Financial Performance
Expenses
|
Notes to and forming part of the Financial Statements |
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|---|---|---|---|
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for the period ended 30 June 2019 |
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Financial Performance |
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|
2019 |
2018 |
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|
$'000 |
$'000 |
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NOTE 1.1 EXPENSES |
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|
1.1A Employee Benefits |
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|
Wages and salaries |
6,331 |
3,905 |
|
|
Superannuation defined contribution plans |
555 |
311 |
|
|
Leave and other entitlements |
316 |
441 |
|
|
Total employee benefits |
7,202 |
4,657 |
|
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Accounting policies for employee related expenses is contained in the Overview section. |
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|
1.1B Suppliers |
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|
Support services provided by Export Finance Australia |
768 |
1,591 |
|
|
Professional fees |
534 |
871 |
|
|
Property costs |
470 |
292 |
|
|
Travel |
412 |
597 |
|
|
Consultants |
206 |
320 |
|
|
Contractors |
139 |
87 |
|
|
Computer and communication costs |
127 |
225 |
|
|
Insurance |
28 |
20 |
|
|
Advertising and promotional costs |
11 |
57 |
|
|
Credit information |
4 |
4 |
|
|
Other |
137 |
126 |
|
|
Total suppliers |
2,836 |
4,190 |
|
|
Leasing commitments |
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|
Operating lease payable |
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|
Within 1 year |
120 |
117 |
|
|
Between 1 to 5 years |
90 |
40 |
|
|
Total operating lease commitments |
210 |
157 |
|
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NAIF in its capacity as lessee of a property in Cairns has signed a lease agreement starting on the 25th March 2018 for a term of three years with a 3 year extension option. The total lease payments for the financial period was $117k. At this stage NAIF has not made any determination as to whether they will be extending the lease. |
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Operating lease payments are expensed on a straight line basis which is representative of the pattern of benefits derived from the lease. |
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Revenue
|
Notes to and forming part of the Financial Statements continued |
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|---|---|---|---|
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For the period ended 30 June 2019 |
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NOTE 1.2 REVENUE |
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1.2A Own source revenue |
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|
Interest |
56 |
53 |
|
|
Sundry |
- |
1 |
|
|
Total own source revenue |
56 |
54 |
|
|
1.2B Revenue from Government |
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|
Department of Industry, Innovation and Science |
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|
Corporate Commonwealth entity payment |
9,505 |
8,504 |
|
|
Total revenue from Government |
9,505 |
8,504 |
|
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Funding received or receivable from the Department of Industry, Innovation and Science (appropriated to NAIF as a Corporate Commonwealth Entity payment item) is recognised as Revenue from the Government when NAIF gains control of the funding. If the funding is in the nature of an equity injection, such amounts are recognised directly in contributed equity in the year received. |
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Visit
https://www.transparency.gov.au/annual-reports/northern-australia-infrastructure-facility/reporting-year/2018-2019-53