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1. Financial performance

This section analyses the financial performance of ACIAR for the financial year ended 2020.

1.1 Expenses

1.1A Employee benefits

Employee benefits

2020

2019

$’000

$’000

Wages and salaries

5,516

5,381

Superannuation:

Defined contribution plans

441

455

Defined benefit plans

877

585

Leave and other entitlements

652

879

Separation and redundancies

24

29

Total employee benefits

7,510

7,329

Accounting policy

Accounting policies for employee related expenses are contained in the People and Relationships section.

1.1B Suppliers

Suppliers

2020

2019

$'000

$'000

Goods and services supplied or rendered

Contractors, consultants and service providers

1,262

1,311

Travel

351

624

IT Services

629

832

Property services (excluding rent)

285

350

Workforce capability

166

329

Publications and promotion

30

48

Other

198

258

Total goods and services supplied or rendered

2,921

3,752

Goods supplied

473

542

Services rendered

2,448

3,210

Total goods and services supplied or rendered

2,921

3,752

Other suppliers

Operating lease rentals1&2

10

699

Workers compensation expenses

30

40

Total other suppliers

40

739

Total suppliers

2,961

4,491

1ACIAR has applied AASB 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.

2Rental payment for overseas office for the period 1 July 2017 to 30 June 2019

The above lease disclosures should be read in conjunction with the accompanying notes 1.1C, 3.2A and 3.4A

1.1C Finance costs

Finance costs

2020

2019

$'000

$'000

Interest on lease liabilities1

80

-

Total finance costs

80

-

1 ACIAR has applied AASB 16 using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.

The above lease disclosures should be read in conjunction with the accompanying notes 1.1B, 3.2A and 3.4A.

1.1D Foreign exchange losses

Foreign exchange losses

2020

2019

Non-speculative

1

-

Total foreign exchange losses

1

-

1.2 Own-source revenue and gains

1.2A Own-source revenue and gains

Revenue from contracts with customers

2020

2019

$’000

$’000

Sale of goods

25

20

Rendering of services

631

2,616

Total sale of goods and rendering of services

656

2,636

Disaggregation of revenue from contracts with customers

Major product / service line:

Research services

656

2,636

656

2,636

Type of customer:

Australian Government entities (related parties)

631

2,616

Non-government entities

25

20

656

2,636

Timing of transfer of goods and services:

Over time

656

2,636

656

2,636

Accounting policy

Revenue from the sale of goods is recognised when:

  1. the risks and rewards of ownership have been transferred to the buyer; and
  2. ACIAR retains no managerial involvement or effective control over the goods.

Revenue from rendering of services is recognised when performance obligations are satisfied. The revenue is determined by reference to expenses incurred for project services at the end of each month.

Receivables for goods and services, which have 30-day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

1.2B Other revenue

Other revenue

2020

2019

$'000

$'000

Resources received free of charge

Remuneration of auditors

34

32

Other non taxation revenue

1,541

-

Total other revenue

1,575

32

Accounting policy

Resources received free of charge

Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature.

Other non-taxation revenue

Other non-taxation revenue is recognised over time as Departmental incurs costs associated with locally engaged staff in international offices which are on-charged to Administered.

1.2C Revenue from Government

Revenue from Government

2020

2019

$'000

$'000

Appropriations

Departmental appropriations

9,312

9,302

Total revenue from Government

9,312

9,302

Accounting policy

Revenue from Government

Amounts appropriated for Departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as Revenue from Government when the entity gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts.