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Cash Flow Statement

Infrastructure and Project Financing Agency

Cash Flow Statement

for the period ended 30 June 2019

2019

2018

Original Budget

Notes

$

$

$

OPERATING ACTIVITIES

Cash received

Appropriations

5,083,000

3,327,000

5,083,000

Sale of goods and rendering of services

47,825

-

-

Net GST Received

189,806

58,426

-

Total cash received

5,320,631

3,385,426

5,083,000

Cash used

Employees

2,336,712

1,241,078

2,327,000

Suppliers

2,745,294

1,556,705

2,756,000

Total cash used

5,082,006

2,797,783

5,083,000

Net cash from operating activities

238,625

587,643

-

INVESTING ACTIVITIES

Cash used

Purchase of property, plant and equipment

-

172,897

-

Total cash used

-

172,897

-

Net cash used by investing activities

-

(172,897)

-

FINANCING ACTIVITIES

Cash received

Contributed Equity

-

105,000

-

Total cash received

-

105,000

-

Net cash from financing activities

-

105,000

-

Net increase in cash held

238,625

519,746

-

Cash and cash equivalents at the beginning of the reporting period

519,746

-

-

Cash and cash equivalents at the end of the reporting period

758,371

519,746

-

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

Cash flow Statement Current Report Period (2018-19)

Budget Variances Commentary

The total expenses on the statement of comprehensive income only have a minor variance between budget and actual, which is comprised by higher employee benefits, offset by the lower suppliers. IPFA was approved at 2018-19 MYEFO for extra FTE and associated funding. As a result, higher employee benefits were driven by extra staff. The variance in supplier expenses was a result of lower than anticipated contractor expenses, recruitment and travel. Depreciation increased when compared to budget due to a change in leasing arrangements. This resulted in accelerated depreciation that was unknown at the time of the budget. In the statement of financial position, trade and other receivables variance is mainly due to higher appropriation receivable in the context of higher MYEFO appropriation. No budgeted figures were provided for suppliers and other payables.