Note 2: Financial performance
This section analyses the financial performance of the CGC for the year ended 30 June 2019.
Note 2.1: Expenses
|
2019 |
2018 |
|
|---|---|---|
|
$’000 |
$’000 |
|
|
2.1A: Employee benefits |
||
|
Wages and salaries |
3,491 |
3,505 |
|
Superannuation |
||
|
Defined contribution plans |
277 |
120 |
|
Defined benefits plans |
334 |
922 |
|
Leave and other entitlements |
531 |
589 |
|
Total employee benefits |
4,633 |
5,136 |
Accounting policy
Accounting policies for employee-related expenses are contained in the ‘People and relationships’ section.
|
2019 |
2018 |
|
|---|---|---|
|
$’000 |
$’000 |
|
|
2.1B: Suppliers |
||
|
Goods and services |
||
|
Professional services |
446 |
247 |
|
Operating |
106 |
216 |
|
Information technology |
271 |
187 |
|
Travel |
166 |
141 |
|
Property |
54 |
55 |
|
Total goods and services |
1,043 |
846 |
|
Other suppliers |
||
|
Operating lease rentals |
319 |
320 |
|
Workers compensation expenses |
9 |
8 |
|
Total other suppliers |
328 |
328 |
|
Total suppliers |
1,371 |
1,174 |
|
Leasing commitments |
||
|
The CGC, in its capacity as lessee, has entered into an accommodation lease in the ACT from 1 July 2015 for a period of seven years. As part of the lease agreement, the CGC received a contribution of $0.08 million from the landlord towards refurbishment of the premises. This incentive is being recognised progressively over the lease as a reduction in rent expense. |
||
|
Commitments for minimum lease payments in relation to non-cancellable operating leases are payable as follows: |
||
|
Within 1 year |
378 |
365 |
|
Between 1 to 5 years |
761 |
1,139 |
|
Total operating lease commitments |
1,139 |
1,504 |
Accounting policy
Operating lease payments are expensed on a straight-line basis, which is representative of the pattern of benefits derived from the leased assets.
The CGC has no finance leases.
Note 2.2: Own-source revenue and gains
2.2A: Other revenue
Accounting policy
ANAO audit services 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.
2.2B: Revenue from government
Accounting policy
Amounts appropriated for departmental operating activities for the year (adjusted for any formal additions and reductions and less departmental capital budgets) are recognised as revenue from government when the CGC gains control of the appropriation.
Appropriations receivable are recognised at their nominal amounts.
Visit
https://www.transparency.gov.au/annual-reports/commonwealth-grants-commission/reporting-year/2018-2019-23