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SIEF financial statements

Image of the signed SIEF financial statements. Document is signed by Larry Marshall and Tom Munyard
SIEF signed financial statements

Statement of comprehensive income

For the period ended as at 30June 2020.

Notes

2020

2019

$

$

EXPENSES

Scientific research grants

1

11,546,425

25,609,609

Service fee under services agreement with CSIRO

578,064

340,189

Audit and Bank fees

15,570

15,500

Other fees

3

398

Total expenses

12,140,062

25,965,696

LESS:

REVENUE

NICTA Gift

2

5,000,000

20,000,000

Metcalf bequest

0

1,037,633

CSIRO Gift

2

5,000,000

0

Interest

3

1,139,994

2,001,919

Total revenue

11,139,994

23,039,552

Net profit/ (deficit)

(1,000,068)

(2,926,144)

Other comprehensive income

0

0

Total comprehensive loss

(1,000,068)

(2,926,144)

The above statement should be read in conjunction with the accompanying notes.

Statement of financial position

For the period ended as at 30 June 2020

Notes

2020

2019

$

$

ASSETS

Current assets

Cash and Cash Equivalents

4

64,603,883

65,017,563

Interest receivable

5

428,189

793,925

GST receivable

5

36,834

1,423,500

Total assets

65,068,906

67,234,988

LIABILITIES

Current liabilities

Payables

Accrued grants payable

6

0

1,043,744

Shared service fee payable

6

0

122,270

Accrued audit fee

6

15,500

15,500

Total payables

15,500

1,181,514

Total liabilities

15,500

1,181,514

Net assets

65,053,406

66,053,474

EQUITY

Contributed equity

200,000

200,000

Retained surplus

64,853,406

65,853,474

Total equity

65,053,406

66,053,474

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 2020

Retained Surplus

Contributed Equity

Total Equity

2020

2019

2020

2019

2020

2019

$

$

$

$

$

$

Opening Balance

65,853,474

68,779,618

200,000

200,000

66,053,474

68,979,618

Net profit/(deficit)

(1,000,068)

(2,926,144)

0

0

(1,000,068)

(2,926,144)

Closing Balance

64,853,406

65,853,474

200,000

200,000

65,053,406

66,053,474

The above statement should be read in conjunction with the accompanying notes

Cash flow statement

For the period ended as at 30 June 2020

Notes

2020

2019

$

$

OPERATING ACTIVITIES

Cash received

NICTA Gift

5,000,000

20,000,000

Metcalf bequest

0

1,037,633

CSIRO Gift

5,000,000

0

Interest received

1,505,730

1,910,641

GST credits received

2,717,266

1,264,219

Total cash received

14,222,996

24,212,493

Cash used

Payments to grantees

13,992,355

27,022,452

Other payments

644,321

353,316

Bank fees paid

0

398

Total cash used

14,636,676

27,376,166

Net cash provided/(used) by operating activities

7

(413,680)

(3,163,673)

Net increase/(decrease) in cash held

(413,680)

(3,163,673)

Cash at the beginning of the reporting period

65,017,563

68,181,236

Cash at the end of the reporting period

64,603,883

65,017,563

The above statement should be read in conjunction with the accompanying notes