Go to top of page

Statement of Financial Position

Australian Institute of Aboriginal and Torres Strait Islander Studies STATEMENT OF FINANCIAL POSITION

as at 30 June 2019

Original

ASSETS

Notes

2019

$'000

2018

$'000

Budget

$'000

Financial assets

Cash and cash equivalents

2.1A

6,316

10,179

5,028

Trade and other receivables

2.1B

779

864

556

Investments - deposits

23,617

16,716

11,975

Total financial assets

30,712

27,759

17,559

Non-financial assets

Buildings

2.2A

14,105

11,475

12,768

Plant and equipment

2.2A

2,718

2,192

3,496

Heritage and cultural

2.2A

11,445

11,280

11,085

Computer software

2.2A

75

89

112

Inventories

2.2B

189

206

215

Other non-financial assets

2.2C

652

526

152

Total non-financial assets

29,184

25,768

27,828

Total assets

59,896

53,527

45,387

LIABILITIES

Payables

Trade creditors and accruals

2,293

2,092

2,118

Other payables

2.3A

12,792

10,343

2,030

Total payables

15,085

12,435

4,148

Provisions

Employee provisions

3.1A

3,724

3,147

3,230

Total provisions

3,724

3,147

3,230

Total liabilities

18,809

15,582

7,378

Net assets

41,087

37,945

38,009

EQUITY

Contributed equity

3,909

3,835

3,909

Reserves

15,847

13,971

13,971

Retained earnings

21,331

20,139

20,129

Total equity

41,087

37,945

38,009

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

Budget Variances Commentary

Cash and investments are higher than the original budget due to cash received in advance for multi-year projects commencing in 2018-19. This is offset with the increase in Other payables over budget as these projects were started post the 2018-19 Budget.

Book value of Buildings is higher than budget primarily due to $1.447m revaluation increment.

Employee provisions are higher than budget largely due to the impact of a decrease in the bond rate on non-current leave calculations.