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Statement of comprehensive income

for the period ended 30 June 2020

Original budget

2020

2019

2020

Notes

$

$

$

NET COST OF SERVICES

Expenses

Employee benefits

1.1A

17,661,916

17,254,317

16,890,000

Suppliers

1.1B

7,002,254

7,122,586

8,471,000

Depreciation and amortisation

2.2A

3,437,020

2,915,497

2,570,000

Finance costs

1.1C

9,466

0

0

Impairment loss on financial instruments

1.1D

8,764

1,741

0

Write-down and impairment of other assets

1.1E

130,876

33,612

0

Losses from asset sales

1.1F

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

1.2A

7,940,231

7,628,374

7,300,000

Licence fees

1.2B

5,081,276

4,387,920

5,314,000

Other revenue

1.2C

54,000

54,000

0

Total own-source revenue

13,075,507

12,070,294

12,614,000

Gains

Foreign exchange gains

1.2D

1,021

278

0

Reversal of write-downs and impairment

1.2E

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

1.2F

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).