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Statement of Comprehensive Income

For the period ended 30 June 2020

2020

2019

Original Budget

Notes

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

19,522

19,198

17,548

Suppliers

1.1B

5,213

7,885

5,016

Depreciation and Amortisation

2.2A

4,177

910

863

Finance costs

1.1C

47

-

-

Write-down and impairment of other assets

1.1D

-

2

-

Total expenses

28,959

27,994

23,427

Own-source income

Own-source revenue

Rendering of Services

1.2A

5,408

8,683

4,650

Interest

1.2B

40

198

250

Other Revenue

1.2C,D

1,198

1,186

985

Total own-source revenue

6,646

10,067

5,885

Gains

Other Gains

1.2E

1

33

46

Total gains

1

33

46

Total own-source income

6,648

10,100

5,931

Net cost of services

(22,312)

(17,894)

(17,496)

Revenue from Government

1.2F

16,538

16,709

16,538

Deficit attributable to the Australian Government

(5,774)

(1,185)

(958)

2020

2019

Original Budget

Notes

$'000

$'000

$'000

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation surplus

171

-

-

Total other comprehensive income

171

-

-

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

Budget Variances Commentary - Statement of Comprehensive Income

Major variances reflect the impacts from implementation of new accounting standards AASB 15 Revenue from Contracts with Customers and AASB 16 Leases during the reporting period. Recognition of revenue from rendering of services applies the single AASB 15 model to contracts with customers and two approaches to recognising revenue: at a point in time or over time. Commentary for the operating deficit is included on the Statement of Changes in Equity. Depreciation and amortisation shows the removal of lease classification as either operating or finance leases – for the lessee – effectively treating all leases as finance leases. Further commentary is included on the Statement of Financial Position.