Statement of comprehensive income
for the period ended 30 June 2019
|
2019 |
2018 |
Original Budget |
|||
|---|---|---|---|---|---|
|
Notes |
$'000 |
$'000 |
$'000 |
||
|
NET COST OF SERVICES |
|||||
|
Expenses |
|||||
|
Employee benefits |
12,003 |
9,481 |
10,572 |
||
|
Suppliers |
4,618 |
4,271 |
5,127 |
||
|
Depreciation and amortisation |
464 |
530 |
399 |
||
|
Total expenses |
17,085 |
14,282 |
16,098 |
||
|
Own-source income |
|||||
|
Own-source revenue |
|||||
|
Rendering of services |
2,029 |
2,590 |
2,170 |
||
|
Other revenue |
36 |
36 |
- |
||
|
Total own-source revenue |
2,065 |
2,626 |
2,170 |
||
|
Gains |
|||||
|
Other gains |
– |
1 |
33 |
||
|
Total gains |
– |
1 |
33 |
||
|
Total own-source income |
2,065 |
2,627 |
2,203 |
||
|
Net cost of services |
(15,020) |
(11,655) |
(13,895) |
||
|
Revenue from Government |
13,825 |
10,711 |
13,496 |
||
|
Deficit attributable to the Australian Government |
(1,195) |
(944) |
(399) |
||
|
OTHER COMPREHENSIVE INCOME |
|||||
|
Items not subject to subsequent reclassification to net cost of services |
|||||
|
Changes in asset revaluation surplus |
– |
19 |
– |
||
|
Total other comprehensive income |
– |
19 |
– |
The above statement should be read in conjunction with the accompanying notes.
Budget variances commentary
The major variances on the Statement of Comprehensive Income are employee benefits, depreciation and amortisation, rendering of services revenue, revenue from Government and the operating deficit.
During the reporting period the OAIC incurred higher than anticipated employee benefits costs. The increased costs relate to: recruitment activities to support workload requirements, including by way of short-term contractors and an additional and unforeseeable lump sum superannuation contribution as required by the Department of Finance.
Rendering of services revenue reflects variations to memorandums of understanding with other government entities during the financial year, which resulted in a reduction of revenue.
Depreciation and amortisation variation relates new intangibles such as the new oaic.gov.au website which was established during the reporting period.
As part of the 2019-20 Budget the OAIC received an additional $329,000 as appropriated funding.
The operating deficit relates to the above variances that were not known at the time of original the budget preparation.
Visit
https://www.transparency.gov.au/annual-reports/office-australian-information-commissioner/reporting-year/2018-2019-35