Cash flow statement
for the period ended 30 June 2020
Original budget | ||||
2020 | 2019 | 2020 | ||
Notes | $ | $ | $ | |
OPERATING ACTIVITIES | ||||
Cash received | ||||
Appropriations | 11,533,000 | 12,544,000 | 12,747,000 | |
Sales of goods and rendering of services | 8,688,615 | 8,260,087 | 7,723,000 | |
Other cash received | 5,081,276 | 4,387,920 | 5,314,000 | |
GST received | 10,936 | 548,069 | 462,000 | |
Total cash received | 25,313,827 | 25,740,076 | 26,246,000 | |
Cash used | ||||
Employees | (17,074,682) | (16,944,928) | (16,890,000) | |
Suppliers | (8,181,211) | (8,692,624) | (8,933,000) | |
Interest payments on lease liabilities | (9,466) | 0 | 0 | |
GST paid | 0 | 0 | (423,000) | |
Total cash used | (25,265,359) | (25,637,552) | (26,246,000) | |
Net cash (used by) / from operating activities | 48,468 | 102,524 | 0 | |
INVESTING ACTIVITIES | ||||
Cash used | ||||
Purchase of property, plant, equipment and intangibles | (1,385,809) | (5,986,876) | (1,949,000) | |
Total cash used | (1,385,809) | (5,986,876) | (1,949,000) | |
Net cash (used by) investing activities | (1,385,809) | (5,986,876) | (1,949,000) | |
FINANCING ACTIVITIES | ||||
Cash received | ||||
Contributed equity - Departmental capital budget | 1,420,000 | 2,330,000 | 1,949,000 | |
Contributed equity - Equity injection | 0 | 3,800,000 | 0 | |
Total cash received | 1,420,000 | 6,130,000 | 1,949,000 | |
Cash used | ||||
Principal payments of lease liabilities | (236,522) | 0 | 0 | |
Total cash used | (236,522) | 0 | 0 | |
Net cash (used by) / from financing activities | 1,183,478 | 6,130,000 | 1,949,000 | |
Net (decrease) / increase in cash held | (153,863) | 245,648 | 0 | |
Cash and cash equivalents at the beginning of the reporting period | 1,346,091 | 1,100,443 | 1,100,000 | |
Cash and cash equivalents at the end of the reporting period | 1,192,228 | 1,346,091 | 1,100,000 |
The above statement should be read in conjunction with the accompanying notes.
Budget variances commentary
Cash flow statement
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 cash received or used unless the movement is clearly trivial.
Departmental major budget variances for 2020
Explanations of major variances | Affected line items (and statement) | |||||
Variances relating to cash flows occur because of the factors detailed under expenses, own source income, assets or liabilities. | Operating, Investing, Financing activities (Cash Flow statement) | |||||
Investing activities - cash used | ||||||
The decrease in expenditure related to delays in finalisation of capital projects and receipt of ordered equipment. | Investing, Financing activities (Cash Flow statement) | |||||
Financing activities - contributed equity | ||||||
Variance for the current year relates to lower than estimated drawdowns due to the delays in capital expenditure. | Financing activities (Cash Flow statement), Buildings (Statement of Financial Position) | |||||
Financing activities - payments of lease liabilities | ||||||
The variance relates to the transition to AASB 16 Leases, effective 1 January 2019, the budget estimates were updated to reflect this standard in the subsequent budget rounds. | Financing activities (Cash Flow statement), Trade and other receivables (Statement of Financial Position) | |||||
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