Administered schedules
Administered Schedule of Comprehensive Income for the period ended 30 June 2021
Notes | 2021 | 2020 | Original Budget1 | |
$'000 | $'000 | $'000 | ||
NET COST OF SERVICES | ||||
EXPENSES | ||||
Political Party / nominations refunds / Non Voter Fines Refunds | 505 | 0 | 0 | |
Total expenses | 505 | 0 | 0 | |
INCOME | ||||
Revenue | ||||
Non-taxation revenue | ||||
Electoral fines/penalties | 169 | 2,847 | 33 | |
Political Party funding | 181 | 9,017 | 0 | |
Other | 44 | 5 | 0 | |
Total non-taxation revenue | 394 | 11,869 | 33 | |
Total revenue | 394 | 11,869 | 33 | |
Net contribution by services | -111 | 11,869 | 33 | |
(Deficit) / Surplus | -111 | 11,869 | 33 |
This schedule should be read in conjunction with the accompanying notes.
Budget Variances Commentary
The AEC's administered expenses and revenue were higher than anticipated due to the two by-elections conducted during the financial year.
Administered Schedule of Assets and Liabilities as at 30 June 2021
There are no assets and liabilities as at 30 June 2021 (2020: Nil).
This schedule should be read in conjunction with the accompanying notes.
Administered Reconciliation Schedule
Administered Reconciliation Schedule | Notes | 2021 | 2020 | Original Budget1 |
$'000 | $'000 | $'000 | ||
Opening assets less liabilities as at 1 July | 0 | -24,704 | 0 | |
Net cost of/(contribution by) services: | ||||
Income | 394 | 11,869 | 0 | |
Less: Expenses | 505 | 0 | 0 | |
Transfers (to)/from the Australian Government: | ||||
Appropriation transfers from Official Public Account | ||||
Special appropriations (limited) | 505 | 15,984 | 0 | |
Appropriation transfers to OPA | ||||
Transfers to OPA | -394 | -3,149 | 0 | |
Closing assets less liabilities as at 30 June | 0 | 0 |
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
Notes | 2021 | 2020 | |
$'000 | $'000 | ||
OPERATING ACTIVITIES | |||
Cash received | |||
Electoral fines/penalties | 169 | 2,847 | |
Political Party funding | 181 | 0 | |
Other | 44 | 5 | |
Total cash received | 394 | 2,852 | |
Cash used | |||
Political Party / nominations refunds | 505 | 15,689 | |
Total cash used | 505 | 15,689 | |
Net cash flows (used by) / from operating activities | -111 | -12,837 | |
Cash from Official Public Account | |||
Appropriations | 505 | 15,984 | |
Total cash from official public account | 505 | 15,984 | |
Cash to Official Public Account | |||
Appropriations | -394 | -3,149 | |
Total cash to official public account | -394 | -3,149 | |
Cash and cash equivalents at the beginning of the reporting period | 0 | 2 | |
Cash and cash equivalents at the end of the reporting period | 0 | 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/2020-21-15