government

1.2C

168,401

181,150

155,232

Deficit on continuing operations

(27,520)

(13,630)

(13,586)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation reserve

309

-

-

Total other comprehensive income

309

-

-

Total comprehensive (loss)

(27,211)

(13,630)

(13,586)

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

Budget Variances Commentary

Variances are considered to be 'major' based on the following criteria:

  • variance between budget and actual is greater than 10% at item level; and
  • variance is greater than 2% of the relevant categories. In the case of the Statement of Comprehensive Income, they are total expenses or total revenue.

1. Employee Benefits

The actual employee expense is higher than budget due to the budget reflecting the base activity level for the AAT. The actual expense recorded reflects resourcing required to finalise a higher level of cases as well as an Enterprise Agreement wage increase, increased superannuation, leave and other entitlements. The activity driven employee expense impact was adjusted during the year at Portfolio Additional Estimates Statements (PAES).

2. Suppliers

The variance against supplier expenses was due to increased contractor, communication and software licences costs to support new working arrangements in response to the COVID-19 pandemic.

3. Depreciation and Amortisation

The variance against depreciation and amortisation was due to increased devices, software and other capital assets to support new working arrangements in response to the COVID-19 pandemic.