Note 1 - Financial Performance
Australian Institute of Aboriginal and Torres Strait Islander Studies
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the period ended 30 June 2019
Financial Performance |
||
2019 |
2018 |
|
$'000 |
$'000 |
|
Note 1.1 Expenses |
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Note 1.1A Employee benefits |
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Wages and salaries |
8,663 |
8,861 |
Superannuation |
||
Defined contribution plans |
954 |
913 |
Defined benefit plans |
666 |
613 |
Leave and other entitlements |
1,436 |
845 |
Total employee benefits |
11,719 |
11,232 |
Accounting Policy
The accounting policy for employee related expenses is contained in the People and Relationships section.
Note 1.1B Suppliers |
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Goods and services supplied or rendered |
||
Consultants |
1,536 |
1,691 |
Contractors |
4,519 |
3,476 |
Goods and services supplied or rendered |
751 |
718 |
Building Expenses |
649 |
1,265 |
ICT Expenses |
1,369 |
1,349 |
Other |
1,806 |
2,752 |
Total goods and services supplied or rendered |
10,630 |
11,251 |
Goods supplied |
1,500 |
2,294 |
Services rendered |
9,130 |
8,957 |
Total goods and services supplied or rendered |
10,630 |
11,251 |
Other suppliers |
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Operating lease rentals |
555 |
523 |
Workers compensation expenses |
66 |
90 |
Total other suppliers |
621 |
613 |
Total suppliers |
11,251 |
11,864 |
Accounting Policy
The accounting policy for employee related expenses is contained in the People and Relationships section.
Leasing Commitments
In its capacity as lessee, the Institute holds a lease at 14 Childers Street, Canberra City, which expires on 30 June 2020. The lease does not contain an option for renewal on expiry.
Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows:
Australian Institute of Aboriginal and Torres Strait Islander Studies |
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS |
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for the period ended 30 June 2019 |
|||
2019 |
2018 |
||
$'000 |
$'000 |
||
Within 1 year |
618 |
594 |
|
Between 1 to 5 years |
0 |
618 |
|
Total operating lease commitments 1 |
618 |
1,212 |
1 Comparative has been updated to reflect the cash commitment
Accounting Policy
Operating lease payments are expensed on a monthly rent charged basis which is representative of the pattern of benefits derived from the leased assets.
Australian Institute of Aboriginal and Torres Strait Islander Studies |
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NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS for the period ended 30 June 2019 |
||
2019 |
2018 |
|
$'000 |
$'000 |
|
Note 1.2: Own-Source Revenue and Gains |
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Own-Source Revenue |
||
Note 1.2A: Sale of goods and rendering of services |
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Sale of goods |
516 |
489 |
Rendering of services |
229 |
59 |
Total sale of goods and rendering of services |
745 |
548 |
Accounting Policy
Revenue from the sale of goods is recognised when:
a) the risks and rewards of ownership have been transferred to the buyer;
b) the entity retains no managerial involvement or effective control over the goods;
The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction.
Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.
Note 1.2B: Grants |
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From related entities |
3,089 |
2,183 |
From external parties |
150 |
100 |
Total grants |
3,239 |
2,283 |
Accounting Policy
Grant revenue is recognised on a systematic basis over the period in which the Institute recognises as expense the related costs for which the grants are intended, the revenue is recognised as unearned until this time. The exception to this policy is for grants received for non-reciprocal purposes which are recognised when the Institute gains control over the assets comprising the contributions.
Note 1.2C: Other Revenue |
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Conference fees |
0 |
1,155 |
|
Other revenue |
241 |
135 |
|
Total other revenue |
241 |
1,290 |
|
Note 1.2D: Revenue from Government |
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Corporate Commonwealth entity payment item |
|||
Department of the Prime Minister and Cabinet |
20,388 |
16,244 |
|
Department of Education |
0 |
3,249 |
|
Total revenue from Government |
20,388 |
19,493 |
Accounting Policy
Revenue from Government
Funding received or receivable from non-corporate Commonwealth entities (appropriated to the non-corporate Commonwealth entity as a corporate Commonwealth entity payment item for payment to the Institute) is recognised as Revenue from Government unless the funding is in the nature of an equity injection or a loan.
Visit
https://www.transparency.gov.au/annual-reports/australian-institute-aboriginal-and-torres-strait-islander-studies/reporting-year/2018-2019-37