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Departmental financial statements

Statement of comprehensive income

for the year ended 30 June 2020

Actual

2020

Actual

20191

Original

Budget2

Variance3

Notes

$'000

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

943,682

928,200

909,219

34,463

Suppliers

1.1B

403,343

475,338

506,361

(103,018)

Depreciation and amortisation

2.2A

203,319

93,459

106,982

96,337

Finance costs

1.1C

14,941

565

-

14,941

Write-down and impairment of other assets

1.1D

2,434

8,593

-

2,434

Grants

2,148

3,197

-

2,148

Other expenses

1,250

910

-

1,250

Total expenses

1,571,117

1,510,262

1,522,562

48,555

Own-source income

Own-source revenue

Revenue from contracts with customers

290,676

284,066

289,046

1,630

Other revenue

5,150

1,514

340

4,810

Total own-source revenue

1.2A

295,826

285,580

289,386

6,440

Gains

Resources received free of charge

6,179

6,114

6,129

50

Gains from sale of assets

611

952

-

611

Other gains

3,703

797

-

3,703

Total gains

1.2B

10,493

7,863

6,129

4,364

Total own-source income

306,319

293,443

295,515

10,804

Net cost of services

(1,264,798)

(1,216,819)

(1,227,047)

(37,751)

Revenue from government

4.1A

1,128,302

1,103,344

1,122,948

5,354

Deficit attributable to the Australian Government

(136,496)

(113,475)

(104,099)

(32,397)

Other comprehensive income

Items not subject to subsequent reclassification to net cost of services

Revaluation of property, plant and equipment

22,877

-

-

22,877

Total other comprehensive income

22,877

-

-

22,877

Total comprehensive loss attributable to the Australian Government

(113,619)

(113,475)

(104,099)

(9,520)

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

1 Adjusted 2018-19 figures. Refer to Note 3.4.

2 The original budget is from the 2019–20 Portfolio Budget Statement (PBS) (unaudited).

3 The variance between the actual and original budgeted amount for 2019–20. Explanations of major variances are presented in Note 5.1.

Statement of financial position

as at 30 June 2020

Notes

Actual

2020

Actual

2019 1

Original

Budget 2

Variance 3

ASSETS

$'000

$'000

$'000

$'000

Financial assets

Cash and cash equivalents

2.1A

23,442

21,467

15,596

7,846

Trade and other receivables

2.1B

285,005

287,315

264,201

20,804

Accrued revenue

9,230

5,570

6,421

2,809

Total financial assets

317,677

314,352

286,218

31,459

Non-financial assets

Land and buildings

2.2A

1,361,999

364,372

325,438

1,036,561

Property, plant and equipment

2.2A

244,973

180,014

252,427

(7,454)

Intangibles

2.2A

101,295

82,083

113,334

(12,039)

Inventories

6,197

6,399

6,094

103

Prepayments

23,067

29,478

25,303

(2,236)

Total non-financial assets

1,737,531

662,346

722,596

1,014,935

Total assets

2,055,208

976,698

1,008,814

1,046,394

LIABILITIES

Payables

Suppliers

2.3A

65,443

100,927

115,408

(49,965)

Other payables

2.3B

35,535

18,586

19,674

15,861

Total payables

100,978

119,513

135,082

(34,104)

Interest bearing liabilities

Leases

2.4

1,046,592

-

-

1,046,592

Total interest bearing liabilities

1,046,592

-

-

1,046,592

Provisions

Employee provisions

3.1

417,220

409,650

326,652

90,568

Other provisions

2.5

37,732

31,499

32,366

5,366

Total provisions

454,952

441,149

359,018

95,934

Total liabilities

1,602,522

560,662

494,100

1,108,422

Net assets

452,686

416,036

514,714

(62,028)

EQUITY

Contributed equity

1,455,572

1,330,782

1,460,725

(5,153)

Reserves

147,348

124,471

124,471

22,877

Accumulated deficit

(1,150,234)

(1,039,217)

(1,070,482)

(79,752)

Total equity

452,686

416,036

514,714

(62,028)

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

1 Adjusted 2018-19 figures. Refer to Note 3.4.

2 The original budget is from the 2019–20 Portfolio Budget Statement (PBS) (unaudited).

3 The variance between the actual and original budgeted amount for 2019–20. Explanation of major variances are presented in Note 5.1.

