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Statement of Financial Position Current Report Period (2019–20)

Notes

30 June 2020

30 June 2019

Original

Budget

30 June 2020

$'000

$'000

$'000

Assets

Financial assets

Cash and cash equivalents

2.1A

0

707

2,455

Trade and other receivables

2.1B

1,111

3,893

4,163

Total financial assets

1,111

4,600

6,618

Non-financial assets

Buildings

2.2A

15,448

2,749

1,144

Plant and equipment

2.2A

435

395

439

Computer software

2.2A

2,073

495

1,364

Inventories

2.2B

213

136

102

Other non-financial assets

2.2C

120

243

45

Total non-financial assets

18,289

4,018

3,094

Total assets

19,400

8,618

9,712

Liabilities

Payables

Suppliers

2.3A

990

1,026

1,930

Other payables

2.3B

215

285

235

Lease liabilities1

9,739

0

0

Total payables

10,944

1,311

2,165

Provisions

Employee provisions

4.1A

2,870

2,688

2,165

Total provisions

2,870

2,688

2,165

Total liabilities

13,814

3,999

4,330

Net assets

5,586

4,619

5,382

Equity

Contributed equity

5,920

4,788

5,920

Reserves

461

253

253

Accumulated deficit

(795)

(422)

(791)

Total equity

5,586

4,619

5,382

1ASADA applied AASB 16 Leases using the modified retrospective approach and therefore the comparative information has not been restated and continues to be reported under AASB 117.

The above statement should be read in conjunction with the accompanying notes.

Right-of-use assets are included in Buildings.

Budget variances commentary

Statement of Financial Position

  1. Cash on hand at the end of the financial year was lower than budget due to the closing of the ASADA bank accounts on 30 June, with balances transferred to the Consolidated Revenue Fund until opening of Sport Integrity Australia bank accounts on 1 July 2020. The balance of the account is reflected in the appropriation note.
  2. Due to the reduced activity of the agency and the sporting industry as a result of COVID-19, receivables were lower than budget.
  3. The variance from budget in non-financial assets relates to the cost of the new office fitout, significant investment in IT assets, and the effect of bringing to account the 10 year accommodation lease onto the balance sheet as a result of implementing AASB16 Leases. These items were not included in the original budget.
  4. Supplier payables was lower than budget due to reduced activity associated with COVID-19, particularly travel suppliers.
  5. Lease liabilities were higher than budget due to the impact of implementing AASB 16 Leases with recognition of the 10 year lease liability on the balance sheet.
  6. Employee provisions were higher than budget due to leave and salaries costs for additional staff not included in the budget, along with the impact of movements in the 10 year Government bond rate.