Primary financial statements
STATEMENT OF COMPREHENSIVE INCOME for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
Original Budget 2019 $’000 |
||
|---|---|---|---|---|
|
NET COST OF SERVICES |
||||
|
Expenses |
||||
|
Employee benefits |
186,693 |
177,857 |
176,341 |
|
|
Suppliers |
123,110 |
111,794 |
121,934 |
|
|
Depreciation and amortisation |
93,696 |
90,926 |
83,169 |
|
|
Finance costs - unwinding of discount |
224 |
426 |
- |
|
|
Impairment loss on financial instruments |
43 |
3 |
- |
|
|
Write-down and impairment of other assets |
174 |
10,107 |
1 |
|
|
Foreign exchange losses |
205 |
121 |
- |
|
|
Loss from sale of assets |
374 |
- |
- |
|
|
Contributions to WMO and IOC1 |
2,425 |
2,497 |
1,943 |
|
|
Total expenses |
406,944 |
393,731 |
383,388 |
|
|
Own-Source Income |
||||
|
Own-source revenue |
||||
|
Sale of goods and rendering of services |
88,576 |
77,434 |
77,844 |
|
|
Other revenue |
392 |
4,797 |
- |
|
|
Total own-source revenue |
88,968 |
82,231 |
77,844 |
|
|
Gains |
||||
|
Reversal of impairment of other assets |
4,143 |
- |
- |
|
|
Gains from sale of assets |
- |
- |
209 |
|
|
Foreign exchange gains |
86 |
101 |
- |
|
|
Total gains |
4,229 |
101 |
209 |
|
|
Total own-source income |
93,197 |
82,332 |
78,053 |
|
|
Net cost of services |
(313,747) |
(311,399) |
(305,335) |
|
|
Revenue from Government |
231,658 |
230,389 |
229,296 |
|
|
Deficit |
(82,089) |
(81,010) |
(76,039) |
|
|
OTHER COMPREHENSIVE INCOME |
||||
|
Total other comprehensive income |
- |
- |
- |
|
|
Total comprehensive loss |
(82,089) |
(81,010) |
(76,039) |
1. Contributions to World Meteorological Organization (WMO) and Inter-Governmental Oceanographic Commission (IOC).
The budget variances commentary is contained in the Other Information section (note 7.1).
The above statement should be read in conjunction with the accompanying notes.
STATEMENT OF FINANCIAL POSITION as at 30 June 2019
|
2019 $’000 |
2018 $’000 |
Original Budget 2019 $’000 |
||
|---|---|---|---|---|
|
ASSETS |
||||
|
Financial Assets |
||||
|
Cash and cash equivalents |
813 |
722 |
5,742 |
|
|
Trade and other receivables |
178,511 |
144,121 |
96,536 |
|
|
Accrued revenues |
3,622 |
4,652 |
1,488 |
|
|
Total financial assets |
182,946 |
149,495 |
103,766 |
|
|
Non-Financial Assets |
||||
|
Land |
11,795 |
12,235 |
- |
|
|
Buildings |
78,182 |
83,561 |
94,483 |
|
|
Plant and equipment |
349,076 |
345,953 |
477,806 |
|
|
Computer software |
130,064 |
103,378 |
101,202 |
|
|
Other intangibles |
6 |
8 |
- |
|
|
Heritage and cultural |
1,212 |
1,212 |
- |
|
|
Inventories |
5,825 |
6,635 |
6,029 |
|
|
Prepayments |
10,337 |
8,587 |
9,389 |
|
|
Total non-financial assets |
586,497 |
561,569 |
688,909 |
|
|
Assets held for sale |
4,073 |
5,737 |
- |
|
|
Total assets |
773,516 |
716,801 |
792,675 |
|
|
LIABILITIES |
||||
|
Payables |
||||
|
Suppliers |
26,613 |
29,235 |
21,334 |
|
|
Other payables and liabilities |
64,652 |
56,686 |
39,746 |
|
|
Total payables |
91,265 |
85,921 |
61,080 |
|
|
Provisions |
||||
|
Employee provisions |
68,917 |
66,666 |
69,202 |
|
|
Provisions for restoration |
24,555 |
24,105 |
23,315 |
|
|
Total provisions |
93,472 |
90,771 |
92,517 |
|
|
Total liabilities |
184,737 |
176,692 |
153,597 |
|
|
Net assets |
588,779 |
540,109 |
639,078 |
|
|
EQUITY |
||||
|
Contributed equity |
923,315 |
790,361 |
958,536 |
|
|
Reserves |
275,144 |
275,144 |
275,144 |
|
|
Accumulated deficit |
(609,680) |
(525,396) |
(594,602) |
|
|
Total equity |
588,779 |
540,109 |
639,078 |
The budget variances commentary is contained in the Other Information section (note 7.1).
The above statement should be read in conjunction with the accompanying notes.
