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
Visit
https://www.transparency.gov.au/annual-reports/australian-curriculum-assessment-and-reporting-authority/reporting-year/2019-20-17