Note 1 - Financial Performance
1.1 Expenses | ||
2021 | 2020 | |
$’000 | $’000 | |
1.1A: Employee benefits | ||
Wages and salaries | 12,187 | 12,139 |
Superannuation | ||
Defined contribution plans | 1,744 | 1,531 |
Defined benefit plans | 393 | 572 |
Leave and other entitlements | 1,309 | 1,313 |
Separation and redundancies | 237 | 317 |
Other Employee Expenses | 102 | 106 |
Total employee benefits | 15,972 | 15,978 |
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 | 3291 | 3887 |
Information technology | 1903 | 1659 |
Services from the Department of Infrastructure, Transport, Regional Development and Communications | 487 | 479 |
Contracted Services | 318 | 478 |
Travel | 120 | 384 |
Training and conferences | 149 | 257 |
Communications | 168 | 162 |
Audit fees | 82 | 104 |
Office rent 1 | 35 | 30 |
Publications and printing | 17 | 33 |
Consultants | 296 | 22 |
Legal | 25 | 16 |
Other | 227 | 254 |
Total goods and services supplied or rendered | 7,118 | 7,765 |
Goods supplied | 222 | 149 |
Services rendered | 6,896 | 7,616 |
Total goods and services supplied or rendered | 7,118 | 7,765 |
Other suppliers | ||
Workers compensation expenses | 90 | 106 |
Total other suppliers | 90 | 106 |
Total suppliers | 7,208 | 7,871 |
1 The ATSB does not have any short-term or low-value lease commitments as at 30 June 2021. | ||
The above lease disclosures should be read in conjunction with the accompanying notes 1.1C, 1.2C, 2.2 and 3.2. | ||
1.1 Expenses (continued) | ||
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. | ||
2021 | 2020 | |
$’000 | $’000 | |
1.1C: Finance costs | ||
Interest on lease liabilities | 86 | 102 |
Total finance costs | 86 | 102 |
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 | 119 | 5 |
Impairment of non-current assets held for sale | - | 2 |
Total write-down and impairment of other assets | 119 | 7 |
2021 | 2020 | |
$’000 | $’000 | |
Own-Source Revenue | ||
1.2A: Revenue from contracts with customers | ||
Rendering of services | 1,121 | 1,184 |
Total revenue from contracts with customers | 1,121 | 1,184 |
Accounting Policy | ||
Revenue from the sale of goods is recognised when control has been transferred to the buyer. | ||
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 | ||
The 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 auditors 1 | 51 | 51 |
Investigation Services | 3,229 | 3,781 |
Other | - | 11 |
Total other revenue | 3,280 | 3,843 |
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. | ||
1.2 Own-Source Revenue and gains (continued) | ||
2021 | 2020 | |
$’000 | $’000 | |
Gains | ||
1.2C: Other gains | ||
Sale proceeds | 4 | 3 |
Total other gains | 4 | 3 |
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 | ||
Departmental appropriations | 20,933 | 20,205 |
Total revenue from Government | 20,933 | 20,205 |
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. | ||
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