Accounting Policy
Cash and cash equivalents
Cash is recognised at its nominal amount. Cash and cash equivalent includes cash on hand or on deposit.
STATEMENT OF CHANGES IN EQUITY for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
Original Budget 2019 $’000 |
|
|---|---|---|---|
|
CONTRIBUTED EQUITY |
|||
|
Opening balance |
|||
|
Balance carried forward from previous period |
790,361 |
705,811 |
782,507 |
|
Adjusted opening balance |
790,361 |
705,811 |
782,507 |
|
Transactions with owners |
|||
|
Distributions to owners |
|||
|
Returns of capital |
|||
|
Return of equity appropriations |
(38) |
(3,146) |
- |
|
Contributions by owners |
|||
|
Equity injection - appropriations |
92,297 |
39,585 |
135,334 |
|
Departmental capital budget |
40,695 |
48,111 |
40,695 |
|
Total transactions with owners |
132,954 |
84,550 |
176,029 |
|
Closing balance as at 30 June |
923,315 |
790,361 |
958,536 |
|
RETAINED EARNINGS |
|||
|
Opening balance |
|||
|
Balance carried forward from previous period |
(525,396) |
(444,386) |
(518,237) |
|
Adjusted opening balance |
(525,396) |
(444,386) |
(518,237) |
|
Comprehensive income |
|||
|
Deficit for the period |
(82,089) |
(81,010) |
(76,039) |
|
Total comprehensive income |
(82,089) |
(81,010) |
(76,039) |
|
Transactions with owners |
|||
|
Contributions by owners |
|||
|
Other |
(2,195) |
- |
(326) |
|
Total transactions with owners |
(2,195) |
- |
(326) |
|
Closing balance as at 30 June |
(609,680) |
(525,396) |
(594,602) |
|
ASSET REVALUATION RESERVE |
|||
|
Opening balance |
|||
|
Balance carried forward from previous period |
275,144 |
275,144 |
275,144 |
|
Adjusted opening balance |
275,144 |
275,144 |
275,144 |
|
Comprehensive income |
|||
|
Total comprehensive income |
- |
- |
- |
|
Closing balance as at 30 June |
275,144 |
275,144 |
275,144 |
STATEMENT OF CHANGES IN EQUITY for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
Original Budget 2019 $’000 |
|
|---|---|---|---|
|
TOTAL EQUITY |
|||
|
Opening balance |
|||
|
Balance carried forward from previous period |
540,109 |
536,569 |
539,414 |
|
Adjusted opening balance |
540,109 |
536,569 |
539,414 |
|
Comprehensive income |
|||
|
Deficit for the period |
(82,089) |
(81,010) |
(76,039) |
|
Total comprehensive income |
(82,089) |
(81,010) |
(76,039) |
|
Transactions with owners |
|||
|
Distributions to owners |
|||
|
Returns of capital |
|||
|
Return of equity appropriations |
(38) |
(3,146) |
- |
|
Other |
(2,195) |
- |
(326) |
|
Contributions by owners |
|||
|
Equity injection - appropriations |
92,297 |
39,585 |
135,334 |
|
Departmental capital budget |
40,695 |
48,111 |
40,695 |
|
Total transactions with owners |
130,759 |
84,550 |
175,703 |
|
Closing balance as at 30 June |
588,779 |
540,109 |
639,078 |
The budget variances commentary is contained in the Other Information section (note 7.1).
The above statement should be read in conjunction with the accompanying notes.
Accounting Policy
Equity Injections
Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs), are recognised directly in contributed equity in that year.
Other Distributions to Owners
Distributions to owners are debited to contributed equity unless it is in the nature of a dividend.
CASH FLOW STATEMENT for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
Original Budget 2019 $’000 |
||
|---|---|---|---|---|
|
OPERATING ACTIVITIES |
||||
|
Cash received |
||||
|
Appropriations |
350,934 |
304,499 |
306,064 |
|
|
Sales of goods and rendering of services |
109,741 |
96,641 |
77,843 |
|
|
Net GST received |
10,225 |
7,913 |
- |
|
|
Other |
- |
- |
(1) |
|
|
Total cash received |
470,900 |
409,053 |
383,907 |
|
|
Cash used |
||||
|
Employees |
(187,728) |
(184,509) |
(175,591) |
|
|
Suppliers |
(155,275) |
(121,739) |
(121,934) |
|
|
Section 74 receipts transferred to OPA |
(104,611) |
(91,552) |
(77,844) |
|
|
Other |
(2,195) |
- |
(1,943) |
|
|
Total cash used |
(449,809) |
(397,800) |
(377,312) |
|
|
Net cash from operating activities |
21,091 |
11,253 |
6,595 |
|
|
INVESTING ACTIVITIES |
||||
|
Cash received |
||||
|
Proceeds from sales of property, plant and equipment |
2,263 |
- |
3,291 |
|
|
Total cash received |
2,263 |
- |
3,291 |
|
|
Cash used |
||||
|
Purchase of property, plant and equipment and intangibles |
(105,550) |
(82,206) |
(182,964) |
|
|
Total cash used |
(105,550) |
(82,206) |
(182,964) |
|
|
Net cash used by investing activities |
(103,287) |
(82,206) |
(179,673) |
|
|
FINANCING ACTIVITIES |
||||
|
Cash received |
||||
|
Departmental capital budget |
40,695 |
48,619 |
- |
|
|
Contributed equity |
41,592 |
22,805 |
176,029 |
|
|
Total cash received |
82,287 |
71,424 |
176,029 |
|
|
Net cash from financing activities |
82,287 |
71,424 |
176,029 |
|
|
Net increase/(decrease) in cash held |
91 |
471 |
2,951 |
|
|
Cash and cash equivalents at the beginning of the reporting period |
722 |
251 |
2,791 |
|
|
Cash and cash equivalents at the end of the reporting period |
813 |
722 |
5,742 |
The budget variances commentary is contained in the Other Information section (note 7.1).
