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Administered Schedule of Comprehensive Income

Administered Schedule of Comprehensive Income

for the period ended 30 June 2020

Notes

2020

$'000

2019

$'000

Original Budget

$'000

NET COST OF SERVICES

Expenses

Impairment Loss on Financial Instruments

2.1A

15,110

457

-

Payments Made Through Special Accounts

2.1B

66,033

52,025

49,567

Total expenses

81,143

52,482

49,567

Income

Revenue

Taxation Revenue

Charges

2.2A

38,811

37,755

32,736

Total taxation revenue

38,811

37,755

32,736

Non-Taxation Revenue

Fees and Fines

2.2B

61,117

89,810

69,476

Interest

2.2C

181

285

303

Return of Payments Made Through Special Accounts

272

8,202

-

Total non-taxation revenue

61,570

98,297

69,779

Total revenue

100,381

136,052

102,515

Gains

Reversal of Write-Downs and Impairment

5

6

-

Total gains

5

6

-

Total income

100,386

136,058

102,515

Net contribution by services

19,243

83,576

52,948

Total comprehensive income

19,243

83,576

52,948

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

Budget Variances Commentary

The policy for explanation of major budget variances is included in the Overview section. The budget variance for impairment loss on financial instruments relates to a $14.96m provision for impairment made on Pecuniary Penalty Orders (PPOs). Payments made through Special Accounts budget variance relates to proceeds of crime expenditure which is not within the control of AFSA and it is therefore not possible to predict with certainty. Charges revenue variance is a result of higher than forecast gross asset realisations by trustees. The budget variance relating to fees and fines is difficult to forecast as it includes proceeds of crime related revenue. Return of payments made through Special Accounts budget variance relates to the refund of monies not within the control of AFSA and therefore not possible to predict.