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Financial performance

The CGC remains in a sound financial position, operating within its appropriation and with sufficient cash reserves to funds its liabilities as and when they fall due.

Excluding depreciation, amortisation, changes in asset revaluation reserves and leasing adjustments, CGC reported an operating surplus of $2.77 million in 2020–21.

This compares with an operating surplus of $2.59 million in 2019–20 after adjusting for depreciation, amortisation, changes in asset revaluation reserves and leasing adjustments.

Table 1 Summary of financial performance (unadjusted), 2020–21

2020–21

2019–20

Movement

($’000)

($’000)

($’000)

Total own-source revenue

45

75

(30)

Total revenue from government

8,482

8,227

255

Total expenses

5,894

5,902

(8)

Net surplus/(deficit)

2,633

2,400

233

Resourcing statement

Table 2 summarises the CGC’s total resources and total payments in 2020–21, and Table 3 shows total expenses for Outcome 1 in 2020–21.

Table 2 CGC resource statement, 2020–21

Actual available

Payments made

Balance

($'000)

($'000)

($'000)

Ordinary annual services(a)

Departmental appropriation(b)

18,404

6,029

12,375

Total ordinary annual services

18,404

6,209

12,375

Total resourcing and payments

18,404

6,029

12,375

(a) Appropriation Act (No. 1) 2020–2021. This also includes prior-year departmental appropriation and retained revenue receipts under section 74 of the Public Governance, Performance and Accountability Act 2013.

(b) Includes an amount of $1,102,000 in 2020–21 for the departmental capital budget. For accounting purposes, this amount has been designated as ’contributions by owners’.

Table 3 Total expenses for Outcome 1, 2020–21

Budget(a)

Actual

Variation

2020–21

2020–21

2020–21

($’000)

($’000)

($’000)

Outcome 1: Informed government decisions on fiscal equalisation between the states and territories through advice and recommendations on the distribution of GST revenue

Program 1.1: The commission makes recommendations on the distribution of the GST pool, which are considered by government

Departmental expenses

Departmental appropriation

8,482

5,714

2,768

Expenses not requiring appropriation in the Budget year(b)

183

180

3

Total expenses for Program 1.1

8,665

5,894

2,771

Total expenses for Outcome 1

8,665

5,894

2,771

2019–20

2020–21

Average staffing level (number)(c)

24

23

(a) Full-year budget, including any subsequent adjustment made to the 2020–21 budget at Additional Estimates.

(b) Expenses not requiring appropriation in the Budget year are made up of depreciation expenses, amortisation expenses, and audit fees.

(c) Actual average staffing level (ASL) for 2019–20 and 2020–21