Statement of comprehensive income

for the period ended 30 June 2019

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

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

Depreciation and amortisation

The increase in Depreciation largely reflects the purchase of laptops as part of a refresh program, as well as the full year effect of the agency's project management system which went live part-way through 2017-18.

Sale of goods and rendering of services

Revenue from rendering services is primarily associated with management fees from agreements with the Department of Foreign Affairs and Trade for the management of Research Programs. The agreements provide for ACIAR to draw on the management fee (up to a capped limit) with the variance to budget consistent with the increase in overall costs.

Gains from sale of asset & changes in asset revaluation surplus

A motor vehicle was sold during the year which was not anticipated during budget development.

Statement of financial position

as at 30 June 2019

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

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

Cash and cash equivalents

This reflects the cash balance of day to day operations with funds being drawn to meet payments as required, and changes from time to time in the normal course of business.

Trade and other receivables

This reflects the impact of laptop and Storage Area Network purchases as part of the IT refresh program, as well as an amount of $0.131 million for an equity injection in 2015-16 for fit-out works at the Bangkok and Indonesian offices which expired on 1 July 2018.

Plant and equipment

This reflects the impact of depreciation, offset by IT related expenditure on the laptop and end-of-life Storage Area Network refresh program.

Intangibles

This reflects the full year amortisation effect of the agency's project management system which went live part-way through 2017-18.

Suppliers and other payables

ACIAR recognises payables and accrued expenditure at the end of the year for work performed but not yet paid (including salaries), this amount changes from time to time in the normal course of business.

Employee provision

A number of long serving staff retired during the year which reduced provision balances for leave below those anticipated during budget development.

Statement of changes in equity

for the period ended 30 June 2019

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

Accounting policy

Equity injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

In addition to the flow-on impact of items referred to in the Statement of Comprehensive Income and the Statement of Financial Position a revaluation write-back of $48,764 was recognised for the disposal of assets not contemplated during budget development, and an unspent 2015-16 equity injection for fit-out works at the Bangkok and Indonesian offices expired on 1 July 2018.

Cash flow statement

for the period ended 30 June 2019

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

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

Sales of goods and rendering of services

Revenue from rendering services is primarily associated with management fees from agreements with the Department of Foreign Affairs and Trade for the management of Research Programs. The agreements provide for ACIAR to draw on the management fee (up to a capped limit) with the variance to budget consistent with the increase in overall costs.

Net GST received

This reflects GST payments expected to be received from the Australian Taxation Office based on estimates of expenditure made during budget development. It is not unusual for this amount to change from time to time in the normal course of business.

Proceeds from sales of property, plant and equipment

A motor vehicle was sold during the year.

Purchase of property, plant and equipment (PP&E)

ACIAR budgeted for purchases of PP&E consistent with its known Departmental Capital Budget. However, during the year ACIAR made planned use of current year revenue which it had not included in its budget to upgrade aged IT hardware.

Returns of capital

An unspent 2015-16 equity injection for fit-out works at the Bangkok and Indonesian offices which expired on 1 July 2018.

Administered schedule of comprehensive income

for the period ended 30 June 2019

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

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

External funds

The majority of ACIAR’s external funds currently come from DFAT. Due to a slowing of the growth in Australia’s aid program external funding was less than originally budgeted.

Administered schedule of assets and liabilities

as at 30 June 2019

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

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

Taxation receivables

This reflects GST receivable from the Australian Taxation Office based on estimates of expenditure made during budget development. It is not unusual for this amount to change from time to time in the normal course of business.

Trade and other receivables

The budget assumes that revenues will be received before year end. In this instance the closing balance reflects cash receivable from Department of Foreign Affairs and Trade.

Other non-financial assets

ACIAR recognises prepayments at the end of the year for goods and services paid for but not yet consumed, this amount changes from time to time in the normal course of business.

Suppliers and other payables

ACIAR recognises payables and accrued expenditure at the end of the year for work performed but not yet paid (including salaries), this amount changes from time to time in the normal course of business.

Administered reconciliation schedule

for the period ended 30 June 2019

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

Accounting Policy

Administered cash transfers to and from the Official Public Account (OPA)

Revenue collected by ACIAR for use by the Government, rather than ACIAR, is Administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the Administered cash held by the entity on behalf of the Government and reported as such in the Schedule of Administered Cash Flows and in the Administered Reconciliation Schedule.

Administered cash flow statement

for the period ended 30 June 2019

This schedule should be read in conjunction with the accompanying notes.

Budget variances commentary

All variances above 10% of the relevant category are considered significant and explained below.

External funds

Less than budgeted due to a combination of delays in contracting overseas research activity, delays in external funders confirming availability of funds and the securing of less external funding than originally budgeted.

Net GST received

This reflects GST payments expected to be received from the Australian Taxation Office based on estimates of expenditure made during budget development. It is not unusual for this amount to change from time to time in the normal course of business.