Note 15: Budget variances commentary
Explanations of major variances |
Affected line items |
Operating expenses remain substantially constrained by NOPSEMA in anticipation of budgetary pressures in future periods. |
Statement of Comprehensive Income: Employee benefits Statement of Financial Position: cash Statement of changes in equity: Surplus Cash flow statement: Cash used - employees |
In 2018-19, levy revenue was below budget due to lower than expected submissions. |
Statement of Comprehensive Income: Revenue Statement of Financial Position: Cash Statement of Changes in Equity: Surplus Cash Flow Statement: Cash received - Receipts from levies |
Revenue from the Government was no longer receivable by NOPSEMA due to legislative change. |
Statement of Comprehensive Income: Revenue from Government |
Trade and other receivables was lower against budget due to lower than anticipated levy revenue. |
Statement of Financial Position Trade and other receivables |
Other non-financial assets were higher due to a prepayment of rent. |
Statement of Comprehensive Income: Suppliers Statement of Financial Position: Other non-financial assets Cash Flow Statement: Cash used - Accommodation |
Accrued expenditure was higher against budget due to costs associated with the relocation of the Melbourne office. |
Statement of Financial Position: Suppliers Cash Flow Statement: Cash used - Suppliers |
Other provisions relate to Lease incentives and Makegood provisions which were in line with budget. |
Statement of Comprehensive Income: Suppliers Statement of Financial Position: Other Provisions |
Lift on recruitment freeze allowed NOPSEMA to hire permanent staff members which resulted in higher employee leave provisions against budget. |
Statement of Financial Position: Employee Provisions |
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https://www.transparency.gov.au/annual-reports/national-offshore-petroleum-safety-and-environmental-management-authority/reporting-year/2018-2019-72