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6. Other information

6.1 Budgetary Reporting

Explanations of major variances between the actual amounts presented in the financial statements and the corresponding original budget amounts.

Affected line items

Statement of Comprehensive Income and Cash flow Statement

The NCC underspends were primarily due to supplier expenses being $0.72 million lower than budgeted in 2018-19. Supplier expenses will fluctuate based on the level of activity required for the year and were below budget due to lower levels of activity.

Employee expenses were also $0.04 million lower than budgeted in 2018-19. NCC budgets for employee expenses on the basis of full membership of the Council consisting of the President and three councillors. During 2018-19 the membership of the Council consisted of the President and two councillors resulting in the lower employee expenses compared to budgeted amounts.

The budgeted cash flow statement is a reflection of the budgeted statement of comprehensive income that has been grossed up for GST. The variances result from the underspend on expenses explained above.

Supplier expenses

Employee benefits

Supplier cash used

Employee cash used

Appropriations cash received

Net GST cash received

Statement of Financial Position and Statement of Changes in Equity

The budgeted Statement of Financial Position and Statement of Changes in Equity are based on a break-even position being achieved. Variances to budgeted amounts in these statements are primarily due to the impact of underspends in both the current and prior year, as well as adjustments for the repeal of prior year unspent appropriations.

Trade and other receivables were higher than budgeted due to the net effect of:

- An increase in the appropriation receivable due to surpluses of $1.75m over the current

and prior year; and

- A decrease in the appropriation receivable of $1.20m following repeal of the 2015-16 and

2016-17 Appropriation Acts.

Trade payables were higher than budgeted due to one outstanding invoice at 30 June 2019.

Trade and other receivables

Supplier payables

Retained surplus

6.2 Aggregate Assets and Liabilities





Assets expected to be recovered in:

No more than 12 months



More than 12 months



Total assets



Liabilities expected to be settled in:

No more than 12 months



Total liabilities