Statement of Financial Position
as at 30 June 2019
2019 |
2018 |
Original Budget |
||||
---|---|---|---|---|---|---|
Note |
$'000 |
$'000 |
$'000 |
|||
ASSETS |
||||||
Financial Assets |
||||||
Cash |
45,368 |
28,944 |
22,614 |
|||
Trade and other receivables |
354,620 |
463,812 |
443,344 |
|||
Total financial assets |
399,988 |
492,756 |
465,958 |
|||
Non-Financial Assets |
||||||
Buildings - leasehold improvements |
173,318 |
195,175 |
197,278 |
|||
Plant and equipment |
58,973 |
73,017 |
63,739 |
|||
Intangibles - computer software |
502,278 |
520,746 |
479,348 |
|||
Other non-financial assets |
98,482 |
89,544 |
79,323 |
|||
Total non-financial assets |
833,051 |
878,482 |
819,688 |
|||
Total assets |
1,233,039 |
1,371,238 |
1,285,646 |
|||
LIABILITIES |
||||||
Payables |
||||||
Employee benefits |
35,987 |
44,529 |
18,544 |
|||
Suppliers |
325,516 |
384,402 |
294,747 |
|||
Other payables |
69,598 |
84,619 |
66,873 |
|||
Total payables |
431,101 |
513,550 |
380,164 |
|||
Interest Bearing Liabilities |
||||||
Leases |
7,232 |
10,859 |
- |
|||
Total interest bearing liabilities |
7,232 |
10,859 |
- |
|||
Provisions |
||||||
Employee provisions |
697,370 |
672,872 |
693,834 |
|||
Other provisions |
29,831 |
29,881 |
24,854 |
|||
Total provisions |
727,201 |
702,753 |
718,688 |
|||
Total liabilities |
1,165,534 |
1,227,162 |
1,098,852 |
|||
Net assets |
67,505 |
144,076 |
186,794 |
|||
EQUITY |
||||||
Contributed equity |
1,706,580 |
1,550,110 |
1,749,827 |
|||
Reserves |
123,220 |
115,401 |
115,518 |
|||
Accumulated deficit |
(1,762,295) |
(1,521,435) |
(1,678,551) |
|||
Total equity |
67,505 |
144,076 |
186,794 |
Budget Variances Commentary : Statement of Financial Position
Affected line items |
Explanation of major variances |
---|---|
Cash |
The actual was higher than budgeted primarily due to timing differences in cash receipts and payments. |
Trade and other receivables |
The lower than budgeted actual is primarily driven by a lower than expected appropriation receivable aligned with the timing of payment for goods and services. |
Buildings - leasehold improvements |
Lower than budgeted Buildings - leasehold improvements is due to delays in property works approvals, resulting in lower than expected asset additions. |
Intangibles - computer software |
Higher than budgeted Intangibles - computer software is driven by higher than expected asset additions in relation to high priority IT system builds. |
Other non-financial assets |
The higher than budgeted actual for Other non-financial assets is primarily driven by higher than expected prepayments in relation to IT licenses. |
Employee benefits |
The higher than budgeted employee benefits payable is driven by higher than expected separation and redundancies towards the end of the financial year. |
Suppliers |
The higher than budgeted suppliers payables is primarily driven by higher than expected trade creditors and accruals due to pending payments for services provided on behalf of the ATO. |
Other provisions |
The higher than budgeted actual is largely driven by additional provisions for legal costs and indemnities for unforeseen cases not factored into the budget. |
Equity |
The budgeted equity balances did not account for an operating deficit, asset revaluations or subsequent appropriation reductions associated with the repeal of a number of appropriation acts related to prior years. |
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https://www.transparency.gov.au/annual-reports/australian-taxation-office/reporting-year/2018-2019-27