Financial performance
This section analyses the financial performance of OAIC for the year ended 2019.
|
1.1 EXPENSES |
||
|---|---|---|
|
2019 |
2018 |
|
|
$’000 |
$’000 |
|
|
1.1A: EMPLOYEE BENEFITS |
||
|
Wages and salaries |
8,856 |
7,387 |
|
Superannuation |
||
|
– Defined contribution plans |
1,060 |
861 |
|
– Defined benefit plans |
918 |
381 |
|
Leave and other entitlements |
1,123 |
735 |
|
Separation and redundancies |
– |
2 |
|
Other employee expenses |
45 |
115 |
|
Total employee benefits |
12,003 |
9,481 |
Accounting policy
Accounting policies for employee related expenses is contained in the People and Relationships section. People and relationships
|
1.1B: SUPPLIERS |
||
|---|---|---|
|
Goods and services supplied or rendered |
||
|
Insurance |
23 |
22 |
|
Office consumables |
47 |
23 |
|
Official travel |
288 |
240 |
|
Printing and publications |
22 |
44 |
|
Professional services and fees |
2,858 |
2,646 |
|
Property outgoing |
292 |
317 |
|
Reference materials, subscriptions and licenses |
147 |
82 |
|
Staff training |
107 |
239 |
|
Telecommunications |
31 |
20 |
|
Other |
175 |
89 |
|
Total goods and services supplied or rendered |
3,990 |
3,722 |
|
Goods supplied |
215 |
149 |
|
Services rendered |
3,774 |
3,573 |
|
Total goods and services supplied or rendered |
3,990 |
3,722 |
|
Other suppliers |
||
|
Operating lease rentals in connection with |
||
|
– Related parties |
||
|
–– Subleases |
603 |
531 |
|
– Workers compensation expenses |
25 |
18 |
|
Total other suppliers |
628 |
549 |
|
Total suppliers |
4,618 |
4,271 |
Leasing commitments
The OAIC in its capacity as sub-lessee, leases office accommodation that is subject to the provisions of the headlease. The initial periods of accommodation are still current and there are two options in the headlease agreement to renew.
|
Commitments for minimum lease payments in relation to non-cancellable |
||
|---|---|---|
|
– Within 1 year |
2,214 |
1,266 |
|
– Between 1 to 5 years |
2,143 |
2,553 |
|
Total operating lease commitments |
4,357 |
3,819 |
Accounting policy
Operating lease payments are expensed on a straight-line basis which is representative of the pattern of benefits derived from the leased assets.
The discount rate used is the interest rate implicit in the lease. Leased assets are amortised over the period of the lease.
|
1.2 OWN-SOURCE REVENUE AND GAINS |
||
|---|---|---|
|
2019 |
2018 |
|
|
$’000 |
$’000 |
|
|
OWN-SOURCE REVENUE |
||
|
1.2A: RENDERING OF SERVICES |
||
|
Rendering of services |
2,029 |
2,590 |
|
Total sale of goods and rendering of services |
2,029 |
2,590 |
Accounting policy
Revenue from rendering of services is recognised by reference to the stage of completion of contracts at the reporting date.
The stage of completion of contracts at the reporting date is determined by reference to the proportion that costs incurred to date bear to the estimated total costs of the transaction.
Receivables for goods and services, which have 30-day terms, are recognised at the nominal amounts due less any impairment allowance account. Collectability of debts is reviewed at the end of the reporting period. Allowances are made when collectability of the debt is no longer probable.
|
1.2B: OTHER REVENUE |
||
|---|---|---|
|
Resources received free of charge |
||
|
– Remuneration of auditors |
36 |
36 |
|
Total other revenue |
36 |
36 |
Accounting policy
Resources received free of charge
Resources received free of charge are recognised as revenue when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Resources received free of charge are recorded as either revenue or gains depending on their nature.
|
GAINS |
||
|---|---|---|
|
1.2C: OTHER GAINS |
||
|
Sale of assets |
– |
1 |
|
Total other gains |
– |
1 |
Accounting policy
Sale of assets
Gains from disposal of assets are recognised when control of the asset has passed to the buyer.
|
1.2D: REVENUE FROM GOVERNMENT |
||
|---|---|---|
|
Appropriations |
||
|
– Departmental appropriation |
13,825 |
10,711 |
|
Total revenue from Government |
13,825 |
10,711 |
Accounting policy
Revenue from Government
Amounts appropriated for departmental appropriations for the year (adjusted for any formal additions and reductions) are recognised as Revenue from Government when the OAIC gains control of the appropriation, except for certain amounts that relate to activities that are reciprocal in nature, in which case revenue is recognised only when it has been earned. Appropriations receivable are recognised at their nominal amounts.
Visit
https://www.transparency.gov.au/annual-reports/office-australian-information-commissioner/reporting-year/2018-2019-40