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).
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https://www.transparency.gov.au/annual-reports/department-veterans-affairs/reporting-year/2018-2019-42