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Statement of Comprehensive Income

Table undefined: Statement of Comprehensive Income aka profit and loss for the Australian Public Service Commission. This compares expenses with income to calculate the net cost of services. The net cost of services is then offset with Appropriation funding from government to calulate a net surplus or loss for the year.

Notes

2019

$’000

2018

$’000

2019 Budget

$’000

NET COST OF SERVICES

Expenses

Employee benefits

1.1a

26,297

26,013

25,864

Suppliers

1.1b

17,338

17,150

16,240

Depreciation and amortisation

3.2a

1,583

1,690

1,803

Finance costs

5

4

5

Impairment loss allowance on financial instruments

1.1c

4

-

-

Write-down and impairment of other assets

1.1d

860

-

-

Losses from asset sales

26

31

-

Total expenses

46,113

44,888

43,912

Own-source Income

Own-source revenue

Sale of goods and rendering of services

1.2a

22,416

20,877

20,903

Resources received free of charge

1.2b

41

40

45

Total own-source revenue

22,457

20,917

20,948

Gains

Reversal of write-downs and impairment

-

1

-

Total gains

-

1

-

Total own-source income

22,457

20,918

20,948

Net cost of services

(23,656)

(23,970)

(22,964)

Revenue from Government

1.2c

21,299

22,811

21,299

Surplus/(Deficit)

(2,357)

(1,159)

(1,665)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation reserve

3.2a

(203)

-

-

Total other comprehensive income

(203)

-

-

Total comprehensive income/(loss)

(2,560)

(1,159)

(1,665)

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

Budget variances commentary

The following table provides high level commentary of major variances for the APSC between budget information as published in the 2018-19 Portfolio Budget Statements to the 2018-19 final outcome as presented in accordance with Australian Accounting Standards.

This table explains the major variances from budget for the Departmental Statement of Comprehensive Income

Explanation of major variances

Affected line items

Sale of goods and services and Suppliers expense are higher than budget as the demand for learning and development activities was higher than the level planned when the budget was prepared.

An impairment loss was recognised for a software development that ceased.

Sale of goods and rendering of services $1,513,000 higher than budget and Suppliers $1,098,000 higher than budget.

Write-down and impairment of other assets $860,000 higher than budget.