Statement of comprehensive income
for the period ended 30 June 2020
Original budget | ||||
2020 | 2019 | 2020 | ||
Notes | $ | $ | $ | |
NET COST OF SERVICES | ||||
Expenses | ||||
Employee benefits | 17,661,916 | 17,254,317 | 16,890,000 | |
Suppliers | 7,002,254 | 7,122,586 | 8,471,000 | |
Depreciation and amortisation | 3,437,020 | 2,915,497 | 2,570,000 | |
Finance costs | 9,466 | 0 | 0 | |
Impairment loss on financial instruments | 8,764 | 1,741 | 0 | |
Write-down and impairment of other assets | 130,876 | 33,612 | 0 | |
Losses from asset sales | 0 | 75 | 0 | |
Total expenses | 28,250,296 | 27,327,828 | 27,931,000 | |
Own-source income | ||||
Own-source revenue | ||||
Revenue from contracts with customers | 7,940,231 | 7,628,374 | 7,300,000 | |
Licence fees | 5,081,276 | 4,387,920 | 5,314,000 | |
Other revenue | 54,000 | 54,000 | 0 | |
Total own-source revenue | 13,075,507 | 12,070,294 | 12,614,000 | |
Gains | ||||
Foreign exchange gains | 1,021 | 278 | 0 | |
Reversal of write-downs and impairment | 0 | 491 | 0 | |
Total gains | 1,021 | 769 | 0 | |
Total own-source income | 13,076,528 | 12,071,063 | 12,614,000 | |
Net (cost of) contribution by services | 15,173,768 | 15,256,765 | 15,317,000 | |
Revenue from Government | 12,757,000 | 12,758,000 | 12,747,000 | |
Surplus / (Deficit) on continuing operations | (2,416,768) | (2,498,765) | (2,570,000) | |
OTHER COMPREHENSIVE INCOME | ||||
Items not subject to subsequent reclassification to net cost of services | ||||
Changes in asset revaluation surplus | 60,026 | 37,100 | 0 | |
Total other comprehensive income | 60,026 | 37,100 | 0 | |
Total comprehensive loss | (2,356,742) | (2,461,665) | (2,570,000) |
The above statement should be read in conjunction with the accompanying notes.
Budget variances commentary
Statement of comprehensive income
The above table provides a comparison between the 2019–2020 Portfolio Budget Statements (PBS) budget and the final financial outcome in the 2019–2020 financial statements. The Budget is not audited and does not reflect additional budget estimates provided in the 2019–2020 Portfolio Additional Estimates Statements (PAES) or the revised budget provided as part of the 2020–21 Portfolio Budget Statements (PBS). However major changes in budget have been explained as part of the variance analysis where relevant.
The actuals are prepared in accordance with Australian Accounting Standards.
Explanations have been provided where movements are greater than 10% of the line item and/or 2% of total income or expense unless the movement is clearly trivial.
Departmental major budget variances for 2020
Explanations of major variances | Affected line items (and statement) | |||||
Employee benefits | ||||||
Increase in employee benefits expense mainly relates to (i) the recalculation of Long Service Leave provisions at balance date due to a change in Government bond rate and (ii) an additional PSS employer superannuation lump sum contribution, not estimated at budget. | Employee benefits (Statement of Comprehensive Income) and Employee Provisions (Statement of Financial Position). | |||||
Suppliers | ||||||
Supplier expense were lower than that estimated at budget mainly as a result (i) the transition to AASB 16 Leases, effective 1 January 2019, the budget estimates were updated to reflect this standard in the subsequent budget rounds. and (ii) reduced travel and other running costs as a result of COVID-19. | Suppliers expense (Statement of Comprehensive Income) and Operating Cash Used - Suppliers (Cash Flow Statement). | |||||
Depreciation | ||||||
The variance relates to an increase in building depreciation expense as a result of (i) an increase in building value, not estimated at budget and (ii) the transition to AASB 16 Leases, effective 1 January 2019, the budget estimates were updated to reflect this standard in the subsequent budget rounds. | Depreciation expense (Statement of Comprehensive Income), Land and Building (Statement of Financial Position). | |||||
Own source revenue | ||||||
Overall, the increase in sale of goods and rendering of services revenue relates to the Australian Clinical Dosimetry Service, including additional revenue associated with one-off installation audits. In relation to licence fees, actual income was lower than that estimated at budget. | Total own source revenue (Statement of Comprehensive Income), Operating cash received - sale of goods and rendering of services (Cash Flow Statement). | |||||
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