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Statement of Comprehensive Income

Statement of Comprehensive Income for the period ended 30 June 2020

2020

2019

Original Budget

Notes

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee Benefits

1.1A

1,892

1,447

1,648

Suppliers

1.1B

1,387

2,119

1,963

Depreciation and amortisation

2.2A

322

42

59

Finance Costs

3

-

-

Impairment Loss Allowance on Financial Instruments

3

-

-

Total expenses

3,606

3,608

3,670

Own-Source Income

Own-source revenue

Revenue from contracts with customers

1.2A

173

226

225

Other Revenue

1.2B

60

80

73

Total own-source revenue

233

306

298

Total own-source income

233

306

298

Net (cost of)/contribution by services

(3,373)

(3,302)

(3,372)

Revenue from Government

1.2C

3,313

3,318

3,313

Surplus/(Deficit) on continuing operations

(60)

16

(59)

Total Comprehensive income/(loss)

(60)

16

(59)

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

Budget Variances Commentary

Statement of Comprehensive Income for not-for-profit Reporting Entities

Variances are considered to be 'major' when the difference is greater than 10% or more than $50,000 or a lesser amount if pertinent to the understanding of the financial statements.

1. Employee benefits - the variance reflects the use of non-ongoing APS staff as opposed to contractors.

2. Suppliers - the variance is a result of comment 1. combined with the adoption of AASB 16 which moved accommodation costs to depreciation.

3. Depreciation - the variance is explained in comment 2.

4. Revenue from contracts with customers - ASEA received less registrations and sponsorship than anticipated for the conference due to the event being held in Western Australia.