Cash flow statement
for the period ended 30 June 2019
|
Notes |
2019 |
2018 |
Original Budget 2019 |
|
|
OPERATING ACTIVITIES |
||||
|
Cash received |
||||
|
Appropriations |
15,125,709 |
14,502,406 |
3,852,000 |
|
|
Sale of goods and rendering of services |
13,192,860 |
12,081,800 |
10,767,000 |
|
|
GST received |
426,722 |
– |
16,000 |
|
|
Other |
33,000 |
24,981 |
2,000 |
|
|
Total cash received |
28,778,291 |
26,609,187 |
14,637,000 |
|
|
Cash used |
||||
|
Employee benefits |
(9,926,172) |
(8,667,396) |
(10,302,000) |
|
|
Suppliers |
(4,555,009) |
(4,435,478) |
(4,305,000) |
|
|
GST paid |
(1,068,491) |
(486,414) |
– |
|
|
Section 74 receipts transferred to OPA |
(12,566,560) |
(12,454,507) |
– |
|
|
Total cash used |
(28,116,232) |
(26,043,795) |
(14,607,000) |
|
|
Net cash from/(used by) operating activities |
662,059 |
565,392 |
30,000 |
|
|
INVESTING ACTIVITIES |
||||
|
Cash received |
||||
|
Contribution towards purchase of leasehold improvements, plant and equipment |
– |
600,000 |
– |
|
|
Total cash received |
– |
600,000 |
– |
|
|
Cash used |
||||
|
Purchase of leasehold improvements, plant and equipment |
(444,577) |
(2,077,330) |
(189,000) |
|
|
Total cash used |
(444,577) |
(2,077,330) |
(189,000) |
|
|
Net cash used by investing activities |
(444,577) |
(1,477,330) |
(189,000) |
|
|
FINANCING ACTIVITIES |
||||
|
Cash received |
||||
|
Contributed equity |
425,792 |
1,310,954 |
189,000 |
|
|
Total cash received |
425,792 |
1,310,954 |
189,000 |
|
|
Net cash from financing activities |
425,792 |
1,310,954 |
189,000 |
|
|
Net increase/(decrease) in cash held |
643,274 |
399,016 |
30,000 |
|
|
Cash and cash equivalents at the beginning of the reporting period |
1,017,446 |
618,430 |
444,000 |
|
|
Cash and cash equivalents at the end of the reporting period |
1,660,720 |
1,017,446 |
474,000 |
The above statement should be read in conjunction with the accompanying notes.
Budget variances commentary
Australian Institute of Family Studies ‘the Institute’ original budgeted financial statement was first presented to Parliament in respect of the reporting period in the 2018/19 PBS.
Explanations of major variance between actual and original budgeted amounts for 2018/19 are provided where the variance is greater than 10% for a line item or greater than $251,000 unless the variance is a trivial amount.
|
Explanations of major variances |
Affected line items |
|
The presentation of the Cash Flow Statement in the PBS does not require entities to account for the return of section 74 receipts to the OPA and the redrawing of these funds from the relevant Appropriation Item. Subsequently, the Cash Flow Statement presented in the 2018/19 Financial Statements identifies significantly higher amounts of ‘Cash received’ and ‘Cash used’ than in the PBS. |
Appropriation, Section 74 receipts transferred to OPA |
|
The majority of the Institute’s revenue is earned from commissioned research and/or evaluation projects. The Institute’s estimated revenue as published in the 2018/19 PBS was based on an assumption of revenue to be earned from long-term continuing projects along with an assumption of the value of work the Institute would be contracted to deliver in the financial year, based on historical trends. During 2018/19 the total value of revenue received for research and evaluation the Institute was commissioned to deliver was more than historical averages, resulting in a higher value of unearned income carried forward to future periods. |
Sale of goods and rendering of services |
|
The Institute incurred additional costs in data collection, travel and relocation costs including legal advice relating to signing of the new leasehold. |
Suppliers |
|
Employee numbers were below budgeted as new projects took time to engage new employees, resulting in reduced employee benefits. |
Employee benefits |
|
The Institute completed fit out of new premises at 40 City Road, Southbank, Including new telephony, and also upgraded it's Information Systems Technology. |
Purchase of leasehold improvements, plant and equipment |
Visit
https://www.transparency.gov.au/annual-reports/australian-institute-family-studies/reporting-year/2018-2019-47