Cash Flow Statement
Australian Institute of Aboriginal and Torres Strait Islander Studies |
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CASH FLOW STATEMENT for the period ended 30 June 2019 |
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Original |
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Notes |
2019 |
2018 |
Budget |
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$'000 |
$'000 |
$'000 |
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OPERATING ACTIVITIES |
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Cash received |
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Receipts from Government |
20,388 |
19,493 |
20,388 |
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Sales of goods and rendering of services |
1,839 |
9,442 |
797 |
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Interest |
619 |
478 |
450 |
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Grants |
4,415 |
2,073 |
4,713 |
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Other |
642 |
1,630 |
0 |
|||
Net GST received |
1,067 |
643 |
0 |
|||
Total cash received |
28,970 |
33,759 |
26,348 |
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Cash used |
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Employees |
11,181 |
11,279 |
10,746 |
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Suppliers |
12,470 |
13,954 |
14,406 |
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Total cash used |
23,651 |
25,233 |
25,152 |
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Net cash from operating activities |
5,319 |
8,526 |
1,196 |
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INVESTING ACTIVITIES |
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Cash received |
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Net proceeds from matured deposits |
0 |
0 |
304 |
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Total cash received |
0 |
0 |
304 |
|||
Cash used |
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Purchase of property, plant and equipment |
2,355 |
840 |
1,574 |
|||
Net reinvestment in deposits |
6,901 |
2,609 |
0 |
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Total cash used |
9,256 |
3,449 |
1,574 |
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Net cash from /(used by ) investing activities |
(9,256) |
(3,449) |
(1,270) |
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FINANCING ACTIVITIES |
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Cash received |
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Contributed equity |
74 |
74 |
74 |
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Total cash received |
74 |
74 |
74 |
|||
Net cash from /(used by ) financing activities |
74 |
74 |
74 |
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Net increase in cash held |
(3,863) |
5,151 |
0 |
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Cash and cash equivalents at the beginning of the reporting period |
10,179 |
5,028 |
5,028 |
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Cash and cash equivalents at the end of the reporting period |
6,316 |
10,179 |
5,028 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variances Commentary
Cash at the end of the period is $1.288m higher than the original budget mainly due to cash received in advance of commencement of new projects, impacting both Sales and Grants received . This is offset by an increase in purchase of Property, Plant & Equipment (PP&E).
Purchase of PP&E is higher than budget due to an early completion of capital upgrades as well as works not initially planned being completed during 2018-19.
Investments increased due to cash received in advance for multi-year projects commencing in 2018-19. The proceeds from matured investments are offset by reinvestments.
Australian Institute of Aboriginal and Torres Strait Islander Studies
OVERVIEW
for the period ended 30 June 2019
The Basis of Preparation
The financial statements are general purpose financial statements and are required by section 42 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The financial statements have been prepared in accordance with:
- Public Governance, Performance and Accountability (Financial Reporting) Rule 2015 (FRR); and
- Australian Accounting Standards and Interpretations – Reduced Disclosure Requirements issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period.
The financial statements have been prepared on an accrual basis and in accordance with the historical cost convention, except for certain assets and liabilities at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position. The financial statements are presented in Australian dollars.
New Accounting Standards
All new or revised standards that were issued prior to the sign-off date and are applicable to the current reporting period did not have a material effect on the financial statements.
Future accounting standard requirements
The Australian Institute of Aboriginal and Torres Strait Islander Studies (Institute) will apply AASB 16 Leases, AASB 15 Revenue from Contracts with Customers and AASB 1058 Income for Not-for-Profit Entities from 2019-20. These standards are not expected to have a material impact on the transactions and balances recognised in the financial statements.
Taxation
The Institute is exempt from all forms of taxation except Fringe Benefits Tax (FBT) and the Goods and Services Tax (GST).
Events after balance date
There are no known events occurring after the reporting period that could impact on the financial statements.
Contingencies
There are no known contingent assets or liabilities.
Visit
https://www.transparency.gov.au/annual-reports/australian-institute-aboriginal-and-torres-strait-islander-studies/reporting-year/2018-2019-36