Statement of changes in equity

for the year ended 30 June 2020

Actual

2020

Actual 20191

Original

Budget2

Variance3

$'000

$'000

$'000

$'000

CONTRIBUTED EQUITY

Opening balance carried forward from previous period

1,330,782

1,201,250

1,330,756

26

Transactions with owners

Departmental capital budget

Returns of contributed equity

(6,780)

-

-

(6,780)

Contributions by owners

Equity injection - appropriations

53,319

70,909

51,319

2,000

Departmental capital budget

78,251

58,623

78,650

(399)

Total transactions with owners

124,790

129,532

129,969

(5,179)

Closing balance as at 30 June

1,455,572

1,330,782

1,460,725

(5,153)

RETAINED EARNINGS

Opening balance

Opening balance carried forward from previous period

(1,039,217)

(917,803)

(966,383)

(72,834)

Adjustment for prior year restatement

-

(7,939)

-

-

Adjustment for changes in accounting policies4

25,479

-

-

25,479

Adjusted opening balance

(1,013,738)

(925,743)

(966,383)

(47,355)

Comprehensive income

(Deficit) for the period

(136,496)

(113,475)

(104,099)

(32,397)

Total comprehensive income

(136,496)

(113,475)

(104,099)

(32,397)

Closing balance as at 30 June

(1,150,234)

(1,039,217)

(1,070,482)

(79,752)

ASSET REVALUATION RESERVE

Opening balance carried forward from previous period

124,471

124,471

124,471

-

Comprehensive income

Other comprehensive income

22,877

-

-

22,877

Total comprehensive income

22,877

-

-

22,877

Closing balance as at 30 June

147,348

124,471

124,471

22,877

TOTAL EQUITY

452,686

416,036

514,714

(62,028)

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

1Adjusted 2018-19 figures. Refer to Note 3.4.

2The original budget is from the 2019–20 Portfolio Budget Statement (PBS) (unaudited).

3The variance between the actual and original budgeted amount for 2019–20. Explanation of major variances are presented in Note 5.1.

4The adoption of AASB 16 Leases resulted in the lease balances previously recognised under AASB 117 being adjusted against opening retained earnings. Refer to the Overview for further detail.

Accounting policy

Equity Injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

Cash flow statement

for the year ended 30 June 2020

Notes

Actual

2020

Actual

2019

Original

Budget1

Variance2

Operating activities

$'000

$'000

$'000

$'000

Cash received

Appropriations

1,420,744

1,403,641

1,363,423

57,321

Sales of goods and rendering of services

309,107

285,884

287,207

21,900

Net GST received

45,160

37,532

31,994

13,166

Other

41,323

2,588

340

40,983

Total cash received

1,816,334

1,729,645

1,682,964

133,370

Cash used

Employees

938,718

904,083

911,757

26,961

Suppliers

447,586

517,036

502,450

(54,864)

Section 74 receipts transferred to Official Public Account (OPA)

309,529

285,403

264,053

45,476

Interest payments on lease liabilities

14,381

-

-

14,381

Grant payments

2,148

3,197

-

2,148

Total cash used

1,712,362

1,709,719

1,678,260

34,102

Net cash used by operating activities

103,972

19,926

4,704

99,268

Investing activities

Cash received

Proceeds from sale of property, plant and equipment

611

1,119

-

611

Total cash received

611

1,119

-

611

Cash used

Purchase of property, plant and equipment

74,700

26,675

133,843

(59,143)

Purchase of land and buildings

34,088

67,341

-

34,088

Purchase of intangibles

31,264

30,148

-

31,264

Total cash used

140,052

124,164

133,843

6,209

Net cash used by investing activities

(139,441)

(123,045)

(133,843)

(5,598)

Financing activities

Cash received

Contributed equity

43,556

59,136

132,347

(88,791)

Departmental capital budget funding

91,110

49,855

-

91,110

Total cash received

134,666

108,991

132,347

2,319

Cash used

Principal payments of lease liabilities

97,222

-

-

97,222

Total cash used

97,222

-

-

97,222

Net cash used by financing activities

37,444

108,991

132,347

(94,903)

Net increase in cash held

1,975

5,872

3,208

(1,233)

Cash and cash equivalents at the beginning of the period

21,467

15,595

12,388

9,079

Cash and cash equivalents at the end of the period

2.1A

23,442

21,467

15,596

7,846

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

1The original budget is from the 2019–20 Portfolio Budget Statement (PBS) (unaudited).

2The variance between the actual and original budgeted amount for 2019–20. Explanation of major variances are presented in Note 5.1.