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Cash Flow Statement

For the period ended 30 June 2020

Notes

2020

$'000

2019

$'000

Original Budget

2020

$'000

OPERATING ACTIVITIES

Cash received

Receipts from Australian Government

17,149

16,899

16,890

Receipts from New Zealand Government

2,008

1,967

1,930

Sale of goods and rendering of services

1,907

4,068

117

Interest

165

226

320

Net GST received

432

312

322

Other

38

18

-

Total cash received

21,699

23,490

19,579

Cash used

Employees

15,699

14,056

14,429

Suppliers

3,996

5,974

3,723

Interest payments on lease liabilities

99

-

-

Net GST paid

-

-

322

Total cash used

19,794

20,030

18,474

Net cash from operating activities

1,905

3,460

1,105

INVESTING ACTIVITIES

Cash used

Purchase of property, plant and equipment

371

495

1,105

Investments

3,000

-

-

Total cash used

3,371

495

1,105

Net cash used by investing activities

(3,371)

(495)

(1,105)

FINANCING ACTIVITIES

Cash used

Principal payments of lease liabilities

998

-

-

Total cash used

998

-

-

Net cash from financing activities

(998)

-

-

Net increase/(decrease) in cash held

(2,464)

2,965

-

Cash and cash equivalents at the beginning of the reporting period

5,150

2,184

2,684

Effect of exchange rate movements on cash and cash equivalents at the beginning of the reporting period

(17)

1

-

Cash and cash equivalents at the end of the reporting period

2.1A

2,669

5,150

2,684

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

AASB 1055 Explanations of major variances

Affected line items (and schedule)

1. Sale of goods and rendering of services

Sale of goods and rendering of services

The increase is due to a higher than expected number of applications received for amendments to the Food Standards Code. This is a demand driven activity.

(Cash Flow Statement)

2. Interest

Interest

Interest receipts were lower due to rates being lower than anticipated

(Cash Flow Statement)

3. Purchase of property, plant and equipment

Purchase of property, plant and equipment

The decrease in expenditure is due to lower than expected capital expenditure on computer equipment.

(Cash Flow Statement)

4. Investments

Investments

There was a transfer of funds from cash and cash equivalents to Investments, in order to generate more interest revenue.

(Cash Flow Statement)

5. Principle payments of lease liabilities/Interest Payment on Lease Liabilities

Principle payments of lease liabilities/Interest Payment on Lease Liabilities

This is due to the implementation of AASB 16 leases which was not included in the budget.

(Cash Flow Statement)