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Statement of financial position

as at 30 June 2020

Original budget

2020

2019

2020

Notes

$

$

$

ASSETS

Financial assets

Cash and cash equivalents

2.1A

1,192,228

1,346,091

1,100,000

Trade and other receivables

2.1B

4,125,923

2,263,434

6,640,000

Other financial assets

2.1C

42,534

559,134

131,000

Total financial assets

5,360,685

4,168,659

7,871,000

Non-financial asset1

Land

2.2A

9,460,000

9,750,000

10,500,000

Buildings

2.2A

18,195,538

18,349,717

17,512,000

Leasehold improvements

2.2A

0

74,442

0

Plant and equipment

2.2A

9,755,444

10,343,582

5,590,000

Intangibles

2.2A

595,338

959,616

1,481,000

Inventories

2.2B

1,609,559

1,488,404

1,389,000

Other non-financial assets

2.2C

509,910

427,606

586,000

Total non-financial assets

40,125,789

41,393,367

37,058,000

Total assets

45,486,474

45,562,026

44,929,000

LIABILITIES

Payables

Suppliers

2.3A

743,736

756,002

879,000

Other payables

2.3B

793,046

1,302,834

1,577,000

Total payables

1,536,782

2,058,836

2,456,000

Interest bearing liabilities

Leases

2.4

412,036

0

0

Total interest bearing liabilities

412,036

0

0

Provisions

Employee provisions

4.1

5,307,070

4,864,862

4,564,000

Total provisions

5,307,070

4,864,862

4,564,000

Total liabilities

7,255,888

6,923,698

7,020,000

Net assets

38,230,586

38,638,328

37,909,000

EQUITY

Contributed equity

32,455,000

30,506,000

32,455,000

Reserves

19,574,819

19,514,793

19,477,000

Accumulated deficit

(13,799,233)

(11,382,465)

(14,023,000)

Total equity

38,230,586

38,638,328

37,909,000

Budget variances commentary

Statement of Financial Position

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 assets or liabilities unless the movement is clearly trivial.

Departmental major budget variances for 2020

Explanations of major variances

Affected line items (and statement)

Financial assets

Trade and other receivables

The variance relates to the difference in the actual and budget appropriation receivable. Additional prior year appropriation was drawndown in 2019, after preparation of the budget.

Trade and other receivables (Statement of Financial Position)and Operating cash received -Appropriations (Cash Flow Statement).

Other financial assets

Actual accrued revenue was lower than forecast at budget.

Other financial assets (Statement of Financial Position) and Total own source revenue (Statement of Comprehensive Income),

Non-financial assets

Land and buildings

The variance relates (i) to the independent revaluation of land and buildings in 2020 and 2019, since the budget was prepared, 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.

Land and buildings and Reserves (Statement of Financial Position).

Plant and equipment

The variance relates to the difference in the actual and budgeted plant and equipment expenditure. Additional expenditure was incurred in 2019, after preparation of the budget.

Plant and equipment (Statement of Financial Position) and Investing cash used -purchase of property plant and equipment (Cash Flow Statement).

Intangibles

The variance relates to a reprioritisation of digital investment away from software toward refreshing the core infrastructure

Intangibles and trade and other receivables (Statement of Financial Position) and Investing cash used -purchase of property plant and equipment (Cash Flow Statement).

Payables

Suppliers and other payables

Actual trade creditors and unearned revenue associated with the Australian Clinical Dosimetry Service were lower than that budgeted.

Payables (Statement of Financial Position). Suppliers expense and Total own source revenue (Statement of Comprehensive Income)