Statement of Comprehensive Income
For the period ended 30 June 2019
|
2019 |
2018 |
Original Budget |
||||
|
Notes |
$'000 |
$'000 |
$'000 |
|||
|
NET COST OF SERVICES |
||||||
|
Expenses |
||||||
|
Employee benefits |
194,763 |
198,771 |
170,886 |
|||
|
Suppliers |
201,744 |
185,910 |
210,071 |
|||
|
Depreciation and amortisation |
23,393 |
23,865 |
26,399 |
|||
|
Impairment of intangible assets |
597 |
- |
- |
|||
|
Losses from asset disposal |
11 |
869 |
- |
|||
|
Underwriting expenses |
41,571 |
27,739 |
29,700 |
|||
|
Total expenses |
462,079 |
437,154 |
437,056 |
|||
|
Own-Source Income |
||||||
|
Own-source revenue |
||||||
|
Net premium revenue |
37,537 |
36,125 |
33,300 |
|||
|
Investment revenue |
1,685 |
1,518 |
1,500 |
|||
|
Insurance agency revenue |
3,067 |
2,891 |
3,000 |
|||
|
Rendering of services |
7,243 |
6,866 |
6,176 |
|||
|
Other revenue1 |
728 |
728 |
727 |
|||
|
Total own-source revenue |
50,260 |
48,128 |
44,703 |
|||
|
Total own-source income |
50,260 |
48,128 |
44,703 |
|||
|
Net cost of services |
411,819 |
389,026 |
392,353 |
|||
|
Revenue from Government - departmental appropriations |
374,778 |
368,346 |
366,606 |
|||
|
Deficit before income tax on continuing operations |
(37,041) |
(20,680) |
(25,747) |
|||
|
Income tax expense - competitive neutrality |
- |
372 |
- |
|||
|
Deficit after income tax on continuing operations |
(37,041) |
(21,052) |
(25,747) |
|||
|
Deficit after income tax |
(37,041) |
(21,052) |
(25,747) |
|||
|
OTHER COMPREHENSIVE INCOME |
||||||
|
Items not subject to subsequent reclassification to net cost of services |
||||||
|
Changes in asset revaluation surplus |
1,967 |
654 |
- |
|||
|
Total other comprehensive income |
1,967 |
654 |
- |
|||
|
Total comprehensive loss |
(35,074) |
(20,398) |
(25,747) |
The above statement should be read in conjunction with the accompanying notes.
For budgetary reporting information refer to Note 8.2.
1The original budget figure ($4.5m) from the PBS is reclassified from ‘Other Revenue’ to ‘Investment Revenue’ ($1.5m), and ‘Insurance Agency Revenue’ ($3.0m).
Visit
https://www.transparency.gov.au/annual-reports/department-veterans-affairs/reporting-year/2018-2019-42