SIEF financial statements
Statement of comprehensive income
For the period ended as at 30 June 2019
|
Notes |
2019 |
2018 |
|
|---|---|---|---|
|
$ |
$ |
||
|
EXPENSES |
|||
|
Scientific research grants |
25,609,609 |
18,632,420 |
|
|
Service fee under services agreement with CSIRO |
340,189 |
352,072 |
|
|
Audit fees |
15,500 |
15,500 |
|
|
Other fees |
398 |
450 |
|
|
Total expenses |
25,965,696 |
19,000,442 |
|
|
LESS: |
|||
|
REVENUE |
|||
|
NICTA Gift |
20,000,000 |
- |
|
|
Metcalf bequest |
1,037,633 |
- |
|
|
CSIRO Gift |
- |
10,000,000 |
|
|
Interest |
2,001,919 |
1,697,666 |
|
|
Total revenue |
23,039,552 |
11,697,666 |
|
|
Deficit |
(2,926,144) |
(7,302,776) |
|
|
Other comprehensive income |
- |
- |
|
|
Total comprehensive loss |
(2,926,144) |
(7,302,776) |
The above Statement should be read in conjunction with the accompanying notes.
Statement of financial position
For the period ended as at 30 June 2019
|
Notes |
2019 |
2018 |
|
|---|---|---|---|
|
$ |
$ |
||
|
ASSETS |
|||
|
Current assets |
|||
|
Cash and cash equivalents |
65,017,563 |
68,181,236 |
|
|
Interest receivable |
793,925 |
702,647 |
|
|
GST receivable |
1,423,500 |
199,054 |
|
|
Total assets |
67,234,988 |
69,082,937 |
|
|
LIABILITIES |
|||
|
Current liabilities |
|||
|
Payables |
|||
|
Accrued grants payable |
1,043,744 |
- |
|
|
Shared service fee payable |
122,270 |
87,819 |
|
|
Accrued audit fee |
15,500 |
15,500 |
|
|
Total payables |
1,181,514 |
103,319 |
|
|
Total liabilities |
1,181,514 |
103,319 |
|
|
Net assets |
66,053,474 |
68,979,618 |
|
|
EQUITY |
|||
|
Contributed equity |
200,000 |
200,000 |
|
|
Retained surplus |
65,853,474 |
68,779,618 |
|
|
Total equity |
66,053,474 |
68,979,618 |
The above Statement should be read in conjunction with the accompanying notes.
Statement of changes in equity
For the period ended as at 30 June 2019
|
Retained Surplus |
Contributed Equity |
Total Equity |
||||
|---|---|---|---|---|---|---|
|
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
|
|
$ |
$ |
$ |
$ |
$ |
$ |
|
|
Opening Balance |
68,779,618 |
76,082,394 |
200,000 |
200,000 |
68,979,618 |
76,282,394 |
|
Net deficit |
(2,926,144) |
(7,302,776) |
- |
- |
(2,926,144) |
(7,302,776) |
|
Closing Balance |
65,853,474 |
68,779,618 |
200,000 |
200,000 |
66,053,474 |
68,979,618 |
The above Statement should be read in conjunction with the accompanying notes.
Cash flow statement
For the period ended as at 30 June 2019
|
Notes |
2019 |
2018 |
|
|---|---|---|---|
|
$ |
$ |
||
|
OPERATING ACTIVITIES |
|||
|
Cash received |
|||
|
NICTA Gift |
20,000,000 |
- |
|
|
Metcalf bequest |
1,037,633 |
- |
|
|
CSIRO Gift |
- |
10,000,000 |
|
|
Interest received |
1,910,641 |
1,434,755 |
|
|
GST credits received |
1,264,219 |
1,850,933 |
|
|
Total cash received |
24,212,493 |
13,285,688 |
|
|
Cash used |
|||
|
Payments to grantees |
27,022,452 |
20,516,065 |
|
|
Other payments |
353,316 |
392,473 |
|
|
Bank fees paid |
398 |
450 |
|
|
Total cash used |
27,376,166 |
20,908,988 |
|
|
Net cash used by operating activities |
9 |
(3,163,673) |
(7,623,300) |
|
Net decrease in cash held |
(3,163,673) |
(7,623,300) |
|
|
Cash at the beginning of the reporting period |
68,181,236 |
75,804,536 |
|
|
Cash at the end of the reporting period |
65,017,563 |
68,181,236 |
The above Statement should be read in conjunction with the accompanying notes.
Visit
https://www.transparency.gov.au/annual-reports/commonwealth-scientific-and-industrial-research-organisation/reporting-year/2018-2019-50