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Statement of Comprehensive Income

for the year ended 30 June 2021

2021

2020

Original budget

Note

$'000

$'000

$'000

NET COST OF SERVICES

Expenses

Employee benefits

1A

2,042,169

1,963,803

2,109,573

Suppliers

1B

1,581,329

1,424,259

1,690,090

Depreciation and amortisation

4A

384,843

394,537

415,853

Finance costs

1C

12,126

13,688

12,692

Write-down and impairment of other assets

1E

196

4,753

-

Other expenses

1F

337

613

-

Total expenses

4,021,000

3,801,653

4,228,208

Own-source revenue

Rendering of services

2A

71,699

89,016

105,819

Rental income

2B

16,409

16,859

17,972

Other revenue and gains

2C

7,498

15,210

12,733

Impairment gain on financial instruments

1D

948

1,869

-

Total own-source revenue

96,554

122,954

136,524

Net cost of services

(3,924,446)

(3,678,699)

(4,091,684)

Revenue from the Australian Government

2D

3,831,811

3,461,261

3,885,177

Deficit on continuing operations

(92,635)

(217,438)

(206,507)

OTHER COMPREHENSIVE LOSS

Items not subject to subsequent reclassification to net cost of services

Revaluation of restoration obligations provision

(29)

(84)

-

Total other comprehensive loss

(29)

(84)

-

Total comprehensive loss

(92,664)

(217,522)

(206,507)

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

Budget variances commentary: Statement of comprehensive income

Affected line items

Explanation of major variances

Employee benefits

The lower than expected actual is primarily driven by a lower than anticipated Average Staffing Level (ASL) combined with lower than anticipated average staff cost due to higher intake of entry level employees.

Suppliers

The lower than expected actual is primarily driven by a reduction in credit card merchant fee expense resulting from increased payment deferrals and reduced debt collection activities during the COVID-19 pandemic and lower than expected expenditure in support of the Government stimulus measures.

Depreciation and amortisation

The lower than expected actual is primarily driven by lower than anticipated asset additions in relation to computer software projects and delays in major property projects due to COVID-19 restrictions.

Rendering of services

The lower than expected actual is primarily driven by reduced credit card merchant fee revenue resulting from increased payment deferrals and reduced debt collection activities during the COVID-19 pandemic.

Other revenue and gains

The lower than expected actual is primarily driven by lower revenue from court award costs as a result of reduced compliance activities and litigation in response to the 2019 bushfires and COVID-19 pandemic.

Revenue from the Australian Government

The lower than expected actual is the result of a return of funding due to lower than expected expenditure in support of the Government stimulus measures.