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Statement of Financial Position

for the year ended 30 June 2021

2021

2020

Original Budget

Note

$'000

$'000

$'000

ASSETS

Financial assets

Cash

3A

48,996

36,126

36,184

Trade and other receivables

3B

668,862

543,066

468,490

Total financial assets

717,858

579,192

504,674

Non-financial assets1

Buildings

4A

995,411

1,113,933

939,211

Buildings - leasehold improvements

4A

148,177

154,094

164,720

Plant and equipment

4A

100,065

46,644

51,398

Intangibles - computer software

4A

490,055

501,449

598,121

Other non-financial assets

4B

74,088

53,324

4,524

Total non-financial assets

1,807,796

1,869,444

1,757,974

Total assets

2,525,654

2,448,636

2,262,648

LIABILITIES

Payables

Employees

5A

42,557

34,359

39,987

Suppliers

5B

254,968

284,870

241,324

Other payables

5C

4,981

3,453

3,454

Total payables

302,506

322,682

284,765

Interest bearing liabilities

Leases

6A

1,115,303

1,172,963

1,014,059

Total interest bearing liabilities

1,115,303

1,172,963

1,014,059

Provisions

Employee provisions

7A

778,962

752,319

727,857

Other provisions

7B

19,045

12,505

9,439

Total provisions

798,007

764,824

737,296

Total liabilities

2,215,816

2,260,469

2,036,120

Net assets

309,838

188,167

226,528

EQUITY

Contributed equity

2,112,114

1,897,779

2,142,671

Reserves

123,154

123,183

122,807

Accumulated deficit

(1,925,430)

(1,832,795)

(2,038,950)

Total equity

309,838

188,167

226,528

1.Right-of-use assets are included in the following line items:

- Buildings

- Plant and equipment

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

Budget variances commentary: Statement of financial position

Affected line items

Explanation of major variances

Cash

The higher than expected actual is primarily due to timing differences in cash receipts and payments.

Trade and other receivables

The higher than budgeted actual is the result of underspends across both operating and capital appropriations. This has been driven by delayed and/or reduced compliance, debt and litigation activities.

Buildings

The higher than budgeted actual is primarily driven by the recognition of two new property leases not anticipated when the budget was prepared.

Buildings – leasehold improvements

The lower than budgeted actual is primarily driven by lower asset additions caused by delays in major property projects due to COVID-19 restrictions.

Plant and equipment

The higher than budgeted actual is primarily driven by the recognition of right-of-use assets related to a new significant IT lease contract.

Intangibles - computer software

The lower than expected actual is primarily driven by lower than anticipated asset additions in relation to computer software projects while the ATO supported the Government’s response to the COVID-19 pandemic.

Other non-financial assets

The higher than expected actual is primarily driven by a small number of large prepayments made during the year.

Suppliers

The higher than expected actual is primarily due to higher than expected trade creditors and accruals due to pending payments for services provided on behalf of the ATO.

Leases

The higher than expected actual is primarily due to the recognition of two new property leases and a new significant IT lease contract.

Employee provisions

The higher than expected actual is a result of historically low amounts of leave taken by staff during the COVID-19 pandemic.

Other provisions

The higher than expected actual is primarily driven by a new restoration and makegood requirement as part of a new significant IT lease contract.

Equity

The budgeted equity balances did not account for an operating surplus or appropriation reductions associated with unspent funding subsequently returned to Government.