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Cash Flow Statement

Cash Flow Statement for the period ended 30 June 2020

2020

2019

Original Budget

Notes

$’000

$’000

$’000

OPERATING ACTIVITIES

Cash received

Appropriations

3,550

3,575

3,313

Sale of goods and rendering of services

190

245

225

Net GST received

105

168

-

Other

44

92

-

Total cash received

3,890

4,080

3,538

Cash used

Employees

1,834

1,527

1,648

Suppliers

1,581

2,546

1,890

Borrowing costs

3

-

-

Total cash used

3,418

4,072

3,538

Net cash from/(used by) operating activities

472

8

-

INVESTING ACTIVITIES

Cash used

Purchase of property, plant and equipment

151

19

59

Total cash used

151

19

59

Net cash from/(used by) investing activities

(151)

(19)

(59)

FINANCING ACTIVITIES

Cash received

Contributed Equity

59

32

59

Total cash received

59

32

59

Cash used

Principal payments of lease liabilities

270

-

-

Total cash used

270

-

-

Net cash from/(used by) financing activities

(211)

32

59

Net increase/(decrease) in cash held

109

21

-

Cash and cash equivalents at the beginning of the reporting period

85

64

64

Cash and cash equivalents at the end of the reporting period

195

85

64

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

Budget Variances Commentary

Cash Flow Statement for not-for-profit Reporting Entities

1. Operating activities - Cash received: "Appropriations and Cash and cash equivalents" at the beginning of the reporting period variations relate to the PBS budget position being prepared prior to 2018-19 actual results being known. Anticipated receipts for the conference were not realised. "GST" and "Other" were not included in budget estimation. The increase in appropriations used resulted from actual cash drawn down of funds to pay suppliers accrued from previous year.

2. Operating activities - Cash used: "Employees" and "Suppliers" main variance reflects the impact of engaging non-ongoing APS staff rather than contractors.

3. Investing activities - Cash used: "Purchase of property plant and equipment" variance due to the redeveloped web site and laptop purchases.

4. Financing Activities - Cash received: "Contributed Equity" - ASEA only draws down capital funds for actual purchases. Refer cash used - Purchase of property plant and equipment comment above.

5. Financing Activities - Cash used: "Principal payment of lease liabilities" is a result of the application of AASB16

6. Net increase/(decrease) in cash held - variance relates to impact of over anticipation of liquidity needs as mention in the balance sheet commentary.