Statement of Profit or Loss and Other Comprehensive Income
for the period ended 30 June 2020 | |||||
*commentary below | |||||
Original | |||||
2020 | 2019 | Budget | |||
Note | $'000 | $'000 | $'000 | ||
NET COST OF SERVICES | |||||
Expenses | |||||
Employee Benefits | 1.1A | 7,544 | 7,202 | 7,267 | |
Suppliers | 1.1B | 3,130 | 2,836 | 3,103 | |
Depreciation on right of use assets | 2.2A | 118 | - | - | |
Finance costs | 1.1C | 1 | - | - | |
Total expenses | 10,793 | 10,038 | 10,370 | ||
Own-Source Income | |||||
Own source revenue | 1.2A | 18 | 56 | 30 | |
Net cost of services | (10,775) | (9,982) | (10,340) | ||
Revenue from Government | 1.2B | 10,340 | 9,505 | 10,340 | |
Total comprehensive income/(loss) attributable to the Australian Government | (435) | (477) | - |
* The original budget for the 2019-20 financial year shown here of $10.370 million is the budget presented to Parliament in the 2019-20 Portfolio Additional Estimates. This budget was prepared in March 2019 before the 2018-19 financial year had ended and before any Government approvals had been received to carry forward any underspend from the previous year.
Following the end of the 2018-19 financial year, the Board approved a revised budget in December 2019 for the 2019-20 financial year. That budget was the original budget of $10.370 million plus the underspend of $1.632 million from 2018-19 financial year bringing the total expense budget to $12.002 million.
In 2019-20, only $10.793 million of the $12.002 million budget was expensed leaving an underspend of $1.209 million. Including other minor adjustments of $17,000, the total underspend for 2019-20 was $1.192 million.
At the date of these accounts, no decision had been made by Government as to whether the $1.192 million underspend will be approved to carry forward in 2020-21.
The above statement should be read in conjunction with the accompanying notes.
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https://www.transparency.gov.au/annual-reports/northern-australia-infrastructure-facility/reporting-year/2019-20-57