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Note 1 - Financial Performance

1.1 Expenses

2020

2019

$’000

$’000

1.1A: Employee benefits

Wages and salaries

(12,139)

(12,018)

Superannuation

Defined contribution plans

(1,531)

(1,299)

Defined benefit plans

(572)

(768)

Leave and other entitlements

(1,313)

(1,572)

Separation and redundancies

(317)

(248)

Other Employee Expenses

(106)

(124)

Total employee benefits

(15,978)

(16,029)

Accounting Policy

Accounting policies for employee related expenses is contained in the People and Relationships section.

1.1B: Suppliers

Goods and services supplied or rendered

Investigation services

( 3,887)

( 3,797)

Information technology

( 1,659)

( 1,551)

Services from the Department of Infrastructure, Transport, Regional Development and Communications

( 479)

( 531)

Contracted Services

( 478)

( 809)

Travel

( 384)

( 651)

Training and conferences

( 257)

( 186)

Communications

( 162)

( 216)

Audit fees

(104)

(91)

Office rent1

( 30)

( 1,663)

Publications and printing

(33)

(62)

Consultants

(22)

(52)

Legal

(16)

(20)

Other

(254)

(239)

Total goods and services supplied or rendered

(7,765)

(9,867)

Goods supplied

(149)

(131)

Services rendered

(7,616)

(9,736)

Total goods and services supplied or rendered

(7,765)

(9,867)

Other suppliers

Workers compensation expenses

(106)

(192)

Total other suppliers

(106)

(192)

Total suppliers

(7,871)

(10,059)

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

The ATSB does not have any short-term or low-value lease commitments as at 30 June 2020.

The above lease disclosures should be read in conjunction with the accompanying notes 1.1C, 1.2C, 2.2 and 3.2.

Accounting Policy

Short-term leases and leases of low-value assets

The ATSB has elected not to recognise right-of-use assets and lease liabilities for short-term leases of assets that have a lease term of 12 months or less and leases of low-value assets (less than $10,000). The ATSB recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term.

2020

2019

$’000

$’000

1.1C: Finance costs

Finance lease1

-

(6)

Interest on lease liabilities

(102)

-

Total finance costs

(102)

(6)

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

The above lease disclosures should be read in conjunction with the accompanying notes 1.1B, 1.2C, 2.2 and 3.2.

Accounting Policy

All borrowing costs are expensed as incurred.

1.1D: Write-down and impairment of other assets

Impairment of property, plant and equipment

(5)

(15)

Impairment of non-current assets held for sale

(2)

-

Total write-down and impairment of other assets

(7)

(15)

1.2 Own-Source Revenue and gains

2020

2019

$’000

$’000

Own-Source Revenue

1.2A: Revenue from contracts with customers

Rendering of services

1,184

1,540

Total revenue from contracts with customers

1,184

1,540

Accounting Policy

Revenue from the sale of goods is recognised when control has been transferred to the buyer.

The ATSB has recognised AASB15 and AASB 1058 with an initial application date of 1 July 2019, using the modified retrospective option, where comparatives for 2019 have not been restated.

AASB 15 has been applied to all new and uncompleted contracts from the date of initial application.

The following is a description of principal activities from which the ATSB generates its revenue:

● Government appropriations

● International programmes of work

● Cost recovery rail investigations

ATSB's revenue in relation to its international programmes and cost recovery activities are agreement based and within scope for AASB 15. There are separate agreements, with separate terms, based on performance over time obligations and point in time obligations.

The transaction price is the total amount of consideration to which the ATSB expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both.

Receivables for goods and services, which have 30 day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at end of the reporting period. Allowances are made when collectability of the debt is no longer probable.

1.2B: Other revenue

Resources received free of charge

Remuneration of auditors1

51

51

Investigation Services

3,781

3,681

Other

11

680

Total other revenue

3,843

4,412

1. The ANAO does not provide any other services other than an audit of the Financial Statements.

Accounting Policy

Resources Received Free of Charge

Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature.

Gains

1.2C: Other gains

Sale proceeds

3

2

Total other gains

3

2

Accounting Policy

Sale of Assets

Gains from disposal of assets are recognised when control of the asset has passed to the buyer.

1.2D: Revenue from government

Appropriations

Departmental appropriations

20,205

20,244

Total revenue from Government

20,205

20,244

Accounting Policy

Revenue from Government

Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as Revenue from Government when the ATSB gains control of the appropriation, except for certain amounts relating to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts.