Consolidated Cash Flow Statement
|
2019 |
2018 |
Original Budget 2019 |
||
|---|---|---|---|---|
|
Notes |
$'000 |
$'000 |
$'000 |
|
|
OPERATING ACTIVITIES |
||||
|
Cash received |
||||
|
Receipts from Government |
55,557 |
51,836 |
55,557 |
|
|
Sales of goods and rendering of services |
10,717 |
10,452 |
7,931 |
|
|
Interest |
1,460 |
1,475 |
1,015 |
|
|
Net GST received |
1,707 |
1,654 |
- |
|
|
Other |
3,038 |
2,453 |
2,092 |
|
|
Cash received on behalf of others |
2 |
262 |
- |
|
|
Total cash received |
72,481 |
68,132 |
66,595 |
|
|
Cash used |
||||
|
Employees |
(36,209) |
(36,517) |
(35,102) |
|
|
Suppliers |
(22,805) |
(18,358) |
(20,035) |
|
|
Other |
(466) |
(776) |
(731) |
|
|
Total cash used |
(59,480) |
(55,651) |
(55,868) |
|
|
Net cash from operating activities |
13,000 |
12,481 |
10,727 |
|
|
INVESTING ACTIVITIES |
||||
|
Cash received |
||||
|
Proceeds from sales of property, plant and equipment |
45 |
65 |
- |
|
|
Investments |
107,581 |
23,478 |
1,000 |
|
|
Total cash received |
107,626 |
23,543 |
1,000 |
|
|
Cash used |
||||
|
Purchase of property, plant and equipment |
(7,591) |
(12,344) |
(14,390) |
|
|
Purchase of intangibles |
(8,095) |
(7,642) |
(4,960) |
|
|
Investments |
(110,195) |
(17,940) |
- |
|
|
Total cash used |
(125,881) |
(37,926) |
(19,350) |
|
|
Net cash from investing activities |
(18,254) |
(14,383) |
(18,350) |
|
|
FINANCING ACTIVITIES |
||||
|
Cash received |
||||
|
Contributed Equity |
9,514 |
9,563 |
9,514 |
|
|
Total cash received |
9,514 |
9,563 |
9,514 |
|
|
Net cash from financing activities |
9,514 |
9,563 |
9,514 |
|
|
Net increase in cash held |
4,260 |
7,661 |
991 |
|
|
Cash and cash equivalents at the beginning of the reporting period |
14,393 |
6,732 |
4,977 |
|
|
Cash and cash equivalents at the end of the reporting period |
18,653 |
14,393 |
5,968 |
The above statement should be read in conjunction with the accompanying notes.
Budget Variance Commentary
A variance is considered major when the variance between budget and actual is greater than 10% and greater than 2% of the relevant category (expenses, revenue, assets, liabilities, receipts or payments). An item below this threshold will be included if considered important for the reader's understanding.
|
Explanation of major variances |
Affected line items |
|---|---|
|
An increase of sales of goods and services revenue of $1.123m is primarily due to the Library entering or securing a higher number of contracts for digitisation services, higher than forecast sales of books and publications. |
Sale of goods and rendering of services |
|
An increase of deposit interest of $0.445m is primarily due to a higher percentage of funds being held in investments throughout the year. |
Deposit Interest |
|
An increase in other revenue by $2.688m is primarily due to the Library obtaining a significantly higher number of one-off large donations in the 2018-19 financial year. Receipt of donations are not known when setting the budget. |
Other Revenue |
|
Explanation of major variances |
Affected line items |
|---|---|
|
An increase of cash and cash equivalents of $12.685m is primarily due to lower than budgeted asset purchases as well as lower than anticipated supplier expenditure in June. Additionally, a term deposit of $10.124m at 30 June had a less than 90 day maturity, and was therefore deemed as cash and cash equivalents. |
Cash and cash equivalents |
|
An increase of investments balance of $2.872m is primarily due to a lower than expected cash outflow throughout 2018-19. |
Investments |
|
A decrease of suppliers payable of $0.920m is due to a higher proportion of invoices paid prior to the end of June. |
Suppliers |
|
Explanation of major variances |
Affected line items |
|---|---|
|
An increase of sales of goods and services revenue of $2.786m is primarily due to the Library entering or securing a higher number of contracts for digitisation services, and higher than forecast sales of books and publications. |
Sale of goods and rendering of services |
|
An increase in cash used for suppliers of $2.770m is due to a lower proportion of supplier payables and accruals ($0.920m) at 30 June 2019 as well as an increase in expenditure on suppliers ($1.295m) and grants ($0.325m) throughout the year. |
Cash used - Suppliers Expense |
|
An increase in the cash received and cash used for investments is primarily due to the original budget reflecting the net cash received from investments rather than gross inflows and outflows. |
Cash received – Investments Cash used - Investments |
|
A decrease in the cash used for the purchase of property plant and equipment of $6.799m is primarily due to delayed expenditure on major capital works and a lower than forecast expenditure on collection acquisitions in 2018-19. This increase was partially offset by a $3.135m increase in intangible assets from higher than forecast expenditure on digitisation of collection items and major IT projects. |
Cash used – Purchase of property, plant and equipment Cash used - Purchases of intangibles |
Visit
https://www.transparency.gov.au/annual-reports/national-library-australia/reporting-year/2018-2019-35