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Statement of Comprehensive Income for the year ended 30 June 2020

2020

2019

Original Budget

Note

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee benefits

2.1(a)2.1(a)

16,214

14,500

15,827

Supplier expenses

2.1(b)2.1(b)

15,794

15,914

12,284

Depreciation and amortisation

3.23.2

1,542

708

665

Finance costs

2.1(c)2.1(c)

71

0

0

Write-down of assets

2.1(d)2.1(d)

100

0

0

Total expenses

33,721

31,122

28,776

Own Source Income

Revenue

Revenue from Jurisdictions – States and Territories

2.2(a)2.2(a)

11,930

13,082

12,050

Other revenue – Projects

2.2(a)2.2(a)

10,321

4,192

2,350

Interest – Bank deposits

2.2(b)2.2(b)

180

260

180

Total own source revenue

22,431

17,534

14,580

Net cost of / (contribution by) services

11,290

13,588

14,196

Revenue from Government – Australian Government

12,626

12,982

14,196

Surplus / (deficit) attributable to the Australian Government

1,336

-606

0

Other Comprehensive Income

Changes in asset revaluation

0

0

0

Total comprehensive (deficit) / income attributable to the Australian Government

1,336

-606

0

Budget Variances Commentary

1. Supplier expenses – The use of secondees, casual staff and contractors to service short term project engagements and specialised work.

2. Depreciation and amortisation – The adoption of AASB 16 has resulted in increased depreciation expenses.

3. Other revenue – Additional funding from the Australian Government, States & Territories, and industry bodies for additional project work in Curriculum, Assessment and Reporting.

4. Other revenue – The application of amended AASB 15 and AASB 1058 resulted in additional revenue being recognised in 2019-20, for contributions and funded project work in 2020-21.

5. Other revenue - The result of NAPLAN not occurring ($800k) was refunded to the jurisdictions in 2019-20 FY

Variances are considered to be “major” based on the following:

  The variance between budget and actual is greater than 10%; and

  An item below this threshold but which is considered important for the readers understanding or is relevant to an assessment of the discharge of accountability and to an analysis of performance of ACARA.

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