Note 3 Financial Performance
|
Note 3A: Employee Benefits |
2019 |
2018 |
|---|---|---|
|
$ |
$ |
|
|
Wages and salaries |
8,155,487 |
8,433,719 |
|
Superannuation - defined contribution plans |
795,330 |
826,427 |
|
Leave and other entitlements |
507,660 |
671,775 |
|
Separation and redundancies |
144,318 |
79,805 |
|
Other employee benefits |
- |
75 |
|
Total employee benefits |
9,602,795 |
10,011,800 |
Accounting Policy
Superannuation
The staff of the Army and Air Force Canteen Service are members of self-selected superannuation funds.
The Army and Air Force Canteen Service makes employer contributions to the employees’ superannuation schemes at rates determined by legislation. The Army and Air Force Canteen Service accounts for the contributions as if they were contributions to defined contribution plans.
The liability for superannuation recognised as at 30 June represents outstanding contributions for the final month of the year. Refer to Note 7B.
|
Note 3B: Suppliers |
2019 |
2018 |
|---|---|---|
|
$ |
$ |
|
|
Goods and services supplied or rendered |
||
|
Cost of goods sold |
17,002,540 |
18,619,792 |
|
Total goods and services supplied or rendered |
17,002,540 |
18,619,792 |
|
Other suppliers |
||
|
Operating lease rentals in connection with |
||
|
External parties |
||
|
Minimum lease payments |
102,654 |
112,934 |
|
Workers compensation expenses |
153,497 |
481,061 |
|
Total other suppliers |
256,151 |
593,994 |
|
Total suppliers |
17,258,692 |
19,213,786 |
Accounting Policy
Leases
A distinction is made between finance leases and operating leases. Finance leases effectively transfer from the lessor to the lessee substantially all the risk and rewards incidental to ownership of leased assets. An operating lease is a lease that is not a finance lease. In operating leases, the lessor effectively retains substantially all such risks and benefits.
The Army and Air Force Canteen Service only had operating leases in the 2018 financial year and its comparative year. Operating lease payments are expensed on a straight-line basis which is representative of the pattern of benefits derived from the leased assets.
|
Commitments for minimum lease payments in relation to |
2019 |
2018 |
|---|---|---|
|
non-cancellable operating leases are payable as follows: |
$ |
$ |
|
Within 1 year |
111,345 |
132,040 |
|
Between 1 to 5 years |
100,790 |
198,472 |
|
More than 5 years |
- |
- |
|
Total operating lease commitments |
212,135 |
330,512 |
|
Note 3C: Licenced Facilities on Base |
2109 |
2018 |
|---|---|---|
|
$ |
$ |
|
|
Licenced facilities on base |
587,552 |
558,314 |
|
Total licenced facilities on base |
587,552 |
558,314 |
|
Licensed facilities on base was the cost of the rent and utilities that were used by licenced traders on base. The AAFCANS headquarters on base was estimated on the cost of renting a similar space in the area. These facilities were provided free of charge by the Department of Defence. The revenue in relation to the provision of these facilities is disclosed in Note 4B. |
||
|
Note 3D: Other Expenses |
2019 |
2018 |
|---|---|---|
|
$ |
$ |
|
|
Computer support and expenses |
537,264 |
306,592 |
|
Bank fees |
326,919 |
289,832 |
|
Selling, stationery, postage and courier |
194,967 |
199,496 |
|
Vehicle running costs |
193,919 |
167,776 |
|
Sundry expense |
161,794 |
159,708 |
|
Travel |
156,009 |
188,054 |
|
Recruitment fees and agency staff |
111,485 |
73,937 |
|
Support office facilities |
93,400 |
121,593 |
|
Insurance |
64,152 |
56,252 |
|
Professional services |
44,775 |
189,814 |
|
External Audit fees |
38,000 |
38,000 |
|
Telephone and internet communications |
36,755 |
68,242 |
|
Legal Fees |
16,229 |
4,619 |
|
Fringe benefits tax |
472 |
33,588 |
|
Defence amenities expenses |
- |
(91) |
|
Internal Audit Fees |
- |
- |
|
Total other expenses |
1,976,142 |
1,897,413 |
Visit
https://www.transparency.gov.au/annual-reports/army-and-air-force-canteen-service/reporting-year/2018-2019-41