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Statement of Comprehensive Income

Australian Institute of Aboriginal and Torres Strait Islander Studies

STATEMENT OF COMPREHENSIVE INCOME

for the period ended 30 June 2019

Notes

2019

$'000

2018

$'000

Original Budget $'000

NET COST OF SERVICE

Expenses

Employee Benefits

1.1A

11,719

11,232

10,746

Suppliers

1.1B

11,251

11,864

14,406

Depreciation and amortisation

2.2A

1,077

984

1,196

Impairment loss allowance on financial instruments

3

0

0

Write-down and impairment of other assets

7

0

0

Total expenses

24,057

24,080

26,348

Own-Source Income

Own-source revenue

Sale of goods and rendering of services

1.2A

745

548

797

Interest

636

466

450

Grants

1.2B

3,239

2,283

3,113

Other revenue

1.2C

241

1,290

1,600

Total own-source revenue

4,861

4,587

5,960

Gains

Reversal of write-downs and impairment

0

10

0

Total gains

0

10

0

Total own-source income

4,861

4,597

5,960

Net cost of services

19,196

19,483

20,388

Revenue from Government

1.2D

20,388

19,493

20,388

Surplus

1,192

10

0

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation reserve

1,876

0

0

Total comprehensive surplus attributable to the Australian Government

3,068

10

0

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

Budget Variances Commentary

Employee benefits were higher than budget for 2018-19 due to:

  1. a salary increase effective November 2018 under a new Enterprise Agreement, agreed after the 2018-19 Budget,
  2. impact of an increase in employee provisions largely due to the impact of a decrease in the bond rate on non-current leave calculations.

Supplier expenses were lower than budget largely due to the change in dates of conferences held to 2019-20, as well as less

building maintenance during the year.

Interest revenue was higher than budget primarily due to a larger amount of funds available for deposit during the year combined with the timing of expenses.

Other revenue was lower than budget largely due to the change of dates of conferences held to 2019-20.