Go to top of page

1.Budgetary reporting

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

Statement of Comprehensive Income and Cash flow Statement

Affected line items

The NCC underspends were primarily due to supplier expenses being $641,702 lower than budgeted in 2019-20. 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 $74,977 lower than budgeted in 2019-20. NCC budgets for employee expenses on the basis of full membership of the Council consisting of the President and three councillors. During 2019-20 the membership of the Council consisted of the President and two councillors resulting in the lower employee expenses compared to budgeted amounts.

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

Affected line items

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.

While appropriation receivables were close to budgeted amounts, the closing balance represents the net effect of:

- An increase in the appropriation receivable due to surpluses of $1,481,124 over the current and prior year; and

- A decrease in the appropriation receivable of $1,509,665 following repeal of the 2016-17 and 2017-18 Appropriation Acts.

Appropriation Receivable
Retained surplus