The above statement should be read in conjunction with the accompanying notes.
ADMINISTERED SCHEDULE OF COMPREHENSIVE INCOME for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
|
|---|---|---|
|
NET COST OF SERVICES |
||
|
Expenses |
||
|
Other expenses |
(780) |
(350) |
|
Total expenses |
(780) |
(350) |
|
Income |
||
|
Revenue |
||
|
Non-taxation revenue |
||
|
Sale of goods and rendering of services |
328 |
2,694 |
|
Total revenue |
328 |
2,694 |
|
Net contribution by services |
(452) |
2,344 |
|
Surplus/(loss) |
(452) |
2,344 |
|
Total comprehensive income/(loss) |
(452) |
2,344 |
Budget Variances Commentary
The original budget for the Administered Schedule of Comprehensive Income was not published in the 2018-19 Portfolio Budget Statements.
Accounting Policy
All administered revenues are revenues relating to ordinary activities performed by the Bureau of Meteorology on behalf of the Australian Government.
ADMINISTERED SCHEDULE OF ASSETS AND LIABILITIES as at 30 June 2019
|
2019 ’000 |
2018 $’000 |
||
|---|---|---|---|
|
ASSETS |
|||
|
Financial Assets |
|||
|
Trade and other receivables |
123 |
59 |
|
|
Accrued revenues |
- |
32 |
|
|
Total assets administered on behalf of Government |
123 |
91 |
|
|
LIABILITIES |
|||
|
Payables |
|||
|
Trade and other payables |
478 |
- |
|
|
GST payable |
11 |
5 |
|
|
Total liabilities administered on behalf of government |
489 |
5 |
|
|
Net assets |
(366) |
86 |
The above schedule should be read in conjunction with the accompanying notes.
Budget Variances Commentary
The original budget for the Administered Schedule of Assets and Liabilities was not published in the 2018-19 Portfolio Budget Statements.
ADMINISTERED RECONCILIATION SCHEDULE for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
|
|---|---|---|
|
Opening assets less liabilities as at 1 July |
86 |
296 |
|
Net contribution by services |
||
|
Income/(expenses) |
(452) |
2,344 |
|
Transfers (to)/from the Australian Government |
||
|
Appropriation transfers to Official Public Account |
||
|
Transfers to Official Public Account |
- |
(2,554) |
|
Closing assets less liabilities as at 30 June |
(366) |
86 |
Accounting Policy
Administered Cash Transfers to and from Official Public Account
Revenue collected by the Bureau of Meteorology for use by the Government rather than the Bureau of Meteorology is administered revenue. Collections are transferred to the Official Public Account (OPA) maintained by the Department of Finance. Conversely, cash is drawn from the OPA to make payments under Parliamentary appropriation on behalf of Government. These transfers to and from the OPA are adjustments to the administered cash held by the Bureau of Meteorology on behalf of the Government and reported as such in the schedule of administered cash flows and in the administered reconciliation schedule.
ADMINISTERED CASH FLOW STATEMENT for the period ended 30 June 2019
|
2019 $’000 |
2018 $’000 |
|
|---|---|---|
|
OPERATING ACTIVITIES |
||
|
Cash received |
||
|
Sale of goods and rendering of services |
296 |
2,906 |
|
Net GST received |
6 |
(2) |
|
Total cash received |
302 |
2,904 |
|
Cash used |
||
|
Suppliers |
(302) |
(350) |
|
Total cash paid |
(302) |
(350) |
|
Net cash from operating activities |
- |
2,554 |
|
Cash to Official Public Account |
||
|
Cash transfers to Official Public Account |
- |
(2,554) |
|
Cash and cash equivalents at the beginning of the reporting period |
- |
- |
|
Cash and cash equivalents at the end of the reporting period |
- |
- |
Visit
https://www.transparency.gov.au/annual-reports/bureau-meteorology/reporting-year/2018-2019-31