Financial performance
This section analyses the financial performance of the Department of the House of Representatives for the year ended 30 June 2019.
Accounting policy |
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Revenue from the sale of goods Revenue from the sale of goods is recognised when:
Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:
The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction. Receivables for goods and services, which have 30-day terms, are recognised at the nominal amounts due less any impairment allowance amount. Collectability of debts is reviewed as at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable. Interest Interest revenue is recognised using the effective interest method. Resources received free of charge Resources received free of charge are recognised as gains 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. Contributions of assets at no cost of acquisition or for nominal consideration are recognised as gains at their fair value when the asset qualifies for recognition. Revenue from government Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as revenue from government when the department gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts. |
Note 1: Expenses
2019 |
2018 |
|
---|---|---|
$’000 |
$’000 |
|
1A: Employee benefits |
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Wages and salaries |
14,265 |
14,733 |
Superannuation |
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Defined contribution plans |
1,052 |
967 |
Defined benefit plans |
1,733 |
1,898 |
Leave and other entitlements |
2,225 |
1,622 |
Separation and redundancies |
51 |
190 |
Total employee benefits |
19,326 |
19,410 |
1B: Suppliers |
||
Goods and services supplied or rendered |
||
Staff-related services |
606 |
373 |
Travel |
683 |
1,094 |
Office services |
3,511 |
3,092 |
Communication |
90 |
86 |
Corporate expenses |
259 |
243 |
Total goods and services supplied or rendered |
5,149 |
4,888 |
Goods supplied |
268 |
218 |
Services rendered |
4,881 |
4,670 |
Total goods and services supplied or rendered |
5,149 |
4,888 |
Other suppliers |
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Operating lease rentals |
41 |
39 |
Workers' compensation expenses |
53 |
56 |
Total other suppliers |
94 |
95 |
Total suppliers |
5,243 |
4,983 |
Leasing commitments |
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Operating leases 2018–19 included were effectively non-cancellable and comprise agreements for the provision of motor vehicles to senior executives and for departmental use. |
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Commitments for minimum lease payments in relation to non-cancellable |
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Within 1 year |
41 |
27 |
Between 1 to 5 years |
34 |
41 |
Total operating lease commitments |
75 |
68 |
Note 2: Own-source revenue and gains
2019 |
2018 |
|
---|---|---|
$’000 |
$’000 |
|
2A: Sale of goods and rendering of services |
||
Sale of goods |
16 |
25 |
Rendering of services |
48 |
27 |
Total sale of goods and rendering of services |
64 |
52 |
2B: Interest |
||
Deposits |
70 |
64 |
Total interest |
70 |
64 |
2C: Other revenue |
||
Royalties |
12 |
6 |
Funding from external sources |
111 |
520 |
Comcare refunds |
- |
36 |
Total other revenue |
123 |
562 |
2D: Other gains |
||
Resources received free of charge |
||
Remuneration of auditors |
83 |
83 |
Rent of premises |
1,920 |
1,869 |
Other gain—asset first time recognition |
- |
34 |
Total other gains |
2,003 |
1,986 |
Accounting policy |
---|
Revenue from the sale of goods Revenue from the sale of goods is recognised when:
Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date. The revenue is recognised when:
The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction. Receivables for goods and services, which have 30-day terms, are recognised at the nominal amounts due less any impairment allowance amount. Collectability of debts is reviewed as at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable. Interest Interest revenue is recognised using the effective interest method. Resources received free of charge Resources received free of charge are recognised as gains 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. Contributions of assets at no cost of acquisition or for nominal consideration are recognised as gains at their fair value when the asset qualifies for recognition. Revenue from government Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as revenue from government when the department gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts. |
Visit
https://www.transparency.gov.au/annual-reports/department-house-representatives/reporting-year/2018-2019-42