Administered schedules
Administered Schedule of Comprehensive Income for the period ended 30 June 2019
|
2019 |
2018 |
Original Budget |
||||
|
Notes |
$’000 |
$’000 |
$’000 |
|||
|
NET COST OF SERVICES |
||||||
|
EXPENSES |
||||||
|
Other expenses |
79,502 |
618 |
76,000 |
|||
|
Total expenses |
79,502 |
618 |
76,000 |
|||
|
INCOME |
||||||
|
Revenue |
||||||
|
Non-taxation revenue |
||||||
|
Electoral fines/penalties |
1,026 |
269 |
2,000 |
|||
|
Other |
27 |
6 |
- |
|||
|
Total non-taxation revenue |
1,053 |
275 |
2,000 |
|||
|
Total revenue |
1,053 |
275 |
2,000 |
|||
|
Net contribution by services |
(78,449) |
(343) |
(74,000) |
|||
|
(Deficit) / Surplus |
(78,449) |
(343) |
(74,000) |
|||
|
This schedule should be read in conjunction with the accompanying notes. |
||||||
Budget Variances Commentary
Schedule of Comprehensive Income
Administered expenses are higher than expected as a result of increased enrolment and voter turnout.
Administered revenue is lower than anticipated due to the timing of the federal election. Electoral fines for non-voters will occur during the 2019-20 financial year.
Administered Schedule of Assets and Liabilities as at 30 June 2019
|
2019 |
2018 |
Original Budget |
||||
|
Notes |
$’000 |
$’000 |
$’000 |
|||
|
ASSETS |
||||||
|
Financial assets |
||||||
|
Cash and cash equivalents |
2 |
- |
3,560 |
|||
|
Total financial assets |
2 |
- |
3,560 |
|||
|
Total assets administered on behalf of Government |
2 |
- |
3,560 |
|||
|
LIABILITIES |
||||||
|
Payables |
||||||
|
Suppliers |
24,706 |
- |
- |
|||
|
Total payables |
24,706 |
- |
- |
|||
|
Total liabilities administered on behalf of Government |
24,706 |
- |
- |
|||
|
Net assets |
(24,704) |
- |
3,560 |
|||
|
The above schedule should be read in conjunction with the accompanying notes. |
||||||
Budget Variances Commentary
Schedule of Assets and Liabilities
Administered liabilities are higher than expected due to the timing of the federal election as well as changes to the Political Party funding claims process. The new process allows Political Parties to claim funding over of a period of six months post an electoral event.
Administered Reconciliation Schedule
|
2019 |
2018 |
|||
|
$’000 |
$’000 |
|||
|
Opening assets less liabilities as at 1 July |
- |
2,273 |
||
|
Net cost of/(contribution by) services: |
||||
|
Income |
1,053 |
275 |
||
|
Expenses |
(79,502) |
(618) |
||
|
Transfers (to)/from the Australian Government: |
||||
|
Appropriation transfers from Official Public Account |
||||
|
Special appropriations (limited) |
55,077 |
631 |
||
|
Appropriation transfers to OPA |
||||
|
Transfers to OPA |
(1,332) |
(2,561) |
||
|
Closing assets less liabilities as at 30 June |
(24,704) |
- |
||
|
This schedule should be read in conjunction with the accompanying notes. |
||||
Accounting Policy
Administered Cash Transfers to and from the Official Public Account
Revenue collected by the AEC for use by the Government rather than the AEC 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
|
2019 |
2018 |
||
|
$’000 |
$’000 |
||
|
OPERATING ACTIVITIES |
|||
|
Cash received |
|||
|
Electoral fines/penalties |
1,026 |
269 |
|
|
Other |
27 |
6 |
|
|
Total cash received |
1,053 |
275 |
|
|
Cash used |
|||
|
Political Parties/Candidates |
54,787 |
618 |
|
|
Refund of Electoral fines/penalties |
9 |
- |
|
|
Total cash used |
54,796 |
618 |
|
|
Net cash flows (used by) / from operating activities |
(53,743) |
(343) |
|
|
Cash from Official Public Account |
|||
|
Appropriations |
55,077 |
631 |
|
|
Total cash from official public account |
55,077 |
631 |
|
|
Cash to Official Public Account |
|||
|
Appropriations |
(1,332) |
(2,561) |
|
|
Total cash to official public account |
(1,332) |
(2,561) |
|
|
Cash and cash equivalents at the beginning of the reporting period |
- |
2,273 |
|
|
Cash and cash equivalents at the end of the reporting period |
2 |
(0) |
|
|
This schedule should be read in conjunction with the accompanying notes. |
|||
Visit
https://www.transparency.gov.au/annual-reports/australian-electoral-commission/reporting-year/2018-2019-45