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Statement of Financial Position

as at 30 June 2019

2019

2018

Original Budget

Note

$'000

$'000

$'000

ASSETS

Financial Assets

Cash

3A

45,368

28,944

22,614

Trade and other receivables

3B

354,620

463,812

443,344

Total financial assets

399,988

492,756

465,958

Non-Financial Assets

Buildings - leasehold improvements

4A

173,318

195,175

197,278

Plant and equipment

4A

58,973

73,017

63,739

Intangibles - computer software

4A

502,278

520,746

479,348

Other non-financial assets

4B

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

5A

35,987

44,529

18,544

Suppliers

5B

325,516

384,402

294,747

Other payables

5C

69,598

84,619

66,873

Total payables

431,101

513,550

380,164

Interest Bearing Liabilities

Leases

6

7,232

10,859

-

Total interest bearing liabilities

7,232

10,859

-

Provisions

Employee provisions

7A

697,370

672,872

693,834

Other provisions

7B

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.