Statement of financial position
as at 30 June 2019
|
2019 |
2018 |
Original Budget 2019 |
||
|---|---|---|---|---|
|
Notes |
$'000 |
$'000 |
$'000 |
|
|
ASSETS |
||||
|
Financial assets |
||||
|
Cash and cash equivalents |
861 |
277 |
166 |
|
|
Trade and other receivables |
21 891 |
24 608 |
23 419 |
|
|
Other financial assets |
- |
- |
1 |
|
|
Total financial assets |
22 752 |
24 885 |
23 586 |
|
|
Non-financial assets |
||||
|
Property, plant and equipment |
1 503 473 |
1 492 345 |
1 470 551 |
|
|
Intangibles |
16 611 |
16 146 |
16 629 |
|
|
Inventories |
165 |
140 |
92 |
|
|
Other non-financial assets - Prepayments |
2 146 |
1 418 |
2 296 |
|
|
Total non-financial assets |
1 522 395 |
1 510 049 |
1 489 568 |
|
|
Total assets |
1 545 147 |
1 534 934 |
1 513 154 |
|
|
LIABILITIES |
||||
|
Payables |
||||
|
Suppliers |
15 044 |
7 548 |
14 028 |
|
|
Other payables |
1 095 |
977 |
1 405 |
|
|
Total payables |
16 139 |
8 525 |
15 433 |
|
|
Provisions |
||||
|
Employee provisions |
11 746 |
11 326 |
11 146 |
|
|
Other provisions |
925 |
7 033 |
7 652 |
|
|
Total provisions |
12 671 |
18 359 |
18 798 |
|
|
Total liabilities |
28 810 |
26 884 |
34 231 |
|
|
Net assets |
1 516 337 |
1 508 050 |
1 478 923 |
|
|
EQUITY |
||||
|
Contributed equity |
52 539 |
46 701 |
53 039 |
|
|
Reserves |
382 396 |
365 858 |
338 168 |
|
|
Retained surplus |
1 081 402 |
1 095 491 |
1 087 716 |
|
|
Total equity |
1 516 337 |
1 508 050 |
1 478 923 |
|
- The above statement should be read in conjunction with the accompanying notes.
- This statement also represents the results for Outcome 1 as the Archives only has one outcome. Outcome 1 is described at the Overview note.
Budget Variances Commentary (continued)
Statement of Financial Position
Cash and cash equivalents
The value of cash and cash equivalents was greater than budget due to extra cash being requested for an expected rental invoice of approximately $400k which was not issued before the end of financial year by the supplier and not anticipated in the original budget.
Trade and other receivables
The value of trade and other receivables was less than budget primarily due to higher Appropriation drawdown during the year as a result.
Property, plant and equipment
The value of property, plant and equipment was greater than budget due to an increased value of the Infrastructure, Plant and Equipment (IPE) assets as a result of a revaluation undertaken in June 2019, and the Heritage and Cultural (HC) assets as a result of the revaluation in April 2018, which was not anticipated in the original budget.
Other provisions
The provision for restoration was less than budget due to two make good write-offs for the Chester Hill building in New South Wales and East Victoria Park building in Western Australia as a result of the cessation of the National Archives' leases. Following an assessment it was determined that make good was not required, which was not anticipated in the original budget.
Reserves
The value of asset revaluation reserves was greater than budget due to the movements for the IPE and HC asset valuation and write-offs of the provision for restoration as above, which were difficult to anticipate when developing the original budget.
Visit
https://www.transparency.gov.au/annual-reports/national-archives-australia/reporting-year/2018-2019-27