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 | 19,522 | 19,198 | 17,548 | |
Suppliers | 5,213 | 7,885 | 5,016 | |
Depreciation and Amortisation | 4,177 | 910 | 863 | |
Finance costs | 47 | - | - | |
Write-down and impairment of other assets | - | 2 | - | |
Total expenses | 28,959 | 27,994 | 23,427 | |
Own-source income | ||||
Own-source revenue | ||||
Rendering of Services | 5,408 | 8,683 | 4,650 | |
Interest | 40 | 198 | 250 | |
Other Revenue | 1,198 | 1,186 | 985 | |
Total own-source revenue | 6,646 | 10,067 | 5,885 | |
Gains | ||||
Other Gains | 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 | 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.
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