Cash Flow Statement
for the period ended 30 June 2020
Principal payments of lease liabilities | 884 | - | - | |
Total cash used | 884 | - | - | |
Net cash from/(used by) financing activities | -429 | 609 | 455 | |
Net increase in cash held | 1,647 | -5,279 | -382 | |
Cash and cash equivalents at the beginning of the reporting period | 8,959 | 14,238 | 8,261 | |
Cash and cash equivalents at the end of the reporting period | 10,606 | 8,959 | 7,879 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary
Operating Activities
Appropriation receipts were $10.3 million higher than budgeted due to the Australian Government's industry assistance package to assist fishers in response to the Covid-19 pandemic. There was a related decrease in levies and licence fees received of $7.6m for waivers granted to fishers.
Sales of goods and services and net GST received were $2.0 million higher than budgeted due to higher vessel monitoring services and observer fee for service income of $0.8 million, and net GST received of $1.0 million.Employee cash payments were lower than budgeted by $2.0 million due to lower average staffing levels in 2019-20. Supplier cash used were $3.9 million higher than estimated primarily due to $2.5 million Act of Grace payments for Covid-19 relief to fishers and gross up of GST payments of $1.4 million which was not budgeted for.
Investing Activities
Total cash used were $0.2 million lower than estimated in the Original Budget primarily as a result of lower than anticipated IT project capital costs.
Financing Activities
Total cash used were $0.9 million higher than budgeted due to the transition to AASB 16 Leases. The budget estimates were updated to reflect this standard in subsequent budget rounds.
Visit
https://www.transparency.gov.au/annual-reports/australian-fisheries-management-authority/reporting-year/2019-20-34