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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

2.1A

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)